Merchant Services Reviews

Cornerstone Payment Systems Reviews & Complaints

Updated:
Maintained Since: September 30, 2015
▼ 6 User Reviews
Cornerstone Payment Systems
Overall Score
4
full star full star full star full star empty star
How did they treat you?
Pros and Cons
Pros: Cons:
Reliable and secure processing. Costly early termination fee.
No startup fee. Pricing not publicly disclosed.
Customized solutions for each customer. Some information withheld.
Suitable for e-commerce, small businesses, religious groups. Monthly charges apply.
Uses EMV chip and NFC technology. Uses individual sales agents.
Generally positive online reviews. PCI compliance fee.

Confused about your fees with Cornerstone Payment Systems? Here's how to find the hidden fees in your statement.

Overview

In this review of Cornerstone Payment Systems, we will provide a detailed overview of the company's credit card processing services. We will cover the range of services they offer, including point-of-sale (POS) systems, mobile payment solutions, and e-commerce capabilities. The review will identify the types of businesses that might benefit from these services. Additionally, we will examine client and customer reviews to highlight common trends and potential concerns. The article will also address the company's pricing structure, contract terms, and specific features provided. By the end of this review, you will understand whether Cornerstone Payment Systems meets your payment processing needs.

About Cornerstone Payment Systems

Founded in 2001, Cornerstone Payment Systems is a merchant account provider that claims to put “Christ at the cornerstone of our business.” The company places an emphasis on its Christian affiliation and advertises that it does not process credit card transactions for businesses that it deems morally objectionable. According to this source, Cornerstone's definition of morally objectionable transactions may include sales of pornographic content or donations to Planned Parenthood. For this reason, businesses that may qualify as morally objectionable by Cornerstone's standards should not expect to be approved for merchant accounts through the company. The company appears to utilize TSYS, WorldPay, Paya, and First Data (now Fiserv) as its backend processors as well as NMI and Clover as POS solutions.

In 2020, Cornerstone Payment Systems acquired Move Your Mountain.

It must be noted that since 2020 Cornerstone Payment Systems has been accused of leaking the data of at least 9 million customers.

Cornerstone Payment Systems Homepage

Jump Ahead:

Acquisition of Crowd-Funding Platform

Cornerstone Payment Systems acquired the crowd-funding platform Move Your Mountain in January as of 2020. Move Your Mountain was founded in 2014 as a platform that shares the same values as Cornerstone Payment Systems. Unlike other crowdfunding platforms, Move Your Mountain does not impose deadlines on fundraising campaigns. Crowd-funding campaigns hosted by Move Your Mountain are also free of set-up charges, though a donation fee and processing fee are taken from each donation by the company and its backend process, WePay.

Cornerstorn Payment Systems Products and SErvices

Payment Processing

Cornerstone Payment Systems processes all major debit and credit cards. Their services include EMV card readers and swipers, virtual terminals, ACH processing, recurring billing, access to a payment gateway, custom payment pages, and donation services.

E-commerce Payment Gateway

Cornerstone offers an online payment gateway designed for secure e-commerce transactions. Compatible with major credit card brands and widely used shopping cart systems, this gateway enables merchants to accept payments on their online stores seamlessly.

Mobile and Virtual Terminal Transactions

Cornerstone provides mobile and virtual terminal transaction services, allowing businesses to accept card payments remotely or when the card is not physically present. These services are accessible via a mobile app or a virtual terminal with an internet connection.

Merchant Cash Advance Service

Cornerstone also offers a merchant cash advance service, enabling businesses to quickly access working capital. This service is based on the volume of a merchant's credit card transactions, providing funds to support operations or finance growth.

Cornerstone Payment Systems Customer Reviews

Here's What Their Clients Say

Customer Reviews Summary
Total Online Complaints <10
Live Customer Support Yes
Most Common Complaint N/A
Recent Lawsuits No

Customer Feedback Analysis

Our research indicates fewer than 10 negative reviews of Cornerstone Payment Systems, with some explicitly labeling the company as a scam or ripoff. Common complaints include delayed deposits and lack of customer support. Notably, a significant portion of these reviews are over four years old, and at least two have been publicly retracted. These older reviews are not reflected in our current evaluation. Cornerstone Payment Systems has responded professionally to some complaints, while others remain unaddressed. We encourage individuals with personal experiences to share their reviews of Cornerstone Payment Systems in the comments section.

Data Security Concerns

According to recent reports, Cornerstone Payment Systems had an unprotected database containing sensitive merchant account information, including names, email addresses, and partial credit/debit card numbers. Since this issue was identified, the company has reportedly secured the database. However, a subsequent data breach was reported, raising further concerns about data security.

Association with the Duggar Family

Cornerstone Payment Systems has received some negative online attention regarding its potential business with members of the Duggar family from the TV show 19 Kids and Counting. Allegations in online forums suggest that Cornerstone may have processed donations for Duggar family operations or permitted them to establish sub-ISOs. These claims are currently unverified and seem to have minimal impact on the company’s overall performance as a payment processor. Nevertheless, considering Cornerstone’s marketing strategy emphasizes moral values, this information might be relevant to current and prospective clients.

Legal and Regulatory Status

No current class-action lawsuits or Federal Trade Commission (FTC) complaints against Cornerstone Payment Systems have been identified. Dissatisfied clients are advised to consider reporting concerns to relevant supervisory bodies.

Customer Support Evaluation

While the number of public complaints against Cornerstone Payment Systems is relatively low and seems isolated, the company offers customer support during standard business hours.

Contact Details for Cornerstone Payment Systems

  • (888) 506-0208 – Toll-Free Customer Support

Additional Support Channels

Although Cornerstone Payment Systems is rated “A” in this section, we stop short of classifying it as a leading processor for customer service.

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Cornerstone Payment Systems Online Ratings

Here's How They Rate Online

Online Ratings Summary
BBB Reports 0

Clean Complaint Record

Cornerstone Payment Systems currently has an “A+” rating with the Better Business Bureau and is not BBB accredited. The company has received 0 complaints or informal reviews through its BBB profile in the past 3 years.

An “A” Performance

Given the company’s clean complaint record with the BBB, we agree with the BBB’s rating at this time. Business owners should note, however, that there are reasons to be skeptical of BBB ratings.

Got something to say about Cornerstone Payment Systems? Tell us here before you go.

Cornerstone Payment Systems Fees, Rates & Costs

A Closer Look at The Contract

Cost & Fees Summary
Cancellation Penalties Undisclosed
Monthly & Annual Fees Yes
Processing Rates 1.00% - 4.99%
Equipment Leasing Undisclosed

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Cornerstone Payment Systems Contract Terms

An older version of Cornerstone Payment Systems’ terms and conditions indicates the company employs contracts of varying lengths, with tiered pricing and early termination fees that were not specified. Some reviews suggest Cornerstone might impose a $50 annual PCI compliance fee, considered below the industry average. Due to the absence of detailed pricing information on Cornerstone’s website, comprehensive insights into their contract terms remain limited.

Virtual Terminal and Payment Gateway Pricing

Cornerstone Payment Systems offers proprietary virtual terminal and payment gateway services, with specific pricing details undisclosed on their platform. Generally, additional rates and fees, such as gateway fees, technical support fees, batch fees, and transaction rates, apply to these e-commerce solutions.

Sparse Contract Complaints

With limited complaints regarding Cornerstone Payment Systems’ pricing available, it can be inferred that a majority of their merchants may be content with the fees charged. However, it remains essential for business owners to thoroughly review their contracts and negotiate terms favorable to their needs. For those with updated or firsthand experience with Cornerstone’s contract terms, sharing your insights in the comments section would be valuable.

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Is your Cornerstone Payment Systems statement hard to understand? We break it all down.

Cornerstone Payment Systems Employee Reviews & Sales Tacitcs

Should You Work For Them?

Jobs & Marketing Summary
Uses Independent Resellers No
Telemarketing No
Misleading Marketing No
Discloses All Important Terms No

No Widespread Sales Issue

Cornerstone Payment Systems appears to market its service primarily through traditional advertising methods, independent agents, referral programs, and strategic partnerships. We have found only one Cornerstone Payment Systems review related to its sales team. This complaint vaguely describes unexpected debits from the business’ account and appears to have been caused by a simple misunderstanding. In general, there is no indication that Cornerstone Payment Systems engages in unethical sales conduct. We have therefore assigned it an “A” rating in this category.

This compares favorably to our list of best credit card processors.

No Deceptive Rate Quotes

As an additional point in the company’s favor, there does not appear to be any deceptive Cornerstone Payment Systems rates quotes in its official materials. However, if you suspect that Cornerstone is overcharging you, you can double-check your pricing with a third-party statement audit.

Our Cornerstone Payment Systems Review Summary

Our Final Thoughts

Cornerstone Payment Systems distinguishes itself as a commendable credit card processing provider, particularly favored by non-profits and businesses that align with Cornerstone’s moral and ethical standards. The company has managed to maintain a low complaint volume regarding its services and products, suggesting a satisfactory level of performance and customer support. This relatively clean record contributes positively to its reputation, albeit shadowed by a minimal degree of negative publicity that does not significantly affect its core operations.

Our assessment of Cornerstone remains provisional, pending a deeper exploration of its contract terms which could further influence its rating. Businesses engaged in sectors that Cornerstone might deem high-risk or morally questionable should consider secure alternatives and may find more accommodating service with providers specializing in high-risk merchant accounts that have no reservations about their industry. As more detailed information about Cornerstone’s policies and contractual details becomes available, we will adjust our review to reflect the most accurate evaluation.

Location & Ownership

The Cornerstone Payment Systems website states that the company is headquartered at 307 N Public Square, Centerville, TN, and mentions sales offices in Mobile, AL, and Alpharetta, GA. Google, and a few other sources, however, list the company at 17822 17th St, Tustin, CA 92780. Cornerstone Payment Systems is a DBA of Providence Payment Systems, LLC, and it appears that Cornerstone Payment Systems at one point maintained another DBA called Cornerstone Platinum. Cornerstone Payment Systems is a registered ISO/MSP of  Deutsche Bank AG, New York. Nathan Logan is the owner, while Nick Logan is the president and CEO of Cornerstone Payment Systems.

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About The Author

In the late 2000s, as a broke college student struggling to make ends meet, I was contacted by a merchant services company after uploading my resume to a job listings website. This company promised substantial commissions and ongoing residual income for simply persuading businesses to accept credit card payments. It seemed straightforward enough—after all, what business doesn’t need to process credit card payments? Following a phone interview with a persuasive “sales director,” I found myself embarking on what I believed would be an easy job that would significantly boost my bank account with reliable monthly income and large sales commissions. However, the lessons I learned would profoundly change my life in ways I could never have imagined.

After completing my sales training, I hit the ground running, eager to make sales. This broke college student was determined to improve his financial situation! My first attempt at a cold call, with no prior appointment, ended with a burly man in his 50s yelling at me to leave, claiming he had been “totally robbed” by someone like me before. As I hastily exited, puzzled and intimidated by his reaction, I couldn’t help but wonder what he meant. Throughout the day, I encountered similar hostility from other business owners, all expressing disdain for the industry I had been so excited to join that morning. Confused and curious, I decided to shift my approach from selling to listening.

I quickly uncovered that the merchant services sector was riddled with unethical practices, including hidden fees, deceptive marketing, fine-print traps, and much more. It dawned on me that I had nearly been tricked by a dubious company into selling overpriced services under contracts with long-term commitments, all without being fully aware of what I was promoting. Outraged, I resigned from that company but learned that there were indeed ethical credit card processing companies that treated their clients fairly. Over the next four years, I worked for one such company, assisting hundreds of businesses in securing cost-effective processing solutions. Yet, I also met many more who had been misled and trapped in onerous service agreements. Determined to help people steer clear of these unscrupulous providers, I launched this website in my spare time, dedicating myself to researching and sharing my findings on every merchant account provider I could investigate.

Gradually, more and more business owners began to discover my articles. As word spread, search engines started to rank my content highly, amplifying its reach. My efforts were making a difference! Eventually, the website garnered enough traffic to enable me to leave my job and focus on it full-time, a journey that has now spanned over a decade. This path has not been without its challenges; unscrupulous company owners have tried to intimidate and sue me into silence on several occasions. Yet, I have stood firm against each threat. Here I am, continuing to publish reviews and articles, hoping to safeguard others from the pitfalls of the credit card processing industry.

If you believe in my mission and wish to contribute, please share my articles on your websites and social media. Thank you for visiting!

Testimonials & Complaints

How Did Cornerstone Payment Systems Treat You?

6 User Reviews

  • Bridget L Gilmore

    I have not received my correct W2 form from them…. they didn’t give the correct account of my earnings…. I am now having issues with the IRS because their information does not match my check stubs. Protective Enterprises Public Safety was my Employer who also has stopped communicating with me to resolve the matter….The checks I received from my employer were hand written but Cornerstone sent the IRS a bogus W2 with wages I never received from them because I never had direct deposit set up…. I have proof they rejected my information because my employer never sent them any information on me… So why did they send a W2 for an employee that was never in their system…. I was told I wasn’t in their system and customer service is almost ALWAYS NOT available

    This post will help: Top-Rated Credit Card Processors

    -Phillip

  • Brandon Moore

    I know many non-profits who work with Cornerstone and they are happy.

    They are trustworthy and really provide a great service. They are family owned company and give a truly first class service! I would highly recommend them to anyone who is looking for ways to collect donations on-line.

  • Brandy

    This is the WORST company! If you try to cancel they will constantly transfer you then hang up on you. If you email you will never get a response. I sent a letter in to cancel and when I received a past due amount letter they stated that they never got the letter. I’ve never dealt with such a horrible and shady company, and to think they say they are a christian company. “Do unto others…”

  • Lisa Mallory

    Do not use this company. They are not trustworthy. They are only an third party agent that charges you an annual fee for completing a compliance survey with your actual
    Merchant service provider. Best to set up the merchant serve account directly with a reputable company like sage.

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