Cynergy Data Review

Overview

UPDATE 11/2/2018: Cynergy Data appears to have been fully absorbed into the Priority Payment Systems brand, and it appears that the company no longer boards new merchants under the name “Cynergy Data.” As a result, we will no longer update this review. See our Priority Payment Systems review for up-to-date information about this company.

Cynergy Data (cynergydata.com) was established in 1995 and is one of the largest credit card processors in the United States. Though Cynergy Data is a merchant account provider, the company does not appear to directly market its services to business owners. Instead, Cynergy Data partners with sales organizations (ISOs) that package and resell Cynergy Data credit card processing with their own value-added services. In some cases, ISOs market and sell credit card processing under Cynergy Data’s name even though Cynergy Data is not actually involved in the sales process.

Based in Long Island City, New York, Cynergy Data has seen its share of booms and busts. Since its inception, the company has grown and established offices in New York City, Boston, Chicago, and Atlanta, and gained over 150 employees. From 1997–2005, Cynergy Data was picked several times as one of the fastest growing companies in the United States, and in 2007 the processor acquired Abanco International. Not long after, things took a downturn for Cynergy Data and in 2009 the company filed for Chapter 11 bankruptcy protection. Cynergy Data was rescued from financial collapse by the Comvest Group, a private investment firm, and acquired for $81 million. The Comvest Group has since brought Cynergy Data to financial stability and invested millions of dollars into the company. It should also be noted that outside reviews of the company have suggested that Cynergy may be somehow affiliated with another processor by the name of Pipeline Data or Pipeline Data’s acquirer, Calpian Commerce. Afshin Yazdian is listed as the president and CEO of Cynergy Data.

Cynergy Data Products and Services

  • Debit and credit card processing
  • Donation prompts at checkout (DonateWiseNow)
  • Mobile phone processing
  • ACH processing
  • Recurring billing
  • POS equipment

Industries

  • Retail
  • Mobile
  • E-commerce
  • MOTO
  • High risk
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Sales & Marketing

Key Points - Sales & Marketing

Employs Independent Resellers Yes
Advertises Deceptive Rates No
Discloses All Important Terms No

Cynergy Data markets its services to ISOs, electronic payment developers, and merchants. The company appears to provide backend credit card processing services and tools to help ISOs grow and manage their merchant customers as well as enforcing the merchant account agreements that merchants sign. The company also advertises an online management portal for merchants called VIMAS Plus and a mobile card reader called Vwalaa. Cynergy Data’s use of ISOs as resellers can cause confusion with merchants because the merchant account contract is with Cynergy Data, even though the ISO can set customized terms, rates, and fees. Despite this industry-standard marketing strategy, Cynergy Data has not received any complaints related to its sales team in over a year. In light of this, we’ve raised its grade from an average “C” to a “B.”

Cynergy Data Marketing Example

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Costs & Contract

Key Points - Costs & Contract

Swiped Rate Variable
Keyed-in Rate Variable
Early Termination Fee $495
PCI Compliance Fee Up To $185 Per Year
Equipment Lease Terms Variable

Since Cynergy Data does not supply merchant accounts directly to business owners, it is up to the ISOs to sell the merchant accounts at a markup from Cynergy Data’s wholesale cost and resell it. Therefore, rates and fees will vary by ISO and by merchant. Additionally, the ISOs may have the ability to set contract terms such as service length agreement and early cancellation fees to their own specification; however, it appears that Cynergy’s standard contract (available below) has a service length agreement of three years with a $495 cancellation fee as well as an annual PCI Compliance Fee of up to $185. Merchants are advised to thoroughly research any company that provides Cynergy Data merchant accounts before signing up for credit card processing services. See the Cynergy Data Merchant Application.

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Complaints & Service

Key Points - Complaints & Service

Total Online Complaints 60+
Live Customer Support Yes
Most Common Complaint Hidden Fees

In cases where ISOs do not wish to supply customer support after selling the merchant account, Cynergy Data appears to provide it as an added service to the ISO. Cynergy Data itself has a low-to-moderate amount of complaints considering the size of the company and how long it has been in business. Although online researchers may find claims that Cynergy Data is a scam and operates under several aliases, this is actually not the case. The “aliases” that a few merchants have accused the processor of using are actually the ISOs that resell Cynergy Data credit card processing, or possible subsidiaries of the company. In fact, most of the complaints we found regarding Cynergy are in combination with one of its ISOs or partners, with Charge.com being the most frequently named partner.

Of the negative reviews, the most common types of complaints that merchants report are “hidden” or surprise fees, nondisclosure of fees and other important contract terms prior to account setup, and difficulty cancelling accounts or stopping additional fee collection by Cynergy. There are also a few complaints directly targeting Cynergy Data’s customer support line. As always, merchants are strongly encouraged to read the merchant account agreement prior to signing any papers.

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BBB

Key Points - BBB

Product & Service Complaints 15
Billing & Collection Complaints 26
Advertising & Sales Complaints 4
Guarantee & Warranty Complaints 0
Delivery Complaints 0

Note: We have adjusted this company’s BBB rating according to our own standards. To better understand why we adjust BBB ratings, please see our Rating Criteria.

There are several Better Business Bureau profiles for Cynergy Data because of ISOs that market credit card processing services under the processor’s name. At the time of this update, Cynergy Data’s actual BBB profile has “no rating” and is not accredited with the BBB. The BBB report shows a total of 45 complaints filed in the last 36 months (down dramatically from 135 at the time of our last review) with 26 regarding problems with billing and collection, 15 related to services and products, and four having to do with sales and advertising. The company has resolved 10 complaints to the satisfaction of the merchant, while one complaint received no resolution and the remaining 34 were either resolved to the dissatisfaction of the merchant or did not receive a final assessment from the merchant. Considering the number of complaints and the company’s resolution ratio, we have adjusted the BBB’s rating to a “B.”

Cynergy Data Logo

Cynergy Data Bottom Line

Cynergy Data appears to primarily market its services through sub-ISOs and subsidiaries and also provides processing for Pipeline Data and Calpian Commerce. Overall, we have seen a moderate reduction in the amount of complaints since our last update of this review, with most of the complaints regarding fees, difficulty cancelling, and poor service.

Phillip Parker is a former merchant services sales agent who believes the industry has been overrun by people who engage in fraud and deception in order to steal from hard working business owners. He created this website to help you avoid the bad players, save money on fees, and to get peace of mind with your merchant account. If you would like to help support his work, learn more about our cost reduction service. We can evaluate your statement, tell you exactly how much you're overpaying, and then help you dramatically reduce your fees with your current credit card processor. Looking to switch instead? See our list of the best merchant account providers.

Schedule a Consultation with Phillip

26 Reviews Leave Your Review for Cynergy Data Below

    Eliminate hidden fees and mistakes without switching merchant accounts. Get a free statement audit today to see how much you are overpaying.

  1. Vahagn Andryan says:

    Stay away from these guys, they are scammers, hidden early termination fees!!!

  2. Patricia says:

    Cynergy Data is the worst company with whom I have ever dealt. Before we signed up with them through Process Pink, I had confirmed with them that I would have large sales running through our credit card processing. When I started using them they wanted to hold a $5000.00 plus sale that I made and would only deposit the money into my account in six month payments. In other words my client’s card was charged and Cynergy Data wanted to hold the money from my firm for a total of six months. The representative from Process Pink never disclosed to me before I open my account with them that this would or could ever occur.

    After getting this information from them I asked to close the account via email. They did not close it at that time and neither did they send me the proper form to close it. The representative from Process Pink also did nothing to assist me in closing the account. When it was closed, of course my firm was charged the closing fee.

    At the time this issue took place I opened a processing account directly with my bank. The funds are always deposited into my account with in 24 hours of the sale, no matter how large the sale.

    They’re customer service is terrible, very unprofessional, and I’m all for people working from home but most every conversation I have had with them I can here the sound of babies crying or talking to the representative while I’m on the phone with them. They’re employees are very curt and rude.

    Stay away from this company, Cynergy Data, they are a scam!

  3. Eliminate hidden fees and mistakes without switching merchant accounts. Get a free statement audit today to see how much you are overpaying.

  4. Ken says:

    All of the above comments are based on being a business. I would like to comment on the flip side, as a customer where cynergy told the small busness I was using to not accept my check.

    I has some problems with my car and dropped it off at a place I have visited before.
    When I went to pick up the car, I tried to pay with check, as I have done in the past at this establishment. For some reason, cynergy told the business to not accept the check, and to not retry ( code #2 in their system).

    The only option for calling cynergy is their automated phone tree.
    After negotiating the system it said something along the lines of:
    “Our models suggest that this check is inconsistent with past check writings”

    Of course it is different! how often does my car break down?
    The shop was 100% cynergy and had no ability to take debit / e-check or any other instant cash option.

    I got to walk home in the rain,
    based on cynergy models,
    not facts,
    models….

  5. David says:

    We have had the misfortune to be saddled with Cynergy Data as our credit and debit card processor. Had a customer make a $1900 purchase, and Cynergy Data put a hold on the purchase . . . . and all subsequent daily sales!!!!

    Our Cynergy Data agent requested a reason for the purchase, a copy of the invoice, the signed credit card slip, and . . . three months of banking records! All were provided . . . and then . . . NOTHING. I phoned, I e-mailed, and only ever got a recording. After three weeks of trying to get my agent, I waded through a phone tree of 7 branches before getting to speak to a live person, who I had to sternly request to not put me into a voice mail box, I needed to speak to a agent who could explain the withholding of all our credit and debit card funds for the last three weeks.

    I spoke to an agent who informed me that my previous agent was no longer with the company! GREAT!! So my question was who took over his accounts? Apparently, . . . no one did! The agent I spoke with offered to look at my account, and noted that nothing had been done except placing the account on a complete hold, and that the committee that reviews risk accounts had not been given ANY of the data I had sent to their former agent three weeks earlier!!! I re-submitted all the data once again, and now we await a committee review . . . how long, we have no idea! Further, it was noted that if we have credit or debit sales that exceed $30, that the account would be placed on a review again!! WHAAT??!? We have purchasers that buy appliances that may top $2000!!?!?

    We will HAVE to find another processor for our accounts. This is absolutely insane, and completely un-professional. No progress, and no notification in three weeks if I hadn’t chased them down! An Agent “leaves” and they don’t know anything about his accounts? In the meantime, I’ve processed sales for 20 days, and Cynergy Data is still holding ALL of the sales we have had in that time!!?!?

    We would never choose to do ANY service with Cynergy Data Processors . . . EVER! Lack of communication, professionalism, follow-through, petty purchase/sale limits. We’d rather have our high fees with Wells Fargo again! They at least process ALL our sales, AND communicate when there is a problem, and don’t place petty $30 limits on each sale we might make! Goodness!!!

    We were sold an account through Everest Enterprises, LLC (another dumb ISO . . . ok, after reading the posts here, . . I was the dumb one!!), and their agent won’t return my calls or my emails, and I have his personal cell number, but he never answers! Gee, . . . wonder why??

  6. Eliminate hidden fees and mistakes without switching merchant accounts. Get a free statement audit today to see how much you are overpaying.

  7. Amy says:

    I would never do business with this company again. After closing my account, and the bank account associated with my business, I was sent to collections for the monthly account fee, statement fee, and a fee for not being able to directly deduct these fees from my bank account. Upon receiving my last statement, none of this was evident on the statement. I had no idea I owed them any money until receiving correspondence from the collection agency. When I called Cynergy, Jennifer assured me that this agency was not a collection agency. Cynergy also would not negotiate these fees. When I called the collection agency, they confirmed they were indeed a collection agency! No surprise. I paid the fee, which I would have been happy to pay directly to Cynergy had I known we even owed any money to them. When I called back to inform Cynergy that the agency was a collection agency, they had no response at all. The only response they had was that since the money had been paid so quickly, this would not be sent to a credit bureau. I informed them that I would never recommend their company to anyone again. I think they attract costumers with their “no contract” approach, but from my experience, it isn’t easy to stop doing business with any credit card processing company.

  8. SPS says:

    Take my advise do not do business with Cynergy Data / Pipeline Data . They did not deposit our captured funds for an entire month well over $35000.00. I have been trying to get it all back for over a year. I have been in business for many years and have never came across a company this bad. during this entire process they have been sending me statements with ridiculous fees on them trying to take up as much of the $35K balance as they can so they will not have to pay it back to us. Their business partner ( New Edge Payments, LLC ( Just one of their names)) the ISO who hooked us up with Cynergy data They forged my signature on two pages of the contract that was sent to us via sales person in their office ( The parts that were forged were the parts that allowed them to lock up our full month of deposits). In my opinion do not do stay away from these both of these companies there are allot better folks out there to process your credit card receipts. If either of these companies ever call to sell or offer you anything / ” Tell them to pack it and Hang UP!

  9. Eliminate hidden fees and mistakes without switching merchant accounts. Get a free statement audit today to see how much you are overpaying.

  10. Olga says:

    I applied a credit card processing account in January 2012 though charge.com. After applying it was apparent that my personal information was illegally shared with several businesses including Cynergy, and that an account was opened for me without my knowledge. I was never be able to use the account, after hours on the phone with no outcome, I sent Cynergy a letter to close this account. After 1.5 months I receive a collection letter that I owe Cynergy $121.50 without any itemized billing info or, in fact, any explanation of this billing charge. This is my worst nightmare.

  11. Robert says:

    BBB rating for Cynergy Data is now an A+. Cynergy has been progressively improving their customer service and complaints.

    1. OlJ says:

      Are you working for Cynergy? I had the most horrible experience in my life with them. Just like others, applied for a merchant account through http://www.charge.com, why basically sold all of my personal info including SSN to Cynergy / Pipleline/Harris bank. Never used their services, spent hours on the phone trying to unsuccessfully close the account. Now, they sent me to collection for $121.50 in fees. What fees? This is your worst nightmare, please stay away!

    2. v moreno says:

      CynergyData? They have entered my banking account with out my knowlege and removed funds. My information was sold to them by my bank. Where can I find a business, which has every one of my customers credit card information, that can charge me fees with no contract ever signed. I need to open a business like this! Three charges from my customers in april for a total of $65.00 cost me $79.00 extracted as fees from Cynergy Data. The Next situation they send you a 1099-K for these moneys 5 days after your taxes are due???? Nightmare!!!! I have canceled my bank account. Let them charge all they want. Fraud!!!!!

  12. Eliminate hidden fees and mistakes without switching merchant accounts. Get a free statement audit today to see how much you are overpaying.

  13. Amanda says:

    MY EXPERIENCE WITH CYNERGY DATA HAS BEEN HORRIBLE!! Do NOT do business with this company. A complete nightmare from the beginning and I’m still waiting on a refund from them after 4 months. I will make a complaint with BBB as well.

    -small business owner

  14. Mike says:

    I cancelled my account before it was even fully set up. It was never activated, never used. It was literally cancelled less than 24 hours after my initial contact with them. Imagine my surprise when they debit my checking account for “merchant fees” in the amount of $152.83. FOR NOTHING. One woman I spoke with said that she sent an email to the “sales department” to inquire on a refund, but she said that it most likely wont go through. If they try to debit my account for cancellation fees, I will go to the state AG. This is BS. The account was never even operational!

  15. Eliminate hidden fees and mistakes without switching merchant accounts. Get a free statement audit today to see how much you are overpaying.

  16. Lee Gross says:

    I have never had a more unprofessional experience than my interactions with Cynergy Data. Despite having had an active merchant account with them for over 1 year, they put a hold on my account and demanded information that was sent to them again and again. The denied ever receiving it. When asked to speak with a suprevisor, there was nobody to speak to. Horrible experience. I have terminated my account with them.

  17. Chris says:

    also getting JERKED AROUND by CYNERGY DATA.

    first concern: What can I do to SAVE MY CREDIT? Cynergy has sent their collection agency after me and the threats have only begun.

    second concern: Do I pay them off? I mean do I practically have a choice in this matter? It’s not much worth hiring a lawyer that would eat up the same amount of money in under 2 hours. district attorney? Tom Martino? class action? IS IT WORTH FIGHTING?

    Third thing: I closed my accounts. From what I understand from their user agreement, they can keep certain parts of the account active for quite a while after a person terminates with them…. Probably so they can continue to collect on all those fees they keep unraveling. So I thought, what’s to stop them from trying to dip into my account for another $600, un-announced, some 4 or 5 months down the road?

  18. Eliminate hidden fees and mistakes without switching merchant accounts. Get a free statement audit today to see how much you are overpaying.

  19. nicole pratt says:

    This company is HORRIBLE! It doesn’t take much to open an account…but try
    to get out of it…what a nightmare. I was in the process of sending their certified letter,
    and getting the credit card machine back…all the while, communicating w/the idiots
    at Cynergy…and they send me a collection agency. I would not recommend them to anyone.

  20. B N Shannon says:

    I had recently complained about a situation that got me involved with a Merchant Account that I did not set up myself.

    I want to clarify that American Express had indicated that Cynergy Data and Charge.com were involved in the process.

    However, in speaking with the risk department of Cynergy Data, they told me that 3 transactions had been made against the Merchant Account but they found them to be suspicious so they put them on hold.

    I want to thank them for their direction. They ended up cancelling the Merchant Account and advised me to check my credit reports to determine if their was anyone fraudulently using my credit information. In addition, American Express also cancelled the account. I also noticed another Credit Card processor who inquired to my Experian Account at the same time. I am not going to mention their name unless as I just notified them about the same problem so if they respond possibly about my inquiry, as far as I’m concerned the issure is resolved.

    Thank you.

    B N Shannon

  21. Eliminate hidden fees and mistakes without switching merchant accounts. Get a free statement audit today to see how much you are overpaying.

  22. Erin says:

    Thanks Tena, I have done that, whew! I lucked out because I saw these posts as soon as I signed up, so far they have only taken the 29.99 fee, dont know how soon they will attempt to deduct anymore fees, but I have closed that account, as well as the debit card I used, so they wont get anything…LOL’ing at them right now…haha!

  23. Rae says:

    I absolutely would NOT recommend Cynergy Data/Charge.com/Pipeline My initial account was set up through Charge.com with someone named Eddie, who is a smooth talker & apparent “sheister” . He lied to me about fees involved. He told me all I would be paying was $9.99/month to use their service along with the % fee of each transaction & thena flat fee per transaction. (which he wouldn’t disclose to me after I signed up) Stupid me! he told me I was getting a “steak for the price of a cheeseburger” and “don’t worry about the fees” “we are like the Walmart of credit card processing”… Well now since I signed up in May & used the servic I have had “statement fees” & “gateway fees” & “non-use fees” with Cynergy Data that are all being deducted from my checking account! I cancelled my account last month after they withdrew more fees from my checking, but apparently cancellation doesn’t mean anything to them! I have had to file a claim with my bank to stop payment & to put “merchant services’ on the DO NOT PAY list. I spoke to someone named “Julianna” & asked to speak to a supervisor & she kept stalling, but did finally put me on hold HOWEVER…no one ever picked up the phone & on the timer on my phone display I was waiting 21 minutes!

    1. Suzy Hermes says:

      I Too have been scamed by Cynergy Data!! They promised lower fees etc and I explained that we took a private label card also. They said “no problem because we are going to use your same machine”. Well after a month & no call from them, I kept calling & calling & Dennis (the person who signed me up & supposed manager) would not return my calls! I finally got ahold of another guy Alex who gave me a number to cynergy data. They “programmed” my machine. Well low & behold, then I
      could not run our private label cards!!! Every time you call Cynergy, they are RUDE &
      will not help you. Said that we were signed up by Imerperial merchant services so we
      have to call them…you call them & they say you have to call Cynergy!! Then you start
      getting charged all the fees….I was even charged fees before the machine had been
      programed!!! BEWARE OF THIS COMPANY!!!!!!

  24. Eliminate hidden fees and mistakes without switching merchant accounts. Get a free statement audit today to see how much you are overpaying.

  25. Erin Soul says:

    I too have been scammed…BIG TIME! I applied on June 24th 2011, and called to cancel on June 29th, they claim they will deduct $495 from my account because its due to a 3 year contarct being broken…what? Anyway, I’m trying to figure out how to report them, stop this payments and get the heck away from them! I also signed up through charge.com and am so SORRY I did!

    1. Tena Gallagher says:

      Erin… I suggest you call your bank and have them block any further payments from the company. Explain the situation to them. Also, I have reported them to the Better Business Bureau AND filed a report with the Attorney General of New York, Florida and Georgia because they have various addresses on their correspondence. Good luck to you.

    2. ETF? Since when? says:

      They are trying to charge me $495 “early termination fee” as well, even though I’ve had an account for years. Was never told I was going to be charged to cancel. I gave them my photo ID and everything, now a month later I notice a $495 charge.

      I requested a refund. They said they’d get back to me, I’m not sure though if this is going to go anywhere though.

  26. Tena Gallagher says:

    This company runs a scam on fees. In December 2009 they started charging a $185 annual fee for “PCI Compliance.” They stated it was an annual fee which was charged to my account December of 2009 and December of 2010. Now, June 24 I received a charge to my account for $185 for PCI Compliance fee. When I called them… they said they decided to change the date they charge the fee… from December to June? Arbitrarily and WITHOUT NOTICE! This fee, even if it is a valid fee, was supposed to be an annual fee. Since I paid it in December 2009 and December 2010… WHY ARE THEY CHARGING ME IN JUNE? I’ve been dealing with this company since 2004 and when I first started had no problem… then about two years in they started throwing in arbitrary fees and escalated my monthly charge. When you complain about it… they tell you that there are no refunds and you can’t get your money back no matter what. I have canceled my account with them and would NEVER recommend this company to any of my business friends. They are shady at best, scam artists at worst.

    1. Cynergy Data is totally intertwined at the Director and Officer level with Pipeline Data. Last year they took over handling Payment Card Industry Data Security Standard (PCI DSS) compliance for the Pipeline Data/Paynet Systems merchant account I have had since October, 2006 On December 23, 2010 my account was automatically debited $185 for their yearly PCI DSS compliance fee which should have covered me until December 22, 2011. Without any notification my account was automatically debited again for $185 on June 24, 2011 for a yearly PCI DSS compliance fee that would cover me until June 23, 2012. When I contacted customer support to inquire about the 6-month, double-booking overlap of fees for the period of June 24, 2011 through December 22, 2011 … I was told that they had simply re-synched all of their accounts to a June billing cycle … and sorry, that was just the way it was … and no credit/refund was due to me. Messages left with customer support management have been ignored.

      I researched that complaints should be filed with the U.S. Department of Justice Financial Fraud Enforcement Task Force through the Internet Crime Complaint Center (IC3) that was established by the FBI, the National White Collar Crime Center (NW3C) and the Bureau of Justice Assistance (BJA). The link to their web site and online complaint form is at http://www.ic3.gov/default.aspx

      1. Tena Gallagher says:

        Bill… thank you for this information. I have already filled with the Attorney Generals of Florida, New York and Georgia as well as filed a complaint with the Better Business Bureau. I will follow up with the information you provided. I’ve also filed a report with the fraud department of my bank who may reverse the charge but will not accept any further charges from this company to my account.

        This company is unscrupulous. DO NOT DO BUSINESS WITH THEM!

  27. Eliminate hidden fees and mistakes without switching merchant accounts. Get a free statement audit today to see how much you are overpaying.

  28. This is a terrific article. Thank you so much for bothering to detail all this out for all of us. It truly is a great guide!

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