E-Commerce Exchange appears to no longer be in business, or has been fully rebranded as My Business Venture. This profile will no longer be updated and we ask our readers to check the My Business Venture for more up-to-date information.
E-Commerce Exchange Overview
E-Commerce Exchange is a full-service internet and retailmerchant account provider. Founded in 1996 under the corporate name “TDS Enterprises, Inc.,” the company provides various merchant services targeted at online business types. E-Commerce Exchange appears to be a reseller of iPayment, Intuit, Revel Systems, and Sage contracts.
Also Known As “My Business Venture”
E-Commerce Exchange’s corporate address is located in Smithtown, New York, at 732 Smithtown Bypass, Suite 302, and it is a registered ISO/MSP of Wells Fargo Bank, N.A., Walnut Creek, California. The company’s leadership team is not publicly listed, although it is a subsidiary of iPayment. E-Commerce Exchange now does business under the name My Business Venture (mybusinessventure.com), and the company’s owners insist that neither company sells or services merchant accounts at this time. As of this update, the domain for E-Commerce Exchange is no longer active.
Leadership
Customer Reviews & Sentiment
Decreasing Complaint Rate
We are able to locate approximately 60 negative E-Commerce Exchange reviews, most of which also name other associated businesses. Many issues involve complainants paying monthly lease fees and other associated fees with none of the generation of income that they were promised by the company’s sales literature. In the comment sections of many of these complaints, the issues were resolved with the complainant offering apologies to E-Commerce Exchange for misunderstanding the nature of the issue.
E-Commerce Exchange Lawsuits
We have not found any outstanding class-action lawsuits or FTC complaints filed against E-Commerce Exchange. Dissatisfied merchants who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations.
E-Commerce Exchange Customer Support Options
This trend of recent positive resolutions, coupled with the fact that most of the complaints date from over five years ago, inclines us to award the company a “B” in this category. The company’s complaint total is too high to be considered a top-rated merchant account provider for customer support at this time. Merchants who are placed with iPayment by E-Commerce Exchange can expect to receive customer support from iPayment.
Client Satisfaction Ratings
| Product & Service Complaints | 18 |
|---|---|
| Billing & Collection Complaints | 2 |
| Advertising & Sales Complaints | 2 |
| Guarantee & Warranty Complaints | 1 |
| 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.
Over 20 Complaints
E-Commerce Exchange has been an accredited business of the Better Business Bureau since 2009, but the name on the company’s BBB profile is currently “My Business Venture.” As of this update, the company maintains an “A+” rating with the BBB, despite 23 complaints filed against it in the last 36 months. These complaints include 2 with advertising or sales issues, 18 problems with their products or services, 1 with guarantee or warranty, and 2 with billing and collection. E-Commerce Exchange has successfully resolved 12 complaints, while the remaining 11 either were resolved to the dissatisfaction of the merchant or did not receive a final response from the merchant.
A “B” Performance Overall
In light of these figures, we have adjusted the BBB’s rating to a “B.” For more information on why we adjust BBB ratings, please see our Rating Criteria.
Card Processing Rates & Fees
Contracts Through iPayment
There is very little information available about the standard E-Commerce Exchange contract. The website for E-Commerce Exchange formerly provided a list of the company’s PCI Compliance fees for each of its merchant accounts, with iPayment charging $129 per year, Sage charging either $75 or $174 per year, and Intuit charging between $35 and $100 per year. Some merchants report a required monthly fee of $99 to pay for marketing packages, and one complaint mentions a cancellation fee that sounds like a Liquidated Damages fee.
Industry-Average Terms
The company’s contracts appear to include some nonstandard elements, particularly with respect to their marketing packages, but the terms overall appear to be average for the industry. They may also vary depending on the backend processor that a merchant is paired with through E-Commerce Exchange. We would not expect them to compete with the cheapest merchant accounts in the industry. If you have any information about the standard E-Commerce Exchange contract, please leave it in the comment section of this review.
Bottom Line
An Average Option for Most E-Commerce Businesses
E-Commerce Exchange rates as an average merchant account provider according to our rating system. The company has a lower-than-average number of complaints filed against it in the last few years, but its contract terms and sales tactics seem to be a source of frustration for merchants. The company can improve its rating by ensuring better delivery of its promised marketing results and continuing to maintain a low complaint rate. It may also benefit E-Commerce Exchange to part ways with iPayment, which is not rated highly on this website. Merchants can decide for themselves whether or not to sign up with E-Commerce Exchange by comparing the company to top-rated providers.
E-Commerce Exchange Rating
