Electrum Corporation 2023: Reviews & Complaints
Electrum Corporation is a merchant services provider specializing in the development and marketing of proprietary electronic payment software and services. Founded in 1998, Electrum does not list an acquiring bank on its website.
Before we dive in, here’s a short summary of what we’ll cover:
- Electrum Corporation’s various payment processing services.
- The company has received very few complaints online.
- There is little information about the Electrum Corp. contract.
Electrum Corporation Payment Processing
Electrum Corporation processes all major debit and credit cards for most business types. Their services include EMV card readers and swipers, POS systems, e-commerce solutions, data reporting and analysis, and gift and loyalty programs.
Location & Ownership
Electrum Corporation states that its headquarters can be found at 4965 U.S. Hwy. 42, Suite 1000, Louisville, Kentucky 40222, while the Better Business Bureau believes the company to be located at 5000 Thurmond Mall #106, Columbia, South Carolina 29201. According to both sources, Edward Craig is the founder, president, and CEO of Electrum Corporation.
Table of Contents
Electrum Corporation Customer Reviews
Here's What Their Clients Say
|Total Online Complaints||<10|
|Live Customer Support||Unknown|
|Most Common Complaint||N/A|
Clean Complaint Record
We are unable to locate any negative Electrum Corporation reviews at this time, and there is no indication that the company scams or rips off merchants. This clean complaint record may reflect incredible customer support from the company, or it might simply be a product of Electrum’s focus on non-merchant account features for small businesses. If you have your own Electrum Corporation review to make, please do so in the comments below.
Electrum Corporation Lawsuits and Fines
We have not found any outstanding class-action lawsuits or FTC complaints filed against Electrum Corporation. Dissatisfied clients who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations.
Electrum Corporation Customer Support Options
Electrum provides a general contact phone number on its website as well as a dedicated email address for customer support, and we will assume for the time being that these channels do an adequate job of resolving client complaints before they are taken to public forums. However, there is also no indication that Electrum should qualify as a top-rated payment processor for customer service.
Electrum Corporation Customer Service Numbers
- (803) 255-0991 – General Support
- (866) 345-4915 – Fax
Other Support Options
Electrum Corporation Online Ratings
Here's How They Rate Online
Online Ratings Summary
No BBB Complaints
Electrum Corporation is currently not an accredited business of the Better Business Bureau and holds an “A+” score. The company has received 0 complaints in the past 36 months. It has also not received any informal reviews on its BBB profile, although it should be noted that these reviews are not subject to verification by the BBB.
An “A” Rating
In light of the company’s spotless complaint record, we agree with the BBB’s rating at this time. Readers should note, however, that there are valid reasons to view the BBB’s information with skepticism.
Electrum Corporation Fees, Rates & Costs
A Closer Look at The Contract
|Monthly & Annual Fees||Unclear|
|Processing Rates||1.00% - 4.99%|
|Equipment Lease Terms||Unclear|
No Contract Information Available
There is very little publicly available information regarding the standard Electrum Corporation contract at this time. In fact, the Electrum Corporation website doesn’t directly address whether the company provides merchant accounts of any kind. Electrum’s focus on loyalty, marketing, billing, and point-of-sale software strongly suggests that the company is capable of opening a merchant account for its customers, so business owners should expect that there are some payment processing costs built into its services. However, there are no pricing details or contract terms available on the Electrum website.
No Contract Complaints
Given the absence of complaints related to its contract terms, we will assign it an “A” rating for the time being but cannot clarify whether Electrum offers rates that are competitive with cheap merchant account providers. If you have any specific knowledge of the standard Electrum Corporation contract terms (including any early termination fees or PCI compliance fees), please share that information in the comment section of this review.
We also encourage readers to check out our list of the providers of the best merchant accounts.
Electrum Corporation Employee Reviews & Sales Tacitcs
Should You Work For Them?
|Uses Independent Resellers||No|
|Discloses All Important Terms||No|
No Sales Complaints
Electrum Corporation appears to primarily market its services through its website and through traditional advertising. There is no evidence at this time that the company employs independent sales agents, and we have not found any Electrum Corporation reviews that accuse the company of deceptive sales tactics.
This compares favorably to our list of best credit card processors.
No Misleading Quotes
As an additional point in its favor, Electrum does not list any deceptive rate quotes on its website. We will therefore award it an “A” rating in this category for the time being. If you suspect that Electrum Corporation is charging you undisclosed fees, however, we recommend seeking a third-party statement audit to eliminate hidden costs.
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