Electrum Corporation 2023: Reviews & Complaints

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Electrum Corporation Rating
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Company Overview

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.

Article Summary

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

Key Points

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

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

BBB Reports 0

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

Key Points

Cancellation Penalties Unclear
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?

Key Points

Uses Independent Resellers No
Telemarketing No
Misleading Marketing 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.

Our Electrum Corporation Review Summary

Our Final Thoughts

Electrum Corporation rates as a reliable credit card processing provider according to all available information. The company’s exact lineup of products and services is not entirely clear at this time, but it does enjoy a clear complaint record across all consumer protection websites. Our grade for Electrum Corporation may be subject to change once more is known about its product lineup and contract terms. Even when dealing with an “A” rated provider, readers are encouraged to read all contract terms and to compare its offerings to those of top-rated credit card processors.

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Your Comments & Reviews

How Did Electrum Corporation Treat You?

1 Responses

  • Milo Elaine

    I am thrilled to share my experience with Electrum Corporation. Working with them has been an absolute game-changer for my business. The level of professionalism they bring to the table is unmatched, yet they keep the whole process surprisingly casual and stress-free.

    From day one, Electrum’s team demonstrated an exceptional understanding of our unique needs. Their solutions were tailored perfectly, ensuring our goals were not only met but exceeded. The attention to detail and prompt communication made collaborating with them a breeze.

    Thanks to Electrum’s innovative products and services, we’ve witnessed a significant boost in efficiency and productivity. Their cutting-edge technology has streamlined our operations and saved us both time and money.

    I can confidently say that Electrum Corporation is the partner every business needs. Their expertise and commitment to excellence have undoubtedly set them apart from the rest. I highly recommend them without hesitation.

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