Elite Merchant Solutions Review

Elite Merchant Solutions, founded in 2002, provides merchant accounts, bank card authorization, and settlement services to merchants nationwide. The company also goes by the name Elite Data Processing and is a reseller of TSYS and First Data (now Fiserv). It advertises Clover and Foundry as POS solutions. Elite Merchant Solutions should not be confused with Elite Merchant Services or Elite Payment Processing, as both are two separate companies. In 2021, Elite Merchant Solutions partnered with QuickFee to enter the Buy Now, Pay Later space.

Payment Processing

Elite Merchant Solutions handles payment processing for all major debit and credit cards across various business types. Their services include POS solutions and terminals, check processing, payment gateways, ATM machines, Ameridoc telemedicine services, the DataMiner data tracking tool, QuickBooks integration, wholesale rates, cash advances, and gift programs such as Yiftee.

Customizable Point-of-Sale Systems

Elite Merchant Solutions provides customizable point-of-sale (POS) systems designed for industries like retail, hospitality, and healthcare.

Mobile Payment Processing

Elite Merchant Solutions’ mobile payment processing allows businesses to accept payments via smartphone or tablet.

E-Commerce Payment Gateway Integration

The company offers e-commerce payment gateway integration to provide businesses with a seamless online payment experience.

Virtual Terminal Services

Elite Merchant Solutions provides virtual terminal services for processing phone and mail orders.

Security Measures and Fraud Prevention

Security and fraud prevention are key priorities for Elite Merchant Solutions. The company adheres to industry standards such as PCI compliance and employs advanced security measures to protect sensitive data and reduce the risk of fraud.

Various Complaints

Through our research, we identified numerous Elite Merchant Solutions reviews expressing dissatisfaction. Some of these reviews label the company as a scam or ripoff. A notable complaint from 2010 describes a dispute over the company’s contract terms concerning cancellation fees. Specifically, a business owner, after agreeing to the contract with Elite Merchant Solutions, decided to cancel their account last-minute and was surprised by a $500 cancellation fee. Other grievances include issues like undisclosed fees, challenges with account cancellation, and problems with chargeback resolutions. We encourage individuals with experiences related to Elite Merchant Solutions to share their reviews and customer complaints in the comments below to foster transparency and community support.

Elite Merchant Solutions Customer Support Options

Elite Merchant Solutions collaborates closely with TSYS and First Data (now Fiserv), which might direct some customer service inquiries and customer reviews to these processors. Although the company provides multiple dedicated phone support lines and an email form on its website, it currently does not align with our criteria for being classified as a leading credit card processor in terms of customer support. This assessment is based on the range and efficacy of available support options.

PaymentPop Rating for Elite Merchant Solutions

Negative Feedback

There are no negative reviews published about Elite Merchant Solutions on the PaymentPop website.

Elite Merchant Solutions BBB Rating

Elite Merchant Solutions has been an accredited business of the Better Business Bureau since 2009 and currently maintains an “A+” score. The BBB complaint summary shows 0 complaints in the last 36 months. Elite Merchant Solutions has a 1 out of 5 star rating based on 5 user reviews on the Better Business Bureau website.

Elite Merchant Solutions has received 3 informal reviews in the last 36 months, all positive. A previous negative review mentions bad customer service and a cancellation fee:

Rates, customer service, and a straightforward application process are all important aspects of merchant services. Nevertheless, the company does not rank as one of our best merchant account providers.

An “A” Performance Overall

In light of the report’s age and the figures shown, we will not adjust the BBB’s rating at this time.

Google Maps Rating for Elite Merchant Solutions

Elite Merchant Solutions has a 4.9 out of 5 star rating based on 48 user reviews on Google Maps

Three-Year Agreement

There is limited information available about the standard contract terms offered by Elite Merchant Solutions. A review mentioned a three-year agreement with a $500 early termination fee, which was confirmed by a company representative. Additionally, reports indicate another three-year agreement with a $350 termination fee.

Virtual Terminal and Payment Gateway Pricing

In addition to its in-store payment processing services, Elite Merchant Solutions advertises its virtual terminal and payment gateway services. While First Data (Fiserv) and TSYS offer their own gateways, Elite Merchant Solutions utilizes eProcessing Network as its gateway provider. eProcessing Network charges a gateway fee of $0.05 per transaction and a monthly fee ranging from $8 to $10.

Variable Contract Terms

As an ISO of TSYS and First Data (Fiserv), Elite Merchant Solutions likely aligns its contract terms closely with those companies’ standard agreements. These agreements typically include long-term equipment leases that cannot be canceled. However, variations in contract terms may occur due to Elite’s use of outside sales agents.

An official complaint response from a company representative states that Elite will honor a month-to-month agreement signed by management, provided it is signed by management to be valid. If you have insights into the standard Elite Merchant Solutions contract (including any PCI compliance fees or monthly minimum fees), please share them in the comments section. We also recommend businesses explore our list of the best merchant accounts.

As of our latest update, there are no recorded class-action lawsuits or Federal Trade Commission (FTC) complaints against Elite Merchant Solutions. Customers seeking alternatives to litigation for resolving disputes with the company may find it beneficial to report their experiences to appropriate regulatory bodies. Such steps not only contribute to personal resolution efforts but also aid in maintaining industry standards.

Outside Sales Reps

Elite Merchant Solutions appears to rely on referral partnerships and independent sales agents to market its services. The use of independent sales agents typically results in high complaint rates, and we have found a number of negative Elite Merchant Solutions reviews that cite pushy, rude sales calls and agent attempts to upsell services. This does not compare favorably to our list of best credit card processors.

No Deceptive Advertising

Elite Merchant Solutions does not appear to engage in any deceptive advertising strategies in its official materials. The few Elite Merchant Solutions complaints that are available mention nondisclosure of fees by representatives, with varying resolutions offered by management. For instance, we were able to locate one Elite Merchant Solutions complaint alleging nondisclosure of a cancellation fee, but this accusation was fully retracted once the company acceded to the client’s demands.  Elite Merchant Solutions complaints of this variety have been posted with less frequency in recent years. Still, if you suspect that Elite Merchant Solutions is charging you undisclosed fees, we recommend seeking a third-party statement audit to find and eliminate hidden charges.

Elite Merchant Solutions is recognized as an above-average provider in the credit card processing services industry according to our assessment standards. The company demonstrates a commendably low complaint rate relative to its size and duration of operation, suggesting a satisfactory level of customer satisfaction. However, the contract details accessible for review do not appear to be particularly competitive within the market, which could influence the company’s attractiveness to potential clients.

The overall rating of Elite Merchant Solutions remains subject to revision as more comprehensive information regarding the specifics of the company’s contract terms becomes accessible. This forthcoming data could significantly impact our assessment, potentially altering its standing either positively or negatively. Until such details are more transparent, businesses are advised to rigorously compare Elite’s pricing structures with those offered by the leading providers in the credit card processing field.