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Elite Merchant Solutions Review

Phillip Parker
Phillip Parker

I was tired of watching unethical merchant services companies take advantage of unsuspecting business owners, so I built this website and wrote hundreds of reviews to expose their shady business practices.

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Elite Merchant Solutions Overview

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Rating

4.3/5
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Most Recent Comment

  • C.J:
    "Elite Merchant Solutions has been up front with their pricing, hands on with their service, and far more affordable than the two previous options I had.
    Reply Leave Your Own Comment
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Rating:
4.3/5
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Most Recent Comment

  • C.J:
    "Elite Merchant Solutions has been up front with their pricing, hands on with their service, and far more affordable than the two previous options I had.
    Reply Leave Your Own Comment
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Offering Merchant Services Since 2002

Elite Merchant Solutions, founded in 2002, provides merchant accounts, bankcard 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. 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 2 separate companies.

Location and Ownership

Elite Merchant Solutions can be found at 16600 Sherman Way #205, Van Nuys, California 91406. The company is a registered ISO/MSP of Woodforest National Bank, N.A., Houston, Texas. The Better Business Bureau does not currently list a CEO, however Justin Milmeister was the last listed president and CEO of Elite Merchant Solutions.

Elite Merchant Solutions Review Table of Contents

  • Costs & Contract: Elite Merchant Solutions appears to offer a three-year contract with an early termination fee ranging from $350 to $500. The company utilizes eProcessing Network as its gateway provider.
  • Complaints & Service: Elite Merchant Solutions has received approximately 10 public complaints.
  • BBB Rating: Elite Merchant Solutions has an “A+” and has received 3 complaints and 14 reviews in the past 3 years. The company has been accredited by the Better Business Bureau since 2009.
  • Sales & Marketing: Elite Merchant Solutions appears to hire independent sales representatives and has received a few merchant complaints about its sales practices.
  • Rates & Fees: How Merchants Got The Best Rates With Elite Merchant Solutions
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Elite Merchant Solutions Rates, Fees, and Costs

Elite Merchant Solutions Rates, Fees, and Costs

Cost Summary

Swiped Rate 1.00% - 4.99%
Keyed-in Rate 1.00% - 4.99%
Virtual Terminal Rate 1.00% - 4.99%
Payment Gateway Fee $0.05 Per Transaction
Monthly Fee $8 - $10
Early Termination Fee $350 - $500
PCI Compliance Fee $79 Per Year
Equipment Lease Terms 48 Month (locked)

Three-Year Agreement

There is very little information available regarding the standard Elite Merchant Solutions contract. We were able to locate one complaint that made a mention of a three-year agreement with a $500 early termination fee, which a company representative confirmed in her response. We have also seen reports of a three-year agreement with a $350 termination fee.

Virtual Terminal and Payment Gateway Pricing

In addition to its storefront payment processing services, Elite Merchant Solutions also dedicates a portion of its website that advertises its virtual terminal and payment gateway services. Thought First Data and TSYS offer their own payment gateways, Elite Merchant Solutions advertises eProcessing Network as its gateway provider. eProcessing Network charges a gateway fee of $0.05 per transaction and a monthly fee of $8 to $10.

Variable Contract Terms

Because Elite Merchant Solutions is an ISO of TSYS and First Data, it is reasonable to assume that the standard Elite contract closely resembles those companies’ standard contracts. While rates and fees vary between the 2, each of those providers includes long term equipment leases in their merchant agreements which cannot be canceled. However, Elite’s apparent use of outside sales agents means that contract terms may be subject to variation depending on the agent setting up the account. One official complaint response from a company representative states the following with regard to agent alterations: “If the merchant has a month to month agreement signed by management certainly Elite will honor that document. However, the document must be signed by management to be valid.” If you have any knowledge of the standard Elite Merchant Solutions contract (including any PCI compliance fees or monthly minimum fees), please leave that information in the comment section of this review.

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Elite Merchant Solutions BBB Rating Summary

BBB Summary

Product & Service Complaints 2
Billing & Collection Complaints 1
Advertising & Sales Complaints 0
Guarantee & Warranty Complaints 0
Delivery Complaints 0

Low Complaint Total

Elite Merchant Solutions is an accredited business of the Better Business Bureau and currently maintains an “A+” score. The company has been an accredited business since 2009. The BBB complaint summary shows 3 complaints in the last 36 months. 1 complaint was associated with billing/collection issues while 2 problems were left in regard to a problem with a product or service. None of the complaints were successfully resolved while the 3 remaining complaints either were resolved to the dissatisfaction of the merchant or did not receive a final response from the merchant.

What Merchants Say

In addition to those 3 complaints, the company has also received 14 informal reviews on its BBB profile. 13 of the reviews are positive while only 1 is negative. Elite Merchant Solutions has responded to the negative interview. It should be noted that the BBB does not authentic its reviews as it does with complaints filed against businesses. The inconsistency of this review gives merchants reason to be skeptical of the BBB’s rating system.

An “A” Performance Overall

There are also 24 informal reviews posted to the company’s BBB page, all of which are positive in tone except for two. In light of the report’s age and the figures shown, we will not adjust the BBB’s rating at this time.

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Truth In Marketing & Advertising

Key Points

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

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 reviews that cite pushy, rude sales calls and agent attempts to upsell services.

No Deceptive Advertising

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 complaint alleging nondisclosure of a cancellation fee, but this accusation was fully retracted once the company acceded to the merchant’s demands. 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 does not appear to engage in any deceptive advertising strategies in its official materials.

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Our Opinion Of Elite Merchant Solutions

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An Above Average Option

Elite Merchant Solutions rates as an above average merchant services provider according to our rating system. The company has a low complaint rate for its size and time in business, but the few contract details we have been able to locate aren’t very competitive. The company’s overall rating is likely to change once more information about Elite’s contract terms becomes available. For now, merchants should compare the company’s pricing to that of top overall providers to obtain the best deal.

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Why I'm Qualified to Write About Credit Card Processing

I’m a small business owner who previously worked in the credit card processing industry. I started this blog in 2009 to help other business owners by exposing credit card processors that engage in unethical marketing, rate and fee trickery, and fine-print-contract schemes. Over the last decade, I’ve reviewed hundreds of merchant services providers which has helped to educate over 5 million businesses on the nuances of credit and debit card acceptance. I’ve appeared in the New York Times, Los Angeles Times, Inc. Magazine and a host of other publications to offer insight on the subject of card acceptance. 

I offer merchant account and credit card processing consultation for the following needs:

  • Selecting the right credit card processing services for your business.
  • Reducing credit card processing fees with your current merchant account provider.
  • Negotiating credit card processing fees when changing merchant accounts.
  • Strategies for reducing and recovering funding holds and chargebacks.

 

Schedule a call with me today!

 

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Elite Merchant Solutions has been up front with their pricing, hands on with their service, and far more affordable than the two previous options I had.

0
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Hi C.J.,

Please reply to this comment with your business name and location in order to authenticate your testimonial. Thanks!

0
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Since switching over, I have been very pleased. Have had a couple of small issues that were resolved right away. Kevin has been my contact and gets things done! Thank you.

0
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Hi Shawn,

Please reply to this comment with your business name and location in order to authenticate your testimonial. Thanks!

0
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Excellent service and rates! Our business has saved a lot of money on processing fees and I highly recommend Elite Merchant Solutions!

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Hi Anne,

Please reply to this comment with your business name and location in order to authenticate your testimonial. Thanks!

0
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My rep Bjay has been amazing on his follow up and follow through! If he says he’s going to do it, he does! If I have a question or need help with something, he follows through with all the information I needed. If he doesn’t know the answer, he finds and gets back to me. He’s consistent and always available. I have past experience with several other huge processing companies and their rates would rise over time and their contracts were horrible – with Elite, I have GREAT low rates and NO contract. This is truly service with a smile!

0
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It was a change for my business. And I was hesitant about it and Bjay was very understanding about it. Help me out step by step. I very pleased and satisfied.

0
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Hi Oshin,

Please reply to this comment with your business name and location in order to authenticate your testimonial. Thanks!

0
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We switched over to Elite Merchant Solutions about a year ago, off of a friend’s recommendation. We not only have saved money, but have gained such personal attention. Any questions we have had, we contact our rep. and he usually answers his phone or get back to us right away.

0
Reply

Elite Merchant Solutions helped me when I really needed an honest consultation. Mr. Harold Robles from the Latin Business Division was great! I am now saving $1,000.00 each month. and can say that each time I have called Harold or his customer service team were awesome! I recommend Harold Robles to assist you for a Quote.

0
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My agent Harold Robles convinced me to trust a merchant service provide again. Since he has been assisting me on my merchant account I have received the best service by far and a savings of $150.00 monthly. Contact him if you’d like an honest representative.
Mi Agente Harold Robles me convencio en tener confianza en una empresa procesadora de tarjetas de credito una vez mas,. Despues de tantas companias estafadoras ahora tengo ahorro de $150.00 al mes y buen servicio hasta en espanol. Gracias Harold

0
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Hi German,

Please reply to this comment with your business name and location in order to authenticate your testimonial. Thanks!

0
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Great Service and great rates. Mr. Harold Robles assisted me with all of my questions that I had in reference to merchant services. The consultation really helped me get more familiarized with the industry and I am thankful for a an honest agent and company.

0
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Company continued to charge me for PCI compliance fees for over a year on an account that was no longer active, and would only refund 1/3 of the amount when I brought it to their attention. I will be cancelling this service as soon as my contract allows.

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