Elite Payment Processing Review: Fees, Complaints & Lawsuits
(954) 462-0100 Company Overview
Founded in 2007, Elite Payment Processing is a merchant account provider based in Ft. Lauderdale, Florida. There is some evidence that Elite Payment Processing is partnered as a reseller of multiple processing companies. The company specializes in retail and multi-currency merchant accounts.
Article Summary
Before we dive in, here’s a short summary of what we’ll cover:
- Elite Payment Processing’s various payment processing services.
- There are few complaints about the company.
- There is little information about the company’s contract.
Elite Payment Processing Services
Elite Payment Processing processes all major debit and credit cards for most business types. Their services include EMV swipers, POS systems, mobile solutions, processing in 60+ currencies, and a number of e-commerce solutions. The e-commerce side of the business offers dynamic descriptors, transaction recycling, account updating, online reporting, recurring billing, virtual terminals, Level 2 and 3 B2B processing, and batch processing.
Card Not Present Solutions
Elite Payment Processing aims to offer payment flexibility to retain a solid customer base by providing a merchant account for seamless purchase completions. The service targets reducing customer attrition to competitors due to payment complications.
Retail Solutions
Elite payment retail solutions are aimed at capturing sales through a merchant account system, focusing on providing quick, secure credit, and debit transaction solutions.
Dual Pricing
Elite offers dual pricing, a strategy to incentivize cash payments by offering cost savings to customers, simultaneously reducing credit card transaction expenses for businesses. This can be integrated into the payment terminal or POS system, displaying both cash and credit prices.
Location & Ownership
Elite Payment’s headquarters is located at 7777 Glades Rd, Suite 100, Boca Raton, Florida 33434, and the company is a registered ISO/MSP of Synovus Bank. Bryan Facterman is the president of Elite Payment Processing.
Table of Contents
- Costs & Contract: Appears to offer tiered and interchange-plus pricing plans through…
- Complaints & Service: Has received fewer than…
- BBB Rating: Has no profile with the…
- Sales & Marketing: Appears to hire independent resellers and has received…
Elite Payment Processing Customer Reviews
Here's What Their Clients Say
| Item | Result |
|---|---|
| Total Online Complaints | <10 |
| Live Customer Support | Yes |
| Most Common Complaint | N/A |
| Recent Lawsuits | No |
Low Complaint Total
At the time of this update, we are unable to locate almost any Elite Payment Processing reviews on consumer protection websites. If you have your own Elite Payment Processing review to make, please do so in the comments below.
Elite Payment Processing Lawsuits
We have not found any outstanding class-action lawsuits or FTC complaints filed against Elite Payment Processing. Dissatisfied clients who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations.
Elite Payment Processing Customer Support Options
The company provides phone, an automated form, and email information on its website, but it doesn’t clearly identify which phone numbers are intended for customer service. This is an obvious step that could help the company compare favorably to the top-rated payment processors for great customer service.
Given the long list of processors previously seen on the company’s contact page, it is possible that multiple other companies handle customer support for Elite Payment Processing. They may also absorb some of Elite’s complaints on their own online profiles. Since it’s nearly impossible to chart whether this is occurring, we will favorably assume that Elite Payment’s spotless record is the product of an outstanding customer support department.
Elite Payment Processing Customer Service Numbers
- (877) 330-3313 – Toll-Free Support
- (954) 462-0100 – Local Office
- (954) 835-4000 – Fax
Other Support Options
- Support form
- Customer service email addresses at:
Elite Payment Processing Online Ratings
Here's How They Rate Online
| Item | Result |
|---|---|
| BBB Reports | 0 |
No Profile
Elite Payment Processing no longer has a BBB profile.
Elite Payment Processing Fees, Rates & Costs
A Closer Look at The Contract
| Item | Result | >
|---|---|
| Cancellation Penalties | Likely |
| Monthly & Annual Fees | Likely |
| Processing Rates | Variable |
| Equipment Leasing | Likely |
Variable Contract Terms
As of this update, there is very little information available about the standard Elite Payment Processing contract. At the time of an earlier update, the contact page of Elite Payment Processing’s website listed phone numbers for four different credit card processors: National Processing Company (NPC) (now absorbed into Worldpay), Priority Payment Systems, First Data (now Fiserv), and Newtek Merchant Solutions. These contracts include early termination fees of up to $495 and PCI compliance fees as high as $19.95 per month. It is therefore possible that Elite Payment Processing resells contracts from any or all of these entities, and contract terms are likely to vary depending on a business’ type, size, and time in business. Almost all of those providers enforce long-term, non-cancellable equipment leases for a term of up to 48 months.
Virtual Terminal and Payment Gateway Pricing
In addition to reselling those contracts, the company also provides a virtual terminal and gateway services to merchants. These services often include gateway fees and other costs for technical support and membership costs. Elite Payment Processing’s website does not disclose these fees. However, the website does list the company as a preferred reseller of Authorize.net, whose gateway fee is $25 per month. Payments processed through Authorize.net’s gateway are also subject to a rate of 2.9% plus $0.30 and a batch fee of $0.10. That said, Elite Payment Processing reserves the right to alter these terms and conditions as a preferred reseller. The ability to alter these terms and conditions demonstrates the importance of understanding how to negotiate lower rates and fees.
Level 2 and Level 3 Processing Services
In addition to its traditional merchant services, Elite Payment Processing also advertises that it provides Level 2 and Level 3 processing for B2B and B2G transactions. Level 2 and level 3 processing rely upon different interchange rates than traditional consumer credit transactions. Accommodating those rates requires different payment processing technology from a merchant account provider to transmit the amount of data required to facilitate the transactions. These services are reserved for B2B and B2G purchases that utilize corporate credit cards.
No Red Flags
The total absence of complaints about Elite Payment Processing on the usual consumer protection forums suggests that most of the company’s clients are satisfied with their contract terms. However, we have also seen no indication that Elite Payment Processing’s pricing competes with the cheapest merchant accounts. If you have any knowledge of the standard Elite Payment contract (including possible early termination fees or PCI Compliance fees), please leave that information in the comment section of this review.
Elite Payment Processing also offers B2B services
Elite Payment Processing Employee Reviews & Sales Tacitcs
Should You Work For Them?
| Item | Result |
|---|---|
| Uses Independent Resellers | Yes |
| Telemarketing | Likely |
| Misleading Marketing | No |
| Discloses All Important Terms | No |
Inside and Outside Sales Staff
Elite Payment Processing appears to rely on its website and its network of clients to market its services, and there is some evidence that the company utilizes telemarketing and independent sales agents. We were unable to locate any Elite Payment Processing reviews that mention a problem with the sales team, and the company does not appear to engage in deceptive advertising strategies. That said, we always recommend that readers consider a third-party statement audit to find and eliminate hidden fees.
One Agent Complaint
One relatively recent complaint in the comment section of this review was posted by a sales agent with the company, and the agent claims that she was pressured to buy leads from the company at a very high cost with minimal return on her investment. This type of issue likely has little impact on the client experience, but it’s worth bearing in mind as a piece of the company’s overall sales operation. If you have any experience with Elite Payment Processing’s sales team, please describe that communication in the comment section of this review.
Our Elite Payment Processing Review Summary
Our Final Thoughts
By all available indicators, Elite Payment Processing rates as an excellent credit card processing provider. We are able to locate few complaints about the company, and there does not appear to be anything deceptive about the way it advertises itself. Even when dealing with credit card processors that rate highly by our standards, we encourage readers to carefully examine the terms of any contract they are given and to compare its pricing to the top overall providers.
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Jayna Peters
I started with Elite services in July of 2016 and was told I had to buy 50 “Reliable” vendor names to be really successful on top of supplying my own 10 names per week. Those 50 ‘Reliable” were priced at $5,000! I was told not to worry, they would cover half the cost and I could finance the rest. I had a “coach who was nice enough but she kept giving me excuses why everyone was just on the verge of signing for a machine but never did.
As of the end of December I still didn’t have a sale and I quite paying for “my half” of the names fee. No one ever questioned why I wasn’t paying and I never heard from my coach again. Sounds like an admission of a rip-off to me.