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Equity Commerce Review
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UPDATE 12/26/2018: One version of the Equity Commerce website (equitycommerce.net) currently redirects to a SignaPay payment gateway login page, and it appears that it has been doing so for more than a year. The other company domain (equitycommerce.com) redirects to SignaPay’s website (signapay.com). It appears that Equity Commerce has been fully absorbed into SignaPay, therefore we will no longer update this review. For up-to-date information about this company, please see our SignaPay review.
Equity Commerce, L.P. (equitycommerce.com and .net) is a small merchant account provider that is fairly new in the credit card processing industry. Founded in 2005 and based in Hagerstown, Maryland, the company appears to use Cynergy Data as its processor, but it could also be acting as a reseller for several other companies. Equity Commerce was acquired by SignaPay in 2012, which may also have an effect on the services it offers. Equity Commerce is a registered ISO/MSP of BMO Harris Bank, N.A., Chicago, Illinois, and Esquire Bank, Garden City, New York, and is located at 18223 Shawley Dr, Hagerstown, Maryland 21740-2443. Jeff Brown is listed as the vice president of operations and finance for Equity Commerce.
- Sales & Marketing: Equity Commerce does not engage in misleading sales tactics and has not received complaints about its sales team.
- Costs & Contract: Equity Commerce appears to offer standard contracts through Cynergy Data and Esquire Bank with variable terms.
- Complaints & Service: Equity Commerce has received very few public complaints.
- BBB Rating: Equity Commerce has an “A+” rating with the Better Business Bureau and has received one complaint to its profile.
- Rates & Fees: How Merchants Got The Best Rates With Equity Commerce
Equity Commerce Customer Reviews
Here's What Their Clients Say
|Total Online Complaints||<10|
|Live Customer Support||Yes|
|Most Common Complaint||N/A|
We are currently able to locate only one Equity Commerce negative review, but this review accuses the company of being a scam. The merchant in this case expresses difficulty cancelling service with Cynergy Data and trouble reaching customer support to resolve the issue, but this appears to be an isolated incident from over three years ago. The general absence of complaints about Equity Commerce leads us to believe that most of the company’s clients are satisfied with their service. The company offers phone and email contact information on its website, but it is unclear whether these channels are serviced by Equity or by one of its processors.
Equity Commerce Online Ratings
Here's How They Rate Online
|Product & Service Complaints||1|
|Billing & Collection Complaints||0|
|Advertising & Sales Complaints||0|
|Guarantee & Warranty Complaints||0|
As of this review, Equity Commerce is not accredited with the Better Business Bureau and has an “A+” rating with one complaint filed in the last 36 months. This complaint was filed in relation to a product or service problem and was either resolved to the dissatisfaction of the merchant or did not receive a final response from the merchant. The company has also not received any informal reviews on its BBB profile, although it’s worth noting that these reviews are not subject to verification by the BBB. In light of the fact that the company only has one complaint, we agree with the BBB’s rating.
Equity Commerce Fees, Rates & Costs
A Closer Look at The Contract
|Early Termination Fee||Variable|
|PCI Compliance Fee||Variable|
|Equipment Lease Terms||Variable|
Equity Commerce appears to offer at least two different contracts (available below) through two separate acquiring banks. The first contract is a three-year agreement through Cynergy Data/Harris Bank with automatic one-year renewal and an early termination fee of $495. The second contract is a three-year agreement through Esquire Bank with automatic three-year renewal, a PCI non-compliance fee of $19.99, and a variable early termination fee. Both contracts do not disclose the exact rate structure offered to the merchant, but the company claims on its website that this is interchange-plus pricing. There is also no mention in either contract of a specific figure for a PCI Compliance fee. Regardless, it is clear that Equity offers a wide range of potential rates and fees, which may be expensive or competitive depending on the version provided. Merchants are advised to read their contract terms carefully and ensure they have both the application and the program guide when applicable. See the Equity Commerce contract through Cynergy Data and the Equity Commerce contract through Esquire Bank.
Equity Commerce Employee Reviews & Sales Tacitcs
Should You Work For Them?
|Employs Independent Resellers||Yes|
|Advertises Deceptive Rates||No|
|Discloses All Important Terms||No|
Equity Commerce appears to partner with ISOs and independently contracted sales agents to market its services. This hiring practice is usually tied to elevated complaint rates, but we are currently unable to locate any Equity Commerce reviews that describe unethical conduct by the company’s sales team. The Equity Commerce website advertises interchange-plus pricing, which is the most transparent pricing structure available, and we have not found any information that contradicts this claim. The company also does not appear to engage in deceptive advertising strategies in its official materials.
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