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EXS Electronic Exchange Systems 2023: Reviews & Complaints
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EXS Electronic Exchange Systems is a merchant account provider headquartered in Newport Beach, California. The company was sold to Total Merchant Services but continues to operate as a separate brand. EXS is an ISO of Global Payments. EXS also goes by the name of Universal Business Systems and PayPro Processing. Founded in 1997, the credit card processor appears to own a number of websites, and a couple use different business names to target different industries. Some of EXS Electronic Exchange Systems’s web addresses are listed below:
Before we dive in, here’s a short summary of what we’ll cover:
- Electronic Exchange Systems’ various payment processing services.
- The company has not received many complaints online. Complaints from the past often mentioned sales issues.
- Electronic Exchange Systems’ contract is through Global Payments and features a number of expensive fees and terms.
Electronic Exchange Systems Payment Processing
Electronic Exchange Systems processes all major debit and credit cards for most business types. Their services include EMV card readers and swipers, POS solutions, MOTO, e-commerce solutions, check and e-check processing, cash advances, gift and loyalty programs, and EBT processing.
Range of Account Types
EXS Processing caters to a variety of business types, including mail order, telephone order accounts, retail accounts, and internet accounts. This suggests they offer tailored solutions depending on the merchant’s sales environment.
Location & Ownership
EXS is a registered ISO of HSBC Bank USA, National Association, Buffalo, NY. EXS Electronic Exchange Systems appears to have multiple locations and is headquartered at 303-B Anastasia Blvd., Ste. 123 St. Augustine, FL 32080, though the BBB lists them at 3901 MacArthur Blvd Newport Beach, CA 92660. Peter Tatro is listed as the president and CEO of Electronic Exchange Systems.
Table of Contents
EXS Electronic Exchange Systems Customer Reviews
Here's What Their Clients Say
|Total Online Complaints||10+|
|Live Customer Support||Yes|
|Most Common Complaint||Sales Tactics|
Low-Moderate Complaint Total
We are currently able to locate more than 10 negative EXS Electronic Exchange Systems reviews, a few of which outright accuse the company of being a ripoff or a scam. Clients report aggressive and misleading sales tactics, poor customer service, and chargeback policies that unfairly favor the customer. If you have your own EXS Electronic Exchange Systems review to make, please do so in the comments below.
EXS Electonic Exchange Systems Lawsuits and Fines
We have not found any outstanding class-action lawsuits or FTC complaints filed against EXS Electronic Exchange Systems. Dissatisfied merchants who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations.
EXS Electonic Exchange Systems Customer Support Options
For a company that has been in business since 1997, this is a low complaint rate. However, the company’s use of DBAs, ISOs, and the Global Payments processing network means that some EXS complaints could be funneled to the online profiles of these other companies. In the absence of any evidence that this is occurring, we are awarding the company a “B” rating in this category for the time being. The company offers a dedicated phone support line and email address on its website, but these channels are not sufficient to qualify it as a top-rated merchant account provider for customer service.
EXS Electonic Exchange Systems Customer Service Number
- (877) 865-7744 – Toll-Free Customer Support
Other Support Options
- Customer support email address at [email protected]
EXS Electronic Exchange Systems Online Ratings
Here's How They Rate Online
No BBB Complaints
EXS is not an accredited business with the Better Business Bureau and currently has an “A+” rating with the BBB. The company has received 0 complaints within the past 36 months.
What Merchants Say
EXS has no current reviews on its profile, although it previously had 1. The review was negative in tone, with the client expressing their dissatisfaction over the company’s services being overpriced:
The absolute WORST in credit card processing, HANDS DOWN. Don’t walk, RUN from this overpriced, ridiculously
obnoxious Company. You will be very glad you did!
Despite the reviewer’s opinion, the company does not rank among the worst merchant account providers on this website. Nevertheless, merchants should review their options for the cheapest merchant accounts to avoid an experience like this.
An “A” Performance
Due to the clean profile, we agree with the BBB’s rating of an “A” at this time.
EXS Electronic Exchange Systems Fees, Rates & Costs
A Closer Look at The Contract
|Monthly & Annual Fees||Yes|
EXS Electronic Exchange Systems Pricing
The standard EXS Electronic Exchange Systems Merchant Agreement is a payment processing agreement through Global Payments for at least one year with no PCI Compliance fees for the first year ($4.95 monthly after that), a monthly minimum fee of $25, a $10 monthly service charge, a $20 chargeback fee, and a tiered pricing structure. The document does not list an early termination fee, but two separate clients have cited a $300 termination fee and one has cited a $495 termination fee. In addition, a page on the company’s website at one point outlined a Liquidated Damages early termination fee, which could potentially be very expensive for a business. We encourage readers to check out our list of the providers of the best merchant services.
Virtual Terminal and Payment Gateway Pricing
In addition to its storefront payment processing services, EXS Electronic Exchange Systems also dedicates a portion of its website to advertising its virtual terminal and payment gateway services, provided by Authorize.Net. A typical merchant agreement through Authorize.Net includes a transaction rate of 2.90% plus $0.30, a gateway fee of $25 per month, and a batch fee of $0.15. However, as a reseller of its services, EXS Electronic Exchange Systems reserves the right to alter these terms and conditions.
The company also appears to offer a free terminal placement program that is either identical to or affiliated with that offered by Total Merchant Services. Overall, these terms appear to be slightly more favorable than industry averages, which is consistent with our rating of Global Payments. However, we do not consider EXS Electronic Exchange Systems’ contract terms to be competitive with the cheapest merchant accounts. Readers are advised to carefully read all EXS Electronic Exchange Systems contract terms and inquire about the company’s early termination fee and service length.
EXS Electronic Exchange Systems Employee Reviews & Sales Tacitcs
Should You Work For Them?
|Uses Independent Resellers||Yes|
|Discloses All Important Terms||No|
Outside Sales Agents
According to Client complaints, Electronic Exchange Systems partners with ISOs and independent sales agents to market its services. This marketing practice usually has a dual effect of increasing client complaints about a company and dispersing these complaints across several independent offices with different names. In this case, we are able to locate eight negative EXS Electronic Exchange Systems reviews that accuse the company’s sales team of unethical sales tactics. This does not compare favorably to our list of best credit card processors.
In one EXS Electronic Exchange Systems complaint, a business owner claims to have been promised by an EXS agent that the company would reimburse her for the cost of switching to EXS, only to receive no reimbursement whatsoever. Another EXS Electronic Exchange Systems complaint mentions aggressive sales tactics and difficulty canceling the service after signing up. The other EXS Electronic Exchange Systems complaints describe a lack of follow-through on agreed-upon contract terms, misrepresentation of a company promotion, and undisclosed costs. Although the company is showing under ten complaints about its sales team, the fact that they have been posted with regularity about the same issues suggests that there are real shortcomings in its sales practices.
No Deceptive Advertising
To its credit, EXS does not appear to engage in deceptive advertising strategies in its official materials. If you suspect that Electronic Exchange Systems is charging you undisclosed fees, we recommend seeking a third-party statement audit to find and eliminate hidden charges.
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