EXS Electronic Exchange Systems Review

EXS Electronic Exchange Systems Overview

EXS Electronic Exchange Systems May Have Overcharged You

If you accepted credit cards through EXS Electronic Exchange Systems or any other credit card processing company between 2017 and 2019, recent changes to the law may entitle you to refunds of certain debit card and credit card processing errors and overcharges. See this post to find out if your were among the businesses affected and to learn how you can get your money back.

Founded in 1997

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:

  • timesharesmerchantaccount.com
  • utakecreditcards.com
  • payproprocessing.com

Location and Ownership

EXS is a registered ISO/MSP for HSBC Bank USA, National Association, in Buffalo, New York and Wells Fargo Bank, N.A., Concord, California. EXS Electronic Exchange Systems appears to have multiple locations and is headquartered at 3400 Via Oporto, Suite 200, Newport Beach, California 92663. Peter Tatro is listed as the president and CEO of Electronic Exchange Systems.

EXS Electronic Exchange Systems Review Table of Contents

  • Costs & Contract: EXS Electronic Systems Exchange offers a one-year contract through Global Payments with an early termination fee that may reach or exceed $495.
  • Complaints & Service: EXS Electronic Systems Exchange has received more than 10 public complaints.
  • BBB Rating: EXS Electronic Systems Exchange does not have a rating with the Better Business Bureau and has received 0 complaints and 1 review in the past three years.
  • Sales & Marketing: EXS Electronic Systems Exchange appears to hire independent sales representatives and has received some complaints about its sales practices.
  • Rates & Fees: How Merchants Got The Best Rates With EXS Electronic Systems Exchange
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Products & Services Offered

Types of Businesses Served

  • Retail
  • E-commerce
  • Lodging
  • Restaurant

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EXS Electronic Exchange Systems Rates, Fees, and Costs

Key Points

Swiped Rate 1.00% - 4.99%
Keyed-in Rate 1.00% - 4.99%
Virtual Terminal Rate 2.90% + $0.30
Payment Gateway Fee $25 Per Month
Batch Fee $0.15
Early Termination Fee Up to $495
PCI Compliance Fee $4.95 Per Month (beginning after first year of contract)
Chargeback Fee $20
Monthly Service Charge $10
Monthly Minimum Fee $25
Equipment Lease Terms N/A

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 merchants 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 merchant.

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 that advertises 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.

Contract Terms

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’s contract terms to be competitive with the cheapest merchant accounts. Merchants are advised to carefully read all contract terms and inquire about the company’s early termination fee and service length.

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Response from EXS Electronic Exchange Systems

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EXS Electronic Exchange Systems Complaints & Customer Reviews

Key Points

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, two of which outright accuse the company of being a ripoff or a scam. Merchants report aggressive and misleading sales tactics, poor customer service, and chargeback policies that unfairly favor the customer.

EXS Electonic Exchange Systems Lawsuits

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 an “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.

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Response from EXS Electronic Exchange Systems

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EXS Electronic Exchange Systems BBB Rating Summary

Key Points - BBB

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

No BBB Complaints

EXS is not an accredited business with the Better Business Bureau and currently does not have a rating with the BBB. The company has received 0 complaints within the past 36 months, but it has received one informal negative review. It should be noted, however, that these informal reviews are not subject to verification by the BBB.

What Merchants Say

Despite having no complaints filed with the BBB, EXS has received 1 review. The review was negative in tone, with the merchant 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.

No Rating Assigned

The BBB maintains multiple profiles for EXS and Universal Business Systems, and none of the profiles have a consistent rating at this time, so it seems that it is having trouble tracking the company’s complaints. We therefore will not adjust the BBB’s rating until it is clear how it is compiling its ratings for EXS. Merchants should be aware that there are good reasons to be skeptical of BBB rankings.

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Response from EXS Electronic Exchange Systems

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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 Agents

According to merchant 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 merchant 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.

Sales Complaints

In one complaint, a merchant 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 complaint mentions aggressive sales tactics and difficulty cancelling the service after signing up. The other 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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Response from EXS Electronic Exchange Systems

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EXS Electronic Exchange System Logo

Our Opinion of EXS Electronic Exchange Systems

A Decent Provider

EXS Electronic Exchange Systems rates as an average merchant services provider according to our rating system. The company has a low complaint rate and roughly average contract terms. EXS Electronic Exchange Systems’s overall rating is likely to change once the BBB updates its profile for the company. For now, merchants will be best served by dealing with a top-rated overall provider.

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Thank you for reading my review. I hope that it has helped you with your research.

Why I'm Qualified to Write About Credit Card Processing and Merchant Account Services

I'm a former credit card processing sales director who left the industry because I didn't like how it takes advantage of small business owners. It feeds like a leech on businesses and thrives by imposing fees that are nearly impossible to comprehend. Seeing a need for change, I left and built this website help business owners better understand the industry, research merchant services providers, and get refunds of excessive merchant account fees. My experience of working "behind the curtain" in the industry, and using that knowledge for good, has resulted in millions of dollars returned to hard-working small business owners as well as enterprise-level companies.

From the time that I starting working in the merchant services industry to when I left to create this website, I've been on the pulse of payments for nearly 15 years. It didn't seem fair to keep this "insider" knowledge to myself. To lift the fog, I've reviewed hundreds of companies, read thousands of user reviews, and learned the pricing tricks of every provider. If you have questions about credit card processing, you can find the answers on this website.

How I Can Help You

I specialize in helping businesses get refunds of excessive fees and have recovered $1,567,184 this year alone! Submit a recent statement below to find out if you are getting overcharged. I'll take a look at it for free. If I find fees that can be refunded, hire me on contigency. I only get compensated if I put money back into your pocket.

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13 Reviews Leave Your Review for EXS Electronic Exchange Systems Below

  1. Mary Marrs says:

    Wow, I am so disappointed with this company. I used them for years but when I tried to stop them was unable to do so., I spoke with a person and they said that they would take care of the closing and stop the billing, but NO, this did not happen. We when I called again I spoke with Kyra, who, was sweet in tone, was rude in her tone. Said that she would not take care of this and, I am using my own words here, could just deal with it. Find some other way to doing business, may cost you a bit more, but you won”t get turned into collections for services that you did not use and had asked to be stopped. Very unhappy.

    From The Editor
    This Post Might Help: How to Get Out of a Merchant Account Contract

  2. Jesse M, says:

    My experience with Electronic Exchange Systems has been horrible as a card processing company for my engineering services. They charged me $495 termination fee after having only $1350 for processing in January 2016 and kept charging my account months later. They damaged my personal credit with all 3 bureaus in April 2017 for my EIN Corporate Business by
    using a collection agency which is illegal. Therefore I consider them to be a rip-off company for the little business.

  3. Sheila P says:

    Please, please save yourself the heartache and HOURS of wasted time on the phone and go with another provider–I truly feel that any provider would be better than this one. Their follow-through is horrible. Their customer service is equally horrendous. How this company stays in business, I have no idea.

  4. Joseph says:

    EXS Electronic Exchange System is a rip off company. They over sell marketing. Too much promises that will not happen in order to sign up with their company. Too many unexplained charges and costing more, no way of saving in this company. With out mentioning by their marketing representative, they have secret contract that i only know when I started quitting to them. They told me that i sign up for 3 years contract. And there is $300 termination fee. Dont get trap with this company.

  5. Lauren Doninge says:

    It is not possible to write a review that adequately describes how horrible our experience was with this company. Use any other company for your credit card processing. We are a small non-profit that needed to use credit cards at a golf tournament. We worked with Eric P from EXS and were told that the only charges would be a percentage of sales. There were no monthly carrying charges or other fees. The account would be dormant except for our annual events. They tapped out accounts and withdrew and withdrew and withdrew. We did not have the funds to fight them. RUN from this company.

  6. Allison says:

    Horrible…the fees more than doubled in a year….no explanation; definitely not worth the time and savings….

  7. v.c says:

    i have them currently in my business. The sales tactics are minimal I suppose. It must depend on who you talk to because when I opened the account there were fees I was never told about and then I got my 1st statement. Also a sales team manager who had to confirm my application told mee that some of the new reps were making claims and lying to people to make a sale. They were offering $300 sign up bonus at the time which i agreed to but only if you keep them for a year or pay back the $300. Sales rep also told me the money would be given to me via my bank account within a few days of signing up. Of course after talking to the sales rep manager she told me that it would in fact be 30 days after signing up. No one ever sent me a copy of my agreement everything was done over the phone. I only received emails that stated my account was approved and my log in info. They are ok but paypal was better for me.even though the percentage was higher…I wasnt charged monthly and I dont even process that much credit also it went straight to my paypal that day. This company has you wait 2 biz days for your money then all fees come out at end of the statement cycle

    I want to get rid of them but then I would have to pay the $300 back within 10 days of cancelling. .

  8. D. Tucker says:

    Electronic Exchange Systems, is a rip-off service under a big name. They are small minority business discriminators. With poor customer service, and don’t care about their merchant account holders, if you’re not a high volume account holder. They will also reverse all your transactions from card holders you’ve provided service and merchandise to, and not inform you till. I lost thousands of dollars on legitimate transactions through Electronic Exchange Systems.

  9. Lou Joslin says:

    I highly recommend EXS Credit Card Processing! I have been processing with them for over 8 years with no issues. They were even able to immediately replace my broken terminal with a brand new one. Plus, my processing rates are very LOW.

    1. Phillip Parker says:

      Hi Lou,

      Thank you for your comment. To ensure that testimonials are authentic, we ask that you reply to this comment with your business name and location. Thanks!

  10. Janina Kunze says:

    My name is Janina Kunze and I am independent massage therapist in Las Vegas, NV. In February 2012 I was offered Electronic Exchange Systems (EXS) services by their sales partner Silver State Payments. I refused the offer because I was already bound by a contract with different merchant company and did not want to pay double fees. In order to win me over and sign up with EXS, their sales partner Chuck Johns offered to pay me back all the fees I was charged by the other merchant from the time I would sign up with EXS until the end of term of my contract with the other merchant. Only under this condition of this agreement I have decided to sign contract with EXS. In May of 2013, at the end of my 3 year contract term with the other merchant company, I have contacted EXS sales partner and the company itself numerous times regarding my fees reimbursement, however received no response. I have called EXS sales representative and the company, I have faxed them my bank statements indicating the amount of money owed to me and they promised to take care of this matter, however to this day nothing has happened. I am very much disappointed in EXS performance and would not recommend their services to anyone.


    Janina Kunze, L.M.T.

  11. Betty Blaszkowski says:

    I owned a small coffee shop and used EXS for my processing. They made the process very easy and were very helpful. My agent even came back to set up my machine and show me to to use it.
    I had to close my shop due to health reasons and again they were very helpful and made it very easy. No pushy people trying to keep me from closing my account, and no fees.
    I had used a different processor before them, and the difference was night and day! I wish I had started using them when I first opened. I would recommend EXS to anyone.

    1. Phillip Parker says:

      Hi Betty,

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

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