Federated Payments Overview
Recently Acquired by EVO Payments International
Founded in 1999, Federated Payments (federatedpayments.com) is a merchant account provider that offers a variety of merchant services. The company is a moderate-sized provider within the industry, having eclipsed 25,000 merchants in 2008. In September 2018, both Federated Payments and its Canadian affiliate (Federated Payments Canada) were acquired by EVO Payments International. It seems likely that the company will be completely absorbed into the EVO brand, as Federated has already laid off over half of its staff. For the time being, however, both Federated brands appear to still be operating independently.
Part of The Federated Group
Federated Payments appears to be the flagship member of The Federated Group, a network of companies that includes Volt Payments, National Debit Card Network, MSI Canada (msicanada.net), Federated Payments Canada (federatedcanada.com), U.S. Bankcard Center (gotousbc.com), and Wholesale Merchant Services Canada (wholesalemerchantservices.ca).
Federated Payments Location and Ownership
Federated Payments is sponsored by Deutsche Bank AG, New York, as its Acquiring Bank and is headquartered at 1 Huntington Quad, Fourth Floor, Center Building, Melville, New York. The company’s founder and president is John Guirguis, and its CEO is Jon Levitt.
- Costs & Contract: Federated Payments offers a three-year contract with an early termination fee of $295.
- Complaints & Service: Federated Payments has received more than 50 public complaints.
- BBB Rating: Federated Payments has an “A+” rating and has received 1 complaint in the past three years. The company has been accredited by the Better Business Bureau since 2016.
- Sales & Marketing: Federated Payments appears to hire independent sales agents and has received a moderate number of complaints about its sales practices.
- Rates & Fees: How Merchants Got The Best Rates With Federated Payments
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