Fidelity Payment Services Overview
Backed By Several Processors
Fidelity Payment Services is a registered independent sales organization (ISO) of Wells Fargo Bank, NA, Concord, California and Elavon that markets merchant accounts and credit card processing services to U.S., Canada, and UK merchants on behalf of several processors such as First Data, Chase Merchant Services, and Elavon.
Location and Ownership
Headquartered at 141 Flushing Ave Ste 501, Brooklyn, NY 11205, the company claims to have begun operations in 1996 but shows an incorporation date of 2004. It is unclear if the company operated under a different name prior to 2004, or if it operated without incorporating it before that time. David Ilowitz is listed as the CEO of Fidelity Payment Services.
Fidelity Payment Services Review Table of Contents
- Costs & Contract: Fidelity Payment Services offers variable contract terms through several different processors. The company also offers its own payment gateway as well as reselling the services of Authorize.Net, USAePay, eProcessing Network, and others.
- Complaints & Service: Fidelity Payment Services has received fewer than 10 public complaints.
- BBB Rating: Fidelity Payment Services has an “A+” rating and has received 4 complaints and 47 reviews in the past 3 years. The company has been accredited by the Better Business Bureau since 2009.
- Sales & Marketing: Fidelity Payment Services appears to hire independent sales representatives but has not received any complaints related to its sales team.
- Rates & Fees: How Merchants Got The Best Rates With Fidelity Payment Services
Types of Businesses Served
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Fidelity Payment Services Rates, Fees, and Costs
|Swiped Rate||1.00% - 4.99%|
|Keyed-in Rate||1.00% - 4.99%|
|Monthly Minimum Fee||Undisclosed|
|Virtual Terminal Rate||Up to 2.90% + $0.30|
|Payment Gateway Fee||Up to $25 Per Month|
|Batch Fee||Up to $0.10|
|Early Termination Fee||$200 - $500|
|PCI Compliance Fee||Up To $19.95 Per Month|
|Equipment Lease Terms||48 Month (locked)|
An agent of Fidelity Payment Services informed us that pricing and contract terms will vary according to the merchant’s processing requirements and the processor that is paired with the merchant. However, the agent suggested that most small businesses will be subject to industry-standard contracts which usually run for 2-3 years with early cancellation penalties ranging from $200-$500. For this reason, merchants are advised to carefully read and understand the terms of their contracts before signing through Fidelity Payment Services.
The Fidelity Payment Services Program Guide.outlines a 3-year term through First Data with an early termination fee of $495 and an undisclosed monthly minimum fee. As of this review, it is unclear if Fidelity charges annual or monthly PCI Compliance Fees or if these fees vary depending on which processor Fidelity assigns to the merchant.
A standard First Data agreement is typically a multiyear contract with an early termination fee of $495, a monthly PCI compliance fee of $19.95, and tiered pricing. Merchants who process up to $50,000 each month will receive a swiped rate of 2.69% plus $0.19 and a keyed-in rate of 3.69% plus $0.19. Merchants whose monthly charges exceed $50,000 will receive a swiped rate of 2.29% plus $0.19 and a keyed-in rate of 3.29% plus $0.19. Another facet of these contracts are non-cancellable, long term equipment leases through First Data Global Leasing.
Fidelity Payment Services does have the freedom to alter these terms depending on a merchant’s size, business type, and processing history as a reseller of First Data’s. However, with a lack of readily available information on the company’s rate and fee structure, merchants considering its services should refer to First Data’s as a point of reference.
Virtual Terminal and Payment Gateway Pricing
In addition to its storefront payment processing services, Fidelity Payment Services also dedicates a portion of its website that advertises its virtual terminal and payment gateway services. The company lists multiple partnerships with gateway providers such as Authorize.Net, USAePay, eProcessing Network, Charge Anywhere, and the Payeezy First Data Global Gateway in addition to the company’s proprietary service FideliPay.
Though FideliPay’s pricing is not disclosed, the company resells the services of Authorize.Net, whose pricing is readily available. Merchants using Authorize.net’s payment gateway will be charged a 2.9% plus $0.30 per-transaction fee, a $25 monthly gateway fee, and a daily batch fee of $0.10.
It should be noted that as a reseller of Authorize.Net and other payment gateway services, Fidelity Payment Services may alter the terms and conditions of those rates and fees.
In general, there are not any Fidelity Payment Services complaints that mention excessive fees or damaging policies despite the fact that the company’s contract terms are roughly average for the industry. Merchants are still encouraged to compare Fidelity’s pricing to the cheapest merchant account providers. If you have any information regarding Fidelity’s rates and fees, please leave it in the comment section below.
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Fidelity Payment Services Complaints & Customer Reviews
|Total Online Complaints||<10|
|Live Customer Support||Yes|
|Most Common Complaint||N/A|
Low Complaint Total
As of this review, we are able to locate only a few negative Fidelity Payment Services reviews, 3 of which were filed in the comment section of this review. One complainant cited difficulty canceling the service and undisclosed fees, but later added updates indicating that the company provided a satisfactory resolution to the issue. Since Fidelity acts as a reseller in many cases, it is possible that some reviews get filed under the names of its backend processors, but there is no mention of Fidelity in any complaints filed against other processors at this time. In fact, most of the public reviews filed about Fidelity are positive testimonials.
Fidelity Payment Services Lawsuits
We have not found any outstanding class-action lawsuits or FTC complaints filed against Fidelity Payment Services. Dissatisfied merchants who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations.
Fidelity Payment Services Customer Support Options
The company appears to handle the customer service of its accounts directly, which may be a major contributing factor to its low complaint total. Fidelity’s support team appears to function at a level that is comparable to even the top payment processors for great customer service.
Fidelity Payment Services BBB Rating Summary
Key Points - BBB
|Product & Service Complaints||2|
|Billing & Collection Complaints||1|
|Advertising & Sales Complaints||1|
|Guarantee & Warranty Complaints||0|
Under 10 Complaints
As of this review, Fidelity Payment Services is accredited with the Better Business Bureau and holds an “A+” rating with 4 complaints filed in the last 36 months. 1 complaint was filed due to billing or collection disputes, 2 were related to problems with the product or service, and 1 had to do with an advertising issue. All 4 complaints were answered but did not receive a final response from the merchant.
What Merchants Say
In addition to the 4 complaints filed on Fidelity Payment Services’ BBB profile, the company has also received 47 informal reviews. All 47 of these reviews are positive, being awarded 5 out of 5 in each rating. However, it should be noted that informal reviews are not subject to verification by the BBB like complaints are. The most recent review is the only negative one against the company. It was left by a merchant who expresses their disapproval of the company’s customer service:
They are thieves, I had been with them for years, the credit cards stopped processing and directed me thru hoops at a critical time. instead of helping me they sent me into multiple different directions. Because of this incident of poor customer support that was their fault to begin with; we reviewed all the accounts and saw that they were not sending all the credit card transactions. we then switched to another provider. after such time they kept drawing money from my account, and no matter how much we kept trying to stop it, they kept drawing money directly from my account. They kept saying they will reimburse us. They never did… this will unfortunately end up in the courtroom.
Merchants who choose providers with a track record of great customer service can avoid situations like these.
An “A” Performance
In light of Fidelity’s complaint volume and resolution ratio, we agree with the BBB‘s rating. However, it should be noted that there are good reasons to view the BBB’s information with skepticism.
Truth In Marketing & Advertising
|Employs Independent Resellers||Yes|
|Advertises Deceptive Rates||No|
|Discloses All Important Terms||No|
Inside and Outside Sales Staff
Fidelity appears to hire fully employed inside sales agents and independent outside sales agents (ISAs). The hiring of ISAs would usually lower a company’s rating in this section, but it does not appear to have resulted in any negative Fidelity Payment Services reviews like it often does for most other companies.
No Deceptive Advertising
Additionally, Fidelity does not appear to use any deceptive marketing or sales tactics that were apparent to this reviewer. We have therefore assigned the company an “A” rating in this section, but if you suspect that Fidelity’s sales team has added undisclosed fees to your account, we recommend seeking a third-party statement audit.
Fidelity Payment Services Marketing Example
About Phillip Parker
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.