First American Payment Systems (first-american.net) is a merchant account provider based in Fort Worth, Texas, that claims to have been in business since 1990. First American Payment Systems also operates under several other business names and trademarks including FirstAdvantage, FirstFund ACH, Merimac Capital, Secur-Chex, FirstView, and FirstPay.net. It is suggested in numerous merchant reports that the company is under the same ownership as, or operates, the following merchant services companies: Appstar Financial, Eliot Management Group, Trans Tech Merchant Group, Summit Merchant Solutions, Apex Merchant Group, Trinity Merchant Group, Heritage Payment Solutions, GoEmerchant, Certified Payment Processing, iATS Payments, Govolution, and Velocity Payment System. A company representative has stated that First American Payment Systems does not operate Appstar Financial, Trinity Merchant Group, or Heritage Payment Solutions.
First American Payment Systems is a registered ISO/MSP of Fifth Third Bank, Wells Fargo Bank, N.A, and MetaBank. First American Payment Systems was acquired in July 2014 by an investment group led by the Ontario Teachers’ Pension Plan. In January 2016, First American purchased the entire portfolio of independent sales organization accounts and associated contracts from Chase Commerce Solutions, the payment processing arm of JPMorgan Chase. The founder and CEO of First American Payment Systems is Neil Randel. It is unclear whether Neil Randel is related to Nathan Randel, the principal for Trinity Merchant Group, but it seems likely given the two companies’ geographic proximity.
- Sales & Marketing: First American Payment Systems hires independent sales agents and has received a moderate number of complaints about its sales practices.
- Costs & Contract: First American Payment Systems offers a three-year contract with an early termination fee of up to $495.
- Complaints & Service: First American Payment Systems has received more than 200 public complaints.
- BBB Rating: First American Payment Systems has an “A+” rating with the Better Business Bureau and has received 73 complaints in the past three years.
- Rates & Fees: How Merchants Got The Best Rates With First American Payment Systems