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Is First Financial Merchant Services Worth It for Your Business?

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Maintained Since: October 23, 2013

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All mentions of rate and fee costs are estimations based on publicly available information and client feedback. Actual costs may vary based on a variety of factors unique to your business.

First Financial Merchant Services
Rating
C
3.5/5
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Pros

Diverse Solutions
Quick Approval
No Contract

Cons

Mixed Reviews
Fee Structure
Employee Turnover
Sales Practices
Limited Transparency

Overview

In this First Financial Merchant Services review, we’ll cover what the company offers and how it operates, including the types of payments it supports such as online and mobile options, along with the features of its point-of-sale (POS) systems. We’ll discuss how its marketing strategy has shifted toward partnering with associations and organizations, and weigh the pros and cons by looking at rates, fees, contract terms, and customer feedback. We’ll also review industry ratings, employee perspectives, and common complaints, while examining any legal issues that may have affected the company’s reputation. By the end, you’ll have the insights you need to determine whether First Financial Merchant Services is the right fit for your business.

About First Financial Merchant Services

Screen Capture of First Financial Merchant Services Homepage
First Financial Merchant Services Homepage

First Financial Merchant Services is a merchant account provider based in Medina, Minnesota. Founded in 1995, the company appears to be a reseller of First Data (now Fiserv) merchant services. In recent years, First Financial appears to have shifted its marketing approach so that it targets associations, organizations, and influencers rather than selling directly to merchants.

In 2022, First Financial Merchant Services released a statement that there was a data breach “resulting in the names, credit, and debit card numbers of certain consumers being compromised.” Despite extensive research, we have been unable to determine whether this is the same First Financial Merchant Services or if it is the “merchant services” branch of First Financial Bank.

Products & Merchant Services

Payment Processing

First Financial Merchant Services handles payment processing for all major debit and credit cards across various business types. Their services include EMV card readers and swipers, POS systems, and mobile payment solutions.

Online Payment Processing

First Financial Merchant Services offers online payment processing, enabling businesses to accept payments via the internet. This service is for businesses transitioning to digital operations to secure and efficient handling of online transactions.

Mobile Payment Solutions

First Financial Merchant Services provides mobile payment solutions. These allow businesses to process payments through mobile devices, catering to on-the-go operations and modern consumer preferences.

Point of Sale Systems

The POS systems from First Financial Merchant Services offer more than just payment processing. They assist businesses in managing operations, including inventory management, sales tracking, and providing business analytics.

Gift Card and Loyalty Programs

To support customer retention and build brand loyalty, First Financial Merchant Services offers custom gift card and loyalty programs.

Security and Compliance Measures

First Financial Merchant Services prioritizes transaction security. Their systems comply with the Payment Card Industry Data Security Standard (PCI DSS), ensuring the security of customer data. They also implement fraud prevention measures to assist in transaction safety.

Customer Reviews & Sentiment

Moderate Complaint Volume

First Financial Merchant Services has garnered over 30 negative reviews on various consumer protection websites, portraying numerous accusations of being involved in scams or ripoff schemes. A significant portion of these complaints originates from existing, former, and potential sales employees, highlighting issues like deceptive residual guarantees, insufficient employee support, elevated turnover rates, and non-payment to contracted staff. It is imperative to acknowledge that discontented or undercompensated sales agents may inadvertently compromise service standards and resort to deceptive practices towards clients. If you have had a personal experience or review regarding First Financial Merchant Services, we encourage you to share it below.

Customer Support Channels

Several grievances from merchants regarding First Financial Merchant Services revolve around undisclosed fees, unexpected fee hikes, and challenges in service cancellation. While the company provides a dedicated phone line and contact form for customer support, it remains uncertain whether this line is managed by First Financial or First Data (Fiserv).

Industry Scores & User Ratings

Online Ratings Summary
PaymentPop5
BBB Rating1
Google Maps2.8
Average Rating1.9

PaymentPop Rating for First Financial Merchant Services

Negative Feedback

There are no negative reviews published about First Financial Merchant Services on the PaymentPop website.

Positive Feedback

We’ve worked with a few processors over the years, but First Financial Merchant Services has been the best. The onboarding was smooth, their team explained everything clearly, and we’ve had zero issues since switching. Plus, our processing fees dropped right away. It’s been a solid upgrade.

First Financial BBB Rating

First Financial Merchant Services is currently accredited with the Better Business Bureau and is showing an “A+” rating based on 0 merchant complaints in the last 36 months. First Financial has a 1 out of 5 star rating based on 2 user reviews on the Better Business Bureau website.

What Merchants Say

First Financial Merchant Services has also received 3 informal reviews against its BBB profile, all of which are negative in tone. The most recent review cites unexpected fees and poor customer service:

My story is the same as the post 4/18/21. They are rude as hell!!! I too was on hold for 20 minutes before getting connected. The kept charging me long after I canceled my contract! The lady was one of the rudest Ive ever talked to in customer service. She must be married to the owner?

It appears that this client may have better luck working with a top-rated e-commerce platform.

An “A” Performance Overall

In light of First Financial’s complaint total, we agree with the BBB’s rating.

Google Maps Rating for First Financial Merchant Services

First Financial Merchant Services has a 2.8 out of 5 star rating based on 11 user reviews on Google Maps.

Positive Feedback

Great company. The support staff really knows their stuff and is very helpful and professional.

Negative Feedback

If I could give them zero stars I would but that’s not an option. They have stolen thousands of dollars from my family business and no one seems to have any reasonable answer about anything. SO if you would like to pay hundreds of dollars a month for nothing just to line their personal pockets….then First Financial Merchant Services is for you.

Processing Rates & Fees

Potentially Variable Terms

According to multiple client complaints, the standard First Financial Merchant Services contract is a three-year agreement through First Data (Fiserv) with an early termination fee of up to $695, an annual fee of $89, a PCI Compliance fee that exceeds $100, various monthly fees, and a costly tiered pricing structure. Given the credit card processor’s use of independent sales agents, it is likely that these contract terms may vary somewhat from business to business but likely resemble First Data (Fiserv) rates.

Under a typical First Data (Fiserv) contract, businesses that 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. Businesses 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. However, as a reseller of First Data (Fiserv), First Financial does reserve the right to alter the terms and conditions of these agreements.

Avoid Equipment Leases

We have not located any reports of costly equipment leases through First Financial, but the company’s apparent affiliation with First Data (Fiserv) indicates that it may resell equipment leases through First Data Global Leasing. First Data (Fiserv) leases can be long-term, non-cancellable, expensive agreements. Although we do not have access to the actual First Financial Merchant Services contract at this time, the reported figures associated with the company’s services are more or less in line with industry averages. First Financial’s reported contract terms are not competitive with the cheapest merchant accounts available. We are therefore awarding the company an average grade of “C” for this category.

We also encourage business owners to check out our list of the providers of the best merchant accounts.

Lawsuits & Legal History

In 2016, First Financial Merchant Services was embroiled in a lawsuit involving a TCPA violation; however, the case’s resolution remains ambiguous. Clients exploring non-litigious avenues to address concerns with the company are advised to report any issues to the relevant regulatory authorities.

Employee Reviews & Sales Practices

Independent Sales Agents

First Financial appears to employ a sales team composed mostly of outside sales agents, many of whom are independent contractors. This hiring practice is generally linked to high complaint volumes within the credit card processing industry, as independent sales agents do not usually receive the training and oversight that full employees do. In this case, we have located over 20 First Financial Merchant Services reviews that accuse the company of deceptive marketing, but the complainants in these cases are largely former or prospective employees of the company.

This does not compare favorably to our list of best credit card processors.

Employee Complaints

Negative First Financial Merchant Services reviews from employees consistently report exaggerated claims of potential wealth, aggressive recruiting campaigns, and failure to pay residuals. Although these reviews describe difficulties that merchants may not experience directly, it is possible that a dissatisfied sales team at a company might not provide the best service to its merchants. Business owners are encouraged to take this “hiring mill” practice into account when interacting with an independent sales agent.

Seek An Independent Audit

First Financial’s recent decision to market to organizations rather than businesses may help isolate business owners from any poor sales practices. This remains to be seen, but we will continue monitoring merchant feedback under the company’s new approach. If you suspect that First Financial is charging you undisclosed fees, we recommend seeking a third-party statement audit to find and eliminate hidden charges.

First Financial Merchant Services Competitors

Compare First Financial Merchant Services to competitors that earned top marks.

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Bottom Line

First Financial Merchant Services, headquartered in Medina, Minnesota and established in 1995, operates as a reseller of First Data (now Fiserv) merchant services, tailoring its offerings primarily to associations, organizations, and influencers. In recent developments, the company announced a data breach in 2022, compromising consumer data, although it remains unclear whether this incident involves the merchant services division or another branch of First Financial. They provide a comprehensive suite of payment solutions including EMV card readers, online and mobile payment processing, and innovative POS systems designed to enhance operational efficiency through integrated sales tracking and inventory management. Additionally, they offer custom gift card and loyalty programs aimed at boosting customer retention and engagement.

Despite its robust service offerings, First Financial faces criticisms concerning its marketing and sales tactics, particularly around the use of independent sales agents which has led to a high volume of complaints related to deceptive practices and inadequate disclosure of contract terms. Over 30 customer complaints highlight issues such as undisclosed fees and problematic cancellation processes, although the company maintains an “A+” rating from the BBB with few direct merchant complaints. First Financial promises competitive rates and flexible contract terms without long-term commitments, yet details from customer feedback suggest potential discrepancies in advertised terms and actual practices. This mixed feedback underscores the importance for prospective clients to conduct thorough research and consider third-party reviews to navigate the complexities of merchant services agreements effectively.

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Contact First Financial Merchant Services

Contact & Customer Support
CEOJohn Eliason
Headquarters829 Meander Ct., Medina MN 55340
Toll-Free Customer Support(888) 416-4720
Local Office(763) 231-8120
Fax(763) 231-8129
Websiteffusa.com