In this review of First Financial Merchant Services, we'll take a closer look at their offerings and operations. We'll cover their capabilities in processing various payment methods, including features like online and mobile payment solutions, and the functionality of their Point of Sale (POS) systems. We will then assess the company’s gift card and loyalty programs, designed to enhance customer engagement.
Security is a key focus as we examine First Financial's compliance with PCI DSS standards and their fraud prevention measures. We'll also touch on the company's shift in marketing strategies towards associations and organizations.
We'll evaluate the pros and cons of their services, considering aspects such as rates, fees, contract terms, and customer feedback. This includes an analysis of industry ratings, employee reviews, common complaints, and the implications of legal challenges the company has faced.
Our aim is to provide a balanced view, helping readers understand what First Financial Merchant Services offers and how it stands in the market, equipping them with the necessary information to make informed choices regarding their merchant service needs.
About First Financial Merchant Services
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.
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.
First Financial Merchant Services Customer Reviews
Here's What Their Clients Say
Customer Reviews Summary
Total Online Complaints
30+
Live Customer Support
Yes
Most Common Complaint
Hiring Practices
Recent Lawsuits
Yes
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.
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).
Customer Service Contacts for First Financial Merchant Services:
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.
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?
First Financial Merchant Services Fees, Rates & Costs
A Closer Look at The Contract
Cost & Fees Summary
Cancellation Penalties
Yes
Monthly & Annual Fees
Yes
Processing Rates
Variable
Equipment Leasing
Yes
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.
First Financial Merchant Services Employee Reviews & Sales Tacitcs
Should You Work For Them?
Jobs & Marketing Summary
Uses Independent Resellers
Yes
Telemarketing
Likely
Misleading Marketing
No
Discloses All Important Terms
No
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.
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.
Our First Financial Merchant Services Review Summary
Our Final Thoughts
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.
Location & Ownership
First Financial Merchant Services is a registered ISO/MSP of Wells Fargo Bank, N.A., Concord, California, and is headquartered at 829 Meander Ct., Medina MN 55340. John Eliason is listed as the founder and CEO of First Financial Merchant Services.
If you found this article helpful, please share it!
In the late 2000s, as a broke college student struggling to make ends meet, I was contacted by a merchant services company after uploading my resume to a job listings website. This company promised substantial commissions and ongoing residual income for simply persuading businesses to accept credit card payments. It seemed straightforward enough—after all, what business doesn’t need to process credit card payments? Following a phone interview with a persuasive “sales director,” I found myself embarking on what I believed would be an easy job that would significantly boost my bank account with reliable monthly income and large sales commissions. However, the lessons I learned would profoundly change my life in ways I could never have imagined.
After completing my sales training, I hit the ground running, eager to make sales. This broke college student was determined to improve his financial situation! My first attempt at a cold call, with no prior appointment, ended with a burly man in his 50s yelling at me to leave, claiming he had been “totally robbed” by someone like me before. As I hastily exited, puzzled and intimidated by his reaction, I couldn’t help but wonder what he meant. Throughout the day, I encountered similar hostility from other business owners, all expressing disdain for the industry I had been so excited to join that morning. Confused and curious, I decided to shift my approach from selling to listening.
I quickly uncovered that the merchant services sector was riddled with unethical practices, including hidden fees, deceptive marketing, fine-print traps, and much more. It dawned on me that I had nearly been tricked by a dubious company into selling overpriced services under contracts with long-term commitments, all without being fully aware of what I was promoting. Outraged, I resigned from that company but learned that there were indeed ethical credit card processing companies that treated their clients fairly. Over the next four years, I worked for one such company, assisting hundreds of businesses in securing cost-effective processing solutions. Yet, I also met many more who had been misled and trapped in onerous service agreements. Determined to help people steer clear of these unscrupulous providers, I launched this website in my spare time, dedicating myself to researching and sharing my findings on every merchant account provider I could investigate.
Gradually, more and more business owners began to discover my articles. As word spread, search engines started to rank my content highly, amplifying its reach. My efforts were making a difference! Eventually, the website garnered enough traffic to enable me to leave my job and focus on it full-time, a journey that has now spanned over a decade. This path has not been without its challenges; unscrupulous company owners have tried to intimidate and sue me into silence on several occasions. Yet, I have stood firm against each threat. Here I am, continuing to publish reviews and articles, hoping to safeguard others from the pitfalls of the credit card processing industry.
If you believe in my mission and wish to contribute, please share my articles on your websites and social media. Thank you for visiting!
Testimonials & Complaints
How Did First Financial Merchant Services Treat You?
2 User Reviews
Ryan
Hello I am interviewing with FFMS as a sales director and wanted to find out what you thought of the company as a whole and if you recommend working for them?
Thank you
Phillip CPO
Hi Ryan, the article above summarizes everything we could find as of the last update of the First Financial Merchant Services review.
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Ryan
Hello I am interviewing with FFMS as a sales director and wanted to find out what you thought of the company as a whole and if you recommend working for them?
Thank you
Phillip CPO
Hi Ryan, the article above summarizes everything we could find as of the last update of the First Financial Merchant Services review.