First Financial Merchant Services Reviews & Complaints

Name: First Financial Merchant Services
Item: First Financial Merchant Services
Rating: 3.5
Author: Phillip Parker

By Phillip Parker

April 10, 2024

▼ 2 User Reviews

3.5

How did they treat you? ▼

Overview

In the below article, we take a closer look at First Financial Merchant Services, providing an insightful analysis of their offerings and operations. We'll explore their capabilities in processing various payment methods, including advanced features like online and mobile payment solutions, and the functionality of their Point of Sale (POS) systems. We 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 also touch on the company's shift in marketing strategies towards associations and organizations.

We 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 Payment Processing

First Financial Merchant Services processes all major debit and credit cards for most business types. Their services include EMV card readers and swipers, POS systems, and mobile solutions.

Online Payment Processing

Among the key offerings of First Financial Merchant Services is online payment processing. This essential service enables businesses to accept payments via the internet. As more businesses shift to the digital space, this feature allows for the safe and efficient handling of transactions online.

Mobile Payment Solutions

First Financial Merchant Services also acknowledges the importance of mobile commerce and offers mobile payment solutions. Businesses can now accept and process payments through mobile devices, providing a convenient solution for on-the-go operations and modern consumer preferences.

Point of Sale Systems

The Point of Sale (POS) systems offered by First Financial Merchant Services provide more than just payment processing. These comprehensive systems help businesses manage their operations more efficiently, including inventory management, sales tracking, and insightful reporting for business analytics.

Gift Card and Loyalty Programs

To aid businesses in customer retention and building brand loyalty, First Financial Merchant Services offers custom gift card and loyalty programs. These solutions are designed to incentivize repeat purchases and increase overall customer engagement.

Security and Compliance Measures

First Financial Merchant Services takes the security of transactions seriously. Their payment processing systems adhere to the Payment Card Industry Data Security Standard (PCI DSS) to ensure all customer data is secure. They also have robust fraud prevention measures in place, providing businesses with confidence in their transaction safety.

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.

Pros & Cons
Pros:	Cons:
Low rates: As low as $0.03 and 0.10% per transaction.	Chargeback issues: High-risk accounts may face challenges with chargebacks.
No extra fees: No setup, application, annual, or merchant account fees.	Niche product limitation: May not suit businesses with very specific or unique products.
No long-term contracts: Offers flexibility with no commitments or long-term contracts.	High-risk area sales: Challenges may arise for businesses predominantly selling to high-risk areas.
High approval rate: Approves 95% of applicants, including high-risk accounts.	Subscription payment risks: Potentially higher risks for businesses with subscription models.
Worldwide processing: Capable of handling transactions globally.	Credit score impact: Credit score might influence service availability or terms.
Secure processing: Ensures encrypted and secure transactions.	Limited to U.S. businesses: Must be a U.S.-registered business with a physical address and bank account in the U.S.

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.

Legal Issues and Penalties

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.

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).

Customer Service Contacts for First Financial Merchant Services:

Toll-Free Customer Support: (888) 416-4720
Local Office: (763) 231-8120
Fax: (763) 231-8129

Alternate Support Options:

Customer Support Form
Customer Service Email: [email protected]

Currently, First Financial Merchant Services does not meet the anticipated standards for leading payment processors known for exceptional customer service.

First Financial Merchant Services Online Ratings

Here's How They Rate Online

Online Ratings Summary
BBB Reports	3

No Complaints

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?

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.

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.

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.

Our First Financial Merchant Services Review Summary

Our Final Thoughts

First Financial Merchant Services rates as an average credit card processing provider according to our rating system. The company has a high number of complaints filed publicly by its current and former employees, indicating that it may utilize “hiring mill” tactics that may have repercussions for merchants. Additionally, the few confirmed details of the company’s contract indicate that it may charge slightly higher rates and fees than industry averages. It should be noted that the company also may do business under the names “First Financial USA” and “Ideal Payment Solutions.” Business owners should compare the company’s offerings to top overall providers to get the best deal.

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About The Author

Phillip Parker

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!

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Testimonials & Complaints

How Did First Financial Merchant Services Treat You?

2 User Reviews

Ryan

January 21, 2015

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

Reply to Ryan Post Your Own
- Phillip CPO
  
  January 21, 2015
  
  Hi Ryan, the article above summarizes everything we could find as of the last update of the First Financial Merchant Services review.
  
  Reply to Phillip CPO Post Your Own

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