Global 1 Wholesale Merchant Services, Inc. (global1wms.com) is a merchant account provider headquartered in Las Vegas, Nevada. Founded in 2006, Global 1 Wholesale Merchant Solutions is a registered ISO/MSP of Wells Fargo Bank, N.A., Walnut Creek, California, with headquarters located at 4340 S Valley View Blvd., Suite #224 Las Vegas, Nevada 89103. Ken Einiger is listed as the owner of Global 1 Wholesale Merchant Services.
- Sales & Marketing: Global 1 Wholesale Merchant Services appears to hire independent sales representatives and has received a few complaints about its sales practices.
- Costs & Contract: Global 1 Wholesale Merchant Services offers either a month-to-month or multi-year contract depending on whether a merchant accepts free equipment upon account activation.
- Complaints & Service: Global 1 Wholesale Merchant Services has received fewer than 10 public complaints.
- BBB Rating: Global 1 Wholesale Merchant Services currently has an “A+” rating with the Better Business Bureau and has received four complaints in the last three years.
- Rates & Fees: How Merchants Got The Best Rates With Global 1 Wholesale Merchant Services
Sales & Marketing
Key Points - Sales & Marketing
|Employs Independent Resellers||Yes|
|Advertises Deceptive Rates||No|
|Discloses All Important Terms||No|
Global 1 Wholesale appears to primarily market its services through traditional advertising and independent sales agents (described in the company’s job listings as “partners”). The use of independent sales agents is commonly linked to high complaint rates, as independent reps typically receive less oversight and training than in-house, fully employed agents. In this case, we have found only two Global 1 Wholesale negative reviews that describe deception or incompetence by the company’s sales agents. This total is lower than average for a company of its size.
The company’s homepage and other pages on its site previously quoted “rates as low as 1.15%” per transaction and “5¢ transactions.” These rates were most likely the company’s fees for Qualified or PIN debit transactions, but they did not include the Mid-Qualified and Non-Qualified rates that merchants will pay for the majority of transactions. The company has since revised this language to advertise rates “as low as 0.25%” and “3¢ transaction.” A company representative has stated in the comment section of this review that this is the company’s interchange-plus rate, which is extended to any merchant who owns his or her equipment. This rate quote is consistent with average interchange-plus rate quotes throughout the industry and therefore does not appear to be deceptive. We will assign the company an “A” rating in this category as a result.
Global 1 Wholesale Merchant Services Marketing Example
Costs & Contract
Key Points - Costs & Contract
|Early Termination Fee||Variable|
|PCI Compliance Fee||Variable|
|Equipment Lease Terms||Variable|
There is very little information available regarding the standard Global 1 Wholesale Merchant Services contract at this time. The company’s website promises no termination fees, no setup fees, and no contracts, but we have found two merchant complaints (here and here) claiming that the company signs merchants up for non-cancellable multiyear agreements. A company representative has stated in the comment section below that Global 1 offers two different sets of contract terms depending on whether a merchant receives free equipment from the company. Merchants who own their equipment are eligible for interchange-plus pricing with month-to-month contracts and no early termination fee. Merchants who receive a free terminal from Global 1 can expect a multiyear contract with tiered pricing of 1.65% (Qualified), 2.49% (Mid-Qualified), and 2.9% (Non-Qualified). This agreement also comes with an early termination fee of $495, and the company charges a $25 monthly minimum fee.
It is common within the industry for providers to require a multiyear contract in exchange for providing free equipment, so we will not penalize Global 1 too harshly for this stipulation. The fact that its standard agreement is interchange-plus with month-to-month renewal has also helped to raise its grade in this category. Overall, the low complaint rate regarding the company’s costs and terms is a solid indicator that the majority of Global 1 Wholesale merchants are satisfied with the service they receive. If you have any knowledge of the standard Global 1 Wholesale contract, please share that information in the comment section below this review.
Complaints & Service
Key Points - Complaints & Service
|Total Online Complaints||<10|
|Live Customer Support||Yes|
|Most Common Complaint||N/A|
We’ve found approximately five negative Global 1 Wholesale Merchant Services reviews on various consumer protection websites, and only one of these complaints describes the company as a scam. This is a low complaint volume for a company of its size, and there are also a few scattered positive testimonials to be found online. Common themes among complainants include difficulty cancelling service without paying a fee and nondisclosure of contract terms by Global 1 sales reps. Global 1 advertises 24/7 customer service and provides a phone number on its website for merchants to call, and it appears that this helps to resolve most complaints against the company in-house.
Key Points - BBB
|Product & Service Complaints||2|
|Billing & Collection Complaints||1|
|Advertising & Sales Complaints||1|
|Guarantee & Warranty Complaints||0|
Global 1 Wholesale currently maintains an “A+” rating with the Better Business Bureau and has been accredited since 2007. The company is showing four complaints in the past three years, with two due to product or service problems, one related to a billing or collection dispute, and one due to an advertising or sales issue. Global 1 resolved one of the complaints successfully while the remaining three either were resolved to the dissatisfaction of the merchant or did not receive a final evaluation from the complainant. In light of these figures, we agree with the BBB‘s rating.
About Phillip Parker
Hi, I’m Phillip and I’m disgusted by the state of credit card processing in the U.S. and abroad. I believe that the industry has been overrun by people who engage in fraud and deception in order to steal money from hard working business owners. I’ve made it my mission to expose the companies and individuals who engage in predatory marketing, pricing, and contracts, or just provide terrible service. Along with uncovering the bad guys, I’ve also discovered the good guys who do stand out from the status quo. CPO is a website where you will find ratings and reviews of these companies along with advice on how to save money and which service providers consider. Together we can move the industry in a positive direction. If you would like to help support my work, please checkout “Fee Sweep” my eGuide to getting the lowest possible fees when accepting card payments. If you haven’t heard of “interchange” this advice will save you hundreds, even thousands, in processing fees.Schedule a Consultation with Phillip
Related: Phillip’s Top All-Purpose Merchant Account Picks
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