Global Payment Source Reviews & Complaints
Note: As of 2022, the Global Payment Source website is down. However, there is at least one merchant review dating from the second half of 2022. It is currently unclear what this means for the status of the company. If you have any information, please let us know below.
Company Overview
Launched in 2018, Global Payment Source is a merchant account provider that provides credit and debit card processing services to small businesses within the United States. The company is a DBA of Merchant Industry, which also appears to do business under the name National E-Payment, Inc. and is a reseller of Clover. In May 2017, Merchant Industry launched a DBA called “Swipe4Free” that exclusively promotes a cash discount pricing program. Global Payment Source itself offers a zero-fee processing program.
Global Payment Source Point of Sale
Global Payment Source offers a wide variety of in-person and point-of-sale equipment options. These include Verifone, Dejavoo, Ingenico, and PAX card swipers and the Clover family of POS and mobile terminal solutions.
Comprehensive Credit Card Processing Services from Global Payment Source
Global Payment Source provides robust credit card processing services for businesses of all sizes. It ensures swift and safe transactions regardless of whether they are in-person, online, or via mobile platforms.
Mobile Payment Solutions at Global Payment Source
Recognizing the rising demand for mobile payment solutions, Global Payment Source provides reliable and speedy mobile payment services. This is ideal for businesses that operate on-the-go or away from traditional storefront settings.
E-commerce Payment Gateway by Global Payment Source
For businesses that operate online, Global Payment Source has developed an e-commerce payment gateway. This service supports a wide range of online payment methods, securely processes transactions, and ensures a smooth checkout experience for customers.
Security Assurance with Global Payment Source
Global Payment Source places high importance on transaction security. The company utilizes advanced encryption technologies and fraud detection systems to ensure all transactions are secure. It adheres to Payment Card Industry Data Security Standard (PCI DSS) to protect sensitive customer data.
Customer Support at Global Payment Source
Customer support is a priority for Global Payment Source. The company provides 24/7 support for their clients to ensure any issues or concerns related to their payment processing services are resolved promptly and efficiently.
Location & Ownership
Global Payment Source is a registered ISO/MSP of Esquire Bank N.A., Jericho, New York, and Wells Fargo Bank, N.A. of Concord, California. Its corporate offices are located at 36-36 33rd St., Suite 206, Long Island City, New York, 11106, which is also the headquarters of Merchant Industry. Leo Vartanov is the founder and CEO of Merchant Industry, while the BBB lists Paul Kanevsky as the CEO of GPS.
Pros: | Cons: |
---|---|
Comprehensive services. | High complaint volume. |
Interchange-plus option. | No pricing disclosure. |
International support. | High early termination fee. |
Complex sales approach. | |
Expensive for low-volume. |
Global Payment Source Customer Reviews
Here's What Their Clients Say
Total Online Complaints | 10+ |
---|---|
Live Customer Support | Yes |
Most Common Complaint | Sales Tactics |
Recent Lawsuits | No |
Moderate Complaint Volume
We have identified more than 10 negative reviews of Global Payment Source, with some customers alleging deceptive practices or fraudulent behavior. Common grievances include concerns about deceptive sales tactics, excessive billing, challenges in canceling services, subpar customer support, and unexpected hidden fees. Many complaints also highlight confusion surrounding the company’s cash discount pricing plan, with clients expressing dissatisfaction over discrepancies between their expectations and the actual billing process. While Global Payment Source has responded to some complaints, the efficacy of these responses varies. We invite individuals to share their own experiences with Global Payment Source below.
Legal Matters and Regulatory Oversight
At present, there are no outstanding Global Payment Source lawsuits or FTC complaints. Clients seeking recourse outside of litigation are encouraged to report their concerns to relevant supervisory organizations.
Customer Support Offered by Global Payment Source
Global Payment Source provides general phone, email, and live chat support options for all merchants.
Global Payment Source Customer Service Number
- (888) 885-4375 – Toll-Free General Customer Service
Other Support Options
- Live chat
- Customer support form
- Customer service via email at [email protected]
While Global Payment Source offers multiple avenues for customer support, it’s important to note that its service may not meet the standards set by the best merchant accounts renowned for exceptional customer support.
Global Payment Source Online Ratings
Here's How They Rate Online
BBB Rating | N/A |
---|---|
Average Rating | N/A |
BBB Rating Analysis
Global Payment Source, listed on the Better Business Bureau (BBB) website, currently does not have any customer reviews or complaints. The business is not BBB accredited. This absence of reviews and complaints makes it challenging to determine common themes or customer sentiments about the company’s services.
Negative Feedback
There are no negative reviews published about Global Payment Source on the BBB website.
Positive Feedback
There are no positive reviews published about Global Payment Source on the BBB website.
Source: BBB
Global Payment Source Fees, Rates & Costs
A Closer Look at The Contract
Processing Rates | Variable |
---|---|
Monthly & Annual Fees | Yes |
Cancellation Penalties | Yes |
Equipment Leasing | Yes |
Three-Year Contract
As a DBA of Merchant Industry, it is probable that the standard Global Payment Source contract aligns closely with Merchant Industry’s terms. Merchant Industry’s contract spans three years through First Data (now Fiserv), featuring a swiped rate of 2.69% plus $0.19 and a keyed-in rate of 3.69% plus $0.19. Other terms include an early termination fee of $395 or liquidated damages, a PCI Compliance fee of $79.99 annually, PCI non-compliance fees of $19.95 monthly, an annual fee of $99.95, a $9.95 statement fee, and a monthly minimum fee of $25. Business owners are encouraged to explore our list of the best merchant accounts.
Global Payment Source Pricing
A significant distinction between Global Payment Source and Merchant Industry is Global Payment Source’s prominently advertised “No Fee” cash discount program, which imposes a 4% surcharge on all customer transactions. Global Payment Source claims exemption from various fees common in the industry, although there have been complaints mentioning a $700 early termination fee, higher than Merchant Industry’s $395 fee.
Virtual Terminal and Payment Gateway Pricing
Apart from its storefront payment services, Global Payment Source also offers virtual terminal and payment gateway services, but pricing remains undisclosed. Typically, additional rates and fees, including gateway fees, technical support fees, batch fees, and extra transaction rates, apply to e-commerce services.
Global Payment Source Lease Terms
Global Payment Source provides four-year, non-cancellable equipment leases via First Data Global Leasing. While specific lease pricing isn’t outlined on Global Payment Source’s site, Merchant Industry’s monthly lease charges can reach up to $113. Non-cancellable, long-term leases can result in substantial costs for equipment that could be outright purchased for less.
Contract and Pricing Complaints
There are numerous complaints against Global Payment Source regarding undisclosed costs, especially early termination fees and per-transaction fees. These charges seem to be enforced even if they were ambiguously presented by sales agents. Although these expenses surpass those of budget-friendly merchant accounts, improved disclosure could enhance the company’s reputation in this aspect.
Global Payment Source Employee Reviews & Sales Tacitcs
Should You Work For Them?
Uses Independent Resellers | Yes |
---|---|
Telemarketing | Likely |
Misleading Marketing | Yes |
Discloses All Important Terms | No |
Outside Sales Team
Global Payment Source appears to rely on numerous sub-ISOs and independent sales agents to market its services. There is evidence that the company operates under multiple business names, which may make it difficult for potential clients to determine which entity they are working with. We are currently able to locate multiple negative Global Payment Source reviews that describe nondisclosure and misrepresentation by the company’s sales agents, higher fees than were agreed to upon signup, and failure by the company’s sales team to deliver on promises made at the point of signing. This does not compare favorably to our list of best credit card processors.
Global Payment Source Fee Comparisons
The Global Payment Source website lists many types of fees common to the industry and claims that, while it is common for merchant services providers to charge all of these fees, Global Payment Source does not charge them. The company does not mention several other large, common fees that it does charge, such as PCI compliance fees and early termination fees. This is consistent with advertising seen on Merchant Industry’s website, and Global Payment Source rates may also use the same incomplete rate quotes that Merchant Industry uses.
A “D” Rating
Overall, it is our opinion that the company’s sales approach is no better than Merchant Industry’s sales approach, and there are multiple Global Payment Source reviews supporting this interpretation. If you believe that Global Payment Source is overcharging you, we recommend seeking a third-party statement audit to eliminate hidden fees.
Our Global Payment Source Review Summary
Our Final Thoughts
Global Payment Source rates as a substandard credit card processing provider according to all available information. Business owners report a consistent pattern of deceptive practices from the company’s sales agents, and the company’s contract terms do not appear to differ from Merchant Industry’s in any meaningful way. These issues have resulted in the company receiving a moderate-to-high complaint rate for its size and short time in business, and the company’s public responses to these complaints have not demonstrated any serious commitment to customer service. For now, businesses can expect to be better served by a top-rated merchant account provider.
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Brian Austin
Brian Austin
Fish Tails & Story Trails
419 Durham Road East
Walkerton ONT
N0G 2V0 519-507-7026
Global Payments February 16, 2023
The money grab of $346.62 without any communication, attempted on February 1, would probably have been possible for me if I had received advanced notice. I almost always manage, even though it means scrambling between multiple accounts. Just grabbing that money, or attempting to do so, was totally unethical. Locking down my account because the Grab didn’t work – but still never communicating – added to the lack of ethics. The $45.00 NSF Fee the first attempted Grab cost me is a fee totally the responsibility of Global Payments.
It is apparent that Global Payments has the power to do this. It also appears that I foolishly granted that power. Still, it seems appropriate to expect communication and expect ethical business practices.
With deposits from February 9 & 10 still waiting, and with many of the deposits from the days following not matching the daily summary so extremely difficult to account for, I have been unable to deal with bills I was prepared to pay. I’ve made multiple calls to Global Payments, each time spending upwards of an hour on the phone, each time hearing all the “right” language, but still not seeing the issues resolved.
I’m quite sure your intent has NOT been to make me despise the name of Global Payments – BUT – that has increasingly been the results. ANY company that assumes it has the right to take control of my bank accounts but doesn’t even show the courtesy of communicating with me – IS NOT A COMPANY I’M WILLING TO DEAL WITH! It’s that simple.
It’s a small amount of money, but I am struggling as a Small Business just to survive. Global Payments – supposedly – is there to help me, not to force me out of business.
Deposits showing on “Detail Reports” that have still not found their way into my Bank account are as follows:
Detail Report for February 9, 2023 TID A7951878 Batch # 528
4 Debit Card Transactions
Deposit of 20.95 Visa
Deposit of 264.21 Debit card
Detail Report for February 10, 2023
2 Debit Card Transactions
Deposit of 181.39
Global Payments 1-800-263-2970 Choose Questions, Customer Service
Barry Berger
Bank owes me $15,000. 5 customer service people agree. No one can issue refund. Still waiting.