Global Payments 2023: Card Processing Reviews & Complaints
Global Payments Inc. is one of the largest credit card processors in the merchant account industry and has been in business since the 1960s. The company has partnerships in more than 30 countries worldwide. It’s also one of the few merchant account providers to be publicly traded on the New York Stock Exchange (NYSE: GPN) as part of the S&P 500. Global Payments supplies nearly every service a merchant would need, from setting up the merchant account to supplying the processing hardware. Through its OpenEdge division, the company also provides integrated merchant account software.
Acquisitions and Partnerships
In December 2015, the company announced its acquisition of Heartland Payment Systems, another very large credit card processor based in the U.S. The acquisition came a year after Heartland Payment Systems filed a lawsuit against Mercury Payments, an ISO of Global Payments, alleging that the company has committed false advertising and other tactics to damage Heartland’s reputation as a competitor. 2020 saw Global sign a major deal with Wells Fargo to “continue to provide a range of processing and support services for the bank’s commercial card portfolio.” In 2021, Global Payments announced a partnership with Google, which is likely to make major waves in the processing industry. Global also made a major acquisition in 2021, acquiring property management experience company Zego for $925 million. 2022 saw an even bigger acquisition, with Global purchasing EVO Payments for $4 billion.
Acquisition of TSYS
On May 28, 2019, Global Payments announced its acquisition of TSYS in a $21.5 billion all-stock deal. The acquisition had been speculated upon for some time in the months preceding its confirmation. TSYS is among the largest merchant service providers in the world, making Global Payment’s acquisition of the company a seminal moment for the industry. The announcement follows a flurry of acquisitions among competitors as Fiserv announced its acquisition of First Data (now Fiserv) in January for $22 billion as well as FIS’ acquisition of Worldpay for approximately $35 billion.
Before we dive in, here’s a short summary of what we’ll cover:
- Global Payments’ various payment processing services.
- The company receives a steady number of complaints, even for a company of its size.
- Global Payment’s contract terms are worse than the industry average.
- Global has been named in a large number of concerning lawsuits.
Global Payments Payment Processing
Global Payments processes all major debit and credit cards for most business types. Their services include mobile solutions, POS systems, access to virtual terminals and payment gateways, prepaid programs, gift and loyalty options, marketing and analytics, payroll and HR, and business loans.
The company offers issuer solutions that cater to both consumer and commercial needs. These solutions are designed to facilitate transactions between card issuers and merchants.
Global Payments provides specialized software tailored for various industries such as retail, restaurant, healthcare, financial services, education, and more. These software solutions aim to fit the specific business models and customer needs of these industries.
The company offers tools for business-to-business (B2B) transactions, including accounts payable and accounts receivable solutions. They also provide gift and loyalty programs, email marketing, and analytics.
Payroll and HR Solutions
Global Payments offers cloud-based payroll and HR tools for employers. They also provide solutions for employee payments, allowing for quick and digital payment methods.
Financial Institutions and Developers
The company caters to financial institutions and developers by offering configurable solutions that can be directly accessed or embedded into other products and platforms.
Location & Ownership
Global Payments Direct, Inc. is a registered ISO of Wells Fargo Bank, N.A., Concord, CA; and BMO Harris Bank N.A. The company’s headquarters are located at 3550 Lenox Road, Suite 3000. Atlanta, Georgia 30326. The company announced the departure of its former president and COO David Magnum in 2018. Cameron Bready is now CEO.
Table of Contents
Global Payments Customer Reviews
Here's What Their Clients Say
|Total Online Complaints||100+|
|Live Customer Support||Yes|
|Most Common Complaint||Poor Service|
Lower-Than-Expected Complaint Rate
There are a low-to-moderate number of negative Global Payments reviews for a processor of its size and time in business. The most common themes among these negative Global Payments reviews are reports of fund-holds and poor customer service, although hidden fees are also occasionally mentioned. There is no specific circumstance that appears to result in fund-holds, but holds often happen because of suspicious transactions or transactions that exceed a merchant’s processing limit. Since most of these Global Payments complaints appear to be unique incidents, they will not count heavily against the company’s rating in this section.
It is worth mentioning that over our past few updates, there has been a gradual increase in complaints posted in the comment section of this review. Most of these comments cite poor customer service or undisclosed fees, such as early termination fees. The uptick in complaints contrasts with Global Payments’ diminishing complaint rate found on other websites like Ripoff Report. While this trend is slightly troubling and supports our decision not to include Global Payments in the list of top-rated merchant account providers for great customer service, it still barely alters our grade for a large, established company like Global Payments. If you have your own Global Payments review to make, please do so in the comments below.
Global Payments Lawsuits and Fines
Since its acquisition of Heartland Payment Systems in 2015, multiple lawsuits have arisen involving Global Payments. Before the acquisition, Heartland sued Mercury Payments, an ISO of Global Payments, alleging false advertisements of rates and “other deceptive trade practices.” Following the acquisition of Heartland, its former CEO Robert O. Carr was charged with insider trading by the SEC for disclosing the impending merger to his then-girlfriend before it had become public knowledge. The revelation leading to those charges came from a suit that Heartland filed under Global Payments ownership against Carr for breach-of-contact. Carr then sued Global Payments to recoup legal fees from his SEC case before settling the matter by agreeing to pay a civil penalty of $250,628.
In March 2015, the Consumer Financial Protection Bureau (CFPB) filed a complaint against Global Payments, Electronic Merchant Services, Frontline Processing, and Pathfinder Payment Solutions in connection with a “phantom debt” scheme that allegedly attempted to collect nonexistent debts from consumers. The CFPB’s complaint alleges that these four payment processors facilitated transactions for multiple debt collection companies owned by Marcus Brown and Mohan Bagga. According to the complaint, these debt collection companies used robocalls to target millions of consumers, who they then threatened in order to obtain debt payments that were not actually owed or that didn’t even exist. The CFPB further alleges that Global Payments “ignored numerous red flags of the debt collectors’ illegal conduct, including consumer disputes that described the scheme and communication problems with the debt collectors.” The case was dismissed in 2017 after the CFPB was sanctioned for misconduct during the discovery process.
A class-action suit involving alleged fraudulent fees on student loan payments was settled against Global Payments in 2019, resulting in a payout for the class.
In 2019 a jury in the Superior Court of DeKalb County, Georgia, found that Global Payments was in breach of parts of its merchant-service agreement with Frontline Processing. On Sept. 23, 2019, the jury awarded more than $24 million in direct damages and $109.8 million in consequential damages. It appears this class-action suit has ended with prejudice against Global.
2020 saw a class-action suit brought against Global for alleged negligence in security that led to a data breach for customers. This suit is ongoing.
Heartland Payment Systems has also been involved in a number of suits and fines.
In 2022, Global Payments was sued for allegedly using “dark practices” to extract $300 million in membership fees from consumers. A further suit was brought against EVO Payments over its acquisition by Global Payments.
2023 saw two more class-action suits. Shafer v. Active Network LLC was a class action lawsuit filed in California against Active Network, a company that processes online event registrations and subsidiary of Global Payments. The plaintiffs alleged that Active Network violated California’s Automatic Renewal Law by failing to properly disclose automatic renewal terms and obtain customers’ affirmative consent before enrolling them in automatic renewal subscriptions. The plaintiffs sought restitution and injunctive relief on behalf of themselves and a class of similarly situated individuals. The case was settled for $1 million, with Active Network agreeing to change its automatic renewal practices and provide clearer disclosures to its customers.
Bronstein, Gewirtz & Grossman, LLC filed a class-action lawsuit against Global Payments, a payment processing company, alleging violations of federal securities laws. The lawsuit claimed that Global Payments made false and misleading statements about its financial performance and the impact of its merger with Heartland Payment Systems, a competitor in the payment processing industry. The plaintiffs alleged that Global Payments’ statements artificially inflated the company’s stock price, causing investors to suffer damages when the truth was revealed. The case was settled for $13 million, with Global Payments agreeing to pay the plaintiffs and make certain corporate governance changes.
A further such case was brought in 2023. A class-action lawsuit was filed against Global Payments Inc. by shareholder rights law firm Johnson Fistel, LLP. The lawsuit seeks to represent purchasers of Global Payments securities between October 31, 2019, and October 18, 2022. The complaint alleges that Global Payments and some of its top executives violated the Securities Exchange Act of 1934. Specifically, the lawsuit claims that the company made materially false and misleading statements related to its business, operational, and compliance policies. The lead plaintiff motions for this class action must be filed no later than April 10, 2023.
Global Payments Customer Support Options
Global Payments offers phone and email support as well as a customer support form on its website.
Global Payments Customer Service Numbers
- (800) 367-2638 – Toll-Free Customer Support
- (770) 829-8755 – Media Inquiries
- (770) 829-8234 – Investor Inquiries
Other Support Options
Global Payments Online Ratings
Here's How They Rate Online
Online Ratings Summary
Over 120 Complaints
As of this review, Global Payments has been accredited with the Better Business Bureau since 2021 and is showing an “A+” rating. The company has had 123 complaints filed against it in the last 36 months. Only 44 of these 123 complaints were resolved by the company to the satisfaction of the merchant. The remaining 79 were resolved to the dissatisfaction of the merchant or received no final response.
What Merchants Say
In addition to those 123 complaints, the company has also received 41 informal reviews on its BBB profile, and all of the reviews are negative in tone. The most recent review calls the company a scam:
I just signed up with this company they assured me they were going to save me money compare to the debit machine that I was already using, it was a scam to get me to sign up with them. They took over a $1000 dollars from my bank account, it’s been less than a month. When I leave messages nobody calls me back, I wish I would have check out there reviews beforehand. DO NOT USE THIS COMPANY ITS A SCAM .
Clients trying to find low rates should explore the providers offering the best rates in the industry.
A “C” Performance Overall
The BBB cites the company’s lack of response to some complaints as the primary reason for lowering its score. In light of the company’s huge influx of recent complaints, we have adjusted the BBB’s rating to a “C” grade according to our rating criteria.
Global Payments Fees, Rates & Costs
A Closer Look at The Contract
|Monthly & Annual Fees||Yes|
|Processing Rates||1.00% - 4.99%|
Variable Global Payments Contract Terms
Client reviews reflect rates as low as 1.1% plus $0.19 for credit transactions and 0.5% plus $0.19 for those using debit. However, the pricing and Global Payments fees of a merchant account will vary based on several factors, including a client’s business type, processing volume, and the reseller setting up the account. A sample Global Payments agreement from 2019 lists an early termination fee of $500 per location or Liquidated Damages, whichever is greater, which is as expensive as termination fees get. However, it appears that the service length agreement and early termination fee can be avoided by entering into a month-to-month agreement for the company’s services. Some client reviews claim that they have been charged an undisclosed $299 annual maintenance fee, account holds, and difficulty closing their accounts.
Virtual Terminal and Payment Gateway Pricing
In addition to its storefront payment processing services, Global Payments also dedicates a portion of its website to advertising its virtual terminal and payment gateway services. However, pricing is not disclosed on either of those services. Additional rates and fees, including gateway fees, technical support fees, batch fees, and additional transaction rates typically apply to these e-commerce services.
Negotiate Contract Pricing
Global Payments contracts currently feature terms lasting for 3 years including an automatic 1-year renewal. Business owners are encouraged to aggressively negotiate pricing and contract terms under this type of scenario because it usually means that fees and terms are highly flexible. We also encourage businesses to check out our list of the providers of the best merchant accounts.
Global Payments Employee Reviews & Sales Tacitcs
Should You Work For Them?
|Uses Independent Resellers||Yes|
|Discloses All Important Terms||No|
An Abundance of Resellers
The only strike against Global Payments in this section is how the company acquires new clients. Global Payments relies heavily on partnered independent sales organizations (ISOs) and independent sales agents (both are also called “resellers”) to market and sell its merchant accounts. Although this is a common marketing practice among larger processors, it can result in numerous client complaints because the resellers’ sales tactics are hard to control. This does not compare favorably to our list of best credit card processors.
No Misleading Rate Quotes
In this company’s case, it appears that most negative Global Payments reviews can be traced back to resellers; however, the overall number of Global Payments complaints is relatively low for a business of their size (though they have been increasing recently). Global Payments also does not promote any misleading “teaser” rates in its official marketing materials, but its issues with resellers contribute to keeping it from being considered a top merchant account provider.
Copyright © 2023 CardPaymentOptions.com, Inc. (Digital Fingerprint: 0d38c6720f0d78a701b74d58653af608). Getting paid to re-write this page? Click here to earn a reward.
Any unauthorized copying and reproduction of the content of this page, including all meta data and computer code, is strictly prohibited. While the information in the above article is believed to be accurate as of its publish date, the author and publisher make no representation or warranties with respect to the accuracy, applicability, fitness, or completeness of the contents. The author and publisher shall in no event be held liable to any party for any direct, indirect, punitive, special, incidental or other consequential damages arising directly or indirectly from any use of this material, which is provided “as is,” and without warranties. Any and all use of trade names and/or marks are for identification purposes only and shall not be construed as a claim of affiliation, or otherwise, with CardPaymentOptions.com, Inc. ("CPO") in any form. The sole purpose of the material presented herein is to alert, educate, and inform readers. It is not intended as legal or financial advice. We may earn revenue if you obtain services from a provider that we recommend. See this page to learn how we support our operations.