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Tell us about your experience with Group ISO in the comment section below.
(800) 722-4476
Founded in 2001
Group ISO is a merchant account provider headquartered in Newport Beach, California. The company is a reseller of Merrick Bank‘s merchant services.
Group ISO Payment Processing
Group ISO processes all major debit and credit cards for most business types. Their services include EMV card readers and swipers, POS systems, mobile solutions, access to virtual terminals, other e-commerce solutions, recurring billing, Level 2 and 3 processing, and EBT and NFC payments.
Group ISO Location and Ownership
Founded in 2001, Group ISO is a registered ISO of Commercial Bank of California, Irvine, CA, and is headquartered at 20062 SW Birch St. #300, Newport Beach, CA 92660. Mike Segura is listed as the CEO and co-founder of Group ISO. Group ISO is mentioned in complaints that have been filed against a Canoga Park, California-based company called American Verification Processing Solutions (AVPS). The CEO of AVPS is Tiffany Segura. At this time, the relationship between Group ISO and AVPS (and the relationship between Mike Segura and Tiffany Segura) is unclear. However, there is some evidence that the two companies may be linked.
Group ISO Review Table of Contents
- Costs & Contract: Group ISO appears to offer a three-year contract through either First Data or Merrick Bank with variable terms.
- Complaints & Service: Group ISO complaints number more than 15 on public complaints forums.
- BBB Rating: Group ISO has an “A+” rating and has received 1 complaint in the past 3 years. The company has been accredited by the Better Business Bureau since 2009.
- Sales & Marketing: Group ISO does not engage in misleading sales tactics and has received only a few complaints about its sales team.
Group ISO Reviews and Complaints
Here's What Their Clients Say
Complaint Summary
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Total Online Complaints
15+
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Live Customer Support
Yes
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Most Common Complaint
Fund Holds
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Low-Moderate Complaint Volume
We are currently able to locate over 15 Group ISO complaints, some of which describe the company as a ripoff or a scam. Common themes among complainants include fund-holds both during service and following the termination of service, increased rates, and sudden account cancellation. Most of these complaints appear to have been posted by merchants with high-risk business types who did not understand the company’s reserve account policy. Although this does not represent a breach of contract or unethical behavior by Group ISO, it does seem as though some of these complaints could be avoided by more thoroughly educating merchants on Group ISO’s cash reserve policy before signing them up for service (related: Why Credit Card Processors Hold Funds). If you have your own Group ISO complaint to make, please do so in the comments below.
Group ISO Lawsuits and Fines
We have not found any outstanding class-action lawsuits or FTC complaints filed against Group ISO. Dissatisfied merchants who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations.
Group ISO Customer Service Options
The Group ISO website offers a dedicated phone number and an email contact form for merchant support but is not considered to be a top-rated payment processor for customer service.
We have located multiple Group ISO customer service phone numbers:
(800) 960-0135 – Client Support
(800) 722-4476 – Sales
(800) 960-0135 – Agent Support
Group ISO BBB Rating and Report
Our Better Business Bureau Profile Assessment
BBB Summary
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Product & Service Complaints
0
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Billing & Collection Complaints
1
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Advertising & Sales Complaints
0
|
|
Guarantee & Warranty Complaints
0
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Delivery Complaints
0
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One BBB Complaint
Group ISO has been an accredited business with the Better Business Bureau since 2009. As of this review, the company is showing an “A+” rating. Group ISO has received just 1 complaint to its BBB profile in the past 36 months. This complaint was related to billing or collection and was resolved to the dissatisfaction of the merchant or received no final communication.
An “A” Performance Overall
The company is also not showing any informal reviews on its BBB profile, although it should be noted that these reviews are not subject to verification by the BBB. Given this information, we agree with the BBB’s rating.
Group ISO Fees and Rates
A Closer Look at the Contract
Cost Summary
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Swiped Rate
1.00% - 4.99%
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Keyed-in Rate
1.00% - 4.99%
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Virtual Terminal Rate
1.00% - 4.99%
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Payment Gateway Fee
Undisclosed
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Statement Fee
$10 Per Month
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Monthly Minimum Fee
$25
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Batch Fee
$0.20
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Early Termination Fee
$300
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PCI Compliance Fee
None
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Equipment Lease Terms
Undisclosed
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Group ISO Contract Terms
The standard Group ISO merchant application and program guide detail a three-year agreement through First Data with a $300 early termination fee, a $25 monthly minimum fee, a $0.20 batch fee, a $25 chargeback fee, and a $10 monthly statement fee. A company representative has stated that the early termination fee can be waived in some cases, which would make the contract month-to-month.
The same representative also stated that Group IS rates do not include a PCI compliance fee, and its monthly fee is negotiable depending on a merchant’s volume. The company’s standard contract has the potential to range from fairly average for the industry to reasonably competitive. Merchants are advised to negotiate for the best terms when possible. Additionally, Group ISO has recently switched from First Data to Merrick Bank as its primary backend processor. Whether this shift impacts its standard pricing and fees is yet to be seen.
Virtual Terminal and Payment Gateway Pricing
In addition to its storefront payment processing services, Group ISO also dedicates a portion of its website to advertising its virtual terminal and payment gateway services. Its e-commerce solutions also include online, real-time reporting, and recurring billing features. 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.
Level 2 and Level 3 Processing Services
In addition to its traditional merchant services, Group ISO also advertises that it provides Level 2 and Level 3 processing for B2B and B2G transactions. Level 2 and Level 3 processing rely upon different interchange rates than traditional consumer credit transactions. Accommodating those rates requires different payment processing technology from a merchant account provider to transmit the amount of data required to facilitate the transactions. These services are reserved for B2B and B2G purchases that utilize corporate credit cards.
Fund-Hold Issues
Most of the Group ISO complaints available online describe issues with fund-holds by Group ISO. Although the company does not appear to actively advertise it, Group ISO offers high-risk and offshore merchant accounts. These merchant account types are especially prone to chargebacks and fraud, and as a result, they usually require the establishment of a cash reserve by the processor. Although this is a standard practice within the industry, it appears as though Group ISO struggles in some cases to properly inform its merchants of how and why it is establishing a reserve account, leading merchants to believe that their money has been stolen outright.
High-Risk Merchant Expectations
Like many processors, Group ISO’s standard contract allows it a great deal of freedom when determining whether to establish large reserve accounts for a merchant, so merchants with high-risk business types should understand that they will almost certainly be subject to fund withholding under certain circumstances. Merchants operating in conventionally high-risk sectors may be better served by a top-rated high-risk merchant account provider.
We also encourage merchants to check out our list of the providers of the best merchant services.
Group ISO Jobs and Employment
Hiring Standards and Ethical Marketing Assessment
Key Points
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Employs Independent Resellers
Yes
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Advertises Deceptive Rates
No
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Discloses All Important Terms
No
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Independent Sales Agents
Group ISO advertises that it employs a network of independent sales agents to market its services. A central tenet of the company’s mission statement appears to be its dedication to providing adequate training and support for its independent agents, which suggests that Group ISO may avoid many of the problems that generally accompany this hiring practice.
This compares favorably to our list of best credit card processors.
Sales Complaints
We are currently able to locate a handful of Group ISO complaints that describe sudden rate increases above the figures initially quoted, but this does not appear to be a major problem for the company. Overall, merchants are not accusing Group ISO agents of unethical sales practices, and the company does not appear to engage in deceptive advertising in its official materials. Still, if you suspect that Group ISO rates are not as advertised or they are charging you undisclosed fees, we recommend seeking a third-party statement audit to find and eliminate hidden charges.
Group ISO Review Summary
Our Final Thoughts and Opinions
An Above-Average Merchant Services Provider
Group ISO rates as a better-than-average credit card processor according to our rating criteria. The company has a moderate complaint volume for its size, but it appears to offer serviceable customer support and a well-trained sales staff. The major factors reducing Group ISO’s grade at this time are its contract terms and complaints of fund-holding, although maintaining a clean BBB profile may help improve the company’s overall rating over time. For now, merchants are advised to compare the company’s pricing to top-rated merchant account providers to get the best deal.
If you found this article helpful, please share it!
Sam Ilaian
I had this company for my courier company for years. their rates are high. I closed the account but still got charged $195 because they require 30 days notice. After I gave them notice in writing they still Charge me. It takes them months to cancel the account, they keep withdrawing the fees even after the cancelation. I would not recommend them to anyone. I’m glad to be out of it.
This post will help: Best-Rated Merchant Account Providers
– Phillip
Petr Sorma
Rosalyn with Group ISO is the real deal! I am thankful to have found someone with her knowledge and experience.
Thanks Rosalyn!
-Petr
Client Protection Group LLC
Larby Amirouche
Well, for starters they should focus on relationships with trusted partners. EW Wright, who goes by the nickname EW, should not be allowed to process payments for merchants anymore with Group ISO. He has given Group ISO a nasty name, and everyone is talking about it now. He locked us out of our Gateway, and we were left with nothing. EW Wright is the worst kind of payment processor and makes Jeremy Johnson look like Mother Theresa. If I had known we were never going to see a penny, I would never have worked with him. EW Wright laughed about the CEO of Group ISO calling him about our experience and threatened to blackball us from all of payment processing like we were some kind of piece of sHIT. EW Wright does not mind having over $70k of processing and thinks he’s above the regulations which he represents on a daily basis. He is rumored to be processing 50k a day of shady rebills and doesn’t pay out the merchants has on his portfolio. He;’s quick to give away the Group ISO NMI Credentials but he won’t be accountable for payments. EW makes Ranch threats and other threats and hangs out with his mom in the mountains while merchants suffer and continue to suffer using Group ISO.