SUPPLEMENTAL UPDATE 11/2/2015 – iPayment (AKA: Flagship Merchant Services) has repeatedly made hostile attempts to force the removal of this review. These have included intimidation through bullying and threats of litigation under false pretenses as well as an illegitimate DMCA claim filed with our host, which was rejected on the grounds that it was a “guise” to suppress fair use of a trademark. It is our opinion that such actions reveal the depths to which iPayment’s executives will stoop in an attempt to suppress constitutionally protected free speech that is critical of their business practices. We view these actions as not only highly unethical, but as a demonstration of their unwillingness to correct the problems that cause merchant complaints and, instead, a preference for aggressive strong-arm retribution tactics. If you have been a victim of such threats or bullying, please detail your experience in the comment section below.
iPayment (ipaymentinc.com) is a very large ISO of First Data that claims to provide merchant accounts to approximately 153,000 small businesses nationwide. Founded in 1999, the company is headquartered in Nashville, Tennessee, but maintains its primary operations center in Los Angeles, California. iPayment became a publicly traded company in 2003 but was then purchased by an investment team led by its founder Greg Daily in 2006. It has operated as a private company since 2006.
iPayment also owns the domain name “creditcardprocessing.com,” though it is unclear whether it regards this business as a subsidiary or as a separate enterprise. iPayment is sponsored by Wells Fargo of Walnut Creek, California, as its Acquiring Bank. Carl Grimstad serves as the company’s co-founder and CEO, while Greg Cohen is its president.