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Merchant Advocate 2023: Reviews & Complaints
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Merchant Advocate is a merchant account contract negotiation service headquartered in Jersey City, New Jersey. Founded in 2007, the company negotiates on behalf of U.S. businesses to guarantee lower rates and higher quality service without having to switch payment processors. Merchant Advocate does not appear to be affiliated with any specific merchant services provider or acquiring bank, as the company generates revenue by taking a percentage of the savings it produces for each client. The company advertises MLS Club Los Angeles FC, MLB’s Boston Red Sox, Outfront Media, Scotts Lawncare, and Harley Davidson as clients it has helped save money on merchant services.
Merchant Advocate’s Comprehensive Analysis and Reporting
To achieve these potential savings for a client, Merchant Advocate starts by conducting a comprehensive analysis of a business’s current credit card processing expenses. This includes examining the statement line-by-line to identify any areas where the business could be overpaying. The company then provides a detailed report that explains these potential savings to the business owner.
Negotiation and Monitoring Service by Merchant Advocate
Merchant Advocate then negotiates with the existing processor on behalf of the business to lower rates and remove any unnecessary fees. If the negotiation is successful, Merchant Advocate continues to monitor the account to ensure that these savings persist.
Merchant Advocate’s No Savings, No Fee Guarantee
The company operates on a “no savings, no fee” basis, meaning that they only charge a fee if they are able to secure savings for the business. This aligns their incentives with those of their clients, and it provides businesses with a risk-free way to potentially lower their credit card processing expenses.
Location & Ownership
Merchant Advocate is located at 281 NJ-34 #101, Colts Neck, New Jersey 07722. Eric Cohen is the CEO and founder of Merchant Advocate.
Table of Contents
Merchant Advocate Customer Reviews
Here's What Their Clients Say
|Total Online Complaints||<10|
|Live Customer Support||Yes|
|Most Common Complaint||N/A|
Low Complaint Total
There are few Merchant Advocate reviews available online at this time. One Merchant Advocate review directly accuses the company of being a scam, though it is unclear whether the complainant in this case is actually referring to Merchant Advocate, as the complaint mentions a company called “Merchants Advocates Group” based in Dallas, Texas. The client does state that their representative came from New Jersey and signed the business up for a contract through EVO Merchant Services, but we are unable to find any other evidence online that Merchant Advocate is partnered with EVO in any way. We are discounting this isolated incident at this time. If you have your own Merchant Advocate review to make, please do so in the comments below.
Merchant Advocate Lawsuits and Fines
We have not found any outstanding class-action lawsuits or FTC complaints filed against Merchant Advocate. Dissatisfied clients who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations.
Merchant Advocate Customer Support Options
The Merchant Advocate website lists phone and email contact information that appears to be directly serviced by the company. This is in line with our expectations of the top-rated merchant accounts for great customer service, which is a positive sign for Merchant Advocate.
Merchant Advocate Customer Service Numbers
- (888) 890-8822 – Toll-Free Support
- (732) 862-1129 – Fax
Other Support Options
- Support form
- Customer service email address at [email protected]
Merchant Advocate Online Ratings
Here's How They Rate Online
Clean Complaint Record
Merchant Advocate has been an accredited business with the Better Business Bureau since 2008. As of this review, the company has an “A+” rating with the BBB and has had 0 complaints filed against it in the last 36 months. The company has also not received any informal reviews on its BBB profile, although it should be noted that these reviews are not subject to verification by the BBB.
An “A” Performance
Since it is our philosophy that “A” ratings should be reserved for companies with 0 complaints, we agree with the BBB’s rating in this case. However, business owners should note that there are good reasons to be skeptical of BBB ratings.
Merchant Advocate Fees, Rates & Costs
A Closer Look at The Contract
|Monthly & Annual Fees||N/A|
Pay a Percentage of What You Save
Merchant Advocate pledges to only make money as a percentage of the monthly amount it saves each client. The company states that it is willing to negotiate lower terms with a business’ current provider rather than require a client to switch to a new company, which indicates that it isn’t simply trying to sign businesses up for an undisclosed parent company. Merchant Advocate also claims to monitor a business’ rates for the duration of the contract in order to ensure that the merchant’s credit card processor does not raise the client’s expenses. There are no reliable Merchant Advocate complaints suggesting that the company doesn’t adhere to these claims.
Handling the Negotiation For You
Merchant Advocate’s services may be appealing to businesses that do not feel capable of handling negotiations themselves. Business owners should understand, however, that a portion of the amount saved by partnering with Merchant Advocate will be paid out to Merchant Advocate.
We also encourage business owners to check out our list of the providers of the best merchant services.
Merchant Advocate Employee Reviews & Sales Tacitcs
Should You Work For Them?
|Uses Independent Resellers||No|
|Discloses All Important Terms||No|
No Sales Complaints
Merchant Advocate appears to primarily market its services through its website, through partnerships with various professional associations, and through traditional advertising. It is possible that Merchant Advocate engages in outbound telemarketing or hires independent agents, but the nature of its “no-switch” business model rules out any possibility of sneaky “slamming” tactics. The company does not list specific details of its assessment or negotiation practices in its official materials. However, there are no client complaints that describe underhanded tactics from Merchant Advocate. This compares favorably to our list of best credit card processors.
No Deceptive Rate Quotes
There is no indication at this time that Merchant Advocate uses high-pressure or deceptive sales tactics to market its services. We will therefore award the company an “A” rating in this section for the time being.
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