In this review of Merchant Cooperative, we will provide a concise yet thorough look at this versatile merchant account provider that serves retail, restaurant, e-commerce, and mobile businesses. We'll cover their rates and fees, contract terms, customer complaints, and industry ratings. We wil also examine their merchant services and credit card processing capabilities, including POS systems for retail and restaurant sectors, as well as internet and web services.
Our review includes an assessment of the company's additional services, alternative financing, and web solutions. We'll discuss the pros and cons based on customer feedback and examine the company's legal standing, fees, and rates. Finally, we touch on employee perspectives and the company's sales tactics, offering a comprehensive overview of Merchant Cooperative.
Merchant Cooperative handles the processing of most major debit and credit card payments, with a focus on businesses in South Carolina. Their services include EBT processing, check conversion and guarantee, electronic gift certificate processing, and equipment leasing. They support traditional in-store POS systems, online virtual terminals, and mobile payments. The available equipment includes thermal printers, PIN pads, card swipers, and check scanners.
POS Systems for Retail and Restaurants
Merchant Cooperative provides Point-of-Sale (POS) systems tailored for retail and restaurant businesses. They advertise no sign-up fees and offer competitive VIP rates for these services.
Internet and Web Services
The company offers a virtual terminal for internet and web-based transactions at no additional sign-up cost.
Additional Services
Merchant Cooperative also offers EBT processing, check conversion and guarantee, electronic gift certificate processing, and equipment leasing. Their marketing primarily targets businesses in South Carolina.
Alternative Financing and Web Solutions
Merchant Cooperative provides alternative financing options and web solutions, though specific details on these services are limited.
Location & Ownership
Merchant Cooperative is a registered ISO/MSP of Deutsche Bank Trust Company, New York, New York. The company is headquartered at 115 Etiwan Drive, Goose Creek, South Carolina 29445, and is led by President Christian Maurer.
Merchant Cooperative offers standard payment processing services to businesses in South Carolina
Merchant Cooperative Customer Reviews
Here's What Their Clients Say
Customer Reviews Summary
Total Online Complaints
30+
Live Customer Support
Yes
Most Common Complaint
Equipment Lease
Recent Lawsuits
No
Assessing Complaint Levels
We have identified more than 30 negative reviews about Merchant Cooperative online. Some reviewers label the company as a scam. Notably, the frequency of complaints significantly decreased after 2012. Prior to this decrease, complaints highlighted issues such as non-disclosure by sales representatives, undisclosed fees, subpar customer service, and unethical behavior by sales and management personnel. Few of these complaints have been countered by Merchant Cooperative’s representatives, who occasionally claim these allegations are unfounded. We encourage you to share your experiences with Merchant Cooperative in the comments section below.
Legal and Regulatory Concerns Involving Merchant Cooperative
Our search did not uncover any unresolved class-action lawsuits or Federal Trade Commission (FTC) complaints against Merchant Cooperative. Customers seeking alternatives to legal action for resolving disputes may find it useful to report their issues to relevant regulatory authorities.
Customer Support Evaluation
Considering the existence of both genuine and disputed reviews, Merchant Cooperative’s volume of complaints and their nature negatively impact its customer service rating, leading to a “C” score in this category. Merchant Cooperative provides contact information on its website, but it remains unclear if these lines are dedicated solely to customer support.
Contact Information for Merchant Cooperative Customer Service
(888) 287-6033 – Toll-Free Customer Service Number
This updated content aims to offer a more balanced perspective on Merchant Cooperative, focusing on customer reviews, complaints, and customer service options while maintaining the article’s original tone. By including and optimizing key phrases such as “reviews,” “complaints,” “customer reviews,” and “customer service numbers,” this revision enhances SEO effectiveness and encourages reader engagement.
Merchant Cooperative currently has an “A+” rating with the Better Business Bureau and has been accredited since September 2016. The company’s profile is currently showing 1 complaint in the last 36 months. The 1 complaint was resolved to the dissatisfaction of the client or did not receive a final communication.
An “A” Performance
Considering Merchant Cooperative’s complaint total and resolution ratio, we agree with the BBB‘s rating.
Based on complaints received by Merchant Cooperative, the standard contract with the company spans three years and is facilitated through EVO Payments International. It includes an early termination fee ranging from $250 to $395 and entails a long-term, non-cancellable equipment lease typically through MBF Leasing or First Data Global Leasing. Considering the affiliation with EVO Payments International, Merchant Cooperative likely imposes additional charges such as PCI compliance fees, annual fees, statement fees, and monthly minimum fees. However, specific details regarding these fees have not been mentioned in available reviews. If any Merchant Cooperative fees are discovered, we encourage you to share them in the comments below.
Virtual Terminal and Payment Gateway Pricing
In addition to its in-store payment processing services, Merchant Cooperative also offers virtual terminal and payment gateway services. Unfortunately, pricing information for these services is not disclosed on the website. Typically, additional rates and fees, including gateway fees, technical support fees, batch fees, and additional transaction rates, are applicable to these e-commerce services.
Long-Term Lease Concerns
While EVO’s standard contract terms are considered average to below average, Merchant Cooperative’s practice of adding costly equipment leases through MBF and First Data Global Leasing has resulted in a lower rating of “C” in this category. Business owners are generally advised against equipment leasing due to the substantial long-term costs involved, often amounting to thousands of dollars for equipment valued at less than $500. Cancelling these lease agreements usually incurs significant fees. This situation is far from ideal, and we recommend exploring alternative options. We encourage businesses to refer to our list of the best merchant services providers for more suitable solutions.
Merchant Cooperative appears to primarily utilize outbound telemarketing and commission-only sales representatives to market its products and services. This combination tends to generate a high number of complaints within the credit card processing industry, and Merchant Cooperative is no exception. We are able to locate numerous Merchant Cooperative reviews that report “slamming” tactics and undisclosed contract terms, particularly with regard to the company’s long-term credit card terminal leases through MBF Leasing and First Data Global Leasing. This does not compare favorably to our list of best credit card processors.
Incomplete Rates Removed
At the time of an earlier Merchant Cooperative review, the Merchant Cooperative rates page advertised rates that “start at 1.09% for Swiped Merchants and 1.79% for Keyed Merchants,” but it also stated that its rates and fees “depend on the type of business you have, whether you are swiping cards or keying cards, which card types you are accepting, and more.” The company was probably referring to “Mid-Qualified” and “Non-Qualified” downgrade fees which are charged on the majority of transactions. Businesses should heed the company’s words and expect an effective Merchant Cooperative rate that is much higher than 1.09% or 1.79%. If you suspect that Merchant Cooperative is charging you undisclosed fees, we recommend seeking an independent, third-party statement audit.
The current rates page on Merchant Cooperative’s website
Our Merchant Cooperative Review Summary
Our Final Thoughts
Merchant Cooperative holds a position as an average credit card processing provider. Since its inception, the company has managed a low-to-moderate rate of customer complaints, which is a relatively positive indicator given its operational history. However, it’s important to note that Merchant Cooperative is known for selling costly equipment leases, which can significantly increase the financial burden on businesses. These leases are coupled with contract terms that are typical for the industry, facilitated through their partnership with EVO.
Merchant Cooperative’s standing has been somewhat bolstered by an improvement in its Better Business Bureau (BBB) rating. This elevation in status has positively influenced its grade, reflecting a potential shift towards better business practices and customer satisfaction. Despite this progress, there remains room for further improvement before Merchant Cooperative can be considered among the top-rated credit card processors. Businesses considering this provider should remain vigilant, examining all aspects of the contract and the total cost implications of any equipment leases. Doing so will ensure they are making an informed decision that aligns with their financial capabilities and business needs.
Location & Ownership
Merchant Cooperative is a registered ISO/MSP of Deutsche Bank Trust Company, New York, New York, and is headquartered at 115 Etiwan Drive, Goose Creek, South Carolina 29445. Christian Maurer is the president of Merchant Cooperative.
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In the late 2000s, as a broke college student struggling to make ends meet, I was contacted by a merchant services company after uploading my resume to a job listings website. This company promised substantial commissions and ongoing residual income for simply persuading businesses to accept credit card payments. It seemed straightforward enough—after all, what business doesn’t need to process credit card payments? Following a phone interview with a persuasive “sales director,” I found myself embarking on what I believed would be an easy job that would significantly boost my bank account with reliable monthly income and large sales commissions. However, the lessons I learned would profoundly change my life in ways I could never have imagined.
After completing my sales training, I hit the ground running, eager to make sales. This broke college student was determined to improve his financial situation! My first attempt at a cold call, with no prior appointment, ended with a burly man in his 50s yelling at me to leave, claiming he had been “totally robbed” by someone like me before. As I hastily exited, puzzled and intimidated by his reaction, I couldn’t help but wonder what he meant. Throughout the day, I encountered similar hostility from other business owners, all expressing disdain for the industry I had been so excited to join that morning. Confused and curious, I decided to shift my approach from selling to listening.
I quickly uncovered that the merchant services sector was riddled with unethical practices, including hidden fees, deceptive marketing, fine-print traps, and much more. It dawned on me that I had nearly been tricked by a dubious company into selling overpriced services under contracts with long-term commitments, all without being fully aware of what I was promoting. Outraged, I resigned from that company but learned that there were indeed ethical credit card processing companies that treated their clients fairly. Over the next four years, I worked for one such company, assisting hundreds of businesses in securing cost-effective processing solutions. Yet, I also met many more who had been misled and trapped in onerous service agreements. Determined to help people steer clear of these unscrupulous providers, I launched this website in my spare time, dedicating myself to researching and sharing my findings on every merchant account provider I could investigate.
Gradually, more and more business owners began to discover my articles. As word spread, search engines started to rank my content highly, amplifying its reach. My efforts were making a difference! Eventually, the website garnered enough traffic to enable me to leave my job and focus on it full-time, a journey that has now spanned over a decade. This path has not been without its challenges; unscrupulous company owners have tried to intimidate and sue me into silence on several occasions. Yet, I have stood firm against each threat. Here I am, continuing to publish reviews and articles, hoping to safeguard others from the pitfalls of the credit card processing industry.
If you believe in my mission and wish to contribute, please share my articles on your websites and social media. Thank you for visiting!
Testimonials & Complaints
How Did Merchant Cooperative Treat You?
3 User Reviews
Francina
I must agree… lots of lies & deception!!! Please be aware of their Sales representative. I do intend to seek legal advice about this matter!!!
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Francina
I must agree… lots of lies & deception!!! Please be aware of their Sales representative. I do intend to seek legal advice about this matter!!!
This post will help: Find and Eliminate Hidden Fees From Your Monthly Bill
-Phillip
leah
switched over 2 years ago, and I am still very happy with my products, and especially the money I have saved.
Janet Fenn
BEWARE of this company. Very deceptive practices!!