All-Purpose and Cash Discount Payment Processing
Merchant Industry is a merchant account provider founded in 2007 that specializes in providing credit card processing and debit card processing services to small businesses within the United States. The company also appears to do business under the name “National E-Payment, Inc.” and possibly resells the merchant services of First Data and TSYS according to the company’s inclusion of those merchant account providers on its website. In May 2017, Merchant Industry launched a DBA called “Swipe4Free” (swipe4free.com) that exclusively promotes a cash discount pricing program. The company also provides Apple Pay integration services to businesses.
Merchant Industry Location and Ownership
Merchant Industry LLC is a registered ISO/MSP of First National Bank of Omaha, NE and Wells Fargo Bank, N.A. of Walnut Creek, California, with corporate offices located at 36-36 33rd St., Suite 306, Long Island City, New York, 11106. Leo Vartanov is the founder and CEO of Merchant Industry.
Merchant Industry Review Table of Contents
- Costs & Contract: Merchant Industry offers a three-year contract through First Data that includes a liquidated damages early termination fee.
- Complaints & Service: Merchant Industry has received more than 40 public complaints.
- BBB Rating: Merchant Industry has an “A+” rating and has received 40 complaints and 8 reviews across 2 profiles in the past 3 years. The company’s main profile has been accredited by the BBB since 2015.
- Sales & Marketing: Merchant Industry appears to hire independently contracted agents and has received more than a dozen complaints about its sales team.
- Rates & Fees: How Merchants Got The Best Rates With Merchant Industry
Nothing but positive thing to say about Merchant Industry. They have saved us money while streamlining our point of sale process. We no longer have to wait several days for our cash to be available. Best move we could have made.
Slime of the earth. Company that charges cancellation fees that are about 10X the national average. Talk about bad business practices. Their staff is rude as hell too.
I switched to Merchant Industry because I was losing business by my inability to process small sales. Now I can take a debit or credit card for a small amount without losing money. In the produce business when your average sales is around $10. 00, this really helped. I have been very pleased by the fast availability of funds.
Hi Yaqu,
Please reply to this comment with your business name and location in order to authenticate your testimonial. Thanks!
Excellent merchant processing company. My business falls into the category of high risk. After providing additional information about my business the opened my account. My sales rep was very helpful walking me through the entire process. The rates are good and the virtual terminal is awesome.
Hi Jack,
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This company is very frauduant. I have tried to get them to stop charging my business, but they continue to make unauthorized charges. I have tried to contact them more than 100 times!! they always answer they are reviewing. if you work with this company, you will see your business money will be out of your pocket every day.
This post will help: Cancelling a Merchant Account Without Paying a Fee
-Phillip
THE BOTTOM LINE
There are multiple reasons to opt for Merchant Industry. From their approval rate and fast turnaround, to their customized processing solutions and state-of-the-art equipment, they offer tons of benefits and cater to multiple types of businesses. Whether your business is online or in-store, it’s likely they’ll be able to provide the right solution for your payment and processing needs.
I read some of these review and I was concerned. But their price was so good that I took a chance anyway. I couldn’t be happier that I did. I have a store and also an online option to sell my goods and they took care of setting up both. When I had an issue with my machine they were responsive and took care of it right away. Even when I called on a weekend. They are solid in my mind 100%.
Hi Roman,
Please reply to this comment with your business name and location in order to authenticate your review. Thanks!
I could not be happier with the experience I had with Merchant industry. From the first conversation, I was very impressed with the level of professionalism and the the time the team took to answer all questions and inquiries so that I could grow my business. Equally impressive was the customer care experience after making the decision to proceed on with Merchant Industry. The service provided was above and beyond my expectations. I encourage any and all small to medium sized companies to reach out and work with this amazing team!!!
Hi Amy,
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They are an awful company and you should stay far away from them. First I signed with Global payment Solutions who it turns out is at the same office as Merchant Industry. they promise low fees at first but if its to good to be true it is. global locks you into Merchant Industry who then locks you into a 3 year contract. I couldn’t process credit cards and wanted out of the company. they will charge me with almost $3,000 of early termination fees. In the meantime they will be charging for about $50 a month for no services. Their customer service, machinery is just horrible. Run away from this awful company. If you did get scammed call local law enforcement.
From The Editor
This Post Might Help: Cancelling a Merchant Account Without Paying a Fee
Run from this business! I’ve attempted to resolve issue’s for months for our e-commerce business without any success. Good luck trying to communicate with them as well. You can email them on every issue and beg for a response and you still get ZERO response. I was sent to them by a third party and and now I’m looking at switching because these guys simply don’t care! Sean Puri sent me a new contract back in March 2018 stating new rates and just sign. We signed and we are still being charged the old rates even as of this writing. When asked about our rates Paul informed me that Sean didn’t have us sign the correct documents so he did send them.They put our parent companies name on the credit card report so now I’ve been flooded with customers calling stating they didn’t purchase anything from that company. This has also led to three charge-backs at $35. per charge which is totally their fault however they seem unable to make this change which I’ve asked since March/April 2018 time frame.
I’ve dealt with Nafisa Sanchez, Paul Kanevsky and Sean Puri and all three don’t seem to care about fixing it.
SO IF YOUR LOOKING FOR A CREDIT CARD PROCESSOR RUN FROM THIS COMPANY! I’d say that one could accuse them of being a scam or ripoff as your under contract for one rate however they charge you another.
I’ve given them sufficient time frame to fix their mistakes and even just yesterday I asked them for feedback on the over charges on our invoice which I sent to the three names above and as of this writing NONE of the three even cared to state they received my email.
I’m even moving towards talking with my attorney on this issue about them as we’re now talking about a decent amount of cash in fee’s they really owe me for overbilling.
If I could give zero star rating I would have. Just look at all the other people who have given them exceptionally bad reviews. You think they have a problem!