Millennium Bankcard Review
Also Known as PowerPay
Founded in 2008, Millennium Bankcard (also known as PowerPay) is a merchant account provider based in Massachusetts. The company provides retail processing, mobile payments, mail order/telephone processing, and e-commerce solutions. The company advertises Dejavoo and PAYWare POS solutions. Its virtual terminal is powered by the Authorize.Net as a payment gateway.
Location and Ownership
Millennium is headquartered at 9 Dudley Ct #200, Arlington, MA. Kevin Stiritz is listed as a principal of the company. According to the Better Business Bureau, PowerPay is a company owned by EVO Payments International which is a registered ISO/MSP of Deutsche Bank Trust Company Americas, New York. Though the BBB profile assigned to PowerPay shares the logo featured on the Millennium Bankcard website, it is unclear if any relationship between the companies exists.
Millennium Bankcard Review Table of Contents
- Costs & Contract: Millennium Bankcard offers an undisclosed contract term with a tiered rate structure. The company utilizes Authorize.Net for a payment gateway.
- Complaints & Service: Millennium Bankcard has received fewer than 10 public complaints.
- BBB Rating: Millennium Bankcard currently has an A+ rating with the Better Business Bureau and has received 0 complaints in the last 3 years.
- Sales & Marketing: Millennium Bankcard hires independent sales agents but has not had complaints about its sales practices.
- Rates & Fees: How Merchants Got The Best Rates With Millennium Bankcard.
Millennium Bankcard Customer Reviews
Here's What Their Clients Say
|Total Online Complaints||<10|
|Live Customer Support||Yes|
|Most Common Complaint||N/A|
Clean Complaint Record
We are unable to locate a couple of negative Millennium Bankcard reviews. This means that there are no accusations of the company being a scam or engaging in fraud. Given the relatively low rates advertised by the company, it reflects well on the company that there are no public complaints accusing the company of misrepresenting its pricing structure.
Millennium Bankcard Lawsuits
We have not found any outstanding class-action lawsuits or FTC complaints filed against Millennium Bankcard. Dissatisfied merchants who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations.
Millennium Bankcard Customer Support Options
Millennium Bankcard provides telephone support to merchants through a call center operating between 10 am to 6 pm EST from Monday through Thursday and from 10 am to 5 pm on Fridays. The company also discloses an email address and automated contact form on its website but it is unclear how those channels correspond with dedicated customer support and what the turn around time for responses is through them.
Few Red Flags
Though there is no evidence to suggest that merchants are having negative experiences with the company. The lack of complaints, reasonable customer service options, and clean legal history are the reasons behind the company getting an “A” rating in this category.
Millennium Bankcard Online Ratings
Here's How They Rate Online
Online Ratings Summary
|Product & Service Complaints||0|
|Billing & Collection Complaints||0|
|Advertising & Sales Complaints||0|
|Guarantee & Warranty Complaints||0|
Clean Complaint Record
Millennium Bankcard is not currently accredited with the Better Business Bureau. 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 does not have any informal reviews on its BBB profile either.
An “A” Performance Overall
In keeping with our policy that “A” ratings should typically be reserved for companies with 0 complaints. However, we agree with the BBB’s rating at this time given Millennium Bankcard’s clean complaint record. Merchants should be aware, however, that there are reasons to be skeptical of the BBB’s reviews.
Millennium Bankcard Fees, Rates & Costs
A Closer Look at The Contract
|Swipe Rate||1.65% + $0.20|
|Keyed-in Rate||2.10% + $0.20|
|Virtual Terminal Rate||2.90% + $0.30|
|Payment Gateway Fee||$25 Per Month|
|Early Termination Fee||Undisclosed|
|PCI Compliance Fee||Undisclosed|
|Equipment Lease Terms||Undisclosed|
Millennium Bankcard Contract Terms
There is not much information available about Millennium Bankcard contract terms. No sample merchant agreement is readily available that would cover the length of the contract, as well as any other important terms. The company does not disclose any early terminations fee, PCI compliance fee, or monthly minimums either. Though the company states that it resells the services of Authorize.Net for its payment gateway, no such mention is made of any payment processing services it could resell that would allow for an approximation of those vital terms and conditions. The company’s website does list rates of 1.65% plus $0.20 for swiped transactions and 2.10% plus $0.20 for key-in transactions.
Virtual Terminal and Payment Gateway Pricing
In addition to its storefront payment processing services, Millennium Bankcard also dedicates a portion of its website that advertises its virtual terminal and payment gateway. The company offers those services through Authorize.Net. The standard Authorize contract includes a transaction rate of 2.90% plus $0.30, a payment gateway fee of $25 per month, and a batch fee of $0.15. However, as a reseller of these services, Millennium Bankcard reserves the right to alter these terms and conditions. This in part is why it is imperative for merchants to understand how to effectively negotiate rates and fees.
Difficult to Assess Unclear Pricing
Though Millennium Payments does transparently disclose its pricing and its relationship to other merchant account providers like Authorize.Net it is difficult to gauge the company’s pricing. Without a sample merchant agreement or understanding of who backs its payment processing, it is difficult to understand what fees may be attached to its contracts. Nevertheless, without being able to see all of the company’s rates and fees, we award the company a “B” based on the rates it does disclose and the pricing of its gateway providers and ownership.
Millennium Bankcard Employee Reviews & Sales Tacitcs
Should You Work For Them?
|Employs Independent Resellers||Yes|
|Advertises Deceptive Rates||No|
|Discloses All Important Terms||No|
Millennium Bankcard Sales Tactics
Millennium Bankcard appears to hire independently contracted sales agents to market its services. The company’s website advertises partnership programs by which other businesses or individual agents can sign up to sell their services. However, the company’s automated telephone directory lists that the company offers an affiliate program. This is a common hiring practice within the credit card processing industry that often results in a sales team composed of poorly trained or unregulated agents. However, there are no complaints about the company’s sales practices despite it running an affiliate program.
No Misleading Quotes
To its credit, Millennium Bankcard does not appear to list deceptive rate quotes in its official materials. The company discloses its transaction rates for in-store payments. While it does not disclose a dedicated virtual terminal rate, it does convey that it is a reseller of Authorize.Net, whose terms and conditions are readily available.
It is possible that the company alters Authorize.Net’s standard contract terms but that is unclear. The company does not provide a readily accessible merchant agreement listing any additional fees though. If you suspect that the company is charging you undisclosed fees, we recommend seeking a third-party statement audit to find and eliminate hidden charges.
Given its transparent rate structure, dependable payment gateway, and lack of issues with sales practices, we award Millennium Bankcard an “A” in this category.
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