|Sales & Marketing|
|Costs & Contract|
|Complaints & Service|
Momentum Payment Systems (momentumpayments.com) appears to be a relatively new alternate business name of Encore Payment Systems. Like Encore and Prodigy Payment Systems, Momentum is based out of Addison, Texas. Encore was founded in 2004. Momentum Payment’s overall rating is based on our Encore Payment Systems review.
Also see our reviews of this company’s other known DBAs:
|Momentum Products and Services||Industries Served|
This section is covered in the Encore Payment Systems review.
- Ethically questionable marketing tactics
- Use of multiple business names/DBAs
- “Hiring mill” recruiting strategy of Independent Sales Agents (ISAs) with high turnover
- Agents appear to receive higher commissions for selling expensive contracts and rates
- Underwriting policies allow for excessive fees and contract terms
- Markets expensive and non-cancellable equipment leases
Momentum Payment Systems Marketing Example
Momentum Payment uses the same merchant account agreement as Encore. An older version is available below. Merchants have reported even more expensive contract terms than those shown in the linked document.
- Pricing will vary by merchant based on business type and sales agent.
- Standard contract includes 3- or 4-year service agreement
- Early Termination Fee (ETF) of $195 but some merchants have reported ETFs of $450 or more
- Equipment leases often have a 4-year commitment and cannot be cancelled without paying the full lease amount, often in the thousands of dollars (leasing equipment is optional).
This section is covered in the Encore Review.
- Company has received a moderate-to-high number of complaints for time in business.
- Numerous complaints have been filed by former employees and agents.
- Common complaints include expensive and non-cancellable equipment leases, and undisclosed/”hidden” fees.
Related: Best Processors For E-Commerce
Momentum Payment Systems has its own Better Business Bureau report. As of this review, the company is not accredited with the BBB and has an “A” rating. The BBB is reporting 34 complaints filed in the last 36 months; however, please see the Encore Payment Systems review for full details on this company’s complaints. Based on Encore’s complaint count and resolution ratio, we are adjusting the rating to a “D” for the purposes of this review. You can learn more about why we adjust BBB ratings in our rating criteria.
* Denotes CPO-adjusted BBB score
This review was originally published on 10/20/11 and was last updated on 3/20/15.
Leave your review of Momentum Payment Systems in the comment section below:
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