Momentum Payment Systems Review

This section is covered in the Encore Payment Systems review.

Summary:

• 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

Momentum Payment Systems does not have a profile with the Better Business Bureau at this time. We therefore will not factor a BBB rating into this review.

Momentum Payment uses the same merchant account agreement as Encore. An older version is available below. In recent months, merchants have reported even more expensive contract terms than those shown in the linked document.

Summary:

• 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)
• See the Encore Merchant Application

Momentum Payment Systems rates poorly as a credit card processor due to its close affiliation with Prodigy Payment Systems and Encore Payment Systems. For a full understanding of Momentum Payment Systems, please visit the Encore Payment Systems review.