Payment Systems Corporation Review

Overview

Update 3/6/17: The Payment Systems Corporation website is no longer active and appears to have gone out of business. In March 2017, an informant contacted us with the following allegations about Payment Systems Corporation:

The informant stated that Payment Systems Corporation was previously owned by three people at varying percentages, and that roughly seven independent companies were created in the wake of its collapse. Every Payment Systems Corporation location closed except for the company’s Orlando and Dallas locations, which were subsequently acquired by i3 Verticals. i3 Verticals is therefore responsible for handling the complaints of former Payment Systems Corporation merchants.

The informant also stated that the former owner of Payment Systems Corporation, Matthew Wiltsey, now runs a new payment processing company called Lava Network Solutions (lavanetworksinc.com). This company is supposedly a new company with an entirely new staff rather than a rebranding or DBA of Payment Systems Corporation.

The informant also stated that TransMerit Merchant Services is owned and operated by a former owner and regional manager of Payment Systems Corporation. They are allegedly locked in a legal dispute with Payment Systems Corporation and do not work with Payment Systems Corporation’s former principals in any way, although they do retain a large number of Payment Systems Corporation’s old employees.

Finally, the informant stated that Merchant Club of America is owned by another former Payment Systems Corporation owner, but that the company does not operate in partnership with Payment Systems Corporation at this time. As with TransMerit, Merchant Club allegedly retains a large number of former Payment Systems Corporation employees.

Our independent research confirms or supports most of the informant’s claims. If you have any extra information to add, please share that in the comment section below this review.

Payment Systems Corporation (paysysco.com, paysysmerchant.com) is a merchant account provider headquartered in Los Angeles, California. Founded in 2007, the company offers point-of-sale equipment, e-commerce and mobile payment solutions, check services, fraud and risk management, and virtual terminals. Payment Systems also offers tailored solutions for merchants in the beauty, automotive, e-business, retail and restaurant industries. Payment Systems Corporation appears to be an ISO of First Data, but the company also appears to resell Northern Leasing equipment leases. Payment Systems is a registered ISO/MSP of Wells Fargo Bank, N.A. in Walnut Creek, California with corporate headquarters at 515 S. Flower St. Suite 1200, Los Angeles, California 90071.

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Sales & Marketing

According to multiple complaints filed by former Payment Systems employees, the company utilizes an inside telemarketing staff and independently contracted sales agents to market its services. The use of independent sales agents is a common hiring practice within the industry, and it generally results in an elevated complaint rate for a company. Payment Systems Corporation is no exception, as we are currently able to locate numerous negative Payment Systems Corporation reviews that accuse the company’s sales team of deceptive sales tactics. Common complaints include failure to provide or explain the full contract, the undisclosed addition of expensive equipment leases, and aggressive telephone sales tactics. The company does not appear to engage in deceptive advertising strategies in its official materials.

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Costs & Contract

According to what appears to be a combined merchant services agreement and equipment lease (found below), the standard Payment Systems Corporation contract is a five-year agreement with an early termination fee that includes Liquidated Damages plus a $500 de-conversion fee (to total no less than $995), an activation fee of $199, and a tiered pricing structure. This document does not mention a PCI Compliance fee or annual fee, but it is entirely possible that the company also enforces these fees.

The early termination fee is incredibly harsh for several reasons. To start with, it is to be no less than $995, which already makes it two to three times as expensive as the industry average. Additionally, it calculates its liquidated damages as the total of all monthly fees for the remainder of the five-year contract, which could launch its cost into the thousands of dollars. On top of this, it tacks on a de-conversion fee of $500, and if a merchant also signs up for a five year equipment lease, they will owe 70% of their remaining monthly payments for the duration of the equipment lease. The total cost of this early termination is electronically drawn from the merchant’s bank account immediately upon termination.

This document is uncommon in that it appears to simultaneously sign the merchant up for a merchant account and an equipment lease without describing too much about either agreement. According to numerous complaints on this site and elsewhere, the equipment lease is through Northern Leasing, while the payment processing services may be through First Data. It is unknown at this time whether the document we have provided is the company’s standard merchant agreement. If you have any information about the standard Payment Systems Corporation merchant agreement, please share that information in the comment section below.

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Complaints & Service

We are currently able to locate approximately 200 Payment Systems Corporation complaints outside of the BBB, many of which accuse the company of being a scam or a ripoff. Common themes among complainants include expensive equipment leases through Northern Leasing, unexpected or undisclosed fees, misrepresented rates, poor customer service, and long contract terms. We were also able to locate a handful of complaints filed by former employees who describe an unprofessional work environment with poor training and support. This is a very high complaint rate for a company that has only existed for six years, and it appears to be the product of many factors. Even more discouraging is the fact that the company does not appear to have actively responded to more than one or two of these complaints. After taking all of this information into account, we have assigned the company an “F” rating in this category.

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BBB

Due to the shutdown of the Better Business Bureau’s Los Angeles branch, Payment Systems has received a rebooted BBB profile that only dates back to March 10, 2013. Payment Systems Corporation is currently not an accredited business with the Better Business Bureau, and the company holds an “F” rating with the BBB due to 192 complaints filed against it in under two years. Of the total complaints, 115 were filed in regards to problems with products or services, 45 for advertising or sales issues, and 32 for billing or collection issues. Payment Systems successfully resolved 22 of the complaints. The remaining 170 complaints either failed to receive a response or were not resolved to the customer’s satisfaction, with a vast majority receiving no response whatsoever. This is a stunningly poor complaint resolution ratio, and we are therefore inclined to agree with the BBB’s grade of “F.”

payment systems corporation

Payment Systems Corporation Bottom Line

Payment Systems Corporation rates very poorly as a merchant services provider according to our standards. The company is showing a high number of complaints, many of which it does not appear to have made any effort to resolve. Additionally, a document that appears to be the company’s merchant agreement and equipment lease lists very high fees and long service terms. Merchants are advised against doing business with Payment Systems Corporation.

Hi, I’m Phillip and I’m disgusted by the state of credit card processing in the U.S. and abroad. I believe that the industry has been overrun by people who engage in fraud and deception in order to steal money from hard working business owners. I’ve made it my mission to expose the companies and individuals who engage in predatory marketing, pricing, and contracts, or just provide terrible service. Along with uncovering the bad guys, I’ve also discovered the good guys who do stand out from the status quo. CPO is a website where you will find ratings and reviews of these companies along with advice on how to save money and which service providers consider. Together we can move the industry in a positive direction. If you would like to help support my work, please checkout “Fee Sweep” my eGuide to getting the lowest possible fees when accepting card payments. If you haven’t heard of “interchange” this advice will save you hundreds, even thousands, in processing fees.

Schedule a Consultation with Phillip

22 Reviews Leave Your Review Below

  1. Extremely disappointed with Payment Systems. After not processing with them for over 6 months they were still charging me. Making it almost impossible to get to there customer care people. Leaving messages and never calling me back. Charged me over $700 for processing “0” monies. I will only deal with local banks and processing companies.

  2. I called Transmerit about the issue with my account from Payment Systems Corp and the woman on the phone said TransMerit was established a year ago and we did not have an account with them. How is anyone able to cancel their accounts in the com pany is no longer in business? We were never sent a notice about the name change of the company or where the payments were being directed to after the company closed. The contract ended and they are still taking payments out.

    1. Their current address is:

      Payment Systems
      PO Box 71409
      Los Angeles, CA 90071

      Their customer service number is 1-855-786-5871. I3 Verticals says that they are handling their accounts.

  3. In their ongoing shell game, this company now operates as TransMerit. Same format, same people, same everything. They will operate as TransMerit for while until people figure out who they really are – and then move on to the next set of victims.

  4. the wrost company ever
    they just raised 25cent on pin based transaction
    it used to be 9cent

    i been paying 200 every month
    now i m paying 600

  5. I ran into these guys a little more than a year ago. This is the umbrella company for Smart Choice Payments, First Choice Payments, and North American Processing Solutions. They’re all listed as separate companies, but they’re all connected. They have the same trainer, and corporate officials. I was recruited to work for/with them selling merchant services. I was new to the industry and learning along the way. After running two “leads” that they provided I quickly found out that they have absolutely no desire to learn and understand a client’s business. For them every problem has the same solution: sign them up for a lease. It was all smoke and mirrors. They don’t even let the sales guys price their own deals because they want you ignorant. They don’t want you to know how to accurately read a credit card statement or price a client fairly. They want you to know just enough trigger phrases to get a commitment and lock someone into a long-term deal. I quit within a week and signed on as an agent for Banc Certified Merchant Services. My business services the Pasadena, Maryland area. Check out Banc Certified. They’ve got great reviews on CPO.

  6. The company was bought and named changed to Performance Merchant Solutions. 25+ Hard working employees ( who were unaware of the many accusations against Payment Systems) were let go on April 30, 2015. The supposed “buy out” happened over night. Someone please do something about this company before more hardworking Americans loose their money.

  7. Please read complete statement.
    This statement is only be used as a example, fees and charges could vary. Check your current and previous charges to make it more accurate.
    This is a simply explanation of how their scam works.

    Definitions;
    Interchange Fees.
    The fee Visa, MC, Discover, Amex charge. These fees are non negotiable, everybody pays the same. The biggest chain store to the smallest home based merchant pays the same. No questions asked. Go to Visa or MC website and these fees are listed. There are many variants you just need to get a ruff idea were your sales fit in.

    Assessment Fees.
    Also non-negotiable. The fee the issuing bank of the Credit Card charges. Example Citi Banc

    The tricky terms. “SMOKE AND MIRRORS”
    Google these for further explanation.
    “ERR,” “BB,” and “EBB.”
    “Enhanced Billback,” “Billback,” “Enhanced Recover Reduced,”
    “Surcharge”

    Your current Monthly charges explained easily. (check your statement every-bodies are different)
    Sales $10,000 x 1.9% (processing fees)=$190.00 ” From talking to other merchants this is a fair average.”
    Monthly fees. statement fees, lease etc etc. $55.00
    Your total monthly fee on $10,000= $245.00
    Now these guys are trained no matter what, they are going to save you money. (YEAH RIGHT)
    0% Debit and 1% CC Their fiquires equal lets say $185.00
    Now the REAL STORY
    Some where in the bowels of their contract are the tricky terms. ERR, Surcharge, etc…
    They will hide them and if You do question them their answer will be deceiving.
    1st months statement from them.
    100 transactions and $10,000 in sales
    30 out of 100 charges are pin based debit= 0%x3000+30x$.09=$2.70
    70 out of 100 Credit Card = 1%x7000+70x.09=$76.30 + $2.70 = $79.00
    KNOW I AM NOT GOING TO ADD THEIR OTHER FEES (lease, statement, etc. etc.) YET AND YOU WILL SEE WHY.
    Your 2nd statement arrives and “OMG WTH!!!!”
    Now comes the “ERR” “BB” “EBB” aka Smoke and Mirrors”
    They only charged you 0%+.09 for debit and 1%+.09 for CC on previous months statement.
    Now they need to make up their interchange and assessment fees. I am going to just round these out to make it simple, but if you googled the above they can bundle these into any interchange rate they want.
    Debit Difference .5%x3000+30x$.02=$15.60
    Credit Card Difference .7×7000+70x.02=$50.40
    This is just what they have to pay in interchange and assessment. BUT WAIT THERE IS MORE!!!!!
    Surcharge 2.39%
    2.39%x7000=$167.30
    Lets add it all up 167.3+15.60+50.4+79.00=$312.30
    Now you just paid $67.30 more just in processing percentages. Add in all of their other fees and you are being totally taken to the cleaners. Their other fees can easily put your monthly bill over $550.00
    Now you are mad as hell. Do not feel bad so is everyone else that has been taken by a unethical processor.
    Can’t get out of it because in the “NON CANCEL-ABLE” contract you agreed not to sue them.
    Sales agents are 1099 (contract labor). Tuff love time our only real hope is to go after the sales agents. These company’s just plead that it was the sales agents fault for hieing. Maybe a few of the agents will plead against these companies. I hate to be that way, but I feel this could be our only hope of getting rid of the company’s.
    You were fraud ed when they did the comparison.

    ACTIONS SPEAK LOUDER THAN WORDS
    File a complaint with the Attorney General in your state and in the state of the company that fraud ed you.
    File a complaint with the FTC
    Let your local Congressmen know.
    Contact local news TV
    Yes even write a letter to the PRESIDENT.

    Luckily I was never taken by these guys. I do have 2 friends that are currently fighting with similar companies.
    LAWS NEED CHANGED!
    Small business employs about 50% of the work force in the US.

  8. I am physically ill over my dealings with this outfit. Not only did I get scammed into the same long term pilfering contracts everyone is complaining about, payment systems has stopped depositing my credit and debit charges into my bank account sighting 1 chargeback incident ( which was a mistake , customer did not recognize the charge and later apologized) as giving them the right to ” put a hold” on my account. Meanwhile ps is continuing to debit my account for their outrageous monthly fees. Can this really be legal?

  9. I am writing to explain what happened to a merchant of mine in Michigan. He processed around 60-70k a month, and our company had him priced at interchange plus 10 basis points with a .05 cent swipe fee and his effective rate (overall cost) of 1.6-1.7% every month. When I received the cancellation letter from the merchant, I immediately knew he didnt change to save a few dollars, so I called to find out why he would of switched.

    He said he had a “Sofia” from “Payment Systems Corp” came in to one of my merchants businesses and told him he would be saving around 200$-300$ a month by processing with them at her rate of 1% on all credit cards with 0% on debit cards plus 99$ per month for a lease that was month to month (turns out it is non cancel-able) for a terminal that cost a few hundred dollars. Now the merchant is paying a much higher rate of interchange plus 100 basis points vs interchange plus 10 basis points where we had him priced at first. This is clear fraud that can be proven and I will go to whatever lengths to make sure we put a stop to this. I work hard to save business owners money and lower there cost, and when I find out a crook is on the street ripping them off blindly, I have to do something.

    This is financial Fraud and there are literally 1000’s of complaints online on PAYMENT SYSTEMS CORP, all claiming the same exact thing FRAUD. I dont know how they can go around breaking the law without people trying to get justice. I’m helping the merchant fight this case and filing a small claims suite against the sales rep \and her manager. When I called Sofia, she did not answer, and when I called Micheal Ponzi he answered and told me she doesn’t really work for the company anymore and to call corporate, they have a special department that deals with all the Fraud and legal problems. The way Micheal made it sound, was like this is nothing new to him and jump in line of other people that got screwed.

    File your case with the FTC, Attorney Generals Office, BBB(even though thats a waste of time) and a small claims suite against the agent. Thats one way to see there face again and get back what is owed to you.

  10. We were ripped off by this company and have decided to fight back. We have developed a comprehensive strategy that many business owners will be able to use. Each case is unique and laws vary by state. Business owners can visit http://www.leasefinancegroup-scam.com for more information.

    At the heart of this fraud is the rate comparison sheet they give you. The way rates are presented is fraudulent and we’ve learned of a video which proves it. Regardless of what they told you regarding the lease or cancellation, fraud was committed at the very inception of the contract in the rates they quoted, making it invalid under Consumer Protection statutes in many states. The problem is that everyone has been focusing on class action lawsuits against Payment Systems and the leasing companies, instead of going after the weak underbelly of this scam… those supposedly “independent” sales agents.

    In our case we were told the processing would be compatible with our accounting software, which we insisted on. We were also told we had to lease not one, but two terminals in order to get the extremely low rates, which were programmed into them. We were also told all fees, such as PCI compliance fees, would be included. And finally we were given reassurances that there was a 30 day cancellation period in which we could return the terminals.The rate comparison showed that we would have saved over $600 over the previous month’s statement from our current processor. None of that was true.

    During the signing of the paperwork we were presented with 10 pages of microscopic print, which ultimately turned out to be two distinct documents, but we didn’t fully understand that until approximately 6 weeks later. The sales agent always referred to this collection of paperwork as an “application and service agreement”.

    The first 7 pages dealt with Payment Systems processing. Part of the scam is that you’ll be fatigued with reading the small print by the time you get to the “non-cancellable” lease agreement. Getting through the first 7 pages of the paperwork took us almost an hour. The last 3 pages of the paperwork was a non-cancellable lease through Lease Finance Group for two terminals that wee could purchase today on Amazon for $580. The total cost we would be paying to rent these terminals over the life of the lease totaled over $15,000. Remember, you have to lease these machines to get the low rates, and it’s those low rates that offset the high cost of leasing the terminals.

    It’s really in the last 2 pages of the lease contract where the small business owner really gives the store away. That’s where you agree never to sue them, that if there is ever is a suit it will be in New York and you will pay their attorneys fees. You also agree that you are leasing the machines as is and no one as any responsibility for them working. You also give LFG to charge ANY additional fees they deem reasonable. I suppose you could go to court to claim the extra fees they come up with aren’t “reasonable”, but you already agreed not to sue them.

    And finally after ALL that, the lease NEVER ends unless you give them 30 days written notice. If you do cancel after the lease term is up, you have to either pay to ship the terminals back along with a $150 restocking fee, OR you can pay them replacement cost – in other words you can buy the terminals at FULL price!

    Sales reps really don’t want the merchant to read all that. Perhaps that’s why those two pages only require initials. In our case the sales rep set the stage by rushing us along, saying she had an appointment she needed to get to several times. When we got to the lease agreement she stopped us as we started to read the first page and said, “This is just so you can get the terminals you need. If you don’t mind I really need to get to my next appointment. If you can just sign right here and initial on these pages right here. Remember, you have 30 days to cancel.

    We signed. She took the “paperwork” with her and said she would bring us a copy of everything when she came back to set up the terminals. She did come back and she did bring a copy of the paperwork, but mysteriously, it didn’t include that non-cancellable lease. Perhaps that’s because it has a clause in the fine print that would have allowed us to escape from this nightmare if we had done so within 7 days, And we WOULD have done so.

    We began having technical difficulties with the terminals immediately. Some transactions didn’t batch out, and we had frequent issues with transactions that didn’t settle. When it came time to sync this new system with our accounting software we were immediately told that was impossible and heard for the first time that there was no 30 cancellation period.

    Technical support/customer service was horrible to deal with. When the first statement showed up we finally knew every part of this deal was a total scam. The rates we were promised were a complete lie, and several fees (including a PCI compliance fee) had been added. Because transactions weren’t settling, it was becoming virtually impossible for our small business to maintain control of our accounting, which we are required to do by a federal permit we hold. We had no choice but to cancel, and we returned the terminals to Payment Systems, still not fully understanding that Lease Finance Group was the “owner”. We still didn’t have a copy of the lease contract at that point.

    During a call from the collection department at Payment Systems we mentioned the issue of our accounting software and the person on the other end said, “Oh, you have Quickbooks? In that case you’re contract with us is cancelled.” Now many business owners who’ve been stuck by Payment Systems would be overjoyed to hear that, and we were certainly very happy as well, but you’re still stuck with a 60 month lease.

    1. Why is the link shown above no longer working? I’ve tried clicking on it three times and I keep getting a notice that says I don’t have access and something about server 403. I am currently fighting with the people for the same issues posted by others here, and they are steadily taking money from my small business account, even though they forged the contract and I have not yet used the service!

    2. This is the worst Company and worst people I ever dealt with. After their representative showed me how I can save money with them. I Signed the contract and he did not leave me a copy of the contract, when i got credit card machine i want to find out more about so i type PAYMENT SYSTEM CORP AND I SHOW ALL NEGATIVE REVIEW AND COMPLAIN. SO I CALL PAULIN i BELLIVE thats her name and she convince me and told me if u r not satisfied i will cancel your service without any charge. but now i start processing and get bill and try to talk phone no was used by GOOGLE TALK SO NOW NOT IN SERVICE.i try to contact with email no reply. i email VP no reply.before only i was paying for around $12000 traction i pay only around $220 something, Now I pay $174 for LEASING FINANCE GROUP what they lease machine and PAYMENT SYSTEMS Charge me for 1st month was i did not have service and they charge me for $50 no traction ((min.FESS) what i pay for for i did not have service on that time. then 2nd month they took 1% from my credit card transaction and send send me bill for $184 & 64 and for August now they took 1% from credit card transaction and pay them also 333.82 & $64 i call them and say no one available and receptionist told me some one give you call tomorrow but not get any call.
      STAY AWAY FROM THIS FRAUD COMPANY.
      AND IF ANY ONE CAN HELP ME TO GET OUT FROM THEM I REAL APPRECIATE..

  11. WARNING!!! If you are a business owner and are looking for a credit card processor, STAY AWAY FROM THIS COMPANY AT ALL COST. I was a FOOL and got locked into a 3 year contract with this company and it has been a nightmare. I no longer even us them to process my credit cards and I just received a bill for $237.90 (for a service I do not even use). As a small business owner this is killing me. The actual processor I use now only sent me a bill for $135.00 for credit card processing of over $5000.00. Payment Systems Corp. sent me a bill as follows:

    Regulatory Product $4.95
    PCI Non Validation $19.95 (and I am PCI Compliant)
    Annual Fee $79.00
    Inactivity Fee $99.00 (are you kidding me?)
    Carepoint $20.00 ( I have no clue what this is)
    Debit Access Fee $15.00

    I just called Customer Service (don’t make me laugh) to discuss this bill. I was on the phone for about 15 until i got a person. After he asked me for my account #, Name, Business name and answered a few security questions, he told to me “No one in customer service is in right now, I will have someone return your call shortly”. I asked “Well, who are you?” to which he replied, ” the receptionist”. I it almost impossible to actually talk to a person who can actually help you in any way. The only answer they really ever give me is, ” You can terminate your contract for $900.”

    If you decide to go with any processor who is remotely associated with Payment Systems Corp., YOU ARE MAKING A HUGE MISTAKE.

    Without a doubt, THE WORST COMPANY, I have ever done business with.

    Paul Taylor

  12. i have a small business in c.a. and they done the same thing to me . they promise me to give me a 1percent fee and insted i have to sighn a contract to lease a equipment foe 60 month with americorp leasing after a month i find out every thing was lie when they start to charging me so many thing and of cors with a higher point which i was paying with my previews co. total con.

  13. This company is unbelievable! The sales rep came into my business acting like he was killing time. He started telling me about the company he works for. How they can save me thousands. Then started to explain to me have a program where we would pay 1% on most transactions. after my first bill I realized I was paying around 4%. Trying to talk to customer service, you realize this company is a scam. not to mention ftc is all over this company. Its been a nightmare since the day they walked through the door. not to mention they want to take me to court in New York. I live in Tennessee….

  14. Payment Systems is nothing more than a fraudulent and dishonest merchant provider that STEALS money from business owners. They are a deceitful company that will lie to you to get your signature on contracts that are ” non cancellation contracts.”
    This company should not only cease to exist, but the ones in charge should serve PRISON TIME for their actions and how they conduct themselves.

  15. Until someone can prove to me otherwise, I feel this company is more of a scam corporation than they are a credit card processor. From personal experience with one of my friends who got suckered, plus many many reviews I have read online, their tricks always seem to be the same. They have the usual complaints like most processors about deceptive fees that were not disclosed or high cancellation fees. BUT they almost always seem to trap someone in to a long term NON CANCELLABLE equipment lease. In my friend’s case here in town, they got him to buy a “kit” of 3 dial up credit card machines for $380 a month for 4 years. That is well over $18,000. Plus they charge $15 a month for insurance and at the end of the 4 years you have to give the equipment back AND pay a $150 restocking fee. My friend has a POS System and didn’t even need machines. Maybe one could have been an option as a backup, but it should have been bought for $400 or leased for $15 a month. They also have a credit card contract that locks you in for four years and it “appears” you have to pay damages for loss of profit to cancel it. This is going to be $1000 minimum from what I read. They said you cannot get their “cheaper” rates unless you get the machines, that the rates are programmed in them and come in the box. – To add insult to injury, after examining the promises he had of cheaper rates, they didn’t disclose the fees for mid and non qualified cards and his new processing with them will probably be the same or more than he pays now. We are currently checking with the State AG and trying to find out if the reports we read online of class actions suits and action by the NY Attorney General are true.
    AVOID THIS COMPANY AT ALL COSTS.

  16. This is the worst Company I ever dealt with. After their representative showed me how I can save money with them. I Signed the contract and he did not leave me a copy of the contract, which I received it 3 month later by mail. The machine arrived the same time. By this time it’s too late to cancel the contract.
    they sent the wrong machine after being on the phone with them for hours . They sent me a new one a week later.
    got it working and everything seams going ok till they sent me a cancellation letter that they are not accepting my account that my applications been refused / rejected. I sent them the machine back and closed my account with them by then I was charged over 5 times more than my last merchant service company and that is for only 23 days, not even a month and it was not refunded to me.
    Now It’s 15 months that past since cancellations and they still calling me and asking me for money. they just won’t leave me alone and there is nothing I can do.
    I advise anyone who read this to tell their rep to go to hell, because he will put you in hell. Since this ordeal any merchant services come along to sign me up, I say to them if your company is as good as you say it is, I’ll sign the contract after I tried you out for 3 month without countract. If they say no I say no too. Good luck to you all.

  17. I have a small boutique in MO and a few weeks ago I had a salesman come in from this company. He promised many ways of saving me money and assured me that I could get out of my contract with my current processor with no problems and over and over assured me that if I was not happy with his company I could cancel within 90 days he said “it is a MO law”. It turns out I am unable to cancel with my other processor and no one at Payment Systems will even attempt to help me and also there is no such law in MO about cancelling within 90 days. So now I am in 2 contracts and the people at Payments Systems just say “we dont know what to tell you, sorry” I have since found out there is another business right around the corner from me that was also deceived at the same time I was. And the more I research this company the more complaints I uncover about there deceptive practices.

  18. I would go further and say that while Payment Systems is extremely problematic and difficult to deal with in all of the ways described, it also serves to entrap small businesses into signing long term contracts with Lease Finance Group/ Global Leasing/ and/or Northern Leasing. (See class action suits and the New York Attorney General’s 2013 settlement with them.) The onerous terms of these contracts must be seen to be believed. You may think you have succeeded in canceling your contract with Payment Systems, but Lease Finance Group/ Global Leasing/ Northern Leasing et al, will , as your leasing agent, sue you for the amount remaining on the contract. And, it turns out, you have “agreed” to be sued in New York or Chicago. A public index search of 500 LFG cases in the Chicago jurisdiction showed that 90 to 95% of them resulted in default judgments against small business owners who chose not to fight. Yet those who fought often won.
    Bottom line: the sunny salesman offering big savings on credit and debit card processing — IF you sign a long term lease contract — is not your friend. The savings will not pan out, and you are opening yourself to real trouble with real predators.

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