|Sales & Marketing|
|Costs & Contract|
|Complaints & Service|
Platinum Payments (platinumpayments.com) is a merchant account provider based in Ogden, Utah. The company’s name is similar to that of another Utah credit card processor called Platinum Payment Systems (platpay.com), but the two companies do not appear to be affiliated. Platinum Payments is a registered ISO/MSP of Elavon, Inc., and the company does not list its exact address within Ogden, Utah. Samuel Smith is the owner of Platinum Payments.
|Platinum Payments Products and Services||Industries Served|
|Key Points – Sales & Marketing|
|Uses independent resellers?||Yes|
|Promotes deceptive rate quotes?||No|
|Discloses all important terms?||No|
Platinum Payments appears to primarily market its services through a combination of inside sales staff, independently contracted sales agents, and traditional advertising. The use of independent sales agents is commonly linked to high complaint volumes for companies, but we are currently unable to find any Platinum Payments complaints that describe deception by the company’s sales team. Platinum Payments also does not list any misleading rate quotes or unrealistic guarantees on its website. These factors have earned the company an “A” rating by our standards.
|Key Points – Costs & Contract Terms|
|PCI compliance fee:||Variable|
There is very little publicly available information about the standard Platinum Payments contract at this time. The company is a reseller of Elavon, so it’s likely that its contract terms resemble those found in the standard Elavon contract. However, Elavon usually provides its resellers with some flexibility to modify pricing details as they deem necessary. One complaint filed with the Better Business Bureau mentions a monthly statement fee of $12, but this fee may not be standard for the company. Aside from this lone complaint, there are not any public complaints that express dissatisfaction with Platinum Payments’s pricing. We will therefore assume that most of the company’s merchants are happy with the rates and fees that they pay. If you have any specific knowledge of the standard Platinum Payments contract (including any early termination fees or PCI compliance fees), please share that information in the comment section below this review.
|Key Points – Complaints & Service|
|Live customer support?||Yes|
|Most common complaint:||N/A|
We are currently unable to locate any negative Platinum Payments reviews outside of the Better Business Bureau, which is a good sign that the company is not a scam or a ripoff. Platinum Payments does not list any customer support information on its website, so it’s possible that the company simply outsources this service to Elavon’s 24/7 support line. It’s also possible that some complaints intended for Platinum Payments are instead filed against Elavon’s online profiles, but we have found no evidence that this is occurring. Given the company’s nearly pristine complaint record, we have assigned it an “A” for the time being.
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|Key Points – BBB Report|
Platinum Payments currently has an “A+” rating with the Better Business Bureau and is not showing BBB accreditation. The company has received one complaint on its BBB profile in the past three years, which was filed in relation to a billing or collection dispute. Platinum Payments proposed a resolution to the issue, but the merchant did not finalize the process by indicating satisfaction with the outcome. It is our belief that “A+” ratings should be reserved for companies with zero complaints, so we have slightly adjusted the BBB’s rating to an “A” for the purposes of this review.
* Denotes CPO-adjusted BBB score
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