PNC Merchant Services Review

PNC Merchant Services is the merchant services division of PNC Bank, headquartered in Pittsburgh, Pennsylvania. The company works with First Data (now Fiserv) to provide merchant accounts and Cloverpoint-of-sale products. It is therefore not a direct processor.

Payment Processing

PNC Merchant Services offers a wide range of payment processing solutions, enabling businesses to accept electronic payments such as credit cards, debit cards, and mobile wallets.

Point of Sale

PNC Merchant Services provides debit and credit card processing using Clover’s point-of-sale products. These products include the Clover Go mobile solution, Clover Flex portable solution, Clover Mini tablet, and Clover Station terminal.

Mobile Payments

To meet the increasing demand for mobile payment options, PNC Merchant Services allows businesses to accept payments via smartphones and tablets. This capability enables merchants to process transactions on the go.

Online Payment Gateways

PNC Merchant Services provides secure online payment gateways for e-commerce businesses, ensuring smooth and reliable transactions.

Fraud Prevention

Security is a critical focus for PNC Merchant Services. They offer various fraud prevention tools to protect businesses from fraudulent transactions. These include address verification, secure encryption, and advanced fraud detection systems.

Analysis of PNC Merchant Services Feedback

Research indicates over 30 negative reviews for PNC Merchant Services across various platforms, with allegations ranging from scam accusations to deceptive practices. Recurring issues highlighted in these complaints include high early termination fees ($3,000-$5,000), undisclosed contract terms, fund holds, and challenges in accessing customer support. Despite being a low volume relative to the company’s size and tenure in the industry, the pattern of grievances about misrepresentation and excessive costs significantly impacts PNC Merchant Services’ rating, warranting a “B” at this time. We invite customers to share their PNC Merchant Services experiences in the comments below.

Support Options Provided by PNC Merchant Services

PNC Merchant Services promotes 24/7 customer support through dedicated phone and email channels. However, it’s not explicitly stated whether these services are managed directly by PNC or through First Data (Fiserv), leaving some ambiguity regarding the quality of support offered.

PaymentPop Rating for PNC Merchant Services

Positive Feedback

There are no positive reviews published about PNC Merchant Services on the PaymentPop website.

PNC Merchant Services BBB Rating

PNC Merchant Services (as PNC Financial Services Group) has an average customer review rating of 1.11 stars and a grade of “A+” on the BBB based on 442 customer reviews. Most reviews are about PNC’s banking, so common themes are hard to apply to its merchant services branch.

Trustpilot Rating for PNC Merchant Services

PNC Bank has an average customer review rating of 1.3 stars on Trustpilot based on 1,405 customer reviews. Again, most reviews focus on the banking side of PNC, often mentioning customer service issues.

Consumer Affairs Rating Analysis

Wholesale Payments has an average customer review rating of 1.8 stars on Consumer Affairs based on 1,534 customer reviews. Common themes continue to focus on the banking side of the company.

Three-Year Contract

Based on a sample merchant agreement and the company’s program guide, PNC Merchant Services typically offers a three-year agreement through First Data (Firserv). This contract includes a Liquidated Damagesearly termination fee (ETF), which can exceed the standard First Data (Fiserv) fee of $495. Additionally, there’s an application fee of $195, a programming fee of $90, a setup cost up to $345, a statement fee of $5, and a monthly minimum fee ranging from $15 to $20. PNC Merchant Services has recently updated its pricing structure, now disclosed on its website. Swipe transactions incur a rate of 2.60% plus $0.10, while keyed-in transactions are charged a rate of 3.45% plus $0.15. It’s unclear if the company separately charges PCI Compliance fees, but setup, application, and programming fees may be reduced or waived. PNC also offers 48-month, non-cancellable equipment leases through First Data Global Leasing.

Virtual Terminal and Payment Gateway Pricing

As per the revised PNC Merchant Services pricing page, the company relies on the First Data (Fiserv)-backed Payeezy payment gateway for its virtual terminal service. Payeezy offers two plans: the Basic Plan and Pro Plan. Neither plan imposes setup, statement, or gateway fees. The Basic Plan charges a rate of 2.90% plus $0.30, while the Pro Plan offers a reduced rate of 1.89% plus $0.23 with a monthly fee of $19.95.

Industry-Average Pricing

PNC Merchant Services fees and rate structure are generally in line with industry standards, but its early termination fee can reach up to $900, significantly higher than industry averages. This fee is calculated at $25 per remaining month in the contract, potentially making it excessive. Consequently, we’ve rated the company lower compared to the cheapest merchant accounts. We recommend exploring our list of the best merchant accounts for alternative options.

In 2018, PNC Merchant Services faced a class-action lawsuit alleging over billing and misrepresentation of annual fees, a matter still pending resolution. Another significant lawsuit in 2017 accused the company of excessive fees and deceptive sales practices, which was settled in November 2021 for $14.5 million. Additionally, in May 2022, PNC Merchant Services was sued for failing to ensure website accessibility for the blind and visually impaired, an issue that remains unresolved.

Built-In Marketing Channels

PNC appears to utilize traditional advertising and its existing network of clients to market its merchant services. There is no indication at this time that the company employs independent sales agents. We are currently able to locate more than a dozen negative PNC Merchant Services reviews that accuse the company’s sales representatives of deceptive or aggressive sales practices, including nondisclosure or misrepresentation of service length, termination fees, and rates. This does not compare favorably to our list of best credit card processors. If you believe that PNC Merchant Services rates have been misrepresented to you, we recommend seeking a third-party statement audit to find and eliminate hidden fees.

No Deceptive Rates

To its credit, the company does not appear to list any deceptive rate quotes in its official advertising materials. However, at least one merchant has recently complained that PNC did not properly honor its rebate on an equipment purchase. Business owners should therefore be sure to read the fine print of any promotional offers, such as the $500 reward for switching to PNC on the company’s homepage.

PNC Merchant Services is currently rated as an average credit card processing provider. The company, which offers merchant services through First Data (Fiserv), has contract terms that tend to be more expensive than industry averages. There have been complaints concerning the company’s sales practices, which raises further concerns. Recent class-action lawsuits against PNC Merchant Services suggest that its reputation may soon suffer a significant blow.

Given these issues, businesses are more likely to secure better pricing and more dependable service by opting for a top-rated merchant account provider. As always, we encourage merchants to thoroughly review contract terms and compare them to the leading alternatives in order to make an informed decision that aligns with their specific processing needs.