Prodigy Payment Systems (prodigypay.com) is an alternate business name of Encore Payment Systems. The company is based out of Addison, Texas, and was founded in 2004. Prodigy Payment’s overall rating is based on our Encore Payment Systems review. Along with Momentum Payment Systems, Prodigy Payment Systems appears to have been created for the sole purpose of absorbing complaints that would otherwise have been filed against Encore Payments Systems. The services offered by these three entities do no appear to vary in any significant way, and they are all headquartered at the same address.
Prodigy Payment Systems Products and Services
- Debit and credit card processing
- Check conversion
- Wireless processing
- EBT acceptance
- Gift and loyalty programs
Sales & Marketing
This section is covered in the Encore Payment review.
- Ethically questionable marketing
- Use of multiple business names
- “Hiring mill” recruiting strategy of Independent Sales Agents (ISAs)
- 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
Prodigy Payment Systems Marketing Example
Costs & Contract
Prodigy 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.
- 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 four-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
Complaints & Service
This section is covered in the Encore Review.
- Company has received a moderate-to-high number of complaints for its size and 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.
Note: We have adjusted this company’s BBB rating according to our own standards. To better understand why we adjust BBB ratings, please see our Rating Criteria.
Prodigy Payment Systems has its own Better Business Bureau report despite merely being an extension of Encore Payment Systems. As of this review, the company is not accredited with the BBB and has a “A” rating. The BBB is reporting 57 complaints filed in the last 36 months (down from 65 as of our last review); however, there are over 180 complaints filed against the company when combining all of its known DBAs together. Please see the Encore Payment Systems review for full details on this company’s BBB complaints. Based on the complaint count and resolution ratio, we are adjusting its rating to a “D” for the purposes of this review. You can learn more about why we adjust BBB ratings in our rating criteria.
Related: EMV Terminal Recommendations
About Phillip Parker
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
Related: Phillip’s Top All-Purpose Merchant Account Picks
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