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Is Quantum Merchant Services Reliable? Rates, Complaints & Facts

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All mentions of rate and fee costs are estimations based on publicly available information and client feedback. Actual costs may vary based on a variety of factors unique to your business.

Quantum Merchant Services

Rating
C
3/5
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Pros and Cons of Quantum Merchant Services

Pros

Quick, easy use
Secure transactions
Mobile payment option

Cons

Limited Online Presence
Potential Hidden Fees
Long term contracts
Equipment Costs
Service Limitations

Overview

In this review of Quantum Merchant Services, we take a detailed look at their offerings, including resold First Data (now Fiserv) contracts, Clover POS solutions, and support for modern payment methods like Apple Pay. Our analysis covers rates, fees, contract terms, and common complaints, while also considering industry ratings, employee reviews, and marketing tactics. We highlight user experiences with their POS systems, online processing, mobile payments, and other merchant services to show how the company operates in practice. The review also examines their fee structures, customer support, legal issues, and overall reputation, presenting the pros and cons in a balanced way to help businesses decide whether Quantum Merchant Services is the right fit for their payment processing needs.

About Quantum Merchant Services

Screen Capture of Quantum Merchant Services Homepage
Quantum Merchant Services Homepage

A DBA of Universal Power Marketing, LLC, Quantum Merchant Services is a merchant account company that began operations in 1994, and it resells standard First Data (now Fiserv)  contracts along with Clover as a POS solution. Additionally, the company advertises its Apple Pay integration services.

Products & Merchant Services

Payment Processing

Quantum Merchant Services handles payment processing for all major debit and credit cards across various business types. Their offerings include POS solutions, EMV card readers and swipers, mobile payments, mail order/telephone order (MOTO) payments, and e-commerce solutions.

Point of Sale Systems

Quantum Merchant Services provides point-of-sale (POS) systems designed for businesses to manage transactions in physical retail environments.

Online Payment Processing

Quantum Merchant Services offers online payment processing designed to integrate with digital storefronts.

Mobile Payment Solutions

The mobile payment solutions from Quantum Merchant Services enable businesses to accept payments via mobile devices. This service provides flexibility for processing transactions in various locations and scenarios.

Additional Merchant Services

Beyond payment processing, Quantum Merchant Services offers other merchant services such as check processing, gift and loyalty card programs, and merchant cash advances.

Customer Reviews & Sentiment

Low Overall Complaint Total

We have identified a few negative reviews of Quantum Merchant Services on various consumer protection forums, with some customers alleging the company as a ripoff. Complaints mainly revolve around hidden fees, undisclosed terms, and subpar service quality. If you have your own feedback on Quantum Merchant Services, please share it in the comments below.

Quantum Merchant Services Customer Support Options

Quantum’s website does not appear to have a dedicated support line or email address listed, although a general phone number is provided. The limited number of complaints against this company suggests a responsive customer service department, but it is possible that customer support may be handled by First Data (Fiserv), potentially leading to the bulk of complaints being directed at First Data rather than Quantum.

Industry Scores & User Ratings

Online Ratings Summary
PaymentPop2.3
BBB Rating5
Google Maps4.8
Average Rating4.9

PaymentPop Rating for Quantum Merchant Services

Negative Feedback

Agent Justin Ndiaye ripped me and my family off of thousands of dollars in “hidden fees” for credit card processing. I did research on him his real name is Moctar Ndiaye from Tampa. If you look him up on mugshots.com he has a lengthy arrest record from Grand theft to shoplifting. He’s a criminal, he should not be working with merchants with this kind of criminal history. Google Justin Ndiaye Tampa and you’ll see they have put him in the newspaper for defrauding a 75 year old elderly woman. Theif, what he has done to my business is completely out of line.

Positive Feedback

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

Quantum Merchant Services BBB Rating

Quantum Merchant Services has an “A+” rating and has been accredited by the Better Business Bureau since 2001. The company has received 0 complaints in the last 36 months. Quantum Merchant Services has a 5 out of 5 star rating based on 7 user reviews on the Better Business Bureau website.

What Merchants Say

Quantum Merchant Services has received 19 informal reviews, and all 19 are positive, but it should be noted that the BBB does not verify informal reviews for authenticity like it does with complaints. A previous negative review was from a merchant who described shady practices used by a Quantum representative:

One of Quantum’s reps signed us up. Then a few months down the line, the machine was not working correctly and we asked for a replacement. The same rep came back and switched the machine out but unbeknownst to us, he signed us up with another company he was also working with. Joshua Rudrud called us from Quantum and let us know what their rep was doing and sure enough the machine that he switched it to was from another provider. They encouraged us to call the police and file a complaint against the rep. The other company let us out of the contract with no fees due to all of this however Quantum refuses to let us out of the contract with no fees. We explained that we do not trust them as a provider as our security and that of our customers was compromised by using the said rep, as he forged paperwork and we were being double charged. Joshua was not responding back to my emails about charges and then when I called to request to be let out of the contract with no fees he said they would continue charging us monthly unless we want to break the contract and pay the fees. We should not have to go to these lengths to be let out of a contract with such a situation happening. I wouldn’t trust doing business with this company.

In a similar manner to the previously mentioned conversation with owner/CEO Rob Olson, there is a response from Quantum to this review and a further response from the client, which we’ve listed below:

Quantum:

This INDEPENDENT agent hadn’t worked for our company for over two years when he went back in and signed them up with his new company. This merchant was attempting to get out of their signed contract. We were not able to pay their fees for them so they retaliated with this complaint against our company for what a FORMER agent (who they admitted was working for a different company) had done. This is an unfair complaint against us complaining about someone unrelated to our business.

Merchant:

This is untrue and quite insulting that the CEO Rob ***** would go to these lengths to write this response knowingly that it is indeed very true. This is a fair and factual review and we have everything document indicating that this person was indeed one of their contracted employees at the time. As a matter of fact they were the ones that brought it to our attention when they discovered he was doing that to several of their customers. Rob ***** the CEO of the company reached out to us a couple of weeks ago asking to let us out of the contract with no fees as he stated that he wasn’t aware that we had asked to be let out of our contract. After we advised we would think about it, discuss it with the owner and get back with him, he requested that he would also like us to delete this negative review and “if we found it in our heart” to give him a 5 star review since he was being so nice letting us out of our contract. We again advised we would discuss and let him know. In the meantime he kept calling us repeatedly even though we were very forthcoming that we hadn’t gotten around to this and the least he could do was to be patient, when he didn’t reach out to us for 8 months until it was convenient for him due to this potential customer walking away. Since we didn’t get a chance to delete this review as the owner of our company was away, he retaliated by writing a false review about our company and giving us a 1 star rating, when he is in another state and has never been a customer of ours or even stepped a foot in our establishment. Please feel free to go to our profile to see his 1 star review. You will also see that the only reason he is responding to this stating we are “retaliating” is simply because we said that’s what he was doing on our response to his review. At this point we cannot recommend this company even more after these recent events. We have reached out to the BBB to start a formal complaint against them. We are currently awaiting to hear back on what the process is not renew with them in February of 2021.

Clover’s POS options offer a multitude of solutions for businesses. However, these terminals often enforce terms and conditions that may not be necessary for a client’s needs.

Adjusted Rating

Given Quantum Merchant Services’ low complaint total, we would normally award them an “A” in this section; however, the one negative review is particularly troubling and in line with previous reports about owner/CEO Rob Olson. While responding to complaints is important, the behavior listed in this review is very concerning, so we have adjusted the BBB’s rating to a “B” at this time.

Google Maps Rating for Quantum Merchant Services

Quantum Merchant Services has a 4.8 out of 5 star rating based on 22 user reviews on Google Maps.

Positive Feedback

These guys were great! Unlike most POS companies, they didn’t play games. They gave me their best rate that was better than anyone else. They were very easy to work with, and very friendly. I definitely recommend them.

Processing Rates & Fees

Higher-Than-Average Costs

Based on the company’s merchant agreement, the standard contract offered by Quantum Merchant Services spans three years with a $445 early termination fee, a $159 setup fee, a $99 annual fee, a monthly minimum fee of $25, and a $10 statement fee. Although these terms are slightly pricier than industry averages, there might be room for negotiation depending on the agent setting up the account.

While the company’s merchant agreement does not specify sales rates, it indicates that they would be determined by each company’s sales volume. As a reseller of First Data (Fiserv), Quantum Merchant Services likely offers rates based on theirs. Under a typical First Data (Fiserv) contract, rates fluctuate according to a business’ sales volume. Merchants processing up to $50,000 monthly will incur a swiped rate of 2.69% plus $0.19 and a keyed-in rate of 3.69% plus $0.19. For clients surpassing $50,000 in monthly charges, a swiped rate of 2.29% plus $0.19 and a keyed-in rate of 3.29% plus $0.19 apply.

Virtual Terminal and Payment Gateway Pricing

Apart from its in-store payment processing services, Quantum Merchant Services also showcases its virtual terminal and payment gateway services on its website. However, pricing for these services is not disclosed. The merchant agreement mentions a website setup fee of $799 and a $35 monthly domain hosting fee, which could pertain to a newly established virtual terminal service. Additionally, additional rates and fees, such as gateway fees, technical support fees, batch fees, and extra transaction rates, usually apply to these e-commerce services.

Beware Equipment Leases

There are indications that Quantum offers long-term, non-cancellable equipment leases from First Data Global Leasing and Northern Leasing Systems, two of the lowest-rated providers on CPO. Businesses are advised to only work with agents they trust and to thoroughly comprehend all potential fees before signing up.

We also encourage business owners to explore our list of the best merchant services.

Lawsuits & Legal History

No significant class-action lawsuits or FTC complaints have been found against Quantum Merchant Services. Clients seeking non-litigious resolutions with the company are advised to consider reporting any concerns to the relevant supervisory organizations.

Employee Reviews & Sales Practices

Potential Deception

Quantum seems to rely on traditional marketing to market its services, and it appears that the company hires independent sales agents across the country. There are a few negative Quantum Merchant Services reviews online that describe misrepresentation or nondisclosure by the company’s agents, specifically in relation to long-term, non-cancellable equipment lease terms through First Data Global Leasing.

This does not compare favorably to our list of best credit card processors.

A Detailed Sales Complaint

One of the most recent Quantum Merchant Services complaints details the nondisclosure of fees by the CEO:

The President lied about the costs, upfront fees and promised free point-of-sale equipment. When we did not open a Merchant Account with Quantum, he charged our business $445

I asked him more than once, “So these are all the charges we will be paying?”. “So you have no monthly add-on fees?”

When I told Rob Olson, who represented himself as the President of Quantum, I expressed my concern that there were fees that he did not disclose to me. His response was: “there was a lot of things that I didn’t tell you”

Later he explained in an email to me: “Our industry is VERY complex. I can’t explain EVERYTHING we have to offer or you fall asleep listening to it. ”

This was his excuse for not disclosing the fees.

As far as equipment, he promised two free card swipers and then, later on, was only willing to send one.

I am so happy that I caught his empty promises before opening an account. Be careful. He will charge your account anyway! $445.00

While Quantum Merchant Services reviews do not lead us to believe that the company’s services are a scam, transparency should be an important factor when selecting a merchant account.

Few Concerns

At the time of a previous update, the company’s website was displaying rate quotes that we considered to be deceptive “teaser” quotes, but it has since removed these. We are therefore awarding the company a “B” for this section, but if you suspect that you are being charged undisclosed Quantum Merchant Services fees, we recommend seeking a third-party statement audit to find and eliminate hidden charges.

Quantum Merchant Services Competitors

Compare Quantum Merchant Services to competitors that earned top marks.

Bottom Line

Quantum Merchant Services, operating as a reseller of First Data (now Fiserv) credit card processing solutions, manages to maintain a relatively low complaint rate among its user base. This suggests a level of service that partially satisfies its clientele. However, it is important to note that the company’s pricing structure is deemed slightly more expensive than the industry average. This aspect could influence potential clients who are sensitive to cost considerations in their decision-making process.

The customer support offered by Quantum is likely facilitated through First Data’s infrastructure. While this might ensure a certain standard of service, given First Data’s extensive experience and resources, it could also mean that personalized support specific to Quantum’s offerings might be less accessible. Clients might experience a generic service approach rather than support tailored to the unique features of Quantum’s contracts.

For business owners considering Quantum Merchant Services, it is advisable to undertake a thorough review of any contract terms presented. Comparing these terms with those offered by top-rated providers in the industry is crucial. This comparison should not only focus on pricing but also on service specifics, contract flexibility, and the quality of customer support.

Read Actual User Reviews

All user reviews have been moved to our partner, PaymentPop.com

Contact Quantum Merchant Services

Contact & Customer Support
Owner and CEORob Olson
Headquarters7250 Hudson Blvd N. Suite 210, Oakdale, MN
Toll-Free Customer Support(800) 815-3123
Websitequantumgo.com
Other Support OptionLive chat
Websitequantumgo.com