First Data Reseller
Founded in 2009, Redstone Payment Solutions is a merchant account provider serving most standard risk business types. Redstone appears to be a reseller of First Data‘s merchant services. The company also advertises Clover as a POS solution.
Headquartered in Houston, Texas
The company is headquartered at 10406 Lake Rd., Suite 200, Houston, Texas 77070. Redstone Payment Solutions, LLC, is a registered ISO/MSP of Wells Fargo Bank, N.A., Concord, California. Larry Petru is listed as the president and CEO of Redstone Payment Solutions.
Redstone Payment Solutions Review Table of Contents
- Costs & Contract: Redstone Payment Solutions offers a three-year contract with a liquidated damages early termination fee.
- Complaints & Service: Redstone Payment Solutions has received more than 30 public complaints.
- BBB Rating: Redstone Payment Solutions has an “A+” rating with the Better Business Bureau and has received 2 complaints and 3 reviews in the past 3 years.
- Sales & Marketing: Redstone Payment Solutions appears to hire independent sales representatives and has received some complaints about its sales practices.
- Rates & Fees: How Merchants Got The Best Rates With Redstone Payment Solutions
This company is ripping off small business’s. I just paid a garage for fixing my car over the phone with my bank card and was told that there is a fee. I’m thinking an ATM type fee. NO! the fee was $104.00!!! Apparently the fee is 3.78% of the bill which they charged me. The garage explained to me that since they are a small business they cannot afford to eat the fee.
Needless to say I have worked things out with the garage and unfortunately they have lost my business.
How is a small business supposed to survive like that!
Great rates and customer service. Good overall experience compared to other processing companies.
Hi Kim,
Please reply to this comment with your business name and location in order to authenticate your testimonial. Thanks!
Should’ve stayed with our other charge card service.
The salesman on the phone quoted a fantastic rate. I told him I would be selling the business in about a year. I knew the buyer had their own vendors and likely wouldn’t need my merchant credit card processing provider. I expressed that objection to the Redstone salesman, saying I didn’t want to pay any cancellation or early termination fees because of this, so we probably shouldn’t sign up with a new provider (Redstone). The Redstone salesman told me that would be no problem; I wouldn’t have to worry about any termination fees.
About two months ago, after a heated conversation about their promises, they cut us off, and we couldn’t do any charges. Now, they want $4000.00 in fees. They are telling me to pay or they’ll destroy my credit rating. I deeply regret having any relationship with Redstone. I’m old and trying to retire. I’ve worked very hard for anything I have. Redstone doesn’t keep their word. I don’t recommend them and if I had it to do over, I wouldn’t have anything to do with them. If I could give them fewer stars, I would.
One of the worst processing companies out there. How this website gave them 3 out of 4 stars is beyond me. They have a $4,000 cancellation fee. They have rates that are over 4%. Stay far far away from this company.
Wow….Redstone has taken a lot of money from people…including me!!! In order to talk to anyone on the phone you have to go through numerous telephone prompts to push 1 for…. Push 2 for… And so on and so on. When you do finally get to talk to someone they are extremely rude and want to talk over you the entire time you are trying to discuss your complaint with them!! I’m not one to write a negative review but I have nothing good to same about this company!!! I called them to discuss an early cancellation of my contract and they said it would be almost $1700.00. They also said I would have to send in a written letter of cancellation. Just a few days after this conversation they decided just to withdraw the money from my account without me even knowing. I would not recommend them to anyone!!!
My account was also slammed by Redstone for $ 1,656.00. I was not able to contact Customer Service for problems with my machine. I made 30-40 calls with the same response and being rerouted to the beginning of the recording every time. I finally made contact (via email) and did receive a call back. I ONLY wanted to inquire about the termination process and was threatened by them. Redstone reps are extremely rude – just plain nasty!! I was told if I terminated service they would charge me $ 1,656.00. At NO TIME did say, indicate, tell them to discontinue service. As a matter of fact I told them I did NOT want to discontinue service, but Redstone (behind my back & without my authorization) slammed my account for
$ 1,656.00 and “THEY” discontinued their service with me. If anyone calls or mentions Redstone Payment Solutions don’t walk away…..RUN!!! Take my advise – use any other processor than this one.
likes to spam callers. if they’re already doing that, how are they like when they have you as a customer? avoid.
after being with them for 3 1/2 years when I went to cancel the auto renew puts you in a contract perpetually so you have to pay a fee. $500 for 8 months of contract I am not using. The variable rates for charges are impossible to keep up with or argue. So glad Paypal & Square are showing what credit card processing fees SHOULD look like. All these behind the scenes fees should be an embarrassment to credit card companies. Good riddance
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Why?? Why would anyone do business with this company?!? I do believe the testimonies above regarding good service and such. However, it is so very clear that these guys would never fully disclose their early cancellation fee or NO ONE would sign up! We cancelled four months shy of our agreed upon term and we were charged an early termination fee of $2,600.00!! Seriously? This is clearly a good reason to not sigh up with Redstone. You never know what might happen and if you go out of business, or get a significantly lower rate and cancel with them, they put it to you. When they (or any other processor) tells you the cancellation is $495.00 simply ask them to show you in writing and to explain any other “stipulation” that could cost you more at cancellation. There are just to many otherprocessors out there who have a great product, service and no cancellation fee to mess with these guys.
Are you kidding me? Fine print there as so many unknowns that they hide. If your not a scientist in the way this works they rip you off
My business has used Redstone Payment Solutions for years and we have always received consistently stellar customer service. Every department from their technical support team to their merchant funding program has been practically effortless to work with. We get regular solicitations from other processors promising to save us money. I have used several processors in the past and the customer service has usually been a nightmare until we switched to RPS. I have absolutely no intention to ever switch again!
Higher rates than competitors prompted me to contact Redstone. They reduced my rates but not enough to make a difference. Then I received a letter telling me my rates would be going up and if I disagreed that I could terminate their service contract. I got what I hope is a better company but Redstone won’t let go. Rude, aggressive acct manager has called me several times because I let them charge me the minimum of $40. Now they have charged my acct $700 for acct closure. This is a low class company with low class tactics.