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Retail Merchant Services is a European ISO of Atlanta, Georgia-based merchant account provider Elavon. Founded in 2007, RMS claims to provide retail, mobile, and e-commerce payment processing to over 27,000 merchants in the UK and Ireland. On February 28, 2017, it was announced that Retail Merchant Services had been acquired by capital market company TCV.
Retail Merchant Services Payment Processing
RMS offers payment processing on all major debit and credit cards for most types of businesses. For in-person payments, they offer Ingenico and Verifone card readers in portable, mobile, and countertop options, which include their EPOS terminal. For online payments, they offer e-commerce shops, their own payment gateway, and the ability to pay by email. They also offer integration with major digital wallets and 140+ currencies. They boast a product called SmartBridge for integrating different payment channels (such as online and in-person), and they offer a virtual terminal for payments over phone.
In addition to payment processing solutions, Retail Merchant Services offers point-of-sale (POS) systems that are designed to be user-friendly and efficient. These systems can be customized to meet the unique needs of any business and can include features such as inventory management, reporting, and customer relationship management.
For businesses that operate online, Retail Merchant Services provides e-commerce solutions that can help streamline the payment processing process. These solutions include online payment gateways, shopping cart integrations, and secure payment processing.
Merchant Cash Advance
Retail Merchant Services offers merchant cash advance services that allow businesses to access cash quickly and easily. This service provides businesses with a lump sum payment in exchange for a percentage of their future credit card sales.
Gift and Loyalty Programs
Retail Merchant Services offers gift and loyalty program solutions that can help businesses attract and retain customers. These programs can be customized to fit the unique needs of any business and can include features such as custom branding, mobile compatibility, and analytics reporting.
Location & Ownership
RMS’s headquarters can be found at Matrix House, North Fourth St, Milton Keynes, MK9 1NJ. Kevin O’Keefe is listed as the CEO of Retail Merchant Services.
Table of Contents
- Costs & Contract: Appears to offer a three-year contract with an early termination fee of…
- Complaints & Service: Complaints number more than 185 on…
- BBB Rating: Does not have a profile with…
- Sales & Marketing: Hires independent sales representatives and has…
Retail Merchant Services Reviews and Complaints
Here's What Their Clients Say
Total Online Complaints
Live Customer Support
Most Common Complaint
High Complaint Total
Given the company’s size and time in business, there are a high number of Retail Merchant Services complaints that accuse the company of being a scam or a ripoff. In the comment section below this review, we have received more than 160 Retail Merchant Services complaints related to undisclosed fees, higher-than-expected rates, expensive equipment leases, and poor customer service. Almost all of these Retail Merchant Services reviews refer to unexpected fees. Despite this, the company maintains a positive rating of 3.5 out of a possible 5 based on 6,309 reviews on Trust Pilot UK, a consumer reporting website. If you have your own Retail Merchant Services review to make, please do so below.
Other Complaint Details
On UK Business Forum, there are multiple threads devoted solely to discussing client issues with RMS. Most complainants who have received terminals through RMS mention the expensive cancellation and refurbishment fees associated with this equipment.
Retail Merchant Services Lawsuits and Fines
We have not found any outstanding class-action lawsuits or FTC complaints filed against Retail Merchant Services. Dissatisfied business owners who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations.
Retail Merchant Services Customer Support Options
RMS offers customer support by phone and support form, but reviews indicate that these channels are not especially helpful to merchants.
Retail Merchant Services Customer Service Numbers
- 01908 354 500 – Customer Service UK
- 01 485 4946 – Customer Service Ireland
- 01908359190 – Sales
RMS’s performance in this category has not earned it a place among our top-rated merchant accounts for great customer service.
Retail Merchant Services BBB Rating and Report
Our Better Business Bureau Profile Assessment
The BBB does not maintain a profile for Retail Merchant Services at this time. We will therefore not factor the BBB into this review.
Retail Merchant Services Fees and Rates
A Closer Look at the Contract
Don't Fall Into An Expensive Trap. See Who The Worst Processors Are.
Monthly & Annual Fees
According to multiple online reviewers, the standard RMS contract is a three-year agreement through Elavon with automatic renewal for one-year terms, a £180 early termination fee, a £96 terminal refurbishment fee upon cancellation, a variable monthly minimum fee, a PCI Compliance fee of up to £100 per year, and an attached non-cancellable, 36-month terminal lease. Client reviews convey rates of 2.65% + 19p for swiped transactions and 3.5% + 19p for those which are keyed in on top of monthly fees of at least £10. Cancellation of the terminal lease will result in RMS charging a business a Liquidated Damages fee that can total over £1,000.
Virtual Terminal and Payment Gateway Pricing
In addition to its storefront payment processing services, Retail Merchant Services also dedicates a portion of its website to advertising its virtual terminal and payment gateway services. However, pricing is not disclosed on either of those services. Additional rates and fees, including gateway fees, technical support fees, batch fees, and additional transaction rates typically apply to these e-commerce services.
Many Contract Complaints
Most public complaints filed against the company are related to unexpected or higher-than-expected fees. The Retail Merchant Service contract terms are not competitive in comparison to budget-friendly merchant account providers, but the fact that they are inconsistently disclosed according to business owners has lowered the company’s score to a “D.” We encourage businesses to check out our list of the providers of the best merchant accounts.
Retail Merchant Services Jobs and Employment
Hiring Standards and Ethical Marketing Assessment
Audit Your Current Statement To Find Its Hidden Fees
Processing statements are intentionally complicated so that they can overcharge you. Get clarity before you switch.
Uses Independent Resellers
Discloses All Important Terms
Outside Sales Team
Retail Merchant Services appears to market itself primarily through cold calling and independent sales representatives. The use of independent agents is commonly tied to high client complaint rates due to the fact that these agents are usually paid by commission and receive little oversight. RMS appears to be no exception, as there are numerous negative Retail Merchant Services reviews online that describe nondisclosure of contract terms, high-pressure sales tactics, and misleading claims by sales agents. The most common issues for business owners appear to be the company’s early termination fee and terminal rental fee, neither of which is consistently disclosed at the point of signing, according to complaints. This does not compare favorably to our list of best credit card processors.
No Deceptive Quotes
To its credit, the company does not promote misleading offers in its official materials, and the Retail Merchant Services rates appear clear. If you suspect that there are hidden Retail Merchant Services rates in your contract, you can hold them accountable with a third-party statement audit.
Retail Merchant Services Review Summary
Our Final Thoughts and Opinions
Retail Merchant Services rates poorly as a credit card processing provider due to complaints of expensive cancellation policies, deceptive sales practices, a high complaint rate, and poor customer service. Business owners who are approached by an RMS representative are encouraged to request and carefully read all documentation before signing and to negotiate out unsavory conditions wherever possible. Businesses are encouraged to compare RMS’s pricing to that offered by top-rated UK merchant account providers.
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