9/25/19 Update: At the time of this update to our review on Security Card Services, the company’s website is no longer functioning. This may be indicative that the company is no longer in business. Merchants with any insight into the company’s current operational status are encouraged to leave their feedback in the comment section below this review.
Partnered Exclusively with Banks
Founded in 1996, Security Card Services is a merchant account provider that takes a unique approach to marketing its services. Rather than selling directly to business owners, the company builds partnerships with regional and community banks across the country in order to supply merchant services for those banks’ customers. As a result, it is unlikely that any merchant will deal directly with Security Card Services (SCS) unless that merchant signs up for merchant services through a local bank partnered with SCS. A merchant who signs up for an SCS account through his or her bank may deal with bank representatives, SCS representatives, or both, depending on the type of partnership established between SCS and the bank.
First Data CFI
BluePay acquired Security Card Services in August 2017, shortly before BluePay and its subsidiaries were acquired by First Data in December 2017. The acquiring partner portfolios of Security Card Services, BluePay, and CardConnect, were consolidated to form First Data Community Financial Institutions (First Data CFI). As a newly created division of First Data, First Data CFI specifically partners with community financial institutions to give customers streamlined payment solutions. It has yet to be seen if Security Card Services will retire its independent brand identity and eventually operate under the First Data CFI heading. An alert on its website notifies customers that Security Card Services “is now First Data CFI,” but it appears to be retaining its unique identity for the time being.
Security Card Services shares an address with a debt settlement company called “Security Credit Services” and is one of three businesses managed under the “Security Holdings LLC” brand. In 2014, Security Credit Services was forced to pay out more than $761,000 to consumers to compensate for phone payment fees that the FTC found to be deceptive. Two former executives of Security Card Services are also now the co-founders of Ironwood Payments.
Location and Ownership
SCS is headquartered at 2653 West Oxford Loop, Suite 108, Oxford, Mississippi 38655. William Alias is the principal for Security Holdings and, by extension, Security Card Services.
Security Card Services Review Table of Contents
- Costs & Contract: Security Card Services offers variable auto-renewing contract terms depending on each merchant’s business type and processing history.
- Complaints & Service: Security Card Services has received fewer than 10 public complaints.
- BBB Rating: Security Card Services has an “A+” rating with the Better Business Bureau and has received 1 complaint in the past three years.
- Sales & Marketing: Security Card Services does not appear to market directly to merchants and has received only a few complaints about its sales practices.
- Rates & Fees: How Merchants Got The Best Rates With Security Card Services