Select Merchant Solutions Review

Name: Select Merchants Solutions
Item: Select Merchants Solutions
Rating: 3.0
Author: Phillip Parker

By Phillip Parker

Last Updated: October 14, 2019

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Select Merchants Solutions Rating

3.0/5

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A Merchant Account Provider With its Own Formula

Founded in 2011, Select Merchant Solutions, also known as Randall Merchant Solutions, is a merchant account provider that offers an “all-in” rate, according to its website. The company defines this term as the percentage of a merchant’s fees divided by its total credit card sales. On average, the company advertises an “all-in” rate of 1.56%. Additionally, Select Merchant Services advertises a proprietary app that facilitates merchants’ transactions through their iPhones.

Location and Ownership

Select Merchant Solutions is headquartered at 150 W. Fulton St., Sanford, FL. The company does not disclose its acquiring bank. Ronald Park is listed as the company’s controller, while Jeff Condello is its managing member and Jim Neumann is a partner in the company.

Select Merchant Solutions Review Table of Contents

Costs & Contract: Select Merchant Solutions offers undisclosed contract terms.
Complaints & Service: Select Merchant Solutions has received fewer than 10 public complaints.
BBB Rating: Select Merchant Solutions has an “A-” and has received 0 complaints in the last 3 years. The company has been accredited by the Better Business Bureau since 2017.
Sales & Marketing: Select Merchant Solutions does not hire independent sales agents and has not received any complaints about its sales practices.
Rates & Fees: How Merchants Got The Best Rates With Select Merchant Solutions.

Select Merchants Solutions Customer Reviews

Here's What Their Clients Say

Key Points
Total Online Complaints	<10
Live Customer Support	Yes
Most Common Complaint	N/A

Clean Complaint Record

We are currently unable to locate any negative reviews about Select Merchant Solutions. There are no negative reviews of Randall’s Merchant Solutions either. However, the small scale of the size of the business as well as the lack of disclosure of its acquiring bank makes it difficult to assess the company’s performance.

Select Merchant Solutions Lawsuits

We have not found any outstanding class-action lawsuits or FTC complaints filed against Select Merchant Solutions. Dissatisfied merchants who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations.

Select Merchant Solutions Customer Support Options

Select Merchant Services provides a phone number and automated form on the contact section of its website. However, only its phone number is dedicated to customer support. Merchants are provided 24/7 phone support. Additionally, each merchant is also afforded a personalized account representative. However, merchant account providers with a great track record of customer service typically offer more comprehensive support options.

No Red Flags

Though there is no evidence to suggest that merchants have had negative experiences with the company. However, the dearth of information on the company, including the acquiring bank it utilizes is a point of confusion. Additionally, the lack of clear, comprehensive customer support channels other than 24/7 phone support is the basis for the company getting a “B” rating in this category.

Select Merchants Solutions Online Ratings

Here's How They Rate Online

Online Ratings Summary
Product & Service Complaints	0
Billing & Collection Complaints	0
Advertising & Sales Complaints	0
Guarantee & Warranty Complaints	0
Delivery Complaints	0

Low Complaint Volume

Select Merchant Services has been accredited with the Better Business Bureau since 2017. As of this review, the company has an “A+” rating with the BBB and has had 0 complaints filed against it in the last 36 months. The company has received 2 informal reviews, both of which are positive in tone. However, it should be noted that these reviews are not subject to verification by the BBB.

An “A” Performance Overall

In keeping with our policy that “A” ratings should typically be reserved for companies with 0 complaints. As such, we agree with the BBB’s rating at this time.

Select Merchants Solutions Fees, Rates & Costs

A Closer Look at The Contract

Key Points
Swipe Rate	1.19% - 4.99%
Keyed-in Rate	1.00% - 4.99%
Virtual Terminal Rate	1.00% - 4.99%
Payment Gateway Fee	Undisclosed
Early Termination Fee	Undisclosed
PCi Compliance Fee	Undisclosed
Equipment Lease Terms	N/A

A Convoluted Pricing Structure

The standard contract terms for Select Merchant Solutions are not readily available online. The only insight that the company offers into its costs is an approximation of what the average rate its merchants pay in respect to their overall fees as a percentage of their credit card sales. Additionally, the company states that its swipe rates begin at 1.19%. The company does not disclose important information such as its acquiring bank, length of its contracts, whether or not it resells the services of other merchant accounts, or relevant fees for early termination, PCI compliance, or monthly minimums for transaction fees.

The company apparently runs its processing through a proprietary iPhone-based app. The absence of any other payment processing terminals on its website makes it unlikely that the company includes long term, non-cancelable equipment leases as part of its services.

Virtual Terminal and Payment Gateway Pricing

In addition to its storefront payment processing services, Select Merchants Solutions also dedicates a portion of its website that advertises its virtual terminal and payment gateway services. Additional rates and fees, including gateway fees, technical support fees, batch fees, and additional transaction rates typically apply to these e-commerce services.

A “C” Overall

Given the lack of access to Paymetric rates and fees, it is difficult to evaluate the company in this category. Going off of WorldPay’s standard contact and knowing that merchants choosing Paymetric will not incur costs like equipment leases, we give the company a slightly better grade than WorldPay. Paymetric receives a “C” in this category.

Select Merchants Solutions Employee Reviews & Sales Tacitcs

Should You Work For Them?

Key Points
Employs Independent Resellers	No
Advertises Deceptive Rates	No
Discloses All Important Terms	No

Select Merchant Solutions Sales Tactics

Select Merchant Solutions does not appear to hire independently contracted sales agents to market its services. This is a common hiring practice within the credit card processing industry that often results in a sales team composed of poorly trained or unregulated agents. The company choosing not to employ this tactic is a positive reflection on its sales practices

The company’s website advertises a free rate analysis for merchants considering its services. According to the Select Merchant Solutions, 48% of its clients experience “continued savings.” However, it is unclear how the company backs that claim up. According to its website, savingd are determined by a its “all-in rate” metric, which is calculated by dividing gross fees by credit card sales. On that basis, it is unclear how transaction fees from debit purchases are factored into their claims.

No Misleading Quotes

To its credit, Select Merchant Solutions does not appear to list deceptive rate quotes in its official materials. However, the company does not provide any prospective rates in industry-standard terms either, nor does the company provide a readily accessible merchant agreement or pricing schedule. Furthermore, the company does not disclose its acquiring bank. Given the lack of insight the company offers into its pricing structure and acquiring bank, we award it an average grade of a “C” in this category.

If you suspect that Select Merchant Services is charging you undisclosed fees, we recommend seeking a third-party statement audit to find and eliminate hidden charges.

Our Select Merchants Solutions Review Summary

Our Final Thoughts

A Possibility For Merchants Experiencing High Fees

Select Merchant Solutions references to pricing based on its “all-in” rate make it difficult to gauge how it fits most merchants needs. The company’s rate analysis service does provide the possibility of relief for merchants already experiencing higher than average rates and fees. Furthermore, from a hardware perspective, the lack of equipment such as POS systems and payment processing terminals may make it unrealistic for merchants such as high volume retailers or restaurants. However, the lack of disclosure regarding its rate and fee structure makes it difficult to assess its viability at face value. For merchants looking to lower their expenses, or those relying predominantly on mobile payments, Select Merchant Services may be worth exploring.

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About The Author

Phillip Parker

Phillip Parker is an independent card payment expert specializing U.S. and Canadian point-of-sale, e-commerce, and mobile payment acceptance. He has nearly two decades of experience in credit card processing as a journalist and consultant. Phillip is the creator of this website and has written over 1,500 articles covering numerous payment acceptance topics. He has also published critical reviews about most merchant services providers currently in operation.

Expert Guidance

Phillip has consulted businesses of all sizes from mom-and-pop shops processing $10K per month to enterprise level organizations processing in excess of $300MM annually. His specialties include:

– Merchant Account Statement Auditing
– Rate & Fee Negotiation
– Processor & POS Selection
– Software Integrations
– Risk Assessment
– Fraud Prevention
– General Processing Advice

Schedule a Consultation Here

Phillip’s Top Picks

Phillip has researched and reviewed over 1,000 merchant services providers over the last 15 years. He also owns multiple businesses that accept credit card payments. If you are looking for an ethical credit card processor that doesn’t hide fees or lock you into expensive contracts, see Phillip’s merchant account picks here.

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In addition his contributions on CPO, Phillip has also been quoted in several major publications such as The Los Angeles Times, INC Magazine, Miami Herald, Computer World, and numerous others. If you would like to interview Phillip for your story or podcast, please reach out here.

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