Select Merchant Solutions Review

Select Merchant Solutions Overview

Select Merchant Solutions, also known as Randall Merchant Solutions LLC, is a Florida-based merchant account provider founded in 2011. The company specializes in credit and debit card processing, POS systems, e-commerce solutions, and mobile payment acceptance. The company operates as a registered ISO/MSP of various banking partners.

Select Merchant Solutions is managed by Jeff Condello and Jim Neumann, who oversee the company’s operations and merchant services. The company serves small to mid-sized businesses across a range of industries, providing payment processing solutions and related merchant services.

Select Merchant Solutions Products

According to our review, Select Merchant Solutions offers the following payment processing products and services:

Credit and Debit Card Processing: The company provides standard credit and debit card acceptance services for both card-present and card-not-present transactions.

POS Systems: Select Merchant Solutions offers point-of-sale hardware and software solutions for brick-and-mortar businesses.

E-Commerce Solutions: The company provides e-commerce payment gateway services for online businesses seeking to accept payments through their websites.

Mobile Payment Acceptance: Select Merchant Solutions offers mobile payment processing solutions that allow merchants to accept payments on the go.

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.

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.

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.

No Known Legal Actions

We have not identified any significant lawsuits, regulatory actions, or legal complaints directly involving Select Merchant Solutions or its principals Jeff Condello and Jim Neumann at the time of this review. Merchants who believe they have been the victim of unfair business practices should consider filing a complaint with the relevant regulatory authorities or the Better Business Bureau.

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.

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.