SilverEdge Review

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7/2/2019 Update: According to the company’s BBB profile, SilverEdge is no longer in business. All current information reflects information available as of July, 2019. Moving forward, will no longer update this review.

Payment Processing for the Retail and Service Industries

SilverEdge ( is a Loveland, Colorado-based merchant account provider that specializes in point-of-sale solutions for small to medium-sized businesses. The company has been active since 2007 and is a reseller of First Data products and services, specifically Clover POS. SilverEdge specifically markets retail merchant accounts, restaurant merchant accounts, and e-commerce merchant accounts as its primary areas of expertise.

A Madwire Company

In 2018, SilverEdge was acquired by Madwire, a digital marketing company. SilverEdge now functions as a product offered in conjunction with Madwire’s Marketing360 online marketing platform. SilverEdge is a registered ISO/MSP of Wells Fargo Bank, N.A., Concord, California, and is headquartered at 4065 St. Cloud Drive Loveland, Colorado 80538. Ken Salazar is the president and CEO of SilverEdge.

SilverEdge Review Table of Contents

  • Costs & Contract: SilverEdge appears to offer a multi-year contract and equipment lease through First Data with an early termination fee of $495.
  • Complaints & Service: SilverEdge has received more than 20 public complaints.
  • BBB Rating: SilverEdge does not currently have a rating with the Better Business Bureau but has received 8 complaints and 15 reviews in the past three years.
  • Sales & Marketing: SilverEdge appears to hire independently contracted agents and has received some complaints about its sales team.
  • Rates & Fees: How Merchants Got The Best Rates With SilverEdge

SilverEdge Customer Reviews

Here's What Their Clients Say

Customer Reviews Summary
Item Result
Total Online Complaints 20+
Live Customer Support Yes
Most Common Complaint Equipment Lease Terms

Rising Complaint Total

We have found more than 20 negative SilverEdge reviews, and some of these complaints accuse the company of being a ripoff or a scam. The primary issues cited by complainants include excessive or persistent sales calls, undisclosed termination fees, undisclosed lease terms, poor technical support, and unreachable customer service. The overall number of complaints has risen steadily over time, which suggests that SilverEdge has not adapted its policies to address the most commonly cited issues.

SilverEdge Lawsuits

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

SilverEdge Customer Support Options

It is unclear whether SilverEdge’s rising complaint total stems primarily from independent sales agents or from SilverEdge’s in-house sales and support team. Nevertheless, it is our policy to hold a company accountable for the conduct of all of its representatives. SilverEdge does offer 24/7 phone support in addition to email support, which is a level of availability that we expect from the best customer service merchant accounts.

SilverEdge Online Ratings

Here's How They Rate Online

Online Ratings Summary
Item Result
Product & Service Complaints 6
Billing & Collection Complaints 1
Advertising & Sales Complaints 1
Guarantee & Warranty Complaints 0
Delivery Complaints 0

Note: We have adjusted this company’s BBB rating according to our own standards. To better understand why we adjust BBB ratings, please see our Rating Criteria.

No Rating Assigned

SilverEdge no longer has a rating nor accreditation with the Better Business Bureau. The BBB reports the company as being out of business, but it may be that SilverEdge’s acquisition by Madwire has affected the BBB’s reporting of the company. In any case, SilverEdge has received 8 complaints to its BBB profile in the past three years, with 6 due to product or service problems, 1 related to a billing dispute, and 1 having to do with advertising or sales. 4 complaints were successfully resolved, while the remaining 4 either were resolved to the dissatisfaction of the complainant or did not receive a final response from the complainant.

What Merchants Say

SilverEdge has also received 15 informal reviews on its BBB profile. 13 reviews were positive while only 2 were negative. It should be noted that these reviews are not subject to authentication by the BBB. The most recent negative review mentions frustration with an expensive equipment lease:

They tied me into a $847.00 per month lease for a p.o.s system that doesn’t work. I’ve been paying for over a year. They lied about the functions of the system, doesn’t do what they promised. I was closed for 3/4 of a day for the install. They hired a sub contractor to install. He installed it and ran into glitches right way. Installer contacted them to resolve, They didn’t respond for over 6 hours. We were forced to remove their system and reinstall my old one so I could reopen my business. We have been in business for 51 years, Silver edge is by far the worst company we have ever dealt with in over 50 years doing business. I’m out thousand’s of dollars for a p.o.s system that sits on the shelf. Stay Away!!!!!!!!!!

This merchant would likely benefit from taking steps to cancel their merchant account without paying a cancellation fee.

A “B” Performance Overall

Given the company’s complaint total and resolution ratio, we have adjusted the BBB’s lack of a rating to a “B” grade according to our rating criteria.

SilverEdge Fees, Rates & Costs

A Closer Look at The Contract

Cost & Fees Summary
Item Result
Swiped Rate 1.00% - 4.99%
Keyed-in Rate 1.00% - 4.99%
Early Termination Fee $495 - $8,000+
PCI Compliance Fee Undisclosed
Equipment Lease Costs $80 Per Month
Equipment Lease Terms 48-month (locked)

Multiple Years, $495 Termination Fee

There is very little publicly available information about the standard SilverEdge contract at this time. According to merchant complaints, the company’s basic agreement is a multi-year contract through First Data with an early termination fee of up to $495. SilverEdge advertises that it offers interchange-plus pricing but does not disclose its specific per-transaction markup.

Long-Term Equipment Leases

Complainants also state that some of the company’s sales agents sell 48-month, non-cancellable equipment leases as part of their merchant account contracts, likely through First Data Global Leasing. Two complaints cite a monthly lease cost of $80, which will far exceed the purchase price of the equipment if paid over four years. Others claim that it would cost them more than $8,000 or $10,000 to cancel their lease agreements. A few merchants also complain about higher-than-expected rates, with more than one merchant claiming to pay a 4% or higher effective rate.

Average Pricing for the Industry

There are no specific complaints about SilverEdge’s PCI compliance fees, monthly minimum fees, statement fees, or other fees, but it is likely that the company charges some or all of these fees. In general, SilverEdge has received a low-to-moderate number of complaints about its contract terms. However, the complaints that we have found suggest that the company’s standard contract is about average for the industry, far below the standard set by the cheapest merchant account providers.

SilverEdge Employee Reviews & Sales Tacitcs

Should You Work For Them?

Jobs & Marketing Summary
Item Result
Employs Independent Resellers Yes
Advertises Deceptive Rates No
Discloses All Important Terms No

Telemarketing and Independent Agents

SilverEdge appears to utilize telemarketing, independent sales agents, and referral partnerships to market its products. The combination of telemarketing and independent sales agents typically generates complaints within the credit card processing industry, and SilverEdge appears to be no exception. We are currently able to locate more than a dozen SiverEdge complaints that describe excessive and persistent sales calls and nondisclosure or misrepresentation by sales agents. Merchants specifically claim to be unaware of the company’s early termination fee and equipment lease terms before signing up for service.

Grill Your Agent

It appears that the company’s rates, fees, and contract terms could receive varying levels of disclosure depending on which sales agent is involved. Merchants should therefore be sure to work with someone they trust and inquire about all potential costs. SilverEdge’s overall sales complaint total has remained low-to-moderate for a company of its size, but the content of these complaints has lowered the company’s score to a “B” in this section. If you suspect that SilverEdge is charging you undisclosed fees, we recommend seeking an independent statement audit to find and eliminate fees from your contract.

Our SilverEdge Review Summary

Our Final Thoughts

An Average Option for Most Businesses

SilverEdge rates as an average merchant services provider according to all available information. The company has a low-to-moderate complaint total for an organization that has been operating since 2007, but the available complaints suggest that SilverEdge’s sales tactics and pricing are about standard for the industry. SilverEdge’s overall grade has remained constant since our last review due to a steady increase in complaints, but it will continue to fall if this trend worsens. For now, merchants will likely find better value from a top-rated merchant account provider.

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Your Comments & Reviews

How Did SilverEdge Treat You?

6 Responses

  • Michael Suttmiller II

    Giving the fact my client used Silver Edge we still after 6 months are not operational.

  • irene Hernandez

    I been a business owner for 7 years and I never had any issues with anyone. Someone called me from Silveredge and convinced me to start using them. I signed with them August 2016 today is August 2017 and I still never have been able to use it. their technical support is completely unprofessional and do not know what they are doing. I have been paying for 2 merchant services for almost a year. They are unethical and what ever they promise you is not true. It’s been a horrible experience and they are just taking money from us. When I reached out to them they did not care to make the situation better. I have to pay $1000’s of dollars for a service I was never able to use because NO ONE was able to get us started. I was told they had the best technical support and a prompt response. totally not true. no one would call me back and no one knew what they were doing. also incredibly disrespectful and degrading. Please forgive my grammar as English is my second language

  • Marcus Marchegger

    I am a fool. Trusted the sales person and signed an ” Application” that turned out to be a contract that lasted for 5 years. In my case this cost me over $10,000 in a bogus lease for equipment and extraordinary fees. They would not back down. As a small business owner this was a huge blow to me. I would stay as far away as you can from this corrupt company culture.

  • Sliveredge lied about the functions of the Clover point of sale system they stuck me with a 4 year lease $8,000 machine dont work dos not do any of what i was sold on the phone and no return no cancelation dont trust this company dont sign any thing

  • Marjan amirfaiz

    I have my my business for 25 years and one of my friends start working with this company and I try to help and sign with North American Bank card .It was the biggest mistake I did . They are thief . They charg me all the time ( by mistake) . Even after I close the account and sign the paper and fax it and send me email that my account is close still they are charging me . I call so many time and they said they going to return the money and nothing happen . I never work with the company like that . I don’t known why attorney general or federal trad commission don’t stop them .what they do scam the people .
    I saw few good comment , are you joking . They work for that place .when I open the account 25 of my friend s they open the account same times , all close the account and still they have problem .

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