TRU Payment Processing Reviews & Complaints
Overview
In this comprehensive article, we delve into the multifaceted world of TRU Payment Processing, a company offering a wide array of merchant services including credit and debit card processing, virtual terminal services, payment gateway services, POS systems, e-check processing, as well as gift and loyalty card programs. Our exploration encompasses various aspects of the company's offerings and operations, from examining its rates and fees to dissecting its contract terms. We also take a critical look at common customer complaints and industry ratings, shedding light on the real experiences of both clients and employees.
This article navigates through the nuances of TRU's marketing tactics and user reviews, providing a balanced perspective on the reputation of the company. Special attention is paid to its affiliation with Chase Paymentech and Wells Fargo Bank, and the impact of these relationships on its services. The recent move of Truly360, one of TRU's operational names, to Rancho Santa Fe, California, is also discussed in relation to the company's evolving business strategy.
Our article investigates TRU Payment Processing's involvement in lawsuits and fines, customer support options, and the real cost implications of using their services, including the potential pitfalls of equipment leases. Finally, we offer insights into the payment processing industry and compare TRU's services with other major banks, providing a thorough understanding for anyone considering TRU Payment Processing for their business needs.
About TRU Payment Processing
Founded in 2002, TRU Payment Processing is a merchant account provider that also operates under the names TRU Processing, Truly360, and Matthew Focht Enterprises. The company's most up-to-date website appears to be that of Truly360, but Truly360 primarily emphasizes its ability to help businesses set up Apple Pay integrated payment processing for retail, automotive, spa, restaurant, medical, and gym merchant accounts.
TRU Payment Processing
TRU Payment Processing appears to process all major debit and credit cards. Their website mentions EMV readers, POS terminals, mobile payments, and NFC payments.
Virtual Terminal Services
TRU Payment Processing's virtual terminal services allow businesses to process credit and debit card payments over the phone or via email, without the need for a physical card reader. This is ideal for businesses that don't have a storefront or need to process payments remotely.
Payment Gateway Services
TRU Payment Processing's payment gateway services enable businesses to accept credit and debit card payments securely and easily via their website. The payment gateway is fully customizable and integrates with major e-commerce platforms such as Shopify, WooCommerce, Magento, and more.
POS Systems
TRU Payment Processing offers a variety of POS systems that are designed to meet the needs of businesses in various industries. Whether you're looking for a traditional countertop terminal or a mobile POS, TRU Payment Processing has a solution that can help you process payments quickly and securely.
E-Check Processing
TRU Payment Processing's e-check processing services enable businesses to accept electronic checks, which can be processed quickly and easily. This is ideal for businesses that need to process large volumes of payments or have recurring payments.
Gift and Loyalty Card Programs
TRU Payment Processing offers gift and loyalty card programs that can help businesses increase customer loyalty and drive sales. These programs are fully customizable and can be integrated with POS systems and e-commerce platforms.
Location & Ownership
At the time of our last update, TRU Payment Processing's website stated that the company was a reseller of Chase Paymentech's (now Chase Merchant Services) merchant solutions, and it also stated that the company is a registered ISO of Wells Fargo Bank, N.A., Walnut Creek, California. Its website no longer lists this information. Matthew Focht is the CEO of TRU Payment Processing, which formerly listed its headquarters at 6965 El Camino Real, Suite 105-700, Carlsbad, California 92009. However, Truly360 has recently moved to Rancho Santa Fe, California, which may be the new base of operations for its affiliated companies as well.
| Pros: | Cons: |
|---|---|
| Various processing options available. | Complaints about sales tactics. |
| No setup fee. | High early termination fee ($495). |
| Multiple service industries covered. | Contract length: 3 years. |
| Untransparent fees and terms. | |
| Limited positive customer feedback. |
TRU Payment Processing Customer Reviews
Here's What Their Clients Say
| Total Online Complaints | <10 |
|---|---|
| Live Customer Support | Yes |
| Most Common Complaint | N/A |
| Recent Lawsuits | No |
Assessment of TRU Payment Processing Reviews
Currently, about 7 negative TRU Payment Processing reviews can be located, with none categorizing the company as a scam. The predominant issues raised are related to equipment lease costs, difficulties in canceling service, and confusion over the company’s rate match guarantee. Various names such as Matthew Focht, itstru.com, TRU Processing, and TRU Payment Processing appear in these reviews. Despite a lower than expected number of complaints for a company with TRU’s history, the complaints that are present often reference fees exceeding $495. If you’ve had experience with TRU Payment Processing, your review would be welcomed in the comments below.
Reputation Management Considerations
Truly360 has garnered numerous positive reviews on Google and Glassdoor. Notably, Truly360 specializes in reputation management and search optimization, potentially influencing the visibility of its user reviews on Google. This might affect the impartiality of the visible reviews for TRU Payment Processing. Business owners are thus encouraged to conduct comprehensive research, looking beyond initial search results.
Legal Status of TRU Payment Processing
No class-action lawsuits or Federal Trade Commission (FTC) complaints have been filed against TRU Payment Processing. Merchants seeking non-litigious resolution methods are advised to consider reporting to relevant supervisory organizations.
Customer Support and Company Rating
The low volume of complaints contributes to a higher rating for TRU Payment Processing, but due to the severity of some complaints, our rating for the company remains a “B.” This is reflective of the impact of these complaints rather than their quantity.
Contact Information for TRU Payment Processing
- (877) 878-1777 – Toll-Free Customer Support
Additional Customer Support
- Online support form available on the company’s website
While TRU Payment Processing offers live phone support, its service level does not yet align with the standards of top-rated payment processors for outstanding customer service.
TRU Payment Processing Online Ratings
Here's How They Rate Online
| BBB Rating | N/A |
|---|---|
| Our Rating | 2.5 |
| Average Rating | 2.5 |
BBB Rating Analysis for TRU
TRU has an A+ rating from the Better Business Bureau but is not BBB accredited. They have been in business for 21 years. However, TRU has no customer reviews and only one customer complaint filed in the last 3 years.
Negative Feedback
I have documents to support this timeline and my debt dispute.- 4/27/16 Email from TRU with “full account paperwork” for new application Email reply from me with completed form. Note: There are NO cancellation procedures on this document- 4/15/20 Email from TRU confirming my voicemail was received (I made several call attempts in April to cancel my account)- 5/21/20 Email from TRU providing a blank cancellation form, acknowledged that my previous attempts to make contact in April and *** were missed by the TRU team. Note: I did NOT need to take any action to contact ********** directly to cancel per the statement, “To close your account please review, sign, and return the attached cancellation form. Once we receive the completed form your account will be submitted for closure.”- 5/27/20 Email to TRU with the completed cancellation form- 2/8/21 Call to *********************** at 10:22am at Account ************************ ******************** about a collections case against me. My husband and co-owner called TRU customer service ************ at *******, representative ***************************** confirmed our cancellation was received, said he needed to contact ********** directly to solve the problem and would email once he had more info- 2/11/21 Email to ************************** with the above timeline plus 9 documents to dispute the case. Email to ******.- 2/12/21 Email to ****** and ******- 2/16/21 Email to ****** and ******- 2/17/21 Call to ****** at 1:35pm, she hung up on me when I explained that TRU was at fault for not ending billing with ********** when they received my written cancellation form. Called TRU and left a voicemail at 1:47pm, sent email to *********************************** *************************** and ************************************* 2/18/21 Voicemail at 3:03pm and email to TRU- 2/19/21 Voicemail at 3:32pm and email to TRU- 2/22/21 Voicemail at 11am and email to TRU- 2/23/21 Voicemail at 11:23am and email to TRU*NO email/phone replies from TRU! – Complaint from February 23, 2021
Positive Feedback
There are no positive reviews published about TRU on the Better Business Bureau website.
Source: Better Business Bureau
TRU Payment Processing Fees, Rates & Costs
A Closer Look at The Contract
| Cancellation Penalties | Up To $495 |
|---|---|
| Monthly & Annual Fees | Yes |
| Processing Rates | 1.00% - 4.99% |
| Equipment Leasing | Yes |
Long-Term Contract
Reports from several business owners indicate that the standard TRU Payment Processing merchant agreement involves a multi-year contract with an early termination fee of up to $495, a variable monthly minimum fee, and a non-cancellable month-to-month equipment lease of the Clover POS system through First Data Global Leasing. Under its new Truly360 branding, the agreement may additionally include costs related to Google search optimization and reputation management.
Beware Equipment Leases
While detailed fee breakdowns, including per-transaction fees and annual PCI compliance fees, are not currently available, the presence of a $495 early termination fee and a 48-month lease with First Data (now Fiserv) make it challenging to recommend these terms. The cost of leasing equipment can significantly exceed the purchase price of less than $500 over the duration of the lease, making this a poor financial decision. Business owners are advised to consider more cost-effective alternatives and may benefit from exploring our list of the best merchant accounts and cheapest merchant accounts.
Potentially Expensive Terms
The number of complaints regarding TRU Payment Processing’s contract terms is relatively small; however, the severity of the issues raised has impacted the company’s rating, which currently stands at “C.” If you possess any specific knowledge or documentation regarding the standard TRU Payment Processing contract, please share your experiences in the comments section below to help inform others.
TRU Payment Processing Employee Reviews & Sales Tacitcs
Should You Work For Them?
| Uses Independent Resellers | No |
|---|---|
| Telemarketing | Possible |
| Misleading Marketing | No |
| Discloses All Important Terms | No |
Inside Sales Team
TRU Payment Processing appears to utilize a combination of inside sales agents, referral programs, and online advertising to market its services. There is no evidence at this time that the company operates as a “hiring mill.” However, we have located a handful of TRU Payment Processing reviews that describe misrepresentation or nondisclosure by sales agents, specifically in relation to the company’s 48-month equipment leases through First Data Global Leasing. This does not compare favorably to our list of best credit card processors.
A Detailed Sales Complaint
One of the most recent TRU Payment Processing complaints filed against TRU Payment Processing was actually filed with the Better Business Bureau against the Truly360 brand. In this TRU Payment Processing complaint, the merchant makes the following allegations:
Truly360 representative, ****** ********, disclosed to me a contract with Truly360 that was totally cancelable at any time for a cancellation fee of $495. And without my knowledge or consent he entered me into a lease with ***** **** [probably First Data – ed.] and Truly360 Merchant account. No contract was given to me at the time of signing. Once I received the letter from ***** ****, ON Nov 2, 2016, alerting me to a 48 month non-cancelable lease, I contacted ***** **** that same day and requested and received a copy of the contract. I also contacted Truly360 that day, and after many calls and requests, I finally received a copy of the contract from Truly360, approximately 10 days after signing. The contracts are different. The one that Truly360 showed me on the Ipad had a cancellation fee of $495. ***** **** did not. I never signed a lease with ***** **** nor did I supply my social security number or date of birth.
[…]
Truly360 represents themselves by being with ****** [probably Google – ed.] and are coming to take updated pictures for the ****** search engine. He comes in with a ****** logo on his shirt and starts to sell the ****** Growth package.
Well into the meeting he presents the merchant account and ****** machine. He states this is a free machine if we purchase the ****** package. He sells this as a package with a $199 dollars a month fee. It is at this time, with witnesses, that this conversation took place:
Me: I have no intention of getting into any contract or lease. I am still in a lease with ***** **** that ends in 2 months.
Rep: You can cancel at any time
Me: What is the cancellation fee?
Rep: I will waive it
Me: No offense but the merchant business has a lot of turnover. So tell me, if you were no longer working for this company, what would it cost me to terminate early?
Rep: $495
Me: Totally? For everything? (the ****** machine was on my desk and I made a circular motion over it).
Rep: Yes, totally
Business Partner: We can handle that
At no time did the rep disclose the ***** **** Lease. I was not given copies at the time of signing. I discovered the lease when I received the letter and immediately contacted Truly360 stating I was going to cancel the entire contract. I contacted ***** ****, stating I did not enter into a lease agreement.
Truly360’s Response
It is important to note that Truly360 categorically denied most details of this TRU Payment Processing review in its responses. However, if the client’s version of events is accurate, then this would indicate that Truly360 is engaging in an increasingly common sales tactic within the credit card industry. Specifically, this tactic involves a merchant account provider strongly promoting a business service “program” that is unrelated to credit card processing, but then requiring that businesses sign a long-term equipment lease and processing agreement in order to participate in the larger “program.” This approach is usually profitable for providers because the margins on leased credit card equipment are incredibly high. In fact, here is an excerpt from a company representative’s response to the TRU Payment Processing complaint cited above:
By signing a 4 year lease and combining processing we are able to eliminate ALL upfront fees with our marketing services and completely get rid of all of our fees after 4 years. With the profit we earn from the credit card processing we are able to continue to provide incredible marketing services for essentially NO cost to the business after the initial 4 years.
Some Cause for Concern
TRU’s overall number of sales complaints is low for a company that has been in business as long as TRU Payment Processing has, but the specific TRU Payment Processing review content has lowered the company’s score to a “B” until we have more information about TRU Payment Processing’s current sales approach. If you suspect that TRU Payment Processing is charging you undisclosed fees, we recommend seeking a third-party statement audit to find and eliminate hidden fees.
Our TRU Payment Processing Review Summary
Our Final Thoughts
TRU Payment Processing rates as an average credit card processing provider according to our rating criteria. The company’s contract terms have the potential to be very expensive, but it hasn’t received a large enough complaint volume to warrant serious concern at this time. Due to Truly360’s expertise in online reputation management, businesses are encouraged to be diligent when researching the company and to compare its costs to those of top-rated credit card processors.
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Donald V Fargnoli
Absolutely agree. Got taken with fraudulent cancellation fees, among other things. Matt Strom is the man responsible there. This company is a bad joke.
Judy Brown
Horrible scam. They should be ashamed of themselves. They change their name all the time . When they came to me it was Truly 360.
This post will help: How to Report Bad Credit Card Processors
-Phillip
FAz
These guys are no good. Stay away. Customer service is an F.
This post will help: Best Merchant Accounts for Great Customer Service
-Phillip
Judy Brown
They say they are a trusted partner of GOOGLE . But I seriously doubt this. They suggest they will increase your visibility on Google- for only $150.00 a month but they do nothing. The sales rep that sold me this scam came and went from tru360.com ! They say they will reimburse you for any contract fees you are currently in! They didn’t! They say they will reimburse you 110% if their processing fees are more than what you were paying! THEY DON’T. THEY SAY YOU HAVE FREE CLOVER SERVICES BUT the money you are actually paying goes to Clover which my small business cannot afford for the next 4 years unless I pay $4000. It hurts worse than being burglarized to be scammed.
Ramona Kearns
Magazines were the subscription pitch and I want to cancel because it is just too much paper. I’m told that they can’t cancel my subscription because the Magazine companies are already paid. I’m looking into this bs further.