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True Payment Solutions Review
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UPDATE 2/27/2019: The True Payment Solutions website currently redirects to the Central Payment Corporation website. We cannot find any evidence that the company has changed its name, so it appears that the True Payment Solutions brand has been absorbed into the Central Payment Corporation brand. We will continue to monitor the company for a return to the market under a new name, but we will no longer update this review. If you have information about the current status of True Payment Solutions, please leave a comment below this review. For current information about this organization, see our Central Payment Corporation review.
A Central Payment Reseller
Founded in 2010, True Payment Solutions (tpsusa.com) is an Overland Park, Kansas-based merchant account provider that serves most standard-risk business types. The company presents itself as a top all-purpose payment processing option for a wide range of industries. True Payment Solutions is an ISO of Central Payment Corporation (CPAY), which is itself a subsidiary of TSYS.
Headquartered in Kansas
True Payment Solutions is a registered ISO/MSP of First National Bank of Omaha, Omaha, Nebraska, and is headquartered at 7200 W 132nd St, #100, Overland Park, Kansas 66213. Ephantus Mwangi is the president of True Payment Solutions.
True Payment Solutions Review Table of Contents
- Costs & Contract: True Payment Solutions offers a three-year agreement through Central Payment Corporation with an early termination fee of up to $550.
- Complaints & Service: True Payment Solutions has received more than 30 public complaints.
- BBB Rating: True Payment Solutions has an “A-” rating with the Better Business Bureau and has received 57 complaints in the past three years.
- Sales & Marketing: True Payment Solutions appears to hire independently contracted agents and has received a moderate number of complaints about its sales team.
- Rates & Fees: How Merchants Got The Best Rates With True Payment Solutions
True Payment Solutions Customer Reviews
Here's What Their Clients Say
|Total Online Complaints||35+|
|Live Customer Support||Yes|
|Most Common Complaint||Hidden Fees|
Moderate Complaint Total
We are currently able to locate over 35 negative True Payment Solutions reviews, and some of these complaints describe the company as a ripoff. Common issues cited in these complaints include higher-than-expected fees, undisclosed cancellation penalties, aggressive sales tactics, and poor customer service. There are also some complaints from employees of True Payment Solutions who feel they were not adequately supported or fairly compensated. In its official responses to merchant complaints, True Payment Solutions sometimes holds merchants to the terms of the contract despite their claims of deception. In other cases, the company issues a refund.
True Payment Solutions Support Options
This is a moderate complaint total for a company that has been in existence since 2010, but the consistent increase in complaints since our last update has lowered the company’s score in this section to a “C.” True Payment Solutions offers phone and email support information on its website, but this is not enough to rank it as a top merchant account for customer service.
True Payment Solutions Online Ratings
Here's How They Rate Online
|Product & Service Complaints||29|
|Billing & Collection Complaints||24|
|Advertising & Sales Complaints||4|
|Guarantee & Warranty 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.
Over 50 Complaints
True Payment Solutions currently has an “A-” rating with the Better Business Bureau and has been accredited since 2012. The company has received 57 complaints in the past three years, with 29 related to product or service problems, 24 due to billing or collections disputes, and four having to do with advertising or sales. The company has successfully resolved seven of these complaints, while the remaining 50 either were not resolved to the satisfaction of the complainant or did not receive a final response from the complainant.
What Merchants Say
True Payment Solutions has also received 31 informal reviews from merchants, with 23 of them positive in tone and eight negative in tone. The most recent review came from a merchant who struggled to cancel service:
I would not advise using them. I literally had to change me checking account to get them out of it. Kept charging me for an account that was not even up and going yet. Called several times and finally a supervisor named Ashley had my number qued straight to her phone. When I asked for a higher supervisor she wouldn’t push me through to one. I had been there customer over 3 years with my previous account. And do to them not wanting to fix it and wanting to charge me 500 to terminate the new account that may I add no terminal was ever installed and I had an understanding we would set everythjng in motion 2 weeks prior to opening second business. I am being charged because that created an account when agent gave me his personal phone numbet to call when i wad ready to proceed. So they not only lost the new account but I stopped using them after 3 years and 6 months with my first account. When I told them I wanted to cancel the first one told it would be 350 to get out of it and I told her it had been over the 3 year window and was informed it renews automatic for another 2 years. I would be very careful of getting roped into this credit card processing company.
It appears that this merchant could benefit from taking the proper steps to cancel a merchant account without paying a fee.
A “C” Performance Overall
Considering the company’s complaint total and resolution ratio, we have adjusted the BBB‘s rating to a “C.”
True Payment Solutions Fees, Rates & Costs
A Closer Look at The Contract
|Early Termination Fee||$300-$550|
|PCI Compliance Fee||Variable|
|Equipment Lease Terms||Non-Cancellable|
According to merchant complaints, the standard True Processing Solutions merchant agreement is simply a CPAY contract (available below), which consists of a three-year agreement with an early termination fee of up to $550, a $195 application fee, a $9.50 monthly fee, and an annual fee of $99 that may or may not be a PCI compliance fee. The company also appears to sell long-term, non-cancellable equipment leases that can ultimately cost thousands of dollars.
Unreliable Savings Projections
Multiple merchants report that some of these fees as well as the company’s per-transaction fees are misrepresented or not disclosed at the time of the sale. Specifically, they claim that their sales representatives assured them that the contract could be cancelled anytime without penalty, or showed them a savings comparison that was not ultimately honored. As with the company’s sales tactics, these complaints mirror those filed against CPAY.
Potentially Costly Terms
The available details about True Processing Solutions rates and fees suggest that the company deserves a “C” in this category, and that it is far from ranking as one of the cheapest merchant account providers. See the Central Payment Corporation Merchant Agreement.
True Payment Solutions Employee Reviews & Sales Tacitcs
Should You Work For Them?
|Employs Independent Resellers||Yes|
|Advertises Deceptive Rates||No|
|Discloses All Important Terms||No|
Many Sales Complaints
Like Central Payment Corporation, True Payment Solutions appears to utilize a combination of in-house sales agents, independently contracted sales agents, and referral partnerships to market its services. The use of independent agents is typically tied to high complaint totals within the industry, and True Payment Solutions appears to be no exception. The company is currently showing more than 20 complaints that describe misrepresentation of fees, nondisclosure of contract terms, and high-pressure sales tactics by True Payment Solutions representatives.
Merchants most commonly claim that the company’s actual rates are higher than those quoted by sales agents. Many merchants also state that their sales agents promised to pay their current termination fees or provide on-site equipment installation only to never follow through. These complaints are similar to complaints that have been filed against CPAY, which suggests that their may be some overlap between the two companies in either sales practices or employees.
Average Approach, Average Performance
It appears that each merchant’s experience with True Payment Solutions will likely come down to the sales agent they work with, so it’s important to ensure that you are in contact with someone you trust. If you suspect that True Payment Solutions is hiding fees in your contract, we encourage you to seek a third-party statement audit to find and eliminate hidden fees. True Payment Solutions has been assigned an average rating of “C” in this category.
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