Updated 1/2/2019: Following Vantiv’s 2017 acquisition of WorldPay, the joint entity has assumed the latter credit card processor’s brand name and has opted for a slightly different stylized designation, “Worldpay.” Since Vantiv’s sub-brands have since been consolidated into Worldpay and the Vantiv brand appears to be almost entirely phased out, we will no longer update this review. For current information about this company, see our Worldpay review.
Vantiv (vantiv.com) is the merchant services and credit card processing division of Fifth Third Bank. The company is one of the largest payment processors in the United States and is publicly traded on the New York Stock Exchange under “VNTV.” Vantiv entered the merchant services industry in 1991 under the name of Midwest Payment Systems, then changed its name to Fifth Third Processing Solutions in 2003, and then again changed its name in 2011 to Vantiv.
Since its founding, the company has acquired several other credit card processors and ISOs, including ACI Merchant Services, Card Management Corporation (CMC), TNB Card Services, National Processing Company (NPC), Mercury Payment Systems, Element Payment Services, and, most recently, WorldPay. Mercury and Element Payment Services have since been combined and rebranded to create Vantiv Integrated Payments. Vantiv is a direct processor sponsored by Fifth Third Bank. The company’s corporate headquarters is located at 8500 Governors Hill Dr., Cincinnati, Ohio 54249, but Vantiv also has offices in Illinois, Indiana, and Texas. Vantiv’s CEO is Charles D. Drucker.
Key Points
- Sales & Marketing: Vantiv hires independent sales agents and has received a low-to-moderate number of complaints about its sales practices.
- Costs & Contract: Vantiv offers a three-year standard contract with a $495 early termination fee.
- Complaints & Service: Vantiv has received more than 200 public complaints.
- BBB Rating: Vantiv has a “B-” rating with the Better Business Bureau and has received 265 complaints in the past three years.
- Rates & Fees: How Merchants Got The Best Rates With Vantiv
This company is a rip off. Adding on more fees then acceptable. Compliance fee 90.00, non compliance fee 19.95 and tons more.
these guys are crook do not sign up for this service or lease a machine
The absolute worst company and customer service ever. Have been trying to resolve an issue with our gift cards for a month now. No way to run a business. No one responds to emails. When you call you can expect to be on hold for a very long time only to be asked to provide your company information several times as you are transferred over and over again. Then you get transferred to a voice message that tell you to leave a message but the mailbox is full. This is after 65 minutes on the phone.
worst processing company ever. they bought out merchant services and then screwed up my account. they started charging 150.00 per month because they said my name and federal id number didn’t match. it had matched for 10 years prior to being with Worldpay/Vantiv. they had it fixed they said but continued to charge it. it took 5 calls with over 3 hours of time before i got my money back and the account fixed. i have now switched. run as fast as you can if any processor is associated with worldpay or vantiv.
I have been trying to close our account since April. I get charged fees each month & then when I call they tell me they are working on it & will let the “back office ” know. Customer service is awful and when I asked for a manager they put me on hold and never returned. Be very aware of Vantiv. I have never experienced anything like this, ever! Be very aware before signing with them. You will be sorry!
Deana,
We offer merchants some guidance on how to cancel an account without being charged a fee.
Poor service: rude and inefficient .
Credit card machines are old and slow .
And , when we wanted out they handcuffed us with penalty fee of $495 instead of charging the $20 a month user fee for 1 year which would have let get out with only $240.
So , add greedy company to above .
Needless to say : good ridden !
I have never heard of Vantiv Holding LLC till today. I received a bill from the IRS stating I owe over 175,000.00 in back taxes from 2017 from outside income from Vanitv. Vanitv stating I earned over 360,000.00 in 2017 filed on a Form 1099K. How they found me is baffling, I do not own a business. I will be calling the Attorney General’s office for resolution. Vultures!
In 2017 we were presented a new contract by the rep.for Vantiv,at that time he said we were not obligated and could cancel at any time. In May of 2018 we called Vantiv and cancelled our service, the rep.told us he would see it was cancelled also. One year later while doing an audit on the business I find they are still charging a monthly fee, so in June I called to get it stopped, their remedy was paperwork I had to fill out which I did and sent back, still didn’t stop but now that I’m on to them they raised the fee they are deducting. So called again their excuse this time was I didn’t sign the contract, my manager did so she would have to fill out the paperwork, which was done. Then on August 2nd they finally cancelled the account but not before they had taken 375.00 on Aug. 1st then tried to debit another 79.95 on the 7th which they didn’t get because I had stopped payment. I have called several times asking for a refund on some of these fees ,all they do is give me a case number,pay lip service,then nothing happens.
This post will help: Cancelling a Merchant Account Without Paying a Fee
-Phillip
Vantiv / World Pay, has never sent me any merchant statements and is refusing to release my statements (since December) to me. Everytime I call to request my statements, they keep giving me the runaround or hang up on me; this has happened 4 times already.
The last person I spoke to, claimed to have emailed me my statements since May and when I told her I didn’t receive anything. She said “Oh, you’re gonna get it, let me put you on hold while I get the rest of your statements” 15 minutes later, she hung up on me.
The lack of statements has caused me to lose several potential buyer for my store. Because, I’m unable to present a complete profit and loss.
This post will help: Best Merchant Accounts for Great Customer Service
-Phillip
HORRIBLE company. We have been down for a week because they de-activated our WorldPay account after telling us there would not be a problem with their migration. We run over $1.2MM per month in volume and are being handed around the company with no-one taking responsibility or resolving the issue. This is not the first time we have had issues. We are moving our business
This post will help: Top All-Purpose Merchant Accounts
-Phillip