Vantiv May Have Overcharged You
If you accepted credit cards through Vantiv or any other credit card processing company between 2017 and 2019, recent changes to the law may entitle you to refunds of certain debit card and credit card processing errors and overcharges. See this post to find out if your were among the businesses affected and to learn how you can get your money back.
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.
- 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
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