What to Expect from Velocity Merchant Services: Everything You Need to Know

Velocity Merchant Services, founded in 1998, is a merchant account provider located in Downers Grove, Illinois. Velocity claims to have a merchant portfolio numbering in the thousands and appears to resell the services of First Data (Fiserv) and EVO Payments International.

Payment Processing

Velocity Merchant Services offers processing for most major debit and credit cards across various business types.

POS Solutions

Velocity Merchant offers point-of-sale (POS) systems through Clover, providing businesses with an integrated solution for managing transactions.

Mobile Payments

For businesses looking to accept payments on the go, Velocity Merchant provides mobile payment solutions. These tools allow merchants to process transactions via smartphones or tablets.

Virtual Terminals

Virtual terminals from Velocity enable businesses to process payments remotely. This service is ideal for companies that handle orders over the phone or by mail, allowing for secure payment acceptance without the need for physical card readers.

e-Commerce Solutions

Velocity Merchant’s e-commerce offerings support online businesses by integrating secure payment gateways.

EMV Card Readers and Swipers

Velocity Merchant equips businesses with EMV card readers and swipers to comply with chip-card technology standards.

Business Credit Cards

Velocity Merchant offers business credit card solutions. These cards provide companies with a line of credit for managing operational expenses, with the flexibility to make purchases and track business spending.

Moderate Complaint Total

Velocity shows an average number of non-BBB complaints considering its size and time in business. However, several negative reviews raise concerns, suggesting Velocity Merchant Services may engage in questionable practices. Since our initial review, the comment section has accumulated nearly 40 complaints, with a few directly addressed by a company representative. These complaints often highlight Velocity’s sales tactics as the primary issue, alongside complaints about undisclosed fees.

Cause For Concern

We found approximately 25 negative Velocity Merchant Services reviews on other consumer protection websites, some filed by former employees. These complaints indicate troubling patterns, alleging that deceptive sales strategies are part of the company’s formal agent training. One complaint describes salespeople misrepresenting themselves as financial consultants and making false claims about rates and services.

Velocity Merchant Services Customer Service Options

Velocity’s website offers live chat, a support ticket system, and a dedicated customer service line. However, over ten complaints across various review websites mention long customer service wait times and interactions with rude or unhelpful representatives. This supports our decision not to include Velocity in our list of the best-rated merchant accounts for customer support.