Velocity Merchant Services Reviews & Complaints

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How did they treat you?
Pros and Cons
Pros: Cons:
Diverse Services: Includes website desig Sales Tactics: Aggressive, sometimes misleading.
Customer Support: 24/7 technical assistance. Contract Terms: Long, often unclear.
Customizable Options: Tailored business solutions. High Fees: Variable, including equipment leases.


In this review of Velocity Merchant Services, we will provide an insightful look at their offerings. Well start by assessing their rates and fees, giving you a clear understanding of the financial commitments involved. Next, we will dive into the specifics of their contract terms, highlighting key aspects for potential clients. A significant part of our review focuses on common customer complaints and industry ratings, presenting a realistic picture of the company's customer satisfaction levels. We'll also examine employee reviews to provide an internal perspective on the company's practices.

We'll take a close look at the marketing tactics used by Velocity Merchant Services and analyze user reviews, particularly focusing on sales strategies and customer experiences. We'll explore the range of payment processing options they offer, including their capabilities for various transaction types. Additionally, we discuss recent news like the Visa and MasterCard lawsuit, adding context to their current business environment. We also evaluate their customer service options and provide a detailed analysis of processing costs.

Finally, we offer our overall perspective on Velocity Merchant Services, weighing the advantages and disadvantages to help you determine if they are the right merchant service provider for your needs.

About Velocity Merchant Services

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.

Velocity Merchant Services Homepage

Velocity Merchant Services Payment Processing

Velocity Merchant Services processes most major debit and credit cards for all business types. Their services include point-of-sale solutions from Clover and Velocity, mobile payments, virtual terminals, e-commerce solutions, EMV swipers, business credit cards, payroll, marketing, loyalty solutions, inventory, team management, gift cards, and cash discounts.

Video Summary

Velocity Merchant Services payment processing
Velocity Merchant Services offers standard payment processing services

Velocity Merchant Services Customer Reviews

Here's What Their Clients Say

Customer Reviews Summary
Total Online Complaints 60+
Live Customer Support Yes
Most Common Complaint Hidden Fees

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 Lawsuits and Fines

We have not found any outstanding class-action lawsuits or FTC complaints against Velocity Merchant Services.

However, records show that Velocity Merchant Services faced a fine of $19,007 in 2019 for wage and hour violations.

Merchants unhappy with Velocity Merchant Services who prefer non-litigious recourse should consider reporting their concerns to relevant supervisory organizations.

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.

Velocity Merchant Services Customer Service Information

  • (801) 876-8998 or 801-516-4590 – General Customer Support
  • (630) 708-6005 – Fax

Other Support Options

Velocity Merchant Services Online Ratings

Here's How They Rate Online

Online Ratings Summary
BBB Rating 1.9
Our Rating 2.8
Average Rating 2.35

BBB Rating Analysis for Velocity Merchant Services

Velocity Merchant Services has an average customer review rating of 1.9/5 stars on BBB based on 10 customer reviews. The company has received 16 customer complaints in the last 3 years, with 6 complaints closed in the last 12 months.

Negative Feedback

Velocity Merchant Services are crooks! When I first bought my business, I needed a credit card processor company. ****** evidently gave them my phone number and they called. I accepted the terms (1year). Then the next day…(Before I received the card processor, I called the salesman to cancel. She informed me that it was too late, and that I would be locked in to the ***** monthly fee for 1 year and would not get the ****** initial fee back. I accepted it because I felt that I was at fault for agreeing initially, however, I ****ed my calendar for the one year **** which would have been March 2023. I have never used the equipment at all. In March I called and cancelled the contract. Then was told that it is a 4 year contract and that I would have to pay ****** to cancel on the 4th year. If they would allow a 0 star rating, they would get it from me. This company is pure and simply a scam!! Roxton Grocery and Cafe – Review from November 10, 2023

I own a gas station convenience store. I was interested in providing *** for my customers so I researched a company to assist with the *** application and process, this was *** of 2022. I came upon VMS (Velocity Merchant Services), I filled out a questionnaire and within a couple or hours a representative ********************* called me back. He stated he works with the *** program which I assumed at the time he was working with the ***************** because he did not deny this when I asked. I told him I am unfamiliar how *** application works and he assured everything would be done for me; all I needed to do was sign some papers. he made it sound so easy. **** said I needed to purchase the credit card processing terminal which would cost about $595 and I needed to purchase it right away before they can begin the *** application. He assured me I would not get billed until my application was approved by the State; and application process moves fast. So I believed him and he sent over the agreement via email. He called and rush me through the application process; I thought I was filling out the *** application over the phone with him and he was submitting it for me to the *****************. When I questioned him about the process and how it works, he reassured me this was standard procedure and once the \”application\” was completed the ***** will sent someone to the site to ensure we carried all the required food items to be eligible for ***. The credit card terminal arrived overnight and I was billed. I called and asked what I should be doing with this terminal since I wasn’t *** approved and already charged. **** said everything is in the works and I will be up and running soon. Come Sept 2022 I am not *** approved and been getting billed. I tried calling **** and left voicemails with no answers, I emailed him on 9/26/22 and he replied 9/27/22 that my *** application would be submitted today. It is now 7/18/23 and VMS sent me to collections and I am not *** approved. – Complaint from July 18, 2023

Positive Feedback

There are no positive reviews published about Velocity Merchant Services on the BBB website.
Source: BBB

Velocity Merchant Services Fees, Rates & Costs

A Closer Look at The Contract

Cost & Fees Summary
Swiped Rate 1.00% - 4.99%
Keyed-in Rate 1.00% - 4.99%
Virtual Terminal Rate 1.00 - 4.99%
Payment Gateway Fee Undisclosed
Early Termination Fee Up To $700
PCI Compliance Fee $120 Per Year
Equipment Lease Terms 48 Month (locked)

Three-Year Agreement

The standard Velocity Merchant Services contract operates through EVO Payments International. It entails a three-year contract with automatic renewal for one-year terms and an early termination fee of $395. The standard EVO PCI compliance fee amounts to $120 annually. Although some complaints suggest a 48-month agreement with an early termination fee ranging from $495 to $700, these reports are less reliable than the contract’s actual terms.

Beware Long-Term Leases

Prior to October 2014, Velocity collaborated with Northern Leasing for equipment leases, which sometimes led to confusion among merchants who unknowingly signed separate agreements with Northern Leasing. Presently, the company leases terminals and POS equipment through First Data Global Leasing. Recently, a merchant reported a $35 monthly lease for a 48-month term, aligning with standard long-term lease rates. It’s important to note that most credit card terminals can be bought for under $500. Long-term leases, which are non-cancellable, can lead to substantial costs, making them unfavorable contract terms. We recommend merchants explore our list of the best merchant services.

Virtual Terminal and Payment Gateway Pricing

Besides its in-store payment processing, Velocity Merchant Services promotes its virtual terminal and payment gateway services on its website without disclosing pricing. Additional rates and fees, including gateway fees, technical support fees, batch fees, and additional transaction rates are typically applicable to these e-commerce services.

Velocity Merchant Services Contract Terms

While specific documentation regarding Velocity’s rate structure is limited, available figures suggest they are slightly less competitive within the industry. Therefore, we rate Velocity as “C” in this category. Merchants might find more savings with a top budget merchant account provider. If you possess specific knowledge about Velocity’s contract terms, kindly share it in the comment section of this review. Refer to the Velocity Merchant Services Merchant Agreement.

Velocity Merchant Services virtual terminal
Velocity Merchant Services offers multiple e-commerce solutions, including a virtual terminal

Velocity Merchant Services Employee Reviews & Sales Tacitcs

Should You Work For Them?

Jobs & Marketing Summary
Employs Independent Resellers Yes
Advertises Deceptive Rates Yes
Discloses All Important Terms No

Telemarketing and Outside Sales Agents

Velocity Merchant Services appears to hire independent sales agents in addition to an in-house telemarketing team to market its services. The use of independent sales agents is a common practice within the card processing industry that often produces a team of untrained, unregulated sales agents. In the case of Velocity Merchant Services, a large number of complaints cite agents’ nondisclosure of contract terms, aggressive sales tactics, and misrepresentation of rates. This does not compare favorably to our list of best credit card processors.

Evidence of Slamming

In addition, some Velocity Merchant Services complaints filed by former employees suggest that the company trains its telemarketing agents to present themselves as representatives of Visa and MasterCard, possibly in a bid to convince merchants that Velocity agents are agents of their current providers and get them to unwittingly switch to Velocity (a tactic known as “slamming“).

Sales Complaints

The sheer amount of complaints that mention the credit card processor’s sales tactics are significant enough to lower its score to a “C” in this section. If you suspect that you have had undisclosed fees added to your Velocity Merchant Services contract, we recommend seeking a third-party statement audit to eliminate hidden fees.

Our Velocity Merchant Services Review Summary

Our Final Thoughts

Velocity Merchant Services ranks as an average merchant services provider by our assessment. The company’s overall rating is primarily hindered by a troubling pattern of nondisclosure and misrepresentation reported among its sales agents. Complaints often cite a lack of transparency and unexpected fees, resulting in a higher volume of dissatisfaction that impacts Velocity’s credibility. This pattern highlights an area where the company could significantly improve, as stronger oversight of its sales practices and clear communication with prospective clients would foster greater trust.

To enhance its rating, Velocity Merchant Services should exercise stricter control over its sales agents, ensuring they convey accurate and comprehensive information to clients. Additionally, offering more competitive contract terms would make the company a more appealing choice for businesses. At this time, merchants considering Velocity are advised to compare its pricing and terms with those of top-rated merchant accounts. By securing a more favorable deal, businesses can better align their processing needs with a provider that prioritizes transparency and client satisfaction.

Location & Ownership

Dema Barakat is the founder and current president of Velocity Merchant Services, while LinkedIn lists Danoush Khairkhah as the CEO. The company is a registered ISO/MSP of Deutsche Bank, AG, New York, and it is headquartered at 3051 Oak Grove Road, 2nd floor, Downers Grove, Illinois 60515.

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Testimonials & Complaints

How Did Velocity Merchant Services Treat You?

39 User Reviews

  • Abdul

    Back in May of 2020, a company named Velocity Merchants called our business phone and deceived us into thinking that they were my original merchant service provider and that all they wanted to do was upgrade our credit card and EBT processing machines since they were old. They were not specific about being a different entity than my actual original merchant service, who is Bank of America Merchant Services. After being deceived and believing it was just an upgrade, we went on to sign documents that trapped us into a 4-year lease through First Data for use of the new machines given. This was not stated to us over the phone and wanted us to be quick about our response. I am also upset because they charge many hidden fees and upon checking complaints from the Business Bearuea, they seem very fishy.

    It didn’t come to our attention until September when the CEO of the business came back from vacation and realized that we have been dealing with a completely different service, or else we would have canceled right away. I called them to cancel their services and that I want to return the equipment and cancel this lease agreement due to the reasons stated above. They requested a $495 cancellation fee and on top of that, the lease is non-cancelable. My original merchant service provider is still active and I have contacted them about the issue and put back my original machines which were completely paid off after a 4-5 year lease through a couple of years ago.

    I will upgrade machines through my actual Bank of America Merchant services and in that case, I don’t mind the lease through my bank if it comes to that because I trust my bank and I have used my original service ever since I started my business many many years back.

    FDGL will not cancel the lease since it was signed and we didn’t do anything until September even when I explained to them the person signing all the paperwork was not the CEO but someone temporarily managing the business until the CEO got back. The manager insisted that merchant velocity made it seem like they were the same providers as our original merchant services. It’s not fair we were deceived into this scam, they were overcharging us and rushed us into signing papers that lead us into this mess.

    A lease should be cancelable under these terms above and I will follow up with an attorney. you should not have to be bonded to a lease you were deceived into and giving false claims.

  • Jason

    If I could give this company a rating it would be 0/10. I have never been shafted as I have been by VMS. Over $70 in fees per month after I stopped using their POS system. As of present, they say I owe them $495 …. for what? … charged for non use, ridiculous. Do not waste your time or money with this company or you’ll have the same regrets. As the owner of a medical practice, go with the ease of stripe or square. Both honest companies and you know exactly what you’re paying for. VMS should be shut down!

  • Jennie

    So bad experience with Velocity Merchant Services, they was promised will give me batter rate but they are more expensive than my old company that I work with also their sale representative so bad they lie to you will give you better deal then they step off after and didn’t take any responsibility on their words , then you stuck with high lease orver 600 per month for 48 months for equipments under 2000$ let , when we call customer service They said sorry about that but they don’t take any responsibility on their sales representatives , first they said try it for 90 days trying to get you in then they didn’t keep their words , be careful everyone they will not do like what they was told you

    This post will help: Find and Eliminate Overcharges In Your Monthly Bill

    – Phillip

  • kenneth hicks

    worst company ever big time rip off !!!!!! out side sales person pretended to be a infortmen officer for the government had me sign up to this company that he said was safe while he got my money back now im paying 4 times more then what i had every time i try to talkto some to fix it it getrs worse now its 10 times more try to get help from the attorney general buyer beware stay aweay there cooks and lier

    From The Editor
    This Post Might Help: Find and Eliminate Fees From Your Monthly Statement

  • Laurie Delegal

    I was conracted by VMS as I was applying for EBT from USDA for business. I have no idea how they got my cell number from a government agency. I was advised they are the vendor who provides the machines for EBT and I would need to use them to obtain service. They use Clover. I had a Clover. I said why can’t I use my Clover. Well it is not programmed for EBT. Long story short I was scammed. Their machine does not work correctly and still waiting now 5 days for tech support. I added EBT to my Clover no problem. Just an app download. I have a vouce message from the VMS sales person today saying I have to use their encrypted/programmed Clover. I played the voicemail for the Manager Shannon and she said she does not feel I was scamned. I said you hear her right today saying I cannot use my clover! She is offering to cancel their transcation fees or contract but I still have to pay for all the equipment and I was advised it was not useable. They program the Clover to only be used with their VMS company so she basically said tuff luck or call a lawyer. She knows her salesperson scammed me and she basically said well you signed a contract so oh well. She said get a lawyer. This company would not return my calls for help until I sent a complaint to the BBB. Her salesperson was furious and called me from her cell phone with the message I have recorded. She said I should have called her. Well Sue after leaving 2 messages for you after a whole week no call I dont know what to say. You were there when I called as I could here you talking in the background. How many times should I call to beg you or a manager to call? I think five calls are plenty as I left messages for a manager 3 or more times.

  • Sheritta M Buford

    I have been using clover for my business for a bit over a year now and it has made everything better. From my representative Samantha to the customer service department, they make me feel like I made a great choice because of their wonderful service and affordable rates.

  • Jarred J

    I am very pleased with the professional and courteous service that VMS has shown me thus far. Working with one of their reps, Josh, has been such a pleasant and rewarding experience. I am excited to be working with them, and most of all, happy to know that needs are met with ease, satisfaction, and peace of mind. Thank you!

  • Aryonna Waters

    Dear Shannon( VMS Rep)
    Just a note to thank Mike, You, & Jeri for rectifying everything for us. Sorry to have precipitated an issue with our cancellation. Thank you for working for us
    and with us to resolve everything.
    I mailed the Spa Sample Box with all its items and the tracking number
    It should arrive by Friday. Also, can you please send us a written confirmation of cancellation of merchant services with the stated no charge written out for our records.

    Thank you again for your Time & Integrity
    Aryonna & Carl Waters

    We were not a good fit for this company but they were fair and Mike Hopkins a supervisor rep. was absolutely amazing. If you decide to work with this company track down Mike. His knowledge and educational understanding of merchant services are worth every minute of your time. He is man of integrity and will work in your behalf.
    Thank you again Mike. We were also given the requested written confirmation for our cancellation. Thank you team VMS!
    Aryonna & Carl


    I have been with VMS for 8 years and the last few years they have given me the run around with the pci compliance scan. my scans all pass and they still charge me a noncompliance fee. every month. when I finally got tired of it they now want to charge me 195.00 to close the account. they are such crooks!

  • Dawna L


    This company has terrible customer service, terrible service (the card machine does not work very well most of the time) and the only way they will replace the machine when there is a problem is if you pay them more money…we have had their service for over 2 years and had working service…(fair…since wireless connection does not work in many locations around the valley) for about 9 months out of 2 1/2 years. The rest of the time we have been mailing the machine back…to be “fixed” again and again…we have spent countless hours on the phone and no one seems to offer resolution. They won’t fix anything without charging you more money. The shady wording in the contract has lots of loopholes so that they can get out of helping you …they have told me it is not their responsibility if their equipment is not working…we are responsible to pay for new equipment and that is the only solution to the problem.

    Also, their system keeps de-activating our account…even though we pay monthly…if we don’t use the card machine frequently…it stops working and we have to send the card machine back in order to fix it. The customer service people just seem to read scripts and do not actually want to provide help to earn loyalty of customers.

  • Desmond Waelder

    After starting a new business, I wanted to offer credit card processing to my customers. Knowing that the new business was a trial run, I negotiated with the merchant service that they would have to waive any early termination fees. They agreed and put a 250.00 fee in the contract anyway. So on review I sent them back and told them they would have to remove it. The sales-man congratulated me for catching this in the fine print. What I didn’t realize is that there is a line that reads: Restocking/De-Conversion Fee (de-programming, supplies, shipping and handling cost, to close the merchant account) the cost was entered in and it looks like this. $ 795
    No decimal, I would defend my position that the decimal was removed when the other fee was removed, but I can’t prove it. Be aware of this bait and switch tactic. Even though I supplied the credit card terminal myself. I was informed that this number is $795.00 not $7.50, when I wanted to close the account. Even the word “dollars” is nowhere to be found. The fact that there is no decimal no zeros and no “dollars”, shows clear intent to over-ride my request that cancellation fees be waived as a condition of my approval of the contract. No other suppliers I have dealt with have blatantly attempted to defraud my request for a business start up contract I guess they got me in the fine print. Now I’m paying the monthly fees for a machine I don’t even use for another 2 years. Which is a few dollars less than paying the De-Programming Fee on the terminal I supplied.
    If this helps anyone else or if I can find out that there is any recourse, it would be greatly appreciated. VMS only tells me what a great rate they gave me. I would add “for the card reader I don’t use.”

  • Andrew

    Tried to cancel my service at the end of the 3 year period, only to be denied because I did not submit a 90 day written notice, so I was auto renewed for another year. When I called to ask where in the agreement that was stated, I was directed to an area that explained the early termination fee at the end of the three year contract. After arguing that this said nothing about a 90 day notice, I was then told it was on a different form with all their terms and conditions. a form that was sent with, but separate, from my initial agreement. This was all done online and there were no other forms besides the agreement that was signed, and I have all the original documents. I have examined every sheet, both signed and not, and there is NOTHING that states this information. I was however, given the option to buy out my one year contract for the same price as the 3 year buyout. No one was able to reproduce the documents that stated this 90 day notice. Save yourself the headaches and go with an upstanding company.

    Side note, they claim to match anyone’s rates or they end your contract free and let you go with them. They may be able to match rates but you still pay for it in the end with other fees.

  • Jackie Saah

    On 4/9/15 filled forms out to use VMS at 0.5% transaction fee. I was told that at any time I could discontinue use of VMS for any reason at the time I wasusing Transnational card services and never dis ontinued its use I compated rates and fees and fojnd VMS not to be cheaper they were attaching prices and fees not quoted. Sent certified letter stating I was discontinuing service with VMS, theyquoted me a discontinuing fee of 869.00. I asked them to show me in the contrace where the fee is because it isn’t in mine I have not received it as of today 10/3/15 I did receive a bill for 869.00. I purcbased my machine which was refurbished, and paid in cull for it. There needs to be a class action suit if one has not been filed if so include my name please.

  • rene ranieri

    When I agreed to lease a VMS machine, I was told that there was no contract for the processing services and I could change providers at any time

    When I recently contacted the company, I was told there was a 495.00 fee to cancel. That sure sounds like a contract to me !!!

    Also, I was told the fees would average 1%. They are much closer to 2. I was also told to fill out a long, pci compliance form, which I did. I am still being
    charged a monthly fee, because they supposedly don’t have any record of the completed form. Their practices are deceptive, and they keep finding ways to gouge my monthly bill.

    If your business is contacted by this company, hang up!

  • Jim

    If you get approached by this company to switch credit card services to them, RUN, don’t walk, away. In January, 2015, Their rep convinced me that my rate would be 2.26% ( 2.58% after fees ) which was about 1 point below what I was paying. My first statement came. Total rate was 4%! After complaining, to no avail, I discontinued using them. However, it has been impossible to negotiate a buyout with the leasing company ( Northern Leasing ). The rep for VMS glossed over the lease. Had I known it was for 48 months, I never would have signed it. The print is small. Normal leases are usually 12 months. It’s my fault for not doing proper research into this company. The treatment, or should I say non-treatment, I have received is unbelievable. The Attorney General Office will be my next contact.

  • Fred

    VMS is a membership and merchant based card company that charges $25 a month for member, and a club fee of an additional $10. It takes a long time to get money over $2000. My company does about $35,000 per month and about half is over $2000. I called to cancel and went with Heartland payment systems. VMS told me they would fax me the cancelation papers in October of 2014. After three calls they finally came through today 1/29/15.
    Unbelievable! On top of that they hit me with a bogus PCI non conformance fee of $30 and a CNP fanf/ license fee of $15. With all tolled it came to $82 for January, and I’m not even running cards through their system.
    The Heartland rep. told me that all of this is bogus.

    We (Hartland/me/VMS) are getting on a 3way conference today to clear these charges up and see if I can get some remuneration.

  • Becky

    Bunch of con artists and liars. I worked there for a few months and witnessed what kind of behavior they condone at this place. First of all, their advertisements are false and deceptive. They claim to have no cancellation fees, but if you read the contract in small print, it says you will be charged a $700 cancellation fee if you cancel within in the first two months. They also claim that they have an A+ with the Better Business Bureau, but they aren’t even signed up with the BBB!

    Sales reps are trained in used car salesman tactics to get customers to send in their monthly merchant ID statements and to get them to sign contracts that very day without taking time to consider their options. In fact, our training manager advised us to “stalk” people in order to get the statements from them. We were not to take NO for an answer from the customer, but we needed to find any way possible to overcome their objections.

    In fact, the funniest story I heard from another employee there was that the most successful sales rep there was an outright crook. Yes, he exceeded his sales quotas and made a ton of money, but then two months later, the company finds out that he had been lying to everyone he talked with.

    They have no business ethics either. The company has gotten in the cash advance business now and are trying to offer cash loans where you pay them back out of a certain percentage of your monthly credit card transactions. One guy applies and gets denied because he has THREE social security numbers. What does VMS do with this information? It keeps applying to other loan companies hoping that it will get approved before the company figures it out.

    If they behave in this manner, you can bet they don’t care one whit about your business. So next time you get a call from VMS, I suggest you tell them that you are doing only $100 in credit card transactions. Believe me, you’ll thank me for the headache and trouble down the road.

  • jgoc

    velocity merchant services, Downers Grove, IL, Pres. Dema Barakat
    I began receiving not quite daily calls from them/this number about a month ago (they must troll business filings)
    annoyed, i went to their website which has option to chat with customer service
    first time I contacted them, their rep had a female name (Jane ?), gave her my info including telephone number, expressed my displeasure with them violating the do not call registry and she said she would have my number removed from their call list. continued to get calls
    2nd time, I went to their website, chat with customer service again, alex g responded, said he would forward my number to the IT director “to remove you out of our system”, but a few days later got another call
    I suggest contacting both the IL Attorney General Lisa Madigan as well as the FTC to file complaints against VMS and Dema Barakat. using social media to expose their seemingly disregard for the law is another approach.

  • Bill

    This company engages in dishonest, and I believe, illegal practices. The contract does not disclose all fees as they should and as is required by law. They engage in high-pressure sales tactics. Thank goodness I can now accept credit cards with my tablet or phone.

    I have No contract. No monthly fees. And no obnoxious, lying salespeople like the one I dealt with at Velocity. I hope they go out of business VERY SOON.

    • Lorraine

      Bill, What was the name of the sales representative you dealt with, and when were you contacted? I’d be happy to go speak with him/her about your experience. As an employee of VMS, I’d also like to know what fees you were unable to find in our merchant application. I’m sure that everything’s spelled out in black-and-white (trust me, I’ve proofread the thing!), so if there’s some confusion about where to look, I’d be able to help. Best of luck to you. – Lorraine

  • Jason

    If you have a business that sales big ticket items, DO NOT USE VMS. Because once the grand total of your receipt is over the Highest Ticket Size, you have to go thought hell the get your money.

  • Malcolm M. Mayo

    I have been dealing with VMS since I started my business January 4th of this year. Everyone there has been more than helpful with answering my questions & assisting me no matter the time of day or night. I had a VERY pleasant experience an hour ago with one of their employees Jessica Valenzuela who assisted me with correcting something on my credit card reader. My contact there Karli Latham has answered my questions both day & night. I would HIGHLY recommend VMS to anyone who wants to deal with a professional top notch company. My company name is GREEN MOUNTAIN MIKE. My business is located in the Joppatowne Plaza Flea Market, 1000 Joppa Farm Road, Joppa, Maryland 21085. 443-257-4363. I sell Green Smoke Electronic Cigarettes & accesories. I can also be reached at my home 8481 Greenway Road, Pasadena, Maryland 21122. 410-255-2184 if anyone wants to verify this writing! Thank you and have a great day!

  • jon

    Iv’e been using VMS for almost two years now with no problems. There rates are lower than all the processors i tried before them. I thought i would put some input in after reading some of the other reviews. I would personally recommend them for any small business such as mine. I am going to be cancelling with VMS because we will be going out of business for a while until we find a new location. They were willing to suspend my account for that time frame for i think $10 or $15/m. If i chose to cancel, VMS was charging me a early termination fee but it was for no more than i originally asked what it would be when i first signed up. Customer service was always good when i called. No problems with VMS from me other than you have to wait 3 days for payment, but id rather wait then get less.

  • Lue

    VMS is a scam and deceptive company don’t go with VMS. They will try to give you any false information to get you switch over to them. I have my credit card merchant with Wellsfargo I never thought about switching because Wellsfargo have a next day deposit guarantee, that mean all your sales today will be available into your account the next day even on weekend. On the 13 of September one of Vms sale’s rep. contact me about their services, he told me that their rates are better which I agree, but I told him that do they have a next day deposit like Welsfargo and he told me yes we do, and we do everything wellsfargo do and we are better. We are the one who approve our customers ship you the machine andprocess everything on your acount. I was impress about it, but i told the sale’s rep. that I have a 48 months non-cancelable contract with Wellsfargo so I don’t want to pay Wellsfargo an early termination fees. The Sales rep from VMS told me that I will not have to pay for any termination fees because on VMS contract they also put the 48 months non-cancelable agreemnet just to scare cusotmers off so customer won’t cancel. I ask him again if he sure about it and he told me yea, he have a lot of experience about switching customers over who still have a contract and they don’t even have to pay anything. I thought since he was so sure he must mean what he said, so I ask to see their website and agree to move forward in switching to VMS. The sale rep. e-mail me with some papeworks through e-mail and he told me to click on the hihgtlighted line and just type my name. He told me that it just for and pre-approval process and told me that the 48 month non-cancelable on the form is just nothing just ignore it, so I just do as he said and didn’t care to read everything since the sale rep. still on the phone with me and told me just to do that. On Monday morning the VMS machine arrived I try to call the sale’s rep. but couldn’t so I left him a message, so he asked someone to call me to do a test on the new machine and send me a paper to my e-mail and tell me just to click on the hightlighted line and type my name and hang up. I try to call the sle’s rep again for the third time and finally got reach of him, Before I agree to go with VMS I already ask him about what to do with the Wellsfargo creditcard machine and he told me that I can just send it back to the address I got it from and faxed them a letter that I want to cancel and that should be all to it. I wasn’t sure so I call Wellsfargo about the cancellation and they told me that I have to pay $500 for early termination, so I call the VMS sale rep. again about what Wellsfargo told me, then he said even if I have to pay that $500 it is still a better choice to go with VMS, so I was mad because he told me that I shouldn’t have to pay anything now I have to pay $500? I’m not going to pay for that, so that’s when I could see that VMS is being deceptive, so I ask the sale’s rep again if they really have a next day deposit guarantee because I need that feature in my business, then he told me that it will take 24-48 hours to process and they are not processing on the weekend. So I decided to stick with Wellsfargo and fax VMS a camncellation form and send back their Creditcard machine that I have not even using. VMS call me and told me that they can not cancell my account because it is a 48 months non-cancelable. I told the VMS caller that Thier sale’ rep. was giving me false information regarding their services and contract so I’m not bind to it. They told me they will call me back to resolve the problem, but never resolve anything. When the machine got to VMS they rejected the shipment and did not accepted so fed-ex ship it back to me right now is still on the way. I faxe them another form giving them the the tracking # and to cancel my account but they still didn’t do anything about it. i call them about why they were not accepting their machine, they now saying that the machine is from Northern Leasing compny not their so they can not accepted I will have to be responsible for it. I told them that I didn’t even use it and beside their sale’s rep. was lying to me about agreement and services provided so why can’t VMS accepted the machine since they are the one who was sended me the machine. they just told me that they can’t take it and don’t accept anything in their office. VMS is a scam and deceptive company don’t bother to put yourself in my position where you have to dealt with these kinds of problem and running your business. I really don’t understand this VMS company. why can’t they stand for their words and be honest to their customers. i told them to cancel my account, but seem like they still trying to withraw money from my account, so I guess I will have to report this VMS company to the FTC. I already told them in my letter that if they don’t resolve this matter I will report them to FTC, but seem like they still hoping for me to keep their machine once is back and pay Wellsfargo a $500 termination fee. If they don’t close my account with them and completely resolve this matter I will take the next step to be resolve the way it should be. In conclusion PLESE DON”T SIGN WITH VMS THEY ARE A WHOLE BUNCH OF LIARS, WHO IS WAITING TO TIED YOU UP WITH THEIR LIES.

    • Lorraine

      Hey Lue, We always welcome feedback from our customers and appreciate you sharing your honest opinion about your experience with VMS. However, we looked into your account and spoke to your sales representative (Ernie) and want to clear some things up publicly. Some of what you’ve posted is misleading and has the potential to negatively influence others who might be here researching potential merchant services providers.

      1. When you first spoke to VMS, you were leasing a terminal and processing through Wells Fargo. Ernie, your rep, was able to offer you lower processing rates, fees and terminal leasing cost. You would have saved about $125 each month and $1,500/year with VMS when compared to WF.

      Your Rates Comparison:
      CREDIT CARD RATES: WF 2.22% VMS 1.39%
      DEBIT CARD RATES: WF 1.77% VMS 1.39%
      MONTHLY PCI FEE: WF $25 VMS $0
      LEASED EQUIPMENT: WF $40/mo. VMS $29.99/mo.

      2. When you asked about next-day deposits, we said we can’t match that service. Based on your business’s history, we were able to offer you Zero Delay funding that deposits your transactions the next evening at midnight, excluding weekends. Since you’d see a big savings in your processing costs due to your rate and equipment cost reduction with VMS, you told us that this arrangement would work for you. Industry Tip: Many times, places like Wells Fargo will offer you next-day deposits because, as your own bank, they take the risk of “fronting” you that money themselves even though the funds from your transactions haven’t yet arrived in their accounting system. They do this because, as your bank, they can always go back into your account and retrieve funds that didn’t clear. It’s a courtesy some banks offer to their business owner customers.

      3. Ernie, our underwriting department and our technical support team all reviewed your decision to lease a terminal through a company called Northern Leasing with you. They are a 3rd party service provider that helps us supply brand new processing equipment to customers that may not be ready to make the big financial investment that comes with purchasing a PCI compliant terminal of their own. We make a concerted effort to inform every customer that chooses to lease processing equipment about the lease agreement and the responsibilities you have as a lessee. Since you were already “leasing” equipment through FD, you could have checked your agreement with them to see how they handle equipment returns. Remember that for both WF and VMS, you are financing your terminal through a third party: with Wells Fargo, it’s through First Data Leasing; with VMS, it’s through Northern Leasing.

      4. We are currently working with you to get your merchant processing account straightened out to your satisfaction. However, you will need to work with Northern Leasing directly to sort out your agreement with them. I believe they have an option for you to buy out the remainder of your 48 month lease. If you are trying to mail your equipment back, they would be the company you’d need to send it to.

      5. After sending your cancellation letter in to Wells Fargo, their local sales rep offered to undercut our offering. You then sent a cancellation letter to VMS saying that you chose to stay with WF after you had already begun using your new terminal. If you wanted to see an even greater savings on your merchant account with us, you could have taken advantage of our meet or beat guarantee. It states if you received a competing offer for processing – in writing (from Wells Fargo) – that VMS can’t meet or beat in terms of savings, we can close your account free of charge. No need for a cancellation letter. Industry Tip: Any “free terminal” program will cost you more in the long run. Watch your statement for higher rates and lots of miscellaneous “equipment rental fees” tacked on to boot. The word “free” is too good to pass up for some folks even though it’s ultimately a raw deal.

      6. As for your representative being slow to get back to you, he was on leave from work for three weeks during that month. We apologize for any inconvenience this may have caused, but you would have been able to speak with a sales manager while he was away.

      You’re now in a difficult situation because you’ve signed contractual agreements with two separate merchant processing companies and two separate leasing companies. We have our support team working with you on your account to get things resolved to your satisfaction. But you’re still stuck with your equipment. If you have any questions regarding your merchant processing account, you can always call our Customer Care directly at 888-902-6227 x403. We’re working on your case as we speak. Industry Tip: Whichever processor you choose to work with in the future, be sure to read any agreements that are sent to you for signature. There’s always going to be stuff in there that you don’t feel comfortable with, so you’ve got to choose the company that meets your needs the best and the one that makes you feel the most comfortable.

  • lori

    velocity merchant services is a SCAM and FRAUD company do not go through them they have screwed us all and lied to us, when we signed up they said 3 times to us there are no cancellation fees, all of a sudden theres a $150 cancellation fee. they wont return our calls, let alone cancel our accounts without our notification to cancel and bill us the $150 fee. on top of the fraud they do they get you with all kinds of fees that arent in the contract. its a scam a fraudulent company and they have the most horrible service and very unprofessional. It needs to be shut down!

    • Lorraine

      I’m re-posting our response to this merchant’s complaint from Yahoo! Reviews. She was contacted immediately (almost a month ago) in an attempt to remedy her situation.

      Lorig: Thank you for your feedback. I apologize if there was any confusion in regards to your merchant account. We’ll do everything we can to accommodate your needs. I’ve spoken to our customer service team and am having them fax you a copy of your signed merchant agreement right away. In regards to a cancellation fee, our guarantee to all our customers states that if you receive a competing offer for processing – in writing – that we can’t meet or beat in terms of savings, we will close your account free of charge. As of today, you haven’t provided us with a competing offer to try and beat. To ease your frustration, we did offer to waive a portion of your cancellation fee, but you informed us afterwards that you did not want to cancel your account with us at that time. With that in mind, there was no reason for us to call you back. If you’ve changed your mind, we’re happy to work through the cancellation process with you. You can call your dedicated support specialist directly to get things straightened out: 888-902-6227 x403 We ll give you a call today and hope to resolve things to your satisfaction

  • donna

    velocity merchant services is one of the most honest and reliable credit card processing compnay because everything is personalbe and done under one roof i never have to call 5 different #’s to get an answer on any ? i may have at any time. they are constantly giving me the VERY BEST rates and added services and i have dealt with over 5 other companies throughout the years. i’ve also worked for a couple processors myself and none has ever given the service i recieve from this company i tell everyone about them.

  • Sumlee

    Does any one know how to get your monthly statement? I have been trying to get my monthly staement eversince I open my account with them since August 2011. I have been calling and kept they kept refering to extention to customer service extention 1300. Once I was connected to this Extention, I was kept on whole for a long time and the it gave me an option to press 1 for service to return my call. I have once spoke with a service and request monthly hard copy of my staement and I still have not receave it. I can not find a way to veiw it on line either. Help!

    • Lorraine

      Hey Sumlee,
      I work at Velocity Merchant Services as our Marketing Coordinator. Found your comment and thought I’d reply.

      If you are indeed processing with Velocity Merchant Services, our main number is 888-902-6227 and the extension for Customer Service is 300. We don’t have any extensions over 999 at the office.

      We send our statements on the last day of every month, so if you’ve not been receiving yours, call that number and see what’s up.

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