Vanco Payment Solutions Review

Category Breakdown
Sales & Marketing rated A
Costs & Contract rated A plus
Complaints & Service rated A
BBB Rating rated A plus

Overall Rating

A Rating


Formerly known as “Veracity Payment Solutions,” Vanco Payment Solutions ( is an Atlanta-based merchant account provider that began operations in 2006. The company changed its name in May 2014, when Veracity Payment Solutions purchased Vanco Services and rebranded itself under the Vanco name. Vanco appears to process its payments through the TSYS processing network.

This reviewer’s initial request for additional information about Veracity Payment Solutions and its business practices went unanswered by the company, both through phone calls and emails to the marketing department. As a result, we resorted to calling sales agents to obtain more information; however, many seemed to lack intimate knowledge of the business itself. From the information that we could gather, Vanco Payment Solutions appears to be a smaller company with about 20-50 employees. Vanco Payment Solutions is a registered ISO/MSP of Wells Fargo Bank, N.A. of Walnut Creek, California, and Synovus Bank of Columbus, Georgia. Kevin Lee is listed as the CEO of Vanco Payment Solutions.

Vanco Products and Services Industries Served
  • Debit and credit card processing
  • ACH processing
  • Gift and loyalty programs
  • Mobile phone processing
  • Online payment gateway
  • POS equipment
  • Retail
  • Mobile
  • E-commerce
  • Non-profit
  • Faith-based organizations
  • Professional services

Related: Find The Best Processor For Your Business Type

Sales & Marketing | A

Key Points – Sales & Marketing
Uses independent resellers? Yes
Promotes deceptive rate quotes? No
Discloses all important terms? No

Vanco Payment Solutions markets its credit card processing services in several different ways, including partnering with community banks and trade associations and hiring inside sales agents as well as outside independent sales agents. The utilization of independent sales agents would normally lower a provider’s rating, but Vanco appears to avoid most of the negative results of doing so. Additionally, Vanco does not appear to use any other misleading sales tactics or marketing in its official materials. We will therefore assign the company an “A” rating in this category for the time being.

Vanco Marketing Example

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Costs & Contract | A+

Key Points – Costs & Contract Terms
Swiped rate: Variable
Keyed-in rate: Variable
Termination fee: None
PCI compliance fee: Variable
Equipment lease: Variable

According to the agents with which we spoke, Vanco Payment Solutions offers month-to-month contracts with no cancellation fees. Processing rates and fees appear to vary according to each merchant’s processing volume and equipment needs. We were not able to obtain a merchant account agreement as of this review, so merchants are advised to thoroughly read and understand the terms of their Vanco merchant account agreement before signing. If you have any further information regarding Vanco’s merchant account agreement or fees, please leave it in the comment section below.

Related: Best Processors For Quickbooks Integration

Complaints & Service | A

Key Points – Complaints & Service
Total complaints: <10
Live customer support: Yes
Most common complaint: N/A

Vanco Payment Solutions appears to have only two public negative reviews. In the first review, a former agent complained of a bad experience in his employment, but the content of the complaint does not appear to indicate any widespread issues. The second complaint is from a longtime customer who was disappointed that Vanco charged them for terminal replacement following an equipment failure. Although Vanco did not appear to provide exceptional service for the second complainant, neither complaint indicates that Vanco has a major problem with customer service. Therefore, we will not dock Vanco’s score in this section. Vanco lists both phone and email support information on its website.

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BBB Report | A+

Key Points – BBB Report
Product/service: 0
Billing/collection: 1
Advertising/sales: 0
Guarantee/warranty: 0
Delivery: 0

Vanco Payments Solutions currently has two Better Business Bureau profiles, with one for Veracity Payment Solutions and the other for Vanco Payment Solutions. Both profiles are showing BBB accreditation. The profile for Veracity Payment Solutions is currently showing an “A+” rating, and the profile for Vanco also has an “A+” rating. The two profiles combined have only received one complaint in the past three years. This complaint was filed in relation to a billing or collection dispute and was resolved to the merchant’s satisfaction. Given this information, we agree with the BBB’s rating of “A+.”

Related: Best Processors For E-Commerce

Bottom Line

Vanco Review

Rated 4.8 out of 5 Stars
Reviewed by Phillip Parker
Reviewed on 2015-05-18

Vanco Payment Solutions appears to be an excellent merchant services provider and has maintained high marks since our previous update. Since we were not provided a merchant account agreement prior to the publishing of this review, it is recommended that you fully read and understand your merchant account agreement before signing.

This review was originally published on 1/4/13 and was last updated on 5/18/15.

Leave your review for Vanco Payment Solutions in the comment section below.

Phillip Parker is a former merchant services agent turned small business advocate and the author of "Fee Sweep," which teaches merchants how to dramatically lower their processing rates, eliminate junk fees, and avoid fine-print scams. He founded to help merchants enact positive change in the credit card processing industry. Schedule a Consultation with Phillip

Schedule a Consultation with Phillip

4 Reviews Leave Your Review Below

  1. Very very frustrated with Vanco.

    My old cc machine was no longer useful to me, we switched over to a VOIP phone line. In the interim I asked them to have sales contact me about getting Virtual Terminal set up. It’s been two weeks and no contact from them. I called twice in the past week with zero follow through.

    To work around I attempted to do a Voice Authorization however it will not post to my account without a machine. I ordered a machine from the famous auction site, contacted Vanco immediately to get a V Number build up started. This was last Thursday.

    I called once yesterday (Monday) about it, it was not established. ONCE AGAIN I requested to have a virtual terminal set up/have someone contact me. Neither the V Number is yet established after SEVERAL phone calls today nor have I been contacted by any one in their company about setting up an alternate system of payment. Meanwhile I have >$5k in charges pending with additional charges that need to be taken care of.

    I am beyond frustrated with Vanco at this point. If I was not overwhelmed with the business end of things I would immediately switch merchants. I overpay for this level of customer service (NONEXISTENT). I would NEVER ever recommend them. I’ve been dealing with this for over two weeks now and am nowhere near having this resolved.

    Are you with Vanco? Learn how to resolve this complaint.

  2. My personal experience with Vanco (their phone system still identifies themselves as Veracity) is totally at odds with the review provided by CPO. They may serve their business customers adequately, but their attention to users of the systems they provide their business customers has been sorely lacking in my case. If business customers want to risk poor customer relations as a result of contracting with Vanco, that is of course their decision.

  3. I had a problem with their equipment failing and they would not replace the terminal without charging me $95. I had been a reliable customer for many years with MTG and Verasity bought them out. Since the switch over, they will not back their equipment. Management wouldn’t speak to me or even send me a power cord to see if that was the problem. Needless to say, they lost me as a customer and soon my husbands business will drop them too. In todays economy it is important to keep your customers happy and they failed in that department. I’m sure another company will be more than happy to help us out.

  4. Can a business charge a customer $0.50 for a credit card purchase that is less than a certain amount? Is that legal?
    I made a charge card purchase today that was $14.05 and was told by the cashier that I was being charged $0.50 in addition to my charge total because it was under $40.
    Is this allowable by Veracity?
    Please advise.
    Thank you
    Veronica Kitayama

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