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Volt Payments Review
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Note: As of September 2021, it appears this company is no longer active. Their website has been down for an extended time, no activity from the company was found online, and the Better Business Bureau has added a note saying the company is out of business. We will therefore no longer be updating this review.
A Subsidiary of The Federated Group
Founded in 2013, Volt Payments is a merchant account provider that is active in both the U.S. and Canada. Volt is a subsidiary of The Federated Group, a network of payment processing companies that includes Federated Payments, National Debit Card Network, MSI Canada, U.S. Bankcard Center, and Wholesale Merchant Services Canada. As of this update, the website for Volt Payments does not appear to be active. We speculate the company may no longer be in operation. We will therefore no longer be updating this review. It should be noted that
Headquartered in New York
Volt Payments is a registered ISO/MSP of Deutsche Bank AG, New York, and shares its headquarters with Federated Payments at 1 Huntington Quadrangle Suite 4C01, Melville, New York 11747. We have also come across the address 440 Laurier Ave West – Ste 200, Ottawa, Ontario, K1R 7X6, Canada, for the company. The Volt Payments website does not disclose the identities of its executive leadership team, but third-party resources list Jon Levitt, the CEO of Federated Payments, as the CEO of Volt. In addition, the only author to have posted on the site’s blog is Greg Slote, the vice president of marketing and corporate communications at Federated Payments. It therefore seems very likely that the two companies share at least some employees, offices, and resources.
Volt Payments Review Table of Contents
- Costs & Contract: Volt Payments appears to offer a three-year contract with an early termination fee of up to $395.
- Complaints & Service: Volt Payments has received more than 10 public complaints.
- BBB Rating: Volt Payments has no rating with the BBB and has received 0 complaints and 0 reviews in the past 3 years. The company was formerly accredited by the Better Business Bureau since 2016, but the BBB has removed their accreditation.
- Sales & Marketing: Volt Payments appears to hire independently contracted agents and has received a handful of complaints about its sales team.
- Rates & Fees: How Merchants Got The Best Rates With Volt Payments
Volt Payments Customer Reviews
Here's What Their Clients Say
|Total Online Complaints||10+|
|Live Customer Support||Yes|
|Most Common Complaint||Hidden Fees|
Low Complaint Total
We are currently able to locate more than 10 negative Volt Payments reviews, and 7 of these complaints accuse the company of being a scam or a ripoff. As noted above, these complaints have been posted by merchants and former employees of the company, and they describe unethical sales tactics, expensive contract terms, undisclosed fees, and an unprofessional work environment.
Volt Payments Lawsuits
We have not found any outstanding class-action lawsuits or FTC complaints filed against Volt Payments. Dissatisfied merchants who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations.
Volt Payments Customer Support Options
Volt Payments offers 24/7/365 phone support. Although Volt Payments has received far fewer complaints than Federated Payments has, the fact that both companies share owners and resources suggests that some of Federated Payments’ 50-plus negative reviews are also relevant to our evaluation of Volt Payments. This has lowered the company’s grade in this section to a “C” and ruled it out as a top processor for customer service.
Volt Payments Online Ratings
Here's How They Rate Online
|Product & Service Complaints||0|
|Billing & Collection Complaints||0|
|Advertising & Sales Complaints||0|
|Guarantee & Warranty Complaints||0|
Under 10 Complaints
Volt Payments currently has no rating with the Better Business Bureau and is not accredited, though it previously received an “A+” and was accredited since January 2016. The company has received no complaints in the last 36 months.
What Merchants Say
As of this update, Volt Payments did not have any reviews on its BBB profile. Our previous update included 1 negative informal review on its BBB profile, which cited undisclosed fees:
The entire process of getting you signed up is based on not providing and disclosing all the hidden fees. VOLT’s sales rep PHILIP JOY lied about entire system of hidden fees. We were told multiple times that we will not be charged any hidden fees for canceling an account with VOLT PAYMENTS. After receiving a paperwork and reviewing it we were just finding one hidden fee after another. Than of course we decided to give them a call and requested not to proceed our application. And the answer as that they our signatures and that gives them a right to charge us $299 termination fee. TERMINATION FEE ON ACCOUNT THAT HASN’T BEEN SET UP YET. As a small business owner, I can say that this was so much head ache and frustration. I was actually glad that i didn’t end up having a business with them. The worst business transaction me and my company had.
Merchants in this position could benefit from taking the steps to cancel a merchant account without paying a fee.
An “A” Performance
We agree with the BBB’s previous assessment that Volt’s complaint total relative to its size falls within the range of an “A” rating.
Volt Payments Fees, Rates & Costs
A Closer Look at The Contract
|Swiped Rate||1.00% - 4.99%|
|Keyed-in Rate||1.00% - 4.99%|
|Virtual Terminal Rate||1.00% - 4.99%|
|Payment Gateway Fee||Undisclosed|
|Monthly Statement Fee||$5.95|
|Early Termination Fee||$395|
|PCI Compliance Fee||$80 - $200|
Volt Payments does not disclose its standard pricing and contract terms on its website. However, there is one very detailed complaint from a former employee that lists the company’s fees as of July 2014. This employee states that the standard Volt Payments contract is a three to five-year agreement with automatic renewal for one-year terms, an early termination fee of $395, a variable monthly minimum fee, a variable annual fee, a PCI compliance fee between $80 and $200, and tiered pricing.
Virtual Terminal and Payment Gateway Pricing
In addition to its storefront payment processing services, Volt Payments also dedicates a portion of its website to advertising its virtual terminal and payment gateway, which it refers to as the SafePay eCommerce Gateway. However, pricing is not disclosed on either of those services. Additional rates and fees, including gateway fees, technical support fees, batch fees, and additional transaction rates typically apply to these e-commerce services.
Other Fees Or Leases
The former employee also states that Volt’s standard quote sheet presented at the time of sale usually omits a number of standard fees. Neither this complaint nor any other complaints mention long-term equipment leases offered by Volt, so it appears that the company either offers free equipment or sells its equipment outright.
Consistent With Other Reports
This complaint is similar to complaints that have been posted about Federated Payments, and it indicates that Volt Payments offers industry-average contract terms. We do not consider the company to be a budget-friendly credit card processor at this time, and we will therefore assign Volt a “C” rating in this section.
Volt Payments Employee Reviews & Sales Tacitcs
Should You Work For Them?
|Employs Independent Resellers||Yes|
|Advertises Deceptive Rates||No|
|Discloses All Important Terms||No|
Outside Sales Team
Like Federated Payments, Volt Payments appears to employ a combination of telephone appointment setters and independently contracted outside sales agents to market its services. This combination is typically linked to elevated complaint totals within the credit card industry. Volt appears to be no exception, as we are currently able to locate a handful of Volt Payments complaints that describe unethical conduct by the company’s sales team.
Most of these complaints have been posted by former employees of Volt Payments. Here is an excerpt from one such complaint:
ATTENTION – Volt Payments, www.voltpayments.com and National Debit Card Network, www.nationaldebitcardnetwork.com is a scam. These two companies are just a new façade for Federated Payment Systems, ran by Jon Levitt and Scott Avery. This is another pathetic attempt to hide from a disgusting reputation.
Federated Payments has 5 other company names on its doors. All in an attempt to defraud merchants and sales people. They will even go so low as to contact businesses who previously had accounts with Federated Payments and try to rekindle relationships under a different name. The tactic is simple: Federated Payments will close a merchant’s account. Either because the merchant gets fed-up with the lies or poor service, or Federated closes the account intentionally. They then charge a cancellation fee, and then pitch the very same merchant, but under a different name. Just look at the websites – all located at 2 Huntington Quad, 3rd Floor.
They do the same thing with sales people. They will send out mass emails to everyone who has ever worked for them, but under a different company name such as Volt Payments or National Debit Card Network and try to fool these sales people into selling for them again.
We can independently confirm that Volt Payments and National Debit Card Network have aggressively advertised sales positions on job search websites. These job listings do not mention the companies’ affiliations with each other or with Federated Payments.
Other Sales Complaints
Other employee complaints mention an unprofessional work environment and intentional nondisclosure of important contract terms. Employee complaints like these do not reflect positively on any company, and Federated Payments already has a negative reputation when it comes to its sales and marketing tactics. We have therefore assigned Volt Payments a rating of “D” in this section. If you suspect that Volt Payments is charging you undisclosed fees, we recommend seeking a third-party statement audit.
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