| Payments Systems |
| Payments Systems, Dallas, Carlsbad, LA and Orlando Keith Olmo, Dean Snyder An explanation of what you are buying via a vendor and ex employee Dallas, |
| 13th of Apr, 2011 by User867999 |
I was duped by Payment Systems and let my rep know. He tried to help me out of my contract and was shocked by the results and quit. We have done our research and this is what I actually got. I was sold a 1% rate. The analysis showed everything at 1% and pinned debit at 0%. This is how the agent was trained and manager swore to him and I over the phone that everything would fall in this rate unless it was a CEO card or some other virtually never seen high end card. This is not true. I am charged 1% on every transaction along with interchange (the standard Visa/mastercard rate) as well. It is called ERR rate. this site explains ERR
http://www.merchantsolutionsllc.com/err_rate_explained_defined/
this site shows interchange rate
http://usa.visa.com/merchants/operations/interchange_rates.html This caused my rate to be higher than what I was paying, plus I had a 109 dollar non-cancelable lease on top of that. Customer service was no help. On the second page of the contract is another gem. Besides the $395 cancellation fee I would also have to pay $25 dollars a month for the remainder of my contract. 4 years. Effective immediately upon canceling. This is why people are reporting $1600+ cancellation fees. The rep is a friend of mine. He had no idea what was really happening, because the company flat out lies to the reps just like customers. He truly thought he was selling a better deal, his manager swore on his kids over the speaker phone that nearly everything would fall in the 1% range and I'd save a ton of money. If you are using this company there is no way out of the contract short of a lawsuit. If someone from the company approaches you show them this post. Hopefully they don't really know what is going on and this will keep them from misleading other companies. Just remember if it seems to good to be true it probably is. It is impossible to sell a rate cheaper than what Visa/Mastercard charge. |
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Also defrauded by this unscrupulous outfit working under the name of Payment Systems. The sales reps name was Maria Been. Dean Snyder was listed as the General Sales Manager for Payment Systems in Dallas.
We also were promised savings from our current processor and encouraged to switch.
I have a copy of an agreement given to the Payment Systems sales rep in March of 2010. In multiple locations on the agreement/lease I wrote in that this would be for a month to month agreement and marked out any long term commitments... Well guess the savings are not there infact higher rates followed. We cancelled our agreement in March via certified mail. to Azura leasing and Payment systems.
I get a call on June 10, 2011 from Ladco Leasing telling me that I had to pay a $5000 if I wanted out of the lease. I asked her if she had a copy of my lease that I signed and would she send it to me. The copy she provided had been doctored up in several location, the changes I made had been poorly whited except for where I had drawn lines through some statements. The documents had been altered and my name forged on the personal guarantee. Luckily I had enough sense to make a copy of the agreement before the rep left the store.
It appears that Ladco/Payment Systems has been breaking the laws and scamming hardworking business owners for a while. They will keep on unless they are met with a classaction effort that hits them were it hurts... in the pocket book! They are raking in such big profits with this racket that they are probably thinking so what if they lose a few individual lawsuits. As long as the other 90% never bother to call them on their misdeeds they will keep at this racket!
"The only thing necessary for the the success of evil... is for good men to do nothing" |
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User867999 and AngryMerchant,
Thank you for sharing your experiences on this post. I work for an attorney who is currently investigating Payment Systems, and we are interested in obtaining any information or documents you may have regarding your own experiences with Payment Systems, as well as any information you may have about other people with similar experiences. Please contact me about this matter at [email protected]. |
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