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Quantum Merchant Credit Card Processing Services Complaint - Stay AWAY from these Vipers! Lies about fees are unreal!!!

Review by eileenmccoy5 on 2011-07-13
I signed up with these vampires after long long discussions with their sales representative Michael, (who I think may be a relative of the owner)...I explained how I as a brand new small restaurant owner was concerned about the item fees. At 30 to 40 cents a swipe, it would devaste my bottom line on transactions that I figured at about $7.00 each. I wanted credit and debit abilities because you really can't do business without it these days,

He told me that since he "felt an obligation to help (yes, I fell for that hook line and sinker) small businesses" he would forego the customary. 10 a transaction for their fee and I would only pay. 15 per swipe TOTAL, plus a percentage of 1.65. At $7-8 dollars, its the swipe fee, not the %, that I concerned with. Of course the "contract" was deliberately confusing, about 8 pages of fine print. All I wanted to do was get open (as it was, I opened aand spent a week without processing) Lies! Lies! Lies! Everytime I got a new statement, there were fees added on...$5, here, $10 there. PCI NON-compliance...PCI compliance, debit pass-tru, yah-da yah-da. Then when I complained, the owner comented that "his salesperson would NEVER have promised a fee like that because his company would make no money.

Trust me a BBB rating means nothing, as all they have to do is "reply" to a complaint, not do anything, and they still keep the grade! I am out nearly $900 and I still have to make monthly payments on the machine lease that I don't use for another 3 years. Listen and learn from my mistakes. RUN! RUN! RUN!
Comments:3 Replies - Latest reply on 2011-07-14
Posted by Anonymous on 2011-07-13:
If you are contractually tethered to them for 3 more years you have plenty of time to become better educated on the subject and research other options. Here's a link to get you started.

http://www.bing.com/search?q=newmercgantposmachinelaw&FORM=HPDTLB&PC=HPDTDF&QS=n
Posted by jktshff1 on 2011-07-14:
+10 ript. The Big Business Buddies do nothing but take care of their own.
Posted by Old Timer on 2011-07-14:
The market for merchant processors has shrunk a lot the last few years. They tried to under cut each other with lower fee's but that has them making very little profit now. So they have resorted to plain lies to steal new business and business from each other.

It's hard to believe an industry that handles billions of dollars in transactions has no regulation. They don't want regulation and have a very strong lobby in Washington to keep it out of their industry.

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