Mercury Payment Systems Review

Mercury Payment Systems Review

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Overview:

Mercury Payment Systems (MPS), a merchant account provider, was established in 2001 and is based out of Durango, Colorado. They have been in the industry for long enough to have a decent reputation.

One of the great things about them is their very nice standing with BBB with very few complaints. Other features that I like about the company are their testimonial section which has many videos as well and that they also have onsite security features.

Furthermore, MPS offers transparent pricing (interchange-plus) and also seasonal downtime for the seasonal operators

You can also connect with them via LinkedIn or Twitter account. Additionally they have a Blog to educate merchants about the ins-and-outs of credit card processing.

Coming to reviews, check the online reviews for mercury payment systems below where you’ll find many first-hand users review.

To the downside they charge quite a high amount for an early termination. But they claim to drop the charges if they are given a 30-day written notification by the merchants prior to closing their account. Despite their claim some of the merchants have complained about being charged for cancellation with a fee of $295 about which they were not initially informed. To counter this, my suggestion for merchants is to find from the list of merchant providers in the industry that don’t charge for cancellation and offer great customer service and hold a very good reputation.

I have rated Mercury Payments System 4 out of 5 due to their cancellation fee and few complaints that look genuine.

Date Established:
2001.

Location:
Durango, Colorado.

Domain Name(s):
www.mercurypay.com.

Parent/Partner Company:
No parent company for Mercury Payment Systems.

Type:
Registered ISO/MSP.

Acquiring Bank(s) (Acquirer):
HSBC Bank.

Payment Processor(s):
Global Payments.

Payment Gateway(s):
Authorize.Net and Plug’n Pay.

Trust Symbols:
The MPS BBB profile has an “A+” rating as of this review, with 13 complaints in the last 36 months. They’re also a part of the BBB TrustLink program, which currently has one pretty bad review on it.

Negative Reviews:
I was able to find the following complaint on RipOffReport. The detailed complaints on the BBB are definitely worth a look as well.

Common Complaints:
Majority of the complaints filed against Mercury Payment System are about the unreasonable charges for cancellation. Interestingly almost all of these merchants are stating that the fee of $295 was charged for an early termination without provision of any earlier information in this regard. However as the fees have already been stated in the contract so it’s hard to blame the company for that.

Verifiable Testimonials/References:
They have several video testimonials spread across their site. Very, very cool!!

Security/Privacy:
Their site is “https” secured, but not sure if they have an SSL certificate through a third-party provider (i.e. McAfee, Verisign etc…).

Customer Service:

I found their customer service team very cooperative and helpful in answering all my questions. My past experience of working with Mercury Payment System was quite satisfactory. Their customer service has never disappointed me and they have done a good job here.

Contract Duration:
I was told that the MPS contract is month-to-month, but from the complaints that I’ve found online, it doesn’t seem like that’s the case.

Cancellation Fee:
According to my knowledge they will drop the cancellation charges of $295 if they are provided with a 30-day notification in writing before closing the account. Still be sure that you read all terms of the contract before signing as some merchants are complaining that they were not informed about the cancellation charges earlier.

Interchange-Plus Pricing:
They do offer interchange-plus.

Seasonal Downtime:
Seasonal downtime is also offered by MPS.

Product/Service Offering:
Retail (Credit/Debit), Gift & Loyalty, Check Conversion, Check Guarantee, e-Commerce, MOTO (Mail Order/Telephone Order).

Product/Service Specialty:
Grocery Stores, Retail Merchants, Restaurants, Quick Serve.

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2 Comments

  1. I’ve been using Mercury Payment systems for about a year and a half and one thing I’ve come to realize is that this company will nickel and dime you to death. There has been nothing but fees on top of fees. I run a small restaurant in a very competitive tourist/college area so it’s tough and these fees really add up. We haven’t had any problems with the credit card processing but it’s hard to make a profit when fees are piling up. On our most recent statement the additional junk fees were higher than the actually processing fees. Every time I contact Mercury to get these junk fees removed they always tell me the same thing: “We can remove the fees if you extend your contract.” This seems to be their strategy. Unfortunately you’ll be stuck in a never ending cycle of them adding additional fees and you constantly renewing your contract to get rid of said fees. Very, very shady business. Avoid them at all costs!!

  2. Remember, Mercury was owned by Vantiv for almost 2 years before the rebranding, so I think it s likely that its support system is integrated with, or at least modeled after, Vantiv s primary support system.

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