Cynergy Data Review

Cynergy Data is owned by the Comvest Group, a private investment firm, and has offices in New York and Georgia.  The company currently works with over 100,000 customers and processes approximately $10 billion in transactions per year. This Cynergy Data review and profile will take a look at the services it offers and who’s saying what about this company.

• What payment services does Cynergy Data provide?
  • Card Processing
  • Checks
  • Gift Cards
  • E-Commerce
  • Vwalaa! Mobile Pay
  • Recurring Payments
  • Retail and Restaurant Integrated Solutions
• Any help with reporting?
• How about equipment through Cynergy Data?
• What about PCI compliance and security?
• Cynergy Data Rates and Fees
• Cynergy Data Reviews

What payment services does Cynergy Data provide?

Cynergy Data boasts that if you accept it, they will process it. This applies to both credit and debit cards. In addition to card processing, Cynergy Data offers services to process checks, gift cards, e-commerce, mobile, and recurring payments. The company also has a retail and restaurant integrated POS solution.

Card Processing

Cynergy Data allows you to accept major credit cards, including Visa, MasterCard, American Express, Discover, and JCB. The company has a range of traditional and mobile terminals for clients. Additionally, you can also accept EBT cards.

Checks

Cynergy Data offers Check Verification and Guarantee services to make accepting checks safe for businesses. Check imaging can convert paper checks to electronic checks and allow funds to be deposited electronically to your account.

Gift Cards

Cynergy Data offers clients the ability to customize gift cards with name and logo or choose from several pre-designed cards.

E-Commerce

Cynergy Data offers e-commerce solutions to allow businesses to accept payments online from almost anywhere. Payments are secured with SSL encryption and can be processed using the popular Authorize.Net gateway.

Vwalaa! Mobile Pay

Cynergy Data offers mobile payment options with Vwalaa! Mobile Pay, a compact card reader that plugs into the audio port of many popular mobile devices (such as smartphones and tablets). It allows you to accept payments right from the mobile device. You can accept credit and debit cards or cash, as well as process voids and refunds. Payments are securely swiped through the card reader, which may result in better processing rates. Receipts are stored in the Vwalaa! online portal or can be printed or emailed to customers. Reporting is also available in the online portal.

Recurring Payments

For accepting recurring payments, such as subscriptions, gym memberships, or other recurring payments, Cynergy Data offers the ability to set up monthly payments with direct debit. Payments are drafted against a regular schedule and funds are electronically deposited directly into your account.

Retail and Restaurant Integrated Solution

Cynergy Data partners with AccuPOS to offer a full-featured processing platform for retail and restaurant industries. Customize screens, run detailed reports, track information, and more. AccuPOS integrates with accounting software, including popular programs like QuickBooks and Peachtree Accounting.

Any help with reporting?

Cynergy Data offers VIMAS Plus, a secure internet portal where you can manage your business with ease. VIMAS Plus provides access to monthly statements, reports for daily and monthly transactions by card type, a terminal reference quick guide, and the ability to set alerts for confirmation of account activity like deposits and chargebacks.

How about equipment through Cynergy Data?

Cynergy Data offers a range of terminals in popular brands like Dejavoo, VeriFone, and Hypercom. Features vary by model but are all countertop devices designed for use in-store. Some options include integrated PIN pads, backlit keys, LCD screens, PCI compliant functions, EMV capability, wireless connectivity, electronic signature capture, and more.

What about PCI compliance and security?

To help you achieve PCI compliance, Cynergy Data offers an online Self-Assessment Questionnaire available through the VIMAS online portal. Upon completing the questionnaire, your compliance is automatically certified with the Card Associations, helping ease the compliance process. Cynergy Data notifies clients when they need to complete compliance steps, and provides detailed instructions available for download.

Cynergy Data Rates and Fees

Cynergy Data doesn’t publish rate information on their website. Rates will vary from business to business, and depend on a number of factors, including processing type, volume, and more. To get a fully disclosed quote from Cynergy Data, request one at the top of this profile. (Note, you’ll need to be logged in to your CardFellow account. Don’t have one yet? Sign up for free.)

By requesting quotes through CardFellow, you can easily and privately compare processors without the hassle of pushy sales representatives. If you need to reach out to them, you can do so but on your terms.

Cynergy Data Reviews

Cynergy Data, LLC is not currently accredited by the Better Business Bureau, but does have a profile page with the BBB. Cynergy Data currently has a C- rating, most likely because of failure to respond to 9 complaints. The company has had 30 complaints lodged with the BBB in the past 3 years. The BBB has a note about the complaints that states businesses don’t receive the quality of service they are expecting. The BBB notes businesses complain of inability to cancel accounts with Cynergy Data, dealing with higher rates and additional charges, and refusal to provide copies of contracts.

Other complaints claim unexplained and hidden charges, deceptive practices, and referring customers to collections without prior warning. Ripoff Report lists 21 reviews for Cynergy Data that echo the BBB complaints. Reviewers claim that the company is dishonest, difficult to work with, and charges hidden fees. 6 Yelp reviewers leave Cynergy Data 1 star, the lowest it can go, and many similar gripes.

Cynergy Data doesn’t list any testimonials on their website, but the site boasts the following awards:

• One of Inc. Magazine’s fastest growing privately-held companies in America
• 2008 Entrepreneur of the Year from Ernst & Young
• 2008 Hall of Fame recognition from Inc. 500