Payment Systems Corp. Review

Payment Systems Corp, also known as Merchant Processing Solutions, is a payment processor founded in California. Payment Systems Corp serves businesses of all sizes to help process credit, debit, check, and internet transactions. The company is headquartered in Los Angeles, and has offices in Dallas, Orlando, and San Diego. Payment Systems Corp is a registered ISO and MSP of Wells Fargo Bank.

• Services
  • Card Processing
  • Check Processing
  • Mobile Payments
  • E-Commerce and Virtual Terminal
  • Gift Cards
  • ATM
• Equipment
• Rates and Contract Terms
• Online Reputation

Services

Payment Systems Corp offers a variety of services for businesses, including card processing, check processing, mobile payments, e-commerce, gift cards, and ATM options. The paysysco.com website will take you to the company’s other websites depending on what services you are interested in learning more about.

Card Processing

Credit and debit card processing is handled via point-of-sale terminals available for lease from Payment Systems Corp. Major credit and debit cards are accepted. Some terminals offer EMV capabilities to accept cards with chips. Terminals may also include integrated PIN pads for easy acceptance of debit cards.

Check Processing

Payment Systems Corp offers Electronic Check Conversion with Guarantee for accepting checks at your business. To accept checks and convert them electronically, merchants swiped the check through a check reader and input identification information. If the check is approved, a receipt will print for the customer to sign, and you will receive funds within 48 hours. As long as merchants follow the electronic check conversion steps, businesses won’t be charged for any checks that bounce due to insufficient funds.

Mobile Payments

Payment Systems Corp offers MobilePay, allowing merchants to use a current smartphone to process transactions, email receipts, and access reports. Funds are generally deposited within 48 hours. MobilePay is PCI compliant, and works with smartphones and tablets.

E-Commerce and Virtual Terminal

Payment Systems Corp offers an E-Commerce Solution, providing customization options, ability to securely accept a variety of payments, ability to set up recurring payments and more.

For processing transactions with your computer, Payment Systems Corp can provide virtual terminal setup to help accept cards, achieve PCI compliance, set up recurring charges, create and process invoices, and track transactions.

Gift Cards

Payment Systems Corp’s gift card solutions allow merchants to create, sell, and process gift cards as easily as other transaction. Choose from pre-designed or custom cards that include your logo.

ATM

For merchants who’d like to provide an ATM in-store, Payment Systems Corp offers the NH-1500 Series ATM. The small, lightweight machine features an encrypting built-in PIN pad, an optional electronic lock, and intuitive, easy-to-use functions.

Additionally, Payment Systems Corp has industry-specific solutions designed to meet the needs of particular industries. Payment Systems Corp offers tailored solutions for:

• Beauty Salons
• Automotive
• E-Commerce Businesses
• Restaurants

Merchants interested in an industry-specific solution can contact Payment Systems Corp directly for detailed information.

Equipment

Payment Systems Corp leases the following terminals:

• VeriFone VX680
• VeriFoneVX520
• VeriFone Pinpad 1000SE
• First Data FD130
• First Data FD35 PIN pad 

Exact features vary by terminal, but may include backlit keys, LCD screens, EMV-ready technology, NFC technology, wireless connectivity, and built-in printers. On their Paysys Merchant website, Payment Systems Corp offers a PDF detailing the features and specifications for each terminal model available.

Rates and Contract Terms

Payment Systems Corp only publishes rates for MobilePay for transactions processed with a mobile device. MobilePay rates are as follows:

• Qualified swiped card rate: 1.00%
• Per transaction cost: $0.09
• Equipment cost: $0
• Activation fee: $150
• Monthly minimum: $0

Payment Systems Corp does not publish information about contract terms on their websites, but they do not offer month-to-month terms. Early termination fees apply for cancelling contracts.

Online Reputation

Payment Systems Corp, also known as Merchant Processing Solutions, LLC is not currently accredited with the Better Business Bureau, but does have a profile page with the BBB. The company currently has an F rating, the lowest possible. Payment Systems Corp has 157 complaints closed with the BBB in the past 3 years, with 99 closed in the past 12 months. 91 complaints are listed in the “Problems with Product/Service” category, 36 are in the “Advertising/Sales Issues” category, and 30 are listed under the “Billing/Collection Issues” category.

Details of complaints are not available.

Only 8 complaints are listed as resolved with assistance from the BBB. For 1 complaint, the BBB found that Payment Systems Corp made a good faith effort to resolve the complaint, but the merchant didn’t find the resolution satisfactory. In 1 complaint, the BBB found that Payment Systems Corp failed to resolve the merchant’s complaint. In 147 complaints, the BBB did not receive a response from Payment Systems Corp at all, indicating no known attempt by Payment Systems Corp to resolve those complaints.

Ripoff Report has directories of complaints under both Payment Systems Corp and Merchant Processing Solutions. For Payment Systems Corp, there are 48 negative reports, with reviewers complaining of deceptive sales tactics and outright lies, false information given about fees, fraudulent charges to merchants, unethical business practices, and unauthorized debits.

Under Merchant Processing, there are 137 negative reports, with reviewers complaining of unauthorized changes to contracts after signing, bait-and-switch tactics, excessive fees and charges, unauthorized debits including after account cancellation, and failing to provide promised services.

Yelp! corroborates the negative reviews, showing 17 one-star “featured” reviews. Reviewers allege being charged “inactivity fees” even while using the service, pushy and intimidating sales people, a $965 cancellation fee, misleading fee information, unauthorized debits, and scam practices.

Consumer Affairs also displays a range of negative reports about Payment Systems Corp, with 173 ratings currently leading to a one-star rating and the “Consumer Affairs Unaccredited” rating. Reviews complain of being harassed by sales people, being told one rate and charged another, hidden fees, refusal to deposit funds to merchants’ accounts, expensive equipment leasing fees, deceptive practices, changing contracts after signing, and inability to cancel accounts/contracts.