I knew there was a problem when I asked for a few names/numbers of agents using this system and I was given only the owner's son name as a successful field rep. Gee Thanks, he's impartial! This Company is really after the credit card processing with this EPS -90 System.
First off the company only guarantees 10% of the accepted checks. The merchant is responsible for the 90% of the total of all post dated checks accepted. Second the Company charges a 7.5 % Fee so, its obligation is only 2.5% of check total.
EXAMPLEIf a consumer buys $5000.00, on this program, EPS guarantees $500.00 of that money and charges $375.00 in up front fees and a few more miscellaneous charges. If the checks bounce they will pay you only $500.00 and your stuck with the other $4500.00 in bad checks. Thanks again! Sounds like a great business to earn 7.5% and only risk 2.5
Also, they really only want your $99.00 for 48 month money and your credit card processing in total. You are required to commit to the 4 year lease with them and switch to use their processing, its that simple. You pay $4,800.00 for a machine that cost $500.00 - $700.00 on the Internet.
Don't get fooled by this BS. If you want to extend 90 days to your customers do it without this company. They are not giving you anything for your money. You could get stuck with the checks and problem. Your liability and fees are much too high to consider using their system. If the company rebuts this, please address the facts listed above, not the usual patented non-sense.
0 comments