Payments Systems, Dallas, Carlsbad, LA and Orlando
Keith Olmo, Dean Snyder An explanation of what you are buying via a vendor and ex employee

I was duped by Payment Systems and let my rep know. He tried to help me out of my contract and was shocked by the results and quit. We have done our research and this is what I actually got.

I was sold a 1% rate. The analysis showed everything at 1% and pinned debit at 0%. This is how the agent was trained and manager swore to him and I over the phone that everything would fall in this rate unless it was a CEO card or some other virtually never seen high end card.

This is not true. I am charged 1% on every transaction along with interchange (the standard Visa/mastercard rate) as well. It is called ERR rate.

This site explains ERR
http://www.merchantsolutionsllc.com/err_rate_explained_defined/
this site shows interchange rate
http://usa. Visa.com/merchants/operations/interchange_rates.html

This caused my rate to be higher than what I was paying, plus I had a 109 dollar non-cancelable lease on top of that. Customer service was no help. On the second page of the contract is another gem. Besides the $395 cancellation fee I would also have to pay $25 dollars a month for the remainder of my contract. 4 years. Effective immediately upon canceling. This is why people are reporting $1600 cancellation fees.

The rep is a friend of mine. He had no idea what was really happening, because the company flat out lies to the reps just like customers. He truly thought he was selling a better deal, his manager swore on his kids over the speaker phone that nearly everything would fall in the 1% range and I'd save a ton of money. If you are using this company there is no way out of the contract short of a lawsuit. If someone from the company approaches you show them this post. Hopefully they don't really know what is going on and this will keep them from misleading other companies.

Just remember if it seems to good to be true it probably is. It is impossible to sell a rate cheaper than what Visa/Mastercard charge.

Company: Payments Systems, Dallas, Carlsbad, LA and Orlando
Country: USA
State: Texas
City: Dallas
Phone: 8888355306
Site: paymentsystemscorp.com

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