Mercury Payment Systems is one of the larger players in the credit card processing industry. They accomplished this feat rather quickly having only incorporated in 2001. They are based out of Colorado, and have gained a significant portion of their market share through various partnerships with point of sale systems. They are currently rated A+ by the Better Business Bureau, with currently 13 outstanding complaints on file against them.
As with many of our other reviews, we were disappointed to find that many merchants while told there is no early cancellation fee when signing the contract, are eventually held to a $295 fee when they attempt to cancel there account. While Mercury claims those merchants who provide written notice 30 days in advance can have the fee waived, the experiences of various merchants on the internet dispute this claim.
Our research seems to dictate that many merchants comes across Mercury as a result of their interest in point of sale systems, Mercury has agreements with a number of point of sale providers to recommend their software as the installed version. if you are considering adding a point of sale system to your business, it is important to know that like any purchase you should review the options available and not sign with whatever merchant account provider is the one the point of sale provider “suggests”.
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