Mercury Payment Systems

Mercury Payment Systems
  • Editor Rating

  • Rated 3.5 stars
  • Very Good

  • Mercury Payment Systems
  • Reviewed by:
  • Published on:
  • Last modified: September 21, 2015
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Review Summary:

Mercury Payment Systems is a respected processor for merchants across the country. However they typically focused on larger installations and there are a number of drawbacks when compared against our top rated merchant service providers.

Mercury Payment Systems
  • Mercury Payment Systems
  • Rating: 3.5
  • Reviewed by:
  • Published on: February 25, 2015
  • Last modified: September 21, 2015

Review Summary:

Mercury Payment Systems is a respected processor for merchants across the country. However they typically focused on larger installations and there are a number of drawbacks when compared against our top rated merchant service providers.

View our Top Ranked Processor

Mercury Payment Systems (mercurypay.com) has been around since 2001 as a merchant payment provider. They are based out of Durango, Colorado, and are affiliated with the HSCB bank. Positives: MPS has worked hard to ensure that their service improves and evolves every year. They are partnered with more than 500 point of sale software vendors, in addition to 2500 point of sale Value Added Resellers. Not only do these partnerships enhance the company’s reputation, but they also allow them to offer great payment solutions.

Services – The services that MPS offers include integrated point of sale systems, mobile and tablet website solutions, integrated cash registers, and terminals. These services allow merchants to offer all kinds of payment options, such as debit cards, credit cards, PayPal, online check processing, and online wireless bank transfers. There are also loyalty card, gift card, and coupon programs that Mercury offers to its merchants.

BBB Rating – Mercury Payment Systems has a BBB profile with a very solid rating, and they have a secured online digital application. The video testimonials on their website demonstrate how customers view their services, and they offer some great discounts during certain parts of the year. They are also very adept at social media, with a Twitter account, a Blog, and a LinkedIn account. Not only does this show how accessible and transparent Mercury Payment Systems is, but it also allows customers and business partners to interact with them through social media. Their BBB profile on the internet comes with an A+ rating, which is very high for a merchant payment provider. They have only received 13-15 complaints in the past calendar year, which is remarkably low considering the large volume of services they provide. In fact, Mercury Payment Systems has only received 32 official complaints in the past 3 years.

Software – The payment gateways used by MPS are Authorize.net and Plug’n Pay, both of which have excellent reliability and security ratings. It is very easy to get a payment gateway set up on your website if you are going to be working with MPS. The MPS software is easy to download and can be used on Windows 7, Apple OS, Android and Apple smartphones. Transactions are straightforward to add and manage, allowing you to take a look at all your past sales. Refunds must be processed through MPS, but merchants can void transactions that buyers wish to be cancelled.

Before You Sign A Contract!

We recommend that all merchants speak with at least 2 processors before signing their contract. Why?…

First – You should feel comfortable with the sales representative, if you’re feeling pressure on the call or feel as though you are not a focus, it’s unlikely your experience will improve after signing your contract!

Second – Be wary of introductory rates (specifically qualified rates) in the initial pitch – each business is unique and the rates/fees that will actually save your business the most, are only available once the sales representative has learned about your business.

We currently have Cayan listed as our top ranked merchant service provider. However if they do not fit your needs, you can look through our full list of processors and find the one that is right for your business here.

Hardware – For merchants who are not based online, buying integrated POS and cash registers is very important. Instead of just having a terminal to process credit and debit card transactions, the integrated system allows for more payment possibilities. With the POS and cash register integration, transactions are processed quicker, fewer errors take place, and chargebacks are easier to process. MPS provides a 24/7 support system for those who have the POS system installed at their business. Pricing – When you are looking through the MPS pricing plan, read the fine print unless you want to pay fees that you were not expecting. There is a 2.5% fee for swiped transactions and a 3.5% fee for keyed transactions. If you go for the monthly plan, which has a pre-agreed monthly fee, you will receive lower fees.

Customer Service – The customer service department at Merchant Payment Services is excellent. When they are called to deal with a problem, most issues are resolved within a few hours. Their representatives are known to be polite, informed, patient, and very helpful.

Negatives: One concern some customers have had with Merchant Payment Systems is that they have a very high cancellation fee. It is reported that many website have had to pay up to $295 in cancellation fees when they did not want to continue with the service. While that is a very high amount, it is difficult to blame MPS for this. The cancellation fee is included in the contract that both parties agree to. Another slight issue with Merchant Payment Services is that there may be hidden fees and costs within their package. In this case, it is important to read the fine print of the agreement you sign with them. Some of these fees, such as statement fees and declined authorization fees, are not specified when you go through their package options.

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SMB Reviews
SMB Reviews 488 posts

SMBReviews is committed to providing small and mid-sized business owners with the information and resources they need to select the best service or product for their company.

Editor review

Costs
4.25/5
Sales
3/5
Customer Service
3.75/5
Ratings
4/5

3.75

Good
3.75
Summary

Mercury Payment Systems is a respected processor for merchants across the country. However they typically focused on larger installations and there are a number of drawbacks when compared against our top rated merchant service providers.

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1 Comment

  1. Lisa Mendoza
    June 17, 18:30 Reply
    Word of caution if you are going to process with Mercury, I would not. I had numerous problems with Mercury and the credit card terminals they provided which kept disconnecting or "unpairing" as it was called. <Name Redacted>, the sales rep, was so hot to obtain my business that he neglected to inform me of their cancellation fees. I had to provide a 30 day written notice to cancel my service or I would be charge a $295 fee for each account. I have three locations. I did not keep working with Mercury as a processor because I could not process any credit cards. The terminals kept going offline so I couldn't wait 30 days losing business. One day, I had three customers in line, waiting to pay, and we could not process their cards because the Mercury terminals were down. Mercury will not waive the fee because of breached the contract. Well, I feel Mercury in in breach of contract because I could not process any cards. I could not run my business. I have been communicating with the POS company about this matter and they are trying to assist me. I feel Vend and other POS companies should not be using Mercury as their processor. The Mercury customer service is unprofessional, rude and uncooperative.
  2. Mike Sherman
    January 10, 16:48 Reply
    Did all my card processing through virtual terminal with no problems except cost. Ridiculously expensive and difficult to get out of my agreement with them. As a small business I would try any other service before them
  3. Unfortunately our point-of-sale system called Vision Core came with Mercury payments built-in. We also use Chase paymentech for our credit card and debit processing.Far cheaper than Mercury Payments. When signing up with Mercury systems they promised to match Chases discount rates. It quickly came apparent that they were charging more. We discussed with Mercury payments about the overcharging but they never did match Chase payment rates. After 5.5 years we decided to cancel Mercury payments. I submitted by cancellation request and received confirmation October 25, 2015. I received a statement in November which was expected and an unexpected statement in December. Called and request they close the account Jan 20, 2016. Mercury emailed an invoice for $440 for account cancellation fee. There was no cancellation fee in my account setup 5.5 years ago. We looked my contract three years and three-year renewal automatically without any notice. Apart from the initial paperwork almost 6 years ago I've never signed or been contacted for contract renewals. I have six months left on my contract which would be $240 cancellation. Theives.
  4. DJ Armstrong
    February 04, 01:58 Reply
    ***YES….. HIDDEN FEES AND TERMINATION COSTS ARE ALL TRUE*** I will never use, nor recommend Mercury Payment, Global Payment, Vantiv Corp. or Comcash POS Systems to any merchant or professional person asking for my help. With terminology in reviews such as “rip off, worst company, loads of hidden fees, terrible company, don’t do business with Mercury Payment Systems, stay away from Mercury, crooked company, unethical, deceptive, unscrupulous” just to name a few. Now, a Class Action Suit? Wonderful. BOTTOM LINE…..DON’T DO IT.

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