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Fidelity Payment Services

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Tuesday, April 24th, 2018
Best Payment Providers

What We Like

Only a handful of complaints and negative reviews have been given to Fidelity Payment Services. Its staff is professional, knowledgeable, and helpful.

What We Didn't Like

Fidelity Payment Services is a reseller that works with numerous processors, some of which charge high fees, and require lengthy contracts. Also, many of its partners charge hefty early termination fees.


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Marketing

Sales

Support

Pricing

Overall

Overview

Founded in 1996 and based in Brooklyn, New York, Fidelity Payment Services is one of the largest electronic payment providers in North America. It has branches in the United States, Canada, and the United Kingdom. Fidelity is a registered independent sales organization (ISO) of Wells Fargo Bank in Walnut Creek, CA and US Bank Minneapolis, MN. Also, it is an Elavon payments partner and registered merchant service provider/ISO of Elavon, Inc. in Georgia.

It markets merchant accounts and credit card processing services to merchants on behalf of several processors, including First Data, Chase Paymentech, and Elavon.

Recognizing that this industry is ever-changing and complex, Fidelity is proud that its management team has more than 100 years of combined experience in the payment services industry. It works with merchants in the retail, restaurant, hotel, professional, and mail order industries.

Fidelity Payment Services offers debit and credit card processing, mobile phone and ACH processing, QuickBooks integration, an online payment gateway, and a virtual terminal. Also, it offers equipment and hardware through its partners.

Its team works with merchants, analyzing processing statements for savings, training employees, reprogramming and installing all types of credit card systems, troubleshooting technical problems, fighting fraud and chargeback issues, and helping with bookkeeping and accounting issues. Most importantly, Fidelity Payment Services ensures a quality experience by have the same agent handle the sales and services of each account.

Marketing

When it comes to marketing and advertising, Fidelity Payment Services does not promote any deceptive rates, discounts, or promotions. It is active on Facebook and Twitter, using the platform to promote news and changes in the industry.

Though its site looks outdated and could use a complete design overhaul, it was easy to find information.

Honesty

Fidelity Payment Services does not outline all of its important terms and conditions. Though this is not dishonest, per se, it is evasive.

When talking to representatives, we found their explanations to be clear and trustworthy. Also, we found no complaints to the contrary.

Sales

In addition to being a reseller, Fidelity Payment Services hires its own sales team and employs independent sales agents. Oftentimes, when ISOs are used, the number of customer service complaints usually rise. There are plenty of reports floating in the digital space about resellers and ISOs using deceptive tactics to gain customers. For example, agents that have worked with Elavon, one of Fidelity’s many partners, have reported that they were not told about a number of hidden fees and terms. From what we have seen, there is no evidence that shows this is a problem with Fidelity.

Nevertheless, it is important to remember that when you work with a reseller, you often can expect to pay more because they can set their own fees.

Support

Fidelity Payment Services is available by phone and inquiry form. As previously mentioned, it uses social media but it does not use it to engage with customers. Also, it offers a separate inquiry form for those having a customer service issue.

Staff Responsiveness

In terms of responsiveness, Fidelity’s team was quick. With its prompt responses, we found Fidelity agents to be eager and interested without ever being aggressive or overly salesy. Less than an hour after submitting a “new account” inquiry form, we received a response encouraging us to call. Later that day, we received a follow-up response, asking if we preferred an agent calling us. When we did call, the response was flawless. There were not lost calls, no being patched from one department to the next, and no hesitation. It was very impressive.

Staff Interaction

The staff was pleasant, courteous, professional, knowledgeable, and helpful while discussing our needs and possible solutions. However, if you want concrete figures and information about terms, you need to be engaged with the process long enough for Fidelity to connect you with one of its processors. The in-house sales team was more than ready, yet never aggressive, to close in on the sale and take you to the next stage. No matter who we talked to we received similar information and we never felt rushed or pressured.

Pricing

Fidelity Payment Services discloses no pricing information on its site because it offers different contract terms, rates, and fees through its partnerships with several processors. On average, processing rates start at 1.9% plus 0.25p per transaction. Business type, past processing history, credit score, the processor you use, and other factors determine your final rates. Also, merchants can be charged a host of other things, including PCI compliance, returns, retrievals, chargebacks, and annual and monthly fees. Whether or not you pay any or all of these fees also depends on the processor.

Early Termination Fee

The length of the contract you sign, the terms, and any potential early termination fees won’t be known until you know your processor. Depending on which processor Fidelity connects you to, you could be facing an early termination fee of up to $500. In the industry, contracts can run from one to four years with automatic renewals. Penalties for closing an account early depends on what is outlined in your specific contract with your processor. Just as a point of reference, First Data offers a three-year contract and charges a merchant a £349 fee if you end the agreement before it expires. Elavon, on the other hand, charges no early termination fee if you cancel a customer agreement in compliance with the rights outlined in your contract. However, this only applies if you terminate the amount after operating under the contract for at least six months. Elavon doesn’t disclose how much a merchant will be charged if they break the agreement prior to the six months.

Despite all of this, we found no customer complaints that refer to Fidelity charging an early termination fee.

Hardware Costs

Fidelity Payment Services offers point-of-sale equipment, including hardware, software, and cash drawers, from its partners. It offers card scanners, pin pads, and credit card terminals from First Data, Pax, Verifone, Nurit, and Hypercom. All systems are PCI-compliant, and it has been reported that Fidelity offers real-time training and onsite installation. The costs for equipment, as well as any associated rates and terms, depends on which company you sign the contract.

For example, there are plenty of complaints about Elavon’s partnership with Ladco Leasing, a third party equipment rental business. Ladco is known for signing customers up for lengthy, expensive contracts that merchants can’t cancel.

As for software, Fidelity resells programs like Safe and QuickBooks. Customers will need to discuss specific costs about hardware or software with Fidelity directly.

Complaints

According to Google Reviews, there are 41 reviews for Fidelity Payment Services. Also, it has a 4.5-star rating on Google. Reviewers have applauded both its quick, helpful customer service and reasonable rates. Commenters also noted that any issues they experienced were handled promptly and efficiently. Only two of the reviews were negative. One reviewer called the salespeople he dealt with aggressive and “liars.” Another complained that she never heard back from the company after submitting all of the requested information. The company responded to each complaint with apologies and further explanations.

Since November 2015, only three complaints have been filed with the Better Business Bureau (BBB). The last complaint filed in February 2018 concerned a billing/collection issue. No details were available about the issue. The other two complaints were about sales/advertising and the other was about products and services. Due to the low volume of complaints, we agree with the BBB’s A+ rating.

Since it is a reseller that works with many backend processors, the number of complaints against Fidelity may not be completely accurate. Though Fidelity sold customers the products and services, clients may have posted negative comments about the processors when they had issues.

Though the number of complaints and negative reviews about Fidelity is small, Elavon has more than 150 complaints filed against it for failure to disclose fees and poor customer service. Thousands of customers have complained about First Data about hidden fees. These are important facts to remember when you decide to sign with a processor.

Regardless, it seems that when customers do experience problems, Fidelity resolves them quickly and efficiently.

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