Wednesday, May 25th, 2022
Trust payments, previously called Secure Trading, is a vast merchant account provider based in London. This company was established in 1997 and is among the subsidiaries of the U.C. group.
This provider serves a bulk of standard risk e-commerce business ventures in the U.K. and the U.S. Trust Payments also partners with several acquiring banks. Although not mentioned on its website, online information indicates that the company has partnered with Elavon, Barclaycard, and Fiserv(previously first data).
Location and Ownership
On May 8, 2019, Trust payments announced a change in its ownership structure. Secure Trading became a division of Trust payments limited through an acquisition by Cordet Capital Partners LLP, an investment fund management firm.
Its headquarters office is at No.1 Royal Exchange, London, EC3V 3DG, with Daniel Holden as its CEO.
POS (Point of Sale)
Trust payments offer merchants a full suite of POS services. These solutions include countertop POS systems, contactless payment, mobile payment support, magstripe, and chip and pin entry. Their ability to receive payments in different currencies, 24/7 technical support for their POS solutions and omnichannel solutions are among the top-selling factors for trust payments.
The Better Business Bureau has no ratings for Trust Payments at the moment. Likewise, although BBB maintains a profile for Secure Trading located in Phoenix, it still has not yet assigned it a rating. In over three years, BBB has not received any complaints regarding Secure Trading, nor has the bureau received any informal reviews.
We, however, will not factor in the Better Business Bureau’s profile since Phoenix is not the primary location for Trust Payments.
Lawsuit and complaints
As of now, we have not found any notable class-action lawsuit filed against Secure trading. However, we advise any disgruntled merchants who may wish to pursue a non-litigious action against Trust payments may consider filing a complaint to the appropriate supervisory organizations.
We can only find five negative reviews regarding Trust Payment’s conduct when it comes to complaints. Moreover, three out of the five complaints accused the payments provider of being a fraud. Apart from these comments, there lacks both positive and negative feedback about the company.
This absence of merchant reviews makes it hard to know if the average Trust payment merchant is satisfied.
Terms of contract
Trust Payments offers merchant clients a one-year contract with automatic one-year term renewal without early termination fees and a limited liquidated damages-style premature termination fee. However, the merchant can only terminate the contract with a written notice 180 days before the end of the term. Moreover, the merchant will be responsible for monthly and transaction fee payments for the remainder of the contract.
Trust payments have not specified fees or rates in this agreement. Therefore merchants should consult Schedule 1 to know the additional per-transaction and monthly fees. Generally, there are no known complaints regarding the high cost of Trust Payments services. Thus we will assume merchants are satisfied with their pricing.
Is Trust Payments a good online Payments provider?
Trust payments rates as a reliable and secure merchant services provider. This company lack enough public feedback about its customer support and pricing, yet there lacks major transparency issues regarding its contract terms and marketing material.
This rating is subject to change when more information about Trust Payments is available.