Summit Merchant Solutions Review

Summit Merchant Solutions operates as a merchant account provider under the Certified Payment Processing (CPP) brand and is a subsidiary of First American Payment Systems. The company provides a variety of payment processing services tailored for small to medium-sized businesses, such as credit card processing, mobile payments, and e-commerce solutions.

Company Overview

Summit Merchant Solutions was founded in the year 2006. It acts as a direct branch of Certified Payment Processing and is affiliated with the network of First American Payment Systems. Throughout time, Summit has built a strong reputation in the payment processing sector for its service options and business ethics.

Summit Merchant Solutions is headquartered in Carrollton, Texas. The company can be reached via its main contact number at 877-288-6525, and their physical address is 3350 Boyington Drive, Carrollton, TX 75006.

Summit is owned by First American Payment Systems and is closely associated with other CPP subsidiaries, such as TransTech Merchant Group. These affiliations impact its business model and service delivery.

Summit Merchant Solutions offers a wide range of payment processing services, such as POS systems, mobile payment options, check scanning, inventory management, gift and loyalty programs, ATM placement, e-commerce solutions, and recurring billing. The company’s main focus is providing these services to small and medium-sized businesses in order to efficiently and effectively meet a variety of payment processing needs.

Services Provided

Summit Merchant Solutions offers a comprehensive suite of services to meet the diverse needs of small and medium-sized businesses.

Credit Card Processing

Summit Merchant Solutions enables businesses to accept various credit and debit card payments, providing a secure and efficient way to handle transactions. This service supports major card brands and ensures smooth processing for in-person and online sales.

ACH Payments

ACH payments enable businesses to conduct electronic transactions seamlessly between bank accounts. This service is perfect for regular billing and large transactions, providing a budget-friendly option to regular credit card payments.

Mobile Payment Solutions

With the rise of mobile commerce, Summit Merchant Solutions provides mobile payment solutions that allow businesses to accept payments via smartphones and tablets. This flexibility ensures that businesses can cater to customers who prefer using mobile payment methods.

POS Systems

Summit Merchant Solutions provides cutting-edge Point-of-Sale (POS) systems that smoothly integrate with other aspects of business operations. These systems streamline business processes by managing sales transactions, inventory, customer data, and reporting, improving operational efficiency.

E-Commerce Solutions

For businesses operating online, Summit Merchant Solutions delivers e-commerce payment processing services. These solutions support secure online transactions, enabling businesses to efficiently manage and process payments through their websites, ensuring a smooth shopping experience for customers.

Customer Support Options

Summit Merchant Solutions prioritizes customer support, providing various channels to help businesses. Available support options include telephone assistance within the country during regular working hours, a detailed knowledge base for documentation, and live one-on-one support through the internet. This guarantees that companies can promptly address any issues or inquiries regarding their payment processing requirements.

Pricing and Fees

Summit Merchant Solutions employs a tiered pricing model with various fees associated with their services. Understanding these fees is crucial for businesses considering their services.

Setup Fees

Summit Merchant Solutions does not charge a setup fee, making it accessible for businesses that are just starting and looking to minimize initial costs.

Transaction Fees

The fees for transactions at Summit Merchant Solutions vary and are based on the type of transaction. They utilize a tiered pricing structure, where the prices can differ greatly depending on the amount and type of transactions handled.

Monthly Fees

The specific monthly fees charged by Summit Merchant Solutions are not publicly disclosed. This lack of transparency can make it challenging for businesses to anticipate their monthly expenses fully.

PCI Compliance Fees

An annual PCI compliance fee is charged, which is typically over $120. This fee ensures that the business meets the required standards for processing card payments securely.

Early Termination Fees

Summit Merchant Solutions enforces a significant $495 fee for early termination. This charge is imposed when a company chooses to end the agreement early, and it can be an important factor for businesses seeking adaptability.

Comparison with Industry Standards

Compared to industry standards, the fees and pricing structure of Summit Merchant Solutions can be seen as less transparent and potentially more expensive, especially with the high early termination fee and undisclosed monthly fees. Many competitors offer more clarity in their pricing and may not charge as high for early termination or PCI compliance.

Contract Terms

Summit Merchant Solutions typically offers a standard contract length of three years. This duration can be quite restrictive for businesses seeking more flexibility in their merchant service agreements.

Length of Contracts

The standard contract duration with Summit Merchant Solutions is three years. This long-term commitment can be a drawback for businesses that prefer shorter or more flexible agreements.

Renewal Policies

Renewal policies typically renew automatically unless the merchant decides to cancel the service before the contract term ends. This indicates that businesses must take proactive steps to manage their contracts in order to prevent renewals they do not want.

Termination Policies and Fees

Summit Merchant Solutions imposes a significant early termination fee of $495. This fee can be a substantial financial burden for businesses that need to end their contract early due to dissatisfaction or changing business needs. It’s important for businesses to be aware of this penalty before signing up.

Equipment Leasing Terms

The equipment leasing terms with Summit Merchant Solutions are also notable. Merchants are often locked into 48-month non-cancelable leases for their POS equipment. This long-term leasing agreement can lead to additional costs and complications if the business decides to change providers or no longer needs the equipment.

Customer Reviews and Feedback

Summit Merchant Solutions has been the subject of both positive and negative feedback from both customers and employees. Positive feedback frequently emphasizes the extensive range of services provided by the company and the supportive nature of its staff. Yet, negative feedback is more widespread, citing issues such as undisclosed charges, subpar customer support, and deceptive sales strategies.

Positive Feedback and Testimonials

Some customers appreciate the wide array of payment processing solutions and the ease of integrating these services into their business operations. They also commend the responsive customer support available through multiple channels.

Common Complaints and Issues

Common issues reported by customers include unexpected charges, difficulty in canceling services, and inadequate disclosure of contract terms. Many users have expressed frustration with high early termination fees and long-term equipment leases.

Analysis of Online Reviews

Online reviews on websites like Glassdoor and Indeed show that workers are unhappy with the company’s management style and workplace atmosphere. Numerous workers highlight inadequate training, insufficient support, and unattainable sales goals as major disadvantages.

Case Examples of Customer Experiences

Several customers have shared experiences of being overcharged and facing challenges in resolving disputes with the company. For instance, users have reported being billed for services they did not receive and encountering difficulties when trying to cancel their accounts.

Overall, while Summit Merchant Solutions offers a broad range of services, customer feedback indicates significant areas for improvement, particularly in transparency and customer service​.

Sales Practices

Summit Merchant Solutions has garnered significant attention for its sales practices, which have been a source of both praise and criticism.

Sales Strategies and Tactics

The company utilizes a variety of sales strategies, primarily relying on telemarketing and independent sales agents. These agents are often tasked with cold calling and visiting potential clients without prior appointments. This aggressive approach aims to quickly expand their customer base but has led to numerous complaints about high-pressure sales tactics and persistent follow-ups.

Agent Recruitment and Training

Summit Merchant Solutions enlists numerous independent sales agents. Nevertheless, numerous agents have expressed discontent with the training they have received. Previous staff members often mention insufficient training and a lack of managerial support as factors that lead to high rates of employee turnover. Focusing solely on quick sales and commissions may result in a lack of thorough knowledge about the services provided.

Customer Acquisition Methods

The primary method for acquiring customers is through telemarketing and in-person sales visits. Agents often target small and medium-sized businesses, promoting the benefits of Summit’s payment processing solutions. Despite the effectiveness of this approach in gaining new customers, it has also led to many complaints regarding the transparency and ethics of these practices.

Transparency and Ethical Concerns

A significant issue with Summit Merchant Solutions is the lack of transparency in their sales process. Many customers have reported undisclosed fees and long-term contracts that were not clearly explained during the sales pitch. This reputation is due to unethical sales practices, including many complaints regarding deceptive marketing and undisclosed fees. Sometimes, the company’s emphasis on quick sales can take priority over the importance of transparent and truthful communication with potential customers.

Pros and Cons

Pros:

Range of Services
Summit Merchant Solutions offers a comprehensive suite of services, including credit card processing, mobile payment solutions, POS systems, and e-commerce solutions. This variety allows businesses to find solutions tailored to their needs.

Domestic Phone Support
The company provides domestic phone support during business hours, ensuring that customers can get assistance when needed.

Knowledge Base Documentation
Summit Merchant Solutions maintains a robust knowledge base, offering documentation to help users troubleshoot issues and understand their services better.

Live Online Assistance
Customers can also access live online support, providing real-time help to resolve any problems they encounter.

Cons:

Long-term Contracts
One of the major drawbacks is the requirement for long-term contracts, typically lasting three years. This can be restrictive for businesses looking for more flexibility.

High Early Termination Fees
The company charges a significant early termination fee, often around $495, which can be a considerable burden for businesses wishing to cancel their service early.

Lack of Transparency in Pricing
Many customers have reported that Summit Merchant Solutions lacks transparency in its pricing structure, leading to unexpected fees and charges.

Poor Customer Service Reports
Numerous reviews indicate dissatisfaction with the customer service, citing issues such as unresponsiveness and inadequate support.

Overall, Summit Merchant Solutions offers a wide variety of services and support choices but customers are worried about the extended contracts, expensive termination fees, and unclear pricing.

Comparison with Competitors

When evaluating Summit Merchant Solutions, it’s essential to compare it with major competitors in the payment processing industry. This comparison helps highlight its unique selling points and disadvantages.

Major Competitors in the Industry

Summit Merchant Solutions faces competition from several established players, including Square, PayPal, Clover, and Merchant One. Each of these companies offers a range of payment processing services with varying fee structures and contract terms.

How Summit Merchant Solutions Stacks Up Against Them

Summit Merchant Solutions provides a variety of services such as credit card processing, mobile payments, and POS systems, in comparison to other companies in the industry. Nevertheless, it frequently lacks transparency and fails to meet customer satisfaction. Square and PayPal, recognized for their simple pricing structures and user-friendly interfaces, cater to small and medium-sized businesses seeking uncomplicated solutions.

Unique Selling Points and Disadvantages

Unique Selling Points:

Range of Services: Summit Merchant Solutions provides a comprehensive suite of payment processing services tailored for different business needs.

Domestic Phone Support: The company offers domestic phone support during business hours, ensuring timely assistance for customers.

Live Online Assistance: Customers can access real-time support through live online assistance, enhancing the overall service experience.

Disadvantages:

Long-Term Contracts: Summit Merchant Solutions typically requires a three-year contract, which can be restrictive for businesses seeking more flexibility.

High Early Termination Fees: The company imposes substantial early termination fees, which can be a financial burden for businesses wanting to switch providers.

Lack of Transparency in Pricing: Customers frequently report hidden fees and unclear pricing structures, leading to unexpected charges.

Poor Customer Service Reports: Numerous reviews indicate dissatisfaction with the customer service, citing issues such as unresponsiveness and inadequate support.

In summary, while Summit Merchant Solutions offers a broad range of services and solid support options, it struggles with transparency and flexibility compared to more user-friendly and transparent competitors like Square and PayPal​.

Common Issues and Resolutions

When using Summit Merchant Solutions, customers often encounter several recurring issues. Understanding these problems and knowing how to address them can significantly improve the overall experience.

Hidden Fees and Unexpected Charges

Numerous users find themselves caught off guard by undisclosed fees and unanticipated charges. These may involve different monthly charges, compliance fees, and additional expenses that were not transparently revealed when the contract was signed. In order to prevent these problems, it is essential to carefully examine the agreement and request a comprehensive explanation of all possible charges before making a commitment.

Equipment Malfunctions and Replacements

Equipment malfunctions are another common problem. Customers have experienced issues with card readers and POS systems not working correctly. When this happens, the company may charge for replacements or repairs, which can be costly. To resolve these issues, it’s essential to contact customer support immediately and request a clear explanation of the repair or replacement process, including any associated costs.

Termination Fee Disputes

Disagreements over termination fees occur when companies try to cancel contracts ahead of schedule and face significant penalties. Summit Merchant Solutions usually charges a substantial fee for terminating the contract early, which can cause financial strain. In order to address these disagreements, make sure you have a complete understanding of the termination clause in your agreement. If you think the fee is unjust, keep track of all communications and think about consulting with a legal professional.

Steps for Resolving Disputes with the Company

Contact Customer Support: Start by reaching out to Summit Merchant Solutions’ customer support to explain the issue and seek a resolution.

Document Everything: Keep detailed records of all interactions, including emails, phone calls, and written correspondence.

Request Escalation: If the initial support does not resolve your issue, ask to escalate the matter to a higher authority within the company.

Seek External Help: If internal resolution fails, consider involving external bodies such as the Better Business Bureau (BBB) or seeking legal counsel.

Addressing these common issues promptly and effectively can help mitigate the impact on your business and ensure a smoother experience with Summit Merchant Solutions​.

Conclusion

Summit Merchant Solutions provides various payment processing services but has received considerable backlash for undisclosed fees, lengthy contracts, and subpar customer support. Businesses should thoroughly assess their needs and compare different options before making a decision, despite the strong support options available. Potential users need to carefully examine contracts and ask for more information about fees.

FAQs

What is the length of the standard contract with Summit Merchant Solutions?

The standard contract length is 36 months with a significant early termination fee.

Are there any hidden fees I should be aware of?

Many customers have reported hidden fees, such as unexpected monthly charges and high equipment lease costs.

How can I resolve disputes with Summit Merchant Solutions?

It is advisable to document all communications, read the contract thoroughly, and contact their customer service for resolutions. In severe cases, seeking legal advice may be necessary.