Certified Payment Processing Review
Certified Payment Processing was a merchant account provider founded in 1991 by Andrew Frankel. It processed billions in payments each year, had over two hundred employees, and generally serviced e-commerce businesses and small, local mom and pop stores.
|Early Termination Fee||$495-$595|
|Contract Terms||3 Years|
Certified Payment Processing Overview
Certified Payment Processing was founded in 1991 by Andrew Frankel and primarily serviced online businesses and small mom and pop stores, and retail businesses. Its pricing model was generally thought of to be a tiered pricing model, though sometimes its rates varied due to the modified contract it used and gave to merchants. Certified Payment Processing’s website is no longer up, and the affiliated companies that share the same address seem to have moved their efforts towards Cypress Bay Solutions. Many merchants made complaints about Certified Payment Processing and complained of hidden or misrepresented fees. Its reputation was on the negative side.
Certified Payment Processing Pros & Cons
Certified Payment Processing Products & Services
Point 1: Full-Service Payment Processing
Certified Payment Processing offered different solutions to processing debit and credit cards. It branded itself as a ‘full-service’ solution to payment processing. It did this by allowing merchants to accept debit cards and credit cards and a myriad of other services such as online payments attached to a payment gateway. With its other services like POS equipment and the processing of checks and gift cards, Certified Payment Processing attempted to be a one-stop-shop for payment processing while it was active.
Point 2: POS Terminals, Peripherals
Certified Payment Processing utilized several different POS equipment to enable the merchants that used it to accept debit and credit cards in person. This includes all-in-one terminals, card-readers, mobile apps and Bluetooth card readers attached to smartphones, and more. Generally, merchant account providers do this to allow merchants to accept payments in as many ways as possible. Certified Payment Processing’s POS system is very run-of-the-mill and not particularly special.
Point 3: Gift Cards, Checks, Contactless Payments
CPP also allowed merchants to take and create gift cards for their restaurant or business, process checks, and make contactless payments. This can be helpful for merchants depending on what kind of business they do. Still, contactless payments are becoming more and more popular, with some businesses relying on them these days to process most of their payments.
Certified Payment Processing Advertising & Sales
CPP appears to have used telemarketing and independent sales agents to market and sell its services. Many merchant account providers do this, but it often has the downside of a disconnected and individual sales force that often make mistakes and offer different rates to inquiring merchants. There have been numerous complaints about the nondisclosure of essential contract terms and misrepresentation of fees and rates because of this.
There does not appear to be official deceptive advertising, and most of its attempts seem honest, but CPP still has negative marks on its practices in sales and advertising because of its choices on how it goes about doing that. CPP is an ISO of Fifth Third Bank in Cincinnati, Ohio, and Wells Fargo Bank of Walnut Creek, California.
Truth in Marketing
|Advertises Deceptive Rates||No|
|Discloses All Important Terms||No|
|Public Pricing Available||No|
Certified Payment Processing Pricing, Rates & Fees
The fees and pricing are not all available when it comes to what CPP offers. CPP uses a modified version of a First American Payment Systems contract. While it is known that they used a tiered-pricing system, it also utilizes a very high termination fee that can sometimes hit as hard as $500-700. Other standard fees also apply, like a $25 monthly minimum fee, a $124.75 PCI compliance fee, and a $99 annual fee.
The specific rates for swipes, keyed-in, or other kinds of card acceptance aren’t disclosed.
Pricing At A Glance
|Pricing Model||Tiered Pricing|
|Mobile Payment Rate|
|Virtual Terminal Rate||Variable|
|Payment Gateway Fee||Variable|
|Early Termination Fee||$495-$595|
|PCI Compliance Fee||$124.75|
|Equipment Lease Terms||Non-Cancellable|
|Address Verification Service (AVS)|
|Account Setup Fee||$0|
|Gateway Setup Fee|
Certified Payment Processing Contract & Terms
Certified Payment Processing uses a modified First American Payment Systems contract. This agreement tends to be around three years in length and notably has a very high early termination fee. Many merchants complain that the terms of the contract feel underwhelming and are being overcharged for subpar services. These complaints are numerous, and complaints about the early termination fee or confusion about the automatic renewal of the contract.
Certified Payment Processing Setup & Support
Merchant account providers that are not aggregators or are otherwise normal will use standard procedures to approve merchants who are seeking accounts with them. Usual underwriting procedures involve 3-6 months of bank statements, your credit history, your personal history, and some information about your business: like the volume of your business, monthly, and what the average transaction looks like.
CPP doesn’t appear to use any specific or different underwriting methods than standard merchant account providers. CPP offers live customer support, but considering many complain about its customer service, it doesn’t appear to be good customer support.
Certified Payment Processing Complaints, Ratings & Reviews
CPP has been the subject of an overwhelming number of complaints from many, many different merchants and customers. BBB alone has over 70 complaints registered, and even though some of them have been resolved (16), many remain unresolved, and some merchants are still angry and feel as if the company has scammed them.
CPP doesn’t seem to have been involved in any lawsuits as far as official records are concerned. BBB has them rated at 1 star with two reviews, and Indeed at 2.5 stars with 63 reviews.
|Total Online Reviews||100+|
|Total Online Complaints||70+|