Best for
Standard-risk merchants who want a customized payment processing plan
Specializes in
Credit and debit processing, ACH processing, terminals, POS systems, mobile swipers, payment gateways, virtual terminals
Pricing Summary
Setup Fee: $0
Monthly Fee: $12.95 Per Month
Swipe Rate: 2.99% To 4.99% + $.20
Keyed-in Rate: 2.99% To 4.99% + $.20
Early Termination Fee : $295+
Contract Terms:
Electronic Payment Systems (EPS) is a merchant account provider that offers a variety of payment solutions. Merchants can use EPS to get a POS system, terminal, mobile swiper, or payment processing alone.
John Dorsey founded EPS in 1994. The company is a registered ISO / MSP of Esquire Bank, and it’s based out of Englewood, Colorado. Electronic Payment Systems services standard-risk merchants across many sectors, including those operating in:
The company doesn’t provide a ton of information about its pricing. We know that EPS charges 2.99% to 4.99% + 0.20 for its virtual terminal. But the company varies its rates based on the unique profile of each merchant that it works with.
EPS currently has an A+ rating with the Better Business Bureau. But it also has a decent number of negative reviews online. The company even has a warning on its BBB profile, which describes a recent lawsuit involving a credit card laundering complaint. However, EPS says that it was a victim of a third-party actor and not the perpetrator of this scam.
Head Quarters
Englewood, Colorado
Year Founded
1994
CEO
John Dorsey
Employees
500
Merchant Provider Risk Tolerance
Payment Processing
EPS offers virtual terminal and payment gateway solutions for merchants who want to process payments online. The company also processes card-present payments with terminals, mobile devices, and its POS systems.
Electronic Payment Systems processes all major payment types, including debit and credit, ACH, and checks. EPS also offers several different pricing structures to choose from, including interchange plus, tiered, and flare rate. The company works with each merchant to come up with an individualized plan that works for them.
POS Solutions
Merchants can also get their POS software through Electronic Payment Systems. The company’s POS solution is advertised as being a quick and painless option for the customer checkout process. The software also integrates with QuickBooks, making it easier for merchants to manage their expenses and budget.
EPS also offers POS hardware. You can get the Clover POS system through Electronic Payment Systems as well as the CHARGE Anywhere POS platform.
Terminals and Mobile Swipers
Electronic Payment Systems provides a wide variety of terminals for merchants to choose from. For terminals, EPS has the Ingenico ICT 220, Ingenico ICT 250, and Ingenico IWL 250 available.
For mobile swipers, the company offers the Miura M010, ROAMPay RP 350x, and the ROAMPay RP 457C. Each of these products has its own unique pros and cons, which makes it easy to find one that fits your unique needs.
Discloses All Important Terms
No
Public Pricing Available
No
Electronic Payment Systems offers several different pricing options for merchants to choose from. This includes interchange-plus, tiered pricing, and flat-rate models. However, it’s unclear if all merchants get to choose from each of these options or if EPS limits their availability in some way.
The company often uses a one-year contract with a hefty liquidated damages-style cancellation fee. EPS also charges a large number of monthly fees, including $15 for its payment gateway, $25 for wireless access, and $10 for debit administration. The company also charges a $99.50 annual terminal fee and a $25 monthly minimum fee.
Pricing Model
Interchange PlusTiered PricingFlat Rate
Swiped Rate
2.99% To 4.99% + $.20
Keyed-in Rate
2.99% To 4.99% + $.20
Mobile Payment Rate
Virtual Terminal Rate
2.99% To 4.99% + $.20
Monthly Fee
$12.95 Per Month
Payment Gateway Fee
$15 Per Month
Batch Fee
Undisclosed
Early Termination Fee
$295+
PCI Compliance Fee
$99.50 Per Year
Equipment Lease Terms
48 Month (locked)
Address Verification Service (AVS)
Application Fee
Account Setup Fee
$0
Gateway Setup Fee
Undisclosed
Annual Fee
$99.50 (Per Terminal)
Monthly Minimum
$25 Per Month
Statement Fee
It appears that Electronic Payment Systems offers several different contractual agreements for merchants to choose from. The company has both a one-year and two-year contract, which it uses often. But the terms within these contracts can vary considerably from one merchant to another.
Contract Length
3 Years
Early Termination Fee
$295+
Electronic Payment Systems has an A+ rating with the Better Business Bureau. However, it also has a moderate number of negative online reviews. Many of these reviews complain about the company’s deceptive sales practices, poor customer service, and high fees.
BBB
A+ and has been accredited since 2012. (5 Reviews; 7 Complaints)
3.8 Stars / 74 Reviews
N/A
Yelp
1 Star / 1 Review
Total Online Reviews
150+
Total Online Complaints
100+
Lawsuits
1
If you're in the market for a merchant account provider, be sure to check out our user reviews, our merchant accounts guide and our top popular merchant provider picks