Best for
E-commerce, mom and pop, high volume, high risk, low risk, retail, small business.
Specializes in
Main Street Processing (MSP) is a merchant account provider specializing in servicing a variety of business types: e-commerce, smaller businesses, high-risk, and retail, are just a few. It is associated with Datalink Bankcard, which it seems to be a reseller of.
Pricing Summary
Setup Fee: $0
Monthly Fee: Undisclosed
Swipe Rate: 1.00% - 4.99%
Keyed-in Rate: 1.00% - 4.99%
Early Termination Fee : $250+ or Liquidated Damages
Contract Terms:
MSP appears to be an alternate name for another business, Datalink Bankcard Services. It seems to also be a First Data Reseller. It was founded in Richardson, Texas, by Steve Odom in 1989 and shared the address with several seemingly unrelated companies. It mainly services e-commerce businesses and smaller businesses.
MSP is a merchant account provider that seemingly operates under several different names. Little to no information is available about its pricing model or how it calculates rates for the merchants that it services. As a reseller of First Data, this credit card processing company most likely offers a three-year contract with a varying rate, perhaps tiered pricing, and an early termination fee that can start at $250 and rapidly climb.
Its reputation seems low, with many merchants and individuals complaining of overly aggressive sales tactics to get them to sign the contract to use MSP as their merchant account provider. These sales tactics appear to be the majority of how MSP does their business.
Head Quarters
Richardson, TX
Year Founded
1988
CEO
Steve Odom
Employees
50
Merchant Provider Risk Tolerance
Zero setup fee.
Supports ecommerce, mom and pop stores, retail and small businesses.
Has a high risk tolerance.
Electronic check conversion is available.
Supports recurring bill payments.
Early termination fee.
Three year contract.
Public pricing is not available.
All important terms are not disclosed.
Locked forty-eight month equipment lease.
MSP seems to be a name for several alternate businesses. This organization uses shady sales tactics, an aggressive sales team, and a combination of lies and misrepresentation to get business. The previous statement was rendered to light the kind of quality this business offers before delving into the products and services below.
Point 1: Credit and Debit Processing, Check Processing
MSP claims to offer credit and debit processing, as well as check processing under the product and services section of its website. It states that the best fit for the kinds of services it offers are restaurants, retail, B2B, recurring bill payments, and eCommerce businesses. Electronic check conversion is available and the acceptance of mobile payments like Apple Pay and Google Pay.
Point 2: POS Solutions, Clover, Physical Card Acceptance
MSP uses Clover as its form of in-person, POS-terminals, and physical card acceptance. Clover is one of the most-used brands by merchant account providers for card-readers or physical terminals for a merchant to take credit or debit cards in person. EMV Chip technology, which is far safer for consumers to use, is also available with these physical terminals. A variety of different equipment is available for lease, depending on what a merchant might require.
Point 3: Merchant Cash Advance
As a form of financial assistance, MSP offers a cash advance to merchants. This is useful for numerous reasons, from paying taxes to meeting payroll to dealing with damages. MSP stipulates that the payment is based on taking fixed percentages from your sales, so it will never be a massive payment you have to meet each month--you will simply pay it off until it is gone.
Discloses All Important Terms
No
Public Pricing Available
No
MSP uses tiered-pricing and flat-rate pricing, but the exact rates and information behind its pricing are not revealed. The industry standard is between 1-5%, so it can be safely assumed that its pricing falls in between that margin. It is not disclosed or available, and the sales representatives that work for MSP often mention conflicting, different rates.
Pricing Model
Tiered PricingFlat Rate
Swiped Rate
1.00% - 4.99%
Keyed-in Rate
1.00% - 4.99%
Mobile Payment Rate
Virtual Terminal Rate
1.00% - 4.99%
Monthly Fee
Undisclosed
Payment Gateway Fee
Undisclosed
Batch Fee
$0.35
Early Termination Fee
$250+ or Liquidated Damages
PCI Compliance Fee
Undisclosed
Equipment Lease Terms
48 Month (locked)
Address Verification Service (AVS)
Application Fee
Account Setup Fee
$0
Gateway Setup Fee
Undisclosed
Annual Fee
Monthly Minimum
Undisclosed
Statement Fee
MSP offers a three-year agreement that is virtually identical to Datalink Bankcard’s regular contract. It features an automatic renewal for another two years and an early termination fee of $250 and higher, depending on the exact nature and timing of the contract's cancellation. Many merchants have made complaints about this.
Contract Length
3 Years
Early Termination Fee
$250+ or Liquidated Damages
MSP has a large number of complaints about it. Most of these complaints revolve around aggressive sales reps, deceptive sales tactics, outright lies or nonadmission of contract terms from MSP to merchants, and confusing contract terms. BBB has it rated as an A+, with six complaints being registered in the last three years. There are no reviews on BBB, and BBB does not accredit it.
Indeed has it listed as a 4.7 based on three reviews. Several other online complaints repeatedly state and describe the deceptive sales practices and unethical behavior from MSP. There are no ongoing lawsuits involving MSP.
BBB
A+(7 complaints)
N/A
N/A
Yelp
N/A
Total Online Reviews
65+
Total Online Complaints
30+
Lawsuits
None
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