Best for
Small storefront and e-commerce businesses
Specializes in
POS and online transaction processing with Interchange-Plus pricing
Pricing Summary
Setup Fee: $0
Monthly Fee: $15 “help desk” fee
Swipe Rate: 3.25% + $0.09
Keyed-in Rate: 3.25% + $0.09
Early Termination Fee : $250
Contract Terms:
Prestige Payment Systems is a merchant account provider that was founded in 2006 but does not appear to be active anymore. While operational, the firm faced a high number of customer complaints about its misrepresentation of contract terms and aggressive sales tactics.
Prestige Payment Systems is reported to be doing business under several different business names on top of being an official DBA of National Payment Systems, LLC. As of present, the firm appears to be fully dissolved with some of its former managing members now operating a new payment processing company by the name of Freedom Card Solutions.
Prestige Payment Systems is a merchant account provider that resells the payment processing contracts of First Data. The firm has been active since 2007 and is headquartered in Portland, Oregon.
Prestige Payment Systems currently has an estimated 20 employees and Brad Law is listed as the company's current Managing Member. Brad Law and the firm's DBA manager, Jonathon Beckam, are believed to have started a new joint payment processing venture called Freedom Card Solutions.
There is some ambiguity around the official branding of Prestige Payment Systems. On one end, two of the firm's executives operate the new joint venture, Freedom Card Solutions. On the other end, online sources indicate that Prestige Payment Systems is also operating under the names “National Card Solutions,” “Direct Processors," and “United Card Solutions."
Prestige Payment Systems itself is a DBA of National Payment Systems, LLC. As a reseller of First Data contracts, it is believed that the firm operates under various brandings to effectively target different merchant markets. There appears to be no official website for Prestige Payment Systems at this time.
Head Quarters
Portland, Oregon
Year Founded
2006
CEO
Brad Law - Managing Member
Employees
20
Merchant Provider Risk Tolerance
Prestige Payment Systems does not have an active website, which indicates that the firm has likely stopped doing business under this name.
While it was active, Prestige Payment Systems offered payment processing services for storefront (POS) and online transactions. The firm also offered merchants the option of Interchange-Plus processing.
Interchange-Plus pricing is typically seen as the best pricing option for merchants as it typically results in the lowest rates and highest transparency for transaction fees.
Discloses All Important Terms
No
Public Pricing Available
No
Prestige Payment System's fees include:
The firm advertises both Tiered and Interchange-Plus pricing, however, most of its contracts include a flat processing rate of 3.25% + $0.09 per transaction.
Prestige Payment Systems also advertised POS equipment leases but those rates and fees can vary significantly depending on the merchant’s size and industry. It’s important to note that POS equipment leases are typically much more expensive than purchasing the equipment outright.
eCommerce merchants can expect additional fees associated with using Prestige Payment System’s online payment gateway. The most common eCom fees are Gateway Fees, Technical Support Fees, and Batch fees.
Pricing Model
Interchange PlusTiered PricingFlat Rate
Swiped Rate
3.25% + $0.09
Keyed-in Rate
3.25% + $0.09
Mobile Payment Rate
Virtual Terminal Rate
1.00$ + 4.99%
Monthly Fee
$15 “help desk” fee
Payment Gateway Fee
Undisclosed
Batch Fee
Undisclosed
Early Termination Fee
$250
PCI Compliance Fee
$150 Per Year
Equipment Lease Terms
48 Month (locked); $50 - $77 Per Month (Lease Costs)
Address Verification Service (AVS)
Application Fee
Account Setup Fee
$0
Gateway Setup Fee
Annual Fee
$50 - $197 Per Year
Monthly Minimum
Statement Fee
A standard contract with Prestige Payment Systems is a three-year agreement with an undisclosed Early Termination Fee (ETF). Online complaints from merchants who have signed up with Prestige Payment Systems indicate an ETF of $250.
Contract Length
3 Years
Early Termination Fee
$250
Prestige Payment Systems is not accredited with the BBB and maintains a 1/5 rating on its BBB profile (based on 5 customer reviews.)
The BBB issues a "pattern of complaint" alert on November 17, 2017 to inform users that Prestige Payment System's sales representative would claim low rates and guaranteed savings when, in practice, merchant clients paid significantly more than stated.
As of present, the firm’s BBB profile also shows 16 active customer complaints with 2 complaints closed in the last 12 months.
BBB
NR and is not BBB Accredited. (6 Reviews; 17 Complaints)
1.2 Star / 49 Reviews
N/A
Yelp
1 Star / 7 Reviews
Total Online Reviews
250+
Total Online Complaints
100+
Lawsuits
1
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