Mercury Payment Systems Review

Rates and Fees
60/100
Truth in Advertising
70/100
Consumer Reviews
55/100
Customer Support
60/100
2.7

Best for

Low risk, mom and pop, restaurant and bar, small businesses.

Specializes in

Mercury Payment Systems (reacquired by Vantiv and merged into Worldpay Integrated Systems) is a merchant account provider specializing in servicing smaller businesses and processing payments for low-risk companies like restaurants, bars, and small stores.

Pricing Summary

Setup Fee: $0

Monthly Fee: Variable

Swipe Rate: Variable

Keyed-in Rate: Variable

Early Termination Fee : $295-$495+

Contract Terms:

Month-to-month 3 Years
Visit Mercury Payment Systems

Matt Taylor founded Mercury Payment Systems in Durango, Colorado, in 2001. It had over a thousand employees before Vantiv absorbed it. Mercury Payment Systems’ acquiring bank is HSBC Bank of Buffalo, New York. Mercury Payment Systems (MPS) primarily services small businesses.

Mercury Payment Systems Overview

 

MPS was founded in 2001 by Matt Taylor and proceeded to begin its business and acquire clients. Its pricing model varies depending on the type of business it is servicing and the kinds of processing that the company does. Its industry focuses on small businesses, restaurants, bars, and other kinds of small retail and small stores. Its overall reputation is mixed, with a total of over 60 online complaints, which is a noticeable amount even for a company of its size. Most of the complaints seem to revolve around the fact that MPS used independent resellers (more on that in the Advertising and Sales section, below), and this is a thing that most merchants should be wary of if they see it.

Quick Facts

Head Quarters

Durango, CO

Year Founded

2001

CEO

Matt Taylor

Employees

1000

Merchant Provider Risk Tolerance

What We Like

What We Don't Like

Industries Served

  • Clothing & Apparel
  • Convenience Store
  • Electronics
  • Gas Station
  • Marketing Agency
  • Moving Companies
  • Personal Service
  • Property Management
  • Restaurant / Bar
  • SAAS
  • Self Defense, Tasers & Stun Guns
  • Thrift Store

Business Types Served

  • High Volume
  • Information
  • Low Risk
  • Mom & Pop
  • Retail / Card Present
  • Small Business
  • Wholesale

Mercury Payment Systems Products & Services

 

Mercury Payment Systems is no longer active as a company, but similar businesses offer similar products and services. Those services and products are below. This is the most accurate mockup of what it provided to merchants and customers.

Point 1: Credit and Debit Processing, Cash Advances


Being a merchant using MPS means that you’d be able to process debit and credit cards, taking them as a form of payment instead of physical cash. Credit and debit cards are the lifeblood of any modern business, and not taking them is a problem. Cash advances are also usually available with companies like MPS, where it gives you an advance of money and collects it over time through small fees.

Point 2: POS Systems, Integrated Payments


Integrated payment and POS systems mean things like card readers, card terminals, all-in-one terminals, tablets, and other kinds of devices that are specifically created to be able to take cards and process payments. These devices are either bought or leased from the merchant account provider and have software and connections to make it so that they function correctly and process cards. These can be very convenient for a merchant to have.

Point 3: Online Gateways and Virtual Terminals


Online gateways and virtual terminals are ways of taking payments online. If you have a small store but ship across a state, for example, or have a small online store, you would need it to do business. These kinds of technologies allow secure ways for customers to buy products and services through your business without worrying about fraud or card details leaking. MPS likely offered these as well.

Mercury Payment Systems Payment Processing

  • Check Services
  • Credit Card Processing
  • Credit Card Terminals
  • EBT Acceptance
  • Gift & Loyalty Program
  • Online Payments
  • Payment Gateway
  • POS Equipment
  • Virtual Terminal

Mercury Payment Systems Billing & Invoicing

  • Mobile Payments
  • Online Payments
  • Payment Processing

Mercury Payment Systems Advertising & Sales

 
When MPS was still around, it relied on independent resellers. This is often viewed negatively because the merchant account provider has very little control or say in the tactics and manner in which the salespeople engage in their job. While it may result in specific quotas, many merchants find the behavior of aggressive sales tactics annoying: not to mention when it can get into the realm of being deceptive as well, more often than not. 

Misrepresentation of fees and nondisclosure of contract terms are common, and par for the course with these kinds of companies, and MPS had several of these complaints in the time before it was absorbed. MPS was somewhat honest with its fees but didn’t do much to deal with the independent resellers' tactics.

Truth in Marketing

Discloses All Important Terms

No

Public Pricing Available

No

Mercury Payment Systems Pricing, Rates & Fees

 

The exact pricing and fees of MPS are not all known. An early termination fee of at least $295 and an annual PCI Compliance Fee of $150--both high for this industry--are known, but the maximum rate, type of pricing, model, and other kinds of information are not known. Merchants have made complaints of other additional fees that MPS allegedly did not disclose.

Pricing at a Glance

Pricing Model

Interchange Plus

Swiped Rate

Variable

Keyed-in Rate

Variable

Mobile Payment Rate

Virtual Terminal Rate

Variable

Monthly Fee

Variable

Payment Gateway Fee

Undisclosed

Batch Fee

Early Termination Fee

$295-$495+

PCI Compliance Fee

$150 Per Year

Equipment Lease Terms

Variable

Address Verification Service (AVS)

Application Fee

Account Setup Fee

$0

Gateway Setup Fee

Undisclosed

Annual Fee

Monthly Minimum

Variable

Statement Fee

Undisclosed

Mercury Payment Systems Contract & Terms

MPS offered a relatively standard multi-year contract, usually for 12-36 months, that had an early termination fee of $295 or higher, with some merchants reporting charges of up to $900. Besides this information, not much is known about MPS’ contracts.

Contract Length

Month-to-month3 Years

Early Termination Fee

$295-$495+

Mercury Payment Systems Setup & Support

 

Setup Highlights

  • Documentation / Knowledge Base

Support Highlights

  • Domestic Phone Support (Business Hours)

Mercury Payment Systems Complaints, Ratings & Reviews

MPS had various complaints leveled against it, but most of them revolved around the fact that it was a merchant account provider that used independent resellers. Many merchants complain of the company being a ripoff, and you can find these in reviews of the company anywhere. On BBB, MPS has a 1 out of 5 stars based on 12 reviews. Many sites rate it negatively. Yelp has it ranked 1 out of 5 stars based on 25 reviews.

Strangely, while a class-action lawsuit has never hit Mercury Payment Systems, Heartland Payment Systems sued MPS over alleged false advertising and unfair competition. Heartland Payment Systems claims that MPS would contact known customers of Heartland and misrepresent fees to make them switch to Mercury Payment Systems. The lawsuit has no outcome as of yet.

Ratings

BBB

A+

Google

N/A

Facebook

N/A

Yelp

1 Star / 24 Reviews

Reviews

Total Online Reviews

120+

Total Online Complaints

60+

Lawsuits

2

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