Best for
Momentum Payment Systems is best for small to mid-sized low-risk businesses.
Specializes in
Momentum Payment Systems (MPS) offers payment processing services for all major debit and credit cards and caters to many different industries. The company offers a phone number for support, along with email and chat support available 24/7. MPS also leases both traditional and mobile POS equipment.
Pricing Summary
Setup Fee: $0
Monthly Fee: Undisclosed
Swipe Rate: 1.00% - 4.99%
Keyed-in Rate: 1.00% - 4.99%
Early Termination Fee : $195 - $450
Contract Terms:
The company is an ISO/MSP of Deutsche Bank AG, New York, and has also used Chase Paymentech.
MPS was started in 2004 in Addison, Texas. The current historical records of company officers are for MPS' parent company Encore, Blake Pyle, the company's CFO, and Mark Harrelson, the company's CSO.
MPS was founded in 2004 and was operating as a DBA of Encore Payment Systems, which as another DBA for Prodigy Payment Systems, and one for its Canadian operations, MOCA Payment Systems.
In 2013 Encore Payment Systems by EVO Payments International and had since been fully incorporated into EVO's business operations and branding. There is no current information available, nor a website to visit for MPS or its parent company Encore. Any historical information available is on some company officers, such as the CFO, Blake Pyle, and the chief sales officer Mark Harrelson.
MPS's offered an expensive tiered pricing plan with 3-4 year contract terms that included auto-renewal clauses. The company also charged an early termination fee ranging from $150 - $450. Furthermore, MPS offered 3rd-party non-cancelable long-term equipment leases that were the source of many complaints against the company. The only way to exit the agreements was to pay the total cost of the existing lease's remaining duration.
MPS employed a dubious practice of only hiring independent contractors or part-time employees consistently, without ever expecting to switch employees to full-time status. Although such practices are common for sales teams in the payment processing industry, it is rarely practiced as the company's sole strategy for all employees. This often leads to a high turnover of staff, and those in their roles are seldom given sufficient training or resources to fully serve their clients effectively.
MPS is no longer accredited with the Better Business Bureau (BBB) and does not have an independent rating but a rating of A- of its current parent, EVO.
Head Quarters
Addison, Texas
Year Founded
2008
CEO
Greg Robertson
Employees
200
Merchant Provider Risk Tolerance
Payment Processing: MPS offers payment processing services and is a reseller of Chase Paymentech. The company catered to small and mid-sized businesses with a low-risk profile debit/credit card payment processing.
Point of Sale (POS) – MPS offered 3rd-party equipment leases for POS terminals for many vendors. POS offered were traditional and mobile POS terminals to accept magstripe credit card payments.
Discloses All Important Terms
No
Public Pricing Available
No
MPS offered expensive tiered pricing based on various online forums and complaints. These costs were further exacerbated as many merchants entered into expensive lease agreements with the company that could only be exited if the remaining lease amount was paid in full.
Swiped Rate – Unavailable
Keyed-in Rate – Unavailable
Contract term – 3-4 years
Early termination fees – $150 - $450
PCI compliance fee – $49/annually
Pricing Model
Tiered Pricing
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
Undisclosed
Early Termination Fee
$195 - $450
PCI Compliance Fee
Undisclosed
Equipment Lease Terms
48 Month (locked)
Address Verification Service (AVS)
Application Fee
Account Setup Fee
$0
Gateway Setup Fee
Annual Fee
Monthly Minimum
Undisclosed
Statement Fee
MPS is a direct provider or merchant processing services with a 3-4-year contract with an early termination fee ranging from $150 for most merchants to as high as $450 for others. The deal carries an auto-renewal clause of one year. MPS also had a long-term non-cancelable equipment lease agreement for POS equipment that they offered.
Contract Length
3 Years
Early Termination Fee
$195 - $450
MPS is no longer accredited with the Better Business Bureau (BBB) and does not have an independent rating but a rating of A- of its current parent, EVO.
We have found no outstanding lawsuits of FTC complaints against the company.
BBB
A but is not BBB Accredited. (68 Reviews; 214 Complaints)
2.5 Stars / 6 Reviews
N/A
Yelp
N/A
Total Online Reviews
200+
Total Online Complaints
100+
Lawsuits
None
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