04/02/2013

Our “Ties That Bind” Contest Winner Announced!

Over the last year, we’ve collected stories from our clients about being fed up with their merchant banks. We made it into a contest called the “Ties That Bind.” The person who shared our favorite story of woe would win a trip to Las Vegas, home of Shift4’s headquarters! Helen Lyons submitted her experience and we chose her story as the winning one.
The frustration she describes with her former employer’s merchant services provider (MSP) is unfortunately an all-too-common experience for merchants these days. In Helen’s case, she’ll get to ease her tensions during a weekend getaway in one of Vegas’ fancy hotels with tickets to a show on the Vegas Strip and $500 spending money. While we can’t send all of our merchant customers on a trip to Vegas, we are always here to work as your advocate! At Shift4, we’re committed to helping merchants avoid being taken advantage of by merchant banks, MSPs, and processors. With Shift4 working for you, you can avoid the aggravating hidden fees and awful customer service that can come with some MSPs, as described in Helen’s submission:

“The MSP that we have nickel-and-dimes for everything – minimum monthly fees, etc. They have at least 60 or more different rates on all types of credit cards. Therefore, the net rate is higher than what was presented by the salesperson originally. Not only do they squeeze every cent, but they also charge an annual fee to provide their “service,” despite making thousands on our charges. We have had them churn supposed chargebacks, despite sending adequate information to prove validity of charges, so they can collect $35 for each letter they send us, regardless of the outcome, and then charge $35 for a chargeback that finally goes through. Their contract specialist told me that the $35 fee for chargebacks is not just for chargebacks that go through, but any time they have to contact us about a chargeback whatsoever – she said it’s a “per item” fee. BS! Their cancellation fees are just under $500 for each account that we have with them and they wrote a legalese clause in the contract stating they would have the right to collect up to one year’s total estimated fees on our charges. Our Attorney General’s office won’t take on B2B cases. I’m still working on getting them out of the three-year contract mess. The original salesperson who signed them up will not return my calls over issues that arise, and when I finally cornered him, said he could do nothing. Why should he? He got his money when our business signed on. Hate ’em!”
(Helen Lyons, “Ties That Bind” contest submission)

Helen, we feel your pain! Thank you for letting us share your experience with other merchants to help them avoid falling victim to the same schemes. We hope you enjoy your trip to our beautiful city.

Does Helen’s story sound like your current experience? If so, you may decide to leverage the freedom we can provide to you and start the search for a new MSP or processor. As a client of Shift4, a truly bank- and processor-neutral payment gateway, you have the freedom to switch banks and processors at will. For more information and tips on how to pick a new MSP or processor, check out “6 Steps to Finding the Best MSP or Processor for Your Business.”