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  • Report:  #355248

Complaint Review: First American Payment Systems

First American Payment Systems - Transtech - Summit, Appstar - Eliot Mgmt - Apex - Elite Decietful dishonest bad business practices Fort Worth Texas

  • Reported By:
    Tarrant Texas
  • Submitted:
    Thu, July 24, 2008
  • Updated:
    Fri, July 25, 2008

First American Payment Systems (FAPS) is a credit card processing company. The Independent Sales Offices (ISO) they process for are Transtech, Summit, Appstar, Eliot Management Group, Elite, Apex and GMAC (not the auto maker) just to name a few.

Merchants (individuals) who have signed up with Transtech or Summit have 60 days to cancel their contract - BUT if you lease their equipment and you 'verbalize' the lease with the leasing company - once you agree to the lease with the leasing company - YOU CANNOT BACK OUT.

If you currently have a POS terminal and it is working fine for your needs, there is really no need to lease one of a different type. My suggestion would be to go to the Internet and check to see what how much the terminals are actually worth. DO YOUR HOMEWORK.

These ISO's will tell you that your current POS terminal iN use may be obsolete - DON'T BUY THAT LINE. They will try to lease you one and any other equipment such as pin pads for Debit sales and check terminals - all at exorbitant lease prices - Check processing is costly - check the rates.

Do not buy the line "This new terminal is Smart Card ready" - Smart Cards are ONLY used in Europe and may be years before it is used in the USA.

My suggestion for a lower processor would be to check with your bank to see if they process credit card transactions.

One last word of caution - If the Sales Representative says that he cannot process your information UNTIL YOU SIGN SOME DOCUMENTS - DO NOT FALL FOR THAT. Once you sign the forms, you are signing away your life and you are then under obligation.

Again, please, please, do your homework, check for rates with your existing processing company and see if they can lower your current rates - if your financial institution does process credit card transactions, check with them. You will be surprised at how much you will save with them.

FAPS is dishonest - take this situation for example. Over 1000 merchants were double billed in early 2008. FAPS identified these businesses on their records but did not inform the merchants. They expected the merchants to contact FAPS and inquire about the incorrect billing for adjustments to be made. If you did not contact them, then they did not reverse the charges - doesn't sound like good business practices to me.

Tarrant County
Tarrant, Texas
U.S.A.

2 Updates & Rebuttals


Fort worth tx

Granbury,
Texas,
U.S.A.

First American Payment Systems - Fort Worth TX

#3Author of original report

Fri, July 25, 2008

First American Payment Systems : Transtech, Summit, Appstar, Eliot Mgmt, Apex. - Elite Decietful dishonest bad business practices Fort Worth Texas

First American Payment Systems (FAPS) is a credit card processing company. The Independent Sales Offices (ISO) they process for are Transtech, Summit, Appstar, Eliot Management Group, Elite, Apex and GMAC (not the auto maker) just to name a few. Merchants (individuals) who have signed up with Transtech or Summit have 60 days to cancel their contract - BUT if you lease their equipment and you 'verbalize' the lease with the leasing company - once you agree to the lease with the leasing company - YOU CANNOT BACK OUT. If you currently have a POS terminal and it is working fine, there is really no need to lease one of a different type unless you want one with all the bells and whistles. My suggestion would be to go to the Internet and check to see how much the terminals are actually worth. I have seen many credit card terminals advertised at local office supply companies like Staples and Office Depot. DO YOUR HOMEWORK. These ISO's will tell you that your current POS terminal in use may be obsolete - DON'T BUY THAT LINE. They will try to lease you one and any other equipment such as pin pads for Debit sales and check terminals - all at exorbitant lease prices - Check processing is costly and how many people do you know that use checks for purchases?? - check the rates. These ISO's will also try to lease you a 'Tap and Go' terminal - these are usually best for convenience stores and not an auto repair shop which these ISO's have been known to do. Do not buy the line "This new terminal is Smart Card ready" - Smart Cards are ONLY used in Europe and may be years before it is used in the USA. My suggestion for lower processing fees would be to check with your bank to see if they process credit card transactions. One last word of caution - If the Sales Representative says that he cannot process your information UNTIL YOU SIGN SOME DOCUMENTS - DO NOT FALL FOR THAT. Once you sign the forms, you are signing away your life and you are then under obligation. Again, please, please, do your homework, check the rates with your existing processing company and see if they can lower your current rates - if your financial institution does process credit card transactions, check with them. You will be surprised at how much you will save with them if they know you are considering changing processing companies. Also, befor switching processing companies, check with your current processor to see if there will be a closing fee should you decide to switch companies. FAPS is dishonest - take this situation for example. Approximately 1000 merchants were double billed in early 2008. FAPS identified these businesses on their records but did not inform the merchants. They expected the merchants to contact FAPS and inquire about the incorrect billing for adjustments to be made. If you did not contact them, then they did not reverse the charges - doesn't sound like good business practices to me.


Fort worth tx

Granbury,
Texas,
U.S.A.

First American Payment Systems Fort Worth TX Credit Card Processing Company

#3Author of original report

Thu, July 24, 2008

First American Payment Systems (FAPS) is a credit card processing company. The Independent Sales Offices (ISO) they process for are Transtech, Summit, Trans One, Appstar, Eliot Management Group, Elite, Apex and GMAC (not the auto maker) just to name a few. Merchants (individuals) who have signed up with Transtech or Summit have 60 days to cancel their contract - BUT if you lease their equipment and you 'verbalize' the lease with the leasing company - once you agree to the terms with the leasing company - YOU CANNOT BACK OUT. If you currently have a POS terminal and it is working fine and meets your needs, there is really no need to lease one of a different type but from experience, the Sales Rep will lie to you or 'scare' you into leasing one. If you want a new terminal, first ask the Sales Rep what he has in mind, then check the Internet for the pricing - you will find that that is the cheaper route - the only thing FAPS will have to do is buid a file for your new machine and re-program it over the phone - very simple! DO YOUR HOMEWORK. If you would rather purchase the equipment from the Sales Rep, BE PERSISTENT! He or she will be hesitant to give you a cash price because they wil lose hundreds if not thousands for not being able o lease it to you. These ISO's may evn tell you that your current POS terminal iN use may be obsolete - DON'T BUY THAT LINE. They will try to lease you one and any other equipment such as pin pads for Debit sales and check terminals - all at exorbitant lease prices - Check processing is costly - check the rates. Do not buy the line "This new terminal is Smart Card ready" - Smart Cards are ONLY used in Europe and may be years before it is used in the USA. My suggestion for a lower processing fees would be to check with your bank to see if they process credit card transactions. One last word of caution - If the Sales Representative says that he cannot process your information UNTIL YOU SIGN SOME DOCUMENTS - DO NOT FALL FOR THAT LINE. Once you sign the forms, you are signing away your life and you are then under obligation. Again, please, please, do your homework, check the rates with your existing processing company and see if they can lower your current rates - they would rather lower your rates than to lose you as a customer. If your financial institution does process credit card transactions, check with them. You will be surprised at how much you will save with them. FAPS is dishonest - take this situation for example. Approximately 1000 merchants were double billed in early 2008. FAPS identified these businesses on their records but did not inform the merchants. They expected the merchants to contact FAPS and inquire about the incorrect billing for adjustments to be made. If you did not contact them, then they did not reverse the charges - doesn't sound like good business practices to me.

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