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SCAM ALERT
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To Whom It May Concern, I am writing this letter to you office in regards to Payment Systems, a company located in Los Angeles, CA. In Aug. of 2011, a representative of this company came to my business making many promises they did not keep. I had just
signed a 3 year contract with another credit card processing company (Merchant Lynx) and was told by Payment Systems they would pay the early termination fee of $250 to Merchant Lynx should I switch my business to them. I signed a contract with Payment systems
and they never paid the $250 early termination fee to Merchant Lynx. I am still paying Merchant Lynx $59.90 per month for a service I do not use because of the promises made by Payment Systems. Payment Systems showed me an analysis of what my fees with them
would be as opposed to the current processor at the time (Merchant Lynx) and assured me the fees would be lower. They (Payment Systems) also told me my debit card business would be a flat rate of $25 per month no matter how many cards I ran with no other charges
for debit card transactions. None of the above statements turned out to be true. Not only did they not pay my early termination fee of $250 to Merchant Lynx, I found out the early termination fee from Payment Systems is $995 which is far beyond the rate charged
by most processors. I am currently being charged a monthly minimum fee of $59.85 from Merchant Lynx and fees of $158.90 from Payment systems for services I no longer use. I am currently with another company, Ipayment, who handle my credit card processing,
with no contract and my average monthly bill is approx. $125 per month, which is lower than Payment Systems, who is no longer providing any services for me. Below is a breakdown of what I am being charged by Payment Systems for services I no longer use Regulatory
Product: $4.95 PCI Validation $19.95 Inactivity Fee $99.00 Carepoint $20.00 Debit Access Fee $15.00 Total $158.90 I could not find any place in the contract mentioned an Inactivity Fee of $99. Payment Systems did not lower my fees as promised, but in fact
Increased them. I am requesting that your office help me close this account with Payment Systems and have Payment Systems waive their $995 early termination fee. This is clearly a game of Bait and Switch and companies who participate in this type of activity
need to be stopped. My monthly credit card sales are approx. $3500 per month. I am a small business that is barely surviving in this economy. How is a small business like mine supposed to stay in business when company’s like Payment Systems are allowed to
operate like this? Best Regards,
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