I received a cold call from EMV Payments telling me they could lower my credit card rates. I agreed to a meeting when they told me they can save me over 40% on my credit card bills. A salesman from EMV Payments by the name of Joe Dempsey came to the meeting. He told me that we had been pre-selected as a company that qualifies for a “wholesale” rate promotion that only happens once a year. We were told we could receive the same rates as the big-box retailers due to a former court settlement with Wal-Mart. We were quoted a 1.54% effective monthly rate, which I have documented via email. When I asked how we could receive rates that low, Joe said we would be processing directly through First Data. The only way we could receive the rates we were quoted was if we signed a non-cancellable lease agreement for a new credit card terminal. The lease agreement is for $69.99/month. The machine itself only costs about $150.00. I asked Joe if I could just purchase the machine myself. He told me that the only way we could receive the rates he quoted was if we signed the lease. After much back and forth and many emails of Joe assuring me the rates he quoted is what the rates would be, we agreed to sign the lease. Joe knew we would never sign that lease unless we were given the quoted rates. I have many emails supporting this. Upon receiving my first bill, I immediately realized we are not processing directly through First Data. We are processing through a company called Eschelon Financial. I spoke with an agent from Eschelon and explained my situation. He told me it’s impossible to even process directly through First Data. According to Lance from Eschelon, we are not considered “wholesale” by any means. Lance also informed me that there was no possible way we could receive the rates we were quoted. Lance tried to help out by lowering the discount rate I’m paying to 6 basis points over interchange. That is still not enough. The major problem is that the miscellaneous fees are all still there making my monthly effective rate around 2.5-2.6%. It is still about 1.00% away from the effective rate I was quoted which is costing me an extra $800.00/month based off an average of $80,000 in transactions per month. It was a blatant misrepresentation. I’ve tried to communicate with Joe Dempsey from EMV, but he will not answer my emails. I informed him I would be filing a complaint and I still never heard from him. I need to make sure this doesn’t happen to anyone else and that EMV Payments and/or Joe Dempsey are banned from continuing their fraudulent sales pitches. Lance from Eschelon informed me that Joe was a contractor and really didn’t have any power. After reviewing everything, it seems pretty clear to me that Joe makes his money from Northern Leasing, which is the company that we leased the credit card terminal from. He will use any and all means to get someone to sign the non-cancellable lease so he gets paid whatever sum he gets from Northern Leasing. .
This complaint and/or review was posted on HolySmoke.org on 18:59 pm, September 24, 2017 (CST) and is a permanent record located at: https://www.holysmoke.org/scam/emv-payment-systems-midwest-review/.
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