Cynergy Data Overview
Cynergy Data is a very large merchant account provider that serves over 100,000 merchants and processes over $10 billion in transactions annually. The company went bankrupt in 2009 but was subsequently acquired by a private investment firm called the Comvest Group for $81 million. The Comvest Group then merged Cynergy Data with Priority Payment Systems, another nationwide credit card processor, so that Cynergy Data and Priority Payment Systems are now essentially the same organization.
Cynergy Data strongly promotes a product called VIMAS Plus for merchants. VIMAS Plus is an online management portal for each merchant’s account that provides transaction reports and monthly statements. In terms of actual credit card processing hardware or software, Cynergy Data provides countertop credit card terminals, mobile phone processing (“Vwalaa”), a donation option at checkout (“DonateWiseNow”), industry-specific point-of-sale products, and payment options for high risk industries like airlines, travel, outbound telemarketing, TMF merchants, scholarship programs, diet programs, and continuity businesses. Cynergy Data offers phone and email support to its merchants, but these lines may be serviced by Priority Payment Systems. Afshin Yazdian is the president and CEO of Cynergy Data.
At a glance
Founded: 1995
Location: Long Island, New York
Acquiring bank: Wells Fargo Bank, BMO Harris Bank
Website: cynergydata.com
Phone number: 800-933-0064
E-mail: [email protected]
Cynergy Data Promotional Video
Online reputation and reviews
Merchant feedback about Cynergy Data has slowed to trickle in recent years, possibly as a result of the company’s bankruptcy, acquisition, and merger. Still, there are about 30 recent Cynergy Data complaints to be found, most of which cite difficulty cancelling service, poor customer support, unexpected fees, higher-than-expected rates, and nondisclosure by sales agents. The dwindling number of merchant reviews may indicate that the company is mostly marketing its products under the Priority Payment Systems brand, but it’s difficult to determine what the root cause is at this time.
Legal actions and lawsuits
There are no outstanding or recently resolved legal actions related to Cynergy Data at this time.
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