Costco Merchant Services Overview
Costco Merchant Services is the merchant account division of the wholesale retailer Costco. Costco is partnered with Elavon for its merchant services product, which means that Costco lets Elavon handle all aspects of the actual payment processing. Merchants who are considering Costco Merchant Services should be aware that, for all intents and purposes, Costco is Elavon, and that the company’s reputation for heavy discounts will not necessarily extend to its merchant services offering.
As a minor incentive for Costco users, Elavon waives the application fee and statement fees for Costco members who have Executive memberships. Costco Merchant Services’s products include EMV- and NFC-compatible credit card terminals, mobile phone processing, tablet-based point-of-sale software, QuickBooks integration, check processing, gift and loyalty programs, and transaction reporting. Costco Merchant Services offers phone support from 9 a.m. to 8 p.m. EST Monday to Friday and live chat support during similar hours. Craig Jelinek is the CEO of Costco.
At a glance
Founded: 1997
Location: Issaquah, Washington
Acquiring bank: U.S. Bancorp
Website: costcopaymentprocessing.com
Phone number: 800-551-0951
E-mail: N/A
Costco Promotional Video
Online reputation and reviews
Costco Merchant Services has received fewer than twenty merchant complaints across all consumer protection forums. This surprisingly low total may be due in part to disgruntled Costco merchants posting complaints that only name Elavon instead of both organizations. Even so, the company’s claim that it serves over a million merchants makes its low complaint count admirable by any standard. The few complaints that clearly reference Costco cite higher-than-quoted rates, difficulty cancelling service, confusion over Costco’s relationship to Elavon, and long-term, expensive equipment leases.
Legal actions and lawsuits
There are no outstanding or recently resolved legal actions related to Costco Merchant Services at this time.
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