Central Payment Corporation (CPAY) Overview
Central Payment Corporation (also known as “Central Payment” or “CPAY”) is a merchant account provider that operates as part of a “joint venture” with TSYS. The phrase “joint venture” is intended to reflect that while TSYS owns more than half of Central Payment Corporation, the company still operates with some degree of independence. Central Payment claims to serve over 60,000 businesses and process over $10 billion annually, making it a large processor for the industry. It is still dwarfed, however, by TSYS’s organization and market share.
Central Payment’s products and services include point-of-sale solutions, EMV-compliant credit card processing hardware, gift and loyalty programs, mobile payment processing, American Express OptBlue pricing, e-commerce solutions, and recurring billing. The company offers phone and email support to all of its merchants. Zachary and Matthew Hyman are the co-managing partners of Central Payment Corporation.
At a glance
Location: San Rafael, California
Acquiring bank: First National Bank of Omaha, Wells Fargo Bank
Phone number: 800-449-8012
E-mail: [email protected]
Online reputation and reviews
Central Payment Corporation has received over 250 negative reviews on consumer protection forums. Merchants complain of nondisclosure of contract terms, misrepresentation of rates and fees, poor customer service, unethical agent conduct, difficulty cancelling service, and large early termination fees. This high complaint total stands in marked contrast to TSYS, which maintains an uncharacteristically low complaint volume for a company of its size. Central Payment Corporation generally has a much worse reputation among merchants than its much larger partner entity.
Legal actions and lawsuits
There are no outstanding or recently resolved legal actions related to Central Payment Corporation at this time.
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