Mercury Payment Systems Overview
Founded in 2001, Mercury Payment Systems is a Durango, Colorado-based merchant account provider that offers a full host of payment processing and point-of-sale (POS) solutions for small and medium businesses. Mercury also acts as the preferred processing partner for numerous third-party POS providers, including many tablet-based POS systems like TouchBistro, SalesVu, POS Lavu, Revel Systems, Ambur, and Registroid. Until early 2014, Mercury was a reseller of Global Payments, but the company was recently purchased by another large processor called Vantiv (formerly Fifth Third Processing Solutions).
In early 2016, Vantiv announced that it was rebranding Mercury and Element Payment Services to “Vantiv Integrated Payments.” It appears that the company’s intention is to fully phase out the Mercury brand name, but its products and third-party affiliations are expected to remain the same.
At a glance
Founded: 2001
Location: Durango, Colorado
Processor: Vantiv
Website: mercurypay.com
Phone number: (800) 846-4472
E-mail: [email protected]
Mercury Payment Systems Promotional Video
Online reputation and reviews
Mercury has received over 120 complaints on various consumer protection websites. Negative reviewers mention long-term contracts with costly termination fees, software and hardware integration issues, billing errors, and poor customer service. Mercury does not appear to have responded to most of these complaints.
Legal actions and lawsuits
This press release from Heartland Payment Systems announces a lawsuit filed by Heartland against Mercury Payment Systems in which Heartland alleges that Mercury improperly pads interchange rates when billing merchants. According to Heartland Payment Systems, Mercury is inflating the reported rate of interchange for transactions without disclosing this price increase to merchants. Heartland’s contention is that this makes it difficult to compete with Mercury Payment Systems because Mercury can quote a lower markup on each transaction while secretly building profits into interchange rates. The outcome of the litigation is still pending.
Have you used Mercury Payment Systems for your business? Rate the company at the top of this post and tell us about your experience in the comment section below:
Unfortunately our point-of-sale system called Vision Core came with Mercury payments built-in. We also use Chase paymentech for our credit card and debit processing.Far cheaper than Mercury Payments.
When signing up with Mercury systems they promised to match Chases discount rates. It quickly came apparent that they were charging more. We discussed with Mercury payments about the overcharging but
they never did match Chase payment rates.
After 5.5 years we decided to cancel Mercury payments. I submitted by cancellation request and received confirmation October 25, 2015. I received a statement in November which was expected and an unexpected statement in
December. Called and request they close the account Jan 20, 2016. Mercury emailed an invoice for $440 for account cancellation fee. There was NO cancellation fee in any paperwork from Mercury in 2010. Since 2010 Mercury has changed owners a few times.
We looked my contract three years and three-year renewal automatically without any notice. Apart from the initial paperwork almost 6 years ago I’ve never signed or been contacted for contract renewals.
Theives.