Vantiv is a large, publicly traded direct credit card processor that claims to have processed over 19 billion transactions in 2015. A former subsidiary of Fifth Third Bank, Vantiv has acquired several large ISOs as part of its growth strategy over the past decade, including National Processing Company (NPC), Mercury Payment Systems, and Element Payment Services. In early 2016, the company rebranded Mercury Payment Systems and Element Payment Systems as “Vantiv Integrated Payments.” Vantiv Integrated Payments emphasizes omnichannel commerce products like mobile apps and e-commerce software in addition to conventional payment processing tools.
Vantiv’s status as a direct processor helps it serve a wide range of business sizes and types, from seasonal flea market vendors to enterprise-scale corporations. The company’s products and services include terminal-based point-of-sale systems, mobile phone processing, traditional credit card terminals, EMV acceptance, ACH processing, gift cards, merchant cash advance, e-commerce solutions, international payment acceptance, and sales analytics. Vantiv also promotes targeted service packages for industries ranging from small contractors to the non-profit sector to the healthcare industry. Vantiv has recently begun to emphasize its tools for developers—which include API documentation, mobile app tools, and web commerce SDKs—in its marketing materials for Vantiv Integrated Payments.
Vantiv offers 24/7/365 phone support to all of its merchants in addition to an online video library and email channels. The company also maintains customer service lines for the financial institutions that it serves, but these lines of communication are not intended for merchant customers. Charles Drucker is the CEO of Vantiv.
At a glance
Location: Cincinnati, Ohio
Acquiring bank: Fifth Third Bank
Phone number: 1-866-622-2390
E-mail: Contact form here
Vantiv Promotional Video
Online reputation and reviews
Vantiv has received over 100 negative reviews on various consumer protection websites. These complaints describe issues that are typical of large processors: long-term contracts, costly early termination fees, hidden fees, poor customer service, and billing and shipping errors. Compared to other companies of its size, Vantiv has a lower total number of complaints. However, it does not appear to distinguish itself from the competition in terms of pricing or service.
Legal actions and lawsuits
Although it previously served as the merchant account provider for DraftKings, Vantiv has stopped processing payments for daily fantasy sports sites due to the increased legal regulations placed on the industry.
Have you used Vantiv for your business? Rate the company at the top of this post and tell us about your experience in the comment section below: