Ascentium Capital Review

Founded in 2011, Ascentium Capital is a financing and leasing company that sells credit card terminal leases for poorly rated i3 Verticals subsidiaries.

When the merchant services provider partners with a point-of-sale leasing provider, the contract terms can be unintentionally bundled into the overall merchant account contract. This traps customers into paying thousands of dollars for equipment that costs under $500.

Ascentium Capital is acquired by several private equity firms, including Warburg Pincus LLC and Regions Financial Corporation.

Equipment lease company with a BBB rating of “A+” and more than 100 public complaints about customer service and costs.

Ascentium Capital contracts are non-cancellable and long-term agreements through Freedom Card Solutions. Merchants can either purchase the equipment and pay the remaining balance, or notify Ascentium Capital of their intent to terminate and pay the remaining balance.

Ascentium Capital’s contract terms are not competitive with the equipment rental or purchase terms offered by low-cost merchant account providers.

Ascentium Capital has been accused of being a scam or ripoff organization, with many customers reporting issues with contract terms and customer service.

Ascentium Capital is partnered with many of the lowest-rated merchant account providers, possibly because the company approves of aggressive sales practices.

Doctors sued Ascentium Capital alleging that the company was charging exorbitant rates for leased equipment. The lawsuit was dismissed without prejudice in April 2017.

Ascentium Capital is known to aggressively pursue customers in breach of contract. All contracts should be read thoroughly.

Ascentium Capital offers a number of support channels including customer support numbers and email addresses. However, it is clear that most customers do not obtain positive resolutions through these channels.

The BBB is showing that the business profile of Ascentium Capital has been merged with Regions, leading to a large number of complaints being added to the profile. 331 of these complaints were resolved to the satisfaction of the customer.

Ascentium Capital does not appear to market its services directly to merchants, instead acting as a third-party equipment provider for many merchant service providers.

Most complainants do not understand their full contractual obligations with Ascentium Capital. They recommend seeking a third-party statement audit to renegotiate your terms.

Ascentium Capital is a poorly rated point-of-sale leasing provider. Merchants are advised to choose from our best merchant account providers to avoid predatory leases.

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