Wholesale Payments offers payment processing for retail, mobile, e-commerce, restaurant, and petroleum businesses. It was founded in 2006 under the name “Lubbock Credit Wholesale” and changed its name to Wholesale Payments in 2007.
Wholesale Payments Inc. is a payment and transaction processor serving businesses nationwide. They process payments for Visa, MasterCard, Discover, American Express, Diners Club, JCB, ATM, debit cards, government cards, and electronic gift cards.
Priority Payment Systems offers a 3-year contract with an early termination fee of up to $500 and has 36 complaints and 35 reviews.
The official contract for Wholesale Payments can’t be obtained, but public reports about the company’s contract show that the company sells equipment leases that can last up to four years.
Wholesale Payments offers storefront payment processing services, virtual terminal and payment gateway services. However, pricing is not available for any of these services.
Wholesale Payments’ cash discount program enables merchants to pass payment processing costs on to their customers. However, wholesale payments also charges monthly and incidental fees on the non-cash purchases.
Wholesale Payments complaints are reported about undeclared contracts and hidden fees. We encourage merchants to review and make copies of contracts before signing up.
The company Wholesale Payments provides rates and fees that are more expensive than industry averages and are nowhere near as good as those of the cheapest merchant accounts.
More than 30 negative reviews of Wholesale Payments have been posted to our site, and complaints include high fees, high-cost contracts, and poor customer service.
This article discusses a class-action lawsuit filed in 2021 alleging that Wholesale Payments was involved in signing merchants up for accounts for Priority Payment Systems LLC.
Wholesale Payments offers phone and fax customer support, and a customer support form on its website. However, the company has received negative reports from merchants, and its customer service is far below average.
The BBB no longer lists Wholesale Payments as an accredited business, and 36 complaints have been filed against the company. Only 15 of these complaints were resolved to the satisfaction of the merchant.
Wholesale Payments sales approach generates high complaint totals, generating complaints about undisclosed contract terms, high-than-expected fees, and unprofessional sales agents.
Wholesale Payments is accused of “slamming” merchants into signing a second merchant agreement with their company.
The Sales team at Wholesale Payments has generated most of the complaints and the available reports do not support a higher rating.
Wholesale Payments is a below-average merchant services provider, but it could trend toward a worse rating if it is more aggressive in its sales approach.