Vantiv/WorldPay, check your statements

Discussion in 'The Think Tank' started by Steve, Dec 10, 2018.

  1. December

    December Active Member

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    I literally said that to her.
    She replied “It was in my terms of service”
    They have the right to change my rate at anytime but I can cancel without penalty if we cant come to an agreement
     
  2. December

    December Active Member

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    She said the jump in pricing was on non-qualified transactions.
    I used to think that meant cards keyed in as opposed to swiped but its not.
    It seems like every transaction I do is considered non-qualified.

    Steve L explained what non-qualified transactions were in a previous post on this thread, The rep I spoke to said the exact same thing.
     
  3. Steve

    Steve Active Member

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    Terrible.

    I haven't looked at a statement since probably July. I'm not sure a better deal is out there. From what I understand, due to my setup with Speedline, brygid, and now Goji systems (kiosks), Worldpays tokenization is unmatched and going without it may complicate our processes in a way that would outweigh any monetary savings (or maybe that's just how I cope with it ha). Seriously though, this is what Goji Systems told me last night. Some different batching things and stuff like that

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  4. Steve.L

    Steve.L Active Member

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    @Steve & @December:

    The only major issue you’ll have by switching processing companies will be your gift cards if any of you has any and are being issued through world pay
    There is no way to transfer that information to any other platform.
    As for the kiosk service, since it’s a 3rd party it should have a list of specs for the processors, so they can provide the VAR Sheet for the configuration.
    That’s all I can think right now.
    If you guys have any questions or need anything, feel free to reach out. I’ll be glad to help.



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  5. December

    December Active Member

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    Im worried about that exact thing.. that Im just screwing myself over and Im just going to end up back with them anyway bc of one thing or the other.

    Im always trying to save money, not be taken advantage of, but If I save a dollar here it gets taken somewhere else everytime

    my parttime job is making sure im not getting robbed.
     
  6. December

    December Active Member

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    I may give you a shout next week, I have to think about my next move
     
  7. Steve

    Steve Active Member

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    I think the big part here is "not to be taken advantage of" because I feel the same way. To them, were just a couple of small timers so they don't really care if we leave or not. Doesn't matter if we're processing 200k or 1.3M. We have no leverage besides actually leaving and even if we leave a better deal isn't guaranteed. We'll make a decision out of spite and probably need to let things settle and see if there rates can be lowered after a few months or something

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  8. Steve.L

    Steve.L Active Member

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    Sure, no problem! Anytime you want!


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  9. Tom Engle

    Tom Engle New Member

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    I feel your pain. IMHO.. Worldpay is one of the most predatory credit card processors when it comes to smaller businesses. They mix lousy service with aggressive and nontransparent pricing. A Class Action Suit has been filed against them due to these tactics.

    That said, you can move your Gift Card program out of Worldpay by asking for a "liability report" with the complete card numbers. This report can be used to enter your Gift cards onto a new platform. Most processors can accommodate this request.

    If you switch your service out of Worldpay put a 'debit block' on your banking account against them. This will prevent them from assessing you monthly fees when the account is closed. Your commercial banker can help you with implementing the Debit block.
     
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  10. The Fat Boy

    The Fat Boy Active Member

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    Revention is a Ripoff they only process thru Worldpay/Vantiv now and that is it or they want to charge a gateway fee of like $199 a month
     
  11. Steve

    Steve Active Member

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    Giant Eagle "GetGo" gas stations near us started getting customers to use their "advantage pay" system which turns their loyalty card into a debit card with a pin. The withdrawal ends up being an ACH. It appears they've found a way around credit cards but how many people would link their accounts to a pizza shop with a loyalty card? Certainly would help offset costs

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  12. The Fat Boy

    The Fat Boy Active Member

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    what POS are you using