Capital Merchant Solutions

Capital Merchant Solutions: Complaints, Lawsuits, Fees, and Rates In 2024

Capital Merchant Solutions, also known as TakeCardsToday, is a well-regarded provider of merchant accounts, specializing in meeting the needs of small and medium-sized businesses. Established in 1997 and headquartered in Bloomington, Illinois, this company has earned a solid reputation as a trusted nationwide provider of payment services, serving a diverse clientele throughout the United States.

Capital Merchant Solutions provides a wide range of payment processing solutions specifically designed to meet the unique requirements of businesses. Their primary focus is on delivering affordable credit card processing services and mail merchant accounts for both e-commerce and retail establishments, streamlining payment processes, and ensuring seamless transactions.

With over a decade of experience, Capital Merchant Solutions has been instrumental in assisting entrepreneurs in obtaining merchant accounts for credit card processing. The company takes pride in offering discounted rates for credit card processing, enabling businesses to reduce transaction costs. Moreover, they offer complimentary programs for point-of-sale (POS) terminals and wireless systems, equipping businesses with the necessary tools to effortlessly manage payment processing.

Capital Merchant Solutions is a registered ISO/MSP (Independent Sales Organization/Merchant Service Provider) affiliated with Deutsche Bank Trust Company Americas in New York. Under the leadership of CEO Chris Nelson and President Russ Link, the company continues to provide exceptional services to its valued clients.

The significance of Capital Merchant Solutions for businesses cannot be overstated. In an era of increasing reliance on electronic payments, having a dependable and efficient payment processing system is crucial. Capital Merchant Solutions addresses this need by providing a diverse range of services tailored to businesses of all sizes and industries. These services encompass credit card acceptance, mobile credit card processing, mobile point of sale solutions, online credit card processing, small business processing, telephone processing, and wireless payment processing. By offering customized solutions, the company caters to the specific payment requirements of its clients.

Over the years, Capital Merchant Solutions has established a commendable reputation built on excellence, placing a strong emphasis on quality, value, and exceptional customer service. The company is dedicated to maintaining high industry standards through competitive pricing, innovative products, and robust customer support.

In this article, we will delve into discussions surrounding various aspects of Capital Merchant Solutions, including customer feedback, legal matters, fees, and rates.

Capital Merchant Solutions: Payment Processing Features

Capital Merchant Solutions: Payment Processing Features

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Capital Merchant Solutions provides a comprehensive range of payment processing features tailored to meet the diverse requirements of businesses. Irrespective of whether you own a small brick-and-mortar store, operate an e-commerce website, or offer professional services, their extensive set of tools is designed to streamline your payment processes and elevate the overall customer experience.

Versatile Payment Options: Capital Merchant Solutions caters to a wide array of payment preferences, including credit cards, debit cards, mobile payments, and electronic checks. This flexibility empowers businesses to accommodate their customers’ choices and facilitate smooth transactions.

Efficient Recurring Billing: For enterprises in need of recurring billing services, such as subscription-based models or membership organizations, Capital Merchant Solutions offers a streamlined solution. By leveraging automated recurring billing capabilities, businesses can establish scheduled payments for their customers, reducing administrative burdens and optimizing cash flow.

Secure Online Payments: In today’s digital landscape, a robust online payment system is indispensable. Capital Merchant Solutions equips businesses with secure and customizable online payment gateways that seamlessly integrate into websites or e-commerce platforms. This enables customers to make payments conveniently and with confidence, resulting in improved conversion rates and heightened customer satisfaction.

Virtual Terminal: Capital Merchant Solutions’ virtual terminal empowers businesses to accept payments over the phone or through mail orders. This feature is particularly advantageous for industries that rely on remote transactions or cater to customers who prefer non-online payment methods. The user-friendly virtual terminal provides a secure platform for seamless credit card payment processing.

Point of Sale (POS) Solutions: To cater to businesses with physical storefronts, Capital Merchant Solutions offers a robust point of sale solutions. These POS systems come equipped with advanced features such as inventory management, employee management, and reporting analytics. Additionally, they seamlessly integrate with various hardware options, including card readers and barcode scanners, enabling businesses to streamline operations and enhance efficiency.

Mobile Payments: Recognizing the growing popularity of mobile devices, Capital Merchant Solutions provides mobile payment solutions that enable businesses to accept payments through smartphones and tablets. This offers convenience and flexibility to both businesses and customers alike.

Integration Capabilities: Capital Merchant Solutions understands that businesses often rely on multiple software systems to manage their operations. Hence, they offer seamless integrations with popular accounting software, customer relationship management (CRM) systems, and e-commerce platforms. This integration streamlines the payment process, reduces manual data entry, and enhances overall operational efficiency.

Common Complaints in Capital Merchant Solutions

While Capital Merchant Solutions is widely recognized as a reputable payment service provider, it’s important to acknowledge that some customers have raised complaints regarding their services. Familiarizing oneself with these common issues is crucial for businesses evaluating their options. Here are the primary concerns frequently expressed by clients of Capital Merchant Solutions:

Inadequate Customer Support and Communication

Some customers have voiced frustration regarding unresponsive or unavailable customer service representatives. The lack of timely assistance has left certain clients feeling dissatisfied and struggling to address their concerns effectively.

Hidden Fees and Pricing Structures

Complaints regarding hidden fees and undisclosed pricing structures have been prevalent. Some customers have reported feeling misled or deceived by Capital Merchant Solutions’ representation of rates and fees. The lack of transparency in pricing can lead to unexpected costs for businesses, causing financial strain and frustration.

Difficulty in Contract Termination or Provider Switching

Several customers have faced challenges when attempting to terminate their contracts or transition to alternative service providers. The process of canceling services or changing payment solutions has proven cumbersome and time-consuming for some clients. This difficulty in contract termination can create an unfavorable experience and hinder businesses from exploring better options.

Unsatisfactory Equipment or Technology

Certain customers have expressed dissatisfaction with the quality and reliability of the equipment and technology provided by Capital Merchant Solutions. Issues reported include malfunctioning credit card terminals, outdated technology, and difficulties with integration or compatibility. These concerns have disrupted operations and affected the efficiency of payment processing for some businesses.

Delayed or Withheld Funds

Complaints about delayed or withheld funds have also been raised by clients. Some customers have experienced delays in receiving funds from processed transactions or have faced challenges accessing their funds due to unexpected holds or account freezes. These situations can significantly impact cash flow and business operations.

It is worth noting that Capital Merchant Solutions has taken measures to address and resolve these complaints. The company has responded to certain issues, successfully resolving them and satisfying customers. However, businesses considering Capital Merchant Solutions should be aware of these common concerns and conduct thorough research before entering into any agreements.

Capital Merchant Solutions, with a presence in the United States for over twenty years, has been offering payment services to businesses. While there have been complaints from a portion of their clients, it is noteworthy that no significant class-action lawsuits or Federal Trade Commission (FTC) complaints have been filed against Capital Merchant Solutions thus far. However, customers who have had unfavorable experiences with the company may explore alternative options to address their concerns.

Fees and Rates

Capital Merchant Solutions is a reputable merchant account provider catering to the needs of small and mid-sized businesses. Their services primarily focus on processing debit and credit card payments, along with additional offerings such as ACH/check processing, wireless processing, POS systems, online payment gateways, and merchant cash advance services. The company provides four distinct pricing plans:

  • FlexiPay Plan: This plan offers flexibility with no monthly fees involved. Instead, you are charged a transaction fee of 4.95% plus $0.35 for each transaction, allowing you to pay as you go.
  • StoreFront Plan: With the StoreFront Plan, a monthly fee of $20 is applicable. It includes a per-transaction fee of interchange plus 0.15% plus $0.25, providing businesses with a comprehensive retail payment solution.
  • WebTrade Plan: Designed for e-commerce businesses, the WebTrade Plan requires a $35 monthly fee. It incorporates a per-transaction fee of interchange plus 0.20% plus $0.25, empowering online merchants with efficient payment processing capabilities.
  • MobileWave Plan: The MobileWave Plan involves a $35 monthly fee and a per-transaction fee of interchange plus 0.20% plus $0.35. This plan is ideal for businesses that require mobile payment solutions to accept transactions on the go.

The expenses associated with the terminal are included in the monthly fee for each plan. However, the data plan for the wireless terminal option incurs an additional monthly fee of $20. Capital Merchant Solutions stands out with its round-the-clock live support and commitment to transparency, ensuring customers that there are no concealed fees.

It is worth noting that Capital Merchant Solutions has encountered customer grievances, such as issues related to the accurate representation of rates and fees, lack of transparency in terms of disclosure, and subpar customer service. The Better Business Bureau (BBB) has assigned the company an “F” rating, and there have been three complaints filed against them in the past three years. However, it is important to mention that the overall complaint volume remains relatively low when compared to similar companies in the industry.

Capital merchant solutions customer support

To cater to their client’s needs, Capital Merchant Solutions offers various customer support options. These include a helpdesk available 24/7 and a dedicated email address ([email protected]) for assistance. They can be reached through different customer service numbers, including a toll-free number (877-495-2419) and a local office number (309-452-5990).

Additionally, they provide fax support (866-711-8244) for convenience. While their current customer service ratings may not be at the top, Capital Merchant Solutions strives to promptly address customer complaints and work towards satisfactory resolutions. They also offer setup assistance through resources like documentation, a knowledge base, and live online support. Overall, the company ensures multiple avenues of customer support, including a 24/7 helpdesk, dedicated email, and various contact numbers, to meet the diverse needs of its customers.

Bottom Line

Capital Merchant Solutions is an esteemed provider of payment processing services, offering a wide range of solutions tailored to meet the unique requirements of businesses. Through their cutting-edge technology, reliable payment processing, competitive pricing, and unwavering customer support, they aim to empower businesses to thrive in the digital landscape. Whether it’s accepting payments online, in-store, or on the go, Capital Merchant Solutions equips businesses with the necessary tools and resources to simplify payment processing and enhance customer satisfaction. By leveraging their comprehensive features and unwavering commitment to delivering exceptional service, businesses can streamline their operations, improve efficiency, and foster sustainable growth.

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