A merchant account provider headquartered in Portland, Oregon, Mom & Pop Merchant Solutions was originally established as Securus Cash & Capital in 2007. Initially, the company was created as a subsidiary of Excel Corporation, providing working capital to small businesses. In 2009, it expanded its reach to Mexico and Canada and started dealing with businesses in China, Australia, and Japan in 2013.
Mom & Pop started its merchant cash advance division in 2015. It rebranded to its current name in 2016 to operate as an independent organization. The company is a Fiserv reseller, partnered with multiple ISOs to provide quick unsecured business loan approvals and assist merchants in getting same-day funding. Its highly efficient underwriters access all the risk factors, giving merchants a better chance at succeeding.
The provider’s ideology is based on honesty and integrity. With its all-hands-on-deck approach, the company provides the necessary financial support, speeding up a business’s growth while enabling small companies to make ends meet. Here is a detailed Mom & Pop Merchant Solutions review concerning its pros and cons for merchants to decide if it is the best fit for their business;
Mom & Pop Rates and Contract Details
Instead of offering merchant accounts, the provider focuses on merchant cash advances, financing small businesses (that cannot receive traditional loans) in exchange for future receivables. Depending on the business type, size, and processing history, consumers are bound to variable terms. Even though the company can open new merchant accounts, it does not offer insight into its fee structure and contract intricacies.
According to Mom & Pop Merchant Solutions review, merchants are offered a tiered pricing plan with a $495 early cancelation fee. They pay 2.69% plus $0.30 for swiped and 3.69% plus $0.30 for keyed-in transactions. Merchants who process more than $50,000 per month pay a per transaction rate of 2.29% plus $0.19 for swiped and 3.29% plus $0.19 for keyed-in payments.
The company charges a $19.95 monthly PCI compliance fee and binds consumers to a four-year non-cancelable equipment lease term through First Data Global Leasing. Deduced from reviews, the provider does not offer competitive rates.
Consumer Support Options
It is unclear whether the provider offers its own consumer support or refers the merchant accounts to a third-party processor. One phone number, an email address, and a live chat option are available on the official website, but consumers are unsure if it is for general queries or reserved for them to address their complaints. Considering its large clientele, the company’s sub-par consumer support options need improvement.
Marketing and Sales Practice
The company utilizes telemarketing and employs independent sales representatives to promote its services. Even though there is no indication of deceiving quotes, Mom & Pop does not disclose all the necessary information. The provider claims to take a percentage of the daily sales, but it is unclear if there are any additional charges with this withdrawal. Merchants are advised to seek a third-party audit to discover any hidden charges.
Mom & Pop Products and Features
Mom & Pop serves most B2B, retail, mobile, and wholesale businesses. It caters to multiple industries, including telemedicine, electronics, beauty, healthcare, restaurants, contractors, automotive, convenience stores, and personal services. The provider helps consumers find alternative funding options even if multiple banks have turned them down in the past. Merchants can avoid the time-consuming approval process and filling piles of paperwork.
The company accepts all major credit card brands but offers no software, hardware, or value-added services. There is no evidence of any services offered to merchants except for cash advances. After establishing a merchant account through Fiserv, the provider accepts ACH and EMV processing and offers check guarantee services. Merchants can benefit from its dunning management feature, online invoicing, and subscription billing option.
Mom & Pop Merchant Solutions reviews indicate that the company facilitates contactless payments and processes credit and debit card transactions under rare circumstances. However, according to the owner, merchants are not likely to rely on the provider to take over their processing, and consumers utilize its services solely for merchant loans.
Mom & Pop Merchant Solutions Reviews and Complaints
There are more than 300 reviews cited online for the company and multiple informal complaints on multiple consumer protection websites. Most negative reviews concern the high-interest rates for cash advances, undisclosed information, and insufficient customer support. There are multiple complaints about the ISOs’ using deceptive tactics and luring new merchants into paying a ridiculous amount of money,
The provider has no mentionable lawsuits or FTC reports on its plates. However, new merchants should be worried about the abundance of negative reviews on various platforms.
Better Business Bureau Report
The provider is not accredited by Better Business Bureau but is rated A+ on its BBB profile. Three informal complaints are posted against the company on the review platform concerning the company’s multiple ISOs. Merchants have shown frustration over being misled by a sales agent and losing a huge chunk of money.
Drawbacks and Complaints
Numerous complaints claim the provider to be a scam, hiring multiple inexperienced sales representatives. Consumers complain that they are bombarded with sales calls, and the agents practically bully them if asked about the company’s authenticity. The negative reviews concern the sales tactics and staged comments by the administration. Below is a Mom & Pop Merchant Solutions review regarding the many drawbacks faced by its clients;
Below-Average Customer Service
Customer support is an integral part of a service provider as it is intimately connected to the clients and their satisfaction. If a company has a well-trained and empathetic customer service team, its customers will likely stick with it as they feel heard. On the other hand, a facilitator with poor customer service will lose its clients’ trust over time, even if it provides a long list of services.
Mom & Pop has limited support options, only available during specific hours. There is only one phone number, which is not specifically reserved for customers’ helpline. Merchants are not assisted by a dedicated manager or offered front-line problem-solving support.
Unethical Sales Practices
Various Mom & Pop Merchant Solutions reviews have hinted at the company’s unethical marketing tactics and false claims by its ISOs. The provider has employed untrained sales reps who focus on onboarding new clients without understanding their needs. Merchants have complained that the promised things are not delivered after signing the agreement, and they are misguided by the sales team.
Some consumers have commented that when questioning the company’s authenticity, they are bullied on calls and have received hate speeches and offensive emails. Merchants have stated that the provider attracts them with attractive rates and perfect deals but hits them with reality by taking its words back after the contract is signed. It proves the provider is unprofessional and uses childish tactics to lend clients.
Unrevealed Information
After dissociating from Securus Payments, the company has not updated merchants with the latest version of its contract terms and features. Merchants are deprived of basic knowledge about its services and pricing details. Concealed information leads to misunderstanding and frustration. Merchants cannot determine if they can trust the company with their business.
Horrible Management
Good management maximizes a company’s potential, leading its clients to success, whereas unprofessional management can lead to immense chaos. There are numerous Mom & Pop Merchant Solutions reviews concerning the company’s terrible management and horrible administrative practices. Consumers are furious about being ignored and not given the necessary attention by the team. It takes days for merchants to reach an account manager who only misleads and disregard their concerns.
Limited Services
The company only provides limited services and caters to specific merchant needs. Even though it offers credit card processing, it is not competitive with industry-leading payment facilitators. It focuses on merchant cash advances and fails to deliver the best for merchant accounts. Merchants looking for excellence in credit card processing should seek another service provider.
High Rates
Mom & Pop is not as affordable as most merchants would expect. It charges a high compliance fee and demands an expensive early cancelation fee which is a big red flag. The variable pricing is not a positive sign either. In dynamic pricing, different merchants pay different prices for similar services; some will have to pay a higher price than the rest, leading to unsatisfied clients. The company’s pricing is overall unaffordable for most consumers.
Final Thoughts
Deduced from this Mom & Pop Merchant Solutions review, the company is not a reliable payment facilitator. The plethora of online complaints and merchant claims about deceptive marketing and horrible services are enough to prove that businesses associated with the company are misled. They are tricked into staying in an unwanted agreement and forced to keep it.
It is evident from the reviews that the company lies about its services, mistreats its clients and employees, and does not train its staff to prioritize customer satisfaction. Merchants are advised to look for a payment facilitator offering complete transparency, truthful claims, and purveying honest approach.
