Quantum Merchant Services is an organization that offers back-end processing services for merchants. Some of their competitors include First Data, Square, and Stripe.
If you’re thinking about working with Quantum Merchants or are simply researching the company to see if it’s a good fit for your business, you probably want to know more about them before making your decision. This Quantum Merchant Services review will tell you everything you need to know about Quantum Merchant Services so you can make an informed decision.
Quantum Merchant Services: Review
Quantum Merchant Services is a back-end payment processing company. They provide merchants with proprietary card readers, software, and online portals to process payments.
Their customers are mostly service-based businesses like salons, spas, yoga studios, etc. They can also be used by retailers that do not want to deal with accepting cash or dealing with credit card chargebacks.
One of the biggest benefits of using Quantum Merchant Services is that they are PCI compliant, meaning they have undergone rigorous security audits and will meet the very strict security standards set by the PCI Security Standards Council. This is important because the Council does not give out security certifications lightly.
Quantum Merchant Services uses tokenization technology to protect customers’ sensitive payment data. The credit card information is replaced with a random code when sent to your servers. This makes it much harder for hackers to break into your system and steal payment data.
Pros
- Large merchant network
- Competitive Pricing
- Easy to use
- Different payment types
- Excellent customer service
- Good customer feedback
- Easy to set up
Cons
- No in-house fraud protection
- Will need your merchant account
- High fees
Complaints, Fees, Rates, Customer Feedback
Quantum Merchant Services Review Based on Rates and Fees
Quantum Merchant Services offers two different plans; customers can sign up for one when they create a new account.
- The Processing plan allows you to accept credit card payments and process them through your merchant account. This is the cheapest plan and costs just $29 per month
- The Full-Service plan allows you to accept all types of payments, including cash, checks, and cards. This plan has a higher price tag of $69 per month
Quantum Merchant Services also charges a 2.5% fee for handling each payment. They charge $0.25 per transaction, but this number is rounded up to the nearest penny.
Quantum Merchant Services Review Based on Complaints and Customer feedback
As we mentioned earlier, Quantum Merchant Services has a high rating with the Better Business Bureau and has won several awards. However, it is important to note that many of our complaints were about the company’s billing practices.
Quantum Merchant Services is upfront about its billing practices, which makes it difficult to accuse them of misleading customers. However, some customers believe that the amount they were charged for processing their payment was too high.
There have also been a few complaints about the customer service team at Quantum Merchant Services. One customer reported that it took First Data more than a month to process a refund. Another customer said he had trouble getting a refund after canceling his account.
These complaints are not typical, however. Based on what we’ve seen, most customers are very happy with the service they receive from Quantum Merchant Services.
How Does Quantum Merchant Services Work?
Quantum Merchant Services offers a turnkey payment processing solution for businesses of all sizes. When a customer pays for a service or product using their card, the merchant is notified to pick up the payment. The merchant can then process the payment using the Quantum Merchant Services online portal or via the Quantum Merchant Services mobile app.
You do not need to use the portal or app; you can process payments manually if you prefer to do things that way. Quantum Merchant Services offers two different payment plans. One is called the Processing plan, which most businesses need. The second is the Full-Service plan, which includes services like customer service, marketing assistance, etc.
Is Quantum Merchant Services a Scam?
As we’ve seen, there is good reason to believe that Quantum Merchant Services is not a scam. They have been in business since 1995 and provide a legitimate service that thousands of businesses use to process their payments.
There is nothing to indicate that Quantum Merchant Services is scamming its customers. However, there are some things you should watch out for. It is important to read the fine print before choosing a payment processor. Ensure you understand all the fees and that they are not charging you more than you expect.
The biggest issue with any payment processor is that there’s room for error and miscommunication. Your business will depend on that third party to handle transactions, and if they aren’t doing it correctly, it could have major consequences for your bottom line.
Who Can Benefit from Working with Quantum Merchant Services?
Quantum Merchant Services is a good fit for most businesses, but they have some limitations. Some businesses will not want to deal with credit card chargebacks. If you are primarily accepting cash payments, you can avoid chargebacks. However, if you accept credit cards, you will inevitably deal with them at some point. Fraudulent chargebacks are one of the biggest disadvantages of accepting credit cards.
They are also one of the biggest benefits because they ensure that customers are treated fairly. – If you accept many small payments, you should be careful. If a customer pays you $1.50 on their credit card, you will be charged a fee of $0.25. This can add up, and some businesses have reported that accepting small payments has become too expensive.
Conclusion
If you are looking for a payment processor, consider working with Quantum Merchant Services. They offer many benefits and have very competitive pricing. Still, you should ensure you understand their policies before signing up for their service and be careful to avoid any misunderstandings or miscommunications.
