velocity lllc review 2022

Velocity, LLC Review 2022: Complaints, Fees, and Ratings

When it was launched in 1999 as a merchant services provider for businesses of all sizes, Velocity, LLC was called Velocity Marketing Partners. This Velocity LLC Review 2022 has all the information you need to make an informed decision on a payment processing company. Let’s get started!

What Velocity LLC Review Offers?

Downers Grove, Illinois-based Velocity LLC Services is a supplier of merchant accounts. Online, Velocity Merchant Services does not provide any fees or charges. 

In fact, there isn’t even a price page with false assertions promising inexpensive charges and simple statements. Velocity LLC prefers that you contact one of its sales representatives. It provides processing options for companies of all sizes and kinds, including the following.

Overall Summary of Velocity’s Payment Processing Services
Headquarter  Downers Grove, IL
Contract 4 years 
Service Charges  $35 monthly charges 
PCI Fee $105 annually
Online Complaints  60+
Service Support  Yes

 

Velocity LLC Origin, Headquarters, and Owners

Demo Barakat, the company’s founder, and her husband Danoush Khairkhah manage it as a husband and wife partnership (CEO). Until 2006, Dema Barakat worked as an employee of EVO Merchant Services before registering her ISO and launching Velocity LLC. It employs approximately 50 individuals throughout its branches and produces $22.8 million (USD) revenues.

Important News in History

Vendors that signed Velocity equipment rentals before October 2014 were generally unaware that they were entering a separate deal with Northern Leasing, which resulted in considerable misunderstanding.

Currently, the firm is still leasing POS equipment and terminals via First Data Global Leasing.

What Services Velocity LLC Offers?

VMS’s essential card payment processing services support all major credit and debit card brands. Additionally, in-person purchases may be completed using various payment methods such as EBT/SNAP and contactless payments, and EMV cards. You may use Velocity’s virtual terminal, online payment, and website construction capabilities if you want to do ecommerce or mail/phone order service.

  • In-Store Processing

It’s common knowledge that many consumers take card payments for granted if you run a brick-and-mortar store. If you use Velocity LLC, you won’t have to worry about missing a sale due to a lack of credit card processing choices. If you’re in the equipment market, you may also find it here: terminals and POS systems.

  • Smartphone Processing

Mobile processing is an excellent alternative if you’re always on the go and need a fast and easy method to accept payments. Clover Go and iCharge are two payment options available via Velocity LLC Services. Small card readers attached to your smartphone or tablet and used to accept card payments are available from both companies, as well.

While Clover Go and iCharge only take EMV chip card payments, they both include reporting features like tip adding and receipt emailing/texting. Clover Mobile, a comprehensive point of sale system that may be carried, is also available. Contactless and swiped card payments may be made with this device.

  • Virtual Payments

With an online store, your consumers may shop whenever and from anywhere they want as long as they have access to the internet. Online payment processing may be done through an ecommerce website or by filling out a payment form using Velocity LLC Services’ cloud-based virtual terminal and gateway. Startups that accept orders over the phone or mail may use virtual terminals, while e-commerce sites can use payment gateways.

You don’t have to manually charge your clients whenever they have a payment due using Velocity LLC Services’ recurring billing option. For convenient order administration, VLLC syncs with QuickBooks.

  • Insights Programs

New ideas may be sparked by learning about your clients’ purchasing behavior and how much revenue your rivals generate. As the name indicates, Velocity LLC provides First Data’s Insights program, which is designed to assist businesses in getting insights into their customers’ purchasing habits.

  • Cash Advances

Merchant cash advances are offered through Velocity LLC Services. However, it is essential to remember that they might be significantly more expensive than loans.

Pricing of Velocity LLC

Additionally, the Smart Choice Payments merchant application on which Velocity, LLC depends uses a virtual terminal and payment gateway provided by Payeezy, which is powered by First Data, in addition to its storefront payment processing capabilities (Fiserv). Payeezy provides two different subscription plans: The Basic Plan and the Pro Plan. There are no setup costs, statement fees, or gateway fees associated with any plan.

  • In the case of the Basic Plan, the rate is 2.90 percent + $0.30
  • The Pro Plan has a reduced interest rate of 1.89 percent + $0.23 each quarter and a monthly charge of $19.95

Service Reviews of Velocity LLC

We have collected some of the Velocity LLC Service Reviews from the famous sites, which are:

  • Reviews from Google

According to the 26 Google reviews, the most common issue is cold calls. According to reviewers, VMS personnel kept calling them even after making it apparent that they were not interested in their service. A total of 13 customers have praised Velocity LLC Services for their exceptional customer service and helpfulness in addressing problems.

  • Reviews from Ripoff Report

The Ripoff Report has received a total of 18 complaints about misleading conduct. Here, the concerns regarding contract conditions and cancellation costs are repeated. Other customers have complained that the firm has fabricated data. One or two ex-employees have come forward to claim that their employers urged them to use pushy sales methods, provide misleading information, and portray their employer as Visa MasterCard.

  • Reviews from Yelp

Finally, complaints about misleading sales methods and poor customer service may be found on Yelp. Velocity LLC has four 1 star reviews. However, one reviewer said that the CEO reached out to him and corrected his pricing to make it worthwhile to continue working with the firm.

Conclusion

Like many of its aliases, Velocity is a substandard merchant service. Merchants have complained more often after the company’s name change, and the company’s marketing services have further exacerbated the problem.

Do not confuse Velocity, LLC with Velocity Merchant services. Velocity has approached vendors who have been encouraged to seek and evaluate all documents before joining up with Velocity.

Contact

(888) 505-6477