Volt Payments, founded in 2013, is a business account service. The business is a part coming under The Federated Group companies. This payment processing network includes the National Debit Network, Consolidated Transactions, and US Bankcard, among a few others. A thorough Volt Payments review will guide you through the benefits and drawbacks of the company.
Volt Payments owns the headquarters address: the first is in Melville, and the second one is in Ontario. Volt Payments is a merchant services provider with operations in the United States and Canada. Volt Payments’ website does not seem operational as of this update. We believe the company is no longer in business.
Volt Payments: Brand Overview
This company is a Deutsche Bank, registered MSP, and ISO. Federated Payments, based in Melville, shares the company’s headquarters. Volt Payments also has an address in Ontario.
According to several third-party web resources, Jon Levitt is the CEO. They launched Volt Payments in 2013, but it seems to have some doubt over if it is or it isn’t the company still in operation. The company’s website is up and running, and it seems that it is trying to attract new customers.
The VP of corporate and marketing communication is Greg Slote. He is the writer of multiple blog postings on their website. These two businesses probably share employees.
Pros
● Help with cash management and reports
● Accepts all big credit cards
● The setup is quick
● To avoid hanging out and waiting, submit a ticket to tech support
● Excellent merchant website integration help
Cons
● Doubtful Marketing, which includes alleged early termination fraud
● A large volume of customer complaints
● There is a lack of transparency about many aspects of their operation, including price and fees
Complaints, Fees, Rates, Customer Feedback
Volt Payments Review Based on Complaints and Customer feedback
Even though Volt Payments is not affiliated with the Better Business Bureau and does not have a rating, the firm does have a profile on the BBB website. According to BBB’s records, this company is no longer in operation.
Currently, more than ten critical comments are available online concerning Volt Payments. Most of these testimonials allege that the business is a con or a rip-off.
Volt Payments Review Based on Rates and Fees
There is limited available information online about Volt Payment’s pricing and fees. The payment gateway charge is not disclosed, and the swiped rate, keyed-in rate, and virtual terminal rate are between 1% and 4.99%.
There is a $5.95 monthly statement fee, and Volt Payment’s PCI Compliance fee may range from $80 to $200 monthly.
Volt Payments Review Based on Advertising and Sales
Volt Payments markets its services through a combination of separately contracted sales staff and phone appointment setters. While the company doesn’t offer false rates on its website, it has been accused of using other deceptive practices as part of its strategy.
According to one sales employee, Volt Payments will deactivate merchant accounts and penalize them the fee for early termination specified in their contract. Afterward, the corporation will contact the merchant under various business names to make another attempt to get them on board.
This corporation also reported sending messages to former sales colleagues to make them offer its items under new business names.
Volt Payments Review Based on Setup and support
Since Volt Payments provides merchants with virtual gateways, the onboarding process for using this company’s services is incredibly streamlined. The corporation’s website provides a self-boarding option that can be accessed through a page specifically designated for developers.
On the website for Volt Payments, programmers will discover a support channel that will enable them to send a ticket for tech assistance. In addition, the website contains a page labeled “Contact,” which lists email addresses for customer service, sales, and general questions.
Volt Payments Review Based on Product and Services
To better serve its merchant clients, Volt Payments cannot offer point-of-sale (POS) terminals or some other form of hardware. Instead, it offers payment gateway facilities that may be self-boarded by the developers of a merchant’s e-commerce site.
Integration is covered in detail on a page of the firm’s website devoted to the topic, and all relevant API documentation is easily accessible. Volt Payments provides an omnichannel checkout option. The company also promotes an optimized and data-driven quick backend experience for its customers.
Volt Payments somehow doesn’t give value-added options that are available from other providers of merchant accounts; nonetheless, the business does provide tools for thorough cash and reporting flow management.
When a merchant chooses Volt Payments as their payment processing solution, they will gain tools for reconciling, managing, and reporting transactions. Quick notifications will offer them information about deposits and chargebacks and further insights.
Additionally, the organization offers solutions to help with balancing, which have been developed in such a way as to cater particularly to the needs of merchants who operate high-velocity cycles of cash.
Payment and Services
Their site is vague about the kinds of payments and services their gateway accepts. However, given that the company’s website utilizes the word “omnichannel,” it logically follows that it ought to support the following:
● Payments were received from 4 of the biggest credit cards
● Payments by debit card
● ACH transactions
● Payments by electronic check
● Mobile wallet payments such as Apple Pay as well as Google Pay
Volt Payments Review Based on Contract and Terms
Research indicates that agreements may be for three to five years, with annual renewal for one year. However, Volt Payments’ website does not divulge any company contact information. You will assess a cost of $395 for early termination.
Conclusion
According to the criteria we used to rank merchant service providers, Volt Payments falls into the middle of the pack. There is little tendency to presume that the firm’s sales techniques, price, contract conditions, or even the staff much differ from Federated Payments.
Volt Payments is not currently the subject of any active class-action lawsuit or FTC complaints, as far as our research has been able to determine. Merchants who are unhappy with the company and want to pursue a plan of action against it that does not include litigation should consider notifying it of the provisions related to organizations.
Merchants should evaluate the company’s contract terms compared to those provided by highly regarded all-purpose providers.
