The company’s slogan, prominently displayed on its website, is “the world’s best merchant service provider.” Does it live up to its self-imposed hype? As with all processing, the specifics of your business matter. When choosing the right credit card processing company, you’ll need to consider everything from pricing and equipment to customer service and reviews. Find out what you need to know about Riverside Payments.
In the News
In March 2017, Texas-based news organization KTXS published a piece on a small business that claims to have been scammed by Riverside Payments. The business, The Turtle Restaurant, claims that Riverside sent equipment that the business didn’t need and wouldn’t refund the owner for returning it unused. When Riverside continued to deduct money from the business’ bank account, the owner issued a stop payment through the bank, only to be faced with the threat of a lawsuit. KTXS contacted Riverside, but the company wouldn’t comment beyond saying they’re in litigation with the restaurant owner.What services does Riverside Payments offer?
All the usual processing services, and a few additional business services. You can get set up to take payments (in store, online, and via mobile device), accept checks, offer gift cards, provide an ATM inside your store or restaurant, and get a merchant cash advance. Riverside also boasts 24 hour funding for most businesses.In-store Processing
Riverside Payments works with many different types of business for in-person processing, including restaurants, retailers, gas stations and convenience stores, hotels, and more. You’ll be able to take major credit and debit cards (including Visa, MasterCard, Discover, and American Express) as well as EMV chip cards and newer technologies like Apple Pay.Online Processing
Running an e-commerce store? Riverside Payments works with the popular Authorize.Net gateway or can get you set up with the First Data Global Gateway or eProcessing Network gateway. All services include a virtual terminal, fraud detection, recurring billing, and QuickBooks plug-in.Mobile Processing
Taking payments by mobile device is an increasingly popular way to ensure you can always let your customers pay how they want to. Riverside Payments offers a free card reader and app so you can accept cards no matter where your business takes you. The app works with iPhone, iPad, and Android devices.Check Processing
You can streamline the process of accepting checks by converting them into electronic transactions prior to deposit. It eliminates a trip to the bank, it’s generally more secure, and it’s simple to do with a check imager attached to your PC or other processing equipment. Riverside Payments guarantees check funding in 3 business days.Additional Services
Beyond the basic payment services, Riverside Payments also offers a gift card program, ATMs, and cash advances.Gift Cards
Riverside Payments offers a gift card program with reusable, electronic gift cards. The gift card program includes free online reporting with real-time access to transaction tracking for quickly determining how much money is available on the card.ATM
If you’re considering an ATM in your store or restaurant for the convenience of customers who want to get some cash, Riverside Payments offers a full service ATM program that includes equipment and installation, cash replenishments, and processing.Merchant Cash Advances
At CardFellow, we generally caution against merchant cash advances, because they’re usually expensive and not in your best interest. You can read our reasoning in our article “Should You Get a Merchant Cash Advance?” But if you do want to take a cash advance, Riverside Payments provides that option. The company offers advances from $5,000 up to $1 million, and the funds can be used for almost any business expense.Can I get equipment from Riverside Payments?
Yes, you can. Riverside offers a few different options if you need a full point-of-sale system, including First Data’s Clover station or the NCR Silver tablet POS system. If neither of those systems are quite what you’re looking for, or if you already have a system you want to keep using, Riverside Payments may be able to offer additional choices or reprogram your equipment.Quick reminder: Clover stations are currently not reprogrammable. When you buy a Clover station, it will only work with the processor you buy it from, so be sure you’re getting the right solution before purchase to prevent an expensive mistake.
Also, while Riverside Payments does not include much information about equipment on their site, it appears from complaints elsewhere (including the Better Business Bureau website) that Riverside engages in leasing equipment through a third party leasing company. The company replies to one customer’s complaint about a lengthy equipment lease through Riverside by stating she would need to get in touch with the leasing company itself. We strongly recommend that you don’t lease a credit card machine, as it’s likely to cost you a fortune.Customer Service
Riverside Payments prides itself on customer service, relying on what it refers to as “90 day quality control calls” to make sure everything is going smoothly. The company also promises a dedicated “relationship manager” for every customer. That said, complaints available online for the company reference rude and difficult customer service.What does it cost?
Like many processors, Riverside Payments shouts “low rates!” from the rooftops, but doesn’t include any information about the costs, pricing model, or other details to help determine if it’s the right choice for your business. Not to worry. Requesting a quote from Riverside Payments through CardFellow is a fast, no-hassle way to see exactly what your pricing would be. You can get started with our price comparison tool in just a few minutes. Sign up for free.Is there a contract with early termination fee?
Probably. Riverside Payments doesn’t reference one on its website, but it refers to an early termination fee or $695 in response to customer complaints on the Better Business Bureau website. That’s a pretty steep cancellation fee when other processors offer $350, or, in the case of quotes through CardFellow, $0 cancellation fee. Note that in the case of equipment leases, there is likely a separate contract and cancellation fee. Your credit card processing contract and an equipment lease contract may be with two different companies. Be sure to read all paperwork before signing, and understand the length of the contract, cancellation terms and fees, and which company or companies are responsible.Riverside Payments Reviews
Generally it doesn’t look like people think highly of Riverside Payments on the internet. While it may be true that customers who are angry are more inclined to leave reviews than customers who are satisfied, Riverside Payments’ reviews and complaints on the Better Business Bureau’s site indicate some pretty serious problems.Riverside Payments at the Better Business Bureau
Riverside Payments is not currently accredited with the Better Business Bureau, but does have a profile. It has an A rating (on a scale of A+ to F) with 17 complaints and 40 reviews. Complaints allege difficulty cancelling, having merchant accounts tied to personal accounts instead of business accounts, and misleading terms and promises, including misinformation about rates, savings, and more. In all cases, Riverside Payments responded to the customer complaints, but none of the complaints are marked as resolved. The responses border on aggressive, and many reference a $695 termination fee if the business wants to continue with their request to cancel an account with Riverside Payments. Aside from the formal complaints, Riverside has 40 reviews at the Better Business Bureau’s site, some positive, some negative, and some neutral. The positive reviews praise the company’s customer service, tech support, and helpfulness, while the negative complaints accuse Riverside of broken promises, misleading sales tactics, and unethical behavior.CardFellow’s Experience with Riverside Payments
A sales rep for Riverside Payments approached a CardFellow client and promised better pricing. When the client called CardFellow to ask our advice, we offered to compare the quote to his current pricing. We reviewed the quote and found that it was a misleading offer based on incorrect information and promising savings too good to be true. We thoroughly explain and debunk the quote in this article: CardFellow Debunks Misleading Credit Card Processing Quote. Given this experience, we’re not surprised by complaints online that Riverside often promises savings that never materialize.
Ben Dwyer
Ben Dwyer began his career in the processing industry in 2003 on the sales floor for a Connecticut‐based processor. As he learned more about the inner‐workings of the industry, rampant unethical practices, and lack of assistance available to businesses, he cut ties with his employer and started a blog where he could post accurate information about credit card processing. As the blog gained in popularity, Ben began directly assisting merchants in their search for a processor. Ben believes in empowering businesses by providing access to fair, competitive pricing, accurate information, and continued support. His dedication to transparency and education has made CardFellow a staunch small business advocate in the credit card processing industry.
