** Note that this company is NOT the same as Wholesale Payments Direct, a Canadian-based merchant services provider. **
Wholesale Payments includes a video on its website about its automatic surcharging program, where you can pass the costs of processing to your customers. The company claims that this results in “free” credit card processing, though it should be noted that there are still fees.
The video explains that you would price your goods or services as “cash price” and if customers choose to pay with a credit card, a 3.5% fee will be added when they checkout.
Note that surcharging is prohibited on debit cards and prohibited entirely (credit and debit) in 10 states.
Businesses operating in one of those states would not be able to use the automatic surcharge pricing option. Businesses that can use it may still have charges if a customer uses a debit card. (Debit cards “run as credit” are still considered debit cards and cannot be surcharged.)
The surcharging program also has a $49 monthly fee.
Read more about Free Credit Card Processing.
Wholesale Payments lets you take virtually any type of payment, including Visa, Mastercard, American Express, Discover, Diners’ Club, JCB, EBT, corporate cards, checks, and gift cards. The company allows for in-person payments at traditional brick-and-mortar locations such as restaurants and retailers or online payments for commerce stores or order-by-phone businesses. Wholesale Payments can also help pay-at-the-pump gas stations and convenience stores get set up to accept major credit and debit cards as well as fleet cards like Voyager and WEX.
Processing in-person can be done with wired or wireless terminals, depending on your preferences.
Related Article: How to Take Fleet Cards like Voyager and WEX.
The days of accepting and depositing paper checks are gone. Instead, there’s a more convenient option: electronin check conversion. With a connected check reader, you can accept a paper check and “convert” it into an electronic transaction at the time of sale, deducting the funds automatically from the customer’s account and eliminating trips to the bank. Additionally, Check Guarantee can reduce the risk of bad checks by following simple procedures that limit your liability and transfer it to your processor.
Funds are typically available in 2-3 business days.
With Wholesale Payments’ gift card program, you can choose from pre-designed or custom cards tailored to your business. Additionally, you can decide if cards will be issued in pre-determined amounts or custom dollar values. Cards are reusable and can be issued and redeemed through your processing equipment.
Reporting is included so that you can track the success of your program.
Businesses that need access to fast money for business expenses can apply for the merchant cash advance program. Unlike a traditional loan, cash advances don’t have an interest rate or a fixed monthy payment amount. Instead, you’ll essentially “sell” some of your future credit card sales in exchange for money upfront. Then you’ll repay that advance of money through an automatic deduction of a portion of your daily credit card sales.
Read more about the Pros and Cons of Merchant Cash Advances.
For traditional countertop credit card machines, Wholesale Payments offers universal Verifone models, including the popular Vx 520. If you’d prefer a mobile reader for your smartphone or tablet, Wholesale can offer a mobile app and secure card readers so you can take payments on the go.
Wholesale Payments doesn’t publish anything about traditional rates, fees, or pricing models on its website. Several reviews mention cancellation fees of $495, but that may change.
The company does post information about it’s automatic surcharging program, discussed above. As noted, the automatic surcharge program has a $45/month fee, and debit cards may also incur charges.
The good news is that you can still request a quote to review privately, with no sales calls. CardFellow’s quote request tool lets you get quotes from as many processors as you’d like without revealing your contact info. Best of all, it’s completely free. Try it now!
Wholesale Payments has quite a few customer reviews available online. Unfortunately, many of them are negative, accusing the company of deceptive practices. However, there are positive reviews as well, stating that the company has great customer service. Let’s take a look at what people are saying on popular review sites.
Wholesale Payments has been accredited with the Better Business Bureau since 2007 and currently has an A+ rating. The company has 3 positive reviews, but 6 negative reviews, along with 23 formal complaints lodged with the BBB.
The positive reviews say that the company is great, saves businesses money, and provides good customer service.
The negative reviews claim that salespeople didn’t give accurate information about costs, wouldn’t provide a copy of the contract, and engaged in bait-and-switch tactics. Some reviews state that Wholesale Payments claimed to be the business’ current processor in an attempt to get them to sign a new contract.
The formal complaints allege that Wholesale Payments changed contract terms after signing, that the business was misled about costs and pressured into signing contracts, that the company didn’t provide services as agreed, and that Wholesale forges signatures on applications.
Wholesale Payments responds to the complaints on the BBB’s website, but in most responses does not offer a resolution that the complainant is happy with. In some cases, Wholesale Payments simply shifts the blame to the customer and says that the customer signed a contract.
Wholesale Payments has 37 reviews on Google Reviews for an average 3.4-star rating. The 4- and 5-star reviews praise Wholesale as an excellent company to work with, upfront and honest, with efficient and helpful customer service. The reviews then drop to 1-star – there are no 2 or 3 star reviews at the time of this writing. The 1-star reviews complain of sales reps showing up in person after being told the business isn’t interested over the phone, slow delivery of equipment, expensive cancellation fees, poor customer service, and deceptive about costs.
Have you used Wholesale Payments? Leave a review!
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Posted by Kathy on Sep 22, 2021
Use high pressure sales through unsolicited calls. Told them not interested & they continue to call & email & they continue to beg for a copy of our latest credit card processing bill. Told them we’re under contract & they try to push sales by stating they will pay our cancellation fees. Told them our processor provides a POS register we purchased & claims they provide POS but wouldn’t answer questions about it. They, dont take no for an answer & continue to harass!
Posted by Terrie Martin on May 06, 2021
This is the worst credit card processing company. I keep getting words to do 1 more thing and they will release my monies. they have held over $2000 of my funds for over 30 days. Ridiculous. I am a well established company of over 32 years and never had a company deal with me like this before.
Posted by Burt Dalton on Feb 26, 2021
Sales representative forged my signature on the contracts and opened an account without my permission and customer service ignored my request for refund for fees for an account that was fraudulently opened.
Posted by Alex on Feb 15, 2021
The sales rep lies through his teeth about fees, monthly cost, equipment cost and cancelation policy and fees. customer service staff, who change their story every time you call them, and about everything. cancelation department that isn't available to talk to you for weeks after you request to cancel and change the fees every time.. bull..
Posted by susan on Mar 17, 2020
This is the worst place I have ever does business with .The refused to even give as email address to get InTouch with them. The rep refused his name and I called to cancel but they have no record of my call and just refused to give me any information so I can verify that I called the 2nd time.
Posted by Justin on Feb 21, 2019
Sales rep Hector Joey Alaniz from San Antonio came into on my business to try to sell credit card service. I was not in and got a call from the store from an employee. This guy was telling me and my staff that he was with my current provider and need to make changes to my POS. Saying I was getting overcharged and that he needs to chage things, when I ask who he was with he said he was my current provider, I ask so you are my current provider and he said yes. I know who my provider/local rep is and he is not my provider. I don’t have any issue with anyone trying to earn my business but be honest. This guy is the reason why credit card processing sales rep have a hard time and everyone hates them.
Posted by Pets Around The World on Jan 10, 2019
We used them for about the last 2 months. Our payments were going to our bank pretty quickly for a while, but then we discovered our payments were not being deposited for days, and just this last week, we're owed 10K in revenue for 9 days now and still counting. After contacting them, we were told to wait and they'll get processed. We unplugged their machine and hooked up our old processor and we're staying with them. Buyer beware...
Posted by John Incarnato on Aug 16, 2018
Cutting edge. They care about their customers.
Posted by John Sterling on Oct 31, 2017
Blake at Wholesale Payments lied to us about the savings, fees and cancellation costs. They don't save you what they promise. Couldn't cancel quick enough. Stay away from this company.
Posted by CardFellow on Sep 14, 2017
Wholesale Payments offers an automatic surcharge program to pass the cost of processing fees to customers. However, the company leaves out important details like the fact that the program can't be used for debit cards, so there will still be costs to the business.