Volt Payments


Country United States
State Chile
City Melville
Address Two Huntington Quadrangle 3rd Floor North
Phone (866) 912-8779
Website www.voltpayments.com

Volt Payments Reviews

Most Useful Comment
  • Jul 21, 2014

Any business that may be using, or considering Volt Payments, www voltpayments.com, a division of Federated Payment Systems should consider the following. The reason for this warning is because the following information is typically not discussed during the solicitation of a merchant account. In fact, many of the sales people at this company know very little about these charges or procedures because they are not provided with the information during training.

1) The standard merchant service agreement that you would sign from Volt Payments is a three to five year contract. This can be found in the small print on the last page of the agreement under the fee section. The typical early termination or cancel fee is $395. Many sales people have been known to tell businesses that the cancel fee does not apply if they close their business. It has been my experience that this is untrue. TYPICALLY, YOUR CONTRACT WILL AUTOMATICALLY RENEW EVERY YEAR. In order to stop your contract from automatically renewing, you will need to contact them directly 30-90 days prior to the renewal date.

2) The rates that you pay to except a credit card will very. Make sure that you understand what a mid-qualified and non-qualified surcharge is along with the full rate. These surcharges are applied on top of the qualified rate that you're given. The qualified rate is usually the lowest rate advertised. Typically, the same section of the contract that discloses the cancellation fee will also disclose your additional charges. Remember, the mid-qualified and nonqualified is added on top of the qualified rate.

2.1) The only time that you will be charged a qualified rate is if you swipe a credit card through a credit card machine and the credit card being used is not a business card or a rewards card. Made a qualified transactions are typically cards taken over the phone or rewards cards. Nonqualified transactions are typically business cards being accepted. What if all of your transactions are over the phone or the Internet? Do not be fooled by the term "Moto". The term multi-is typically used to imply that a business is being given special rates for taking all of their cards over the phone or internet. The same qualified, mid qualified, nonqualified structure will typically still apply.

3) A monthly minimum charge is normally applied. The monthly minimum is an amount that you will be charged no matter what. It is essentially the lowest amount that your monthly statement will ever show in fees. It has been my experience that many sales people will tell you the minimum only applies if you do not use the account. Another explanation of the monthly minimum is, if you process more transactions than the amount of the monthly minimum you will not be charged it. These are both untrue. You will be charged the monthly minimum unless your transaction fees exceed the minimum amount. And remember, not all transaction fees count towards the minimum.

4) Miscellaneous monthly charges may apply. Always remember, if it's not crossed out on the application you can be charged for it. It has been my experience that many sales people will leave blanks or not cross off numbers in the fee section. A business could be charged for those individual items. Make sure that your written agreement only indicates the fees that apply to you.

5) The standard agreement charges an annual fee. You will typically receive your first annual fee on your third billing cycle after you begin. Then, every 12 months from that month, you will receive another annual fee.

6) PCI fees typically apply. PCI fees are loosely described as fees related to security of your credit card transactions. Make sure you understand that you may have a monthly PCI fee and a yearly PCI fee. The yearly PCI fee typically shows up on your January February or March statement. It has been my experience that the annual PCI fee was not announced and added to your statement very discreetly. The annual PCI fee varies between $80 and $200. Most sales people will explain that this is a mandatory fee required by Visa or MasterCard. Remember, Visa and MasterCard are not charging you directly. In this case, volt payments is. It is at the discretion of the processor to charge these fees.

7) It has been well-documented that volt payments reserves the right to charge new or additional fees at any time. If you look at your terms and conditions on the contract it will save this. There are some rules requiring the announcement of new fees. Typically, you'll be given 60 to 90 days notice about any new fees. The notice will be provided within the pages of your monthly billing statements that are mailed to you.

8) Make sure you open your monthly statements that are mailed to you. Make sure that your statements are even getting mailed to you. Remember, your processing fees are automatically taken from your bank account before the bill arrives in the mail.

9) instead of being charged a qualified, maybe qualified, and nonqualified rate, you may be charged was typically considered "interchange plus pricing" or "cost-plus pricing". This is a bit more difficult to understand. Volt payments will charge you a rate, usually a % and a transaction fee, in addition to the cost that they pay to Visa or MasterCard for a transaction. What you need to be aware of is that many additional charges will apply. Similar to your cell phone bill where you have all the little taxes and charges that add up on the last page. It has been my experience that these additional charges are not on the quote sheets that are provided during the initial sale.

10) It has been my experience that the quote sheets that are provided to a business during the initial solicitation are lacking a majority of the actual fees that will be charged. When volt payments provide you with a quote sheet, make sure that you review it closely. Remember, the quote sheet is not the contract that will be signed.

11) You are entitled, and Volt Payments is required to provide you with the terms and conditions that apply. THESE ARE NOT THE SAME AS THE CONTRACT. The terms and conditions are a separate section of information that outline the exact details of your agreement. Typically, if you are provided an original contract with carbon copies, the carbon copies may include the terms and conditions. But if you are provided a faxed contract or an email version, be sure to request the terms and conditions before you sign anything.

12) DO YOUR RESEARCH. You may want to consider the fact that Volt Payments is owned and operated by the same individuals at Federated Payment Systems in Melville, NY.

Mark as Useful [8 votes]
  • Dec 10, 2014

Read this!!!

On July 07, 2014, the Better Business Bureau raised concerns about this firm’s advertisement on http://www.federatedpayments.com/ and requested that this firm substantiate their claims regarding the following:

1.We Guarantee we can beat your current processing rates or we'll pay you $500!

2. Credit and Debit card processing at the lowest rates guaranteed

3. Inc. Magazine 500/5000 ranked company

4. Top 50 Payment Processors in the U.S. (2 years in a row)

5. The fastest growing Payment Processor in the U.S. (Nilson Report)

. As of August 11, 2014, the business has not responded to BBB's requests for clarification or modification of the aforementioned issues.

Mark as Useful [5 votes]
  • Dec 17, 2014

New Frontier looks like another one of their companies

I was recruited by New Frontier, wanted me to go to Melville. I'm assuming same company? I didn't go to the interview, no way!

Mark as Useful [5 votes]
  • Dec 10, 2014

Stay far away from this company!

I worked there, what a nightmare. A group of real nasty people.

Mark as Useful [6 votes]
  • Dec 17, 2014

Looks like Volt's snap management team are writing reviews.

A merchant would not go to a scam.com site and write 'excellent' reviews. The Volt team continues to amaze, LOL!

Mark as Useful [5 votes]
  • Dec 16, 2014

I had to leave Volt because of their poor reputation

I was a salesman for Volt payments. I had to leave, it seemed every other business I called upon would not do business with Volt. As a business owner you do your due diligence before you do business with a company you have no familiarity with. Once they checked 'Volt Payments' online the deal was dead. No business wanted to have anything to do with Volt, they have a very poor reputation. Please do your homework before you think of working for this company. There are plenty of really good credit card processing companies out there, Volt just isn't one of them.

Mark as Useful [4 votes]
  • Dec 20, 2014

I left as well.

I was a manager, unable to hire anybody. Their reputation is seriously flawed.

Mark as Useful [2 votes]
  • Dec 10, 2014

From the BBB

On July 07, 2014, the Better Business Bureau raised concerns about this firm’s advertisement on http://www.federatedpayments.com/ and requested that this firm substantiate their claims regarding the following:

1.We Guarantee we can beat your current processing rates or we'll pay you $500!

2. Credit and Debit card processing at the lowest rates guaranteed

3. Inc. Magazine 500/5000 ranked company

4. Top 50 Payment Processors in the U.S. (2 years in a row)

5. The fastest growing Payment Processor in the U.S. (Nilson Report)

. As of August 11, 2014, the business has not responded to BBB's requests for clarification or modification of the aforementioned issues.

Mark as Useful [4 votes]
  • Oct 4, 2014

Federated Payments Volt payments only care about their bottom line. will use you and spit you out. when called on their practices they will slip and slide like the snake they are Melville New York

The bottom line is this company only cares about their bottom line even at their employees and customers detriment. If you are looking to do business with them do your research and if you're are looking to work for them know they will say and do anything to justify their amoral behavior. I promise you; they will only hold you to what you have done for them lately as an employee.. Make your money but always be ready for the floor to fall out.

Mark as Useful [4 votes]
  • Oct 4, 2014

Volt payments Voltpayments.com, nationaldebitcardnetwork.com, federatedpayments.com, federatedcanada.com, onepayus Volt Payments, www.voltpayments.com and National Debit Card Network, www.nationaldebitcardnetwork.com is a scam melville New York

ATTENTION – Volt Payments, www.voltpayments.com and National Debit Card Network, www.nationaldebitcardnetwork.com is a scam. These two companies are just a new façade for Federated Payment Systems, ran by Jon Levitt and Scott Avery. This is another pathetic attempt to hide from a disgusting reputation.

Federated Payments has 5 other company names on its doors. All in an attempt to defraud merchants and sales people. They will even go so low as to contact businesses who previously had accounts with Federated Payments and try to rekindle relationships under a different name. The tactic is simple: Federated Payments will close a merchant’s account. Either because the merchant gets fed-up with the lies or poor service, or Federated closes the account intentionally. They then charge a cancellation fee, and then pitch the very same merchant, but under a different name. Just look at the websites – all located at 2 Huntington Quad, 3rd Floor.

They do the same thing with sales people. They will send out mass emails to everyone who has ever worked for them, but under a different company name such as Volt Payments or National Debit Card Network and try to fool these sales people into selling for them again.

Voltpayments.com - nationaldebitcardnetwork.com – federatedpayments.com –federatedcanada.com – onepayusa.com – gotousbc.com – MSIcanada.net - U.S. Bankcard Center – OnePay – Federated Payment Systems – National Debit Card Network – Volt Payments – MSI Canada are all located at 2 Huntington Quad, 3rd Floor. Coincidence?

Mark as Useful [3 votes]
  • Nov 24, 2014

Good Rates Good Service

Been with Volt for 6 months now. Don't have any complaints. Good tech support, pleasant and knowledgeable sales rep. Happy customer

Mark as Useful [2 votes]
  • Oct 13, 2014

I LIKE THIS COMPANY!!

Been working here 7 months now. I really enjoy it! Learning a lot about the industry. Training is good, pay is decent, hours are a bit long but as long as I'm making money who cares. I would (and have) recommended to a friend.

Mark as Useful [2 votes]
  • Oct 9, 2014

HAPPY MERCHANT! GOOD COMPANY!

Had to write quick review because I've been using Volt Payments over a year now. Very happy with their service. Pricing is good, customer service answers my questions when I have. Equipment works well. Gift card program works good for my business (own a local coffee shop) What more could I ask for.

Mark as Useful [2 votes]
  • Dec 17, 2014

Hello Merchant, a question for you.

You just happened to see your credit card processor, Volt Payments on a SCAM.COM site and just wanted to leave a great review? If I saw my credit card processor on a scam review site and read the bad reviews I would be doing business with another processor. We all know it's the Volt management writing these fake reviews. Volt - you can't run from your horrible reputation, you just can't. I love how you are starting new companies as well. New Frontier? AWESOME, GREAT WORK, LOL.

Mark as Useful [3 votes]
  • Oct 3, 2014

Excellent Company To Work For !!

Worked as an independent rep for Volt for about 6 months. They pay me commissions daily, have a great sales support team if I have a question and I get lifetime residuals. What could be better for a sales guy???

Mark as Useful [2 votes]
  • Apr 21, 2016

Fake Review

That review is basically word for word from their job posting on indeed.com ....interesting

  • Mar 17, 2015

SELLING FOR VOLT OVER A YEAR - VERY HAPPY!!!

I don't understand negative reviews on this company and it makes me upset to read fake complaints. I made more in the past year selling for them than the last processor I worked for. I find them ethical, I get paid on time and have a great manager and sales support team who always picks up the phone when and if I need him. I explain all rates and fees to the merchant very transparent. Don't be fooled by reps who were fired writing bad reviews because they are bitter. This is a solid company to work for and do business with.

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