Friday, 22 July 2011

Is Crescent Processing Company Running a Scam?

The purpose of this article is to answer some of the allegations which have appeared online regarding the operations of Crescent Processing Company.  The misperceptions can be grouped into two categories: those from a merchant’s perspective and those from a rep’s perspective.

Merchant Related Myths

Crescent Processing  Company has Hidden Rates and Fees.

We have been accused of claiming to provide an attractive set of fees and rates but actually charging more once a merchant has signed up.  In terms of the law we are obliged to disclose all rates and fees to any merchant who signs up with us.  If we do not do this we lay ourselves open to prosecution.  We have never been prosecuted for any contravention of these laws.  To cover ourselves and any merchant contracting with us, we arrange a recorded call from a third party in which all the rates agreed upon in the agreement are confirmed with the merchant before the contract can be concluded.  If the merchant is unhappy with something or disagrees with a rate, the rep needs to sort this out before the contract can be finalized.  Our representatives are required to leave a copy of our terms and conditions with every merchant they sign up and this document clearly specifies our rates and charges.  To accuse us of running a rates scam is totally unjustified.

Crescent Processing Company Claims to Provide Free Equipment but Actually Charges for it

Our approach is that we will invest in a client’s business to the amount of the cost of the hardware we provide.  This includes the card processing terminal, check reader, pin and signature capture pads.  Our objective is to use this cost saving approach to give our customers the edge over their larger rivals.  We see ourselves as long term partners in the business of our merchants and understand that their success translates into our success.  We see this aspect of our business as a driver for success and in no way would we contemplate any sort of scam and jeopardize this.   

Crescent Processing Company Lures you into Lengthy Contracts with Expensive Cancellation Fees

The terms and conditions across the industry are fairly standard and our early cancellation fees are no more than those of other providers in the industry.  We make many concessions based on length of service etc if a merchant terminates prematurely and we also waive charges if the merchant’s business fails.  We accept service agreements from 24 to 48 months so any claim that we insist on long contracts is simply untrue.

Rep Related Myths

The Leads of Crescent Processing Company are not Qualified

Crescent Processing Company takes every measure to ensure that its Independent Sales Agents (ISA’s) are kept in the best position to succeed at selling our services.  All of our appointments are pre-booked, and the outcome of each visit is recorded for the benefit of the rep and the merchant.  We never advertise our appointments as “pre-sold”.  A complete description of how our appointments work is disclosed to our ISAs during the recruiting process and signed in every ISA Agreement.

Crescent Processing Company’s Commissions Differ from what was Promised

The Crescent Processing Company ensures that all details of its commission structure are fully explained to every new ISA and agreed upon before any contract of employment is signed.  All new reps sign a separate document which details exactly how their commission will be calculated.  They are free at any time to discuss any commission related queries with their assigned sales manager.  It is incumbent upon any new employee to familiarize themselves with the terms of their service before they take up the position and this applies to equally ISA’s in our industry.  

Hopefully the above points provide some clarity and show that these myths are unfounded and untrue.