Overview
In this review of Cornerstone Payment Systems, we will provide a detailed overview of the company's credit card processing services. We will cover the range of services they offer, including point-of-sale (POS) systems, mobile payment solutions, and e-commerce capabilities. The review will identify the types of businesses that might benefit from these services. Additionally, we will examine client and customer reviews to highlight common trends and potential concerns. The article will also address the company's pricing structure, contract terms, and specific features provided. By the end of this review, you will understand whether Cornerstone Payment Systems meets your payment processing needs.
About Cornerstone Payment Systems
Founded in 2001, Cornerstone Payment Systems is a merchant account provider that claims to put “Christ at the cornerstone of our business.” The company places an emphasis on its Christian affiliation and advertises that it does not process credit card transactions for businesses that it deems morally objectionable. According to this source, Cornerstone's definition of morally objectionable transactions may include sales of pornographic content or donations to Planned Parenthood. For this reason, businesses that may qualify as morally objectionable by Cornerstone's standards should not expect to be approved for merchant accounts through the company. The company appears to utilize TSYS, WorldPay, Paya, and First Data (now Fiserv) as its backend processors as well as NMI and Clover as POS solutions.
In 2020, Cornerstone Payment Systems acquired Move Your Mountain.
It must be noted that since 2020 Cornerstone Payment Systems has been accused of leaking the data of at least 9 million customers.
Acquisition of Crowd-Funding Platform
Cornerstone Payment Systems acquired the crowd-funding platform Move Your Mountain in January as of 2020. Move Your Mountain was founded in 2014 as a platform that shares the same values as Cornerstone Payment Systems. Unlike other crowdfunding platforms, Move Your Mountain does not impose deadlines on fundraising campaigns. Crowd-funding campaigns hosted by Move Your Mountain are also free of set-up charges, though a donation fee and processing fee are taken from each donation by the company and its backend process, WePay.
Cornerstorn Payment Systems Products and SErvices
Payment Processing
Cornerstone Payment Systems processes all major debit and credit cards. Their services include EMV card readers and swipers, virtual terminals, ACH processing, recurring billing, access to a payment gateway, custom payment pages, and donation services.
E-commerce Payment Gateway
Cornerstone offers an online payment gateway designed for secure e-commerce transactions. Compatible with major credit card brands and widely used shopping cart systems, this gateway enables merchants to accept payments on their online stores seamlessly.
Mobile and Virtual Terminal Transactions
Cornerstone provides mobile and virtual terminal transaction services, allowing businesses to accept card payments remotely or when the card is not physically present. These services are accessible via a mobile app or a virtual terminal with an internet connection.
Merchant Cash Advance Service
Cornerstone also offers a merchant cash advance service, enabling businesses to quickly access working capital. This service is based on the volume of a merchant's credit card transactions, providing funds to support operations or finance growth.
Jennifer
TERRIBLE, lying, thieving company! After trying to call and cancel and email and cancel for MONTHS, they are STILL CHARGING ME WITHOUT MY APPROVAL!!!
Bridget L Gilmore
I have not received my correct W2 form from them…. they didn’t give the correct account of my earnings…. I am now having issues with the IRS because their information does not match my check stubs. Protective Enterprises Public Safety was my Employer who also has stopped communicating with me to resolve the matter….The checks I received from my employer were hand written but Cornerstone sent the IRS a bogus W2 with wages I never received from them because I never had direct deposit set up…. I have proof they rejected my information because my employer never sent them any information on me… So why did they send a W2 for an employee that was never in their system…. I was told I wasn’t in their system and customer service is almost ALWAYS NOT available
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-Phillip
Brandon Moore
I know many non-profits who work with Cornerstone and they are happy.
They are trustworthy and really provide a great service. They are family owned company and give a truly first class service! I would highly recommend them to anyone who is looking for ways to collect donations on-line.
CPO
Hi Brandon,
Please reply to this comment with your business name and location in order to authenticate your testimonial. Thanks!
Brandy
This is the WORST company! If you try to cancel they will constantly transfer you then hang up on you. If you email you will never get a response. I sent a letter in to cancel and when I received a past due amount letter they stated that they never got the letter. I’ve never dealt with such a horrible and shady company, and to think they say they are a christian company. “Do unto others…”
Lisa Mallory
Do not use this company. They are not trustworthy. They are only an third party agent that charges you an annual fee for completing a compliance survey with your actual
Merchant service provider. Best to set up the merchant serve account directly with a reputable company like sage.