In the late 2000s, as a broke college student struggling to make ends meet, I was contacted by a merchant services company after uploading my resume to a job listings website. This company promised substantial commissions and ongoing residual income for simply persuading businesses to accept credit card payments. It seemed straightforward enough—after all, what business doesn’t need to process credit card payments? Following a phone interview with a persuasive “sales director,” I found myself embarking on what I believed would be an easy job that would significantly boost my bank account with reliable monthly income and large sales commissions. However, the lessons I learned would profoundly change my life in ways I could never have imagined.
After completing my sales training, I hit the ground running, eager to make sales. This broke college student was determined to improve his financial situation! My first attempt at a cold call, with no prior appointment, ended with a burly man in his 50s yelling at me to leave, claiming he had been “totally robbed” by someone like me before. As I hastily exited, puzzled and intimidated by his reaction, I couldn’t help but wonder what he meant. Throughout the day, I encountered similar hostility from other business owners, all expressing disdain for the industry I had been so excited to join that morning. Confused and curious, I decided to shift my approach from selling to listening.
I quickly uncovered that the merchant services sector was riddled with unethical practices, including hidden fees, deceptive marketing, fine-print traps, and much more. It dawned on me that I had nearly been tricked by a dubious company into selling overpriced services under contracts with long-term commitments, all without being fully aware of what I was promoting. Outraged, I resigned from that company but learned that there were indeed ethical credit card processing companies that treated their clients fairly. Over the next four years, I worked for one such company, assisting hundreds of businesses in securing cost-effective processing solutions. Yet, I also met many more who had been misled and trapped in onerous service agreements. Determined to help people steer clear of these unscrupulous providers, I launched this website in my spare time, dedicating myself to researching and sharing my findings on every merchant account provider I could investigate.
Gradually, more and more business owners began to discover my articles. As word spread, search engines started to rank my content highly, amplifying its reach. My efforts were making a difference! Eventually, the website garnered enough traffic to enable me to leave my job and focus on it full-time, a journey that has now spanned over a decade. This path has not been without its challenges; unscrupulous company owners have tried to intimidate and sue me into silence on several occasions. Yet, I have stood firm against each threat. Here I am, continuing to publish reviews and articles, hoping to safeguard others from the pitfalls of the credit card processing industry.
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Doug Jordan
This company is full of BS! I have yet to be under an average rate of 4% since signing up in 2019. I get the run around and excuses every time I call. If I wasn’t hooked into my Clover POS where you need to have this processor I would change. Haven’t been happy yet.
Ken Einiger
Sorry but we have looked you up and you are not a customer but a competitor. Please don’t try to harm an amazing company.
Ken Einiger
Owner
Phillip CPO
Hi Ken, can you supply evidence to support this claim?
Frank Salgado
Hello. I’m the Managing Partner here at Global 1. Thank you for your overall positive review. I’d like to clear up a few concerns that you’ve raised.
Concerning our rates, the rate now listed on our site is 0.25%, or 25 BP. This true interchange rate represents our standard rate for any businesses that own their own equipment, whether they purchase it from us or not. This rate applies to approximately 80% of the new accounts that we open.
Concerning our no termination fee, we operate on a month to month basis with no contract. The only exception from this is if we provide the merchant with a free terminal. In that instance we require a three year contract and a tiered rate of 1.65%, 2.49% and 2.9%. Those rates are guaranteed for the duration of the contract. We have an early termination fee of $495 if the merchant chooses to cancel our services and switch to a different provider. No termination fee is charged if the company goes out of business or is sold. All of these terms are spelled out in large writing on a separate page that the merchant signs.
Our monthly minimum is $25,
In addition to our low complaint rate we also enjoy a true 98% customer retention rate.
Again, thank you for your positive review. Hopefully this will help you to raise our score a little!