Over recent months some myths have come about regarding the Crescent Processing Company and we would like to set the record straight regarding each of these matters.

Myth 1: Crescent Processing Company has been Given a low Rating by the Better Business Bureau

We have not subscribed to the services of the Better Business Bureau and so we are automatically given a lower rating since they do not have all of our details.  They have accumulated 294 complaints against us on their site but please recognize that Crescent Processing Company has transacted with over 65,000 merchants since 2006.  As a percentage of our total transactions 294 is less than 1%.  We would add that most of these complaints have been resolved and those still outstanding are being attended to.

We would also like to mention that the Better Business Bureau is currently under investigation in several states for misleading and unfair business practices so please view the information they publish with caution.   

Myth 2: Client Funds Are Intentionally Held Back by Crescent Processing Company

We never hold any merchant funds without good cause.  If an irregular transaction is flagged we will hold the funds back while this is investigated.  As soon as the matter is resolved we release the funds.  Every good processing company does exactly the same thing to ensure that their interests and those of the merchant are protected.  If the average transaction size of a particular merchant is $200 for instance, and a key entered transaction of $8000 is run, this transaction would be flagged.  Such a transaction would have to be investigated before the funds are released to protect all concerned including the shopper.  A purchase of $80 may have been incorrectly keyed in and signed for by an inattentive shopper.  This flagging and follow up provides an essential control mechanism enabling us to correct the mistake.  The process can take some time because the merchant needs to supply “proof of transaction” and the shopper needs to be contacted to verify the details and amounts.  The time all this takes depends on the speed at which the merchant and shopper respond.  As soon as the matter is resolved however, the funds are released immediately.   

Myth 3: Crescent Processing Company is a Scam Operation Because it Provides no Hard Copy of the Application Documentation

In our industry, Independent Sales Agents (ISA’s) are employed to sign merchants up to the various service providers and the signing up procedure is invariably done on paper.  Our problem with this process is that rates and fees are often inserted after a contract has been signed.  Further, pieces of paper can go missing if the ISA is not organized.  To avoid all of these things, our system is electronic with built in safeguards to ensure that what was agreed upon and finalized, is captured and cannot be changed once the merchant’s signature is electronically inserted. 

Each of our ISA’s is given a laptop and the proprietary software ensures that all essential fields are filled before the contract can be concluded.  Once the merchant’s signature has been captured, no changes can be made.

If rates or fees are changed after this point, the system erases the signature invalidating the contract.  In addition to all of this, once a contract has been concluded the ISA is required to phone the details of the contract in to an independent confirmation site.  The merchant is then required to phone the same site where he will be asked to confirm all the details of the contract supplied by the ISA.  If there is any discrepancy between what the ISA provided and what the merchant confirms, the contract is not accepted and the parties are asked to resolve and correct the differences.  Only when this process is properly concluded can the ISA upload the contract to the Crescent server.  All merchant details are encrypted so the data is secure.

Details of the contract can be requested at any time from Crescent by the merchant.        

Myth 4: Crescent Processing Company Charges its ISA’s for the Laptops They Require to Fulfill Their Function. 

Crescent Processing Company provides each of its ISA’s with a Dell laptop with the requisite software.  Every ISA is asked to furnish a deposit of $300 for the laptop and this deposit is paid in increments of $25 from each of their first 12 sales.  If the ISA leaves the employ of the company and returns the laptop, the deposit is refunded in full.  Crescent allows 3 weeks for the return of such a laptop but is flexible on this timing.  The company will even pay for shipping of the returned laptop if the ISA is a long distance from head office.  If an ISA has been charged for the laptop and they return it months later, they immediately receive a full refund.

Myth 5: Crescent’s Claim to Provide Equipment Free of Charge to Merchants is a Lie.

Crescent Processing Company is almost unique in the industry in that it provides free equipment to merchants for the life of the relationship.  If a merchant terminates the relationship, he is asked to return the equipment.  If the merchant retains any equipment then he is billed for what he has not returned.   This is reasonable and fair.  Most of our competitors lease or sell the equipment to their clients but we do not.  We fund the card processing terminal, check reader, pin and signature capture pads, receipt capture equipment etc.  In a case where a merchant has been charged and the equipment is then subsequently returned, a refund is immediately issued to that merchant.  The delivery of the equipment back from the merchant is paid for by Crescent.

We trust that the above points give some clarity to these matters and prove that the myths are untrue and unfounded.