Crescent Processing – The Top 5 Myths

1: Crescent Processing Company’s reputation with the Better Business Bureau is poor

The Better Business Bureau (BBB) rates businesses on their reputation but for businesses not accredited with the BBB – such as Crescent Processing Company – an automatic lower rating is always given. This can have an adverse effect on the apparent reputation of a company. Crescent Processing Company can boast of 65,000 merchants with which it has done business in the US since 2006. This compares to the 294 complaints on the BBB site. A quick calculation will show that this amounts to less than 1% of the total customer base that Crescent is party to. Crescent is also working to resolve the complaints – and has successfully done so with many – and meanwhile the BBB is under investigation in several states for unfair practices with regard to the misleading ratings.

2: Crescent intentionally holds merchants funds

Crescent Processing Company will not hold funds without offering a legitimate reason. The holding of funds is primarily carried out when investigating potential fraud. This is common practice among processing companies. If a merchant is found to be running transactions that are considerably higher than normal it is standard practice for the transaction to be flagged.  A processing company such as Crescent will enter into an investigation with regard to such suspicious transactions in order to ensure that it is legitimate. The merchant may be asked to provide proof of the transaction and cardholders may also be contacted for further information. This can take time, yet it is a standard procedure carried out by all processing companies.

3: I didn’t get a copy of the application – Crescent Processing Company is a scam!

The processing industry uses Independent Sales Agents who sign up merchants. They use paper applications to do so. The ISA will be paid on a volume basis, and this gives them an incentive to change rates or fees after they have left the merchant’s premises.  Crescent was well aware of this potential problem at the outset, and therefore ensures that all ISA’s are issued with a laptop on which to process the merchants’ application. The system used ensures that once the rates and fees have been entered on the system they cannot be altered. This is a security measure instigated on Crescent’s initiative that is designed to protect the consumer. Merchants are required to confirm all agreed rates and fees by telephone, and if there are any discrepancies the application cannot be confirmed. The encrypted information is only finalised once everything tallies, and the Crescent system is a foolproof and secure method of guarding against fraud.

4: ISA’s are charged for Crescent’s laptops

While Crescent does charge the ISA for the laptop it is a deposit of $300, taken out in increments of $25 to make it easier. This deposit is refunded in full if the two parties stop working together. In the event that an ISA does not return the laptop to Crescent, they will be charged for the laptop. Crescent allows a period of two weeks for the laptop to be returned following the partnership ending, although there may be leeway in this if the ISA communicates a delay in returning the laptop. If they have been charged and subsequently return the laptop they will be refunded.

5: There is no ‘free’ equipment from Crescent

Crescent provides all merchants with credit card processing equipment, PIN debit, check service and receipt capture equipment, all free of charge. As long as they remain a customer there is no lease charge for the equipment. A merchant may be charged for equipment that they have been given and do not return in the event they terminate the agreement with Crescent.