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Cit Financial (Lease Finance Group) / Hypercom S 8 Pin-pad / leasing credit card processing equip

1 233 N. Michigan Ave.,Suite1800Chicago, IL, United States Review updated:
Contact information:
Phone: 312-9805600

The representative of a credit card processing co. (iso) enters my business and wants to see statements from the competition (whoever I am with now)... and proceeds to tell me my % rates are too high and he is all about saving me money. I should mention, we already own our terminal and printer. then he notices we have no pin-pad for debit card transactions; and I tell him we have very little debit card usage. he says it would save money and insists we use one, or we are being foolish; he has one in the trunck of his car and brings it in. what he does not point out is the pin-pad is a lease (with lfg) for 48 mos. at $30.00 per mo. you think you are buying it at the time and he places the papers for signing in such a way that you don't realize you are signing a non-cancellable lease. who would knowingly lease a cheap piece of plastic rather than buy it out-right. the reason the lease is non-cancellable is they know that's exactly what you will do when you become aware of it. when you question what you have leased and find out it's a cheap pin-pad, you want out; but lfg representatives are abrupt and tell you to contact the iso salesperson; it's not up to them. then the run-around begins; the salesman is in the hospital, then he's on vacation, and other employees from merchant lynx services promise to look into it, but never call back... it goes on until you are worn out and the money is automatically deducted from your bank account, since the I so has all your account info. if you change accounts or banks the lease co. comes at you with a vengeance, resorting to threatening letters, phone calls to your home and business at all times of day and night, lawyers, and finally adversely affecting your personal credit report. they deducted over $700.00 before I changed banks, returned the pin-pad, and stopped them from picking my pocket further. I believe there is collusion between these two companies and the monetary gain to the lease co. is partially kicked back to the iso for obtaining the lease agreement! merchant lynx services has an unsatisfactory rating with the bbb and lease finance group is unrated. next, they'll be leasing paper-clips for $3.00 a month.

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  • Ya
      14th of May, 2010
    0 Votes

    FYI: Dont sign lease agreements...i had one 7 year ago and wasted $$. I went with EXS Credit Card Processing ( www. EXSCreditCardProcessing. com ) because they did not screw me with high processing and monthly fees. They also placed me in a free credit card terminal (no lease payments) to minimize my upfront costs when i opened my new restaurant. I highly recommend EXS if you dont want hassles or unexpected high expenses with other providers...

  • Co
      14th of Jun, 2010
    0 Votes

    RE: EXS Credit Card Processing posts by Yani92625: Being that you have posted the same comment on a LOT of complaints against other companies, I must agree with one of the other posters. It does appear you are simply promoting/advertising them...

  • Ya
      14th of Jun, 2010
    0 Votes

    Of course i am...this is a complaints board! I am simply recommending this company because i was referred to them by a friend, i use them because they have treated me right and thought it might help others who had problems with their existing merchant account...oh well...

  • Al
      23rd of Aug, 2010
    0 Votes

    The SAME EXACT thing happened to me with my business...except the merchant company's name is PFC Payment Solutions and the name of the lease companyFirst Data Global Leasing. By the time my 48 mo lease is up I will have paid $960 for a pin pad (which will be outdated and worth $0)..I am getting totally the end of the lease I am getting out and finding a new company. I would appreciate any suggestions anyone may have.

  • Un
      19th of Nov, 2010
    0 Votes

    Fortunately, I came to PFC Payment Solutions forewarned, to some degree, so I did not sign a terminal lease agreement and had their 3-year early termination fee waived. However, I did sign with their service, expecting lower monthly fees. So far, big mistake. Their salesman, one Joshua Jensen, promised that payment would be deposited in my checking account within 12 hours if charges were batched out by 10 pm. That didn't happen. Their "relationship manager" then promised it would happen if batched by 3:50 pm. That didn't happen. This is a rinky-dink operation, with a handful of employees who exist to not make things happen. The salesman's email address on his business card turned out to be non-functional. They claim to be first-tier processors but in fact process through First Data Global Gateway. Don't trust this company.

  • St
      20th of Jun, 2011
    0 Votes

    If anyone wants to join my class action against pfc payment please email me at Best A Filing soon

  • Dd
      20th of Aug, 2012
    0 Votes

    Same as Big Mack but with First Data and First Data Global Leasing. I cancelled bank account, returned equipment, etc but they are still trying to get money from me. Won't produce a signed lease for the POS which I know I didn't sign because the salesman didn't come out when they sent all that in the mail (the equipment). I do have a signed lease with the little card machine that was in the front office and used about 6 times in a year but that was also done like the previous person said. No mention about non-cancellable, salesperson engages you in conversation as you are signing and he is pointing out other items like your processing rates, etc. and then you can never get a return call from him again. Why in God's name would I sign a 4 year agreement when I am a new business with no intention of staying where I am at for more than the 2 year buidling lease and you can't move the equipment? I am now out of business and they got their overpriced POS back in like new condition since it was only used for about 2 to 10 transactions a month and we were only open about 10 to 15 hours a week. The sales people are professional thiefs as far as I am concerned and First Data and First Data Global Leasing are scam artists and I can not belive that Sam's club even allows their name to be associated with the companies.

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