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For Vantiv’s size and time in business, the company appears to be performing at an average level in terms of overall merchant satisfaction.The factors that lower the company’s rating are extensive use of sub-ISOs, resellers, and subsidiaries (a tactic which makes measurement of merchant satisfaction difficult to quantify), reports of poor customer service, and reports of nondisclosure of the early termination fee prior to setting up accounts.Seventy-five complaints have been resolved to the merchants’ satisfaction, while 185 either were resolved to the merchants’ dissatisfaction or did not receive a final response from the merchant. We have adjusted the company’s rating to a “C” for the purposes of this review due to Vantiv’s sharp uptick in BBB complaints.Our rating will be adjusted further if Vantiv continues to accumulate complaints at such a rapid rate.Although Vantiv does not appear to use any deceptive rate advertising or quoting tactics, its grade is negatively affected by the use of sub-ISOs, independent resellers, and subsidiaries.These marketing channels make it difficult for the company to control the sales tactics used to sell its services, and it also spreads merchant complaints across several different company names instead of concentrating them on one source.Any and all use of trade names and/or marks are for identification purposes only and shall not be construed as a claim of affiliation, or otherwise, with Card Payment Options.com, Inc. The sole purpose of the material presented herein is to alert, educate, and inform readers. The following information will assist you in making your reservation and provide valuable information about your stay.
The company is one of the largest payment processors in the United States and is publicly traded on the New York Stock Exchange under “VNTV.” Vantiv entered the merchant services industry in 1991 under the name of Midwest Payment Systems, then changed its name to Fifth Third Processing Solutions in 2003, and then again changed its name in 2011 to Vantiv.
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It should also be noted that some of Vantiv’s sub-ISOs and subsidiaries have received a substantial amount of complaints.
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As of this review, the Better Business Bureau is reporting that Vantiv is not accredited and is awarding the company an “B-” rating.