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Business ProfileforFirst American Payment Systems
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The following describes a government action that has been resolved by either a settlement or a decision by a court or administrative agency. If the matter is being appealed, it will be noted below.
On March 8, 2023, First American Payment Systems, LP, a limited partnership, also d/b/a Merimac Capital, Eliot Management Group, LLC, a limited liability company, also d/b/a Sundance Payment Solutions, and Think Point Financial, LLC, a limited liability company, also d/b/a Cypress Bay Solutions and Impulse Payments entered into a Second Amended Stipulated Order for Permanent Injunction, Monetary Judgment, and other relief with the Federal Trade Commission with the United States District Court Eastern District of Texas Sherman Division.
The Court found the Defendants participated in deceptive and unfair acts or practices in violation of the Federal Trade Commission Act and Section 4 of the Restore Online Shoppers’ Confidence Act by marketing, promoting and offering for sale of payment processing services to consumers throughout the United States.
It is ordered that the Defendants, Defendants’ officers, agents, employees and attorneys, and all other persons in active participation are permanently restrained and enjoined from misrepresenting or assisting the conditions for cancellation of goods or services provided, services can be canceled during an initial trial period with no penalty, can be canceled prior to the end of a written agreement term with no penalty or can be canceled at any time with no penalty. Cannot misrepresent the fees for the goods or services, such as monthly fees, the amount of savings using the good or service, or any other fact material to Merchants concerning the good or service including the total costs, any material restrictions, limitations, or conditions of its performance, efficacy, nature or central characteristics.
Furthermore, it is ordered making or assisting others making, representing the amount of savings realized from using their good or service, unless the representation is not misleading meaning at the time of such representation they must rely upon and possess reasonable basis for the representation.
Furthermore, it is ordered that the business is prohibited against unfair debiting practices, prohibited against misrepresentations related to negative options-requiring disclosures relating to negative option features, obtaining express informed consent for a negative option, providing a simple mechanism to cancel negative option features, and maintaining a compliance program by reporting submissions to the Commission and create records for 10 years after entry of the Order and retain records for 5 years.
First American Payment Systems, LP is ordered to pay the Commission $4,900,000 as monetary relief.
At-a-glance
Customer Complaints
25 complaints closed in last 3 years
6 complaints closed in last 12 months
Customer Reviews are not used in the calculation of BBB Rating
Related Categories
Business Details
This is a multi-location business.
- Headquarters
- 100 Throckmorton St Ste 1800, Fort Worth, TX 76102-2802
- BBB File Opened:
- 4/7/1997
- Years in Business:
- 31
- Business Started:
- 8/30/1992
- Alternate Business Name
- First American Payment Systems, L.P.
- Merimac Capital
- Secure-Chex
- Related Businesses
- Business Management
- Ms. Becky Lefan, Manager
- Mr. Brian Dorchester, Executive Vice President
- Contact Information
Principal
- Ms. Becky Lefan, Manager
- Additional Contact Information
Fax Numbers
- (817) 317-7249Primary Fax
Phone Numbers
- (817) 317-7300Other Phone
- (888) 453-4538Other Phone
- (817) 317-7249
Customer Complaints
25 Customer Complaints
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File a ComplaintMost Recent Customer Complaint
03/18/2024
- Complaint Type:
- Service or Repair Issues
- Status:
- Resolved
Customer Reviews
9 Customer Reviews
What do you think? Share your review.
Most Recent Customer Review
Andrew J
10/02/2023
First American Payment Systems Response
10/03/2023
We are in receipt of your review.
At the time of you signing up with us (see your Merchant Application Agreement), your account was submitted with a $4000.00 high ticket amount. This amount goes by your credit profile and means you may not process transactions over $4000.00. A $16,290.00 American Express transaction was entered 7/16/2021. This is way outside the terms of your agreement. On 7/21/2021 you advised us that you were not going to wait any longer for payment and that you would process a return to offset the sale. This sale is American Express, and we DO NOT have any control over American Express fee assessment and American Express DOES NOT refund discount rates when a return is executed. If we were to issue a refund to you for the discount rate fees, we would essentially be absorbing the fee costs on a $16,290.00 transaction. No where in our records is there a document stating any authorization was given for this transaction.
We did see that you were in talks with the *************** regarding the monies owed. You stated your account was closed in 2022. We are not showing where we received a closing letter from you. A closing letter must be received in order to close an account. There is also an early termination fee (see Terms & Condition). Since no closing letter was received, your account remained opened for processing and monthly fees incurred. A settlement offer of $295.00 was offered to you in July 2023, however, no payment was never received, and your account was placed with the credit bureau. Our offer still stands. Please contact the *************** to pay the offer amount of $295.00 as soon as possible, which in turn will change your credit information.
Sincerely,
Merchant Relations
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