Entrepreneurship & Small Business

Costco - Elavon Merchant Services / POS Services

  • Last Updated:
  • Aug 24th, 2014 11:43 am
[OP]
Newbie
Mar 14, 2010
71 posts
49 upvotes
Montreal

Costco - Elavon Merchant Services / POS Services

Does anyone here have experience using Costco/Elavon for their POS Merchant Services?

From looking at the raw numbers they seem to be the best, especially considering they don't have a cancellation fee associated with their service.

However, things that look too good to be true, frequently are.

I'm curious as to whether anyone here has tried them and what their experiences are like.

Cheers!
34 replies
Deal Addict
Oct 29, 2010
4248 posts
611 upvotes
Been with them for about 4 years now. No problems what so ever.
I don't recall they don't have a cancellation fee but pretty sure it's a reasonable one.
[OP]
Newbie
Mar 14, 2010
71 posts
49 upvotes
Montreal
flafson wrote:
Jul 28th, 2014 7:26 pm
Been with them for about 4 years now. No problems what so ever.
I don't recall they don't have a cancellation fee but pretty sure it's a reasonable one.
The rep said that apparently you could rent a machine for $19 a month, without there being a cancellation fee. So theoretically you could just rent it for a few months and return it. Something seems very wrong with that number, as it would make Costo/Elavon leagues and leagues above the other providers.
Sr. Member
Jul 10, 2005
754 posts
121 upvotes
Toronto
changetomorrowtoday wrote:
Jul 28th, 2014 8:58 pm
Something seems very wrong with that number, as it would make Costo/Elavon leagues and leagues above the other providers.
It doesn't take much effort to be leagues above Moneris...
Newbie
Sep 11, 2012
19 posts
2 upvotes
MAPLE
If you are looking for a POS solution without a cancellation fee, you should look at SQUARE. The only down fall are their high Effective Discount Rate.
There are plenty of cost effective payment processing companies out there, just got to do the research and time to talk to them.

To determine the Effective Discount Rate, there are several variables:
1) type of transaction(card present or non present)
2) types of cards your customers are using (Visa Infinite, Standard, Premium, etc...)
3) Which currency is the customer paying with and which currency you want to settle in.

I thought Paypal, Elavon and Costco rates were pretty reasonable/affordable until I did any research. There are other trustable payment processing companies that serves Canadian businesses.
Deal Addict
User avatar
Apr 19, 2002
2196 posts
413 upvotes
I've been happy with Costco Elavon. I did have some issues with a defective pin handheld reader which they made me pay for shipping to have it replaced. Fortunately they replaced it with a new unit that has been working great so far. It also happened after about 4 years of use with the older unit, and they ended up reviewing my account and took off the monthly rental (or lease?) charge as they said I basically finished paying for the unit over the years. It used to be about $25 I think to rent? I can't remember exactly.

Does anyone else get these annoying merchant services salesmen walking in to try to switch you over to their payment processor? I have a sign saying NO SOLICITING, but I guess they cannot read plain English. I also keep getting calls as well. Today someone from "Incus" was calling to advise me of some sort of rate reduction, and they said they were not a payment processor but were obliged to inform customers about any time there is a rate reduction. I'm like what? I don't know what the heck that was about.
My avatar is Shandi Finnessey
Play Hay Day!
Newbie
Oct 25, 2014
24 posts
4 upvotes
Kemptville, ON
HunkaHunkaBurningLove wrote:
Jul 31st, 2014 12:37 am
I've been happy with Costco Elavon. I did have some issues with a defective pin handheld reader which they made me pay for shipping to have it replaced. Fortunately they replaced it with a new unit that has been working great so far. It also happened after about 4 years of use with the older unit, and they ended up reviewing my account and took off the monthly rental (or lease?) charge as they said I basically finished paying for the unit over the years. It used to be about $25 I think to rent? I can't remember exactly.

Does anyone else get these annoying merchant services salesmen walking in to try to switch you over to their payment processor? I have a sign saying NO SOLICITING, but I guess they cannot read plain English. I also keep getting calls as well. Today someone from "Incus" was calling to advise me of some sort of rate reduction, and they said they were not a payment processor but were obliged to inform customers about any time there is a rate reduction. I'm like what? I don't know what the heck that was about.
I used to get people all the time coming trying to sell me items in a retail store! The worst is around Christmas when people come trying to tell perfume and gift boxes. I always politely tell them no, and I understand they are just trying to make a living too, but it is rather annoying.
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Deal Addict
May 26, 2011
1801 posts
469 upvotes
Vancouver
HunkaHunkaBurningLove wrote:
Jul 31st, 2014 12:37 am
Today someone from "Incus" was calling to advise me of some sort of rate reduction, and they said they were not a payment processor but were obliged to inform customers about any time there is a rate reduction.
I've had that several times, always wondered what the scam was. Anyone?
Sr. Member
Jul 10, 2005
754 posts
121 upvotes
Toronto
HunkaHunkaBurningLove wrote:
Jul 31st, 2014 12:37 am
and they said they were not a payment processor but were obliged to inform customers about any time there is a rate reduction. I'm like what? I don't know what the heck that was about.
"obligated to inform customers" is just a scammy way to say "I want you to listen to me". Nothing else.
Newbie
Sep 11, 2012
19 posts
2 upvotes
MAPLE
He is Obliged to because he gets paid for working for that specific payment processor.
Sometimes how you treat people in general is what comes around goes around.
Member
Apr 6, 2010
493 posts
54 upvotes
Toronto
HunkaHunkaBurningLove wrote:
Jul 31st, 2014 12:37 am
Does anyone else get these annoying merchant services salesmen walking in to try to switch you over to their payment processor? I have a sign saying NO SOLICITING, but I guess they cannot read plain English. I also keep getting calls as well. Today someone from "Incus" was calling to advise me of some sort of rate reduction, and they said they were not a payment processor but were obliged to inform customers about any time there is a rate reduction. I'm like what? I don't know what the heck that was about.
The company is called Incas and they are a payment processor. Not sure if they sell for Elavon or not, but in any case they cannot tell anyone about a rate reduction unless they know the merchant rates. It's just a underhanded way of getting your attention.
Cristian.
Deal Addict
User avatar
Apr 19, 2002
2196 posts
413 upvotes
Yeah that's what I thought. I actually asked them if they are a payment processor, but the person said no. I never thought these payment processor sales people would be as bad as the Direct Energy door to door reps that you sometimes see making the rounds. I've had to train my staff into directing these idiots out the door. Some even lie saying that they have had previous dealings with me in order to get my receptionist to let them talk with me. I'm like no thanks, see ya later, stop wasting my time.

Whenever you get someone calling and there's a pause after you say hello, hello, and they pick up, you can tell they are using some automated dialing system that rings their line to pick up the fish they're trying to hook.

I think I need to get a larger sign saying "Merchant Processor resellers, Direct Energy, and Shaw Cable salesmen not welcome and will be shot on sight."
My avatar is Shandi Finnessey
Play Hay Day!
Member
Apr 6, 2010
493 posts
54 upvotes
Toronto
Hey, some of these door to door reps are not bad - myself included... :-D
Sr. Member
Jul 10, 2005
754 posts
121 upvotes
Toronto
Cristian_01 wrote:
Aug 4th, 2014 9:52 pm
Hey, some of these door to door reps are not bad - myself included... :-D
When I'm working in my shop I'm in "selling" mode. Concentrating on customers, current (processing orders) and new (sales). On my primetime I don't lose sight of customers by going into maintenance and expenses.
I do pay lots of attention to expenses, and how to save in business costs, but only on my downtime.

If you come to offer me deals when I'm focused in closing my own deals, you'll be considered an interruption and treated accordingly.

Best way to offer me something: put it in an email. That way I can look it up when I really have the mind for it.

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