Nova Information Systems
Written: May 01 '08
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Product Rating:
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Pros: Up-time and Reliability, 24 hour c/s, many services offered
Cons: They have restrictions on what they can do just like every other processor out there
The Bottom Line: Nova Information Systems is a reliable processor that offers security and stability.
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| knox37920's Full Review: NOVA Information Systems, Inc. |
I have been an employee of Nova Information Systems for the last 7+ years. Although at times I understand that some complaints are legitimate, all I can say is BE SURE TO READ YOUR CONTRACT THOROUGHLY. Most processors out there will give you a good "qualified rate"; however if you read the fine print you will notice there are additional rate surcharges or hidden authorization fees that normally are not openly disclosed in a pricing proposal. Nova is honest in the fact that all fees are disclosed at the time of signing (Nova informs of rates for all qualification levels/per item fees, surcharges, and monthly fees). The only exception would be rate increases imposed by Visa and MasterCard. As most business owners should know, Visa and MasterCard evaluate interchange in April and October of each year. At that time they normally opt to increase interchange fees at one level or another. If an increase is indeed imposed, by contractual obligation Nova notifies each and every merchant via statement message, and occasionally direct mail, 30 days prior to the increase. Unfortunately if there was an address change that Nova was not made aware of then the notification would not reach the intended person, however with one million merchant to cater to, they cannot be expected to track down every single instance where mail has been returned (however they do note it on the account in case the business owner calls in). I understand that the industry is very confusing to most people so I ask you to please read any statement messages, mailings, emails, newsletters, etc that you receive. Nova is sympathetic to the fact that interchange fees can cut into what might sometimes be a very small profit margin, so at any time a business owner processing with Nova does have the option to call in for a review of their account to see if the rates/fees can be lowered. I have been in this industry for quite some time and have to tell you that I have heard many horror stories about competitors. I have seen and compared statements, proposals, and contractual agreements from other processors, and to be completely honest I am appalled by the manner in which the fees are disclosed to the merchant (or in most cases, not even openly disclosed). I have spoken to many business owners that have left Nova and then come back due to discontent with the processor they had originally left for. It comes down to the fact that although they would like to, and however hard they try, Nova cannot please every one all the time - it's just not feasible when you are in the financial industry.
Recommended:
Yes
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Epinions.com ID:
knox37920
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Reviews written: 1
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