Global Payments, Inc. Review

While Global Payments, Inc may be a global leader in payment processing equipment and services, there was recently a large security breach which exposed nearly 1.5 million credit card numbers after a hacker tapped into their system. As a result, the company was removed from Visa’s list of PCI compliant processors, at least temporarily.

Company Background: Global Payments, Inc provides global services for merchant payment processing. Headquartered in Atlanta, GA, the company has been in business since the 1960s and growing to global markets. The company currently services businesses, consumers, organizations, financial institutions, and government agencies in their payment processing needs. Forbes.com rated Global Payments as one of their Platinum 400 Best Big Companies in 2009. Global Payments, Inc is traded on the New York Stock Exchange (NYSE: GPN).

Rates: Product and service rates not provided on the company’s website but will vary based on the various factors influencing the merchant and the business. These factors include the type of business as well as the processing volume of transactions and terms of contracts. Pricing and contract terms for resellers should be negotiated before committing to the conditions.

Security Features and Account Services Provided:  Global Payments, Inc offers a variety of services including payment processing, check processing, money transfers, point-of-sale equipment services, gaming products and services, non-profit organization fundraising solutions, and reporting tools for online data retrieval and management. Their Global Transport ® product line features easy-to-integrate software solutions which support various programming languages offering turn-key transaction solutions.

Accepted Forms of Payment and Other Services: Global Payments provides processing capabilities for all major credit cards, debit cards, and purchasing cards. They also offer services for electronic check payments including Check Guarantee, Verification, and Recovery services. Global Payments also offers payment solutions for gift cards and store loyalty cards as well as electronic benefits transfer processing.

Bottom Line: 

Overall, Global Payments, Inc is recognized as a leader in the industry and is one of the biggest processors of Visa and MasterCard credit card transactions. The company also does a good amount of processing for American Express and Discover Financial. They provide essentially every payment processing service a merchant would need including ongoing services and support and the equipment necessary for the transactions.

The company website does offer a lot of information on their website about their global services and solutions for a variety of industries including retail, restaurant, automotive, hospitality,e-commerce, education, government, and healthcare.

BBB Rating:  Global Payments scored an A+ rating but lists 18 complaints at the time of this review. The majority of complaints issued concerned service problems and issues with billing and collection.

Posted on Tuesday, May 1st, 2012