Velocity Merchant Services offers retailer services including MasterCard, Visa, American Express and Discover credit and debit card processing. They also offer gift and loyalty cards, electronic benefit transfer, check guarantees, fast cash advance, web development and other merchant services. Velocity Merchant Services was founded in 1998 by the president of the company, Dema Baraket, and is currently headquartered at 3051 Oak Grove Rd., Downers Grove, Illinois. They are registered as an independent sales organization (ISO) and member service provider (MSP) with HSBC Bank.
According to the Better Business Bureau (BBB), Velocity Merchant Services is not a BBB accredited business and the BBB have received no complaints against them. Other consumer protection services, however, have received over ten complaints against Velocity. The complaints range from reports about untrained employees to reports of deceptive business practices. Consumers have complained that the company’s contracts are unfair, their processing rates are high and that their equipment charges are excessive. At the time of this review, Velocity Merchant Services has not denied any of the information contained in this review.