March 03, 2020
Score 8 out of 10
Vantiv is used primarily by Accounts Receivable to obtain incoming payment details and reporting. Some other departments, such as Financial Planning & Analysis, Accounts Payable, as well as our Financial Executive Committee, use Vantiv as well for some reporting. Vantiv allows us to view and download reports of all deposits across multiple accounts. Through Vantiv, we also view and reply to credit card disputes from customers. We can process credit card transactions through Vantiv as well.
- Vantiv's credit card processing terminal is very straightforward, easy to use, and fast.
- Vantiv's credit card dispute portal provides beneficial information regarding disputes and chargebacks. Even the customer number associated with the charge is provided, which cuts down on time needed to research conflicts.
- The Vantiv homepage/dashboard is structured in a very easy to navigate fashion.
- The website often crashes while downloading reports or switching between modules.
- The phone support is lacking - support is available 24/7, but it is difficult to find a rep that is knowledgeable and can provide the answers you are looking for.
- There are hidden fees that are not disclosed when opening the account.
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Vantiv is appropriate for a large company that operates with several bank accounts. The dashboard makes it very easy to toggle between separate bank accounts. Due to the fee structure and hidden fees assessed, I would not recommend this program to a small business as there are much more affordable options on the market.