Sam’s Club Merchant Services Review

Merchant Maverick's Rating: (3.5 out of 5)

Last Updated: October 30th, 2011.

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Overview:
Similar to Costco's credit card processing, Sam's Club also offers merchant account services to its members. And much like Costco, Sam's Club resells the services of another credit card processor, which in this case is First Data.

I'm not going to write a traditional review for Sam's Club's credit card processing, because I've already written one for First Data. And since a merchant account with Sam's Club means that you'll be signing up with First Data, then everything that applies to the First Data review, pretty much applies to Sam's Club.

Now that we've established that Sam's Club is just a reseller of First Data's services, what would be the benefit of going through Sam's Club? Well, on the surface it seems that Sam's Club members get "discounted rates" on their merchant accounts. But the truth is, that a merchant account through Sam's Club isn't as cost-effective as you might think.

There have been quite a few articles that have been written (here, here and here) which show that buying credit card processing services through membership warehouses like Costco and Sam's Club aren't exactly the "discounted" solutions that they claim to be. If you read those articles, you'll learn that although Sam's Club does a wonderful job of offering low prices on everyday goods, they aren't doing the same when it comes to merchant accounts.

With that said, I think you'll have a much better shot at saving money if you use a reputable comparison shopping engine like FeeFighters or CardFellow instead of Sam's Club.

In conclusion, I gave Sam's Club a lower score than First Data because I don't think that Sam's Club should be in the business of reselling credit card processing services. By doing so, they're just adding a layer between the merchant (You) and the processor (First Data), and that layer isn't really offering anything special, except for a little confusion.

Although offering merchant services is a great way for Sam's Club to make some extra money, there's isn't much of a benefit in it for you. If you already know what rate structure to ask for (interchange-plus), and what rates are fair, then you might as well go directly to First Data, OR go with another provider who's main business is credit card processing. Anybody that understands merchant account pricing, and is willing to negotiate will have a better chance of getting a superior deal than what Sam's Club is offering through First Data.

Stick with the wholesale goods Sam's Club. That's what we love you for.

Costco Merchant Services Review

Merchant Maverick's Rating: (3.5 out of 5)

Last Updated: October 29th, 2011.

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Overview:
Instead of using my traditional rating format for this review, I'm just going to give you a quick overview of Costco's merchant services. Mainly because of the fact that if you're getting a merchant account through Costco, then you're essentially getting a merchant account through Elavon (NOVA), and I've already written a full review for Elavon.

Costco is just a reseller of Elavon's services, so the only benefit that you'll get by going through Costco are the so-called "discounted prices" that Costco offers its premium members. But the truth is, that a merchant account through Costco isn't as cost-effective as it seems.

I won't get into the details of why Costco's "discounted prices" aren't really discounted at all, because that's already been covered here, here and here. The bottom line is that although Costco does a wonderful job of offering low prices on poultry and Playstations, they aren't doing the same with merchant accounts.

You'll have a better shot at saving money if you use a reputable comparison shopping engine like FeeFighters or CardFellow instead of Costco.

In conclusion, I gave Costco a lower score than Elavon because I don't think that Costco should be in the business of reselling credit card processing services. By doing so, they're just adding a layer between the merchant and the processor (Elavon), and that layer isn't really offering anything special, except for a little confusion. I've dealt with plenty of people that don't even realize that Costco isn't actually in the business of offering credit card processing services. Most of the time, those merchants have no idea that it's Elavon who's handling their account. Again...confusion.

If you know what rate structure to ask for (interchange-plus), and what rates are fair, then you might as well go directly to Elavon, OR go with another provider who's main business is credit card processing. Anybody that understands merchant account pricing will have a much better chance of getting a superior deal than what Costco is offering through Elavon.

Stick with the wholesale goods Costco. That's what we love you for.

TSYS Merchant Solutions Review

Merchant Maverick's Rating: (4 out of 5)

Last Updated: October 1st, 2011.

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Overview:
Total System Services, Inc. (commonly referred to as TSYS) is another one of those huge credit card processing companies. They operate many offices across the U.S. and have hundreds of thousands of merchant's that are using their services.

I'm going to focus this review solely on TSYS' direct sales channel called, TSYS Merchant Solutions (www.tsysmerchantsolutions.com). TSYS Merchant Solutions is where you would go as a business owner if you wanted to get a merchant account directly through TSYS.

As you may know, there are MANY resellers (called ISOs/Agents) of TSYS that either contract TSYS for their processing platform, or act as referral partners for all of TSYS' services. Some of those resellers are going to be ethical, and others are not. My advice would be to just go direct with TSYS Merchant Solutions. They have their own in-house sales team, and they can sign you up directly. No need to go through a middle-man, unless that middle-man is going to offer you something above and beyond what TSYS Merchant Solutions can give you. Superior customer support or training would be one example. A reseller that adds value is appropriately called a Value-Added Reseller (VAR).

The best info about TSYS Merchant Solutions will be found below, so I encourage you to read the whole review.

You can find TSYS Merchant Solutions on Facebook, LinkedIn and Twitter.

Date Established:
1953.

Location:
TSYS Merchant Solutions has several locations, but they're headquartered in Omaha, Nebraska.

Domain Name(s):

• www.tsysmerchantsolutions.com
• www.fnms.com
• www.firstnationalmerchants.com
• www.termnetinc.com

Parent/Partner Company:
TSYS has many subsidiaries and partner companies that it works with. For the sake of this review, we'll only talk about the ones that matter to you, and they are, First National Merchant Solutions (FNMS) and TermNet Merchant Services. TSYS acquired FNMS back in April of 2010, and TermNet in May of 2011. Why is this important to you? Well, mainly because both of the above mentioned companies were merchant account providers themselves, so when doing your research, it's best to investigate those brand names as well. Although TSYS may have overhauled some of their system and processes, it's best to know if those companies were ethical or not.

Type:
Registered ISO/MSP, Direct Processor.

Acquiring Bank(s) (Acquirer):
First National Bank of Omaha, First National of Nebraska.

Payment Processor(s):
TSYS is the processor.

Payment Gateway(s):
Payfuse, Authorize.Net or Paypal Payflow.

Do you need help setting up your payment gateway? Visit the Payment Gateway Integration page for more info.

Trust Symbols:
There a multiple listings for TSYS Merchant Solutions on the BBB, including a couple that are for the companies which TSYS has acquired. Here are the listings that I used for my research:

• TSYS Merchant Solutions Headquarter's (Omaha, Nebraska). This is their main BBB listing. It has a "B-" rating, and 13 complaints in the last 36-months (as of this update).
• TermNet Merchant Services (Atlanta, Georgia). This listing is for the company which TSYS acquired back in May of 2011. They have an "A+" rating with 6 complaints in the last 36-months (as of this update).

Negative Reviews:
I searched for the keywords: "tsys merchant solutions complaints," "first national merchant solutions complaints" and "termnet merchant services complaints," which gave me a decent amount of info. You can also swap out "complaints" with "reviews" to find some review sites with info as well.

Considering how large TSYS Merchant Solutions is, I was surprised that they have only a handful of complaints. First National Merchant Solutions (a TSYS company) and TermNet (another TSYS company) didn't have that many either, which is great news.

Common Complaints:
There was only one common pattern that I could pick up amongst all the complaints.

• Undisclosed/Excessive Contract Term and Cancellation Fee: A merchant account with TSYS carries with it a 3-year contract term and $250 early termination fee. The contract also automatically renews when the 3-years is up. When there are other merchant account providers that don't lock you into a contract at all, it becomes hard to justify a reason to go with TSYS. Hopefully they'll follow suit and switch to the more desirable month-to-month contract in the near future.

Verifiable Testimonials/References:
There are plenty of testimonials and case studies on the TSYS Merchant Solutions website. Don't forget to ask for references.

Security/Privacy:
No on-site security features (i.e. McAfee, Security Metrics etc...). The security issue really depends on what kind of information the merchant account provider is collecting from you. If they require you to fill out a full digital application with sensitive info like SSN numbers, then they should definitely have some third-party security in place. Sometimes, and in the case of TSYS Merchant Solutions, the initial contact form only requires some basic info, then the real application is taken care of by fax or later on through a secure online app..

Customer Service:
I haven't had the chance to experience their customer service just yet. If you have any experience please let us all know.

Contract Duration:
The TSYS Merchant Solutions contract runs for 3-years and automatically renews once the initial term is up. I'm personally not a fan of auto-renew contracts, which played a factor in the rating that I gave TSYS Merchant Solutions.

Cancellation Fee:
$250 if you cancel before your 3-year contract is up.

If you decide to go with TSYS Merchant Solutions, ALWAYS ask them to waive the early termination fee. Most sales reps will do it for you. Just make sure that it clearly states so in your contract. Otherwise, sign up with a provider that only offers a month-to-month contract by default.

Interchange-Plus Pricing:
Interchange-plus is offered by TSYS Merchant Solutions. Be sure to ask for it. If you don't know the rate/terms to ask for, let me know. I'll tell you.

Seasonal Downtime:
TSYS Merchant Solutions does offer seasonal downtime, but be sure to work out the terms with your sales rep.

Product Offering:
Retail (Credit/Debit), eCommerce (Online), Payment Gateway, Virtual Terminal, ACH (Automated Clearing House), EBT (Electronic Benefits Tranfer), Gift Reward & Loyalty Cards, PCCharge, Point-of-Sale (POS), Mobile Commerce.

Specialty:
None.

Don't forget to leave your review and rating in the comment section below.

Note: Please remember, this review is for the direct sales wing of TSYS called, "TSYS Merchant Solutions." Any reviews that are left below should be from merchants that signed up for a merchant account directly through TSYS Merchant Solutions.

First Data Review

Merchant Maverick's Rating: (4 out of 5)

Last Updated: September 22nd, 2011.

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Overview:
First Data (FD) is the 800lb. gorilla of the credit card processing industry. They were established in 1969, and according to their stats, they serve over 6 million merchant locations worldwide. That is a HUGE merchant base.

First Data has many offices across the globe, but their U.S. headquarters is in Atlanta, GA. They also have an independent sales wing that is headquartered in Calabasas, CA.

I'm going to focus this review solely on First Data's direct sales channel. As you may know, there are MANY resellers (called ISOs/Agents) of First Data that either contract FD for their processing platform, or act as referral partners for all of FD's services.

Some of those resellers are going to be ethical, and others are not. My advice would be to just go direct with First Data. They have their own in-house sales team, and they can sign you up directly. No need to go through a middle-man, unless that middle-man is going to offer you something above and beyond what FD can give you. Superior customer support or training would be one example. A reseller that adds value is appropriately called a Value-Added Reseller (VAR).

I've broken the remainder of this overview down into two segments; Pros and Cons.

Let's start with the pros:

In conclusion, I think First Data is a good company. I think they'd be the perfect solution for a higher volume business that needs all the bells and whistles. Unless you smaller guys can get signed up with awesome rates, then a First Data account may be a bit too rich for your blood.

You can find First Data on Twitter, Facebook and LinkedIn.

I'm giving First Data a 4 out of 5 for now.

Date Established:
1969.

Location:
The First Data headquarters is in Atlanta, Georgia. Their Independent Sales headquarters is in Calabasas, California.

Domain Name(s):

• www.firstdata.com
• www.cardserviceinternational.com

Parent/Partner Company:
Cardservice International, Inc. is a DBA of First Data's. Cardservice also sells merchant services.

Type:
Registered ISO/MSP, Direct Processor.

Acquiring Bank(s) (Acquirer):
Wells Fargo Bank.

Payment Processor(s):
First Data is the processor.

Payment Gateway(s):
First Data Global Gateway (formerly LinkPoint).

Do you need help setting up your payment gateway? Visit the Payment Gateway Integration page for more info.

Trust Symbols:
You can find the First Data BBB profile here. It has an "A+" rating as of this review, with 215 complaints in the last 36 months.

They also have a TrusLink profile that you can find here.

Negative Reviews:
The best source that I found for complaints was on the Better Business Bureau website. There are plenty of other review and complaint sites like RipOffReport where you can get some good info, but those sites don't do a good job of filtering out irrelevant complaints. Keep in mind, there are many many resellers of First Data's services, and not all of those reseller's have good terms, ethical sales reps, or good customer service. So, FD might be taking the heat for some of their reseller's shady practices. The focus of this review is on First Data directly, so I'm only going to consider the reviews and complaints from people that signed up with First Data directly.

Common Complaints:

• Excessive fees: Most of the complaints revolve around First Data's fees. FD seems to have a fee for everything; PCI compliance, customer service, and even the new IRS reporting fee. They also have a costly cancellation fee (see Cancellation Fee). Granted, they do offer some great services for those fees, so if you're looking for a dirt cheap merchant account, then FD might not be for you. With that said, the best way to avoid overpaying for any merchant account, is to either have me help you, or you can use a service like FeeFighters. If you're the do-it-yourself type, you can negotiate with them on your own too. You just need to know what rates or terms to ask for. At the very least, you definitely want to make sure you have them waive the cancellation fee.
• Withheld Funds and Account Terminations: First Data has been known to be a bit trigger happy when it comes to holding funds or terminating accounts. You're going to want to learn how to avoid holds and minimize chargebacks, if you plan on signing up with FD.
• Enhanced Billback: They're also known for using a billing technique called enhanced billback, which isn't the most transparent billing method. I plan on writing about it in the future, but in the meantime, you can learn about it here.

Verifiable Testimonials/References:
There are plenty of testimonials and customer success stories on the First Data website.

Security/Privacy:
The First Data application is secured by Verisign.

Customer Service:
Surprisingly, their customer service is actually pretty good. Typically, very large companies suffer in that department, but judging from the lack of customer service related complaints, it seems like First Data is in good shape. FD offers 24/7 telephone & email support, including live chat.

Contract Duration:
The contract duration varies. Your sales rep will probably determine it during sign-up, but judging from their terms and conditions, it looks like the default term length is 4-years. Read the "Term and Termination" clause under Article VI, Section 26 for reference.

Cancellation Fee:
The default early termination fee by First Data is brutal. They have something called a "liquidated damages" type termination fee. Basically, that means that they'll charge you your minimum monthly fees multiplied by the remaining months in your contract. That can get VERY expensive. Here's a copy of their agreement by the way. Read section (8) under "Administrative Fees" to see what I'm talking about.

If you decide to go with First Data, ALWAYS ask them to waive the early termination fee. Most sales reps will do it for you. Just make sure that it clearly states so in your contract.

Interchange-Plus Pricing:
Interchange-plus is offered by First Data. Be sure to ask for it. If you don't know the rate/terms to ask for, let me know. I'll tell you.

Seasonal Downtime:
First Data does offer seasonal downtime, but be sure to work out the terms with your sales rep.

Product Offering:
Worldwide (International) Payments, eCommerce (Online), Payment Gateway, Virtual Terminal, Retail (Credit/Debit), Check Processing, ACH, EBT (Electronic Benefits Tranfer), Gift Reward & Incentive Cards, Terminals, Point-of-Sale (POS), Mail Order/Telephone Order (MOTO), Mobile Commerce, Payroll & Disbursement, PCI Security & Compliance.

Specialty:
Online Payments (eCommerce).

Don't forget to leave your review and rating in the comment section below.

Note: Please remember, this review is for the direct sales wing of First Data. If you signed up through a First Data reseller, please be sure to include that reseller in your review. Many times it's the reseller that is at fault, yet First Data ends up taking the blame.

Leaders Merchant Services Review

Merchant Maverick's Rating: (3.5 out of 5)

Last Updated: September 6th, 2011.

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Overview:
Leaders Merchant Services is a merchant account provider based out of Camarillo, California that has been in business since 2000, and has nearly 100,000 merchants under their belt. They operate two websites, one being Leaders' main site at LeadersMerchantServices.com and the other being RockBottomMerchantAccounts.com.

It took quite a bit of time for me to do this review, mainly because I had a lot of complaints to read through. As of this update, Leaders has about 163 complaints with the BBB and plenty more spread out across other review and complaint sites. Given their size, it's to be expected.

After reading all those complaints, it seems that the biggest issues merchants are having with Leaders are with hidden fees, and poor customer service (read Common Complaints below). In all my reviewing, I haven't seen this many complaints about hidden fees, so that pattern was something that I had to pay attention to.

If you have a look through any of Leaders website's, you'll notice that their advertised rates are significantly lower than most of their competitor's. So low in fact, that one would question how these guys make any money?

I have a feeling that the extremely low advertised rates, have something to do with the large number of "hidden fees" complaints. I suspect that most merchants are getting lured in by the "low rates" then getting a wake up call once their first statement arrives. This is a classic example of why it's not smart to shop a merchant account based solely on advertised rates. Especially if you don't understand interchange.

Some of the undisclosed fees and contract terms that were mentioned are the 3-year contract, with an early termination fee of $350 or $250 depending on when you cancel, the annual fee of $99, and the PCI compliance fee of $120/yr.

The good news is that Leaders seems to be actively responding to complaints in hopes of finding a resolution. According to the BBB complaints, Leaders has offered refunds to many of their unhappy customers. In a nutshell, your voice will be heard if you speak loud enough.

You can find Leaders on Facebook and Twitter.

Leaders Merchant Services gets a 3.5 out of 5 for now. I'm going to allow some of my readers to leave their reviews, then I'll revisit this.

Date Established:
2000.

Location:
Camarillo, California.

Domain Name(s):

• www.leadersmerchantservices.com
• www.rockbottommerchantaccounts.com
• www.lms-corp.com
• www.leadersccprocessing.com

Parent/Partner Company:
No parent or partner companies.

Type:
Registered ISO/MSP.

Acquiring Bank(s) (Acquirer):
Wells Fargo Bank.

Payment Processor(s):
Leaders Merchant Services is the processor.

Payment Gateway(s):
Authorize.Net.

Do you need help setting up your payment gateway? Visit the Payment Gateway Integration page for more info.

Trust Symbols:
You can find the Leaders Merchant Services BBB profile here. It has an "A+" rating as of this review, with 163 complaints in the last 36 months.

Negative Reviews:
There are a large number of complaints and negative reviews against Leaders Merchant Services all throughout the web. The BBB complaints, TrustLink reviews and RipOffReport complaints proved to be the best resources for my research.

Common Complaints:

• Hidden fees: There are many complaints about hidden fees. It seems that most merchants did not know that Leaders has an annual fee of $99, an annual PCI compliance fee of $120 and a monthly customer service fee (varies). Merchants also complained about their transactions clearing at a much higher rate than was quoted by Leaders (i.e. downgrades). To avoid the downgrade issue, ask for interchange-plus pricing.
• Poor customer service: This is another area where Leaders seems to be having trouble. The majority of criticism against Leaders has some mention of sub-standard customer service.

Verifiable Testimonials/References:
There are a few testimonials on the Leaders site, but non of them disclose the merchant's full name or business name. It's hard to take any of those at face value, so be sure to ask for references.

Security/Privacy:
No on-site security features (i.e. McAfee, Security Metrics etc...). The security issue really depends on what kind of information the merchant account provider is collecting from you. If they require you to fill out a full digital application with sensitive info like SSN numbers, then they should definitely have some third-party security in place. Sometimes, and in the case of Leaders Merchant Services, the initial contact form only requires some basic info, then the real application is taken care of by fax or later on through a secure online app.

Customer Service:
There have been a bunch of complaints about Leaders customer service. Take a little time and read through the details of the BBB complaints, and you'll know what I'm talking about.

Contract Duration:
3-years with a 30-day trial period.

Cancellation Fee:
Leaders offers a 30-day trial period, so if you cancel within that period, you won't be charged an early termination fee. After the trial period it's, $350 if you cancel before the first year is up, and $250 if you cancel within the 2nd or 3rd year.

Interchange-Plus Pricing:
Interchange-plus is offered by Leaders Merchant Services. Be sure to ask for it.

Seasonal Downtime:
Leaders does offer seasonal downtime, but be sure to work out the terms with your sales rep.

Product Offering:
Retail (Credit/Debit), eCommerce (Online), Payment Gateway, Virtual Terminal, Check Guarantee, Check Conversion, Gift Cards, Mail Order/Telephone Order (MOTO), Business Cash Advance.

Specialty:
None.

Don't forget to leave your review and rating in the comment section below.

Global Payments Review

Merchant Maverick's Rating: (4.5 out of 5)

Last Updated: July 30th, 2011.

Logo:

Click Here if You Need Help Choosing a Provider

Overview:
Global Payments (GP) is a BIG company. So big in fact, that they have their own Wikipedia page. You don't get a company profile on Wikipedia unless you have some clout, and clout they have.

Global Payments has been around since the 70's when they were called National Data Corporation. Now, they have hundreds of thousands of merchants under their wing, and they process billions (if not trillions) in transactions worldwide. That's right, Global Payments is an international payment processor. They are based in Atlanta, Georgia with offices in Canada, the UK, Europe and the Asia-Pacific region.

There are many many resellers (called ISOs/Agents) of Global Payments that either contract GP for their processing platform, or act as referral partners for all of GP's services.

Some of those resellers are going to be ethical, and others are not. My advice would be to just go direct with GP. They have their own in-house sales team, and they can sign you up directly. No need to go through a middle-man, unless that middle-man is going to offer you something above and beyond what GP can give you. Superior customer support/training would be one example. That would be considered a Value-Added Reseller (VAR).

I've broken the remainder of this overview down into two segments; Pros and Cons.

Let's start with the pros:

Pros
By going with Global Payments, you're going direct to the source. GP handles pretty much everything in house, which means that you'll probably be able to negotiate lower rates with them. Including, getting out of any type of long term contract or early termination penalty. Of course, those rates will vary from business to business, so if you need help on what pricing to ask for, let me know.

Speaking of which, Global Payments offers interchange-plus pricing, which is much more transparent than the usual tiered pricing model.

I also like that GP offers worldwide payment processing. That's an obvious plus for all of you international merchants.

Cons
Because they're such a big company, they might not be able to offer you top notch customer service. They probably won't be able to give you that personal touch that smaller companies can. So, if customer service is the most important issue with you, then you might want to consider going with another provider.

All in all, I like Global Payments. Enough to give them a 4.5 out of 5...for now.

Click Here if You Need Help Choosing a Provider

Date Established:
1970.

Location:
They have multiple locations all across the world, but they are headquartered in Atlanta, Georgia.

Domain Name(s):
www.globalpaymentsinc.com.

Parent/Partner Company:
Global Payments is not a subsidiary of any other company. HSBC Merchant Services is a wholly-owned subsidiary of Global Payments.

Type:
Registered ISO/MSP, Direct Processor, Acquirer.

Acquiring Bank(s) (Acquirer):
HSBC Bank.

Payment Processor(s):
Global Payments is the processor.

Payment Gateway(s):
Authorize.Net or Global Transport. Do you need help setting up your payment gateway? Visit the Payment Gateway Integration page for more info.

Trust Symbols:
You can find the Global Payments BBB profile here. It has an "A+" rating as of this review, with 16 complaints in the last 36 months.

Negative Reviews:
There are a few complaints on RipOffReport, but much less than what I would expect from such a large company.

Common Complaints:
None.

Verifiable Testimonials/References:
None found. It'd be nice to see some good testimonials or case studies. In the meantime, ask your Global Payments sales rep for some references. Specifically, for merchants that are in the same industry as you.

Security/Privacy:
No on-site security features (i.e. McAfee, Security Metrics etc...). The security issue really depends on what kind of information the merchant account provider is collecting from you. If they require you to fill out a full digital application with sensitive info like SSN numbers, then they should definitely have some third-party security in place. Sometimes, and in the case of Global Payments, the initial contact form only requires some basic info, then the real application is taken care of by fax or later on through a secure online app.

Customer Service:
Global Payments offers 24/7 support via a toll-free number and email. I personally called them at 3am on a Friday and was able to speak to an actual live human being. They do have an automated menu that I had to traverse through to get to that person, but I wouldn't expect much more from such a large company.

Contract Duration:
The contract term is going to vary depending on which one of Global Payments' resellers you go through. I suggest that you just go direct, and negotiate a "no contract" agreement.

Cancellation Fee:
Same as above, the cancellation fee will vary, but if you go direct to Global Payments, you can probably work out a "no early termination" deal with them. Let me know if you need help with doing so.

Interchange-Plus Pricing:
Interchange-plus is offered by Global Payments, but pricing will vary, so contact me and I'll tell you exactly what rates you should ask for.

Seasonal Downtime:
Global Payments does offer seasonal downtime, but be sure to work out the terms with your sales rep.

Product Offering:
Worldwide (International) Payments, Retail (Credit/Debit), eCommerce (Online), Payment Gateway, Virtual Terminal, Check Processing, ACH, EBT (Electronic Benefits Tranfer), Gift Cards, Stored Value Cards, Point-of-Sale (POS), Money Transfer.

Specialty:
None.

Don't forget to leave your review and rating in the comment section below.

Click Here if You Need Help Choosing a Provider

PayLeap Review

Merchant Maverick's Rating: (4.5 out of 5)

Last Updated: June 8th, 2011.

Logo:

Get Started With Payleap | Need More Help? Click Here

Overview:
PayLeap is a newer merchant account provider (est. 2008). They're based out of Warsaw, Indiana and have a good standing with the BBB. Though they're already quite popular, I would still consider them a smaller provider...at least for now. Don't get me wrong, that doesn't mean that they're not good. By being newer, they seem to understand what merchants really want.

Their pricing/terms are very competitive. They won't lock you into a contract or charge an early termination fee, and they offer interchange-plus pricing, which happens to be a more transparent pricing model.

They have their own payment gateway that they don't charge a monthly fee for. Ideal for eCommerce merchants.

I would obviously like to see some case studies or testimonials on their site. Hopefully they'll put some up.

You can connect with them on Facebook and Twitter if you want.

I gave PayLeap a 4.5 out of 5 only because they're still pretty new and they haven't proven themselves yet. If they continue in the direction that they're going, they'll be a 5-star provider soon enough.

Get Started With Payleap | Need More Help? Click Here

Date Established:
2008.

Location:
Warsaw, Indiana.

Domain Name(s):
www.payleap.com.

Parent/Partner Company:
PayLeap is a DBA for Affinity Payments.

Type:
Registered ISO/MSP.

Acquiring Bank(s) (Acquirer):
Wells Fargo Bank.

Payment Processor(s):
PayLeap is the processor.

Payment Gateway(s):
PayLeap has their own payment gateway.

Do you need help setting up your payment gateway? Visit the Payment Gateway Integration page for more info.

Trust Symbols:
You can find the PayLeap BBB profile here. It has an "A-" rating as of this review, with only 4 complaints in the last 36 months.

Negative Reviews:
They don't have any negative reviews that I could find. Granted, they are a newer company (2008), but that's still pretty impressive.

Common Complaints:
None.

Verifiable Testimonials/References:
None found. It'd be nice to see some good testimonials or case studies.

Security/Privacy:
No on-site security features (i.e. McAfee, Security Metrics etc...). The security issue really depends on what kind of information the merchant account provider is collecting from you. If they require you to fill out a full digital application with sensitive info like SSN numbers, then they should definitely have some third-party security in place. Sometimes, and in the case of PayLeap, the initial contact form only requires some basic info, then the real application is taken care of by fax or later on through a secure online app.

Customer Service:
I haven't worked directly with PayLeap. This is where your personal experiences would be helpful. Let us know how your experience has been with them.

Contract Duration:
I was told that there is no contract duration term.

Cancellation Fee:
No cancellation fee either. Be sure to read your contract though.

Interchange-Plus Pricing:
Interchange-plus is offered by PayLeap.

Seasonal Downtime:
I was told that PayLeap will work with you if you have a seasonal business, but be sure to iron out the terms before you sign-up.

Product Offering:
Retail (Credit/Debit), eCommerce, Payment Gateway, Mobile.

Specialty:
None.

Don't forget to leave your review and rating in the comment section.

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PowerPay Review

Merchant Maverick's Rating: (4.5 out of 5)

Last Updated: June 3rd, 2011.

Logo:

Get Started With PowerPay | Need More Help? Click Here

Overview:
PowerPay has been in business since 2003. They have over 48,000 merchants that they process for, yet their complaint count on the BBB is still relatively low compared to their size.

They are the parent company for E-OnlineData which also has a great review on my site. I wouldn't have any problems recommending you to either of these companies. Both are top notch.

PowerPay does not have a contract or cancellation (early-termination) fee. That's always a plus.

They offer interchange-plus pricing, which I think should be the standard these days.

You can find them on Facebook, Twitter and LinkedIn.

PowerPay gets a 4.5 out of 5.

Get Started With PowerPay | Need More Help? Click Here

Date Established:
2003.

Location:
Portland, Maine.

Domain Name(s):

• www.powerpay.biz.
• www.e-onlinedata.com.

Parent/Partner Company:
PowerPay, LLC is the parent company of E-OnlineData.

Type:
Registered ISO/MSP.

Acquiring Bank(s) (Acquirer):
HSBC Bank.

Payment Processor(s):
PowerPay is the processor.

Payment Gateway(s):
Authorize.Net. Do you need help setting up your payment gateway? Visit the Payment Gateway Integration page for more info.

Trust Symbols:
You can find the PowerPay BBB profile here. It has an "A+" rating as of this review, with 37 complaints in the last 36 months.

Negative Reviews:
They hardly have any negative reviews that I could find. Even on RipOffReport, the majority of complaints are directed towards a company called PowerPay America which is not the PowerPay that we are talking about here.

Common Complaints:
None.

Verifiable Testimonials/References:
None found. It'd be nice to see some good testimonials or case studies.

Security/Privacy:
Their online application is secured via VeriSign.

Customer Service:
I haven't worked directly with PowerPay. This is where your personal experiences would be helpful. Let us know how your experience has been with PowerPay.

Contract Duration:
I was told that there is no contract duration term.

Cancellation Fee:
No cancellation fee either. Be sure to read your contract though.

Interchange-Plus Pricing:
Interchange-plus is offered by PowerPay.

Seasonal Downtime:
PowerPay doesn't have a specific program for seasonal merchants. If you're an eCommerce merchant that operates a seasonal business, you still have to pay for your payment gateway fee, so it would be best to just cancel your PowerPay account during your down months, then start back up when you're processing again. Since they don't have a cancellation fee, it won't be too expensive for you to do so.

Product Offering:
Retail (Credit/Debit), eCommerce, Mail Order/Telephone Order (MOTO), Wireless, Check Processing, Gift Cards, Point-of-Sale (POS).

Specialty:
None.

Don't forget to leave your review and rating in the comment section.

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United Bank Card Review

Merchant Maverick's Rating: (3.5 out of 5)

Last Updated: June 2nd, 2011.

Logo:

Overview:
United Bank Card (UBC) is based out of Hampton, New Jersey and has been in business since 2000. Based on the info I pulled from their site, they have about 110,000 merchant locations that they process for, with over $9 billion in annual processing volume. Needless to say, they are a pretty large processor.

Most of the good info will be found in the rest of this review, but I'll give you a quick recap here...

Even though they are a large ISO/MSP, their complaint count is much higher than some other processors their size (see Moneris, Elavon, EVO). That's not a good sign.

They also have a tough cancellation fee (see below), that can end up costing you a pretty penny. You want to avoid that at all cost. If you can, have them waive the fee, but make sure you get it all in writing.

I couldn't find any testimonials on their site. Not a huge deal, but it would be nice to see some.

You can find them on Facebook and Twitter.

United Bank Card gets a 3.5 out of 5 for now.

Click Here If You Need Help Choosing a Provider

Click Here To Learn How To Lower Your Credit Card Processing Fees

Date Established:
2000.

Location:
Hampton, New Jersey.

Domain Name(s):

• www.unitedbankcard.com.
• www.isoprogram.com (ISO/Agent Program).
• www.unitedcashsolutions.com (ATM Solutions).
• www.harbortouch.com (POS Systems).

Parent/Partner Company:
The United Bank Card Network consists of two other major entities. Harbortouch POS Systems and United Cash Solutions which offers ATM solutions.

Type:
Registered ISO/MSP.

Acquiring Bank(s) (Acquirer):
First National Bank of Omaha.

Payment Processor(s):
United Bank Card is the processor.

Payment Gateway(s):
Authorize.Net. Do you need help setting up your payment gateway with your website? Click here.

Trust Symbols:
The United Bank Card BBB profile has an "A-" rating as of this review, with 216 complaints in the last 36 months. That's pretty high, even for a large processor like UBC.

Negative Reviews:
The bulk of the negative reviews are going to be found on RipOffReport. There are about 40 of them (as of this update), so there's a quite bit of reading that you'll have to do. I personally read through all of them. See below to learn about the commonalities that I found.

Common Complaints:
Here they are...

• Witholding of funds/termination of accounts: It's hard to blame UBC in this regard. They accept a certain amount of risk for taking on a merchant. If that merchant starts conducting business outside of the agreed upon terms, then UBC has every right to investigate, and withhold funds if they suspect any fraud. Here are a few reasons why you will get red flagged by UBC: (1) If you start processing way beyond the estimated monthly processing volume that you initially gave them when you signed up, (2) if you sell something that is way above the average ticket price that you told them, and (3) if you receive multiple chargeback disputes. Now, with that said, some processors are a bit more "trigger happy" than others, so judging by all the complaints, UBC may be quicker to hold funds and shut down accounts. That's something you'll want to consider when signing up with them.
• High cancellation (early-termination) fees/Auto-renewal of contract: Some complaints were in regards to UBC's contract terms and cancellation fee. Just so you know, if you break the UBC contract (3-years), then you either have to pay $250, or $35 multiplied by the number of months remaining in your contract. Whichever is more. This is generally referred to as a "liquidated damages" cancellation fee, and can be very very costly. On top of that, the UBC contract auto-renews once the 3-years is up. Not good.

Verifiable Testimonials/References:
None found. Be sure to ask for references.

Security/Privacy:
No on-site security features (i.e. McAfee, Security Metrics etc...). The security issue really depends on what kind of information the merchant account provider is collecting from you. If they require you to fill out a full digital application with sensitive info like SSN numbers, then they should definitely have some third-party security in place. Sometimes, and in the case of UBC, the initial contact form only requires some basic info, then the real application is taken care of by fax or later on through a secure online app.

Customer Service:
Haven't had a chance to deal with their customer service, so don't forget to leave us a review if you have.

Contract Duration:
The contract duration is for 3-years, and auto-renews once the contract term is up.

Cancellation Fee:
The cancellation fee is either $250 or $35 multiplied by the number of months left in your contract. It's a brutal cancellation fee that gives sales reps no incentive to maintain the account, since they get paid regardless of whether the merchant stays with UBC or not.

I found two different versions of the UBC contract that make mention of the cancellation fee. The first one has a clear clause written about it in section "D6" and the second one has a small blurb mentioning something about a possible "minimum penalty of $250" at the bottom of section "B3."

Interchange-Plus Pricing:
Interchange-plus pricing is offered by UBC.

Seasonal Downtime:
Seasonal downtime is also offered.

Product/Service Offering:
Retail (Credit/Debit), Electronic Benefits Transfer (EBT), Check Guarantee, e-Commerce, Gift & Loyalty, ATM, Point-Of-Sale (POS).

Product/Service Specialty:
None in particular, but the majority of their merchants are small-to-mid-sized businesses.

Don't forget to leave your review and rating in the comment section.