MerchantPlus.com Review
Merchant Maverick's Rating: (5 out of 5)
Last Updated: April 15th, 2010.
Overview:
Ok, so I came into this review expecting the same thing that I have with most of my other reviews...more bad news. But I have to say that I'm pretty dang surprised with what I found.
These guys understand the importance of transparency by publicly displaying their merchant processing agreement, and by offering a support forum for clients to voice their concerns.
I could blame their lack of negative reviews on the relative infancy of the company, but I think that 6 years is plenty of time to screw over a few customers here and there. Plus, I'm noticing that these newer "internet-age" companies understand how accountable social media channels of this day can make them. So they operate like they're being watched because...well...they are. Speaking of social media channels, feel free to voice your opinion on the MerchantPlus Twitter page.
They have a secured digital application, verifiable testimonials and offer both interchange-plus pricing and seasonal downtime.
MerchantPlus gets a 5 out of 5.
Click Here To Get Started With MerchantPlus
Or You If You Need More Help Choosing a Provider Click Here
Date Established:
2003.
Location:
New York, New York.
Domain Name(s):
www.merchantplus.com.
Parent/Partner Company:
Doesn't look like MerchantPlus is a subsidiary of any other company.
Type:
Registered ISO/MSP.
Acquiring Bank(s) (Acquirer):
Wells Fargo Bank and BancorpSouth Bank.
Payment Processor(s):
iPayment or BluePay.
Payment Gateway(s):
NaviGate or Authorize.Net.
Do you need help setting up your payment gateway with your website? Click here.
Trust Symbols:
Here is the MerchantPlus.com BBB profile. They have an "A+" rating as of this review, without any complaints in the last 36 months.
Negative Reviews:
You can find one complaint on RipOffReport that includes a rebuttal from an employee at MerchantPlus, and be sure to read the reviews in the comment section right here on MerchantMaverick.com.
Common Complaints:
There really aren't enough complaints (as of this review) to determine commonalities between them.
Verifiable Testimonials/References:
I was able to obtain contact information for 4 of the 6 client testimonials they have listed on their site. Out of those 4, I received two actual responses from the people that left the testimonial which was awesome!!
Security/Privacy:
The MerchantPlus digital application is secured by McAfee.
Customer Service:
I've personally chatted with their customer service reps both on the phone and via their livechat feature. Their staff was knowledgeable, up-front (surprisingly) and responsive.
Contract Duration:
2-years.
Cancellation Fee:
No cancellation fee either.
Interchange-Plus Pricing:
Interchange-Plus is offered by MerchantPlus, but only for merchants with large monthly processing volumes.
Seasonal Downtime:
They do offer seasonal downtime, but only for merchants that process more than $100k per month.
Product/Service Offering:
Online/Internet/e-Commerce, Retail, Wireless and iPhone/Android
Product/Service Specialty:
Online/Internet/e-Commerce/Virtual Terminal.
Don't forget to leave your review and rating in the comment section. 
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October 16th, 2009 - 20:37
I hate to break the great record here but so the story goes…. I have processed only 2 batches with MerchantPlus. Between both batches a mere 5000.00 (approved monthly 25K). Out of the blue we get a request for invoice copies and tracking numbers of our shipments to our 2nd batch of customers. Fax’d over to them within 10 minutes. Wow then the next day we get told our batch is held. Wow then the next day we get told they dont want our account and have closed it…WOAH…guess why? Our company has an F rating with the BBB because we dont respond to any complaints they send us anymore seeing as we are not a “member” they never agree with our side anyway. Trust me, I dont think the the world is out to get me. I’m very, very business oriented. Back to the nigtmare, besides closing my account they are going to hold my 2nd batch of 3100.00 “in case of chargebacks”… They would not even let me refund all of the customers charges to be completely done with their company since they didn’t want me as a customer. USE STRONG CAUTION. Especially if you do not believe in or support the BBB. Someday, they profess to release our 3 grand )without interest)… There is always a first complaint and when businesses grow sometimes they get too full of themselves and maybe thats happened here. Its a shame because us little guys built them there and now they could care less about us little guys.
November 19th, 2009 - 02:42
Marcy,
I’m sorry to hear that you had a bad experience with MerchantPlus. Although I can’t speak for their company, I’d have to say that so far, you’re the only one of my visitors that’s had a rough time with them. I wish you the best of luck in your search for a new provider, and I’ll definitely consider your comments, during the next update.
Thanks again!
November 4th, 2009 - 12:03
My name is Narvin and I’m an Account Manager with MerchantPlus. I’d like
to reply to Marcy’s post as I personally worked very hard to resolve the
issues on her account. Unfortunately, due to the undisclosed processing
history of this merchant, there was little that could be done.
MerchantPlus is an ISO (Independent Sales Office) that provides merchant
accounts for the individual or business wanting to process credit cards.
However, we do not have final say in whether a particular account is
approved, declined, our deemed too risky to process. This decision is up
to the banks we work with and their underwriting departments. Our role
is to provide the merchant with a seamless integration, the best rates,
fees, and customer service that we possibly can.
I am very sorry that the case ended as it did. Due to various risk
factors we could not keep the account open despite our best efforts. We
completely understand that Marcy is frustrated in this matter, but
realistically her account would have been closed by any other processor.
We *always* put our customers first and Marcy was no exception. While we
did fight for her, in the finance industry (especially when dealing with
banks and risk issues) there are always limits to what we can do.
November 19th, 2009 - 02:52
Narvin,
Thank you for the response. I personally know that, much like you’ve said, there are some issues that are out of an ISO’s hands. As a merchant, it’s difficult for us to understand the whole process (i.e. processor’s, acquiring banks etc…), and since the ISO is our only point of reference, they usually bear the brunt of our frustration.
I think a good solution to a problem like this would be for ISO’s to make an extra effort to educate merchants about all the players involved, so they don’t end up getting blamed for something that’s out of their hands. It might take up more of your time, but I feel that most merchants will be sympathetic, if the account manager is sincere in that effort.
December 3rd, 2009 - 14:18
Narvin,
Your reply could not be more incorrect. We utilized Card Service International for 6 years before changing for better rates and your company was a nightmare. We are now back with Card Service International and could not be happier to be back there. We are a zero risk with a zero chargeback history. I can see how you have to make your company look great so people with sign up with you but your company was a nightmare for us and your statements of our processing history is a complete lie and further more we would not be dropped by any other bank as I stated we are back with CSI and are very happy!!!!!!!!!!!!!
November 8th, 2009 - 13:53
There are too many other providers out there, for me to agree to a contract with these terms:
If Merchant is approved, any cancellation by You of this Agreement within three (3) years from the date of approval or is terminated by Servicers due to an Event of Default by Merchant, will be subject to the applicable early termination fees and Merchant will be charged a fee for such early termination equal to (i) $350.00 if terminated before completion of the first year of the Term; or (ii) $250.00 if terminated after completion of the first year of the Term but prior to the end of the third year of the Term (See Section 22.1 of the Agreement – Program Guide).
Qualified Rate: 2.15 %
NOTE: Not all transactions will be considered qualified by Visa and Mastercard. As such, some transactions may be downgraded to a mid or non-qualified rate. This generally occurs when Address Verification is not performed or successful, among other reasons. In such cases, a Mid−Qualified Rate Surcharge of 2.19% and Non−Qualified Rate Surcharge of 2.19% will be used. If used, voice authorizations cost $1.50.
November 8th, 2009 - 15:23
Thanks for the comment Brian. Which part of the contract doesn’t sit well with you?
As far as the tiered-pricing is concerned, I’d have to agree with you, but that’s why you should ask for interchange-plus pricing instead. Your statements might be a bit more difficult to read, but there’s definitely more transparency. You won’t have to worry about:
But, the early-cancellation fee isn’t a HUGE deal, so long as the company you’re working with is decent enough to not force you to cancel early. With that said, you are right in that there are a ton of ISOs out there that don’t carry early-cancellation terms. Don’t forget, you can always try and negotiate with MerchantPlus about that too.
November 19th, 2009 - 20:55
You were right. While I ended going with another provider, I got pretty far along with the application and found that they do infact waive cancellations for merchants, but I still find their rates a bit steep.
November 19th, 2009 - 22:32
Brian,
Understood. If you can find a merchant provider that doesn’t charge an early-termination fee, doesn’t have contract terms and offers great rates. That’s a no-brainer to me.
November 18th, 2009 - 12:02
I signed up with MerchantPlus based on the review here. I made the decision after an exhaustive amount of research, and having talked to reps at quite a handful of companies. When I initially called MerchantPlus, I was impressed at how straightforward, helpful and articulate the rep was. Reps at all the other companies were like used car salesmen. No hard sell from MerchantPlus!
I couldn’t be happier with my decision. As a new owner of an internet business, this is my first experience with a merchant account. I was approved quickly and setting up the new service was seamless. Every time I’ve called customer service, the service was professional and helpful. Based on the many horror stories I’ve read of business owners’ experiences with merchant accounts, I was prepared for the worst, but I have had nothing but a positive experience with MerchantPlus. I have recommended them to many other business owners and will continue to do so.
Thank you so much, Merchant Maverick, for posting these objective reviews here! There are not a lot of objective reviews easily found on the internet. You are providing a great service, and have potentially saved me and others from merchant account nightmares!
November 19th, 2009 - 02:55
Sarah,
Thank you so much for the great comment. I try my best to paint an accurate picture of all the merchant service providers out there. Sometimes I get it right, sometimes I don’t. But like you said, it’s extremely difficult to find another site that at least tries to put in the same level of effort that I do with my reviews.
Best of luck to you, and your relationship with MerchantPlus. Please let me know if you have any questions.