PayLeap Review

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

Last Updated: June 8th, 2011.

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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.

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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.

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