Mobile Credit Card Processing Rating Criteria
Mobile Credit Card Processing Rating Criteria
Mobile credit card processing as a review category has many similarities to credit card processing/merchant accounts but is more limited in scope, addressing a specific mobile app, hardware, and the payment processing plan that accompanies it from a single provider. (Keep in mind that many providers may offer the same mobile app and hardware but with vastly different terms, and larger merchant account providers may offer multiple mobile solutions.)
Third-party processors are reviewed against the same criteria as traditional merchant accounts. Third-party processing does not preclude a score of 5 stars at Merchant Maverick, but it does mean that the company must compensate for an account stability issue in other ways in order to obtain a score of 5 stars in the mobile category.
Mobile credit card processing is rated on the following six sections: Products & Services, Fees & Rates, Contract Length & Cancellation, Sales & Advertising Transparency, Customer Service & Technical Support, and User Reviews.
Each section is assigned a rating of Excellent, Good, Fair, or Poor based on the outlined criteria. The overall score out of 5 stars is then based on the following general guidelines:
| Overall Score | Section Ratings |
|---|---|
| 5.0 | Majority "Excellent" and "Good", no "Poor" |
| 4.0 - 4.5 | Majority "Good" |
| 3.0 - 3.5 | Majority "Good" and / or "Fair" |
| 2.0 - 2.5 | Majority "Fair" and / or "Poor" |
| 1.0 - 1.5 | Majority "Poor" |
For more detailed information on scoring, as well as how we make recommendations based on these scores, see our Rating And Scoring System.
The following characteristics warrant an Excellent rating:
Products & Services
- Provides a well-rounded set of features that serve the intended audience
- Feature set offers good value for the price
- Features include: card readers with EMV option and ideally NFC as well
- Includes free or competitively-priced hardware
- Well-made and easy to navigate app design
Fees & Rates
- The pricing model is well-suited for the intended audience (e.g., interchange-plus or subscription-based pricing for mid/high volumes, flat-rate for low volumes and/or ticket sizes, no monthly minimum for low-volumes)
- Pricing is competitive and affordable relative to the intended customer base
- Account fees (if any) provide good value relative to cost, and no “junk” fees are charged (e.g., application fees, account setup fees, PCI noncompliance fees)
Contract Length & Cancellation
- Offers true month-to-month (or pay-as-you-go) billing with no long-term commitment and no penalty for closing the account
- Good account stability with few terminations reported (PSPs on par with traditional merchant accounts)
- No “inactivity fee” for accounts that go unused for a period of time (bonus: seasonal account options available)
- Does not use third-party resellers, or it’s an individually vetted reseller with an established history of transparent pricing and fair contract terms
Sales & Advertising Transparency
- Maintains a professional, up-to-date website that is clear, comprehensive, and easy to navigate
- The website includes full pricing and contract term disclosures
- The website is free of misleading advertising, sales gimmicks, and marketing fluff
- Sales representatives use transparent and well-regulated practices
- No pattern of complaints from merchants regarding poor sales practices
- Strong social media presence with frequent updates
Customer Service & Technical Support
- Provides multiple avenues for personalized support (e.g., phone, email/web tickets, live chat, active social media accounts)
- Provides an extensive collection of quality online self-help resources (e.g., FAQ, knowledgebase, tutorial videos, community forums, blog, etc.)
- A live representative can be reached seven days a week via phone, live chat, or email/web ticket
- Company responds to support requests in a timely manner (e.g., emails within 24 hours, phone holds and live chats within minutes)
- Support representatives are knowledgeable, courteous, and able to resolve issues
- Support department has a reputation for good service, even if some complaints exist
User Reviews
- The number of complaints is reasonable in proportion to company size and user base
- Complaints are addressed publicly in a reasonable and respectful manner
- Customer feedback is taken into consideration when updating the software/service, which frequently renders older complaints obsolete
- Positive reviews outnumber complaints
- A substantive number of credible positive reviews are available online from verifiable customers
- Receives mostly positive reviews/scores on trusted third-party review sites (and/or app marketplaces)
- Positive reviews include significant detail regarding reasons for the high rating
Note: Mobile credit card processing services with very few user reviews receive a rating of Fair until more data becomes available.
