Merchant One Review

Merchant One is a Miami, Florida-based independent sales arm of United Bank Card that uses First Data (now Fiserv) as its backend processor. Merchant One has recently rebranded its logo and revamped its website to make the claim that it serves more than 100,000 merchants. In December 2022, Merchant One was purchased by Fiserv, the largest company in the credit card processing industry.

Payment Processing

Merchant One offers a range of credit and debit card processing services, suitable for various business needs. Their offerings include an iPhone app for wireless processing, POS systems, swipers, a virtual terminal, recurring payments, a customer vault, analytics and reporting, gift and loyalty programs, marketing campaigns, PCI compliance, check processing, e-commerce solutions like shopping carts, cash advances, B2B programs, and 24-hour support.

• POS Systems and Countertop Card Readers
  • For physical retail businesses, Merchant One provides point-of-sale (POS) systems that support various industries.
• Online Credit Card Processing
  • Merchant One offers an internet payment gateway for businesses operating online. This feature facilitates secure and efficient online transactions and is compatible with numerous shopping cart systems.
• Mobile Payment Processing
  • Merchant One provides a mobile payment solution that enables businesses to accept payments via smartphones or tablets.
• Fraud Prevention Measures
  • Merchant One promotes that it employs various fraud prevention measures to ensure secure transactions.
• Gift Card Programs
  • Merchant One offers customizable gift card programs, enabling businesses to design their own gift cards and track sales data in real-time. Such programs are intended to boost sales and customer loyalty.
• Merchant Cash Advance
  • For businesses seeking quick access to capital, Merchant One provides merchant cash advances. These advances are an alternative to traditional loans, designed to be easier to qualify for and to supply businesses funds quickly that are repaid with future sales.

Comprehensive Review of Merchant One Feedback

An extensive examination reveals over 120 negative Merchant One reviews on various consumer protection sites, with accusations ranging from labeling the company as a scam to allegations of deceptive practices. This volume of complaints is notable compared to other providers of similar size, with many businesses expressing dissatisfaction with perceived misrepresentations in Merchant One’s advertising and sales strategies. Common grievances include undisclosed fees, unclear contract terms at the point of account setup, and substantial cancellation fees. We invite those with personal experiences with Merchant One to share their insights in the comments section below.

Evaluating Merchant One’s Customer Support

Merchant One offers a dedicated customer support hotline, though it remains ambiguous whether this service is directly managed by Merchant One or outsourced to First Data (Fiserv). This uncertainty, coupled with the volume and nature of complaints, impacts the company’s reputation for customer service.

PaymentPop Rating for Merchant One

Positive Feedback

There are no positive reviews published about Merchant One on the PaymentPop website.

Merchant One BBB Rating

Merchant One has an average customer review rating of 1.02/5 stars on BBB based on 50 customer reviews. The company has also received 82 complaints closed in the last 3 years, with 48 complaints closed in the last 12 months. Common themes in the reviews and complaints include issues with billing and collection, dissatisfaction with services provided, and challenges in communication with the company.

Positive Feedback

There are no positive reviews published about Merchant One on the BBB website.

Trustpilot Rating for Merchant One

Merchant One has an average customer review rating of 4.8 out of 5 stars on Trustpilot, based on 11,673 customer reviews. The majority of reviews (94%) are 5-star, indicating a high level of customer satisfaction. Common themes in the reviews include appreciation for excellent customer service and efficient problem resolution.

Yelp Rating for Merchant One

Merchant One has a 1.4 out of 5 star rating based on 31 user reviews on Yelp.

ComplaintsBaord Review Analysis

The content from the Merchant One page on ComplaintsBoard.com reveals various customer experiences. The page includes multiple complaints, each detailing specific issues faced by customers. Common themes in these complaints include unexplained settlements from bank accounts, high monthly fees, and issues with contract transparency.

Positive Feedback

There are no positive reviews published about Merchant One on the ComplaintsBoard.com website.

Source: ComplaintsBoard.com

Merchant One Pricing

Pricing and fees for a Merchant One business account can vary depending on factors such as business type and processing volume. The standard merchant account contract typically ranges from three to five years. Early termination fees may apply, with a charge of $25 per month for the remaining contract months or $295, whichever is greater. Despite the advertised early termination fee of $0.00 on the company’s homepage, recent complaints suggest a fee increase to $750. Additionally, the agreement may include a non-cancellable lease for the contract term. For more options, business owners can explore our list of the best merchant services.

Virtual Terminal and Payment Gateway Pricing

Apart from storefront payment processing, Merchant One offers virtual terminal and payment gateway services, although pricing for these services is not disclosed on the website. The company provides over 175 shopping cart integrations to clients. Additional fees, including gateway fees, technical support fees, and batch fees, may apply to these e-commerce services.

Nondisclosure Complaints

Several client complaints highlight issues regarding nondisclosure of contract terms and cancellation fees during the application process. Business owners are advised to review the contract document, particularly the early termination fee (ETF) section, to ensure clarity. There also appears to be a conflict regarding the annual PCI Compliance fee, which is around $100 despite the advertised $0.00 fee. As more information becomes available about Merchant One’s contract policies, updates will be provided. It’s recommended for business owners to compare pricing with other merchant account providers for potential cost savings. Refer to the Merchant One Program Guide for detailed information.

In March 2021, Merchant One faced a lawsuit alleging violations of the Fair Credit Reporting Act, specifically accusing the company of inaccurately reporting a disputed debt. This legal matter is currently unresolved. Clients seeking non-litigious resolutions to their disputes with Merchant One are encouraged to report their issues to appropriate oversight bodies.

Misleading Rate Quotes

We have found a few instances of misleading marketing and reports of deceptive sales tactics attributed to Merchant One. In the past, Merchant One promoted processing rates starting at 0.39% on its homepage as well as through online advertisements we found. Currently, the company’s homepage quotes low rates “starting at 0.29%.” Not only do these quoted rates set unrealistic expectations, but only a tiny fraction (if any) of a client’s transactions would qualify for them. The site fails to mention what type of transaction qualifies for this transaction rate or whether businesses will experience additional fees outside of that rate. This does not compare favorably to our list of best credit card processors.

Widespread Sales Complaints

In addition to the misleading rate promotion, Merchant One’s website used to state that merchants “will not be subject to any long-term agreement” and “are absolutely free to cancel their services with us at any time—for any reason.” Based on Merchant One complaints describing cancellation fees ranging from $200-$300, this claim was either a new policy or a complete falsehood. As of this update, these claims appear to have been removed from the Merchant One website, indicating that they might not have been completely truthful. Although the company has removed these specific claims, we are still awarding it a “D” based on the large number of complaints that the company has received and the rate quotes described above. If you suspect that Merchant One is charging you undisclosed fees, we recommend seeking a third-party statement audit to find and eliminate hidden charges.

Merchant One, a prominent credit card processing provider, is currently rated as a below-average processor. Numerous reviews raise concerns about high fees and deceptive marketing tactics, leading to a lower rating in this review. While a considerable number of Merchant One customers are likely satisfied, the company has a disproportionately high complaint volume compared to other processors of similar size. The prevalence of non-disclosure issues and misleading rate promotions complicates the company’s reputation, making it challenging to score favorably.

Business owners considering a Merchant One account are strongly encouraged to carefully review and understand the contractual terms before committing. Those seeking greater transparency and peace of mind might prefer exploring top-rated credit card processors as alternative options.