PayLeap Overall Rating
Formerly known as Affinity Payments, PayLeap (payleap.com) is a merchant account provider founded in 2008 in Warsaw, Indiana. The company is best known for its virtual terminal and e-commerce credit card processing package, but also supplies traditional credit card terminals and POS systems. Aside from providing credit card processing services, PayLeap also offers ACH/check processing and gift card processing.
PayLeap has primarily positioned itself as a competitor of companies such as Authorize.net, PayPal, Google Checkout and Volusion with a service offering that appeals to merchants interesting in e-commerce and virtual terminal services. Payleap’s services offer a variety of features including recurring billing, hosted payment gateways, multi-user support, reporting, and the ability to accept face-to-face transactions, among others.
PayLeap Sales & Marketing Tactics | A
PayLeap appears to primarily market its services in several ways, including online advertising, strategic partnerships, and independent resellers. Although the use of independent resellers would normally lower a company’s score in this section, PayLeap seems to have avoided the typical problems usually associated with the practice with strict underwriting and sales policies. There is no evidence of deceptive rate quoting in PayLeap’s official materials, and we are currently unable to locate any complaints that mention unethical practices by the company’s sales team. The only factor lowering PayLeap’s score in this section is the fact that its pricing page does not list its monthly fees, but this page does not purport to be a full pricing breakdown.
PayLeap Costs & Contract Terms | A+
The PayLeap pricing page lists transaction fees of 1.89% plus $0.29 for PIN Debit transactions, 2.39% plus $0.29 for normal debit transactions, 2.89% plus $0.29 for credit card transactions. According to this page, which lists its other fees, Payleap charges a $17 per month service fee, which includes the merchant account and payment gateway, and a $10 monthly statement fee. Merchants who wish to accept gift card payments and/or ACH/eCheck processing will also be subject to an additional $14.99 monthly fee for each respective service. It is unclear if there are additional minimum processing fees or PCI Compliance Fees. Be sure to ask your agent to list all fees and thoroughly read the contract before signing.
PayLeap’s standard merchant account contract has a month-to-month service agreement with no cancellation fee and appears to have competitive pricing in comparison to similar services. Due to this we are awarding the company an “A+” rating in this section. If you have more information about PayLeap’s pricing, please leave it in the comment section below.
PayLeap Complaints & Service | A+
As of this review, PayLeap has no recent complaints on the usual forums and consumer protection websites. Our research shows that the vast majority of PayLeap’s merchants are satisfied with the company’s services, and there are no obvious issues with the company. PayLeap offers phone support, online chat, and an FAQ section on its website.
PayLeap BBB Report | A
As of this review, PayLeap is not accredited with the Better Business Bureau (BBB). The BBB is reporting an “A“ rating for the company with two complaints filed in the last 36 months. Of the complaints, one is due to problems with service and one regarding billing and collection. Both complaints were resolved, but the resolution left the merchant dissatisfied despite what the BBB determined to be a good faith effort by PayLeap.
Overall, PayLeap scores well in our review due to its very low complaint total and its competitive pricing. The company could improve its overall rating by offering more transparency regarding the transactions fees it lists on its website. Otherwise, PayLeap has very few merchant complaints and offers month-to-month contracts with no early termination fees–which is ideal for most small businesses.
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