YapStone Overall Rating
Last Updated: February 3, 2014
YapStone Inc. (yapstone.com) is a global epayment merchant account provider offering cloud-based web and mobile payment processing. There is some evidence that the company is an ISO of Chase Paymentech. Formerly known as Paymerica, YapStone was founded in 1999 and primarily serves the housing and non-profit industries. YapStone offers multiple variations on its RentPayment processing platform, including VacationRentPayment, HolidayRentPayment, StorageRentPayment, InnPayment, DuesPayment, and ParishPay. The company’s payment platform offers real-time reporting and acceptance for electronic checks and debit/credit cards. Yapstone is located at 2033 N. Main St., Walnut Creek, California 94596 and is a registered ISO/MSP of Wells Fargo Bank NA in Walnut Creek, California.
YapStone Sales & Marketing Tactics | A
YapStone appears to market RentPayment through a combination of telemarketing and inside sales agents. At this time, YapStone does not appear to employ independent sales agents. We are also unable to locate any negative YapStone reviews that mention the company’s sales team at this time, although we did find one complaint alleging deceptive rate representation by the company when it went by the name Paymerica. RentPayment’s website does not appear to engage in any deceptive advertising tactics, but we have located some complaints from RentPayment customers expressing confusion about fee structure and how to schedule payments through the service, which occasionally led to overcharges. These complainants do not appear to have been merchants, so it is unlikely that merchants are experiencing similar difficulties understanding their agreements.
YapStone Costs & Contract Terms | A
As of this update, the standard YapStone contract terms are unclear. The company is likely reselling Chase Paymentech contracts, but this is unverified at the present. We are unable to locate any RentPayment complaints that specifically complain about the contract terms at this time, indicating that most of the company’s clients are satisfied with their rates and fees. One old complaint filed against Paymerica mentions an undisclosed two-year service length with an early termination fee of $250, but these terms may have changed since then. If you have any knowledge of the standard YapStone merchant agreement (including any possible termination fees or PCI Compliance fees), please leave that information in the comment section of this review.
YapStone Complaints & Service | B
As of this update, we are unable to locate any YapStone complaints that accuse the company of being a ripoff or a scam. Most available complaints about the company have been posted by renters regarding its RentPayment service. These complainants express confusion over the company’s policies or irritation with having to pay fees in order to use a credit card to pay their rent. These issues should not affect rental industry merchants beyond the possibility that their tenants might be dissatisfied with the service. Additionally, we have located numerous complaints by current and former YapStone employees who describe a taxing work schedule and low workplace morale. Like the renter complaints, these issues may only indirectly affect merchants, as unhappy employees tend to provide subpar service. Overall, though, YapStone has a fairly low complaint rate and does not appear to provide poor service to merchants.
YapStone BBB Report | B+ (CPO Adjusted)
YapStone Inc. is not an accredited business with the Better Business Bureau (BBB). As of this review, the company’s profile appears to have been combined with that of RentPayment and shows an “A+” rating. The company has had 23 complaints filed against it in the last 36 months. Of the complaints, two were filed regarding an advertising and sales issue, nine were in relation to problems with products or services, and the remaining 12 stemmed from billing and collection disputes. YapStone successfully resolved 20 of the 23 complaints, but three complainants report being dissatisfied with the company’s response despite what the BBB determines was a good-faith effort by YapStone. Given the information available, we have slightly adjusted the BBB’s rating to a “B+.”
YapStone rates as a reliable merchant account provider according to our system. We do not currently have a great deal of specific information about the company’s contract terms, but YapStone and its RentPayment platform are showing a low-to-moderate amount of public complaints online. Many of these complaints are only loosely tied to the company’s merchant services offerings. Even when dealing with a highly rated company, merchants are advised to carefully examine all contract terms presented to them.
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