Note: As of 2020, Bambora became part of Worldline. The Bambora brand appears to be phased out as of 2022, as their website now redirects to that of Worldline. please refer to our Worldline review for current information.
Bambora Overview
Bambora is a merchant account provider based in British Columbia, Canada, that specializes in online payment processing. According to the company’s website, Bambora services more than 450,000 customers in 65 countries worldwide. The company also offers automated payments for recurring billing. Originally known as Beanstream, the company was acquired in October 2015 and rebranded to Bambora sometime in 2017. In July 2017, Ingenico acquired Bambora. In October 2020, Worldline, a leader in the European payments industry, acquired both Ingenico and Bambora. Bambora provides U.S., Canadian, and UK merchant accounts.
Bambora Location & Ownership
Bambora is a registered ISO/MSP of Wells Fargo Bank’s Canadian branch in Toronto, Ontario, and has offices located at #200-1803 Douglas Street, #302, Victoria, BC V8T 4M1. Johan Tjärnberg is the Founder of Bambora and Daniel Nordholm is listed as the CEO.
Leadership
Customer Reviews & Sentiment
Under 10 Complaints
We are currently able to locate only a few negative Bambora reviews, which is a good indication that the company isn’t a ripoff or a scam. We have also found roughly seven Beanstream complaints, but these may not be applicable following the company’s restructuring. The Beanstream complaints cite unexpected fees, fund-holds, poor customer service, poorly designed software, excessive paperwork, and insufficient fraud prevention measures extended to UK merchants. The Bambora complaints describe poor support and difficulty signing up for service. Bambora is a rapidly growing company that operates a number of international payment services, so we would expect it to have more complaints than it does. If you have your own Bambora review to make, please do so in the comments below.
Bambora Lawsuits
We have not found any outstanding class-action lawsuits or FTC complaints filed against Bambora. Dissatisfied merchants who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations.
Bambora Customer Service Options
Overall, Bambora’s very low complaint total indicates a responsive and available customer support team. The company’s website also lists a dedicated phone line for customer support and a dedicated callback support form. We are therefore inclined to award the company an “A” in this category with the caveat that users may only have access to an FAQ section, a knowledge base, or an email ticketing support system.
Client Satisfaction Ratings
| Total Complaints | 0 |
|---|---|
| Resolved Complaints | 0 |
No Complaints
Bambora has been an accredited business with the Better Business Bureau since November 2017. As of this review, the company’s profile has been merged with that of Worldline, who holds an “A+” rating with the BBB and has 0 complaints filed against it.
An “A” Performance
Given the company’s low complaint total, we agree with the BBB’s rating at this time.
Card Processing Rates & Fees
Month-to-Month Contract
Bambora advertises month-to-month agreements through TD Bank with no early termination fees, statement fees, or monthly minimum fees, and these claims appear to be consistent with its merchant agreement, found in part below.
Bambora Pricing Plans
At the time of a previous update to this Bambora review, the company offered 2 pricing plans for merchants to choose from: “Bambora Ready” and “Bambora Advance.” Bambora Ready is intended for most small to mid-size e-commerce merchants that do not require subscription billing and charges a $49 setup fee, a $25 monthly fee, and a per-transaction fee of 2.90% plus $0.30 (2.80% plus $0.30 in Canada). Bambora Advance is intended for large and enterprise-scale businesses that require advanced fraud protection and charges a custom monthly fee with interchange-plus per-transaction rates. Both plans also charge $20 per chargeback.
However, the company’s website no longer promotes either of the aforementioned pricing plans. Instead, the company refers prospective customers to its sales staff. This implies that Bambora rates may be customized based on different factors, including a merchant’s risk, processing volume, and industry. However, this review refers to Bambora’s last available publically disclosed pricing.
Industry-Standard Pricing
We are currently unable to locate any mentions of a PCI Compliance fee in the Bambora contract. Overall, these terms aren’t too far behind the cheapest merchant account providers, and the company’s use of flat rate and interchange-plus pricing reduces the risk of misleading rate quotes by Bambora representatives.
Bottom Line
A Solid International E-Commerce Provider
Bambora rates as a reliable merchant services provider according to our standards. The company is showing very few complaints online and appears to offer competitive pricing options for both Canadian and U.S. merchants. Even when dealing with highly rated credit card processors, merchants are advised to carefully read any contract they are given and to compare the company’s pricing to top-rated e-commerce payment processors.
Bambora Rating
