Clearent May Have Overcharged You
If you accepted credit cards through Clearent or any other credit card processing company between 2017 and 2019, recent changes to the law may entitle you to refunds of certain debit card and credit card processing errors and overcharges. See this post to find out if your were among the businesses affected and to learn how you can get your money back.
A Proprietary Payment Software Provider
Headquartered in Clayton, Missouri, Clearent is a merchant account provider that offers its own proprietary payment gateway and virtual terminal. Clearent claims to be a direct processor, but TSYS provides the after-hours customer support for Clearent’s credit card processing equipment. Founded in 2005, the company offers services for ISOs, financial institutions, and merchants.
Clearent Acquisitions and Mergers
In January 2017, Clearent acquired Payment Alliance International‘s merchant services division, which was a primarily high risk portfolio focused on firearm merchant accounts. In March 2018, a private equity firm named Advent International acquired Clearent and merged it with an independent software vendor named FieldEdge. In July 2018, Clearent acquired a POS provider for the dry cleaning industry named Compassmax. The Compassmax acquisition shored up Clearent’s offerings for dry cleaning merchants by pairing Compassmax’s software with previously acquired assets from SPOT Business Systems.
Clearent Location and Ownership
Clearent LLC is an MSP of Central Bank of St. Louis, Missouri, and Wells Fargo Bank, N.A., Concord, California. The company is headquartered at 222 South Central Avenue, Suite 700, Clayton, Missouri 63105. Dan Geraty is the president and CEO of Clearent.
Clearent Review Table of Contents
- Costs & Contract: Clearent offers a three-year contract with an early termination fee of $395.
- Complaints & Service: Clearent has received more than 15 public complaints.
- BBB Rating: Clearent has an “A+” rating and has received 18 complaints and 4 reviews in the last 3 years. The company has been accredited by the Better Business Bureau Since 2010.
- Sales & Marketing: Clearent appears to hire independent sales representatives and has received some merchant complaints about its sales practices.
- Rates & Fees: How Merchants Got The Best Rates With Clearent
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