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Is ClearPay Financial Solutions a Legit Payment Processor?

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All mentions of rate and fee costs are estimations based on publicly available information and client feedback. Actual costs may vary based on a variety of factors unique to your business.

ClearPay Financial Solutions

Rating
A
5/5
full starfull starfull starfull starfull star

Pros and Cons of ClearPay Financial Solutions

Pros

Diverse payment solutions
Secure transactions
Flexible contract terms
Transparent pricing
A+ BBB rating

Cons

Potential cancellation fees
Possible equipment leasing
No international services
Unclear contract terms
Potential hidden fees

Overview

In this review of ClearPay Financial Solutions, we take a closer look at the company’s payment processing services, including credit card processing, point-of-sale systems, and e-commerce options. We’ll review their pricing, contract terms, and customer feedback to give you a clear picture of what they offer. We’ll also examine fee transparency, the quality of their customer support, and overall client satisfaction. By the end, you’ll know whether ClearPay Financial Solutions is the right fit for your business’s payment needs.

About ClearPay Financial Solutions

Screen Capture of ClearPay Financial Solutions
ClearPay Financial Solutions Homepage

Founded in 2011, ClearPay Financial Solutions is a merchant account provider that serves a wide variety of business types. The company appears to be a reseller of Global Payments products. In 2012, ClearPay entered into a strategic partnership with SecureNet in which ClearPay agreed to operate as a reseller of SecureNet’s e-commerce suite. It is unclear whether this partnership is still active.

Products & Merchant Services

Payment Processing

ClearPay Financial Solutions processes all major debit and credit cards for most business types. Their services include in-person and e-commerce payments.

Customer Reviews & Sentiment

Low Complaint Total

Currently, we have found only a few negative ClearPay reviews, and these complaints do not suggest any fraudulent activity by the company. Most of the grievances are related to sales issues, and it’s worth noting that ClearPay Financial Services has addressed them satisfactorily. Considering the company’s size and tenure, the overall number of complaints is relatively low. If you have your experience with ClearPay Financial Services to share, whether positive or negative, please feel free to do so in the comments section below.

ClearPay Financial Solutions Lawsuits and Fines

No outstanding class-action lawsuits or FTC complaints have been found against ClearPay Finance Solutions. Merchants dissatisfied with their experience and seeking a non-litigious resolution should consider reporting their concerns to relevant supervisory organizations.

ClearPay Financial Solutions Customer Service Options

ClearPay offers various customer service phone numbers on its website for merchants in need of live support. While these lines handle most complaints internally, they may not fully meet the standards set by top-rated merchant accounts for excellent customer service.

Industry Scores & User Ratings

Online Ratings Summary
PaymentPop1
BBB Rating5
Average Rating3

PaymentPop Rating for ClearPay

Negative Feedback

I would give a zero rating if I could. I was diagnosed with skin cancer and had one instalment of £15 left on my account. As you can imagine it was a very worrying and stressful time for me and my family. I had to have multiple surgeries on my face and multiple bouts of chemotherapy. I almost lost my life. I eventually paid the £15 plus £12 late fees once i was in remission and getting back on my feet. The company has closed my account and treated me like I was deliberately trying to evade payment. Absolutely appalling customer service.

Positive Feedback

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

ClearPay Financial Solutions BBB Rating

ClearPay Financial Solutions currently has an “A+” rating with the Better Business Bureau and is not accredited. ClearPay’s BBB profile has received 1 complaint in the past 36 months. The 1 complaint was resolved to the dissatisfaction of the merchant or received no final reply. ClearPay Financial Solutions has a 5 out of 5 star rating based on 5 user reviews on the Better Business Bureau website.

What Merchants Say

ClearPay has received no informal reviews on its BBB profile. A previous complaint described difficulty with sales practices that sound like slamming:

These lowlifes are making cold calls to phones listed as Do Not Call. The person who called here could not explain who she was, why she was calling, or what her company did. I got the idea that she was offering payday loans to people with bad credit. I told her what she could do with her “program”, as she called it.

Aggressive sales tactics like constant phone calls can be harassing. Merchants in this situation should understand how to shut down sales calls.

An “A” Performance

In light of the company’s complaint and review totals, we agree with the BBB’s rating of an “A” at this time.

Processing Rates & Fees

Variable Contract Terms

Public details about ClearPay Financial Services’ standard contracts are sparse, and the company does not offer specific pricing information on its website. It is noted as a reseller of Global Payments, suggesting that its pricing and fee structure may be similar. However, Global Payments’ rates are known to vary based on factors like business size and transaction volume. According to Global Payments’ 2019 terms and conditions, there is mention of an early termination fee of $500 per location or liquidated damages, a $299 annual maintenance fee, a $10 monthly fee, and non-cancellable equipment leases.

Virtual Terminal and Payment Gateway Pricing

ClearPay Financial Services also offers virtual terminal and payment gateway services, though specific pricing details are not disclosed on their website. It’s likely that additional rates and fees, such as gateway fees, technical support fees, batch fees, and transaction rates, may be applicable to these e-commerce services.

Few Contract Complaints

The relative absence of complaints regarding ClearPay Financial Services’ contract terms indicates a general client satisfaction. Nonetheless, without specific contract details, it’s challenging to determine if ClearPay’s pricing is as competitive as the most cost-effective merchant accounts. If you have details about ClearPay’s standard contracts, your input in the comment section below would be valuable for this review.

We also recommend merchants to explore our selection of the premier merchant account providers.

Employee Reviews & Sales Practices

Outside Sales Team

ClearPay appears to primarily market its products and services through an independent sales agent program. The use of independently contracted agents is typically linked to higher complaint totals in the credit card processing industry, but we can find only a few ClearPay reviews related to misconduct by an independent sales agent.

This compares favorably to our list ofbest credit card processors.

Resolving Sales Complaints

Two ClearPay Financial Solutions complaints were filed with the Better Business Bureau at the time of our previous update. The first ClearPay Financial Solutions complaint alleges that the sales agent scolded the merchant for not purchasing a POS system from that agent, effectively diminishing the agent’s commission. ClearPay resolved the situation by releasing the merchant from the contract and providing a refund. The second ClearPay Financial Solutions complaint states that a sales agent provided inadequate assistance with equipment setup and then began billing the merchant for services long before the merchant had agreed to activate the account. ClearPay responded to this complaint in a similarly comprehensive fashion by refunding the improperly charged amounts, offering a month-to-month contract to the merchant, and further reducing the merchant’s rates.

Recent Complaint Outcomes

A thirdClearPay Financial Solutions complaint, which was filed in the comment section below this review, claimed that the company’s $50 setup fee was not properly disclosed. A company representative has stated that there is a setup fee from some processors that the company works with if equipment is placed for free, but it is not a start-up fee from ClearPay. The company’s most recent complaint in the comment section below this review has gone unaddressed.

No Red Flags

Although complaints of this nature are typical of companies that employ independent sales agents, the positive outcomes to these issues reflect positively on ClearPay’s sales standards. We have therefore assigned ClearPay an “A” rating in this category. As an additional point in the company’s favor, we cannot find any evidence of misleading rate quotes or unrealistic guarantees in ClearPay’s marketing materials. If you suspect that ClearPay is overcharging you, you can double-check your pricing with a third-party statement audit.

ClearPay Financial Solutions Competitors

Compare ClearPay Financial Solutions to competitors that earned top marks.

Bottom Line

ClearPay Financial Solutions rates as a reliable merchant services provider according to all available information. Although the company has received a few isolated complaints related to its sales practices, ClearPay resolved them effectively. Our rating may change once more is known about the company’s contract terms.

Merchants are encouraged to compare ClearPay’s pricing with that of top-rated credit card processors to secure the best possible deal. This comparison will ensure that businesses receive the most competitive terms and pricing tailored to their unique needs.

Read Actual User Reviews

All user reviews have been moved to our partner, PaymentPop.com

Contact ClearPay Financial Solutions

Contact & Customer Support
CEOJim Visoky
Headquarters10000 W Innovation Dr #160, Milwaukee, WI 53226
Toll-Free Customer Support(800) 306-8457
Websiteclearpayfs.com