ClearPay Financial Solutions Review: Fees, Complaints & Lawsuits

ClearPay Financial Solutions Logo
5/5
full star idicating a 5 out of 5 star rating full star idicating a 5 out of 5 star rating full star idicating a 5 out of 5 star rating full star idicating a 5 out of 5 star rating full star idicating a 5 out of 5 star rating

How did they treat you? ▼

Partnered With Global Payments and SecureNet

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.

ClearPay Financial Solutions 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.

ClearPay Financial Solutions Location and Ownership

ClearPay Financial Solutions is a registered ISO/MSP for Wells Fargo Bank, N.A., Walnut Creek, California, and Central Bank of St. Louis, St. Louis, Missouri. Jim Visoky is the CEO of ClearPay, which is headquartered at 10000 Innovation Dr. Ste 160, Milwaukee, Wisconsin 53226.

ClearPay Financial Solutions Review Table of Contents

  • Costs & Contract: ClearPay Financial Solutions appears to offer variable contract terms based on…
  • Complaints & Service: ClearPay Financial Solutions complaints number fewer than 10 on…
  • BBB Rating: ClearPay Financial Solutions has an “A+” rating and has received 1 complaint and 0 reviews in the past 3 years. The company is not…
  • Sales & Marketing: ClearPay Financial Solutions appears to hire independent sales agents and has…

ClearPay Financial Solutions Customer Reviews

Here's What Their Clients Say

Customer Reviews Summary
Total Online Complaints <10
Live Customer Support Yes
Most Common Complaint N/A

Low Complaint Total

We are currently able to locate only a few negative ClearPay reviews, and these complaints do not accuse the company of scamming merchants. As noted above, most of these ClearPay Financial Services complaints were related to sales issues and received satisfactory responses from the company. Overall, the company’s complaint total is low for its size and time in business. If you have your own ClearPay Financial Services review to make, please do so in the comment section below.

ClearPay Financial Solutions Lawsuits and Fines

We have not found any outstanding class-action lawsuits or FTC complaints filed against ClearPay Finance Solutions. Dissatisfied merchants who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations.

ClearPay Financial Solutions Customer Service Options

ClearPay provides a large number of customer service phone numbers on its website for merchants who require live support. These lines appear to resolve the vast majority of complaints in-house, but they do not quite meet the standard set by the top-rated merchant accounts for great customer service.

We have located a single ClearPay Financial Solutions customer service phone number:

(800) 306-8457 – Toll-Free Customer Support

ClearPay Financial Solutions also offers a customer service email address at [email protected]

ClearPay Financial Solutions Online Ratings

Here's How They Rate Online

Online Ratings Summary
Total BBB Complaints 1
Response Rate 100%
Complaints Resolved 0

Clean Complaint Record

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.

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.

ClearPay Financial Solutions Fees, Rates & Costs

A Closer Look at The Contract

Cost & Fees Summary
Cancellation Penalties Undisclosed
Monthly & Annual Fees Yes
Processing Rates 1.00% - 4.99%

Variable Contract Terms

There is very little publicly available information about the standard ClearPay Financial Services contract at this time. The company does not provide pricing specifics on its website or disclose the identity of its back-end credit card processor.

The company is an apparent reseller of Global Payments so it is likely that its pricing and fee structure resembles theirs. Even then, Global Payments’ rates vary from merchant to merchant depending on the size of the business, its transaction volume, and other factors. However, the company’s 2019 terms and conditions do disclose an early termination fee of $500 per location or liquidated damages, a $299 annual maintenance fee, a $10 monthly fee, and a non-cancellable equipment lease.

Virtual Terminal and Payment Gateway Pricing

In addition to its storefront payment processing services, ClearPay Financial Services also dedicates a portion of its website to advertising its virtual terminal and payment gateway. However, pricing is not disclosed on either of those services. Additional ClearPay Financial Services rates and fees, including gateway fees, technical support fees, batch fees, and additional transaction rates likely apply to these e-commerce services.

Few Contract Complaints

Given the general lack of ClearPay Financial Services complaints that describe dissatisfaction with the company’s contract terms, we will assume that most of ClearPay’s customers are satisfied with their pricing and ClearPay Financial Services fees. However, it does not appear that ClearPay’s standard contract terms are competitive with those offered by the cheapest merchant accounts. If you have any specific knowledge of the standard ClearPay contract, please share that information in the comment section below this ClearPay Financial Services review.

We also encourage merchants to check out our list of the providers of the best merchant accounts.

ClearPay Financial Solutions Employee Reviews & Sales Tacitcs

Should You Work For Them?

Jobs & Marketing Summary
Employs Independent Resellers Yes
Advertises Deceptive Rates No
Discloses All Important Terms No

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 of best 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.

Our ClearPay Financial Solutions Review Summary

Our Final Thoughts

A Solid Option for Most Business Types

ClearPay Financial Solutions rates as a reliable merchant services provider according to all available information. The company has received a couple of isolated complaints related to its sales practices, but these complaints were resolved very successfully by ClearPay. Our rating may be subject to change once more is known about the company’s contract terms. For now, merchants are encouraged to compare ClearPay’s pricing to that offered by top-rated credit card processors in order to obtain the best possible deal.

If you found this article helpful, please share it!

Testimonials & Complaints

How Did ClearPay Financial Solutions Treat You?

5 User Reviews

Tell Us How They Treated You

Sharing your experience influences our rating and helps other business owners make informed decisions. Please take a moment to tell us if they are serving you well. Your email address will never be published, shared or sold. We only use it to authenticate that you are a real person and, if you select the option for it, to let you know if someone replies to your comment. Required fields are marked *

Comments must contain details about your experience. Please do not use ALL CAPS. Self-promotion, marketing content, or contact information of any kind will not be published. By submitting a comment, you are agreeing to our Comment Policy

Copyright

Copyright © 2024 CardPaymentOptions.com, Inc. (Digital Fingerprint: 0d38c6720f0d78a701b74d58653af608). Getting paid to re-write this page? Click here to earn a reward.

Any unauthorized copying and reproduction of the content of this page, including all meta data and computer code, is strictly prohibited. While the information in the above article is believed to be accurate as of its publish date, the author and publisher make no representation or warranties with respect to the accuracy, applicability, fitness, or completeness of the contents. The author and publisher shall in no event be held liable to any party for any direct, indirect, punitive, special, incidental or other consequential damages arising directly or indirectly from any use of this material, which is provided “as is,” and without warranties. Any and all use of trade names and/or marks are for identification purposes only and shall not be construed as a claim of affiliation, or otherwise, with CardPaymentOptions.com, Inc. ("CPO") in any form. The sole purpose of the material presented herein is to alert, educate, and inform readers. It is not intended as legal or financial advice. We may earn revenue if you obtain services from a provider that we recommend. See this page to learn how we support our operations.