Clearwater Payments Reviews & Complaints

Name: Clearwater Payments
Item: Clearwater Payments
Rating: 5
Author: Phillip Parker

By Phillip Parker

April 10, 2024

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Note: As of 2023, the Clearwater Payments brand has been fully absorbed into DocuPhase. We will have a new profile for DocuPhase shortly. If you have any information about this situation, please email us or let us know in the comments below.

A New Venture From A Familiar Team

Founded in 2015, Clearwater Payments is a payment service provider that was originally owned and operated by former executives of Crescent Processing Company, Park Central Company, Future Payment Technologies, and Talus Pay. In fact, “Clearwater Payments” is a registered trademark of Future Payment Technologies, which could mean that the company is technically structured as a DBA of Future Payment Technologies. There is also a possibility that Clearwater Payments is associated with Merchant Processing Company, a revived version of the Crescent Processing Company website. In April 2021, automation platform DocuPhase purchased Clearwater Payments, making DocuPhase “one of the few industry players to offer end-to-end payments within the A/R and AP automation marketplace.” According to Clearwater CEO David Kesler, “This partnership allows us to not only continue that objective, but also enhances and improves our client experience with the addition of DocuPhase’s process automation and document management platform. This creates a payments hub, managing both receivables and payables. That is a powerful offering for our clients.” As of 2022, it appears that the Clearwater Payments brand has been fully absorbed into DocuPhase.

Clearwater Payments Management

The executive management team of Clearwater Payments included David Kesler (owner and CEO), Chad Smith (member of Board of Directors), Bob Wilson (Executive vice president and chief revenue officer), Bob Stephens (COO), and Sunnye Goldston (compliance officer), all of whom held the same positions at Future Payment Technologies and Talus Pay prior to December 2016. The owners also were executives at Crescent Processing Company and Park Central Company prior to operating Future Payment Technologies. Talus was purchased by a private equity firm prior to 2017, and Talus is now operated by a different ownership group separately from Clearwater Payments. This history has been included in Clearwater Payments' review because the aforementioned businesses are some of the lowest-rated processors on CPO.

Clearwater Payments Payment Processing

Following this review's initial publication, a Clearwater Payments representative contacted us to state that Clearwater Payments is not a merchant services company and does not engage in that industry in any way. Rather, the representative stated that Clearwater Payments is focused on providing third-party bill payment services to the utility, insurance, and consumer finance markets. Although billing software may be the company's primary focus, the Clearwater Payments website currently features the following language:

“Support for all Payments – Accept credit cards, debit cards, and echeck payments made over the phone, through our online interface, via mobile devices/smartphones, or by way of a live agent.”
“Instant Payments and eReceipts – Your customers can make their payments in real-time and instantly receive payment/confirmation receipts via email or text messaging.”
“Simplified Reconciliation – All prior days’ payments are delivered in ONE daily settlement report – no more reconciling from multiple sources.”

At the time of a previous update, the website also included the following language (which has since been removed):

“Multiple Payment Options – Your customers can pay their bills via credit card, debit card or ACH/echeck.”
“With Clearwater POS, accepting walk-in payments is both simple and convenient. Our robust terminal is secure, easy to use and packed with numerous features to help support the needs of your business.”
“Flexible Pricing – Convenience fee, flat rate, cost-plus, or hybrid model”

These are all payment processing services, and a merchant account will be required to accept credit cards through these services. Whether Clearwater Payments provides that merchant account, refers merchants to a Clearwater Payments partner, or requires merchants to obtain their own merchant account separately is not explained on the Clearwater Payments website. Given the fact that Clearwater Payments offers billing tools and its executive leadership team has an extensive background in merchant services, we feel it is in the interest of merchants to review this company on CPO.

Clearwater Payments Location & Ownership

Clearwater Payments is a registered ISO/MSP of Synovus Bank. As a part of DocuPhase, Dan Gaertner is the CEO of DocuPhase. While the company doesn't list its address on its website, some sources state that the company is located at 12377 Merit Dr #1530, Dallas, Texas.

Clearwater Payments payment processing — **Clearwater Payments appears to provide a variety of payment processing services**

Clearwater Payments Customer Reviews

Here's What Their Clients Say

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

Clean Complaint Record

Our investigation finds no negative Clearwater Payments reviews at present, nor any indications of fraudulent activity. While the absence of complaints might be partly attributed to Clearwater Payments being a relatively new brand, it could also reflect positive changes implemented by the company’s executive team, evolving from their experiences at Talus.

Clearwater Payments Lawsuits

There are no known class-action lawsuits or FTC complaints against Clearwater Payments. Merchants seeking non-litigious resolutions with the company may find it useful to report their concerns to the relevant supervisory organizations.

Clearwater Payments Customer Service Options

Clearwater Payments promotes a “customer-centric” approach with a 2-tier support model, offering each merchant a dedicated account manager. Additionally, they provide a contact phone number and a customer support form on their website. Despite these features, they fall short of the level expected from top-rated payment processors known for outstanding customer service.

A single Clearwater Payments customer service number is available:

(800) 784-5320 – Toll-Free General Customer Service

While Clearwater Payments does not offer a dedicated email support address, they do provide a support form on their website.

Clearwater Payments is awarded an “A” rating based on its clean complaint record. However, it’s worth noting that, given the management team’s history, there is a potential for negative reviews to surface in the future.

Clearwater Payments Online Ratings

Here's How They Rate Online

No Profile Available

The Better Business Bureau does not maintain a profile for Clearwater Payments at this time. We therefore will not factor a BBB rating into this review.

Clearwater Payments Fees, Rates & Costs

A Closer Look at The Contract

Cost & Fees Summary
Swiped Rate	1.00% - 4.99%
Keyed-in Rate	1.00% - 4.99%
Virtual Terminal Rate	1.00% - 4.99%
Payment Gateway Fee	Undisclosed
Early Termination Fee	Undisclosed
PCI Compliance Fee	Undisclosed
Equipment Lease	Undisclosed

Variable Contract Terms

Currently, there’s no available information about the standard Clearwater Payments contract. The company doesn’t disclose its pricing or documentation on its website, and there are no Clearwater Payments complaints detailing specific aspects of its contract. Considering its history, it’s probable that Clearwater Payments offers an automatically renewing contract of up to four years, possibly accompanied by a $495 early termination fee and a four-year, non-cancellable equipment lease. However, there’s a possibility that Clearwater has revamped its previous pricing approach to offer something more competitive with the cheapest merchant accounts available.

Virtual Terminal and Payment Gateway Pricing

In addition to its in-store payment processing services, Clearwater Payments also advertises its virtual terminal and payment gateway services on its website. However, pricing details for these services are not disclosed. Additional Clearwater Payments rates and fees, such as gateway fees, technical support fees, batch fees, and additional transaction rates, are typically applicable to these e-commerce services.

No Red Flags

Similar to the previous section of this review, we’ll assign Clearwater Payments an “A” rating due to the absence of any merchant complaints. However, it’s important to note that Clearwater’s executive team has previously scored poorly in this category. If you have specific knowledge regarding the standard Clearwater Payments contract, including any PCI compliance fees or monthly minimum fees, feel free to share it in the comment section below this review.

Clearwater Payments e-commerce services — **Clearwater Payments offers e-commerce services including virtual terminals and access to payment gateways**

Clearwater Payments Employee Reviews & Sales Tacitcs

Should You Work For Them?

Jobs & Marketing Summary
Uses Independent Resellers	No
Promotes Deceptive Rate Quotes	No
Discloses All Important Terms	No

Inside Sales Team

Clearwater Payments appears to market its products via online advertising and referrals, and there is no evidence at this time that the company utilizes independent sales agents or telemarketing. This marks a dramatic divergence from the sales practices at Future Payment Technologies and Talus Payments, which accumulated dozens of complaints about aggressive telemarketing commission-only sales agents. It may be possible that Clearwater also engages in these tactics and simply has yet to attract complaints under its new brand, but we have found no evidence that the company is actively recruiting outside sales agents at this time.

No Misleading Quotes

The Clearwater Payments website does not list any misleading rates or guarantees, and we have not found any online advertisements from Clearwater that use “teaser” rates. We will therefore assign the company an “A” rating for now with a strong advisory that this company’s executive team has previously operated “D” and “F” rated providers in this category. If you suspect that Clearwater Payments is overcharging you, you can double-check your monthly bill with a third-party statement audit.

Our Clearwater Payments Review Summary

Our Final Thoughts

A Solid Option for Most Businesses

Clearwater Payments rates as a reliable merchant account provider at this time due to a total absence of merchant feedback about the company. The history of its management team suggests that Clearwater is destined to see its rating drop, but we have assigned it an “A” for now to allow for the possibility that the company has made a clean break from its predecessors. We encourage merchants to describe their own experiences with Clearwater Payments below so that we can accordingly adjust or maintain this company’s rating. Merchants are always encouraged to compare Clearwater Payments to top-rated merchant services providers before signing up for service.

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About The Author

Phillip Parker

In the late 2000s, as a broke college student struggling to make ends meet, I was contacted by a merchant services company after uploading my resume to a job listings website. This company promised substantial commissions and ongoing residual income for simply persuading businesses to accept credit card payments. It seemed straightforward enough—after all, what business doesn’t need to process credit card payments? Following a phone interview with a persuasive “sales director,” I found myself embarking on what I believed would be an easy job that would significantly boost my bank account with reliable monthly income and large sales commissions. However, the lessons I learned would profoundly change my life in ways I could never have imagined.

After completing my sales training, I hit the ground running, eager to make sales. This broke college student was determined to improve his financial situation! My first attempt at a cold call, with no prior appointment, ended with a burly man in his 50s yelling at me to leave, claiming he had been “totally robbed” by someone like me before. As I hastily exited, puzzled and intimidated by his reaction, I couldn’t help but wonder what he meant. Throughout the day, I encountered similar hostility from other business owners, all expressing disdain for the industry I had been so excited to join that morning. Confused and curious, I decided to shift my approach from selling to listening.

I quickly uncovered that the merchant services sector was riddled with unethical practices, including hidden fees, deceptive marketing, fine-print traps, and much more. It dawned on me that I had nearly been tricked by a dubious company into selling overpriced services under contracts with long-term commitments, all without being fully aware of what I was promoting. Outraged, I resigned from that company but learned that there were indeed ethical credit card processing companies that treated their clients fairly. Over the next four years, I worked for one such company, assisting hundreds of businesses in securing cost-effective processing solutions. Yet, I also met many more who had been misled and trapped in onerous service agreements. Determined to help people steer clear of these unscrupulous providers, I launched this website in my spare time, dedicating myself to researching and sharing my findings on every merchant account provider I could investigate.

Gradually, more and more business owners began to discover my articles. As word spread, search engines started to rank my content highly, amplifying its reach. My efforts were making a difference! Eventually, the website garnered enough traffic to enable me to leave my job and focus on it full-time, a journey that has now spanned over a decade. This path has not been without its challenges; unscrupulous company owners have tried to intimidate and sue me into silence on several occasions. Yet, I have stood firm against each threat. Here I am, continuing to publish reviews and articles, hoping to safeguard others from the pitfalls of the credit card processing industry.

If you believe in my mission and wish to contribute, please share my articles on your websites and social media. Thank you for visiting!

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