Is Connected.co a Good Processor for High Risk Merchants?

Founded in 1998, Connected.co is a merchant account provider that specializes in serving high-risk and hard-to-place business types. The company advertises that it can assist medical marijuana vendors with payment processing, but it does not explicitly state whether it can process credit card payment payments for marijuana and CBD merchants.

Payment Processing

processes all major debit and credit cards for most business types.

Payment Gateway

A payment gateway is a component of online payment processing, acting as the intermediary between a customer’s payment method and the merchant’s bank account.

ACH Processing

ACH (Automated Clearing House) processing offers businesses a secure and cost-effective way to handle electronic payments directly from customers’ bank accounts.

Chargeback Protection

Chargeback protection is a service for businesses that want to safeguard against the financial risks associated with disputed or fraudulent transactions. When customers dispute a charge, it can lead to a chargeback, resulting in the reversal of the payment.

No Public Complaints

Our extensive search reveals that there are currently no Connected.co complaints alleging the company as a ripoff or a scam. This suggests that Connected.co is proactive in customer support, particularly noteworthy as high-risk processors often face more challenges in this area than standard-risk processors. Consistently maintaining a complaint-free record is a significant achievement in this industry.

Connected.co Lawsuits

We have diligently searched and found no evidence of outstanding class-action lawsuits or FTC complaints against Connected.co. For merchants considering alternative dispute resolution methods, we recommend exploring options like reporting to relevant supervisory organizations as a non-litigious approach.

Connected.co Customer Service Options

The Connected.co website offers general contact methods including phone and email, although it does not feature a dedicated customer support number. Despite this, customer service accessibility remains a strong point for the company.

PaymentPop Rating for Connected.co

Negative Feedback

There are no negative reviews published about Connected.co on the PaymentPop website.

Positive Feedback

Connected.co keeps everything in one place, which makes my life way easier. The setup was quick, the design is clean, and I don’t have to juggle five different tools anymore. It’s honestly saved me so much time.

Connected.co BBB Rating

Connected.co has an “A+” rating with the Better Business Bureau and has been BBB accredited since 2016. The company has not received any complaints in the past 3 years. It also has not received any informal reviews.

An “A” Performance

Given the company’s clear complaint record, we agree with the BBB’s rating at this time. Merchants should note, however, that there are good reasons to be skeptical of the BBB’s rating system.

Connected.co Contract Terms

Currently, specific details about Connected.co’s standard contract are not publicly disclosed. The company appears to tailor its pricing and contract terms to the unique needs of each merchant, factoring in business type, geographic location, and transaction history. Given Connected.co’s diverse clientele, it’s possible that equipment leasing options might be offered to meet specific operational requirements.

High Risk, High Fees

Operating within high-risk sectors often entails higher rates and stringent contract terms due to the elevated risk of chargebacks. Additionally, Connected.co may implement cash reserves as a protective measure against fraud. Merchants affiliated with high-risk industries should anticipate more rigorous contract stipulations with Connected.co.

No Red Flags

The lack of complaints regarding Connected.co’s contract terms leads to an “A” rating in this area, although this assessment is made without direct access to specific contract details. While Connected.co caters to high-risk merchants, its pricing structure may not match the affordability of the most cost-effective merchant accounts in the market.

Business owners in search of competitive merchant services should consider our curated list of the best merchant accounts.

Inside/Outside Sales Team

Connected.co appears to rely on a combination of independent resellers and in-house staff to market its services. There is no evidence at this time indicating that the company employs a large team of independent sales agents, and we are unable to locate any Connected.co reviews that report unethical behavior by the company’s sales staff. This compares favorably to our list ofbest credit card processors.

No Misleading Quotes

Connected.co does not appear to engage in any deceptive advertising strategies in its official materials. If you suspect that you are being charged undisclosed Connected.co fees, we recommend seeking a third-party statement audit to eliminate hidden charges.

Based on all the available information, Connected.co ranks as a reliable merchant services provider. Although specific details about the company’s sales tactics and contract terms are somewhat scarce, its unblemished complaint record speaks to its commitment to customer satisfaction. However, even when dealing with highly rated companies like Connected.co, we advise merchants to thoroughly scrutinize any contract terms they are presented with. They should also compare the pricing with that of top-rated high-risk processors to secure the best possible terms for their business. Taking this proactive approach will empower merchants to make a well-informed decision that aligns with their unique requirements while minimizing unnecessary risks.