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(866) 615-5157Company Overview
Founded in 2007, Dharma Merchant Services is a merchant account provider based in San Francisco, California. A certified green eco-friendly business, the company advertises that it donates a percentage of its net profits to non-profit organizations. Dharma Merchant Services is a low-cost payment processing option for the healthcare industry, including for hospitals, EMS, rehab clinics, walk-in clinics, occupational therapists, speech therapists, and veterinarians. The company prominently advertises interchange-plus pricing and Level 2 and 3 processing.
Article Summary
Before we dive in, here’s a short summary of what we’ll cover:
- Dharma Merchant Services’ various payment processing services.
- Dharma offers payments for regular businesses as well as non-profits and B2B businesses.
- The company has received few complaints.
- Dharma’s contract appears very competitive.
Dharma Merchant Services Payment Processing
Dharma Merchant Services has recently partnered with Clover to provide mobile phone processing and tablet-based POS options for merchants. Dharma is offering the Clover Mini station for a purchase price of $499 and a monthly fee of $10, which includes Clover’s PRO software set. The company also resells the flagship Clover POS solution at $1,349 per device, which includes a full cash drawer, built-in fingerprint scanner, and high-speed printer. For mobile EMV payments, Dharma is offering Clover Flex. Dharma’s preferred EMV terminal solution is the FD-130 terminal, which allows EMV processing, Chip-and-PIN acceptance, tip adjustment, and PIN bypass.
Point of Sale Systems
The company offers point-of-sale systems tailored for both retail and restaurant environments. These systems allow businesses to manage sales, inventory, and customer information.
Virtual Terminal
Dharma Merchant Services’ virtual terminal enables merchants to process credit card payments without the need for physical equipment. This is particularly suitable for phone or mail order transactions.
Mobile Payments
With their mobile payment solutions, Dharma Merchant Services allows businesses to accept payments through mobile devices, giving flexibility to merchants who operate in various locations.
Merchant Cash Advances
Dharma Merchant Services offers merchant cash advances, providing immediate funding to businesses based on their credit card sales.
E-Commerce Solutions
Dharma provides e-commerce solutions designed to make online sales seamless. This includes integration with popular shopping carts and secure payment gateway options.
Non-Profit Discounts
The company has a specific focus on offering services to non-profit organizations, providing them with special rates and tailored solutions to suit their unique needs.
B2B Processing
Dharma Merchant Services also specializes in Business-to-Business (B2B) processing, offering specific solutions to facilitate payments between businesses.
Reduced Rates For Restaurants
Dharma also recently lowered its rates for restaurants, bars, and quick-service restaurants. In order to meet the needs of these low-average-ticket businesses, Dharma is now offering a rate of interchange plus 0.15% plus $0.07 to this particular industry type.
Location & Ownership
Dharma Merchant Services is a registered ISO/MSP with Synovus Bank, Columbus, Georgia. The company itself is headquartered at 3739 Balboa Street #105 San Francisco, CA 94121. Jeff Marcous is the co-founder and CEO of Dharma Merchant Services.
Dharma Merchant Services Pros and Cons
pros
- Few Complaints
- Contract Appears Competitive
cons
- Few
Table of Contents
- Costs & Contract: Offers a month-to-month contract with…
- Complaints & Service: Has received fewer than…
- BBB Rating: Has an “A+” rating with the Better Business Bureau and has…
- Sales & Marketing: Does not hire independent sales agents and has not…
Dharma Merchant Services Customer Complaints & Reviews
Here's What Users Think
Complaint Summary
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Total Online Complaints
<10
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Live Customer Support
Yes
|
Most Common Complaint
N/A
|
|
Recent Lawsuits
No
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Low Complaint Volume
We are currently only able to find one Dharma Merchant Services review that accuses the company of being a ripoff or a scam. There are only a handful of complaints to be found against the company across all consumer protection websites, and most of these complaints either state that their applications were rejected by Dharma or vaguely describe “bad” experiences. Nearly all of the available online reviews about Dharma are positive testimonials. If you have your own Dharma Merchant Services review to make, please do so in the comments below.
Dharma Merchant Services Lawsuits and Fines
We have not found any outstanding class-action lawsuits or FTC complaints filed against Dharma Merchant Services. Dissatisfied clients who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations.
Dharma Merchant Services Customer Support
This generally spotless complaint record is likely a product of the company’s transparent marketing and rate structure, but an effective customer support staff might also play a large role. Dharma’s website provides an email form and designated local and toll-free customer support phone numbers. These channels appear to do a great job of handling issues even when compared with top-rated credit card processors for customer service.
Dharma Merchant Services Customer Service Number
- (866) 615-5157 – Toll-Free Customer Support
Other Support Options
- Customer support email addresses
- [email protected] – Support
- [email protected] – Sales
- [email protected] – Other
Dharma Merchant Services BBB Rating and Report
Our Better Business Bureau Profile Assessment
BBB Summary
|
BBB Reports
2
|
No BBB Complaints
Dharma Merchant Services has been an accredited business of the Better Business Bureau since 2010 and has an “A+” rating as of this review. The company has had 2 complaints through the BBB in the past 36 months. 1 complaint was resolved to the satisfaction of the client. The other complaint was resolved to the dissatisfaction of the client or received no final communication.
An “A” Performance Overall
Considering Dharma’s clean complaint record, we agree with the BBB’s rating at this time. Readers should note, however, that there are good reasons to view the BBB’s information with skepticism.
Dharma Merchant Services Fees and Rates
A Closer Look at the Contract
Cost Summary
|
Cancellation Penalties
Yes
|
Monthly & Annual Fees
Yes
|
Processing Rates
Interchange +
|
|
Equipment Leasing
No
|
Fully Transparent Rates
Dharma Merchant Services advertises interchange-plus pricing (interchange plus 0.15% plus $0.07 per transaction for in-store payments, interchange plus 0.20% plus $0.10 per transaction for e-commerce payments, and interchange plus 0.15% plus $0.07 for restaurants) and no long-term service agreements. The company claims to charge a $20 monthly fee that includes PCI compliance, and there is a $25 account closure fee upon termination of service.
Virtual Terminal and Payment Gateway Pricing
In addition to its storefront payment processing services, Dharma Merchant Services also dedicates a portion of its website to advertising its virtual terminal and payment gateway services. The company’s service, called MX merchant, charged a rate of interchange plus 0.20% plus $0.10. According to the company, the platform is free to use, meaning no gateway fee is imposed. However, additional fees for other features of the platform exist. The platform also charges ACH processing for $25 per month, B2B processing for $20 per month, recurring billing for $10 per month, and an account updater for $25 per month. Additional rates and fees, including technical support fees, batch fees, and additional transaction rates may apply to these e-commerce services.
Level 2 and Level 3 Processing Services
In addition to its traditional merchant services, Dharma Merchant Services also advertises that it provides Level 2 and Level 3 processing for B2B and B2G transactions. Level 2 and Level 3 processing rely upon different interchange rates than traditional consumer credit transactions. Accommodating those rates requires different payment processing technology from a merchant account provider to transmit the amount of data required to facilitate the transactions. These services are reserved for B2B and B2G purchases.
Ideal For High-Volume Businesses
Dharma is best suited for businesses processing over $10,000 per month, so the company will refer most merchants processing below that to another provider. The company offers especially low rates for enterprise-level processors, specifically offering discounted rates for retail merchants processing over $100,000 per month.
No Contract Complaints
Interchange-plus pricing is the most transparent pricing model available, and the company’s additional fees appear to be well below industry averages. These figures, coupled with the general absence of complaints regarding the standard Dharma Merchant Services contract, merit an “A” rating according to our criteria.
We also encourage readers to check out our list of the providers of the best merchant accounts.
Dharma Merchant Services Jobs and Employment
Hiring Standards and Ethical Marketing Assessment
Key Points
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Uses Independent Resellers
No
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Telemarketing
No
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Misleading Marketing
No
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Discloses All Important Terms
Yes
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Complete Pricing Disclosure
Dharma Merchant Services appears to utilize its client network, its website, and community outreach efforts to market its services. There is no indication that the company partners with independent sales entities at this time. Additionally, the Dharma Merchant Services website actively promotes interchange-plus pricing and lists the company’s full fee schedule for anyone to view.
This compares favorably to our list of best credit card processors.
No Red Flags
We cannot find any negative Dharma Merchant Services reviews regarding the company’s sales approach at this time; we therefore award the company an “A” rating in this category. That said, it is always a wise idea to get a professional analysis of your contract with a third-party statement audit.
Dharma Merchant Services Review Summary
Our Final Thoughts and Opinions
According to all available information, Dharma Merchant Services rates as an exemplary credit card processing provider. The company appears to offer transparent pricing and excellent customer service, and its eco-friendly and non-profit initiatives are sure to be appealing to many businesses. Readers are encouraged to read their contracts carefully even when dealing with a highly rated payment processor.
If you found this article helpful, please share it!
Priya Parmar MD
This is a terrible company that lies. Not only do they lie, they lie about your payments due. They are not transparent about how they deposit money and when they deposit to your account.
STAY AWAY
SHANNON HIGHFIELD
I would not recommend Dharma Merchant services as they will say anything to get your account and then when you have any customer charge-back issues they immediately begin holding your funds with no notice or snail mail notice so you have no time to respond! They will send you confirmation that your account is good and then continue holding the funds without explanation. They do not care what effect it has on customers or their business! Very deceptive practices STAY AWAY!
This post will help: Best Merchant Accounts for Legal Services
-Phillip
Pam Elyea
We are very happy with Dharma. The company is easy to work with, it doesn’t demand that we learn how their business works, but rather they accommodate us.
We’re saving lots of money in fees, and I am grateful.
Mark Klug
What a mistake. The worst technical support I have ever dealt with.