Custom Contract Terms

There is very little specific information available about the standard eMerchantBroker contract at this time. Multiple online reviews indicate that the company partners with a number of processors including First Data, iPayment, and North American Bancard to provide its services, meaning that its contract terms could vary greatly from merchant to merchant. In addition, the company’s willingness to work with high risk businesses likely creates a need for even greater flexibility with its rates.

Contract lengths are reported to range from 1 to 3 years, each with an automatic renewal clause that vests at the conclusion of the initial term. Early termination fees of up to $295 for 1 year contracts and upwards of $595 for 3 year contracts have also been reported. Merchants can expect to receive a wide variety of contract terms through eMerchantBroker and are encouraged to work with a sales rep they trust. Merchants reviews reflect rates of 3.00% plus $0.15 and 4.00% plus $0.25 for swiped and keyed-in transactions, respectively.

Can Serve MMJ and CBD Merchants

One unique feature of eMerchantBroker is that the company is one of the few credit card processors that can provide credit card processing for marijuana dispensaries and CBD vendors in the U.S. eMerchantBroker’s medical marijuana merchant account enables dispensaries to accept Visa, MasterCard, Discover, and Amex payments in-store using a PC-compatible card swiper or a tablet and printer leased from eMerchantBroker. eMerchantBroker’s system is a hybrid offshore/domestic merchant account that functions as a normal merchant account from the dispensary’s perspective. This is subject to change as federal and state regulations surrounding marijuana continue to shift.

Merchants Are Satisfied

Given the lack of complaints about the company’s contract terms at this time, we are awarding eMerchantBroker an “A” in this category. If you have had any experience with the standard eMerchantBroker merchant agreement (including details about any possible early termination fees or PCI Compliance fees), please share that information in the comment section below this review.

Low Complaint Total

We have located fewer than 10 negative eMerchantBroker reviews online, and a few of these accuse the company of being a scam or a ripoff. Most complainants report that eMerchantBroker required them to submit what they considered to be an excessive amount of paperwork during signup, that the company could not approve them for certain high-risk products, or that they did not understand why the company denied their application at the end of the sign-up process. A few complaints also mention frustration when dealing with eMerchantBroker’s customer service and tech support teams. These complaints are very common for providers that deal with high risk businesses, and it does not appear that eMerchantBroker is acting maliciously with respect to high risk applicants.

Proactive Responses

In an older review, filed with the Business Consumer Alliance, the merchant claims to have been excessively billed as the result of an NSF fee. eMerchantBroker responded to this complaint and appeared to resolve it successfully. There are generally positive reviews of eMerchantBroker on other consumer protection websites, indicating that the company provides quality customer service to its merchants.

eMerchantBroker Lawsuits

A class-action lawsuit filed in 2017 accuses the company and First American Merchant Services of violating the Telephone Consumer Protection Act. Parties in the lawsuit allege that they were subjected to telemarketing calls despite being on a do not call register. Each plaintiff sought damages of $2,000. However, the allegations made in this lawsuit do not reflect on the company’s merchant services outside of its apparent sales practices. Dissatisfied merchants who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations.

eMerchantBroker Customer Support Options

eMerchantBroker lists dedicated phone and email contact information for customer support. Given the fact that the company is showing only a few complaints on internet forums, we have given it an “A” in this section but must exclude it from our list of the top merchant account providers for customer service.

Only 3 Complaints

eMerchantBroker.com has been accredited by the Better Business Bureau since 2012 and currently shows an “A+” rating based on  3 complaints in the last 36 months. 2 complaints deal with a problem with a product or service problems and 1 addresses a billing or collection dispute. 1 was successfully resolved while 2 were answered but did not receive a final response from the merchant.

What Merchants Say

eMerchantBroker has also received 55 informal reviews from merchants, with 52 of them positive in tone and 3 which are negative in tone. The most recent negative review was filed back in March of 2019:

I have tried multiple times to get a response from E Merchant Broker and they do not return calls. The sales team are great at getting you through the door but I have consistently had problems with getting customer service on the phone when it comes to fixing issues that have to do with my business. Its been a joke and just getting a callback for cancellation is ridiculous also. I am demanding a callback asap as you are charging me monthly for service!!!!

Excellent customer service is a hallmark of a top merchant account provider. Merchants who wish to avoid situations like these should make sure they choose a company with a track record of attentive customer support.

An “A” Performance Overall

Given the company’s complaint total and resolution ratio, we agree with the BBB’s rating.

No Sales Complaints

eMerchantBroker.com utilizes a network of ISOs and independent sales agents to market its services. This hiring practice is common within the payment processing industry and usually results in complaints among merchants. In the case of eMerchantBroker, however, there are no complaints alleging misrepresentation or nondisclosure by sales reps, indicating that the company maintains fairly rigorous oversight of its independent agents.

Incomplete Rate Quotes

The eMerchantBroker homepage quotes rates “as low as 2.99%” for high risk businesses. This rate quote is incomplete, as it only discloses the company’s “Qualified” rates for these account types without mentioning the higher “Mid-Qualified” and “Non-Qualified” rates that merchants are likely to pay. However, the company clearly notes that this is only a qualified rate, and it clearly states that mid- and non-qualified rates will be higher. This is especially true for merchants who require TMF/MATCH merchant accounts or bad business credit merchant accounts.

An Quality Reputation

eMerchantBroker scores well in this category due to the overall lack of complaints about its sales practices.