A Wholly-owned Subsidiary of PaymentCloud
Founded in 2005 and headquartered in Sherman Oaks, California, Express Merchant Accounts is a merchant account provider that specializes in solutions for retail, e-commerce, and high risk businesses. According to the company’s website, it is a wholly-owned subsidiary of PaymentCloud, Inc. In turn, there is some evidence that PaymentCloud is a reseller of Electronic Merchant Systems. While PaymentCloud specializes in serving high risk merchants, Express Merchant Accounts offers its services to a wider array of businesses. In addition to high risk merchants, the company provides a focus on traditional and quick service restaurants. Express Merchant’s website also advertises Apple Pay integration, terminal reprogramming, ACH and eCheck processing, as well as POS solutions through Groovv POS.
A Point of Confusion
According to the California Secretary of State, Express Merchants was dissolved as a corporation in 2017. However, the company’s website still remains active. The phone number listed on the company’s website diverts calls to PaymentCloud, and the company’s website shares the same headquartered address of 15165 Ventura Blvd #245, Sherman Oaks, California 91403. making it possible that Express Merchant Solutions operates as a DBA of its parent company.
Multiple Partner Banks
Like PaymentCloud, Express Merchant Accounts acquiring bank is not listed on its website, possibly because high risk credit card processors tend to work with multiple acquirers. It is worth noting that Electronic Merchant Systems, who PaymentCloud and thus Express Merchant Services may resell the services off, is a registered ISO/MSP of BMO Harris Bank, Chesapeake Bank, Esquire Bank, and Merrick Bank PaymentCloud’s CEO is Shawn Silver, the former vice president of high risk at iPayment. According to the California Secretary of State, Michael Allen Shay was the president of Express Merchant Services.
Express Merchant Accounts Review Table of Contents
- Costs & Contract: Express Merchant Accounts offers a contract of variable length that may or may not include an early termination fee.
- Complaints & Service: Express Merchant Accounts has received fewer than 10 public complaints.
- BBB Rating: Express Merchant Accounts does not have a profile with the Better Business Bureau at this time.
- Sales & Marketing: Express Merchant Accounts does not appear to hire independent sales agents but has not received any complaints about its sales practices.
- Rates & Fees: How Merchants Got The Best Rates With Express Merchant Accounts.