FreedomPay Review: Is It Right for Your Business?

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FreedomPay

Rating
A
5/5
full starfull starfull starfull starfull star

Pros and Cons of FreedomPay

Pros

Adaptive payment system
Real-time transactions
Fast, safe payments
24/7 dedicated support
High conversion rates

Cons

Steep learning curve
Potential higher costs
Contract term ambiguity
Transparency concerns
Limited online reviews

Overview

In this review of FreedomPay, we take a closer look at the company’s credit card processing services. Their offerings include point-of-sale systems, mobile payment options, and e-commerce features designed for a variety of businesses. We’ll highlight which businesses may benefit most from these services. We’ll also review client and customer feedback to reveal common trends and concerns. In addition, we’ll cover pricing, contract terms, and included services. By the end, you’ll know whether FreedomPay is the right fit for your payment processing needs.

About FreedomPay

Screen Capture of FreedomPay Homepage
FreedomPay Homepage

Founded in 2000, FreedomPay is a merchant account provider that specializes in P2PE-enabled payment processing technology. The company is partnered with Bank of America, Heartland, Chase, Vantiv, Elavon, First Data (now Fiserv), Global Payments, Mercury, WorldPay, and TSYS for its payment processing, and it is specifically focused on serving contract food services, financial services, gaming, higher education, hospitality, and retail industries. In 2022, FreedomPay announced a number of partnerships, including with Prommt for branded payments, Virdee for contactless pay, and Euronet Worldwide Inc.

Products & Merchant Services

Payment Processing

FreedomPay handles major debit and credit card processing for a variety of business types. Although their website lacks detailed information about their specific services, they claim to have significant processing capabilities, asserting that they process “the majority of transactions in Las Vegas.”

Customer Reviews & Sentiment

No Public Complaints

Our search did not reveal any significant FreedomPay reviews suggesting the company is a ripoff or a scam. This could imply that FreedomPay is dedicated to providing effective customer support. If you have experiences or FreedomPay customer reviews to share, please contribute them in the comments below.

FreedomPay Lawsuits and Fines

FreedomPay is involved in a 2019 lawsuit filed by Canters Deli Las Vegas, LLC, concerning an alleged breach of contract related to service transition. For merchants preferring non-litigious resolutions, consider reporting issues to relevant supervisory organizations.

FreedomPay Customer Service Options

The FreedomPay website provides an email contact form for customer inquiries, though it lacks a specified customer support hotline. This might be a consideration for customers requiring immediate or direct assistance.

Industry Scores & User Ratings

Online Ratings Summary
PaymentPop5
BBB RatingN/A

PaymentPop Rating for FreedomPay

Negative Feedback

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

Positive Feedback

FreedomPay was easy to plug into our existing setup which saved us a ton of time. It works well with the tools we already use, and the interface is clean and easy to get around. No stress, no hidden fees.

FreedomPay BBB Rating

FreedomPay has an “A+” rating with the Better Business Bureau and is not BBB accredited. The company has received 3 complaints in the past 3 years. All 3 complaints were resolved to the satisfaction of the merchant.

What Merchants Say

FreedomPay has also received 1 informal negative review. The review describes issues with equipment and poor customer service:

their kiosks are defective. I added money to the machine to fund my card for food purchases. Made two purchases after the money was loaded onto my card. upon returning for lunch to make another food purchase on the same day i was informed I have a negative balance and the money that was added to the card is gone. did a bit more research and it turns out the money was removed from the card balance 3 minutes after the money was loaded into the machine. was informed from freedom pay, the cash was ejected minutes after i added it to the machine. No one seems to want to take responsibility for the mechanical error stating i need to contact the restaurant who in turn informs me there’s nothing they can do. I question the companies kiosks reliability to not eject cash minutes after inserting into the machine leaving it for the passerby to take.

The company has responded to the complaint explaining what measures were taken to resolve the issue.

An “A” Performance

Given the company’s relatively clean complaint record and responsiveness, 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.

Processing Rates & Fees

FreedomPay Contract Terms

There is no publicly available information about the standard FreedomPay contract at this time. It is likely that the company customizes its pricing and terms according to each merchant’s business type, location, and processing history. The company’s wide range of preferred merchant types means that it could offer long-term equipment leases for certain merchants’ needs. We encourage merchants to check out our list of the providers of the best merchant services.

No Red Flags

The total absence of FreedomPay complaints about the company’s contract terms merits an “A” in this category, but it should be noted that we are assigning this grade without any verified knowledge of specific pricing. It is difficult to assess at this time whether FreedomPay’s contract terms are competitive with the cheapest merchant accounts.

Employee Reviews & Sales Practices

Inside Sales Team

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

No Misleading Quotes

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

FreedomPay Competitors

Compare FreedomPay to competitors that earned top marks.

Bottom Line

FreedomPay is recognized as a dependable merchant services provider based on current information. The company primarily specializes in offering supplementary software for payment processing, and its clean complaint record is a reassuring indicator of quality service. Even with companies rated highly by our standards, we encourage merchants to thoroughly scrutinize any contract terms presented. Compare these terms and pricing against those of top-rated merchant account providers to ensure you’re getting the most advantageous deal. A careful review will help safeguard your business against unexpected challenges and ensure that your chosen provider meets your specific financial needs and objectives.

Read Actual User Reviews

All user reviews have been moved to our partner, PaymentPop.com

Contact FreedomPay

Contact & Customer Support
Founder and CEOTom Durovsik
Headquarters2929 Walnut St Floor 14, Philadelphia, Pennsylvania 19104
Toll-Free Technical Support(888) 495-2446
Additional Support ChannelsOnline Contact Form and Live Chat
Websitecorporate.freedompay.com