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FreedomPay Review

Phillip Parker

I built this website to expose unethical credit card processors who charge excessive fees and trap unsuspecting people into absurd contracts. I support it by teaching business owners how to stop wasting money on processing fees. Contact me if you would like help permanently cutting your fees.

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FreedomPay Overview

FreedomPay Logo
5/5

Industries Served

  • Retail
  • Contract food services
  • Gaming
  • Finance
  • Higher education
  • Hospitality

Products & Services Offered

5/5
FreedomPay Logo

Industries Served

  • Retail
  • Contract food services
  • Gaming
  • Finance
  • Higher education
  • Hospitality

Products & Services Offered

*Earning your trust is our highest priority. We live by the same values we expect to see from the companies we review: Honesty, transparency and respect. With this in mind we wish to inform you that we may in some cases, but not all, receive referral income if you choose a provider that we recommend. This income does not influence our strict editorial standards or our recommendations. Our mission is to provide you with the best information regardless of generating income.

A Full-Service Merchant Account Provider

Founded in 2000, FreedomPay (freedompay.com) 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, Global Payments, Mercury, WorldPay, and TSYS for its payment processing, and it is specifically focused on serving the contract food services, financial services, gaming, higher education, hospitality, and retail industries.

FreedomPay Location and Ownership

FreedomPay is headquartered at 2929 Walnut St Floor 14, Philadelphia, Pennsylvania 19104, and does not list its acquiring bank. Tom Durovsik is the founder and CEO of FreedomPay.

FreedomPay Review Table of Contents

  • Costs & Contract: FreedomPay offers variable contract terms depending on each merchant’s business type, size, and processing history.
  • Complaints & Service: FreedomPay has received fewer than 10 public complaints.
  • BBB Rating: FreedomPay currently has an “A+” rating with the Better Business Bureau and has received one complaint in the last three years.
  • Sales & Marketing: FreedomPay does not hire independent sales agents and has not received any complaints about its sales practices.
  • Rates & Fees: How Merchants Got The Best Rates With FreedomPay

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Find out how to successfully dispute customer chargebacks. You can contest chargebacks by supplying evidence that counters the customer’s chargeback claim and then submitting the following evidence to your merchant account provider. Learn more about how to fight chargebacks in this article.

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FreedomPay Rates, Fees, and Costs

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.

No Red Flags

The total absence of 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.

FreedomPay Rates, Fees, and Costs

Key Points

Swiped Rate
1.00% - 4.99%
Keyed-In Rate
1.00% - 4.99%
Early Termination Fee
Variable
PCI Compliance Fee
Variable
Equipment Lease Terms
Variable
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FreedomPay Complaints & Customer Reviews

No Public Complaints

We are currently unable to locate any FreedomPay complaints that accuse the company of being a ripoff or a scam. This seems to indicate that FreedomPay employs a proactive and available customer support team.

FreedomPay Lawsuits

We have not found any outstanding class-action lawsuits or FTC complaints filed against FreedomPay. Dissatisfied merchants who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations.

FreedomPay Customer Support Options

The FreedomPay website an email contact form for customer support but does not list a dedicated customer support number. We will award FreedomPay an “A” rating in this category, but the company’s current customer support options do not qualify it as a top-rated customer service processor.

FreedomPay Complaints & Customer Reviews

Key Points

Total Online Complaints

<10

Live Customer Support

No

Most Common Complaint

N/A

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FreedomPay BBB Rating Summary

Under 10 Complaints

FreedomPay has an “A+” rating with the Better Business Bureau and is not abbr title=”Better Business Bureau”>BBB accredited. The company has received one complaint in the past three years. This complaint was related to a product or service problem and either was resolved to the merchant’s dissatisfaction or did not receive a final response from the merchant.

An “A” Performance

Given the company’s relatively clean 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.

FreedomPay BBB Rating Summary

Key Points

Product & Service Complaints

1

Billing & Collection Complaints

0

Advertising & Sales Complaints

0

Guarantee & Warranty Complaints

0

Delivery Complaints

0

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Truth In Marketing & Advertising

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 complaints that report unethical behavior by the company’s sales team.

No Misleading Quotes

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

Sales & Marketing Example

Truth In Marketing & Advertising

Key Points

Employs Independent Resellers

No

Advertises Deceptive Rates

No

Discloses All Important Terms

No

Our Opinion Of FreedomPay

FreedomPay Logo

A Reliable Option for Most Merchants

According to all available information, FreedomPay rates as a dependable merchant services provider. The company is primarily focused on providing supplementary software for payment processing, but its clean complaint record is a very positive sign. Even when dealing with companies that rate highly by our standards, we urge merchants to thoroughly examine the terms of any contract they are given and to compare its pricing to top-rated merchant account providers.

Phillip Parker - Creator of CardPaymentOptions.com
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Why I'm Qualified to Write About Credit Card Processing

I’m a small business owner who previously worked in the credit card processing industry. I started this blog in 2009 to help other business owners by exposing credit card processors that engage in unethical marketing, rate and fee trickery, and fine-print-contract schemes. Over the last decade, I’ve reviewed hundreds of merchant services providers which has helped to educate over 5 million businesses on the nuances of credit and debit card acceptance. I’ve appeared in the New York Times, Los Angeles Times, Inc. Magazine and a host of other publications to offer insight on the subject of card acceptance. 

We offer merchant account and credit card processing consultation for the following needs:
  • Selecting the right credit card processing services for your business.
  • Reducing credit card processing fees with your current merchant account provider.
  • Negotiating credit card processing fees when changing merchant accounts.
  • Strategies for reducing and recovering funding holds and chargebacks.
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    O% Markup + $0.08
    Per Transaction
    The highest rated processor on CPO. Month-to-month, no contract, no PCI Compliance fees, no batch fees, no statement fees, no downgrade fees, no junk fees of any kind.
    See Who It Is
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