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FreedomPay Review

Phillip Parker
Phillip Parker

I was tired of watching unethical merchant services companies take advantage of unsuspecting business owners, so I built this website and wrote hundreds of reviews to expose their shady business practices.

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FreedomPay Overview

We take great pride in providing one of the only objective an unbiased merchant account review websites on the internet. To support this enormous responsibility we earn some of our revenue through affiliate fees and advertising. These revenues in no way influence our ratings or reviews. Learn more about our monetization policies here. 

Rating

5/5
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Website
(888) 495-2446

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Rating:
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(888) 495-2446

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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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FreedomPay Rates, Fees, and Costs

FreedomPay Rates, Fees, and Costs

Cost Summary

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

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.

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FreedomPay BBB Rating Summary

BBB Summary

Product & Service Complaints 0
Billing & Collection Complaints 0
Advertising & Sales Complaints 0
Guarantee & Warranty Complaints 0
Delivery Complaints 0

No Complaints

FreedomPay has an “A+” rating with the Better Business Bureau and is not BBB accredited. The company has received zero complaints in the past three years. At the time of our last update, the company had one complaint relating 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.

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.

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Truth In Marketing & Advertising

Key Points

Employs Independent Resellers No
Advertises Deceptive Rates No
Discloses All Important Terms No

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.

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Sales & Marketing Example

Our Opinion Of FreedomPay

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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.

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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. 

I 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.

 

Schedule a call with me today!

 

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