GMPayments Review: Fees, Comparisons, Complaints & Lawsuits
Note: As of August 2021, the GMPayments website appears to be no longer functioning. There appears to be a new website for a GMPayments, but it is bare-bones and we can find no connection between it and this GMPayments. As of now, we will consider GMPayments to be out of business. If you have any information to the contrary, please let us know in the comments below.
International E-Commerce Processing for High-Risk
GMPayments, also known as GMPayment or Global Merchant Payment, is a Hong Kong-based merchant account provider that specializes in online dating, online gambling, travel merchant accounts, and e-commerce solutions to other high-risk merchants. The company is licensed in Asia but claims to be partnered with acquiring banks in Europe, the U.S., and Australia. It does not list the names of these banks.
GMPayments Location and Ownership
According to LinkedIn, Leanne Y. is the CEO and founder of GMPayments, which was founded in 2014. GMPayments is headquartered at the Hover Industrial Building, Floor 23, 26 Kwai Cheong Rd, Kwai Chung, Hong Kong, China.
GMPayments Review Table of Contents
- Costs & Contract: GMPayments appears to offer per transaction or volume-based terms and conditions that depend on each business’s risk profile and processing history.
- Complaints & Service: GMPayments complaints number fewer than 10 on public complaints forums.
- BBB Rating: GMPayments does not have a profile with the Better Business Bureau at this time.
- Sales & Marketing: GMPayments does not appear to hire independent sales agents and has not received any complaints about its sales practices.
GMPayments Customer Reviews
Here's What Their Clients Say
| Item | Result |
|---|---|
| Total Online Complaints | <10 |
| Live Customer Support | No |
| Most Common Complaint | N/A |
No Public Complaints
We are unable to locate any negative GMPayments reviews, and there is no evidence that the company scams or rips off its merchants. However, there are certain inherent drawbacks to receiving customer support from a company based in Hong Kong. For one thing, the time difference and language barrier between the U.S. and China could result in delayed or difficult communication. For another, GMPayments likely will not fall under the supervision of any U.S.-based consumer protection groups. This means that dissatisfied merchants may struggle to obtain assistance from a third party when resolving a dispute with GMPayments. Despite these potential issues, the company’s clean complaint record suggests that it effectively manages customer disputes for now.
GMPayments Lawsuits
We have not found any outstanding class-action lawsuits or FTC complaints filed against GMPayments. Dissatisfied merchants who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations.
GMPayments Support Options
GMPayments does not list a phone number or support email address on its website, but it may provide live contact information to its users.
GMPayments Online Ratings
Here's How They Rate Online
No Dedicated Profile
The Better Business Bureau does not maintain a profile for GMPayments at this time. Accordingly, we will not factor a BBB rating into this review.
GMPayments Fees, Rates & Costs
A Closer Look at The Contract
| Item | Result | >
|---|---|
| General E-Commerce Rate | 1.50% - 3.50% |
| Low-Risk Rate | 2.50% - 4.50% |
| MasterCard EU Credit Rate | 1.8% + €0.25 |
| MasterCard Non-EU Credit Rate | 2.8% + €0.25 |
| Visa EU Credit Rate | 1.8% + €0.25 |
| Visa Non-EU Credit Rate | 2.8% + €0.25 |
| American Express Credit Rate | 2.8% + €0.25 |
| Early Termination Fee | 3.50% - 7.00% |
| PCI Compliance Fee | Undisclosed |
| Equipment Lease Cost | N/A |
Variable Contract Terms
Aside from a few rates previously displayed on its website, GMPayments does not disclose any of its contract terms to the public. Given the company’s high-risk focus and international profile, it’s probable that GMPayments fees and rates are customized for each individual merchant according to that merchant’s business type, processing history, and business size. Rates are also affected by whether a merchant chooses a per-transaction or volume-based pricing model.
The company does disclose the rates it assesses on credit card transactions. MasterCards are charged 1.8% plus €0.25 if the card is based in the European Union (EU). Non-EU Mastercards are charged a rate of 2.8% plus €0.25. EU/Non-EU Visa cards are also charged 1.8% plus €0.25 /2.8% plus €0.25. Alternatively, American Express Cards are charged a flat rate of €0.25 + 1.8%
GMPayments appears to strictly provide e-commerce merchant accounts, meaning that GMPayments users should not have to worry about long-term, non-cancellable equipment leases. However, it’s entirely possible that the company will enforce multiyear processing agreements, early termination fees, monthly minimum fees, PCI compliance fees, or significant cash reserves for certain merchants.
No Contract Complaints
We cannot find any negative GMPayments reviews related to their contract terms or pricing at this time, so we will assume that most of its users are satisfied with the rates and fees they receive. However, merchants are strongly encouraged to request and review all relevant documentation before signing up for service. If you have any specific knowledge of the standard GMPayments contract, please share that information in the comment section below this GMPayments review.
GMPayments Employee Reviews & Sales Tacitcs
Should You Work For Them?
| Item | Result |
|---|---|
| Employs Independent Resellers | No |
| Advertises Deceptive Rates | No |
| Discloses All Important Terms | No |
Inside Sales Team
GMPayments appears to primarily market itself via online advertising and referral partnerships. There is no evidence that the company employs a large team of independent sales agents, and it’s unclear whether it even maintains a physical office in the United States. The company’s website is written in English, but its phrasing and spelling choices are unorthodox at times. This is to be expected with a foreign company, but it may deter some merchants who are worried that their customer service representatives will not be proficient in English. There are no GMPayments complaints filed against GMPayments regarding its sales team at this time.
GMPayments Rate Quotes
At the time of our last update, three GMPayments rates are listed on its website: 1.5% to 3.5% per transaction for general e-commerce, 2.5% to 4.5% per transaction for low-risk business types, and 3.5% to 7% for high-risk business types. There is no reason to believe that these price ranges are misleading, but merchants should generally not assume that they will qualify for the lowest listed rate. High-risk merchants especially should be wary of low rate quotes, as most high-risk e-commerce businesses will have to pay a rate of at least 5% per transaction through any provider. If you are paying higher rates than you expected through GMPayments, you can renegotiate your contract terms with a third-party statement audit.
Our GMPayments Review Summary
Our Final Thoughts
A Solid Option for Very High-Risk Industries
GMPayments receives a solid overall grade in each individual category of this review, but it should be noted that we have very little information about the company’s pricing and service. GMPayments appears to be best suited for very high-risk business types that are interested in offshore merchant accounts to sell to international customers. Additionally, with its website being down as of this review, it is unclear what the status of the company is and it doesn’t seem possible to sign up with them currently. Domestic merchants who are interested in more competitive rates, accessible customer service, or in-store solutions will be better served by a top-rated high-risk merchant account provider.
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Charlie Loretta
I just had to drop a quick note about my experience with GMPayments, and I couldn’t be happier! As a small business owner, I was in dire need of a reliable and efficient payment solution, and GMPayments delivered beyond my expectations. Their user-friendly platform made it a breeze to set up and manage payments, saving me valuable time and effort. The security features gave me peace of mind, knowing that my customers’ data is well-protected. Not to mention, their customer support team was prompt and helpful whenever I had questions. GMPayments has truly streamlined my payment processes and elevated my business to a whole new level. I highly recommend GMPayments to any entrepreneur seeking a top-notch payment service.