Granite Payment Alliance Review

Clean Complaint Record

At the time of this review, we are unable to locate any Granite Payment Alliance complaints that accuse the company of being a scam or a ripoff. This may indicate that the company employs a responsive and well-trained customer support staff, or it might be possible that any complaints are redirected to Global Payments or TSYS rather than the online profiles of Granite Payment Alliance.

Granite Payment Alliance Lawsuits

In October 2018, Granite Payment Alliance filed a lawsuit against its former CEO and a number of former employees on the basis of stealing trade secrets to start a competing credit card processor, 1Point Merchant Solutions. Granite Payment Alliance accused its original owner, Wayne Keddy, of conspiring with both customer service specialists and sales representatives to access sensitive customer information, revenue sharing agreements, and documents containing Granite Payment Alliance’s pricing, contracts, and activity with banks and merchants. According to the suit, the company’s confidential files were then saved to removable storage drives that Keddy and his co-conspirators were able to access and reference while creating 1Point, and then used to undersell identical services. In August 2020, the case was dismissed and closed.

Granite Payment Alliance Customer Service Options

At this time, it is unclear whether the company outsources its customer service or employs an in-house staff. The Granite Payment Alliance website lists a dedicated support phone number, SMS number, and an email address, but its support options are not enough to qualify it as a top-rated merchant account provider for customer service.

No BBB Complaints

Granite Payment Alliance has been an accredited business of the Better Business Bureau since 2010 and currently maintains an “A+” rating. As of this review, 0 complaints have been registered with the BBB against the company. The company has also received 0 informal reviews on its BBB profile, but it is important to note that these reviews are not verified by the BBB.

An “A” Performance

Since it is our philosophy that “A+” ratings should be reserved for companies with 0 complaints, we agree with the BBB’s rating in this instance. However, merchants should be aware that there are good reasons to be skeptical of the BBB’s rating system.

Contract Pricing

As of this update, there is very little publicly available information about the standard Granite Payment Alliance contract. The company is a sub-ISO of TriSource Solutions, which means it is likely that Granite Payment Alliance resells the contracts offered by TriSource. According to TriSource’s Agent Program Overview, the sales agents of that company can offer a standard agreement of three years with an early termination fee set at the agent’s discretion, an annual fee of at least $10, a monthly service fee of $4.95, a monthly PCI compliance fee of $4.95, and a $25 monthly minimum.

These figures reflect both the buy rates for agents and the amounts recommended by TriSource, but they appear to be optional or adjustable in many cases. For instance, the document mentions that agents are capable of offering month-to-month agreements with no early termination fees and interchange-plus pricing, which is a favorable contract for merchants.

Virtual Terminal and Payment Gateway Pricing

In addition to its storefront payment processing services, Granite Payment Alliance also dedicates a portion of its website to advertising its virtual terminal and payment gateway services through Authorize.Net. A typical agreement with Authorize.Net includes a rate of 2.90% plus $0.30, a $25 monthly gateway fee, and a $0.10 batch fee. However, Granite State Payment Alliance reserves the right to alter these terms and conditions as a reseller.

No Contract Complaints

TriSource utilizes the processing networks of Global Payments and TSYS. Many of the rates listed in the Agent Program Overview appear to be negotiable depending on how much the agent intends to make in commissions. Given the lack of complaints about Granite Payment Alliance’s contract terms, we are not inclined to lower the company’s grade too dramatically despite the possibility of average rates and fees. However, we have also seen no clear indication that Granite Payment Alliance pricing competes with the cheapest merchant accounts.

If you have any knowledge of the standard Granite Payment Alliance contract, please share that information in the comment section of this review. See the TriSource Agent Program Overview.

An Above-Average Option

Granite Payment Alliance rates as an above-average merchant services provider by our standards. The company’s apparent affiliation with TriSource, Global Payments, and TSYS means that it offers a wide range of possible contract terms, but the complete lack of public complaints filed against the company seems to indicate that most of its clients are satisfied with the service they receive. Even when dealing with highly rated credit card processors, merchants are advised to strongly negotiate contract terms and to compare its pricing to the top overall providers.