Gravity Payments Review

Gravity Payments is a small merchant account provider based in Seattle, Washington. The company was founded in 2004. According to a representative of Gravity Payments, the company primarily uses First Data and Cynergy Data as its processors but services the accounts directly. Gravity Payments markets its services nationally, but most of its customers are in the state of Washington. The company made headlines when it announced that it would pay all of its salaried employees at least $70,000 per year.

Low Complaint Volume

We found about 10 negative Gravity Payments reviews, with no allegations of scamming or fraud. Common issues include fund holds, application denials, dissatisfaction with early termination fees, misleading advertising claims, and inadequate employee support. Interestingly, two complaints received identical responses from a company representative in a very short time frame, leaving the resolution status of these complaints uncertain.

Fund Hold Complaints

Complaints related to fund holds at Gravity Payments suggest that merchants with sudden significant revenue increases or those in high-risk sectors might consider looking for a top-rated high-risk merchant account instead. Despite these specific concerns, the overall low volume of complaints and the lack of a recurring theme imply that the majority of Gravity Payments clients are content with their service.

Gravity Payments Lawsuits

No major class-action lawsuits or FTC complaints have been identified against Gravity Payments. Merchants looking for amicable solutions to issues with Gravity Payments are encouraged to report them to relevant supervisory organizations.

PaymentPop Rating for Gravity Payments

Negative Feedback

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

Gravity Payments BBB Rating

As of this review, the Better Business Bureau is reporting accreditation since 2005 and an “A+” rating for Gravity Payments with 2 complaints filed in the last 36 months. Both complaints are related to billing and collection disputes and were either resolved to the dissatisfaction of the merchant or did not receive a final response from the merchant. Gravity Payments has a 5 out of 5 star rating based on 1 user reviews on the Better Business Bureau website.

At the time of our last review, Gravity Payments had also received 1 negative informal review through the BBB. The review described difficulties serving high risk merchants:

Merchants who have a similar experience may benefit from researching reasons why your application can be denied.

An “A” Rating

Given the company’s low complaint volume and resolution ratio, we agree with the BBB’s rating at this time.

Google Maps Rating for Gravity Payments

Gravity Payments has a 4 out of 5 star rating based on 49 user reviews on Google Maps.

Gravity Payments Pricing

Gravity Payments customizes contract terms, including the length and cancellation fees, to fit the specific needs of each merchant. A sample contract available shows a three-year agreement with First Data featuring an early termination fee of $495. This contract also specifies a monthly minimum fee of $35 and a flat rate pricing model of 4%. Additionally, Gravity Payments offers a PCI Compliance program at an annual cost of $85, according to its website.

Virtual Terminal and Payment Gateway Pricing

Gravity Payments offers virtual terminal and payment gateway services as part of its e-commerce solutions, though detailed pricing for these services is not publicly listed on the website. It is common for services like these to include additional charges, such as gateway fees, technical support fees, batch fees, and extra transaction rates, which are standard across e-commerce platforms.

Comparing Costs with Industry Averages

The terms outlined in Gravity Payments’ sample contract suggest pricing that may exceed industry averages, potentially making it less competitive compared to the most affordable merchant account providers. However, the flexibility in contract terms indicates that costs can vary widely, potentially offering very favorable conditions based on the merchant’s industry, business size, and duration of operation. Feedback concerning the company’s contract terms is limited but includes some dissatisfaction with the early termination fee.

Inside and Outside Sales Staff

Gravity Payments appears to hire W2-employed inside and outside sales agents to market its services, although it is possible that the company also employs independent sales reps in some cases. We are currently unable to locate any Gravity Payments merchant complaints that accuse the company’s agents of unethical conduct, but we have found one complaint from a former employee who felt that she did not receive adequate support from her employers. However, this complaint appears to be an isolated instance.

Transparent Pricing

It also appears that the company actively markets Interchange Pass-through rate pricing to all of its merchants, which is the most transparent pricing model available. As an additional point in its favor, the company does not appear to engage in deceptive advertising strategies in its official materials. However, if you suspect that Gravity Payments is charging you hidden fees, we recommend a third-party statement audit to eliminate undisclosed charges.

Gravity Payments rates as a dependable merchant services provider based on our evaluation standards. The company maintains a strong reputation with very few complaints across consumer protection sites and offers a diverse array of contract terms. We encourage merchants to carefully compare their application with their program guide to ensure they have a clear understanding of the fees involved. Even when engaging with an “A” rated provider, we recommend comparing the terms and pricing of any given contract against those of the top providers overall. This approach will enable merchants to make well-informed decisions and negotiate more favorable arrangements that best suit their business needs.