A division of the INKAS Group, INKAS Payments is a merchant account provider headquartered in Toronto, Canada. Founded in 1993, INKAS was originally a manufacturer of safes. vaults. and armored vehicles. Afterward, the company expanded into financial services with INKAS Finance Corporation in 1998 following the deregulation of the ATM/POS industry.
INKAS Payments Payment Processing
INKAS Payments processes all major credit cards and debit cards, offering POS systems, mobile payments, and online payments. It offers swipers and POS terminals for in-store purchases as well as smartphone and mobile terminals that can accept everything from credit cards to gift cards to even PayPal. They particularly push their free rate-analysis service and their price-matching option.
Online Payment Gateway
With their online payment gateway service, INKAS Payments empowers businesses to process payments securely over the internet. This service enables merchants to accept online payments through their websites, providing customers with a convenient and streamlined checkout experience.
Mobile Payment Solutions
INKAS Payments offers mobile payment solutions that allow businesses to accept payments on the go. Their mobile payment services enable merchants to use smartphones or tablets as portable point-of-sale (POS) systems, facilitating transactions at various locations or events.
The virtual terminal service by INKAS Payments allows businesses to process credit card transactions manually, typically for mail or telephone orders. Merchants can securely input customer payment information into a virtual terminal interface, making it easier to process transactions without a physical card present.
INKAS Payments offers seamless integration solutions for e-commerce platforms. By integrating their payment processing services with popular online shopping carts and platforms, businesses can optimize their online sales channels, streamline checkout processes, and enhance customer satisfaction.
For businesses operating on a global scale, INKAS Payments provides multi-currency processing capabilities. This feature enables merchants to accept payments in various currencies, facilitating international transactions and catering to a broader customer base.
Location & Ownership
INKAS is a reseller and registered ISO/MSP of the US Bank National Association and the Canadian branch of Elavon and is a registered ISO of Wells Fargo Bank, Toronto, ON, Canada. The company is headquartered at 3605 Weston Rd, North York, Ontario M9L 1V7, Canada. David Khazanski is the founder and president while David Wiseman is CEO of INKAS Group.
|Various terminal options
|Complaints of hidden fees
|Accepts major cards
|Undisclosed pricing details
|Offers POS systems
|Long-term lease risks
|Mobile payments supported
|Online payments available
|Misleading sales calls
INKAS Payments Customer Reviews
Here's What Their Clients Say
|Total Online Complaints
|Live Customer Support
|Most Common Complaint
Moderate Complaint Total
We have located over 30 negative INKAS Payments reviews on this and other consumer protection websites, some of which accuse the company of being a scam or a ripoff. By far the most common complaint from clients has to do with the company’s telemarketing tactics. According to some complaints we’ve found, INKAS would call repeatedly after being asked to stop, and some businesses even believe that they were contacted by an INKAS representative posing as their current processor. Other, more recent INKAS Payments reviews mention undisclosed fees and contract terms and poor customer service. Although the company has relatively few complaints through the usual merchant services complaints channels, the nature of the available complaints has resulted in a grade of “C” for the company in this category. If you have your own INKAS Payments review to make, please do so in the comments below.
INKAS Payments Lawsuits and Fines
We have not found any outstanding class-action lawsuits or FTC complaints filed against INKAS Payments. Dissatisfied clients who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations.
INKAS Payments Customer Support Options
INKAS offers a contact form and a phone number on its website, but these contact options fall short of what we expect of top credit card processors for customer service.
INKAS Payments Customer Service Number
- (877) 382-4852 – Toll-Free Customer Service
INKAS Payments Online Ratings
Here's How They Rate Online
Note: We have adjusted this company’s BBB rating according to our own standards. To better understand why we adjust BBB ratings, please see our Rating Criteria.
Nearly 10 BBB Complaints
INKAS Payments Corporation currently has an “A+” rating with the Better Business Bureau and has been accredited since 2015. The company is showing 7 complaints filed in the past 36 months. Only 4 of these 7 complaints were resolved by the company to the satisfaction of the merchant. The remaining 3 were resolved to the dissatisfaction of the merchant or received no final response.
What Merchants Say
In addition to those 7 complaints, INKAS Payments has received 13 informal reviews, all negative. It should be noted that the BBB does not verify informal reviews like it does with complaints. The most recent review has to do with telemarketing efforts:
Annoying Telemarketers – have asked repeatedly to be put on the do not call list and the calls still keep coming daily !
Any business reviewing their options should be sure to research their best options for customer service before choosing a provider.
A “B” Performance
Given the company’s complaint rate and resolution ratio, we have adjusted the BBB‘s rating to a “B” for the purposes of this review.
INKAS Payments Fees, Rates & Costs
A Closer Look at The Contract
|Monthly & Annual Fees
Potentially Varied Pricing
There is currently very little information available about the standard INKAS Payments contract. Since the company is an Elavon reseller, it is likely that its standard contract closely resembles that of Elavon, but it is entirely possible that INKAS has the freedom to alter some contract terms as it deems necessary. The standard Elavon contract is a multi-year term with PCI Compliance fees ranging from $29 to $59, transaction fees of 2.65% plus $0.19 (swiped), and 3.15% plus $0.19 (keyed-in), and no termination fees. Given the likelihood that INKAS utilizes independent sales offices, though, it is possible that clients may receive varying rates and terms depending on their business types, sizes, and business history.
Virtual Terminal and Payment Gateway Pricing
In addition to its storefront payment processing services, INKAS Payments also dedicates a portion of its website to advertising its virtual terminal and payment gateway, dubbed VirtualMerchant. However, pricing is not disclosed on either of those services. Additional INKAS Payments rates and fees, including gateway fees, technical support fees, batch fees, and additional transaction rates typically apply to these e-commerce services.
Beware Long-Term Leases
The leasing arm of Elavon, Ladco Leasing, is notorious for providing long-term, expensive, non-cancellable equipment leases as an additional term of Elavon processing agreements. We found one INKAS complaint that mentioned a five-year lease through Ladco, indicating that some of the company’s clients may find themselves in expensive leases. The company’s grade has been lowered to reflect this possibility, especially because Ladco is one of the lowest-rated companies on CPO. We encourage business owners to check out our list of the providers of the best merchant services.
INKAS Payments Employee Reviews & Sales Tacitcs
Should You Work For Them?
|Uses Independent Resellers
|Discloses All Important Terms
INKAS appears to market its services primarily through independent agents, strategic partners, and telemarketing. The company’s telemarketing, in particular, seems to be a major source of frustration for clients, as there are numerous INKAS Merchant Services reviews that cite aggressive, unwelcome phone calls to business locations. In many cases, business owners report an inability to make the calls stop through polite requests, and some felt the need to resort to rude behavior in order to get the calls to stop. In addition, several INKAS complaints mention that the caller from INKAS attempted to mislead the client into believing that they were the business’ current processor (a highly unethical tactic known as “slamming“). This does not compare favorably to our list of best credit card processors.
Cause For Concern
Although we can find no INKAS complaints that mention deceptive tactics by the company’s in-person sales force, the telemarketing reports are worrying enough to lower the company’s score to a “C” at this time. If you suspect that INKAS is charging you undisclosed fees, we recommend seeking an independent statement audit to spot hidden charges.
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