iPayment May Have Overcharged You
If you accepted credit cards through iPayment or any other credit card processing company between 2017 and 2019, recent changes to the law may entitle you to refunds of certain debit card and credit card processing errors and overcharges. See this post to find out if your were among the businesses affected and to learn how you can get your money back.
UPDATE 5/8/2019: iPayment was acquired by Paysafe Group in June 2018. Visiting iPayment’s website will relocate users to Paysafe’s. For information on the company please review our review of Paysafe.
SUPPLEMENTAL UPDATE 11/2/2015 – iPayment (AKA: Flagship Merchant Services) has repeatedly made hostile attempts to force the removal of this review. These have included intimidation through bullying and threats of litigation under false pretenses as well as an illegitimate DMCA claim filed with our host, which was rejected on the grounds that it was a “guise” to suppress fair use of a trademark. It is our opinion that such actions reveal the depths to which iPayment’s executives will stoop in an attempt to suppress constitutionally protected free speech that is critical of their business practices. We view these actions as not only highly unethical, but as a demonstration of their unwillingness to correct the problems that cause merchant complaints and, instead, a preference for aggressive strong-arm retribution tactics. If you have been a victim of such threats or bullying, please detail your experience in the comment section below.
iPayment (ipaymentinc.com) is a very large ISO of First Data that claims to provide merchant accounts to approximately 153,000 small businesses nationwide. Founded in 1999, the company is headquartered in Nashville, Tennessee, but maintains its primary operations center in Los Angeles, California. iPayment became a publicly traded company in 2003 but was then purchased by an investment team led by its founder Greg Daily in 2006. It has operated as a private company since 2006.
iPayment also owns the domain name “creditcardprocessing.com,” though it is unclear whether it regards this business as a subsidiary or as a separate enterprise. iPayment acquired its longtime reseller Leaders Merchant Services in November 2017. iPayment is sponsored by Wells Fargo of Walnut Creek, California, as its Acquiring Bank. O.B. Rawls, IV, is the president and CEO of iPayment following the ouster of Carl Grimstad in September 2016.
- Sales & Marketing: iPayment hires independent sales agents and has received a moderate-to-high number of complaints about its sales practices.
- Costs & Contract: iPayment offers a three-year contract with an early termination fee of up to $350.
- Complaints & Service: iPayment has received more than 300 public complaints.
- BBB Rating: iPayment has an “A+” rating with the Better Business Bureau and has received 271 complaints in the past three years.
- Rates & Fees: How Merchants Got The Best Rates With iPayment
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