Ironwood Payments Card Processing Reviews & Complaints

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How did they treat you? ▼

Pros & Cons
Pros: Cons:
Integrity and transparency emphasized​ Limited pricing disclosure online​​.
BBB rating of A+​​. Some older residual complaints​​.
Transparent, flexible contract terms​​. Non-disclosed e-commerce fees​​.
In-house, trained sales team​​. Monthly PCI compliance fee​​.
High customer satisfaction focus​​. Non-cancellable equipment leases​​.

Company Overview

Founded in 2015, Ironwood Payments is a merchant account provider that was created via the acquisition of ElitePay Global‘s merchant portfolio. The owners of Ironwood Financial (Ironwood Payments' parent company) did not realize at the time of purchase that there were severe issues with the structure, culture, and business practices of ElitePay Global. As a result, Ironwood Payments received a high number of complaints over approximately one year that were similar to the complaints filed against ElitePay Global (one of the worst-rated providers on CPO). Our rating for Ironwood Payments was very low during this period due to the company's prior dealings with ElitePay Global, documented proof that many of Ironwood's employees were former ElitePay Global employees, and many Ironwood Payments complaints that described exorbitant leasing fees and deceptive sales tactics.

Efforts to Fix Problems

Eventually, Ironwood hired a third party to conduct a full review of the company's practices and suggest necessary changes. Ironwood also began to reach out directly to dissatisfied clients and attempt to resolve their issues. Ironwood has contacted CPO to offer a significant amount of background information about the company and insight into its practices, and CPO has separately verified as much of this information as possible. CPO is now satisfied that Ironwood Payments has severed all ties with ElitePay Global and is committed to a total reform of its business practices. In fact, Ironwood Payments has taken proactive steps (documented in this review) to become a highly transparent and dependable merchant account provider.

Ironwood Financial Payment Processing

Ironwood Financial processes all major debit and credit cards for most business types. Their solutions include POS solutions, mobile payments, EMV card readers and swipers, B2B, MOTO, and e-commerce solutions. The company advertises SwipeSimple Register, Vend, ShopKeep, and Talech as POS solutions.

Point of Sale Systems

The company offers various Point of Sale (POS) systems designed to streamline operations and improve customer service. From traditional countertop terminals to modern touchscreen systems, Ironwood Financial has a POS solution for every business. Some systems also integrate inventory management and reporting functionalities, providing a comprehensive business management tool.

Mobile Payment Solutions

Recognizing the growing trend of mobile commerce, Ironwood Financial provides a mobile payment solution. This service allows businesses to accept credit and debit card payments on the go using a mobile device. It is a valuable tool for businesses that operate outside a traditional storefront, such as pop-up shops, food trucks, or at trade shows.

E-Commerce Payment Gateway

Ironwood Financial caters to online businesses with its e-commerce payment gateway. This service provides a secure platform for processing online payments. It supports a variety of payment methods and currencies, making it a suitable choice for businesses looking to sell their products or services globally.

Payment Security and Compliance

Security is paramount in payment processing. Ironwood Financial offers advanced payment security measures including encryption and tokenization. Additionally, they help businesses navigate complex compliance requirements, ensuring they meet the Payment Card Industry Data Security Standard (PCI DSS).

Business Funding Solutions

Beyond payment processing, Ironwood Financial also offers business funding solutions. These include merchant cash advances, a form of financing that offers a lump sum in exchange for a percentage of future credit card sales.

Ironwood Payments Customer Reviews

Here's What Their Clients Say

Customer Reviews Summary
Total Online Complaints 10+
Live Customer Support Yes
Most Common Complaint Equipment Lease
Recent Lawsuits Yes

Reviewing Ironwood Payments Customer Feedback

Our latest analysis of Ironwood Payments reviews uncovers approximately 10 negative accounts on consumer protection sites, which is fewer than previously noted. Ironwood Payments has shown a commitment to resolving past issues, as evidenced by their direct interaction with complainants. The main complaints, which are over a year old, often cite high fees and extended leases. The decline in recent complaints is a positive indicator of Ironwood Payments’ efforts to improve its practices. We encourage individuals with their own experiences to share their Ironwood Payments reviews in the comments section for a comprehensive perspective.

Ironwood Payments’ Legal Status

In December 2016, Ironwood Financial was involved in a lawsuit (case number 1:16-cv-11223, “Wang et al v. Wells Fargo, NA et al”) over allegations of unauthorized recording of phone calls. Although Ironwood anticipated a successful defense, the case was allowed to proceed in April 2018. This legal challenge is associated with practices linked to ElitePay Global and may not reflect the current standards of Ironwood Payments.

Evaluating Ironwood Payments Customer Support

Ironwood Payments provides both phone and email support to its clients. While these are essential customer service channels, further improvement is needed for the company to be recognized as a top merchant account for excellent customer service.

Contact Information for Ironwood Payments

  • (844) 449-7687 – Toll-Free Customer Support
  • (877) 471-6557 – Fax
  • Customer support form
  • Customer service email at [email protected]

Ironwood Payments’ significant progress in addressing complaints has earned them a “B” rating. This rating may be raised to an “A” if the company continues on its current path of improving customer relationships.

Ironwood Payments Online Ratings

Here's How They Rate Online

Online Ratings Summary
BBB Reports 1

Under 5 Complaints

Ironwood Payments currently has an “A+” rating with the Better Business Bureau and is not accredited. The company’s profile has received 1 complaint in the last 36 months.

An “A” Performance Overall

Ironwood has received a low number of complaints. Given its declining complaint total, we are inclined to agree with the BBB‘s rating of an “A.”

Ironwood Payments Fees, Rates & Costs

A Closer Look at The Contract

Cost & Fees Summary
Cancellation Penalties No
Monthly & Annual Fees Yes
Processing Rates Interchange-Plus
Equipment Leasing Yes

Multi-Year Contract Overview

Ironwood Payments offers a multi-year agreement through Vantiv that features no early termination fees and a monthly PCI compliance fee of $10. Merchants benefit from interchange-plus pricing and have several equipment options, including keeping purchased equipment without additional costs. This approach provides significant flexibility and safeguards clients from excessive cancellation fees.

Vantiv, alongside Ironwood Payments, utilizes a third-party company for payment processing equipment leases. Typically, this involves a 48-month, non-cancellable lease with Lease Finance Group, where the total lease cost can significantly exceed the purchase price of the equipment. For context, credit card terminals generally cost less than $500 when bought outright.

Virtual Terminal and Payment Gateway Offerings

Ironwood Payments features virtual terminal and payment gateway services on its website. Specific pricing details for these e-commerce solutions are not publicly disclosed. Merchants should expect additional fees such as gateway and technical support fees, alongside transaction rates.

Overview of Merchant Feedback

While there are some complaints regarding Ironwood Payments’ previous contract terms, these largely pertain to policies before the company’s recent restructuring. The current terms, including their interchange-plus pricing model and equipment handling policies, show a marked improvement in transparency and flexibility. However, it’s important to recognize that some merchants may still be dealing with contracts signed under the old terms. Accordingly, Ironwood Payments is rated “B” for its contract terms, acknowledging both its current client-friendly policies and its past practices.

Businesses in search of competitive merchant services are advised to review our curated list of top merchant account providers.

Ironwood Payments Employee Reviews & Sales Tacitcs

Should You Work For Them?

Jobs & Marketing Summary
Uses Independent Resellers No
Misleading Marketing No
Discloses All Important Terms Yes

In-House Sales Team

Ironwood Payments employs an in-house sales team and no longer relies on telemarketing or independent sales agents to sell its products. The company promotes interchange-plus pricing but will offer tiered pricing if clients request it. Ironwood also clearly displays the cost of each piece of processing hardware, which can be purchased outright, purchased in installments, or rented for a fixed monthly cost. Ironwood has done away with long-term equipment leases and does not plan to partner with equipment leasing companies such as Northern Leasing Systems in the future. This appears to have drastically lowered the number of negative Ironwood Payments reviews in recent years.

This compares favorably to our list of best credit card processors.

Improved Merchant Feedback

Ironwood Payments does not list specific per-transaction pricing on its website, but its W2-employed sales representatives are trained to disclose all Ironwood Payments rates and fees. These practices constitute a dramatic turnaround for the company’s sales approach and have resulted in an equally striking decrease in complaints. We will assign Ironwood an “A” in this section because the processes it has implemented are worthy of an “A” rating, but we will continue to monitor its performance very closely. If you suspect that you are being charged undisclosed Ironwood Payments fees, we recommend seeking an independent, third-party statement audit.

Our Ironwood Payments Review Summary

Our Final Thoughts

We consider Ironwood Payments to be a decent option for credit card processing at this time, primarily due to its sharply reduced complaint total. The company still receives some residual complaints from its early days, which indicate lingering concerns from past customers. However, it’s evident that Ironwood Payments is making a sincere, substantive effort to correct its mistakes and improve its service quality. This proactive approach includes addressing customer grievances promptly and transparently, which is crucial for rebuilding trust and enhancing its reputation in the industry.

To raise its overall rating, Ironwood Payments will need to maintain this trajectory of excellent service and customer satisfaction. The company’s commitment to rectifying past issues and striving for better service delivery positions it as a potential top-rated all-purpose merchant account provider in the future. Businesses considering Ironwood Payments should keep an eye on its progress and weigh their options carefully, comparing Ironwood’s offerings and customer feedback with those of top-rated providers to ensure they receive the best possible terms and support for their credit card processing needs.

Location & Ownership

Ironwood Financial, LLC, is headquartered at 2718 West Oxford Loop, Suite 185, Oxford, Mississippi 38655. Ironwood also maintains two office locations in the State of Utah located at 50 West Broadway, Suite 500, Salt Lake City, Utah 84101, and at 2150 South 1300 East, Suite 500, Salt Lake City, Utah 84106. Ironwood has contracted with Incorp Services, Inc. to provide registered agent services within the State of Utah. Ironwood Payments is a registered ISO/MSP of Fifth Third Bank, Cincinnati, Ohio; and Merrick Bank, South Jordan, UT. John Lewis and Dewitt Lovelace are the owners of Ironwood Payments.

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Which is Most Important for You?

If you had to pick one, which quality would you say will be the most important with your next credit card processor? Tap or click your selection to register your vote:

  1. Low Transaction Fees
  2. No Monthly Fees
  3. No Contract
  4. Reliable Customer Support
  5. Quick Signup

Testimonials & Complaints

How Did Ironwood Payments Treat You?

10 User Reviews


    Tammy's Notary Service

    I’m a Small Business owner of two Businesses I went with the credit card processor of our locate bank First Citizens Community bank use. In 2020 they changed to Ironwood one of my businesses was a seasonal and should have only been active 3 months out of the year the other was a notary office open year round after reviewing my accounts they have billed me the entire year for the seasonal at 39.00 a month 19.95 Non Validation fee, on file fee 10.00 PCI program fee 2.50 I reached out to them and they would refund 78.00 but not the 19.95 a month for none complaint so I then wanted to cancel my seasonal and was told 375.00 early termination fee. This is theft do not use this processor

    • Joan Kuykendall


      I spoke with Ms. Aumick on 11/10/2021. We had initially refunded 4 months of the PCI non-compliance fee. After further research we learned she had not received any of the notifications around PCI. We ended up refunding the PCI fees in full and closed the non-active merchant account with no ETF. Our team also assisted her in becoming PCI compliant. I spoke with Ms. Aumick in November and apologized that the item had not been escalated internally sooner. I believe she felt this was resolved to her satisfaction based on my conversation with her at that time.

  • Michael Hagan

    Our first run in with Ironwood was horrible, the salesman lied to us about the service we were to receive, it was suppose to be a buy in pool for better rate and wound up being a 4 year $4000+ lease with Northern leasing! Hey we’re automotive mechanics not lawyers so we took the salesman at his word, boy we were dead wrong! We were paying more than the previous processor! we were stuck in this lease but not with the processing so we dumped Northern Leasing and went with HMS, great company. After about 6 months with HMS good ol Ironwood called us and told us of their prior problems with the company and what they are doing to correct the issues, then proceeded to ask us what it would take to get their business again, so we told them to match the current rates we have and pay the lease payment. Not only did Ironwood match it but they beat it and they are also paying the lease payment for us! Ironwood has done a complete 180 degree turn around, Fired all their local sales staff and are genuinely improving their company practices. Thank you Ironwood for stepping up to the plate and not only admitting your mistakes but also doing something about them!

  • Bob S

    I would like to take this opportunity to express my thankfulness and gratitude towards the entire Ironwood staff for being so supportive and friendly. Working with the salesman guidance was indeed a great experience . I finally feel lucky to have such a professional credit card processor. Changing my processing was a team effort and it couldn’t have been done without the support of the entire Ironwood team. I look forward to expanding my business processing with Ironwood in the future.

      • Richard-owner/Bob-manager

        1395 LAKELAND AVE BOHEMIA NY 11716
        I would like to take this opportunity to express my thankfulness and gratitude towards the entire Ironwood staff for being so supportive and friendly. Working with the salesman guidance was indeed a great experience . I finally feel lucky to have such a professional credit card processor. Changing my processing was a team effort and it couldn’t have been done without the support of the entire Ironwood team. I look forward to expanding my business processing with Ironwood in the future.

  • Lisa

    I signed up with Ironwood and they did nothing good. After several failed attempts to get adequate customer service and managers involved I called my attorney. Ironwood took me only for $800 and a $1200 attorney fee along with hours on the phone and frustration. DON’T use them they are unethical and liars!
    I will research more before I ever make a move from my current processor.

    Ironwood Payments Response:
    “Thank you for your feedback. We would like to be of assistance to you and help you resolve your issue. We would encourage you to call the Ironwood Customer Service Department at 844-449-7687 and ask to speak with a manager. We look forward to helping you.”

    Ironwood attempted to resolve the complaint above but the merchant declined to participate.

  • Ashley Rooney

    Ironwood attempted to resolve this complaint via our mediation program but the merchant declined to participate. Ironwood has issued the following response:

    Ms. Rooney, thank you for your feedback. We would like to be of assistance to you and help you resolve your issue. We would encourage you to call the Ironwood Customer Service Department at 844-449-7687 and ask to speak with a manager. We look forward to helping you.

    My father and I both switched over from a company we were very happy with, all to save $ every month. We were completely swindled. The customer support is horrible, they do not care that we are unhappy. They have no way of getting in touch with the sales rep that fed us a bunch of lies. We are now locked in for 5 years, with major cancellation fees if we walk. Thinking about getting in touch with a lawyer to fight this company. But also want to do whatever I can to prevent people from making the mistakes we made. I am exhausted from calling the company, complaining, asking why we are paying more money every month than less.

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