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MagicPay Review: What You Must Know Before Signing Up

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Maintained Since: February 29, 2016

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All mentions of rate and fee costs are estimations based on publicly available information and client feedback. Actual costs may vary based on a variety of factors unique to your business.

MagicPay
Rating
A
5/5
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Pros

Transparent pricing
Month-to-month contracts
High-risk acceptance
Quick approvals
No cancellation fees

Cons

Potential high-risk fees
Equipment costs
Possible hidden fees
Contract terms
No mobile app

Overview

In this review of MagicPay, we take a closer look at the company’s credit card processing services. Their offerings include point-of-sale systems, mobile payment options, and e-commerce features designed for a range of businesses. We’ll highlight which businesses may benefit most from these services. We’ll also review customer feedback to show common trends and concerns. In addition, we’ll cover pricing, contract terms, and what’s included. By the end, you’ll know whether MagicPay is the right fit for your payment processing needs.

About MagicPay

Screen Capture of MagicPay Homepage
MagicPay Homepage

Founded in 2012, MagicPay is a Boca Raton, Florida-based merchant account provider that serves both standard and high-risk business types as well as offshore merchants. The company is a reseller of iPayHere (formerly known as SwitchPay), but it is also partnered with other processors in order to serve its high-risk accounts.

Products & Merchant Services

Payment Processing

MagicPay facilitates the processing of all major debit and credit cards for a variety of business types.

Point-of-Sale Systems

Point-of-sale (POS) systems are the backbone of retail and service operations, providing businesses with an integrated platform to manage sales transactions, inventory, and customer data. Modern POS systems support a variety of payment methods, including credit cards, debit cards, and digital wallets.

Mobile Payment Options

Mobile payment options allow businesses to accept payments on the go, offering flexibility and convenience for both merchants and customers. These solutions typically include portable card readers that connect to smartphones or tablets, enabling businesses to process transactions anywhere, whether in-store, at events, or during service calls.

E-Commerce Solutions with Virtual Terminals

E-commerce solutions with virtual terminals provide businesses with a comprehensive platform for managing online and remote transactions. Virtual terminals allow merchants to manually enter payment details for transactions conducted over the phone, via email, or through online forms.

Integration with QuickBooks

Integration with QuickBooks is a valuable feature for businesses looking to streamline their accounting and financial management processes. This integration allows sales data from POS systems, e-commerce platforms, and other payment solutions to be automatically synced with QuickBooks, reducing the need for manual data entry and minimizing errors.

Customer Reviews & Sentiment

Nearly Clean Complaint Record

Our search yielded only a limited number of negative MagicPay reviews, suggesting the company operates legitimately and is not involved in deceitful practices. The minimal complaints could be attributed to MagicPay’s competitive pricing and quality service. Alternatively, it might be that MagicPay’s customer base is not yet large enough to generate significant feedback. Additionally, some confusion may arise from MagicPay’s association with iPayHere or its previous branding as Switch Pay. We invite you to share your experiences with MagicPay in the comments below.

MagicPay Lawsuits and Fines

No major class-action lawsuits or FTC complaints have been found against MagicPay. Merchants seeking non-litigious resolutions for their concerns with MagicPay are advised to report them to appropriate supervisory organizations.

Industry Scores & User Ratings

Online Ratings Summary
PaymentPop1
Google Maps5
Average Rating3

PaymentPop Rating for MagicPay

Negative Feedback

We have many issues with this merchant service, specially with EBT. First time it took them about a month to figure out the problem and solve it which causes a lot of inconvenience and business loss. And now, its been two weeks that we have issue with EBT yet the problem has not been solved. We do average $600 of transaction daily. Now, our customers are going to other stores as the EBT does not work in my store. I know Rami seems to be responsive but it really has not been working.

Positive Feedback

There are no positive reviews published about MagicPay on the PaymentPop website.

Google Maps Rating for MagicPay

MagicPay has a 5 out of 5 star rating based on 50 user reviews on Google Maps.

Positive Feedback

Our experience has been sensational, we have received an excellent, professional, and speedy service in every need we have had. 100% recommended.

Negative Feedback

There are no negative reviews published about MagicPay on Google Maps.

Processing Rates & Fees

Month-to-Month Agreement

The standard MagicPay contract offers a flexible month-to-month agreement through iPayHere, allowing cancellation at any time without a termination fee. MagicPay tailors its pricing based on the merchant’s specific needs, including mobile, retail, all-in-one POS, internet, or offshore/high-risk accounts.

Mobile Processing Pricing

MagicPay presents two plans for mobile processing: the “Starter” plan at $10 per month with interchange plus 1% plus $0.10 per transaction, and the “Premier” plan at $20 per month with a more favorable rate of interchange plus 0.5% plus $0.10 per transaction. The company recommends the Starter plan for merchants with monthly transactions under $3,000 and the Premier plan for those exceeding this amount.

Retail Processing Pricing

Retail merchants have options among PC & iPad POS, retail terminal, or wireless terminal plans. The PC & iPad POS plan, at $10 monthly, utilizes secure software for transaction processing, offering interchange plus 0.5% and $0.05 per transaction. The retail terminal plan charges $20 monthly, while the wireless terminal plan is $30 monthly, both providing competitive transaction rates. Additionally, tiered pricing options are available, including 1.69% plus $0.20 for swiped qualified transactions.

Virtual Terminal and Payment Gateway Pricing

E-commerce merchants can select from the “VirtualPay” or “VirtualPay PRO” plans, with monthly fees of $15 and $30 respectively. The VirtualPay plan applies a transaction rate of 2.2% plus $0.30 for qualified transactions, whereas the VirtualPay PRO plan offers rates of interchange plus 0.75% plus $0.20.

High-Risk Processing Pricing

For offshore and high-risk merchants, MagicPay provides tailored pricing, typically higher than for standard-risk accounts. These merchants might also benefit from exploring services through leading high-risk merchant account providers. It’s not specified whether a PCI compliance fee is included in the monthly plan fees.

Considering MagicPay’s adaptability with month-to-month agreements and its wide range of pricing options, the company is rated “A” for its contract terms.

We also encourage merchants to review our list of the providers of thebest merchant services.

Employee Reviews & Sales Practices

No Sales Complaints

MagicPay appears to market its services via an internal sales team and traditional advertising. There is no evidence at this time that the company utilizes independently contracted sales agents, and we cannot find any MagicPay reviews that mention deceptive contact by the company’s sales team.

This compares favorably to our list ofbest credit card processors.

Straightforward Pricing

The MagicPay website quotes a number of different per-transaction rates under the company’s interchange-plus and tiered pricing plans, and it appears that these MagicPay rates are transparently listed. Given the company’s straightforward pricing and clean complaint record, we have assigned it an “A” in this category. However, if you suspect that MagicPay is charging you undisclosed fees, we recommend seeking a third-party statement audit.

MagicPay Competitors

Compare MagicPay to competitors that earned top marks.

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Bottom Line

MagicPay stands out as a reliable merchant services provider, according to all the information currently available. The company garners positive feedback for its transparent and competitive contract terms, showing no signs of widespread merchant complaints that often plague the industry. This consistency in quality places MagicPay in a favorable position compared to the top merchant account providers. While our assessment could evolve once the Better Business Bureau establishes a comprehensive profile, MagicPay maintains its commendable reputation, distinguishing itself with integrity and customer-centric practices in a challenging market.

Read Actual User Reviews

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All user reviews have been moved to our partner, PaymentPop.com

Contact MagicPay

Contact & Customer Support
Founder and CEORami Levi
Headquarters4710 NW 2nd Ave, Suite 101, Boca Raton, FL 33431
24/7 Toll-Free Support(855) 891-2600
Fax(561) 880-8472
Additional Support ChannelsOnline Contact Form
Websitemagicpay.net