MagicPay Reviews & Complaints

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5
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How did they treat you? ▼

Overview

In this review of MagicPay, we will provide a detailed overview of the company's credit card processing services. We will cover the range of services they offer, including point-of-sale (POS) systems, mobile payment solutions, and e-commerce capabilities. The review will identify the types of businesses that might benefit from these services. Additionally, we will examine client and customer reviews to highlight common trends and potential concerns. The article will also address the company's pricing structure, contract terms, and specific services provided. By the end of this review, you will understand whether MagicPay meets your payment processing needs.

About MagicPay

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.

MagicPay Payment Processing

MagicPay processes all major debit and credit cards for most business types. Their services include POS systems, mobile payments, e-commerce solutions including virtual terminals, and QuickBooks integration.

MagicPay Customer Reviews

Here's What Their Clients Say

Customer Reviews Summary
Total Online Complaints <10
Live Customer Support Yes
Most Common Complaint N/A

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.

MagicPay Customer Service Options

MagicPay offers 24/7 customer support by phone, demonstrating a commitment to merchant support that rivals top-rated credit card processors known for excellent customer service.

Here are the available MagicPay customer service contacts:

  • (855) 891-2600 – 24/7 Toll-Free Support
  • (561) 880-8472 – Fax
  • Email support is available at [email protected]
  • MagicPay also provides a customer support form on its website.

MagicPay Online Ratings

Here's How They Rate Online

Online Ratings Summary
Total BBB complaints 0
Resolved Complaints 0

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MagicPay Fees, Rates & Costs

A Closer Look at The Contract

Cost & Fees Summary
Cancellation Penalties No
Monthly & Annual Fees Yes
Processing Rates 2.20% - 3.49% + $0.20- $0.30
Interchange-Plus Rate Interchange + 0.50% + $0.10 - $0.21

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 the best merchant services.

MagicPay Employee Reviews & Sales Tacitcs

Should You Work For Them?

Jobs & Marketing Summary
Employs Independent Resellers No
Advertises Deceptive Rates No
Discloses All Important Terms Yes

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 of best 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.

Our MagicPay Review Summary

Our Final Thoughts

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.

Location and Ownership

MagicPay is headquartered at 4710 NW 2nd Ave, Suite 101, Boca Raton, FL 33431, and does not disclose the identity of its acquiring bank. Rami Levi is the founder and CEO of MagicPay.

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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 MagicPay Treat You?

6 User Reviews

  • Rajendra GC

    Sisters Mart LLC

    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.

  • Alicia

    I applied with MagicPay after Looking for a local merchant processing agent. A representative named Rami Levi setup my account, it was relatively simple, however required some personal documents. Easy mobile app to use.

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