MagicPay Review: Fees, Comparisons, Complaints & Lawsuits

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5/5
full star idicating a 5 out of 5 star rating full star idicating a 5 out of 5 star rating full star idicating a 5 out of 5 star rating full star idicating a 5 out of 5 star rating full star idicating a 5 out of 5 star rating

How did they treat you? ▼

Serving Both Standard and High-Risk Business Types

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 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.

MagicPay Review Table of Contents

  • Costs & Contract: MagicPay offers interchange-plus and tiered pricing and a month-to-month contract through…
  • Complaints & Service: MagicPaycomplaints number fewer than 10 on public…
  • BBB Rating: MagicPay (as MagicPay Merchant Services, LLC) has an “A+” rating with 0 complaints and 8 reviews. The company has been accredited by…
  • Sales & Marketing: MagicPay does not appear to hire independent sales agents and…

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

We are unable to locate more than a few negative MagicPay review at this time, which is a strong indicator that the company is not a scam or a ripoff. This clean complaint record may be due to excellent pricing and service provided by MagicPay, or it may be that the company has yet to grow its merchant base to a size that would generate widespread complaints. It’s also possible that some complaints intended for MagicPay are instead filed against iPayHere or its former name of Switch Pay. If you have your own MagicPay review to make, please do so in the comment section below.

MagicPay Lawsuits and Fines

We have not found any outstanding class-action lawsuits or FTC complaints filed against MagicPay. Dissatisfied merchants who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations.

MagicPay Customer Service Options

MagicPay offers 24/7 customer support by phone to its merchants and its support team appears to operate at a level that is comparable even to top-rated credit card processors for great customer service.

We have located multiple MagicPay customer service phone numbers:

(855) 891-2600 – 24/7 Toll-Free Support
(561) 880-8472 – Fax

MagicPay also offers a customer support form on its website and a customer service email address at [email protected]

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 is a month-to-month agreement through iPayHere that can be canceled at any time without an early termination fee. The company’s pricing depends on whether a merchant opens a mobile account, a retail account, an all-in-one POS account, an internet account, or an offshore/high-risk account.

Mobile Processing Pricing

Mobile MagicPay merchants can choose either the “Starter” or the “Premier” plan. The Starter plan costs $10 per month and charges a rate of interchange plus 1% plus $0.10 per transaction. The Premier plan costs $20 per month but offers a lower rate of interchange plus 0.5% plus per transaction. MagicPay states that the Starter plan is best for merchants processing under $3,000 per month, while the Premier plan will be better suited for merchants processing more than $3,000 per month.

Retail Processing Pricing

Retail merchants who sign up through MagicPay can choose the PC & iPad POS plan, the retail terminal plan, or the wireless terminal plan. Merchants who choose the PC & iPad POS plan will accept credit cards at their businesses using secure software that runs on a PC or iPad. This plan costs $10 per month and charges interchange plus 0.5% and $0.05 per transaction. The retail terminal plan offers merchants a conventional countertop credit card terminal and costs $20 per month as well as interchange plus 0.5% and $0.05 per transaction. The wireless terminal plan costs $30 per month and charges a slightly higher per-transaction fee of interchange plus 0.5% and $0.10. Retail merchants may also opt for tiered per-transaction pricing of 1.69% plus $0.20 (swiped qualified), 2.39% plus $0.20 (swiped mid-qualified), or 3.49% plus $0.20 (keyed qualified, keyed mid-qualified, or both swiped and keyed non-qualified). Merchants are generally advised to choose interchange-plus pricing because it is the most transparent model available.

Virtual Terminal and Payment Gateway Pricing

E-commerce merchants with MagicPay can choose the “VirtualPay” plan or the “VirtualPay PRO” plan. The VirtualPay plan costs $15 per month and charges a per-transaction rate of 2.2% plus $0.30 (qualified and mid-qualified) and 3.2% plus $0.30 (non-qualified). The VirtualPay PRO plan costs $30 per month but offers a lower per-transaction rate of interchange plus 0.75% plus $0.20.

High-Risk Processing Pricing

Offshore and high-risk merchants will receive custom pricing that, as a general rule, will be more expensive than the company’s standard-risk accounts. Merchants operating in high-risk sectors may find the best rates and service through the top-rated high-risk merchant account providers. MagicPay does not mention whether it charges a PCI compliance fee on any of these pricing plans, but it may include PCI compliance in its monthly fees for each plan. Considering MagicPay’s month-to-month agreements with broad pricing flexibility, we have given the company an “A” in this category.

We also encourage merchants to check out 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

A Solid Payment Processor

MagicPay rates as a reliable merchant services provider according to all available information. The company is not showing widespread merchant complaints and appears to offer transparent, competitive contract terms. Our rating for MagicPay may be subject to change once the BBB establishes a profile for the company, but for now, it compares favorably to the best overall merchant account providers.

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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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