Note: As of 2023, it appears that MatchRate Plus is out of business. We are unable to find any evidence of activity from the company since 2019. We will no longer be updating this profile. If you have any evidence that MatchRate Plus is still in business, please let us know in the comments below.
MatchRate Plus Overview
MatchRate Plus does not appear to be an actual merchant account provider itself but, instead, a referral engine for North American Bancard. The company’s business model seems to rely heavily on enlisting independent “Referral Agents” to generate leads. These agents are then paid a commission and residual for the leads that turn into accounts. MatchRate Plus also promotes that it gives 25% of the commission and residual that it receives from North American Bancard back to each merchant it signs in the form of a monthly rebate.
MatchRate Plus Payment Processing
Aside from directly paying agents to sell its service, the company appears to operate several websites designed to market to potential referral agents and merchant leads. There also appears to be a Multi-Level Marketing (MLM) component in which Referral Agents that refer other agents can earn income from their referred accounts. This may also be the reason that numerous websites exist to promote MatchRate Plus.
MatchRate Plus Ownership & Location
Reports state that MatchRate Plus was founded in 2010 and is headquartered at 4888 Davis Blvd, Naples, FL 34104. However, the BBB lists the company at 9045 Strada Stell Ct STE 106 Naples, FL.Gary “Clay” Fishman is listed as the CEO of MatchRate Plus.
Leadership
- Ray Moyer
Customer Reviews & Sentiment
Commonly Cited Complaints
Many MatchRate Plus complaints report difficulty resolving problems and no cooperation from North American Bancard prior to filing a public complaint. The commonly reported problems are agents using deceptive sales tactics, hidden and surprise MatchRate Plus fees, sudden increases in fees shortly after service begins, nondisclosure of the service length agreement, and nondisclosure of the early termination fee. Nearly all of these problems can be traced back to agents who fail to verbally disclose important terms of the contract. We hold providers responsible for their agent’s actions since the provider enforces the terms and conditions of the contract and sets the policies by which agents can sell their services. North American Bancard’s customer support falls way short of our standard for the top-rated customer service merchant accounts. If you have your own MatchRate Plus review to make, please do so in the comments below.
MatchRate Plus Lawsuits and Fines
We have not found any outstanding class-action lawsuits or FTC complaints filed against MatchRate Plus. Dissatisfied merchants who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations.
MatchRate Plus Customer Service Options
It appears that North American Bancard handles customer support for all accounts referred to it by MatchRate Plus. Therefore, we are giving MatchRate Plus the same grade as North American Bancard in this section. North American Bancard has a moderate-to-high number of complaints filed online, many of which are filed with the Better Business Bureau and the comment section of the company’s review on this website. The company appears to be diligent in responding to and attempting to resolve public complaints; however, North American Bancard would fare much better in its review if it did a better job of preventing the problems that are causing the complaints.
We have located a single MatchRate Plus customer service phone number:
(800) 518-9776 – Toll-Free Customer Service
Considering MatchRate Plus’ reliance on North American Bancard for its customer service, we award the company a “D” in this category.
Client Satisfaction Ratings
| Total Complaints | 0 |
|---|---|
| Resolved Complaints | 0 |
No BBB Complaints
As of this review, MatchRate Plus is not accredited with the Better Business Bureau but has an “A+” rating nevertheless. The company has received 0 complaints in the last 36 months. We also did not locate many other MatchRate Plus complaints outside of the BBB. It should be noted that since MatchRate Plus does not appear to provide or manage the merchant accounts it sends to North American Bancard, any complaints about its processing services would likely be filed under North American Bancard’s profile.
MatchRate Plus vs. North American Bancard
It is difficult to know exactly how to split the difference between the two companies’ BBB reports; in this case, we will agree with MatchRate Plus’s rating of an “A”.
Card Processing Rates & Fees
Partnered With an “F” Provider
MatchRate Plus refers merchants to North American Bancard, a credit card processor whose contract terms we have graded as an “F.” North American Bancard’s standard contract is a 36-month agreement with a Liquidated Damages Early Termination Fee and a variety of (often undisclosed) monthly fees. MatchRate Plus contract terms can leave merchants on the hook for thousands of dollars when they attempt to cancel service. They are not at all competitive with the cheapest merchant accounts available.
Slightly Better Than NAB
We have upgraded the company’s rating to a “D” in this section because MatchRate Plus advertises a 25% monthly rebate, some early termination fee support, and month-to-month contracts through North American Bancard. There are no publicly available MatchRate Plus complaints that challenge these claims, but merchants are advised to exercise caution with regard to how a MatchRate Plus referral agent markets the services of North American Bancard. Generally speaking, MatchRate Plus’s use of North American Bancard for its processing should be a major deterrent for most merchants when it comes to contract terms. We encourage merchants to check out our list of the providers of thebest merchant services.
Bottom Line
An Average, Possibly Defunct Processor
MatchRate Plus does not appear to be a deceptive referral network, but its affiliation with North American Bancard severely lowers its overall rating. Generally speaking, agents involved with the program seem pleased with the way it is structured, but given North American Bancard’s contract terms, marketing tactics, and complaint record, the merchants referred by these agents are not likely to be satisfied with their processing services. Merchants will be better served by a top-rated payment processor.
MatchRate Plus Rating
