Maverick Payments Review

Formerly known as Maverick Bankcard, the company rebranded as Maverick Payments in 2021. The change appears to be mostly cosmetic, as the company is still headed by Alan Griefer and still serves many high-risk merchant accounts. Maverick Payments offers online and in-person credit card processing, payment gateways, and is a reseller of POYNTPOS products.

In 2022, Maverick Payments announced a partnership with Fluid Pay, with a focus on improving ACH payment options.

As Maverick Bankcard

Multiple online merchant complaints state that Maverick Payments and BankCard USA were either the same company or a parent company and its subsidiary, but representatives of both companies have vehemently denied any existing connection between their organizations. The confusion appears to result from the fact that the 2 companies shared senior management at one time, since the father of a Maverick Payments account manager served as the principal at BankCard USA from 2000 to 2011. In addition, the two companies were previously located within the same building but had different suite numbers.

More Evidence Surfaces

Prior to an August 2017 update of this review, we took the company representatives at their word and treated the two companies as separate entities. However, new evidence has come to light that strongly suggests that our original suspicion was accurate. In a complaint filed in July 2016 against Maverick Bankcard’s Better Business Bureau page, a company representative replied to the merchant’s complaint by stating, “A lot of times, merchants GOOGLE their processor’s info, under ‘BankCard’ because that is what appears on their statements and since our company name is BankCard USA, we are the #1 GOOGLE search.” The response is also signed by “BankCard USA.” It is difficult to understand why BankCard USA’s customer service department would address new BBB complaints filed against Maverick Bankcard unless an operational or personnel overlap persisted between the two companies at least well into 2016.

Credit Card Processing for High-Risk Merchants

Maverick Payments provides credit card processing solutions tailored for businesses classified as “high-risk” by conventional financial institutions. They offer customizable payment gateways compatible with various e-commerce platforms and point-of-sale systems.

ACH and E-Check Processing

Maverick Payments also offers ACH and E-Check processing services, allowing merchants to accept direct payments from bank accounts.

Fraud Prevention and Security

Security is a key focus for Maverick Payments. They provide several fraud prevention tools, such as Address Verification Services (AVS) and Card Verification Value (CVV) checks, to protect both merchants and customers.

Virtual Terminal Solutions

For businesses that need to manually input credit card transactions or process mail and telephone orders, Maverick Payments offers secure, web-based virtual terminal solutions for easy payment processing.

Mobile Payment Processing

Maverick Payments supports mobile payment processing, enabling merchants to accept payments via smartphones or tablets. Their mobile solutions are compatible with both Android and iOS devices.

Multi-Currency and International Payments

Maverick Payments facilitates international business by supporting multi-currency transactions. This allows merchants to accept payments in various currencies, expanding their global customer base.

Recurring Billing Solutions

For businesses that utilize subscription models or installment payments, Maverick Payments offers recurring billing services. This feature automates payment collection at scheduled intervals.

Custom Reporting and Analytics

Maverick Payments provides robust reporting and analytics tools, enabling merchants to track sales, refunds, and other transaction data.

Low Complaint Total

Our current search reveals approximately 10 negative Maverick Payments reviews across various consumer protection websites. Some of these reviews label the company as a scam or a ripoff, with common issues cited including fund withholding, poor customer service, challenges in canceling services, and undisclosed or unauthorized fees. It’s important to note that misunderstandings often occur, especially with high-risk merchant accounts where fund withholding can be standard practice. On a positive note, Maverick Payments has garnered a number of verified, positive testimonials in the comment section below this review in the past two years, indicating a level of satisfaction among many clients. If you have an experience with Maverick Payments, we invite you to share your review in the comments below.

Maverick Payments Lawsuits

In 2023, Maverick Payments was involved in a legal case with Watch Rapport, although specific details of the case are not publicly available. Clients seeking non-litigious resolutions are advised to consider reporting their concerns to relevant supervisory organizations as an alternative to legal action.

PaymentPop Rating for Maverick Payments

Maverick Payments BBB Rating

Maverick Payments currently has an “A+” rating with the BBB and has been accredited since July 2018. The company has received 10 complaints in the past 36 months. 5 of these complaints were resolved to the satisfaction of the client. The other 5 were either resolved to the dissatisfaction of the client or received no final response.

Maverick Payments has a 1.31 out of 5 star rating based on 13 user reviews on the Better Business Bureau website.

In addition to 10 complaints, the Maverick Bankcard received 10 informal reviews on its BBB profile. 2 of the reviews were positive while 8 were negative, and the most recent one describes a large amount of held funds:

Researching the best available options for customer service is one way readers can assure themselves of being able to effectively resolve issues.

An “A” Performance Overall

In light of the low number of complaints, we agree with the BBB’s rating at this time.

Trustpilot Rating for Maverick Payments

Maverick Payments has a 3.7 out of 5 star rating based on 138 user reviews on Trustpilot.

Google Maps Rating for Maverick Payments

Maverick Payments has a 3.7 out of 5 star rating based on 91 user reviews on Google Maps.

Custom Pricing

Maverick Payments, known for providing merchant accounts tailored to high-risk businesses, adjusts its contract terms based on the specific needs and risk profiles of various businesses. A sample contract from First Data/Fiserv, related to Maverick Bankcard, outlines a $195 early termination fee, a $25 monthly minimum fee, a $25 chargeback fee, and a $10 monthly service fee. It’s unclear if these rates are consistently applied across all accounts today. The document does not specify a PCI Compliance fee, though it’s noted that contract terms can significantly differ between businesses. It is presumed that the terms under Maverick Payments may align closely with those previously set under Maverick Bankcard.

Contracts sourced from First Data/Fiserv may also involve long-term, non-cancellable equipment leases via First Data Global Leasing, often leading to costs exceeding direct purchase prices.

Virtual Terminal and Payment Gateway Pricing

Maverick Payments also promotes its virtual terminal and payment gateway solutions on its website, though specific pricing details for these services are not disclosed. Merchants can expect additional fees, such as gateway fees, technical support charges, batch fees, and further transaction costs for these e-commerce solutions.

Risk Mitigation Policies

The majority of customer feedback regarding Maverick Payments pertains to its fraud prevention measures, which may involve establishing a cash reserve or freezing accounts due to suspicious transactions. Such policies are commonplace among providers servicing high-risk accounts, aimed at safeguarding against fraudulent activity. However, better upfront communication regarding these fraud prevention strategies could potentially reduce related customer complaints.

Inside and Outside Sales Reps

Maverick Payments appears to partner with independent agents and resellers to market its services, although whether or not these agents are W2-employed is unclear at this time. We are currently able to locate two negative Maverick Bankcard reviews that describe nondisclosure of fees or misrepresentation of rates by the company’s sales agents, but these complaints represent a small percentage of the total number of reviews posted about Maverick Payments.

No Deceptive Quotes

As an additional point in Maverick Payment’s favor, the company’s official materials do not appear to utilize deceptive advertising strategies. We do not see any serious red flags with Maverick Payment’s sales approach at this time, but if you suspect that the company is overcharging you, we recommend seeking a third-party statement audit from an independent professional.

Maverick Payments rates as a decent credit card processing provider according to our criteria. The company currently shows a relatively low complaint rate, indicating a satisfactory level of customer service and operational efficiency. This positive feedback is a testament to the quality of services Maverick Payments offers, which has earned the company a high overall rating in terms of client satisfaction and service reliability.

However, it is crucial to address the ongoing controversy surrounding Maverick Payments. Despite the company’s consistent denial, evidence linking Maverick Bankcard to the poorly rated BankCard USA continues to surface. This persistent evidence suggests that the company’s executives may have misrepresented their relationship with BankCard USA, raising concerns about transparency and honesty. Given these potential issues, we strongly advise readers to thoroughly read and review all relevant documentation before committing to Maverick Payments. Ensuring a clear understanding of the company’s background and contractual terms is essential to making an informed decision.