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Merchant 1 Payments is a merchant account provider headquartered in Concord, Ontario. Founded in 1999, the company provides Canadian merchant accounts as well as payment processing for U.S.-based businesses. The company provides Poynt as a POS solution to its merchants. It is worth noting that Merchant 1 Payments could potentially be confused with Merchant One in search results; however, these two entities are unrelated.
Merchant 1 Payments Payment Processing
Merchant 1 Payments processes all major debit and credit cards for most business types. Their services include EMV card readers and swipers, POS systems, MOTO, e-commerce solutions, data reporting and analytics, and wireless payments.
Mobile Payment Solutions
As more and more customers use their smartphones for payment, it is common for merchant services companies to offer mobile payment solutions. This allows businesses to accept payments anywhere, at any time, improving the convenience factor for customers.
Online Payment Gateways
For businesses operating online, merchant services companies typically provide online payment gateways. This allows businesses to safely and securely process transactions over the internet.
Point of Sale Systems
Modern point of sale (POS) systems are also a common offering. These systems not only process transactions but can also manage inventory, track sales, and provide valuable analytics.
Location & Ownership
Merchant 1 Payments is a registered MSP/ISO of the Canadian branch of U.S. Bank National Association and Elavon. The company is located at 2180 Steeles Ave W, Suite 300, Concord, ON L4K 2Z5. The president and CEO of Merchant 1 Payments is Joe Bonavota.
Merchant 1 Payments Pros and Cons
- Few Complaints
- Contract Terms Appear Good
- A Few Sales Complaints
- Potentially Costly Equipment Leases
Table of Contents
Merchant 1 Payments Customer Complaints & Reviews
Here's What Users Think
Total Online Complaints
Live Customer Support
Most Common Complaint
Low Complaint Total
We are currently unable to locate any Merchant 1 Payments reviews that accuse the company of being a ripoff or a scam. In fact, there are only a few reviews about the company across all consumer protection websites at this time. One Merchant 1 Payments complaint, posted in January 2014, vaguely describes a situation in which the merchant “had simply signed up and started receiving bills for online transactions that never happened!” This appears to be an isolated incident. It’s also unclear whether this complainant is referring to an external agent of Merchant 1 Payments or a representative from a different company. If you have your own Merchant 1 Payments review to make, please do so in the comments below.
Merchant 1 Payments Lawsuits and Fines
We have not found any outstanding class-action lawsuits or FTC complaints filed against Merchant 1 Payments. Dissatisfied clients who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations.
Merchant 1 Payment Customer Support Options
The lack of any other such complaints indicates that the company generally employs capable customer service reps and discloses all important contract terms. The Merchant 1 website lists dedicated phone support lines that are available 24/7. The company’s customer service offerings are generally on par with the top-rated payment processors for customer support.
Merchant 1 Payment Customer Support Options
- (877) 797-1783 – Toll-Free Support
(800) 541-2613 – Fax
Other Support Options
- Customer service email address at [email protected]
Merchant 1 Payments BBB Rating and Report
Our Better Business Bureau Profile Assessment
Clean Complaint Record
Merchant 1 Payments has been an accredited business with the Better Business Bureau since 2009. As of this review, the company currently holds an “A+” rating with the BBB and has had 0 complaints filed against it in the last 36 months.
What Merchants Say
Merchant 1 Payments has also received 7 informal reviews from users, all 5 stars. One recent informal review describes excellent customer service:
Jayden has recently set up my small business with Merchant 1 and I am very happy with the service so far. Quick and easy to get a hold of, always checking in to see how we are doing and a pleasure to work with. We have had zero issues with our set up and new machine. ***** ****** ********* ** ****** ** *** ******** ********* they take the time to listen and understand who we are. Currently using Merchant 1 in my retail storefront but looking forward to working with them for new my ecommerce site as well!
This level of quality of customer service is an important consideration when choosing a merchant account provider.
An “A” Performance
Given the fact that Merchant 1 Payments has received 0 complaints, we agree with the BBB’s score in this case. For more information on how we factor BBB grades into our overall ratings, please see our rating criteria.
Merchant 1 Payments Fees and Rates
A Closer Look at the Contract
Monthly & Annual Fees
1.00% - 4.99%
The standard Merchant 1 Payments contract outlines a month-to-month agreement with no early termination fee, a PCI compliance fee of $9.99 per month, and an optional, non-cancellable equipment lease through Ladco Leasing, one of the worst ranked companies on our website. There is also a PCI non-compliance fee of $20 per month for merchants who fail to maintain compliance.
A company representative has stated that clients can buy, rent, or lease equipment through Merchant 1. In almost all cases, businesses are advised to buy rather than lease equipment if possible.
Virtual Terminal and Payment Gateway Pricing
In addition to its storefront payment processing services, Merchant 1 Payments also dedicates a portion of its website to advertising its virtual terminal and payment gateway services through Elavon as well. However, pricing is not disclosed for the gateway. Client reviews report rates as high as 3.5% plus $0.30 along with a gateway fee of up to $25 per month. One Merchant 1 Payments complaint references a setup fee of nearly $500 dollars, though it is more than 5 years old and no other available public complaints reference the fee in the time since it was posted. However, additional rates and fees, including gateway fees, technical support fees, batch fees, and additional transaction rates typically apply to these e-commerce services.
No Pricing Complaints
Overall, there are no complaints that mention excessive fees or hidden clauses in the standard Merchant 1 Payments fees or contract. We will therefore assume that most of the company’s clients are satisfied with the service they receive. In our assessment, the company’s contract terms are competitive with some of the cheapest merchant accounts.
Merchant 1 Payments Jobs and Employment
Hiring Standards and Ethical Marketing Assessment
Uses Independent Resellers
Discloses All Important Terms
Inside and Outside Sales Agents
Merchant 1 Payments appears to employ both full-time, W2-employed inside sales agents and paid-by-commission external sales agents to market its services. The latter practice is often responsible for client frustrations in this industry due to the difficulty of monitoring these agents’ behavior, but in this case, we are only able to locate a few Merchant 1 Payments reviews that mention problems with the company’s sales team. One Merchant 1 Payments complaint does not provide specific details of what transpired and is therefore of little use. The other describes frustration with the company’s insistence on scheduling a phone call to receive a rate quote. If true, these complaints do not compare favorably to our list of best credit card processors.
No Red Flags
Merchant 1 Payments does not appear to engage in any deceptive advertising strategies in its official materials. If you suspect that the company is charging you undisclosed fees, we recommend seeking a third-party statement audit to eliminate hidden costs.