Merchant Overview

Merchant May Have Overcharged You

If you accepted credit cards through Merchant or any other credit card processing company between 2017 and 2019, recent changes to the law may entitle you to refunds of certain debit card and credit card processing errors and overcharges. See this post to find out if your were among the businesses affected and to learn how you can get your money back.

Multi-Currency Payments for Canadian Merchants

Founded in January 2001, Merchant is a merchant account provider that specializes in cross-border payment processing for small and mid-size businesses. The company is partnered with a large number of banks in Canada, the U.S., and overseas in order to help merchants accept payments in any currency. The majority of its merchants are based in Canada and the U.S., but the company claims that it can also process payments for any legal entity in the UK, Europe, and Australia.

Merchant Location and Ownership

Merchant is a registered ISO of Peoples Trust Company and is headquartered at 4200 Morris Dr Unit C, Burlington, Ontario L7L 5L6, Canada. David Goodale is the CEO of Merchant

Merchant Review Table of Contents

  • Costs & Contract: Merchant offers a month-to-month contract with fixed pricing and no termination fees.
  • Complaints & Service: Merchant has received fewer than 10 public complaints.
  • BBB Rating: Merchant currently does not have a profile with the Better Business Bureau.
  • Sales & Marketing: Merchant hires independent sales agents but has not received any complaints about its sales practices.
  • Rates & Fees: How Merchants Got The Best Rates With Merchant
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Products & Services Offered

Types of Businesses Served

  • Retail
  • Mobile
  • E-commerce
  • International

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Merchant Rates, Fees, and Costs

Key Points

Starter Plan Rate 2.5%+ $0.30
Advanced Plan Rate Interchange + $0.20
Virtual Terminal Rate 2.5%+ $0.30 or Interchange + $0.20
Payment Gateway Fee Undisclosed
Advanced Plan Monthly Fee $39
Dormancy Fee $50 Per Month
Chargeback Fee $25
Early Termination Fee $0

Merchant Starter Pricing

Merchant offers two pricing plans for merchants: the “Starter” plan and the “Advanced” plan. The Starter plan is a month-to-month agreement with no early termination fees, no setup fees, no monthly fees, and a fixed per-transaction fee of 2.5% plus $0.30. This 2.5% plus $0.30 rate only applies to transactions with interchange costs below 2.5%. Transactions with interchange costs above 2.5% will be charged 2.5% plus the difference between 2.5% and the interchange rate, plus $0.30. This plan is intended for merchants who process between $2,000 and $10,000 per month.

Merchant Advanced Pricing

The Advanced plan is a month-to-month agreement with no early termination fees, no setup fees, a $39 monthly fee, and a custom interchange-plus rate plus $0.20. This plan is intended for merchants who process more than $10,000 per month. Both plans come with a dormancy fee of $50 per inactive month and a chargeback fee of $25 per incident.

Virtual Terminal and Payment Gateway Pricing

In addition to its storefront payment processing services, Merchan also dedicates a portion of its website that advertises its virtual terminal and payment gateway services. According to the company’s website, its respective transaction rates for its Starter and Advanced Plans apply to its e-commerce services.

No Red Flags

We are unable to locate any merchant complaints that mention excessive charges or unreasonable contract terms from the company. Merchant’s pay-as-you-go pricing is a low-commitment option that may compete with even the cheapest merchant accounts for certain international businesses. This has earned the company an “A” rating in this category for now.

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Response from Merchant

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Merchant Complaints & Customer Reviews

Key Points

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

No Public Complaints

We are unable to locate any negative Merchant reviews at this time, and there is no indication that the company is a ripoff or a scam. The only available reviews of the company are positive in tone. We do not place much weight on positive reviews because they can be easily faked by a reputation management firm, but they certainly don’t hurt the company’s score at this time.

Merchant Lawsuits

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

Merchant Customer Support Options

Merchant offers live phone and email support to all of its merchants. This meets our expectations of the top-rated payment processors for great customer service.

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Response from Merchant

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Merchant BBB Rating Summary

No Profile Available

The Better Business Bureau does not maintain a profile for Merchant at this time. We therefore will not factor a BBB rating into this review.

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Response from Merchant

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Truth In Marketing & Advertising

Key Points

Employs Independent Resellers Yes
Advertises Deceptive Rates No
Discloses All Important Terms Yes

Inside/Outside Sales Team

Merchant appears to hire both in-house and independent sales agents to market its services. The use of outside agents is commonly linked to elevated complaint rates, but we are currently unable to locate any Merchant complaints that accuse the company of nondisclosure or misrepresentation. If you suspect that Merchant is overcharging you, then you can double-check your monthly bill with a third-party statement audit.

Full Rate Disclosure

Merchant posts its full rate schedule on its website, including the interchange rates charged for certain rewards cards. In combination with the lack of complaints and large number of positive merchant reviews, this is a strong indication that Merchant is committed to fair dealing and honest sales practices.

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Response from Merchant

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Merchant Marketing Example

Merchant Logo

Our Opinion of Merchant

A Solid Option for International E-Commerce

Merchant rates as a reliable option for international merchants according to our rating criteria. The company has a clean complaint record and does not appear to engage in deceptive sales tactics. Our rating may be subject to change depending on merchant feedback, and merchants are still encouraged to scrutinize their monthly bills. Merchant may be able to compete with the top-rated multi-currency payment processors.

We rely on your feedback about Merchant to keep this review accurate and up-to-date. Please take a minute to tell us about your experience. We and the small business owners of this world thank you!

Thank you for reading my review. I hope that it has helped you with your research.

Why I'm Qualified to Write About Credit Card Processing and Merchant Account Services

I'm a former credit card processing sales director who left the industry because I didn't like how it takes advantage of small business owners. It feeds like a leech on businesses and thrives by imposing fees that are nearly impossible to comprehend. Seeing a need for change, I left and built this website help business owners better understand the industry, research merchant services providers, and get refunds of excessive merchant account fees. My experience of working "behind the curtain" in the industry, and using that knowledge for good, has resulted in millions of dollars returned to hard-working small business owners as well as enterprise-level companies.

From the time that I starting working in the merchant services industry to when I left to create this website, I've been on the pulse of payments for nearly 15 years. It didn't seem fair to keep this "insider" knowledge to myself. To lift the fog, I've reviewed hundreds of companies, read thousands of user reviews, and learned the pricing tricks of every provider. If you have questions about credit card processing, you can find the answers on this website.

How I Can Help You

I specialize in helping businesses get refunds of excessive fees and have recovered $1,567,184 this year alone! Submit a recent statement below to find out if you are getting overcharged. I'll take a look at it for free. If I find fees that can be refunded, hire me on contigency. I only get compensated if I put money back into your pocket.

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