In this review of Merchant Advocate, we provide a detailed overview of the company's services aimed at reducing credit card processing fees for businesses. We will discuss the range of services offered, including fee audits, contract renegotiations, and ongoing monitoring. We will also identify the types of businesses that may benefit from these services. Additionally, we will examine client and customer reviews to highlight common trends and potential concerns. We will cover the company's pricing structure, contract terms, and the specifics of the services provided. By the end of this article, you will have a clear understanding of whether Merchant Advocate meets your needs for managing credit card processing fees.
About Merchant Advocate
Merchant Advocate is a merchant account contract negotiation service headquartered in Jersey City, New Jersey. Founded in 2007, the company negotiates on behalf of U.S. businesses to guarantee lower rates and higher quality service without having to switch payment processors. Merchant Advocate does not appear to be affiliated with any specific merchant services provider or acquiring bank, as the company generates revenue by taking a percentage of the savings it produces for each client. The company advertises MLS Club Los Angeles FC, MLB's Boston Red Sox, Outfront Media, Scotts Lawncare, and Harley Davidson as clients it has helped save money on merchant services.
Merchant Advocate begins by thoroughly analyzing a business's current credit card processing expenses. This involves a detailed examination of the statements to identify any potential overpayments.
Negotiation and Monitoring Service
After the analysis, Merchant Advocate negotiates with the existing processor to lower rates and eliminate unnecessary fees. If the negotiation is successful, Merchant Advocate continues to monitor the account to ensure the savings are maintained over time.
No Savings, No Fee Guarantee
Merchant Advocate operates on a “no savings, no fee” basis, meaning they only charge a fee if they secure savings for the business. This model aligns their incentives with those of their clients.
Merchant Advocate Customer Reviews
Here's What Their Clients Say
Customer Reviews Summary
Total Online Complaints
<10
Live Customer Support
Yes
Most Common Complaint
N/A
Recent Lawsuits
No
Limited Complaints Found
There are only a handful of Merchant Advocate reviews available online currently. One review directly accuses the company of being a scam, although it’s uncertain if the complainant is referring to Merchant Advocate or a similarly named entity, “Merchants Advocates Group,” based in Dallas, Texas. Despite mentioning a partnership with EVO Merchant Services, we found no corroborating evidence online. As such, we consider this incident isolated for now. If you have your own experience with Merchant Advocate, please share it with us in the comments below.
Merchant Advocate provides phone and email contact information directly serviced by the company, aligning with expectations for top-rated merchant accounts known for excellent customer service. This indicates a positive aspect of Merchant Advocate’s operations.
Merchant Advocate Online Ratings
Here's How They Rate Online
Online Ratings Summary
BBB Reports
0
Clean Complaint Record
Merchant Advocate has been an accredited business with the Better Business Bureau since 2008. As of this review, the company has an “A+” rating with the BBB and has had 0 complaints filed against it in the last 36 months. The company has also not received any informal reviews on its BBB profile, although it should be noted that these reviews are not subject to verification by the BBB.
An “A” Performance
Since it is our philosophy that “A” ratings should be reserved for companies with 0 complaints, we agree with the BBB’s rating in this case. However, business owners should note that there are good reasons to be skeptical of BBB ratings.
Merchant Advocate Fees, Rates & Costs
A Closer Look at The Contract
Rates & Fees Summary
Cancellation Penalties
N/A
Monthly & Annual Fees
N/A
Processing Rates
N/A
Equipment Leasing
N/A
Pay a Percentage of What You Save
Merchant Advocate operates on a model where their compensation is derived from a fraction of the savings they achieve for each client monthly. This approach involves negotiating better terms with a client’s existing provider rather than transitioning them to a different service, demonstrating a focus on enhancing current contracts over merely acquiring new sign-ups for a parent entity. Merchant Advocate also commits to ongoing monitoring of a business’s rates throughout the contract term, aiming to prevent any increases in costs by the credit card processor. There is no evidence from reliable sources to suggest that Merchant Advocate fails to fulfill these promises.
Handling the Negotiation For You
For businesses uncertain or inexperienced in negotiating terms, Merchant Advocate offers a valuable service. It’s important for business owners to recognize, though, that Merchant Advocate receives a share of the savings as compensation. This partnership can yield net savings, but with a portion allocated to Merchant Advocate for their negotiation efforts.
Business owners searching for competitive services are advised to explore our curated list of the top merchant services.
Merchant Advocate appears to primarily market its services through its website, through partnerships with various professional associations, and through traditional advertising. It is possible that Merchant Advocate engages in outbound telemarketing or hires independent agents, but the nature of its “no-switch” business model rules out any possibility of sneaky “slamming” tactics. The company does not list specific details of its assessment or negotiation practices in its official materials. However, there are no client complaints that describe underhanded tactics from Merchant Advocate. This compares favorably to our list of best credit card processors.
No Deceptive Rate Quotes
There is no indication at this time that Merchant Advocate uses high-pressure or deceptive sales tactics to market its services. We will therefore award the company an “A” rating in this section for the time being.
Our Merchant Advocate Review Summary
Our Final Thoughts
Merchant Advocate is recognized as a reliable service for negotiating merchant account terms in credit card processing, based on the available information. The company operates on a results-driven model, collecting a portion of the savings it secures on behalf of merchants. This performance-based structure ensures businesses realize net savings while benefiting from Merchant Advocate’s expertise in navigating complex pricing models and securing more favorable rates.
However, businesses that are confident in their negotiation skills may find it beneficial to directly reach out to low-cost merchant account providers themselves. This approach allows them to explore competitive rates independently and negotiate terms that align with their unique needs. Ultimately, the decision should hinge on a merchant’s level of comfort and understanding of the intricacies involved in securing the best rates in the credit card processing industry.
They claim to save money on processing fees, and they do. But they bill us a percentage of the savings each month. Our Management doesn’t seem to realize they have been cheated.
Juan Joann
Merchant Advocate has been an absolute game-changer for my business! Their expertise in reducing credit card processing fees has resulted in significant savings for us. As a small business owner, I was always looking for ways to optimize our expenses, and Merchant Advocate delivered exactly what we needed.
Their team was attentive, thorough, and incredibly professional throughout the entire process. They took the time to understand our unique requirements and tailored their solutions accordingly. The best part is that we didn’t have to go through any complicated procedures; they handled everything seamlessly.
I can’t recommend Merchant Advocate enough to fellow business owners who want to streamline their finances. Thanks to them, we’ve been able to reinvest the saved funds back into our company’s growth. It’s been a pleasure working with them, and we’ll continue to trust them with our financial optimization needs in the future.
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Johnathan
They claim to save money on processing fees, and they do. But they bill us a percentage of the savings each month. Our Management doesn’t seem to realize they have been cheated.
Juan Joann
Merchant Advocate has been an absolute game-changer for my business! Their expertise in reducing credit card processing fees has resulted in significant savings for us. As a small business owner, I was always looking for ways to optimize our expenses, and Merchant Advocate delivered exactly what we needed.
Their team was attentive, thorough, and incredibly professional throughout the entire process. They took the time to understand our unique requirements and tailored their solutions accordingly. The best part is that we didn’t have to go through any complicated procedures; they handled everything seamlessly.
I can’t recommend Merchant Advocate enough to fellow business owners who want to streamline their finances. Thanks to them, we’ve been able to reinvest the saved funds back into our company’s growth. It’s been a pleasure working with them, and we’ll continue to trust them with our financial optimization needs in the future.