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Merchant One is a Miami, Florida-based independent sales arm of United Bank Card that uses First Data (now Fiserv) as its backend processor. Merchant One has recently rebranded its logo and revamped its website to make the claim that it serves more than 100,000 merchants. In December 2022, Merchant One was purchased by Fiserv, the largest company in the credit card processing industry.
Merchant One Payment Processing
Merchant One provides credit card and debit card processing services for nearly any need and has an iPhone app for wireless processing. They also offer POS systems, swipers, a virtual terminal, recurring payments, a customer vault, analytics and reporting, gift and loyalty programs, marketing campaigns, PCI compliance, check processing, e-commerce solutions including shopping carts, cash advances, B2B programs, and 24-hour support.
Virtual terminals are an essential component of any modern business that wants to accept credit card payments. Merchant One offers virtual terminals that allow businesses to process payments online, by phone, or by mail order. The virtual terminals are easy to set up and use, and they come with all the features that businesses need to manage their transactions securely.
Merchant One offers a variety of POS systems that enable businesses to accept payments in-store. Their POS systems are easy to use and come with a range of features that make managing transactions simple and efficient. Businesses can choose from a range of hardware options to meet their specific needs.
Mobile payments are an essential feature for businesses that are always on the go. Merchant One offers mobile payment solutions that allow businesses to accept payments using their mobile devices. The mobile payment solutions are easy to use and come with all the security features that businesses need to protect their customers’ data.
Gift Card Programs
Gift card programs are an excellent way for businesses to increase sales and customer loyalty. Merchant One offers gift card programs that are fully customizable, allowing businesses to design their own gift cards and track sales data in real-time.
Merchant Cash Advance
Merchant One offers merchant cash advances to businesses that need quick access to capital. Merchant cash advances are an excellent alternative to traditional loans because they are easy to qualify for and provide businesses with the funds they need to grow.
Location & Ownership
Jim Saka is listed as the CEO at Merchant One, which is headquartered at 524 Arthur Godfrey Rd 2nd and 3rd floor, Miami Beach, Florida 33140. Merchant One is a registered ISO/MSP of Wells Fargo Bank, N.A., Concord, California, and Fifth Third Bank N.A, Cincinnati, OH, USA. The company should not be confused with One For Merchants, a wholly separate merchant account reseller.
Table of Contents
- Costs & Contract: Appears to offer a three-year contract through First Data (Fiserv) with an early termination fee of up to $750 and…
- Complaints & Service: Has received more than 100 public complaints regarding…
- BBB Rating: Has two profiles with the Better Business Bureau. It has an “A+” rating and has received 57 complaints and 37 reviews in regard to…
- Sales & Marketing: Appears to hire independent sales agents and has received a high number of complaints about its…
Merchant One Reviews and Complaints
Here's What Their Clients Say
Total Online Complaints
Live Customer Support
Most Common Complaint
High Complaint Total
It is evident that the dispute resolution process at Merchant One needs improvement because there are over 120 negative Merchant One reviews across several consumer protection websites, and several of them accuse the company of being a scam or ripoff. This is a moderate-to-high number of complaints in comparison to other providers of its size. Most problems seem to center around businesses feeling as though they were deceived by the company’s advertising and sales processes. Many also complain of undisclosed fees and undisclosed contract terms during account setup and high cancellation fees. If you have your own Merchant One review to make, please do so in the comments below.
Merchant One Lawsuits
In March 2021, an individual brought a suit against Merchant One that alleges that they continued to report a debt to credit reporters despite his disputing it. The suit is ongoing. 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 One Customer Support Options
To its credit, Merchant One provides a customer support number for businesses, but it’s unclear whether this line is serviced by Merchant One itself or by First Data (Fiserv).
Merchant One Customer Service Numbers
- (800) 910-8375 – Toll-Free General Customer Service
- (800) 610-4189 – New Accounts
Other Support Options
- Customer support form on website
- [email protected] – Customer Support
- [email protected] – Information
Merchant One’s support channels are currently not sufficient to qualify it as a top-rated payment processor for customer service.
Merchant One BBB Rating and Report
Our Better Business Bureau Profile Assessment
See Which Processors Offer No Monthly Fees And No Contracts.
Note: We have adjusted this company’s BBB rating according to our own standards. To better understand why we adjust BBB ratings, please see our Rating Criteria.
Over 50 Complaints
As of this review, the BBB is reporting an “A+” rating for Merchant One despite receiving 57 complaints over the last 36 months. Only 19 of these 57 complaints were resolved by the company to the satisfaction of the merchant. The remaining 38 were resolved to the dissatisfaction of the merchant or received no final response.
What Merchants Say
In addition to those 57 complaints, the company’s BBB profile has also received 37 informal reviews. 9 of those reviews are positive, and the remaining 28 are negative. The most recent negative review mentions unexpected charges:
I switched to this company in Aug 2022 with a promise of $50/month saving by *******************. I was worried about it but i was assured it would be fine. He rushed me through the contract online signing process and I didn’t see this spot that I would have to pay $99 annual fee I was never told about and I was never charged by previous CC company in past 6 years. So now I am spending MORE money with this company. So since Aug 2022, i had to pay $99 for four months worth of service. I tried to get them to do a partial refund but they refused to. With my math with prevous statements, even without the $99 annual fee, i was still not saving any money but spending more than I did.I want to get out of this company ASAP but I want to be assured that I will not be charged with any termination/cancellation fee a long with another hit for $99 but they haven’t been responding to my emails.
Merchants in this position can cancel their service by taking the proper steps to close their account without paying a fee.
A “B” Performance Overall
Based on Merchant One’s complaint count, resolution ratio, and business size, we are adjusting the rating of this section to a “B” for the purposes of this review.
Merchant One Fees and Rates
A Closer Look at the Contract
Don't Fall Into An Expensive Trap. See Who The Worst Processors Are.
Monthly & Annual Fees
Merchant One Pricing
Pricing and fees of a Merchant One business account will likely vary by client based on business type, processing volume and the agent setting up the account. Merchant One’s standard merchant account contract can range from three to five years with an early termination fee of $25 per month for the remaining months of the contract term (known as Liquidated Damages), or $295, whichever is greater. This conflicts with the rates advertised on the company’s homepage, which lists an early termination fee of $0.00. Multiple recent complaints mention an early termination fee of $750, indicating that this amount could have gone up. The agreement also references a non-cancellable lease for the term of the contract. We encourage business owners to check out our list of the providers of the best merchant services.
Virtual Terminal and Payment Gateway Pricing
In addition to its storefront payment processing services, Merchant One also dedicates a portion of its website to advertising its virtual terminal and payment gateway services. However, pricing is not disclosed on either of those services. The company does offer over 175 shopping card integrations to merchants. Additional rates and fees, including gateway fees, technical support fees, batch fees, and additional transaction rates typically apply to these e-commerce services.
There are several complaints from clients saying that neither the contract term nor the cancellation fees were disclosed by the agents during the application process, so merchants should be sure to check the document below for the actual text of the ETF (found on page 38). The company also appears to charge an annual PCI Compliance fee of around $100, which conflicts with the PCI fee of $0.00 advertised on its homepage. We will hold the grade to its previous rating and update this section as more information regarding Merchant One’s contract policies becomes available. Business owners are advised to compare the company’s pricing to the cheapest merchant account providers for the best chance at savings. See the Merchant One Program Guide.
Merchant One Jobs and Employment
Hiring Standards and Ethical Marketing Assessment
Audit Your Current Statement To Find Its Hidden Fees
Processing statements are intentionally complicated so that they can overcharge you. Get clarity before you switch.
Uses Independent Resellers
Discloses All Important Terms
Misleading Rate Quotes
We have found a few instances of misleading marketing and reports of deceptive sales tactics attributed to Merchant One. In the past, Merchant One promoted processing rates starting at 0.39% on its homepage as well as through online advertisements we found. Currently, the company’s homepage quotes low rates “starting at 0.29%.” Not only do these quoted rates set unrealistic expectations, but only a tiny fraction (if any) of a merchant’s transactions would qualify for them. The site fails to mention what type of transaction qualifies for this transaction rate or whether merchants will experience additional fees outside of that rate. This does not compare favorably to our list of best credit card processors.
Widespread Sales Complaints
In addition to the misleading rate promotion, Merchant One’s website used to state that merchants “will not be subject to any long-term agreement” and “are absolutely free to cancel their services with us at any time—for any reason.” Based on Merchant One complaints describing cancellation fees ranging from $200-$300, this claim was either a new policy or a complete falsehood. As of this update, these claims appear to have been removed from the Merchant One website, indicating that they might not have been completely truthful. Although the company has removed these specific claims, we are still awarding it a “D” based on the large number of complaints that the company has received and the rate quotes described above. If you suspect that Merchant One is charging you undisclosed fees, we recommend seeking a third-party statement audit to find and eliminate hidden charges.
Merchant One Review Summary
Our Final Thoughts and Opinions
Merchant One is a large credit card processing provider and credit card processor. Several Merchant One reviews complain of high fees and deceptive marketing tactics which has had a negative impact on its rating for this review. Although the majority of Merchant One’s customers are probably satisfied, this company has a high number of complaints compared to other processors of its size. That, coupled with the resounding themes of non-disclosure and misleading rate promotion, makes it tough to score this merchant services provider well. Business owners considering a merchant account with Merchant One are advised to thoroughly read and understand the terms of the contract before signing. Other business owners may feel more comfortable opting for a top-rated credit card processor.
Customer & Employee ReviewsWhat Others Are Saying About Merchant One