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Is MerchantPlus the Right Processor for Your Business?

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Maintained Since: October 11, 2012

We take our role in providing guidance and education regarding the card payment industry very seriously. At our own expense, we have vigorously defended our right to continue expose unethical and predatory practices in the industry, successfully defeating every attempt to silence us. However, fending off frivolous lawsuits is costly. To sustain these efforts, one of the ways we generate revenue is through affiliate partnerships with ethical providers. This means that some of our outgoing links connect business owners to trustworthy, low-cost payment processors, which is what most of our readers seek. We see this revenue channel as a win-win-win for everyone involved. Business owners find good processors, processors get good clients, and we are able to continue to provide a valuable service to the small business community. We also recommend and link to many services that do not compensate us. Our priority is to guide you to the best solutions for your needs, regardless of potential revenue. If you have questions, please feel free to contact us.

All mentions of rate and fee costs are estimations based on publicly available information and client feedback. Actual costs may vary based on a variety of factors unique to your business.

MerchantPlus
Rating
C
3/5
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Pros

Mobile App Availability
Competitive Rates (2.15%)
No Contract Term

Cons

Separate Card Approvals
Monthly Fees Apply
Equipment Leasing Required
Service Quality complaints
Non-Disclosure of Fees

Overview

In this review of MerchantPlus, a well-known merchant account provider, we take a detailed look at their rates, fees, contract terms, and overall customer experiences. Our analysis covers their payment processing solutions, including mobile and e-commerce options, as well as their security measures and fraud protection to evaluate how effectively they safeguard transactions. We also assess the functionality of their recurring billing system and the quality of customer support. In addition, the review examines company details such as location, ownership, and legal standing, including the outcome of a Visa and MasterCard lawsuit settlement. By weighing both pros and cons drawn from customer and employee feedback, this article provides a balanced overview to help businesses understand what to expect when working with MerchantPlus.

About MerchantPlus

Screen Capture of MerchantPlus Homepage
MerchantPlus Homepage

MerchantPlus, founded in 2003, is a U.S.-based merchant account provider focusing primarily on multi-platform, enterprise solutions, small-businesses, mobile payments, and global currency. The company offers its own payment gateway which is compatible with Authorize.Net.

Products & Merchant Services

Payment Processing Services

MerchantPlus handles payment processing for all major debit and credit cards across various business types. Their services include EMV card readers and swipers, POS systems, mobile solutions, e-commerce solutions, ACH processing, and access to multiple payment gateways, including their proprietary NaviGate gateway. They also offer business management apps, the RateAssure variable rate program (based on volume), and international payment processing.

Mobile Payments

As mobile payments become increasingly popular, MerchantPlus equips businesses with the necessary tools to accept payments via smartphones and tablets.

E-commerce Integration

MerchantPlus supports seamless integration with widely used e-commerce platforms, facilitating easy setup and management of online stores.

Security and Fraud Protection

MerchantPlus emphasizes security by employing advanced fraud protection measures and sophisticated encryption technology.

Recurring Billing

For businesses offering subscription services or requiring recurring payments, MerchantPlus offers a recurring billing feature. This service streamlines the billing process and ensures timely payment collection.

Customer Support

MerchantPlus provides consistent customer support, with a dedicated team available to assist businesses. This support ensures that businesses can receive timely help and guidance to address any issues or concerns with their payment processing solutions.

Customer Reviews & Sentiment

Minimal Complaint Volume

We have located fewer than 10 negative reviews of MerchantPlus, with some customers accusing the company and its former payment processor, iPayment, of engaging in fraudulent or scam practices. Common grievances include the non-disclosure of rates and fees, particularly the early termination fee, unresponsive or unsupportive customer service, and fund withholding. While one MerchantPlus review received a response from a company representative, it did not lead to a resolution of the customer’s concerns. If you have your own review of MerchantPlus to share, please feel free to do so in the comments below.

iPayment-Specific Concerns

Many complaints seem to target iPayment rather than MerchantPlus. While mentioning MerchantPlus, customers often draw a distinction between the quality service from MerchantPlus and the poor service from iPayment. Prior to its absorption into Paysafe, iPayment was rated as one of the worst merchant account providers in the industry. It is our belief that ISOs are accountable for the services they resell, similarly to how major processors are responsible for their ISOs’ conduct.

MerchantPlus Customer Support Options

The complaint rate for MerchantPlus appears to be lower than average for its size and tenure in the industry, and the company appears to handle its own accounts via live chat, email, and phone support channels.

Industry Scores & User Ratings

Online Ratings Summary
PaymentPop5
BBB RatingN/A

PaymentPop Rating for MerchantPlus

Negative Feedback

There are no positive reviews published about MerchantPlus on the PaymentPop website.

Positive Feedback

MerchantPlus made integrating payments into our online store incredibly easy. Their API worked well with our existing platform, and their team was there every step of the way. It’s been reliable, fast, and backed by responsive support which is exactly what we needed.

MerchantPlus BBB Rating

MerchantPlus is not an accredited business of the Better Business Bureau and scores an “A-” rating at the time of this review. 2 complaints have been filed against the company in the past 36 months.

An “A” Performance Overall

While we do not look favorably upon a company that fails to address complaints, we agree with the BBB’s rating of an “A” in light of the company’s low complaint volume.

Processing Rates & Fees

Virtual Terminal and Payment Gateway Pricing

MerchantPlus promotes its virtual terminal and payment gateway services known as the NaviGate Gateway. While the gateway is compatible with Authorize.Net, the pricing displayed on the company’s website reveals interchange-plus pricing rather than the 2.90% plus $0.30 rate charged by Authorize.Net. On the Plans & Pricing page of the MerchantPlus website, two tiers of service are listed for different monthly rates. For $30 per month, businesses can opt for the Advanced plan, providing interchange-plus pricing at a markup of 0.30% plus $0.30 per transaction. The Enterprise plan, priced at $299 per month, caters to larger companies with a smaller interchange-plus markup starting at interchange plus 0.20% and $0.02. According to the company, neither plan entails a contract or early termination fee.

Both plans are enrolled in MerchantPlus’ RateAssure program, which progressively reduces a business’ interchange-plus markup from 0.30% for clients processing under $100,000 per month to 0.10% for clients processing over $5,000,000 per month. The program’s terms and conditions also stipulate a long-term, non-cancellable equipment lease.

Industry-Average Pricing

Overall, the terms offered by the company seem to align with industry norms, with many available MerchantPlus reviews mentioning unexpectedly costly contract terms. While the overall number of complaints is relatively low, indicating that many business owners don’t encounter issues with their service, the terms themselves have affected the company’s score in this category. Currently, MerchantPlus isn’t considered competitive with the cheapest merchant accounts. We also encourage merchants to explore our list of the providers offering the best merchant accounts.

MerchantPlus payment gateway
MerchantPlus provides access to various payment gateways

Lawsuits & Legal History

No significant class-action lawsuits or FTC complaints have been found against MerchantPlus. Dissatisfied clients seeking non-litigious resolutions against the company should consider reporting their concerns to the relevant supervisory organizations.

Employee Reviews & Sales Practices

Some Sales Complaints

MerchantPlus appears to utilize an affiliate program and its website to market its services. It is unclear as of this review whether the company employs independent sales agents. We are currently able to locate a handful of negative MerchantPlus reviews that accuse the company’s sales agents of nondisclosure of fees. This does not compare favorably to our list of best credit card processors.

Issues with iPayment

In most of the company’s sales complaints, it seems as if the MerchantPlus sales agents were helpful and forthright when setting up the account, but once it was handed over to iPayment, the clients saw a dramatic shift in quality of service and rates. This would seem to reflect poorly on iPayment more so than MerchantPlus, but it must be noted that MerchantPlus is the party that is actively setting up clients with these accounts. Complaints that mention iPayment tend to be over three years old; it is possible that MerchantPlus only resells for BluePay now that iPayment has been absorbed into Paysafe.

Interchange-Plus Pricing

As a point in its favor, MerchantPlus promotes interchange-plus pricing for all businesses, which is the most transparent pricing model available. However, if you suspect that MerchantPlus is charging you undisclosed fees, we recommend seeking a third-party statement audit to eliminate those costs.

MerchantPlus Competitors

Compare MerchantPlus to competitors that earned top marks.

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Bottom Line

MerchantPlus emerges as a notable entity in the realm of merchant account providers, offering a range of services geared towards enhancing multi-platform payment solutions for businesses large and small. Key aspects of their offerings include mobile and e-commerce solutions, integration with a variety of payment gateways, and innovative security measures to combat fraud. Particularly commendable is their proprietary NaviGate gateway, which supports seamless e-commerce activities. While the company is praised for its advanced technological solutions and customer support, there are notable grievances concerning their partnership with iPayment and the subsequent service decline post-transition, highlighting potential risks involved in their collaboration.

For those considering MerchantPlus for their business needs, it’s crucial to navigate the company’s service offerings with a detailed understanding of their contract terms and pricing structure. Despite some positive feedback, the mix of customer reviews and the company’s history with iPayment suggest a need for cautious evaluation. Prospective clients should thoroughly assess how MerchantPlus’s solutions align with their specific business requirements and consider the broader implications of their service agreements, particularly in terms of long-term costs and support quality. While MerchantPlus does offer competitive interchange-plus pricing, the overall satisfaction of their service will depend heavily on individual business needs and the effectiveness of their chosen solutions.

Read Actual User Reviews

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Contact MerchantPlus

Contact & Customer Support
Founder and PresidentZachary Smith
Headquarters30 Vesey St., 9th Floor New York, New York 10007
Toll-Free Customer Support(800) 546-1997
Websitemerchantplus.com