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MerchantPlus Review: Fees, Comparisons, Complaints & Lawsuits

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see who will offer you the lowest pricing and best service

Rating

3/5
MerchantPlus Logo
Website
see who will offer you the lowest pricing and best service
(800) 546-1997

Most Recent Comment

  • Garry Marino:
    "Taking $196 from me 2 months in a row, over and above all of my authnet fees ($30), Merchant Plus ($30 monthly) and fee and about $70 in perc..." Read More
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Rating:
3/5

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View Pricing
(800) 546-1997

Most Recent Comment

  • Garry Marino:
    "Taking $196 from me 2 months in a row, over and above all of my authnet fees ($30), Merchant Plus ($30 monthly) and fee and about $70 in perc..." Read More
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Serving Multiple Business Types

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.

MerchantPlus Payment Processing

MerchantPlus processes all major debit and credit cards for most business types. Their services include EMV card readers and swipers, POS systems, mobile solutions, e-commerce solutions, ACH processing, access to a variety of payment gateways including its proprietary NaviGate gateway, a number of business management apps, the RateAssure variable rate program (based on volume), and international payments.

MerchantPlus Location & Ownership

The company website lists its headquarters at 30 Vesey St., 9th Floor New York, New York 10007. MerchantPlus, LLC is a registered ISO/MSP of Wells Fargo Bank, N.A., Concord, California. Its international/high-risk processing is offered through Global Card Solutions. Zachary Smith is listed as the founder and president of MerchantPlus.

Video Summary

MerchantPlus Review Table of Contents

  • Costs & Contract: Offers 2 plans without any contracts and interchange-plus pricing through its proprietary payment gateway which is compatible with…
  • Complaints & Service: Has received fewer than 10 public complaints regarding…
  • BBB Rating: Currently has an “A-” rating with the Better Business Bureau but has received 2 complaints in regards to…
  • Sales & Marketing: Does not appear to rely on independent sales agents and has received a few complaints about its…
MerchantPlus payment processing
MerchantPlus offers a variety of payment processing services

Is the BBB Rating for MerchantPlus Accurate?

Better Business Bureau Profile

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see who will offer you the lowest pricing and best service

BBB Summary

Product & Service Complaints 0
Billing & Collection Complaints 2
Advertising & Sales Complaints 0
Guarantee & Warranty Complaints 0
Delivery Complaints 0

Unaddressed Complaints

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. Both complaints were billing or collections issues. Neither of these 2 complaints were resolved by the company to the satisfaction of the merchant.

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.

How Expensive is MerchantPlus?

Rates, Fees, and Contract Terms

This processor offers the lowest rates and best service we've seen

Cost Summary

Swiped Rate Interchange + 0.30% + $0.25
Keyed-in Rate Interchange + 0.30% + $0.25
Enterprise Plan Rate Interchange + 0.20% + $0.20
Payment Gateway Fee Undisclosed
Advance Plan Fee $30 Per Month
Enterprise Plan Fee $299 Per Month
Early Termination Fee $295+
PCI Compliance Fee Undisclosed
Equipment Lease Terms 36 Month (locked)

Virtual Terminal and Payment Gateway Pricing

MerchantPlus advertises its virtual terminal and payment gateway services called the NaviGate Gateway. Though the gateway is compatible with Authorize.Net, the pricing listed on the company’s website discloses interchange-plus pricing in place of the 2.90% plus $0.30 rate charged by Authorize.Net. The Plans & Pricing page on the MerchantPlus website lists two tiers of service for different monthly rates. For $30 per month, merchants can receive the Advanced plan, which offers interchange-plus pricing at a markup of 0.30% plus $0.30 per transaction. For $299 per month, large merchants can receive the Enterprise plan, which charges a smaller Interchange-plus markup beginning at interchange plus 0.20% and $0.02. According to the company, neither plan comes with a contract or early termination fee.

Both plans are also subject to MerchantPlus’ RateAssure program, which gradually reduces merchants’ interchange-plus markup from 0.30% for merchants processing under $100,000 per month down to 0.10% for merchants processing over $5,000,000 per month. The program’s terms and conditions also enforce a long-term, non-cancellable equipment lease.

Industry-Average Pricing

Overall, the company’s terms appear to hover around the industry average, and a good portion of available MerchantPlus reviews specifically complain about unexpectedly pricey contract terms. The low overall number of complaints suggests that many merchants do not encounter difficulties with their service, but the terms themselves have lowered the company’s score in this category. We do not consider MerchantPlus to be competitive with the cheapest merchant accounts at this time. We also encourage merchants to check out our list of the providers of the best merchant accounts.

MerchantPlus payment gateway
MerchantPlus offers access to a variety of payment gateways

Does MerchantPlus Use Deceptive Marketing?

Advertising & Sales Strategy

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Key Points

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

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 merchants 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 merchants 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 merchants, 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.

Does MerchantPlus Deserve Your Business?

Review Summary & Our Thoughts

An Average Processor for Most Merchants

MerchantPlus rates as an average merchant services provider according to our rating system. The company’s use of iPayment as its credit card processor appears to be responsible for the bulk of its complaints. The company’s overall rating could improve once it corrects the issues cited on its BBB profile and elsewhere. MerchantPlus does not qualify as a top-rated merchant account provider at this time.

5-Star Rated MerchantPlus Competitors

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About The Author

Phillip Parker is a Payments Industry Analyst and creator of this blog, CardPaymentOptions.com. Phillip is passionate about researching merchant service providers and payment industry trends. He is often quoted as an expert source in national publications such as INC Magazine, The Los Angeles Times, Entrepreneur, and many others.

“I started this blog because I was disgusted by the business practices of the merchant services industry. I wanted to empower business owners by providing insight on how to avoid shady merchant account providers and costly credit card processing mistakes.” 

Phillip’s Processor Comparisons

Picking a credit card processor can be a headache, but we’ve made it easy. Phillip recommends comparing the best merchant services providers we’ve researched.

Audit Your Merchant Account

When was the last time you had your rates audited by someone who wasn’t also trying to sell you credit card processing services? We support this website by helping business owners understand how to cut their processing costs, either with a new processor or their current one. Learn more.

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This processor offers the lowest rates and best service we've seen

What Others Are Saying About MerchantPlus

Customer & Employee Reviews

2 Responses

  1. Taking $196 from me 2 months in a row, over and above all of my authnet fees ($30), Merchant Plus ($30 monthly) and fee and about $70 in percentage charges. Then out of no where $196. Have called and left 3 messages with this office in NY
    Merchant Plus, LLC
    30 Vesey Street, 9th Floor
    New york, NY 10007
    (800) 546-1997

    No response. Charged my $196 2 months in a row, no explanation, no call back. Stay away from these people. Contesting the charges now.

    From The Editor
    This Post Might Help: Let Us Eliminate Fees From Your Contract For You

    Reply

  2. Never do business with company, lots hidden charges and you can never cancel their services. This is the second month I am trying to contact them and they are still charging me for Discovery even after closing the account with them. I mean big bucks. Zachary is a scam! I had to change my entire bank account because of these guys

    Reply

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