MerchantPlus Reviews & Complaints
Overview
In this article, we offer an in-depth review of MerchantPlus, a notable merchant account provider, focusing on key areas like rates and fees, contract terms, and customer experiences. We assess their payment processing services, including mobile and e-commerce solutions, and delve into their security measures and fraud protection. The effectiveness of their recurring billing system and the quality of customer support are also evaluated. Insights into the company's location, ownership, and legal standing, including the Visa & MasterCard lawsuit settlement, are provided. We conclude with a balanced perspective, highlighting the pros and cons based on customer and employee feedback, giving readers a comprehensive understanding of what to expect from MerchantPlus.
About MerchantPlus
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.
Mobile Payments
With the growing popularity of mobile payments, MerchantPlus provides businesses with the tools needed to accept payments through smartphones and tablets. This feature allows businesses to offer customers a convenient and modern payment option, enhancing the overall shopping experience.
E-commerce Integration
MerchantPlus ensures seamless integration with popular e-commerce platforms, making it easy for businesses to set up and manage their online stores. The integration process simplifies the online checkout experience, ensuring that customers can complete their transactions with ease.
Security and Fraud Protection
MerchantPlus prioritizes security by implementing advanced fraud protection measures and utilizing cutting-edge encryption technology. This approach helps safeguard businesses and their customers from potential fraudulent activities, ensuring a secure transaction environment.
Recurring Billing
For businesses that offer subscription services or require recurring payments, MerchantPlus provides a convenient recurring billing feature. This service simplifies the billing process and ensures timely collection of payments, contributing to better cash flow management.
Customer Support
MerchantPlus is committed to providing exceptional customer support for businesses using their services. With a dedicated team of experts, businesses can count on timely assistance and guidance to address any concerns or issues they may encounter while using MerchantPlus's payment processing solutions.
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
| Pros: | Cons: |
|---|---|
| Mobile App Availability | Requires Separate Card Approvals |
| Competitive Rates (2.15%) | Monthly Fees Apply |
| No Contract Term | Equipment Leasing Required |
| Transparent Pricing | Complaints About Service Quality |
| Multiple Gateway Options | Non-Disclosure of Fees |
| International Processing | Potential High Transaction Costs |
MerchantPlus Customer Reviews
Here's What Their Clients Say
| Total Online Complaints | <10 |
|---|---|
| Live Customer Support | Yes |
| Most Common Complaint | N/A |
| Recent Lawsuits | No |
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 Legal Matters and Penalties
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.
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.
MerchantPlus Customer Service Number
- (800) 546-1997 – Toll-Free Customer Support
Other Support Options
- Live chat
- Customer support email addresses
- [email protected] – Customer Support
- [email protected] – Sales
- [email protected] – Reseller Support
MerchantPlus Online Ratings
Here's How They Rate Online
| BBB Reports | 2 |
|---|
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.
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.
MerchantPlus Fees, Rates & Costs
A Closer Look at The Contract
| Cancellation Penalties | Yes |
|---|---|
| Monthly & Annual Fees | Yes |
| Processing Rates | Interchang-plus |
| Equipment Leasing | Yes |
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 Employee Reviews & Sales Tacitcs
Should You Work For Them?
| Uses Independent Resellers | Yes |
|---|---|
| Telemarketing | No |
| Misleading Marketing | 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 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.
Our MerchantPlus Review Summary
Our Final Thoughts
MerchantPlus rates as an average credit card processing 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.
If you found this article helpful, please share it!
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 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.
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Lucas
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