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A UK-Based Merchant Account Serving the EU
Founded in 2005, MerchantScout is a merchant account provider based in the UK that also serves international merchants in the EU. According to the company’s website, it offers a payment gateway for e-commerce merchants, POS solutions for in-store payments, MOTO processing, and services for high risk merchants.
MerchantScout partners with banks around the UK and EU to be able to provide its merchants with interchange-plus pricing. According to its website, the company has a network of 40-plus acquiring banks and can process payments in over 150 currencies by way of more than 30 different methods. Additionally, MerchantScout’s approach of hiring dedicated agents to serve accounts with everything from 24/7 customer support, fraud prevention, and application integration services conveys its full-service business model.
Location and Ownership
MerchantScout is headquartered at Dashwood House L17, 69 Old Broad Street, EC2M 1QS London while also maintaining an office in continental Europe located at Gustav Mahlerplein 2, 1082 MA, Amsterdam. The company utilizes a worldwide network of over 40 acquiring banks.
MerchantScout Review Table of Contents
- Costs & Contract: MerchantScout offers merchants both interchange-plus and tiered pricing options that may include an early termination fee. The company also provides a payment gateway to e-commerce merchants.
- Complaints & Service: MerchantScout has received fewer than 10 public complaints.
- BBB Rating: The Better Business Bureau does not maintain a profile for MerchantScout at this time.
- Sales & Marketing: MerchantScout does not employ independent resellers and has not received any complaints about its in-house sales practices.
- Rates & Fees: How Merchants Got The Best Rates With MerchantScout.
MerchantScout Customer Reviews
Here's What Their Clients Say
|Total Online Complaints||<10|
|Live Customer Support||Yes|
|Most Common Complaint||N/A|
Low Complaint Total
There are no negative reviews about MerchantScout available online. Consequently, there are no online complaints accusing the company of being a scam or fraud.
We have not found any outstanding class-action lawsuits or FTC complaints filed against MerchantScout. Dissatisfied merchants who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations.
MerchantScout Customer Support Support Options
MerchantScout prides itself on responsive dedicated customer support via a 24/7 dedicated phone line, live chat, and email address. The company also provides dedicated agents to assist with merchants with onboarding support as well as troubleshooting. The extent of these options is as comprehensive as what the best merchant accounts for customer service offer.
An “A” Overall
Given the company’s clean complaint record, unblemished legal history, and comprehensive support options, MerchantScout receives an “A” rating in this category.
MerchantScout Online Ratings
Here's How They Rate Online
No BBB Profile Available
The Better Business Bureau does not maintain a profile for MerchantScout due to its location in the UK. We therefore will not factor a BBB rating into this review.
MerchantScout Fees, Rates & Costs
A Closer Look at The Contract
|Swipe Rate||0.95% - 5.50% + €0.10 - €0.25|
|Keyed-in Rate||0.95% - 5.50% + €0.10 - €0.25|
|Interchange Rate||Interchange + 0.50% + €0.10 - €0.25|
|High Risk Rate||1.45% - 5.50% + €0.25|
|High Risk Interchange Rate||Interchange + 1.00% + €0.25|
|Virtual Terminal Rate||Interchange + 0.50% + €0.10 - €0.25 or 0.95% - 5.50% + €0.10 - €0.25|
|Payment Gateway Fee||None|
|High Risk Payment Gateway Fee||€20 Per Month|
|Setup Fee||€0 - €100|
|High Risk Merchant Account Setup Fee||€100|
|Early Termination Fee||None|
|PCI Compliance Fee||None|
|Monthly Maintenance Fee||€0 - €20|
|Annual Bank Registration Fee||€0 - €950|
|High Risk Annual Bank Registration Fee||€500 - €1,000|
|Equipment Lease Cost||€18 - €35 Per Month|
Extensive Rate and Fee Schedule
Though the length of the contract term with MerchantScout is not disclosed on its website, the company provides a detailed rate and fee structure. Tiered pricing for standard risk merchants ranges from 0.95% to 5.50% plus €0.10 to €0.25 while interchange pricing being at interchange plus 0.50% plus €0.10 to €0.25.
It does not appear that the company charges an early termination fee of PCI compliance fee. However, standard risk merchants are charged a setup fee of up to €100. Additionally, merchants are charged a monthly maintenance fee of up to €20 and an equipment lease fee of between €18 and €35 per month. The most costly fee associated with a MerchantScout account is its annual bank registration which can cost merchants anywhere up to €950.
High Risk Pricing and Fees
Merchant Scout simultaneously maintains an equally extensive rate and fee schedule that applies strictly to its high risk merchant accounts. Tiered pricing for high risk merchants ranges between 1.45% to 5.50% plus €0.25 while interchange-plus pricing costs Interchange plus 1.00% plus €0.25. High risk merchants are also charged a payment gateway fee of €20 per month, a setup fee of €100, and a more costly annual bank registration between €500 – €1,000.
Virtual Terminal and Payment Gateway Pricing
In addition to its storefront payment processing services, MerchantScout also dedicates a portion of its website that advertises its virtual terminal and payment gateway services. However, pricing on either of those services is not disclosed. The company lists a multitude of support shopping cards, so it is possible rates and fees vary based on which one a merchant utilizes. Conversely, the company’s standard rates, as well as additional fees, may apply to these e-commerce services.
Though the company charges a multitude of fees that are costly in some cases, the transparency of its rate and fee structure reflects well on MerchantScout. As does the fact that it reserves interchange-plus pricing as an option for all merchants, including those categories as high risk. For these reasons, MerchantScout receives an “A” in this category.
MerchantScout Employee Reviews & Sales Tacitcs
Should You Work For Them?
|Employs Independent Resellers||No|
|Advertises Deceptive Rates||No|
|Discloses All Important Terms||No|
MerchantScout Sales Tactics
The MerchantScout website does not appear to show that the company employs independent resellers. The website does provide automated options to receive a quote from its in-house sales team. The company does not have any public complaints regarding its in-house sales practices.
Transparent Interchange-Plus Rates and Robust Banking Network
MerchantScout does not advertise any misleading information about its rate or fee structure. In fact, the company clearly discloses the rates it charges to both standard and high risk merchants. The MerchantScout website lists current interchange rates as well as the qualified rates its tiered pricing models begin at.
MerchantScout also details its expansive network of acquiring banks throughout the world. These banks are based in the United States, UK, Europe, Australia, the Middle East, and China. The extent of this network allows the company to provide global merchant accounts that can complete transactions in over 150 different currencies through a single platform that accommodates a wide range of payment options from credit cards to peer-to-peer payment platforms and digital wallets.
Serving High-Risk Merchants Across Most Industries
MerchantScout also dedicates a portion of its website which markets its services to high risk merchants. The company emphasizes its commitment to provide merchant accounts to companies selling adult services, from webcam channels to adult toy sales and payment processing for merchants who run online casinos and sportsbooks. The company details the requirement for merchants to possess a gambling license and provides a list of prohibited countries.
MerchantScout also lists several other high risk industries that it extends its services to. The company offers these merchants the choice between a tiered or interchange-plus pricing model, as it does with its standard risk accounts.
A “B” Overall
MerchantScout’s choice to not incorporate an independent reseller program and the absence of any complaints against its in-house sales practice reflects well on the company. As does the detailed offering of high risk industries it serves, its expansive network of banking partners, and its transparent rates. The combination of these factors merits that the company receives an “A” in this category.
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