Meritus Payment Solutions Review
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.
Meritus Payment Solutions
Rating
Customer Reviews & Sentiment
Meritus has approximately a dozen complaints filed online, most of which have been posted in the comment section of this review. Nearly all of these mention similar problems. Each complaint reports poor customer service, higher-than-quoted fees after signing up, and/or an extremely high cancellation fee (over $10,000). In the case of one complainant, an executive from Meritus contacted us and stated that the $7,600 they reported to be fined was not a cancellation fee but, instead, a cash reserve that the merchant would receive back once the hold had expired. Overall, Meritus has a very low complaint count in comparison to its size, but the mentions of $10,000-plus fund holds have lowered its grade in this section.
Industry Scores & User Ratings
| Product & Service Complaints | 1 |
|---|---|
| Billing & Collection Complaints | 10 |
| Advertising & Sales Complaints | 0 |
| Guarantee & Warranty Complaints | 0 |
| Delivery Complaints | 0 |
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.
As of this review, the Better Business Bureau assigns an “A+” to Meritus, although the profile has only recently emerged from a period of unavailability due to the shuttering of the BBB‘s Los Angeles-area branch. During its downtime, it appears that the profile removed all preexisting complaints from the record. Meritus is currently showing 11 complaints filed in the previous 36 months, with 10 related to billing issues and one due to a product or service dispute. Meritus resolved one complaint to the satisfaction of the merchant, while the remaining complaints were either resolved to the dissatisfaction of the merchant or did not receive a final assessment from the merchant. In light of the company’s complaint total and resolution ratio, we have adjusted the BBB’s rating to an “A-.”
Processing Rates & Fees
Pricing and contract terms with Meritus appear to vary based on a merchant’s business type and processing needs. However, an agent stated that the standard contract with most accounts is 36 months with a $395 early cancellation fee and that nearly all terms are negotiable prior to setting up the account. A copy of the company’s standard contract (available below) lists a termination fee of $350 or Liquidated Damages, whichever is greater, so it appears that Meritus may sometimes charge a very large early termination fee. This is confirmed by merchant complaints alleging termination fees in the thousands of dollars, which is far above the industry standard.
High-risk businesses are likely to have customized contracts designed to protect both parties. Merchants considering Meritus are encouraged to carefully read their contract before signing, especially because the terms may vary depending on numerous factors like the merchant’s business type, time in business, and processing history. See the Meritus Payment Solutions Merchant Agreement.
Meritus Payment Solutions Competitors
Compare Meritus Payment Solutions to competitors that earned top marks.
Bottom Line
Meritus Payment Solutions appears to be an above average independent sales organization within the industry and a good option for high risk businesses. Since Meritus matches merchants up with a variety of direct processors, it has the ability to customize numerous services based on merchant needs. Meritus can improve its overall rating in this review by offering month-to-month contracts as a standard agreement and removing its Liquidated Damages clause. As with any merchant account provider, merchants are encouraged to read and understand all paperwork before signing up for services.
