National Paymentech 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.
National Paymentech
Rating
Customer Reviews & Sentiment
We are currently able to locate just over a dozen total negative National Paymentech reviews, some of which accuse the company of being a scam or a ripoff. Commonly cited issues among complainants include misleading rate quotes, expensive equipment leases, and unreachable customer service. These complaints are very similar to the typical complaints that are filed against Securus Payments and Riverside Payments. For the amount of time that National Paymentech has been operating, this is a moderate number of complaints, but the complainants all paint a consistent picture of less-than-adequate service. We have therefore assigned the company a “C” rating in this category for now. National Paymentech offers phone and email support contact information on its website, but some complainants have stated that these channels are not especially responsive or helpful.
Industry Scores & User Ratings
The Better Business Bureau does not maintain a profile for National Paymentech at this time, although there are BBB profiles for Securus Payments and Riverside Payments. Securus currently has no rating with the BBB based on 143 complaints in the past three years, while Riverside Payments has an “A-” based on 13 complaints. Although National Paymentech appears to share former personnel with Securus and an address with Riverside, we will not factor a BBB rating into the company’s grade at this time.
Processing Rates & Fees
National Paymentech does not provide its contract to the general public, so we have primarily searched merchant complaints for details about its pricing and fees. Given the company’s apparent personnel connections to Securus, it’s possible that National Paymentech’s contract terms are very similar to Securus’s standard contract terms. Securus’s basic contract appears to be a three-year agreement through First Data with an early termination fee of $495 and other miscellaneous fees, including a monthly minimum of $20, a $159 annual PCI compliance fee, and a variable monthly statement fee. Multiple National Paymentech complaints also claim that the company sells expensive, long-term equipment leases through First Data Global Leasing or Northern Leasing Systems. One merchant reported an equipment lease cost of $200 per month for 48 months, which would result in payments totaling almost $10,000 over the life of the lease. Most credit card processing equipment can be purchased for less than $500. Merchants are strongly advised to purchase equipment rather than lease it whenever possible.
Considering the regular complaints of higher-than-expected rates and expensive equipment leases, we are currently assigning National Paymentech a “C” in this section. If you have any knowledge of the standard National Payment contract, please share that information in the comment section below this review.
National Paymentech Competitors
Compare National Paymentech to competitors that earned top marks.
Bottom Line
National Paymentech currently rates as an average merchant services provider according to our rating criteria. The company has amassed over a dozen public complaints in under two years of operation and appears to have a number of former ties to poorly rated providers. Merchants are encouraged to read and understand all contract terms, including equipment lease terms, before signing up for a merchant account.
