NextPay Review: Fees, Comparisons, Complaints & Lawsuits

NextPay Logo
4.7
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How did they treat you? ▼

Company Overview

Founded in 2009, NextPay is a Panama-based merchant account provider that specializes in providing international credit card processing to e-commerce merchants. The company claims to serve over 200 businesses, many of which are located in Latin America. The company should not be confused with a Carrollton, TX-based payment processor called NextPay Merchant Services or the NextPay out of the Philippines. The companies are unrelated.

NextPay Payment Processing

NextPay offers processing of most major debit and credit cards for most business types. Their services include processing in multiple currencies, anti-fraud tools, and recurring billing. In addition to its e-commerce products, NextPay also offers a mobile POS solution for face-to-face payments.

Software for Acquirers

This company presents a variety of software solutions aimed at aiding acquirers in the effective management of their payment processing tasks. The provided software is adaptable and capable of scaling to meet the demands of each business.

Payment Gateway Module

The payment gateway module from this company provides a platform for dealers to conduct online transactions. It supports numerous secure payment methods.

Processing Module

The specialized processing module from this company enhances payment processing through seamless integration with existing payment infrastructures. It automates and refines business workflows.

3DS Server Module

The 3DS Server module from this company ensures the authentication of online transactions by adhering to the latest authentication standards. It adds an extra layer of security to help safeguard transactions against fraudulent activities.

Location & Ownership

NextPay does not disclose its partner bank or backend processor on its website, but it does list its headquarters at Costa del Este – Ave. La Rotonda, Edif. Financial Park piso 12 oficina 03-H, Panama City, Panama. Andrey Yurenkov is the founder of NextPay.

NextPay payment processing
NextPay appears to offer basic payment processing
Pros & Cons
Pros: Cons:
No early termination fees​ Not available everywhere​
User-friendly, easy to use​​. High transaction costs​​.
Reliable for small businesses​​. Monthly, setup fees applicable​​.
Integrates with major shopping carts​​. Limited customer support​​.
Supports global e-commerce transactions​​. High chargeback fees​​.

NextPay Customer Reviews

Here's What Their Clients Say

Customer Reviews Summary
Total Online Complaints <10
Live Customer Support Yes
Most Common Complaint N/A
Recent Lawsuits No

Low Complaint Total

We are currently able to locate two negative NextPay reviews, neither of which accuses the company of being a scam or a ripoff. Both complaints describe slow or unresponsive customer support, in one case related to a fund-hold. This low complaint total is likely due to the fact that the credit card processor serves a small number of clients. If you have your own NextPay review to make, please do so in the comments below.

NextPay Lawsuits

We have not found any outstanding class-action lawsuits or FTC complaints filed against NextPay. Dissatisfied clients who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations.

NextPay Customer Support Options

Although the company has very few clients, its relatively clean complaint record does reflect positively on its overall product. If a client experiences some issues, however, they are most likely to be related to the customer service department. NextPay offers live phone support during business hours as well as e-mail support. This level of support is better than many e-commerce processors but short of what we expect from top-rated customer service providers.

NextPay Customer Service Number

  • +507-2095487 – Local Office

Other Support Options

NextPay Online Ratings

Here's How They Rate Online

No Current Profile

The Better Business Bureau does not maintain a profile for NextPay at this time. We therefore will not factor a BBB rating into this review.

NextPay Fees, Rates & Costs

A Closer Look at The Contract

Cost & Fees Summary
Cancellation Penalties No
Monthly & Annual Fees Yes
Processing Rates Variable
Equipment Leasing No

Flat-Rate Pricing

Most of NextPay’s pricing and contract terms are visible on its website. The company offers a contract of unspecified length with no early termination fee, a monthly maintenance fee of $150, a one-time setup fee of $150, a discount rate of 5.5% plus $0.75 per transaction, a refund fee of $2 per refund, a chargeback fee of $45 per chargeback, a rolling reserve of 10% over a period of six months, and payouts every Friday with 14 days in arrears. This means that a client will receive his or her funds for a given transaction (minus any processing fees) on the Friday that falls on the third week following the transaction. NextPay’s mobile reader can be purchased for $65 and offers a flat rate of 5.5% per swipe. Unlike many other gateway providers, the company does not charge a monthly gateway fee.

Higher-Than-Average Cost

These contract terms are incredibly high compared to those offered by traditional, U.S.-based merchant account providers. However, they are roughly average for processors that primarily provide high-risk and international merchant accounts. Rates and fees are higher for these businesses because there are often currency conversion fees and increased chargeback risks associated with them. NextPay serves some business types that are typically considered to be high-risk, but there are some businesses that it cannot serve.

Competitive Pricing for International E-Commerce

NextPay’s expensive setup fee, monthly minimum fee, and per-transaction fees prevent it from seriously competing with conventional, domestic merchant account providers. However, its lack of cancellation fees or hardware costs makes it a competitive option for international and high-risk businesses. We have assigned NextPay a “B” rating in this section to reflect its limited appeal.

NextPay rating structure
NextPay’s rating structure

NextPay Employee Reviews & Sales Tacitcs

Should You Work For Them?

Jobs & Marketing Summary
Uses Independent Resellers No
Telemarketing No
Misleading Marketing No
Discloses All Important Terms Yes

No Sales Complaints

NextPay appears to primarily market its services through an affiliate program and through online advertising. There is no evidence at this time that the company employs independent sales agents, although its focus on international payments may require it to have local agents in its countries of service. In any case, we are currently unable to locate any negative NextPay reviews that describe misconduct by the company’s sales staff.

No Deceptive Quotes

In addition, the NextPay website clearly outlines many of its contract terms and does not promote misleading rate quotes. Due to the company’s clean complaint record and seemingly transparent marketing, we will assign it an “A.” If you suspect that NextPay is charging you undisclosed fees, we recommend seeking a third-party statement audit to eliminate hidden costs.

Our NextPay Review Summary

Our Final Thoughts

NextPay rates as a solid international credit card processing option according to our rating criteria. Readers should note that there is very little publicly available feedback about the company at this time and that its contract terms are far more expensive than those offered by traditional merchant services providers. However, international and high-risk businesses may find that NextPay’s online and mobile processing solutions are reliable options that are available for a transparently quoted, industry-standard price. Other businesses may prefer to work with a top-rated e-commerce provider.

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Which is Most Important for You?

If you had to pick one, which quality would you say will be the most important with your next credit card processor? Tap or click your selection to register your vote:

  1. Low Transaction Fees
  2. No Monthly Fees
  3. No Contract
  4. Reliable Customer Support
  5. Quick Signup

Testimonials & Complaints

How Did NextPay Treat You?

1 User Reviews

  • Luis

    El servicio al cliente es muy malo, ahora mismo estoy en espera de su respuestas,

    ISABELLA, la chica de atención al cliente, deja en espera y cuando le dices que la atención es mala, te corta el chat y coloca que por ahora no atienden.

    The customer service is very bad, right now I am waiting for your answers,

    ISABELLA, the customer service girl, puts you on hold and when you tell her that the attention is bad, she cuts off the chat and says that for now they do not attend.

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