Agree with our rating?
Leave a comment below
Optimal Payments Review
Agree with our rating?
UPDATE 2/20/2019: Optimal Payments is now Paysafe (paysafe.com). We will no longer update this review. See our Paysafe review for current information on this company.
Headquartered in the Isle of Man, Optimal Payments (optimalpayments.com) is a merchant account provider with offices throughout Europe and North America. Current reports claim that the company is planning to change its name to “Paysafe Group” in the near future, but as of this article’s publication, it is still named Optimal Payments. Optimal Payments provides business solutions through numerous brand names, including NetBanx, NBX Merchant Services, Neteller, Net+, payolution, paysafecard, and its newest acquisition, Skrill. Optimal Payments boards its North American merchants through a partnership with Merrick Bank. Joel Leonoff is the president and CEO of Optimal Payments, which is headquartered at 6 Finch Road, Douglas IM1 2PT, Isle of Man.
Optimal Payments Customer Reviews
Here's What Their Clients Say
|Total Online Complaints||<10|
|Live Customer Support||Yes|
|Most Common Complaint||N/A|
We have not found any negative Optimal Payments reviews that accuse the company of being a ripoff or a scam, but there are a number of complaints filed against its subsidiary ventures like Neteller and Skrill. These other services are primarily intended for personal money exchange and do not function like traditional merchant accounts, so we have not factored them into this review of Optimal Payments. That noted, it does seem that a large number of complainants struggle with fund holds and excessive account verification procedures through these other services. It does not appear that fund holding issues pervade Optimal Payments’s merchant services solutions through NBX Merchant Services at this time. In general, Optimal Payments appears to have maintained a clean complaint record for its central business name, but its affiliated services have received substantial negative feedback.
Optimal Payments Online Ratings
Here's How They Rate Online
|Product & Service Complaints||0|
|Billing & Collection Complaints||0|
|Advertising & Sales Complaints||0|
|Guarantee & Warranty Complaints||0|
The Better Business Bureau currently does not assign a rating to Optimal Payments and does not provide the company with accreditation. There are no complaints filed against the company’s BBB profile, and there is very little information about Optimal Payments attached to the profile. At this time, it is unclear whether the BBB even actively updates this profile. In light of this, we have elected not to take the BBB’s rating into consideration for the purposes of this review.
Optimal Payments Fees, Rates & Costs
A Closer Look at The Contract
|Early Termination Fee||Liquidated Damages|
|PCI Compliance Fee||Variable|
|Equipment Lease Terms||Variable|
The standard Optimal Payments/NBX Merchant Services contract (available below) is an agreement of unspecified length through Merrick Bank that includes a liquidated damages early termination fee as well as a restocking charge of at least $200 for any leased equipment. The contract doesn’t specify how liquidated damages will be calculated under the contract, but it is probably determined by multiplying the number of remaining months in the contract by $35. It may also be a flat $500 depending on which amount is greater. Merchants are generally not encouraged to sign contracts that hold them accountable for liquidated damages in the event of early termination. Although we do not have specific information about the company’s other rates and fees, the presence of this fee alone is enough to lower its score to a “C” in this category. If you have any specific knowledge of the Optimal Payments contract (including any PCI compliance fees or monthly minimum fees), please share that information in the comment section below this review. See the Optimal Payments Merchant Agreement.
Optimal Payments Employee Reviews & Sales Tacitcs
Should You Work For Them?
|Employs Independent Resellers||Yes|
|Advertises Deceptive Rates||No|
|Discloses All Important Terms||No|
Optimal Payments appears to utilize inside sales channels as well as independent sales agents to market its services. The use of independent agents is commonly linked to high complaint rates in the industry, as these agents are often compensated on a commission-only basis. In this case, however, we are unable to locate any Optimal Payments complaints that accuse the company’s sales team of misrepresentation or nondisclosure. Optimal Payments also does not advertise misleading rate quotes on its main website or on the websites of its subsidiary brands. We have therefore assigned the company an “A” rating in this category.
Copyright © 2023 CardPaymentOptions.com, Inc. (Digital Fingerprint: 0d38c6720f0d78a701b74d58653af608). Getting paid to re-write this page? Click here to earn a reward.
Any unauthorized copying and reproduction of the content of this page, including all meta data and computer code, is strictly prohibited. While the information in the above article is believed to be accurate as of its publish date, the author and publisher make no representation or warranties with respect to the accuracy, applicability, fitness, or completeness of the contents. The author and publisher shall in no event be held liable to any party for any direct, indirect, punitive, special, incidental or other consequential damages arising directly or indirectly from any use of this material, which is provided “as is,” and without warranties. Any and all use of trade names and/or marks are for identification purposes only and shall not be construed as a claim of affiliation, or otherwise, with CardPaymentOptions.com, Inc. ("CPO") in any form. The sole purpose of the material presented herein is to alert, educate, and inform readers. It is not intended as legal or financial advice. We may earn revenue if you obtain services from a provider that we recommend. See this page to learn how we support our operations.