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PandaPay Review

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Maintained Since: August 6, 2019

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.

PandaPay
Rating
B
4/5
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Pros

Competitive pricing options
Mobile payment support
No termination fees
Virtual terminal access
Positive merchant feedback

Cons

Long-term equipment leases
Potential hidden fees
Transparency concerns
Possible rate increases
No 24/7 support

Overview

In this review of PandaPay, we’ll give an overview of their credit card processing services. We’ll talk about the services they offer, like point-of-sale (POS) systems, mobile payment options, and e-commerce features. We’ll also look at which businesses might benefit from these services. Plus, we’ll check client and customer reviews to show trends and concerns. We’ll go over the company’s pricing, contract terms, and specific services. By the end of this review, you’ll know if PandaPay is a good fit for your payment processing needs.

About PandaPay

Screen Capture of PandaPay Homepage
PandaPay Homepage

Founded in 2015, PandaPay is a merchant account provider that serves most standard-risk business types. The company is a reseller of Elavon‘s Canadian branch, but it is capable of providing merchant services to businesses in Canada and the U.S. PandaPay was purchased by Tech Wei Corp S.A. in 2020 but appears to still be operating under its own brand.

Not To Be Confused With PandaPay.io

PandaPay shares its name with a tech startup that offers a donor management system for non-profit payment processing. There does not appear to be any connection between the two companies. The other PandaPay (pandapay.io) currently does not have an active website, and we have found public accusations made against its founder. In fact, it’s possible that PandaPay.io may be winding down business operations.

Products & Merchant Services

Payment Processing

PandaPay processes major debit and credit cards for standard-risk businesses.

EMV Card Readers and Swipers

PandaPay provides EMV card readers and swipers, enabling businesses to securely accept chip-enabled credit and debit cards. EMV technology enhances transaction security by using a dynamic authentication process that makes it more difficult for fraudsters to replicate card information.

Virtual Terminals

PandaPay’s virtual terminal service allows businesses to process payments without requiring a physical card reader. This is for remote or mail-order businesses, where transactions can be manually entered via an online portal.

e-Commerce Solutions

PandaPay offers e-commerce solutions that integrate with online platforms, allowing businesses to accept payments securely through their websites. The service supports a variety of payment methods and provides a seamless checkout experience for customers.

Cash Advances

PandaPay’s cash advance service provides businesses with immediate access to capital based on future credit card sales.

Gift and Loyalty Programs

PandaPay also offers gift and loyalty programs aimed at helping businesses increase customer engagement and retention. These programs allow businesses to offer branded gift cards and implement loyalty rewards systems.

Data Reporting and Analytics

With PandaPay’s data reporting and analytics tools, businesses can gain insights into payment trends, customer behavior, and sales performance.

Customer Reviews & Sentiment

Low Complaint Total

Our search identified only a few negative PandaPay reviews. While one review suggests potential scam or ripoff activities, this seems to be an outlier among mostly positive feedback. Common issues in the limited negative reviews include unsatisfactory sales experiences, unexpected contractual terms, and insufficient customer support. For a more comprehensive understanding, we encourage you to share your PandaPay experiences or complaints in the comments below.

PandaPay Lawsuits

No substantial class-action lawsuits or FTC complaints have been found against PandaPay. Merchants seeking alternative dispute resolution are advised to consider reporting to relevant supervisory organizations.

Industry Scores & User Ratings

Online Ratings Summary
PaymentPop1.7
BBB RatingN/A

PaymentPop Rating for PandaPay

Negative Feedback

I was a PandaPay customer. I put my account on hold and sent in the equipment as per the agreement. They started up my account outside of the agreement period without telling me(or sending me the equipment) and charged me a monthly fee taking it out of my bank account. $1084 later I realized what was going on. Been waiting 2 weeks for them to acknowledge they messed up, and haven’t heard from them other than to tell me they got my email.

Positive Feedback

Hi,

We had one of your Techs here his name is Josef he was such a great help. Very nice and explained everything to us. Amazing. Thanks for your help.

PandaPay BBB Rating

PandaPay is not an accredited business with the Better Business Bureau and currently maintains a “C” rating. As of this update, 1 complaint has been registered with the BBB against the company. The 1 complaint was either resolved to the dissatisfaction of the merchant or received no final response. The company has also received 0 informal reviews on its BBB profile, but it is important to note that these reviews are not verified by the BBB.

An “A” Performance

Because of their low complaint total and resolution rate, we agree with the BBB’s previous rating of “A”.

Processing Rates & Fees

Month-to-Month Contract

PandaPay does not publicly disclose any information about its standard contract, and there aren’t many merchant complaints that mention specific contract terms through the company. It is likely that PandaPay contracts are customized according to each merchant’s business type, location, and processing history. The company’s partnership with Elavon also means that it likely does not charge early termination fees in most cases.

Long-Term Leases

One PandaPay complaint states the following with regard to the company’s equipment lease policy:

pay attention …. panda pay shows you how you can save, but, he got me with the machine. I wanted to rent it and he wrote that I was taking the lease purchase. I am taken with them for 4 years. For lying to me and doing what I did not ask, I give 1 star because I am obliged, otherwise it would be 0.

This suggests that PandaPay offers long-term equipment leases as one option for merchants. We recommend purchasing EMV-capable equipment whenever possible in order to avoid the restrictive contract terms and high fees that come with leases.

No Red Flags

We are unable to locate any other PandaPay complaints that mention excessive charges or unreasonable contract terms from the company. In fact, many available PandaPay reviews praise the competitiveness of the company’s prices and the savings they’ve seen through the company. The overwhelmingly positive consensus among merchants has earned PandaPay an “A” rating in this category for now.

Employee Reviews & Sales Practices

Inside/Outside Sales Team

PandaPay appears to hire both in-house and independent sales agents to market its services. The use of outside agents is commonly linked to elevated complaint rates, but we are currently able to locate only a few PandaPay reviews that accuse the company of nondisclosure or misrepresentation. In fact, there are a large number of positive testimonials about the company’s honesty and transparency. If you suspect that PandaPay is overcharging you, then you can double-check your monthly bill with a third-party statement audit.

No Deceptive Quotes

PandaPay rates are not promoted in a deceptive way nor are there unrealistic guarantees on its website. In combination with the lack of complaints and large number of positive merchant reviews, this is a strong indication that PandaPay is committed to fair dealing and honest sales practices.

PandaPay Competitors

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Bottom Line

PandaPay ranks as a reliable option for most merchants based on our rating criteria. The company has maintained a low number of complaints and seems to avoid engaging in deceptive sales practices, reinforcing its standing as a trusted provider. Despite this favorable assessment we encourage merchants to carefully scrutinize the terms of any contract they are asked to sign.

To ensure they receive the best value and service, merchants should compare PandaPay’s contract terms with those of the highest-rated processors on CPO. Such comparisons will help businesses identify the most favorable pricing and features, ensuring they select a provider that aligns best with their operational needs and financial objectives. Remaining informed and proactive will empower merchants to make decisions that secure their business’s future growth and stability.

Read Actual User Reviews

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All user reviews have been moved to our partner, PaymentPop.com

Contact PandaPay

Contact & Customer Support
President and CEOMax Desruisseaux
Headquarters3333 Boul Cavendish #400, Montréal, QC H4B 2L7, Canada
Second Headquarters349 Four Valley Drive, 2nd Floor, Vaughan ON, L4K 5Z3
Toll-Free General Customer Service(877) 301-4616
Websitepandapay.ca