Serving Canadian and American Merchants
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.
PandaPay Payment Processing
PandaPay processes all major debit and credit cards for standard-risk businesses. Their services include EMV card readers and card swipers, virtual terminals, e-commerce solutions, cash advances, gift and loyalty programs, and data reporting and analytics.
PandaPay Location & Ownership
PandaPay is headquartered at 3333 Boul Cavendish #400, Montréal, QC H4B 2L7, Canada with another location at 349 Four Valley Drive, 2nd Floor, Vaughan ON, L4K 5Z3. Max Desruisseaux is the CEO and President of PandaPay.
PandaPay Review Table of Contents
- Costs & Contract: PandaPay appears to offer variable pricing based on each merchant’s business type and processing history.
- Complaints & Service: PandaPay complaints number fewer than 10 on public complaints forums.
- BBB Rating: PandaPay currently maintains a “C” rating with 1 complaint with the Better Business Bureau.
- Sales & Marketing: PandaPay appears to hire independent sales agents and has not received some complaints about its sales practices.
PandaPay Customer Reviews
Here's What Their Clients Say
|Total Online Complaints||<10|
|Live Customer Support||Yes|
|Most Common Complaint||N/A|
Low Complaint Total
We are able to locate only a few negative PandaPay reviews at this time, and there is little indication that the company is a ripoff or a scam, though one review on this site does appear to say so. As noted above, there are many reviews of the company online, but they are mostly positive. The few negative PandaPay reviews cite scattered issues such as poor sales encounters, unexpected contract terms, and inadequate customer support. If you have your own PandaPay complaint to make, please do so in the comments below.
We have not found any outstanding class-action lawsuits or FTC complaints filed against PandaPay. Dissatisfied merchants who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations.
PandaPay Customer Service Options
PandaPay offers live phone support to all of its merchants.
We have located a single PandaPay customer service number:
(877) 301-4616 – Toll-Free General Customer Service
PandaPay also offers a dedicated email support address at [email protected].
This just barely satisfies our minimum expectations of the top-rated payment processors for great customer service.
PandaPay Online Ratings
Here's How They Rate Online
Online Ratings Summary
No BBB Complaints
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”.
PandaPay Fees, Rates & Costs
A Closer Look at The Contract
|Swiped Rate||1.00% - 4.99%|
|Keyed-In Rate||1.00% - 4.99%|
|Early Termination Fee||Variable|
|PCI Compliance Fee||Variable|
|Equipment Lease Terms||48-month (locked)|
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.
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.
PandaPay Employee Reviews & Sales Tacitcs
Should You Work For Them?
|Employs Independent Resellers||Yes|
|Advertises Deceptive Rates||No|
|Discloses All Important Terms||No|
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.
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