Pay361 Review: Fees, Complaints, Comparisons, & Lawsuits

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How did they treat you? ▼

As of 2022, the Pay361 website is still down and it the company has not had any online activity in some time. We believe the company is out of business after rebranding and will no longer be updating this profile. If you have any information that the company is still in business, please let us know in the comments below.

Formerly Known as “ImGlobal Payments”

Founded in 1999, Pay361 is a UK-based merchant account provider that specializes in serving international and high-risk business types. The company operated out of Israel under the name “ImGlobal Payments” until 2018, when it was restructured to operate as Pay361, an ImGlobal Ltd. company. Pay361 does not list an acquiring bank on its website, but it's likely that it has partnered with multiple banks in order to serve its diverse merchant base.

Rebranded as Payvea

As of 2021, Pay361 as a brand has been almost entirely dissolved. The original Pay361 website is no longer online, however Payvea's site lists the previous Pay361 address.

Pay361 Location and Ownership

Pay361 lists its address at Minshull House, 67 Wellington Rd N, Stockport SK4 2LP, UK, but this appears to be a forwarding address. The company's previously listed address can be found at 3 Dolev St., Suite 8, Ramat Hasharon, 47409, Israel. Ben Felczer is the CEO of Pay361.

Pay361 Review Table of Contents

  • Costs & Contract: Pay361 offers variable pricing depending on each merchant's business type and processing history.
  • Complaints & Service: Pay361 complaints number fewer than 10 on public complaints forums.
  • BBB Rating: Pay361 currently does not have a profile with the Better Business Bureau.
  • Sales & Marketing: Pay361 appears to hire independent sales agents but has not received any complaints about its sales practices.

Pay361 Customer Reviews

Here's What Their Clients Say

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

No Public Complaints

We are unable to locate any negative Pay361 complaints at this time, and there is no evidence that the company is a scam or a ripoff. Pay361 processes payments all over the world, so it’s likely that the company outsources some of its customer support to local banks. These partner banks may receive some complaints that are intended for Pay361, but we have found no evidence that this is occurring. For a high-risk merchant provider that was established in 1999, the Pay361 complaint record is enviable.

Pay361 Lawsuits and Fines

We have not found any outstanding class-action lawsuits or FTC complaints filed against Pay361. Dissatisfied merchants who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations.

Pay361 Customer Service Options

The Pay361 website provides general phone and email contact information but does not list a dedicated customer support number. We will award Pay361 an “A” rating in this category, but the company’s current customer support options do not qualify it as a top-rated customer service processor.

Pay361 Online Ratings

Here's How They Rate Online

No Profile Available

The Better Business Bureau does not maintain a profile for Pay361 at this time. Accordingly, we will not factor a BBB rating into this review.

Pay361 Fees, Rates & Costs

A Closer Look at The Contract

Cost & Fees Summary
Swiped Rate 1.00% - 4.99%+
Keyed-In Rate 1.00% - 4.99%+
Virtual Terminal Rate 1.00% - 4.99%+
Payment Gateway Fee Undisclosed
Early Termination Fee Undisclosed
PCI Compliance Fee Undisclosed
Equipment Lease Terms Undisclosed

Pay361 Contract Terms

There is very little publicly available information about the standard Pay361 contract at this time. The company specifically advertises to high-risk businesses, which means that it needs to approve or deny each merchant’s application on a case-by-case basis. It’s likely that the Pay361 rates and fees will vary dramatically based on each merchant’s business type, processing history, and time in business.

Virtual Terminal and Payment Gateway Pricing

In addition to its storefront payment processing services, Pay361 also dedicates a portion of its website to advertising its virtual terminal and payment gateway services. According to the company’s website, its online payment gateway is supported by First Data, Elavon, Chase Merchant Services, Vital, Payvision, and WorldPay. Rates and fees will depend on which gateway provider a merchant utilizes.

High Risk, High Fees

High-risk commerce sectors pose a larger-than-average threat of chargebacks and legal crackdowns. As a result, high-risk merchant account providers often charge higher per-transaction fees to justify their risk. They may also require merchants to fund cash reserves as protection against reversed payments. Merchants who are operating in high-risk sectors should therefore be prepared to receive rate quotes that are not competitive with the cheapest merchant accounts.

No Red Flags

There are no public merchant complaints regarding Pay361’s contract terms at this time, which suggests that most of the company’s merchants are satisfied with the rates and fees they pay. We will therefore assign the company an “A” rating until more is known. If you have any specific knowledge of the standard Pay361 merchant agreement (including any early termination fees or PCI compliance fees), please share that information in the comment section below this review.

We also encourage merchants to check out our list of the providers of the best merchant accounts.

Pay361 Employee Reviews & Sales Tacitcs

Should You Work For Them?

Jobs & Marketing Summary
Employs Independent Resellers Yes
Advertises Deceptive Rates No
Discloses All Important Terms No

Inside/Outside Sales Team

Pay361 appears to primarily market its services through independent resellers and referral partnerships. The use of independent resellers is sometimes linked to elevated complaint rates in the credit card processing industry, but we are unable to find any Pay361 complaints that mention deception by the company’s sales team.

This compares favorably to our list of best credit card processors.

No Misleading Quotes

Pay361 also does not list any misleading rate quotes or unrealistic guarantees on its website. Considering the clean Pay361 complaint record and fair advertising, we’ve assigned the company an “A” rating in this category. If you suspect that Pay361 is overcharging you, we recommend a third-party statement audit to find and eliminate hidden fees.

Our Pay361 Review Summary

Our Final Thoughts

A Solid Option for High-Risk Merchants

Pay361 rates as a reliable high-risk merchant services provider according to our rating criteria. The company is not showing any public complaints after over 15 years in operation, which is the primary reason for its high overall grade. Our rating for Pay361 may be subject to change once we receive more merchant feedback regarding the company’s pricing and contract terms. For now, merchants are encouraged to compare the company’s pricing to that offered by top-rated high-risk merchant account providers.

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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 Pay361 Treat You?

1 User Reviews

  • George Emma

    I’ve been using Pay361 for my online transactions, and it’s been an absolute game-changer for my business. This platform makes handling payments and managing invoices a breeze! The interface is intuitive and user-friendly, saving me valuable time on the backend.

    Pay361’s security features are top-notch, giving me peace of mind knowing that my customers’ data is safe and secure. I love the flexibility it offers with multiple payment options, catering to a diverse customer base.

    The customer support team has been exceptional, always available to assist with any inquiries or concerns promptly. With Pay361, I’ve witnessed a significant increase in efficiency and customer satisfaction.

    In conclusion, I can’t recommend Pay361 enough for any business looking to streamline their payment processes. It’s a must-have tool that has undoubtedly contributed to my company’s growth and success.

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