Old Company, New Name
Formerly known as Sage Payment Solutions, Paya is a large, U.S.-based merchant account provider that was founded in 1989. According to its website, the company specializes in providing solutions for education, government, B2B, healthcare, and nonprofit processing. When it operated as a subsidiary department of Sage Group, Paya specialized in payroll and accounting services for businesses, but it also managed to carve out a solid share of the payments market in both the U.S. and UK. In August 2017, a private equity firm named GTCR acquired Sage Payment Solutions from the Sage Group. It officially rebranded the organization to Paya in January 2018. The company now claims to serve more than 100,000 merchants and has narrowed its focus to becoming a top-rated payment processor. In August 2020 Paya announced a merger with FinTech Acquisition Corp. III.
Headquartered in Reston, Virginia
Paya is a registered ISO of BMO Harris N.A., Chicago Il. . Paya’s headquarters was previously listed 12120 Sunset Hills Rd #500, Reston, Virginia 20190, but the company also has several other offices located throughout the United States and Canada. Currently, it lists its headquarters at 303 Perimeter Ctr N STE 600 Atlanta, GA 30346. Jeff Hack is the CEO of Paya.
Paya Review Table of Contents
- Costs & Contract: Paya appears to offer a multi-year contract with a liquidated damages-style early termination fee and long-term equipment lease.
- Complaints & Service: Paya has received more than 40 public complaints.
- BBB Rating: Paya has an “A-” rating with the Better Business Bureau and has received 16 complaints and 7 reviews in the last 3 years. The company was formerly accredited by the Better Business Bureau since 2006 but is no longer accredited.
- Sales & Marketing: Paya appears to hire independent sales agents and has received some complaints about its sales practices.
- Rates & Fees: How Merchants Got The Best Rates With Paya