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Paydoo Review: Fees, Comparisons, Complaints, & Lawsuits
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Note: As of 2022, Paydoo has evolved into a new company called Paynt. We will be providing a new profile soon and will no longer be updating this one.
European and North American E-Commerce Processing
Founded in 2013, Paydoo is a merchant account provider that serves both standard and high-risk businesses in Europe and North America. Like Stripe, Paydoo exclusively offers e-commerce software and is not intended for face-to-face payment environments such as high-traffic retail or restaurant locations. The company claims to process every type of currency and serve customers in 180 countries. It also claims to process payments for high-risk industries such as CBD and payday loans.
In 2021, Paydoo made a number of strategic partnerships with other fintech companies, including Tribe Payments and MetaWallet.
Paydoo Location and Ownership
Paydoo is registered as an authorized Electronic Money Institution licensed by The Bank of Lithuania and is headquartered at Lvovo g. 25, Vilnius, LT-09320, Lithuania. Sam Kohli is the founder and CEO of Paydoo.
Paydoo Review Table of Contents
- Costs & Contract: Paydoo offers variable contract terms according to each business’s type, location, and history.
- Complaints & Service: Paydoo complaints number fewer than 10 on public complaints forums.
- BBB Rating: Paydoo does not have a profile with the Better Business Bureau at this time.
- Sales & Marketing: Paydoo does not hire independent sales agents and has not received any complaints about its sales practices.
Paydoo Customer Reviews
Here's What Their Clients Say
|Total Online Complaints||<10|
|Live Customer Support||No|
|Most Common Complaint||N/A|
No Public Complaints
We are unable to locate any Paydoo complaints, which is a good sign that the company isn’t a ripoff or a scam. Paydoo has been operational for over five years, so it is encouraging to see that there is such a clean Paydoo complaint record. We will interpret this lack of merchant reports as a positive sign that the company is operating ethically. If you have a Paydoo complaint to make, please do so in the comments below.
Paydoo Lawsuits and Fines
We have not found any outstanding class-action lawsuits or FTC complaints filed against Paydoo. Dissatisfied merchants who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations.
Paydoo Customer Service Options
Paydoo offers a phone number and email support contact information on its website, but its phone number appears to be for general inquiries rather than customer service. This falls short of the minimum level of service that we expect from top-rated payment processors for great customer service, but it appears to serve the company’s merchants well.
Paydoo Online Ratings
Here's How They Rate Online
No Profile Available
The Better Business Bureau does not maintain a profile for Paydoo at this time. We therefore will not factor a BBB rating into this review.
Paydoo 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||Undisclosed|
|PCI Compliance Fee||Undisclosed|
|Equipment Lease Terms||None|
Variable Contract Terms
Paydoo does not disclose its pricing to the public, and there are no merchant comments that mention specific rates or fees charged by the company. As an e-commerce payment processor with multiple international banking partners, it’s likely that Paydoo rates and contract terms will vary dramatically depending on each merchant’s business type, location, and processing history. Currency conversions and a merchant’s designated settlement currency could also impact payouts from Paydoo. Paydoo does not appear to sell physical hardware, so it is unlikely that the company signs merchants up for long-term, non-cancellable equipment leases.
High-Risk, High Fees
High-risk merchants who sign up with Paydoo should expect to pay higher-than-average fees, and they may also be subject to cash reserves on their accounts. This is standard practice within the industry due to the elevated risk of chargebacks that many high-risk merchants pose. High-risk merchants can reduce their risk of fund-holds and chargebacks by being open and transparent with Paydoo about their business type and product lineup from the start.
No Red Flags
We cannot find any Paydoo complaints related to the company’s pricing, and there’s no reason to believe that the company’s merchants are dissatisfied with their pricing at this time. It is possible that Paydoo offers a wide range of potential contract types, so merchants should understand how to spot undesirable terms in their contract.
We also encourage merchants to check out our list of the providers of the best merchant accounts.
Paydoo Employee Reviews & Sales Tacitcs
Should You Work For Them?
|Employs Independent Resellers||No|
|Advertises Deceptive Rates||No|
|Discloses All Important Terms||No|
In-House Sales Team
Paydoo appears to rely on an in-house sales team and inbound marketing to advertise its services. There is no evidence that the company employs independently contracted sales agents, and we have not found any Paydoo complaints that mention deceptive conduct or misrepresented fees. We will therefore assume for the time being that the company’s sales approach is transparent and ethical.
This compares favorably to our list of best credit card processors.
No Rate Quotes
Paydoo does not list any promotional rates or price guarantees on its website. Given the fact that we have not found any allegations of misleading rate quotes, it appears that the company is generally straightforward about its pricing and fees. If you suspect that a Paydoo sales agent has misled you about your rates, you can double-check your monthly bill with a third-party statement audit.
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