Payfirma Credit Card Processing 2023: Reviews & Complaints

Payfirma Rating
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image of a phone image of a phone that changes when your mouse hovers over it (800) 747-6883 View Pricing

Company Overview

Payfirma is a merchant account provider headquartered in Vancouver, British Columbia. The company appears to resell the merchant services of Chase Paymentech and First Data (now Fiserv). Payfirma was acquired by Toronto-based payment processor Merrco Payments in February 2018 and now operates as a wholly-owned subsidiary of Merrco though it retains its independent branding.

Payfirma Payment Processing

Payfirma processes most major debit and credit cards for most business types. Their services include chip and PIN card readers, POS terminals, virtual terminals, e-commerce solutions including shopping cards and access to a payment gateway, mobile solutions, and recurring billing.

Point of Sale Solutions

Payfirma offers a variety of point-of-sale (POS) solutions tailored to suit the specific needs of different businesses. These solutions range from traditional countertop terminals to tablet-based POS systems, providing merchants with the necessary tools to facilitate smooth and secure transactions in a brick-and-mortar environment.

E-commerce Payment Solutions

For businesses operating online, Payfirma provides e-commerce payment solutions that can be easily integrated into their websites. The company’s secure payment gateway allows merchants to accept online payments from customers, providing a user-friendly and secure checkout experience. Payfirma’s e-commerce solutions also support multiple currencies, enabling businesses to cater to a global customer base.

Mobile Payment Processing

Recognizing the growing importance of mobile commerce, Payfirma offers mobile payment processing services for businesses on the go. By using mobile card readers and compatible applications, merchants can accept payments through smartphones or tablets, ensuring flexibility and convenience for both the business and its customers.

Security and Fraud Prevention Measures

Payfirma places a strong emphasis on security and fraud prevention, employing advanced encryption and tokenization technologies to safeguard sensitive customer data. The company also offers fraud prevention tools that help businesses detect and prevent potentially fraudulent transactions, ensuring a secure payment environment.

Analytics and Reporting Features

Payfirma’s robust analytics and reporting features allow businesses to monitor their payment processing activities and gain valuable insights. Merchants can use these tools to track sales, identify trends, and make informed decisions to optimize their payment strategies.

Location & Ownership

Founded in 2011, Payfirma is headquartered at 1185 West Georgia Street, Suite 740, Vancouver, British Columbia V6E 4E6 and is a registered ISO of Wells Fargo Bank, N.A., Canadian Branch, Toronto, ON, Canada. Following the company’s acquisition by Merrco Payments, Payfirma’s co-founder and CEO Michael Gokturk stepped down. Fern Glowinsky is listed as the CEO of Merrco Payments.

Table of Contents

Payfirma payment processing

Payfirma offers most standard payment processing services

Payfirma Customer Reviews

Here's What Their Clients Say

Customer Reviews Summary
Item Result
Total Online Complaints <10
Live Customer Support Yes
Most Common Complaint N/A
Recent Lawsuits No

Low Complaint Total

We are currently able to locate a handful of negative Payfirma reviews, none of which go so far as to accuse the company of being a ripoff or a scam. Clients report nondisclosure of rates and fees, late delivery of funds, difficulty canceling service, and a high early termination fee at the end of a four-year contract. Most of the available complaints are from Payfirma employees, who complain about a poor corporate culture and a lack of direction. These complaints do not appear to have much of a relationship to a merchant’s experience and have therefore been given little weight in this review. If you have your own Payfirma review to make, please do so in the comments below.

Payfirma Services Lawsuits

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

Payfirma Customer Support Options

The Payfirma website offers live chat, a dedicated support number, and an email address for customer support.

Payfirma Customer Service Number

  • (800) 747-6883 – Toll-Free General Customer Service

Other Support Options

  • Live chat
  • Customer support form
  • Customer support self-help portal
  • E-mail address at [email protected]

In general, these channels appear to do an effective job of resolving client complaints in-house. Payfirma’s customer support options are close to what we expect of top-rated processors for great customer service.

Payfirma Online Ratings

Here's How They Rate Online

Online Ratings Summary
Item Result
BBB Reports 1

Under 5 Complaints

Payfirma is not an accredited business with the Better Business Bureau. As of this review, the company has an “A+” rating with the BBB and has had 1 complaint filed against it in the last 36 months.

What Merchants Say

The company also has had 0 informal reviews posted to its BBB profile in the last 36 months. Before that period the BBB documented 1 review, which was negative in tone. The review described hidden fees:

Signed up with PAYFIRMA 3 months ago. Their representative assured us that their pricing is as follows: “Our pricing is very simple. We charge $19/month to use our PAYHQ platform and we simply markup up the credit card rates by 0.50% on the raw costs of the card type” In the past 3 months we have not had a chance to process any credit card transactions yet, but as it turned out we we were charged $144.90 in addition to the disclosed monthly $19.00 fee. When we asked PAYFIRMA about these charges, they said they can fix the set up so that only $19.00 is charged, but they cannot refund the fees that were already charged. We realize that we should’ve examined the fine print on the contract, however payfirma’s representative should have disclosed all the fees, not just one. Obviously, all he cared about was the sale, never heard from him after signing. We never got to process card transactions with PAYFIRMA, but I am certain that if we had, there would be more hidden fees turning up every step of the way. So far we got charged $201.90 and PAYFIRMA is intending to charge a $295 cancellation fee for absolutely no services provided by them. I hope this review helps others, seeking merchant services, turn to a better company than PAYFIRMA.

Clients seeking to avoid this experience should diligently review contracts to better which fees they could incur.

An “A” Performance Overall

Given the company’s complaint total, we agree with the BBB’s rating at this time. Business owners should be aware, however, that there are reasons to be skeptical of the BBB’s rating system.

Payfirma Fees, Rates & Costs

A Closer Look at The Contract

Cost & Fees Summary
Item Result
Cancellation Penalties Yes
Monthly & Annual Fees Yes
Processing Rates Variable
Equipment Leasing Yes

Payfirma Pricing

The Payfirma website does not currently list any of its rates or fees. However, at the time of an earlier review, the site advertised rates averaging 1.99% plus $0.25 per transaction on top of a flat monthly fee depending on which service is supplied. The Payfirma Chase MPA Setup Guide also lists a $40 monthly minimum fee for businesses that process under $2,500 per month, a $99 mobile card reader, a $5 cost per extra user, and an unspecified setup fee. A document available below appears to list some of the company’s other costs in its standard Chase Paymentech contract. These include a $300 early termination fee, an annual fee ranging from $10 to $89.95, application fees of at least $25 for Visa and MasterCard, and a monthly admin fee of at least $10. This document also outlines tiered pricing.

Payfirma Fees Clarifications

A company representative has stated in the comment section of this review that Payfirma boards most of its clients with First Data (Fiserv), and that Payfirma does not charge annual fees or PCI Compliance fees. The representative did state that Payfirma charges early termination fees only if businesses lease credit card equipment. The company’s lease agreements through First Data (Fiserv) are non-cancellable.

Virtual Terminal and Payment Gateway Pricing

In addition to its storefront payment processing services, Payfirma also dedicates a portion of its website to advertising its virtual terminal and payment gateway services. However, pricing is not disclosed on either of those services. Additional rates and fees, including gateway fees, technical support fees, batch fees, and additional transaction rates typically apply to these e-commerce services.

Negotiate Your Terms

Overall, these contract terms appear to be slightly better than average, but they could potentially become less competitive depending on which of these rates and fees are actually enforced. It is likely that many of these terms are negotiable depending on a business’ size, type, and time in business, and some provisions of the above document may be outdated at this time. It is also unclear whether the previously listed pricing or the company’s Chase Paymentech pricing model is still relevant.

Seemingly Satisfactory Contract Terms

Even so, although the company’s advertised terms offer some transparency regarding the overall cost of its service, they don’t seem to be especially low-cost for the industry, especially when compared to the cheapest merchant accounts. We are currently able to locate only one complaint about Payfirma’s contract terms at this time, indicating that most of the company’s clients are satisfied with the service they receive.

Payfirma virtual terminal

Payfirma offers access to a virtual terminal and payment gateway

Payfirma Employee Reviews & Sales Tacitcs

Should You Work For Them?

Jobs & Marketing Summary
Item Result
Uses Independent Resellers Yes
Telemarketing Likely
Misleading Marketing No
Discloses All Important Terms No

Payfirma Sales Approach

Payfirma appears to offer referral and reseller programs and employs both in-house and external sales teams to market its services. We are currently able to locate only one Payfirma review that mentions unethical sales practices by the company’s agents. This complaint describes nondisclosure of fees and misrepresentation of rates, but it was filed in 2012 and is the only Payfirma review of its kind. That said, if you suspect that Payfirma’s sales team has added undisclosed fees to your account, we recommend seeking a third-party statement audit.

Previous Rate Quotes

At the time of an earlier update, the Payfirma website advertised a rate of “1.99% + $0.25 per transaction” but disclosed in smaller font that “this rate can go up the fancier a card gets (ex. reward and corporate cards.)” Therefore, businesses should not assume that the rate quote of 1.99% plus $0.25 is a flat rate; in fact, it is more likely to be the company’s “Qualified” transaction rate, while the company charges higher rates for “Mid-Qualified” and “Non-Qualified” transactions. This rate quote seems to have been removed from the credit card processor’s website since then.

Our Payfirma Review Summary

Our Final Thoughts

Payfirma rates as a reliable credit card processing provider according to all available information. The payment processor is showing a very low complaint rate and several positive testimonials online, but some potentially costly terms in its contract have lowered its overall rating slightly. The company’s rating may be subject to change as it continues to grow and develop a reputation within the industry. Business owners considering Payfirma should first compare the company’s offerings to top-rated U.S. and Canadian merchant accounts.

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Your Comments & Reviews

How Did Payfirma Treat You?

9 Responses

  • I have been a customer of Payfirma for close to 2 years i’m a small business owner
    I had a customer who had purchase a product and then call into her credit card company and say it was not her payfirma was no help to us i lost out 429.40 please keep away from this company.

    This post will help: How to Fight Chargebacks and Win


  • Peter Byrne

    I am new with Payfirma. So far, it is taking longer than promised to get the funds deposited from my transactions. They say it takes 24 – 48 hours but I have not experienced anything under 48 hours.

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  • Metropolitan

    Payfirma is a dangerous organization that will overcharge you and charge money for services not provided. stay away from them!!!

  • Jacques Tjonasan

    I have been a customer of Payfirma for close to 2 years.
    The online platform for processing payments an 8.5 out of 10. The reports available are less functional.
    I do not use the Invoicing feature. Customer service is very good. Their rates are very competitive. I have done Merchant analysis for clients on a regular basis and recommend Payfirma whenever clients ask.

  • peter drummond

    I’m a rep from Payfirma and wanted to give some clarity around our pricing. We board most of our customers with FIrst Data and have no cancellation fees for anyone on our PayHQ platform. The only time we do charge a cancellation fee is if the merchant is renting a traditional terminal. We don’t charge any annual fees or PCI fees.

  • Michael DiMartini

    Payfirma is a dangerous organization that will provide you with overly complicated ways to cancel their services with a large amount of hidden fees. I run a small business that is based online and we reside in the US. Using their services actually has cost me almost 10% of my credit card transactions. There are far better solutions with a lot less hidden fees and lies. Also, they only provided Visa and Mastercard – American Express, etc had to have an additional service and more fees. Super tricky and their sales techniques are down right lies and their support staff will hide the truth from you at every step. Run do not walk away from this group.

  • Thanks Jason. It’s awesome to hear such positive feedback from our merchants. We’re thrilled to have made difference!

    • Angie Gregory

      We were interested in switching our business over to payfirma, upon doing my due diligence of checking reviews your response to this complaint has definitely caught my attention and not in a good way. Payfirma you need to work on your customer service!

  • Jason Gibbs

    We use Payfirma for our ecommerce website and on the road. They are great! Always on hand to assist us anytime we need anything.

    Also of note, this is the only company we’ve found that gives us ecommerce, mobile and terminals all under a single account. Usually we have to sign up with many vendors to get what they offer single source, that’s a life saver (and price saver) for companies like ours.

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