PayKings Credit Card Processing 2023: Reviews & Complaints

PayKings Rating
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Company Overview

Active since 2011, PayKings is a merchant account provider that serves both standard-risk and high-risk merchants. According to the company’s website, vape, adult, firearms, dating, travel, debt collection, pawn shop, and CBD merchants are among the high-risk industries served by PayKings. The company claims to be partnered with over 20 payment processors to ensure that it can serve almost any business type.

PayKings Payment Processing

PayKings processes all major debit and credit cards for most business types, including high-risk. Their services include POS solutions, mobile payments, e-commerce solutions including payment gateways, MOTO, surcharging and cash discounts, ACH processing, Level 2 and 3 processing, and recurring billing.

E-Commerce Payment Processing

With the rise of online commerce, PayKings extends its services to e-commerce businesses. They offer integration with many popular shopping carts and platforms, allowing businesses to accept online payments securely.

ACH Processing

For businesses seeking alternatives to traditional card payments, PayKings offers ACH (Automated Clearing House) processing. This service allows businesses to accept direct payments from bank accounts.

Chargeback Prevention and Dispute Management

PayKings provides tools and strategies to help businesses minimize chargebacks and manage disputes effectively when they occur. This service is particularly beneficial for high-risk businesses that tend to experience higher rates of chargebacks.

Payment Gateway Services

To facilitate seamless and secure online transactions, PayKings offers payment gateway services. They ensure businesses can safely process payments, with advanced security measures to protect sensitive information.

Location & Ownership

PayKings is a registered ISO/MSP  of Woodforest National Bank, The Woodlands, Texas. Kyle Hall is listed as the CEO of PayKings, which is headquartered at 433 Central Ave Fl 3, St. Petersburg, FL 33701.

Table of Contents

PayKings Customer Reviews

Here's What Their Clients Say

Key Points

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

Few Public Complaints

We have located only a few PayKings reviews, which is a good sign that the company isn’t a ripoff or a scam. The only available complaints detail vague issues with declined accounts or a poor sales experience. PayKings has been operating within the high-risk space for over half a decade, so it is surprising to see that it has such a low complaint total. We will interpret this lack of client reports as a positive sign that the company is operating ethically. If you have your own PayKings review to make, please do so in the comments below.

PayKings Lawsuits and Fines

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

PayKings Customer Service Options

PayKings offers email contact information on its website, but it’s unclear whether this is a dedicated customer service channel. This does not compare to our top-rated payment processors for great customer service, but it appears to serve the company’s clients well.

PayKings offers a customer service email address at [email protected]

PayKings Online Ratings

Here's How They Rate Online

Online Ratings Summary

BBB Reports 3

Note: We have adjusted this company’s BBB rating according to our own standards. To better understand why we adjust BBB ratings, please see our Rating Criteria.

No BBB Complaints

PayKings currently does not have a rating with the Better Business Bureau and is not BBB accredited. The company has received 0 complaints in the last 3 years.

What Merchants Say

PayKings has received 1 negative informal review and 2 positive informal reviews to its BBB profile. One of the most recent negative reviews describes a negative sales experience:

0 Stars If I could! I talked with tiffany and couldnt give me any kind of idea for rates etc, not to mention she keeps blowing me up over email for no reason when I kindly asked to be stop being emailed, so bad that I had to come here and leave a negative review.

High-risk businesses can be subject to contract terms and conditions which do not apply to standard risk accounts. Understanding how rolling reserves work is imperative to high-risk businesses entering into a service agreement.

An “A” Performance

Although the BBB has only had a profile for PayKings for a short time, we have adjusted the BBB’s rating according to our own criteria.

PayKings Fees, Rates & Costs

A Closer Look at The Contract

Key Points

Cancellation Penalties Unclear
Monthly & Annual Fees Unclear
Processing Rates 1.00% - 4.99%+
Equipment Leasing Unclear

Variable Contract Terms

PayKings does not disclose its full pricing to the public, and there are no client comments that mention specific rates or fees charged by the company. The lone pricing disclosure available on the company’s website is that its qualified rate for high-risk businesses begins at 2.49%. As a high-risk payment processor with multiple banking partners, it’s likely that the company’s contract terms and pricing will vary dramatically depending on each business’ type and processing history. It appears that standard risk clients can expect interchange-plus pricing.

PayKings also states that it offers “POS equipment options, equipment leases, and free terminal solutions,” which may indicate that the company signs clients up for long-term, non-cancellable equipment leases. Businesses are advised to purchase a quality EMV terminal rather than lease equipment whenever possible.

Virtual Terminal and Payment Gateway Pricing

In addition to its storefront payment processing services, PayKings 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.

Level 2 and Level 3 Processing Services

In addition to its traditional merchant services, PayKings also advertises that it provides Level 2 and Level 3 processing for B2B and B2G transactions. Level 2 and Level 3 processing rely upon different interchange rates than traditional consumer credit transactions. Accommodating those rates requires different payment processing technology from a merchant account provider to transmit the amount of data required to facilitate the transactions. These services are reserved for B2B and B2G purchases that utilize corporate credit cards.

Higher Risk, Higher Fees

High-risk merchants who sign up with PayKings should expect to pay higher-than-average fees beginning at 2.49%, 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 businesses pose. High-risk businesses can reduce their risk of fund-holds and chargebacks by being open and transparent with PayKings about their business type and product lineup from the start.

No Red Flags

We cannot find any PayKings complaints related to the company’s pricing, and there’s no reason to believe that the company’s clients are dissatisfied with their pricing at this time. It is possible that PayKings offers a wide range of potential contract types, so business owners should understand how to spot undesirable terms in their PayKings contract.

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

PayKings Employee Reviews & Sales Tacitcs

Should You Work For Them?

Key Points

Uses Independent Resellers Yes
Telemarketing Likely
Misleading Marketing Yes
Discloses All Important Terms No

Independent Sales Agents

The PayKings website currently advertises open positions for independent resellers, which is a good indicator that it currently employs a number of commission-only agents. The use of independent agents is commonly linked to high complaint rates, but in this case we are unable to locate any PayKings reviews. We will therefore assume for the time being that the company’s sales team receives adequate training and oversight.

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

PayKings Teaser Rate Quotes

PayKings rates are quoted on its website, including a quote of “Rates as Low as 1%” for standard risk merchants and “rates as low as 2.49%” for high-risk businesses. The company explicitly clarifies that its standard risk quote is a quote of 1% above interchange and that its high-risk quote is merely a qualified rate quote. While this is technically proper disclosure, it is clear that the company intends for its quotes to “tease” business owners into submitting an inquiry. Businesses should not expect that their effective rates will be anywhere near these listed rates.

No Red Flags

Given the fact that we have not found any allegations of sales misconduct, it appears that the company is generally straightforward about its pricing and fees. If you suspect that a PayKings sales agent has misled you about your rates, you can double-check your monthly bill with a third-party statement audit.

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

Our PayKings Review Summary

Our Final Thoughts

PayKings rates as a reliable credit card processing provider according to our rating criteria. The company enjoys a relatively clean complaint record and does not appear to overcharge its high-risk merchants. However, business owners should be aware that we have not found detailed information about the company’s pricing and fees. We will continue to monitor the company and update this review as needed. For now, readers should be sure to compare PayKings’ pricing and service to that offered by other top-rated high-risk credit card processors.

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Your Comments & Reviews

How Did PayKings Treat You?

2 Responses

  • Edvard Njål Sander Danielsen

    My payment processing was dropped after I had some issues with chargebacks for my web design business. Luckily for me the absolute professionals at PayKings were able to get me set up with a high risk merchant account and I was accepting payments again within 6 hours of calling. Thanks to PayKings my business is booming and I no longer have to worry about losing my merchant account. Thank you PayKings for saving my business.

    • Hi Edvard,

      Please reply to this comment with your business name and location in order to authenticate your testimonial. Thanks!

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