Payment Approved Reviews & Complaints

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An Austin-Based Payment Processor

Headquartered in Austin, Texas, Payment Approved is a merchant account provider that serves businesses of all sizes and types. It is likely that the company resells the products and services of a larger entity, but it does not disclose its backend processor or its acquiring bank on its website.

The company advertises itself as “the future of payments,” thanks to its proprietary API that can send funds across different platforms and networks at speeds of 10,000 transactions per second. Payment Approved advertises a P2P web/mobile app that it has developed on its website. This platform allows financial institutions to develop a channel by which their customers may send and receive money from their accounts. Furthermore, the company app can handle payroll processing, online bill payments, online invoices, and act as a POS system, among other things. The company also lists a similar app named Giddy as one it endorses to facilitate the same purpose.

In 2021, Payment Approved acquired Optima Compass, a RegTech and AML compliance company.

Payment Approved Payment Processing

Payment Approved offers payment processing for credit and debit cards, and it boasts a speedy setup and underwriting process. It also advertises state-of-the-art AML and KYC compliance monitoring for every transaction and a suite of products and features designed to provide a simple, trackable solution for AML compliance, reporting, API integration, white label app solutions, and transaction management. These features are called Compass, Agent Navigator, Giddy, Digital Ledger, CBIX, and Compass Intelligence.

Payment Approved Customer Reviews

Here's What Their Clients Say

Customer Reviews Summary
Total Online Complaints <10
Live Customer Support Yes
Most Common Complaint N/A

Clean Complaint Record

Our research reveals a lack of negative Payment Approved reviews, which strongly suggests that the company maintains ethical business practices and is not involved in scamming or defrauding merchants. While Payment Approved does provide a general phone number on its website, it’s not explicitly stated if this line is dedicated to customer support. If you have experiences or insights regarding Payment Approved’s services, we encourage you to share them in the comments below.

Payment Approved Lawsuits

In 2020, Payment Approved became involved in a patent lawsuit, which is still an active legal matter. Merchants looking for non-litigious methods to address issues with Payment Approved are advised to report their experiences to appropriate supervisory bodies for resolution.

Payment Approved Customer Support Options

Payment Approved offers a customer support form on its website, in lieu of a direct phone number or email address. The company may rely on its backend credit card processor to provide after-hours support. Despite these limitations in direct communication channels, Payment Approved appears to effectively resolve merchant concerns before they escalate to public platforms. Although Payment Approved has achieved an “A” rating due to its clean complaint record, it is not yet ranked among the premier providers for customer service.

Payment Approved Online Ratings

Here's How They Rate Online

No Profile

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

Payment Approved Fees, Rates & Costs

A Closer Look at The Contract

Cost & Fees Summary
Cancellation Penalties None known
Monthly/Annual Fees Yes
Processing rates 2.70% - 3.65% + $0.25


Payment Approved Pricing

Payment Approved has recently updated its website, leading to the removal of detailed terms and conditions previously available. The original content on their site outlined a month-to-month agreement devoid of early termination fees, along with a monthly access fee of $149. It also specified transaction fees of 2.70% plus $0.25 for Visa, MasterCard, and Discover card transactions, and 3.65% plus $0.25 for American Express transactions. The lack of detailed pricing on the current website version suggests a possible revision of their pricing model, though specific details remain unconfirmed.

Fairly Average Terms

While the transaction fees presented by Payment Approved align with industry standards, the monthly access charge of $149 might only be deemed reasonable for merchants who benefit significantly from Payment Approved’s software solutions. Merchants looking for clearer pricing structures might find better options with low-cost merchant account providers offering interchange-plus pricing. Despite these considerations, the absence of merchant feedback regarding Payment Approved’s contract terms has led to an “A” rating for now, reflecting a cautious optimism pending further information.

Payment Approved Employee Reviews & Sales Tacitcs

Should You Work For Them?

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

Multifaceted Sales Approach

Payment Approved appears to primarily market its services via a combination of inside sales, traditional advertising, and strategic partnerships. There is no evidence at this time that the company employs a large team of independently contracted sales agents, and we have not found any Payment Approved reviews that accuse the company’s reps of nondisclosure or misrepresentation.

No Sales Complaints

Given the total absence of complaints related to the company’s sales practices, we have assigned Payment Approved an “A” in this category.  If you suspect that Payment Approved is charging you undisclosed fees, we recommend seeking a free third-party statement audit.

Our Payment Approved Review Summary

Our Final Thoughts

Payment Approved stands out as a trustworthy merchant services provider based on our assessment criteria. The company has managed to avoid negative feedback across prominent consumer protection websites, a testament to its consistent service quality. Its contract terms appear to be in line with industry standards. This predictability provides merchants with clarity and a sense of stability when considering Payment Approved as their provider.

However, with a monthly cost of $149, merchants are advised to assess whether they genuinely require the full suite of services that Payment Approved offers. This evaluation will help ensure that the investment aligns with their specific business needs and that they are fully leveraging the provider’s capabilities. For those who don’t require these comprehensive features, it may be advantageous to explore other top-rated processors that offer competitive services at a lower price point. Doing so will ensure business owners secure the most cost-effective and suitable solution, maximizing value while meeting their payment processing needs.

Location and Ownership

Payment Approved appears to operate out of WeWork, which maintains a location at 600 Congress Ave, 14th Floor, Austin, TX. Jason Montoya is the CEO of Payment Approved.

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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 Payment Approved Treat You?

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