Paynada Reviews & Complaints
Overview
In this comprehensive review, we will investigate the operations and reputation of Paynada. Our analysis navigates through the complex landscape of their services, offering insights into their rates, fees, and contract terms. We shed light on common complaints and scrutinize industry ratings, alongside examining Paynada's marketing tactics and the diverse opinions in employee reviews. We explore the functionalities and offerings of Paynada's Point of Sale systems, with a particular focus on their partnerships and the variety of POS systems they provide.
The article also addresses Paynada's mobile processing solutions, highlighting their suitability for businesses requiring on-the-go payment options. For online merchants, we discuss Paynada's secure eCommerce payment solutions, emphasizing their integration capabilities and security measures. The review further explores the company's complicated corporate structure, revealing connections with other credit card payment companies and providing insight into their leadership and partnerships.
We meticulously weigh the pros and cons of Paynada's services, juxtaposing competitive pricing and reliable customer support against potential additional fees and complex fee structures. This piece also includes a critical examination of customer reviews and complaints, giving voice to users' experiences with the company. We investigate allegations and lawsuits, aiming to present a balanced and comprehensive view of Paynada's operations.
In our quest to bring transparency to merchant services, we highlight concerns about equipment terms and the challenges faced by clients regarding POS functionality and pricing. This review also scrutinizes Paynada's customer support options, providing contact information and assessing the effectiveness of their support systems.
Lastly, we compare Paynada's processing costs with industry standards, offering a critical perspective on their contract pricing and negotiation strategies. The article concludes with an evaluation of Paynada's employment practices and sales tactics, aiming to inform potential employees and clients alike. Our final thoughts encapsulate the complexities of Paynada's business model, the evolution from its TranzVia roots, and the implications for businesses considering their services.
About Paynada
Paynada is a merchant account reseller based out of Plano, Texas. Not to be confused with PayAnywhere, the company recently operated under the name TranzVia and we will consider complaints from both companies in this review. According to comments left on a Better Business Bureau complaint made by TranzVia employees, it is likely both companies are resellers of Fiserv merchant accounts. Paynada heavily utilizes a surcharge model and advertises little to no fees for their merchant accounts.
Paynada Point Of Sale (POS)
Paynada’s current website offers very little information detailing what kind of POS systems they offer beyond what they refer to as a “wide variety of terminals and POS Systems.” We can assume they offer Clover products on some level, since Fiserv prefers them for all of their merchant accounts. It is also possible Paynada partners with other POS providers. In addition to Fiserv, they also partner with EPX/NAB and offer Payanywhere, multiple types of POS devices, and a proprietary POS system called MPOS that is available in Spanish and English.
Mobile Processing with Paynada
For businesses on the go, Paynada provides mobile processing solutions. Using a simple card reader and their mobile app, businesses can accept payments from anywhere, at any time. This provides added flexibility, making it an ideal solution for businesses like food trucks, pop-up shops, or service providers working on location.
Paynada's eCommerce Payment Solutions
For businesses operating online, Paynada offers a secure eCommerce payment gateway. This gateway allows businesses to accept online payments from a variety of methods including credit cards and electronic checks. The eCommerce solution is designed to integrate seamlessly with a business's website, providing a smooth and intuitive checkout experience for customers.
Paynada's Secure Payment Processing
Security is a top priority for Paynada. The company uses advanced encryption and tokenization technologies to ensure that every transaction is secure. Additionally, Paynada's services are fully compliant with Payment Card Industry Data Security Standards (PCI DSS), ensuring that businesses using their services are adhering to these important standards.
Location & Ownership
The exact details of Paynada’s corporate structure are complicated and unclear at times. There are at least 3 credit card payment companies that have been located at 6509 Windcrest Dr # 160 Plano, TX 75024.
These businesses include Paynada, TranzVia, and Merchant Pay Network. We can directly confirm the connection between the first two companies, but it may be possible Merchant Pay Network was only a tenant at this location.
Currently, the TransVia holding company lists its address as 333 E Bethany Dr STE J120, Allen, TX, 75002, which is also the former location of Paynada. The current location of Paynada is 825 Watters Creek Blvd #330, Allen, TX 75013.
James Mincey is listed online as the president of Paynada and Justin Muntean reports that he is the CEO on LinkedIn. Paul Nee is also likely to be involved in some capacity with the company at some point according to public information on the TransVia holding company. According to Paynada representatives, Paul Nee has not been with the company since 2018.
Paynada does not disclose its partner banks. TranzVia is a registered ISO of Wells Fargo Concord, CA.
| Pros: | Cons: |
|---|---|
| Competitive pricing fees | Limited international use |
| Reliable Customer Support | Variable pricing models |
| Easy integration options | Potential additional fees |
| No contract requirement | Complex fee structures |
| Advanced security features | Occasional system downtimes |
Paynada Customer Reviews
Here's What Their Clients Say
| Total Online Complaints | <10 |
|---|---|
| Live Customer Support | Yes |
| Most Common Complaint | N/A |
| Recent Lawsuits | Yes |
Concerning Complaints Under TranzVia
While there are few negative Paynada reviews under its current name, the same cannot be said for TranzVia, facing several serious accusations, including being labeled a ripoff and engaging in dishonest business practices. Complaints on the Better Business Bureau page echo these sentiments, with TranzVia often refuting the accusations as inaccurate or false.
Recurring Issues with Paynada
A prevalent concern in negative Paynada reviews is the persistence of charges post-contract expiration, synonymous with unscrupulous credit card processing companies. TranzVia representatives justify this as ongoing service provision akin to cell phone contracts, though many view it as a critical oversight. In response, Paynada attributes these terms and agreements to their partner banks, asserting initiatives to enhance customer awareness of termination guidelines.
Equipment Challenges
Specific complaints regarding Point of Sale (POS) functionality and pricing have emerged as significant concerns. Instances include multiple POS system replacements failing to meet promised functionalities, clients encountering exorbitant equipment rates, and altered terms post-purchase, with reports of customers seemingly locked in non-cancellable equipment contracts. The heavy reliance on external sales teams by Paynada and TranzVia may contribute to these issues, potentially linked to inadequately trained and overly aggressive sales representatives. However, confrontational responses from TranzVia raise doubts about their approach. Paynada indicates a shift away from call-center-oriented operations, engaging more closely with clients post-TranzVia era to tackle these issues.
Paynada Lawsuits
While several lawsuits have been filed against TranzVia, specific details and outcomes are not readily accessible. Allegations range from potential violations of the Telephone Consumer Protection Act (TCPA) to a personal injury claim. Paynada refutes these lawsuit claims, stating that the TCPA matter targeted a third-party lead generation entity, absolving TranzVia following the discovery phase.
Paynada Customer Support Options
Paynada’s customer support offerings appear limited, with no dedicated options listed on their basic website. Contact options are restricted to a generic email address.
Paynada Customer Service Contact Information:
- General Contact: (972) 590-8944
- After Hours Support: (888) 801-0080
Other Support Options:
- Support form
Paynada Online Ratings
Here's How They Rate Online
| BBB Rating | N/A |
|---|---|
| Average Rating | N/A |
BBB Rating Analysis for Paynada
Paynada has an A- rating from the Better Business Bureau (BBB). However, it is important to note that this business is not BBB accredited. As of the latest information, Paynada has no customer reviews or complaints filed on the BBB website.
Negative Feedback
There are no negative customer reviews available for Paynada on the BBB website.
Positive Feedback
There are no positive reviews published about Paynada on the Better Business Bureau website.
Source: Better Business Bureau
Paynada Fees, Rates & Costs
A Closer Look at The Contract
| Cancellation Penalties | Unclear |
|---|---|
| Monthly & Annual Fees | Unclear |
| Processing Rates | Unclear |
| Equipment Leasing | Yes |
Lacking Concrete Figures
Paynada does not explicitly disclose its credit card processing rates, leaving potential clients with limited information. While there’s a mention of a 3.85% customer service fee applied to all transactions, details regarding this fee are scarce. The surcharge model utilized by Paynada is not novel in the credit card processing industry, and though they mention offering ‘traditional processing,’ specifics about this service are lacking. Additionally, Paynada promotes a cash discount program often associated with surcharge pricing. They reportedly provide various processing methods, including card present, moto, and e-commerce, along with multiple pricing structures such as flat rate, tiered, interchange plus, surcharge, and cash discount.
A Paynada representative mentioned, “We offer a standard 3-year processing agreement with a low ETF of $295. Depending on a merchant’s situation, we can also offer month-to-month terms and seasonal terms. We aim to be flexible to meet our merchant’s needs.” Verification of these terms from recent Paynada customers would be valuable.
What About Equipment Costs?
While Paynada presents its pricing as straightforward, it lacks information about POS systems, terminal costs, and contracts. This raises concerns, especially considering online complaints about unfavorable equipment lease terms and inappropriate POS systems sent to businesses. Paynada representatives state that they “offer free placement, rental, loaner, purchase, and lease through FDGL.”
Negotiate Contract Pricing
A Paynada merchant account contract was not found at the time of this review. Business owners who recently engaged with Paynada for payment services are encouraged to share their experiences. It is advisable for business owners to negotiate pricing and contract terms diligently and to thoroughly review all contracts before signing.
Paynada Employee Reviews & Sales Tacitcs
Should You Work For Them?
| Uses Independent Resellers | Yes |
|---|---|
| Telemarketing | Yes |
| Misleading Marketing | Yes |
| Discloses All Important Terms | No |
Major Evidence of Independent Sales Teams
According to job listings on various job websites, it appears that Paynada heavily utilizes outside sales teams. It’s also interesting to note that some of the listings mention both TranzVia and Paynada interchangeably. Independent and outside sales teams are known to employ pushy and manipulative sales tactics. Moreso, the Paynada reviews indicate a lapse in what merchants are being sold versus the service they’re receiving is a major red flag.
Paynada Contract Terms
Paynada does not directly advertise their contract rates beyond their claim that clients pay nothing. This should come as a huge warning sign to all businesses, and we strongly recommend reading all legal documentation and contracts thoroughly before signing. If any of our readers has a recent example of a Paynada contract, please comment below.
Our Paynada Review Summary
Our Final Thoughts
Paynada was brought to our attention as a credit card processing provider from user reports of the non-cancellable equipment contracts that we have confirmed to be used under their previous name, TransVia. Paynada’s attempt to separate itself from the negativity of the previous brand is understandable; however, the extremely barebones website, little contract information, and lingering scathing reports do not invoke any new degree of confidence in their services. The overuse of outside sales teams and reports of businesses not getting the POS systems they were promised solidifies our initial suspicions. While we are hopeful and optimistic Paynada steps up its service quality, we cannot recommend them as a payment processor at this time.
A representative from Paynada has contacted CPO to express their concern for our current rating and wanted to reaffirm their distance from the TransVia model. It was explained the transition to Paynada from TransVia was to reestablish a new company culture while providing better service for their clients. While we welcome our processors to provide any clarity to their operations, more time will be needed to get a clear picture of the new operating culture. We look forward to providing an updated review in the future as the Paynada brand becomes more established.
If you found this article helpful, please share it!
George Michael
Honestly hands down the best experience I’ve had with a cc company. The sales person has been great fully managing anything that has come up, unlike most companies where they disappear after the sale is through. I haven’t really had any issues with my equipment at all, just some questions. Aside from that, I’ve saved major money switching to Paynada, so much we’re looking to expand a second location!
Phillip CPO
Hi George,
Please reply with your business name and location to authenticate your testimonial. Thank you!
Alex
Don’t do business with these miserable people, 10 days have already passed without depositing daily sales and I called almost 3 times a day and they only say maybe the next day
Aislinn Willander
Alex, thank you for bringing your situation to our attention. After taking a close look at your account, we have some detailed (albeit private) information to provide that we believe will resolve this issue and prevent it from occurring again in the future. Please contact us at [email protected] or 888-801-0080 and we will be glad to assist you.
Sean
The worst credit card company you can Ever deal with liars thieves show many hidden fees the sales rep will come sell you stuff it’s not even existed they tell you they don’t choice so many things and they will give you the equipment for free the POS system but they will charge every single thing they can chores and overcharge and on top of that the worst customer service ever
DAVE
You are so right; I have a complaint. Trying to send back the machine, no one will ever give me the address. i call 3 times, they are pushing me around. Don’t know who to speak to, it has been a month I contact this company, and my problem cannot resolve. I will never recommend this company to anyone. I rate this company 0 star.