Paynet Systems is a small to mid-size merchant account provider based in Alpharetta, Georgia. Founded in 1999, the company was bought by Pipeline Data in 2006 but continues to operate as its own brand. Unfortunately for Paynet Systems, Pipeline was one of the poorest-rated processors in the credit card processing industry before its dissolution. With that said, it appears that Paynet may have shielded itself from Pipeline’s reputation and has since been able to operate independently of Pipeline. For this reason, we will treat Paynet as its own company for the purposes of this review. It should be noted that Paynet Systems is not the same company as Paynet Systems, LLC.
Paynet Systems Payment Processing
The company offers payment processing and credit card processing support for all sizes of businesses. Their systems support keyed-in transactions and credit/debit card processing. They also offer free virtual point of sale for online processing and a free webstore to merchants.
Paynet Systems' Point of Sale Systems
The company provides point-of-sale (POS) systems that enable businesses to manage in-person transactions efficiently. These systems can track sales, manage inventory, and generate reports, providing valuable insights into business performance.
eCommerce Solutions from Paynet Systems
Paynet Systems offers solutions for businesses that operate online. They provide a secure platform for eCommerce transactions, ensuring safe and reliable online sales.
Mobile Payment Processing by Paynet Systems
Mobile payment processing is another service offered by Paynet Systems. This service allows businesses to accept card payments on mobile devices, providing flexibility and convenience for businesses operating on-the-go or at remote locations.
Paynet Systems' Merchant Cash Advance
Paynet Systems also offers a merchant cash advance service. This service provides businesses with access to funds by purchasing a portion of their future sales. This can offer a valuable cash flow solution for businesses needing immediate capital.
Location & Ownership
Paynet Systems, located at 5955 Shiloh Rd #100, Alpharetta, Georgia 30005, is a registered ISO/MSP of Wells Fargo Bank, N.A., Walnut Creek, California, and of Synovus Bank, Columbus, Georgia. Jack Chevalier is listed as the president of Paynet Systems.
Table of Contents
- Costs & Contract: Appears to offer a 6-month contract with…
- Complaints & Service: Complaints number more than 15 on…
- BBB Rating: Has an “A+” rating with the Better Business Bureau and has received…
- Sales & Marketing: Does not appear to hire independent sales representatives but has received…
|Strong POS support
|High-risk business types unsupported
|No monthly fees
|Funds transfers can take days
|Live phone support
|Occasional account stability issues
|No chargeback fees
|Advanced features require monthly fee
|Affordable card readers
|Not suitable for high-risk businesses
|Predictable flat-rate pricing
|Extra scrutiny for CBD merchants
Paynet Systems Customer Reviews
Here's What Their Clients Say
|Total Online Complaints
|Live Customer Support
|Most Common Complaint
Low-Moderate Complaint Total
There are more than 15 negative Paynet Systems reviews on this and other consumer protection websites. It should be noted, though, that because Paynet Systems, LLC. has an almost identical name, it may be that reviews for the two companies are getting mixed together. Compared to providers of similar sizes, this is an average amount. Although most of the Paynet Systems reviews are not overly alarming, there is a theme of clients complaining of unexpected fees, improper billing, poor customer support, and difficulty canceling service. Paynet has responded to a few of these complaints, but not many, although the company’s responses are usually professional in tone. if you have your own Paynet Systems review to make, please do so in the comments below.
Paynet Systems Lawsuits and Fines
We have not found any outstanding class-action lawsuits or FTC complaints filed against Paynet Systems. Dissatisfied clients who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations.
Paynet Systems Customer Support Options
The Paynet Systems website lists a single phone support numbers for its clients as well as offering a contact form. These channels, regardless, were not sufficient to qualify the company as a quality payment processor for customer service.
Paynet Systems Customer Service Number
- (800) 809-1989 – General Support
Other Support Options
- Support form
Paynet Systems Online Ratings
Here's How They Rate Online
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
As of this review, the Better Business Bureau is showing Paynet Systems as not approved under its accreditation program. The BBB is reporting a rating of an “A+” based upon 0 complaints filed within the last 36 months, which is a significant decline in complaints since our last review.
An “A” Rating
Given the company’s clean complaint record, we agree with the BBB’s rating at this time. Business owners should be aware, however, that there are definite reasons to be skeptical of the BBB’s information.
Paynet Systems Fees, Rates & Costs
A Closer Look at The Contract
|Monthly & Annual Fees
|3.50% + $0.30
|Equipment Lease Terms
|Undisclosed Monthly Fee
“Swiped” rate requires the Paynet Systems card reader and applies to qualified swipedVisa/MC/Discover network transactions. Most rewards, corporate, government and international card types are considered non-qualified transactions and merchant will be charged the non-qualified rate.
“Manually Keyed Rate” will be charged on all qualified manually keyed Visa/MC/Discover Network transactions that have verified addresses and CVV2 information. Any Visa/MC/Discover network transaction that does not meet the requirements for swiped and/or manually keyed rates will be charged a non-qualified rate of 3.50% and $0.30.
Due to this fact, clients should be aware that Paynet Systems’ rates and fees will vary from business to business based on a variety of factors. Businesses being charged the non-qualified rate by the company could be charged as high as 3.50% plus $0.30 for both swiped and keyed-in transactions. Several clients have reported a variety of other monthly fees that were either unexpected or higher than originally quoted. It is unclear at the time of this review if the company charges a PCI compliance fee of any kind. The company’s merchant agreement also includes a clause that assesses a monthly leasing fee of any credit card terminal. One version of Paynet’s terms and conditions can be found here.
Virtual Terminal and Payment Gateway Pricing
In addition to its storefront payment processing services, Paynet Systems 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.
Paynet Systems Contract Terms
On a positive note, Paynet offers short-term service agreements that appear to vary from three to six months with a $75 early cancellation fee, which is far less than the industry average. The company enforces a variable monthly minimum fee depending on which service a client uses. Businesses processing up to $5,000 annually are also afforded the option of paying a $9 monthly fee without any transaction fees. However, charges exceeding that threshold are charged a non-qualified rate of 3.50% plus $0.30.
Additionally, the company offers a smartphone processing service that reportedly waives a $10 monthly service fee for the first six months. Business owners should compare Paynet Systems’ terms to those of cheap merchant account providers and are highly encouraged to review all contract terms and request any relevant information regarding pricing structures in order to avoid unexpected fees.
We also encourage business owners to check out our list of the providers of the best merchant accounts.
Paynet Systems Employee Reviews & Sales Tacitcs
Should You Work For Them?
|Uses Independent Resellers
|Discloses All Important Terms
Misleading Rate Quotes
Paynet Systems has received an average rating in this section because it formerly promoted misleading rates and fee quotes on its website. It did this by prominently quoting the “Qualified” transaction rate and making no mention of the more expensive “Mid-Qualified” and “Non-Qualified” rates that 50-80% of a client’s transactions will experience, except in minuscule font far below the Qualified quote. Additionally, Paynet does not disclose other ancillary fees such as batch fees, statement fees, AVS fees, etc.
This does not compare favorably to our list of best credit card processors.
Aside from the misleading quotes, we found no other use of deceptive marketing or sales tactics, other than a few Paynet Systems reviews from businesses reporting that company representatives failed to disclose full pricing prior to account setup. The company appears to market primarily through partnerships, affiliates, and an inside sales staff. If you suspect that you are being charged undisclosed Paynet Systems fees, we recommend seeking a third-party statement audit to find and eliminate hidden charges.
Copyright © 2024 CardPaymentOptions.com, Inc. (Digital Fingerprint: 0d38c6720f0d78a701b74d58653af608). Getting paid to re-write this page? Click here to earn a reward.
Any unauthorized copying and reproduction of the content of this page, including all meta data and computer code, is strictly prohibited. While the information in the above article is believed to be accurate as of its publish date, the author and publisher make no representation or warranties with respect to the accuracy, applicability, fitness, or completeness of the contents. The author and publisher shall in no event be held liable to any party for any direct, indirect, punitive, special, incidental or other consequential damages arising directly or indirectly from any use of this material, which is provided “as is,” and without warranties. Any and all use of trade names and/or marks are for identification purposes only and shall not be construed as a claim of affiliation, or otherwise, with CardPaymentOptions.com, Inc. ("CPO") in any form. The sole purpose of the material presented herein is to alert, educate, and inform readers. It is not intended as legal or financial advice. We may earn revenue if you obtain services from a provider that we recommend. See this page to learn how we support our operations.