PayNetSecure Credit Card Processing 2023: Reviews & Complaints

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image of a phone image of a phone that changes when your mouse hovers over it (888) 572-9638 View Pricing

Company Overview

Based in Las Vegas, Nevada, PayNetSecure is a merchant account provider that specializes in serving domestic and offshore high-risk e-commerce business types. The company shared an address at one point with another company called NationalACH, and it appears that both PayNetSecure and NationalACH may be related to a third company called Best Solutions Source. PayNetSecure does not list a backend processor or acquiring bank on its website, but the fact that the company specializes in high-risk and offshore merchants means that it is probably partnered with multiple banks.

Article Summary

Before we dive in, here’s a short summary of what we’ll cover:

  • PayNetSecure’s various payment processing services.
  • The company has received few complaints.
  • There is little information about the company’s contract.
  • PayNetSecure services high-risk merchants.

PayNetSecure Payment Processing

PayNetSecure processes most major debit and credit cards and focuses on high-risk and high-volume businesses. According to the company’s website, it specializes in serving merchants in the adult entertainment, foreign exchange, CBD, and diet/weight loss industries, as well as Bitcoin merchants. The company’s services include mobile solutions, e-commerce solutions, virtual terminals, access to payment gateways, MOTO, processing for 160 currencies, fraud protection, PCI compliance, recurring payments, ACH processing, QuickBooks integration, and chargeback management. It should be noted that they do not mention in-person options such as POS systems or terminals on their site.

High-Risk Merchant Account Services

PayNetSecure offers specialized payment processing solutions for high-risk merchants. This service aims to facilitate payment processing for businesses that fall under the high-risk category due to their industry type, high chargeback rates, or other related factors.

Domestic and International Processing

The company extends its services both domestically and internationally, leveraging an extensive network of banking relationships to ensure account approval for its clients. This wide banking network is instrumental in facilitating payment processing solutions for merchants irrespective of their geographical location​.

Secure Payment Gateway

PayNetSecure provides a Level 1 PCI-DSS compliant payment gateway to ensure the secure handling of transactions. This security measure is crucial for protecting sensitive payment information during transactions.

High Volume Processing

For businesses with high transaction volumes, PayNetSecure offers processing solutions that can handle a large number of transactions efficiently.

ACH and Echecks Processing

The company provides ACH (Automated Clearing House) and eChecks processing services, which can potentially increase sales by up to 20%. This service facilitates electronic money transfer between banks, providing an alternative payment method to traditional credit and debit card transactions​.

Global eCommerce Solutions

PayNetSecure offers global eCommerce solutions to expand a merchant’s customer base worldwide. This service is particularly beneficial for businesses looking to tap into international markets and accept payments in multiple currencies​.

Ecommerce Integration

The service includes eCommerce integration, enabling merchants to sell online quickly and easily with full-stack APIs that speed up the time to market. This feature is helpful for modern businesses aiming to establish or expand their online presence​.

Virtual Terminals

Virtual terminals provided by PayNetSecure allow for the secure acceptance of Mail Order/Telephone Order (MOTO) transactions.

Fraud and Chargeback Protection

PayNetSecure has robust fraud-fighting tools and chargeback management systems in place to protect merchants. These automated systems help in accepting good orders while declining potentially fraudulent ones.

Cloud Reporting

Merchants have access to cloud reporting features that provide all necessary information with the click of a button. This service allows for the management of multiple merchant accounts from a central dashboard, including the monitoring and management of transaction data​.

Multi-currency Processing

The multi-currency processing feature allows merchants to accept payments in 154 different currencies. This service facilitates international transactions, offering a way to get more sales from international shoppers​.

Location & Ownership

Konrad Toch is the president and CEO of PayNetSecure. The company is headquartered at 3773 Howard Hughes Parkway, Las Vegas, Nevada 89169.

Table of Contents

PayNetSecure high-risk merchant services
PayNetSecure focuses on offering processing to high-risk industries like those above

PayNetSecure 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

Clean Complaint Record

We are unable to locate any negative PayNetSecure reviews at this time, which is a good sign that the company is not a scam or a ripoff. High-risk credit card processors tend to receive more complaints than standard-risk providers due to the volatile nature of their merchant pool, so PayNetSecure’s clean complaint record is exceptional among companies of its type. It’s possible that some complaints intended for PayNetSecure have been mistakenly filed against the company’s partner banks, but there is no evidence that this is occurring. If you have your own PayNetSecure review to make, please do so in the comments below.

PayNetSecure Lawsuits

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

PayNetSecure Customer Support Options

PayNetSecure offers 24/7 phone support to its merchants as well as a contact form on its website. However, these channels are not sufficient to qualify the company as a top-rated provider for customer service.

PayNetSecure Customer Service Number

  • (888) 572-9638 – Toll-Free Support

Other Support Options

PayNetSecure Online Ratings

Here's How They Rate Online

No Dedicated Profile

The Better Business Bureau does not maintain a profile for PayNetSecure at this time. NationalACH, which previously shared an address with PayNetSecure, has an “A+” through the BBB with 0 total complaints. This profile does not appear to cover PayNetSecure, so we will not factor a BBB rating into this review for the time being.

PayNetSecure Fees, Rates & Costs

A Closer Look at The Contract

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

Customizable Pricing

There is very little specific information available regarding the standard PayNetSecure contract at this time. The fact that the company supplies high-risk merchant accounts means that it will customize its pricing for each business according to business type, processing history, and time in business. This means that clients may encounter a wide range of contract terms through the company.

PayNetSecure Pricing Ranges

PayNetSecure does provide general pricing guidelines for different types of businesses. For high-risk U.S. business types, the company quotes a per-transaction fee between 2.45% plus $0.25 and 4.5% plus $0.30, a monthly fee between $10 and $20, and a rolling reserve of up to 10%. For high-risk offshore clients, the company quotes a per-transaction fee between 3.5% and 6.95% plus $0.65, a monthly fee between $50 and $150, and a rolling reserve between 5% and 10%. For international e-commerce clients, the company quotes a per-transaction fee between 2.95% and 4.95% plus $0.45, a monthly fee of up to $50, and a rolling reserve of up to 5%.

Application Requirements

The PayNetSecure homepage states that U.S. businesses must process at least $50,000 per month and that international businesses must process at least $100,000 per month in order to apply. PayNetSecure does not list any details about whether it charges an early termination fee or a PCI compliance fee, so it’s likely that these fees will vary from client to client. We cannot find any complaints related to PayNetSecure’s pricing and fees at this time, which is a positive sign that most of the company’s clients are satisfied with the rates they are paying. High-volume businesses should carefully compare providers to ensure their needs are met.

PayNetSecure Employee Reviews & Sales Tacitcs

Should You Work For Them?

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

Independent Resellers

PayNetSecure appears to utilize a combination of independent sales offices and referral partnerships to market its services. The use of independent resellers is usually linked to high complaint totals because these types of sales offices tend to receive less training and oversight than in-house sales teams. In this case, however, we have not found any PayNetSecure reviews that mention deceptive tactics by the company’s sales team.

A Rate Chart Guideline

The PayNetSecure website includes a “Rates” page that provides general price ranges to help clients assess their potential costs through the company. The page lists ranges of rates and fees rather than the lowest possible “teaser” quotes. It therefore appears that PayNetSecure’s rate quotes are genuinely intended to help business owners anticipate their potential costs rather than to mislead them. However, readers should not assume that the costs shown in this table are all-inclusive. If you suspect that PayNetSecure is charging you undisclosed fees, we recommend seeking a third-party statement audit to find and eliminate hidden charges.

PayNetSecure payment processing rates

The rates chart for PayNetSecure

Our PayNetSecure Review Summary

Our Final Thoughts

PayNetSecure rates as a reliable credit card processing provider according to our rating criteria. The company is not showing any public complaints at this time, and the contract terms that it discloses are competitive for high-risk merchant types. Our rating may be subject to change once the company receives more public feedback or establishes a profile with the BBB.

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