Payswipe Credit Card Processing 2023: Reviews & Complaints
Founded in 2004, Payswipe is a merchant account provider that serves most standard business types. The company distinguishes itself from its competitors by openly advertising that it can process payments for CBD and hemp vendors through its “SYMPLEhemp” solution.
Payswipe Payment Processing
Payswipe processes all major debit and credit cards for most business types. Their services include EMV card readers and swipers, POS solutions, mobile payments, business loans, e-commerce solutions, NFC payments, ACH payments, and loyalty and rewards programs.
Location & Ownership
Table of Contents
Payswipe Customer Reviews
Here's What Their Clients Say
|Total Online Complaints||<10|
|Live Customer Support||No|
|Most Common Complaint||N/A|
Clean Complaint Record
We are currently unable to locate any Payswipe reviews, and there is no evidence to suggest that the company is a ripoff or a scam. This clean complaint record is enviable for a company that has operated since 2004. It is also uncommon in the high-risk space, as these types of processors typically rack up complaints about fund holds or canceled accounts. If you have your own Payswipe review to make, please do so in the comments below.
Payswipe Lawsuits and Fines
We have not found any outstanding class-action lawsuits or FTC complaints filed against Payswipe. Dissatisfied clients who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations.
Payswipe Customer Support Options
Payswipe does not list any dedicated support contact information on its website, but it does list a general contact number and email address. This falls short of our expectations of top-rated payment processors for great customer service.
Payswipe Customer Service Number
- (800) 407-7803 – Toll-Free Support
Other Support Options
- Customer service email address at [email protected]
Payswipe Online Ratings
Here's How They Rate Online
No Profile Available
The Better Business Bureau does not maintain a profile for Payswipe at this time. We therefore will not factor a BBB rating into this review.
Payswipe Fees, Rates & Costs
A Closer Look at The Contract
|Monthly & Annual Fees||Yes|
|Processing Rates||1.00% - 4.99%+|
Payswipe Contract Terms
There is no publicly available information about the standard Payswipe rates or contract, but it’s likely that the company’s pricing will vary from merchant to merchant. It is entirely likely that standard-risk businesses could pay monthly minimum fees, PCI compliance fees, and early termination fees through the company.
Virtual Terminal and Payment Gateway Pricing
In addition to its storefront payment processing services, Payswipe also dedicates a portion of its website to advertising its virtual terminal and payment gateway services, provided by City Hive. According to the City Hive website, the company offers merchants the option to choose between 4 different plans: the Starter, Growth, Professional, and Enterprise plans. Each of these plans operates from month to month without the need for any long-term contract.
The Starter plan is aimed at businesses with up to 1,000 customers and costs $49 per month along with a transaction fee of 2.50%. The Growth plan accommodates businesses with up to 2,500 customers for $99 per month and a rate of 2.50% per transaction. The Processional plan costs $149 per month at a slightly lower rate of 2.40% for businesses with up to 5,000 customers. Lastly, the Enterprise plan is designed for businesses with up to $10,000 customers, costing $249 per month at a rate of 2.30% per transaction.
High-Risk, High Fees
The CBD industry is currently as high-risk as they come, which means that payment processors who serve CBD businesses often charge high rates, require six-month rolling reserves, and enforce very strict chargeback limits. Hemp businesses who opt to work with Payswipe should therefore expect more restrictive pricing and contract terms than standard-risk clients usually receive.
No Red Flags
We cannot find any complaints about Payswipe’s contract terms, which suggests that most of its users are satisfied. CBD and hemp clients, however, should not expect Payswipe’s pricing to compete with the cheapest merchant accounts. If you have any information about the standard Payswipe agreement, please share it in the comment section below.
We also encourage readers to check out our list of the providers of the best merchant accounts.
Payswipe Employee Reviews & Sales Tacitcs
Should You Work For Them?
|Uses Independent Resellers||No|
|Discloses All Important Terms||No|
In-House Sales Team
Payswipe appears to market itself primarily through web advertising and referrals. There is no evidence that the company hires independent sales agents, and we have seen no Payswipe reviews that mention deceptive sales conduct or misleading rate quotes.
This compares favorably to our list of best credit card processors.
The Payswipe website does not list any misleading rate quotes or unrealistic guarantees. For now, we don’t see any reason to warn businesses against Payswipe. However, if you believe that the company has misrepresented itself to you, you can double-check your monthly bill with a third-party statement audit.
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