In this review of PaySwipe, we will provide a detailed overview of the company’s payment processing solutions, including credit card processing, point-of-sale systems, and e-commerce services. We will discuss the pricing structure, contract terms, and customer feedback to give you a clear understanding of what PaySwipe offers. Additionally, we will examine the transparency of their fees, the quality of their customer support, and the overall satisfaction levels reported by their clients. By the end of this article, you will have a comprehensive understanding of whether PaySwipe meets your business’s payment processing needs.
About Payswipe
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 processes all major debit and credit cards for most business types.
EMV Card Readers and Swipers
For businesses requiring physical transaction equipment, Payswipe offers EMV card readers and swipers. These devices are compatible with the latest security standards.
POS Solutions
The company also provides point-of-sale (POS) solutions tailored to meet the needs of different business environments. These systems integrate with other services, allowing for streamlined operations.
Mobile Payments
Mobile payment options are another offering from Payswipe. These solutions enable businesses to accept payments on the go, for buesinesses operating outside of traditional storefronts.
Business Loans
In addition to payment processing, Payswipe offers business loans. These financial services are designed to support business growth and help companies manage cash flow challenges.
e-Commerce Solutions
For those engaged in online retail, Payswipe provides e-commerce solutions. These tools facilitate secure online transactions.
NCH Payments
Payswipe also supports NFC payments, allowing for contactless transactions.
ACH Payments
ACH payments are another service offered by Payswipe. These payments allow businesses to process electronic transfers directly from bank accounts, providing an alternative to card-based transactions.
Loyalty and Rewards Programs
Payswipe offers loyalty and rewards programs. These programs are designed to help businesses retain customers and encourage repeat business.
Payswipe Customer Reviews
Here's What Their Clients Say
Customer Reviews Summary
Total Online Complaints
<10
Live Customer Support
No
Most Common Complaint
N/A
Recent Lawsuits
No
Clean Complaint Record
At present, we cannot locate any Payswipe reviews, and there’s no indication to suggest that the company is involved in any scams or ripoffs. This impeccable complaint record is commendable for a company that has been in operation since 2004. It’s particularly noteworthy in the high-risk space, where processors often accumulate complaints regarding fund holds or account cancellations. If you have your own Payswipe review to share, please feel free to do so in the comments below.
Payswipe Lawsuits and Fines
As of now, there are no outstanding class-action lawsuits or FTC complaints filed against Payswipe. Dissatisfied clients looking to take non-litigious action against the company should consider reporting it to the relevant supervisory organizations.
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
Rates & Fees Summary
Cancellation Penalties
Possible
Monthly & Annual Fees
Yes
Processing Rates
1.00% - 4.99%+
Equipment Leasing
Likely
Payswipe Contract Terms
Detailed information about Payswipe’s rates and contract terms is not readily available to the public. It’s possible that Payswipe’s pricing and fees might differ between merchants. Common industry practices suggest that businesses, particularly standard-risk ones, might incur monthly minimum fees, PCI compliance fees, and early termination fees with their agreements.
Virtual Terminal and Payment Gateway Pricing
Payswipe, in partnership with City Hive, offers various plans for virtual terminal and payment gateway services. These include the Starter, Growth, Professional, and Enterprise plans. All plans are month-to-month with no long-term contract requirements.
The Starter plan, targeting businesses with up to 1,000 customers, costs $49 monthly with a 2.50% transaction fee. The Growth plan, for up to 2,500 customers, is priced at $99 per month, also with a 2.50% transaction fee. The Professional plan, catering to businesses with as many as 5,000 customers, is available for $149 monthly at a 2.40% transaction fee rate. Finally, the Enterprise plan, designed for businesses with up to 10,000 customers, costs $249 monthly with a transaction fee of 2.30%.
High-Risk, High Fees
In the CBD industry, which is considered high-risk, payment processors like Payswipe may impose higher rates, mandate six-month rolling reserves, and set strict chargeback limits. CBD and hemp businesses partnering with Payswipe might face more stringent pricing and contractual conditions compared to standard-risk businesses.
No Red Flags
Currently, there are no widespread complaints about Payswipe’s contract terms, indicating a general satisfaction among its users. However, CBD and hemp businesses should be aware that Payswipe’s pricing may not be as competitive as the most affordable merchant accounts. Readers with insights into Payswipe’s standard agreement are encouraged to share their experiences in the comments section.
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.
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.
Our Payswipe Review Summary
Our Final Thoughts
Payswipe currently rates as a solid credit card processing option for CBD merchants. The company’s clear willingness to serve hemp and CBD vendors indicates that it has strong banking partnerships for handling these transactions. However, our rating may change as more feedback is received about the company’s performance. Businesses should carefully review Payswipe’s terms and compare them to other providers specializing in CBD processing to ensure they’re getting the best possible rates and service for their specific needs.
Contact Payswipe
Contact & Customer Support
CEO
Gil Abir
Address
30 Hempstead Ave, Suite 154J Rockville Centre, NY 11570
Payswipe has been an absolute game-changer for my business! As a small business owner, managing payments used to be a hassle, but not anymore. Their user-friendly platform and seamless integration with our existing systems have made transactions a breeze.
From the start, Payswipe’s exceptional customer support team has been there to guide us every step of the way. They truly understand our needs and offer tailored solutions that fit perfectly. With their secure payment processing, I feel confident that my customers’ data is protected, which is paramount in today’s business landscape.
Thanks to Payswipe, we’ve experienced a noticeable increase in customer satisfaction and loyalty. The efficiency and reliability of their service have allowed us to focus more on growing our business and less on payment-related headaches. I can’t recommend Payswipe enough to fellow entrepreneurs looking to streamline their payment processes. It’s been a pleasure doing business with them!
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Giovanni Sheila
Payswipe has been an absolute game-changer for my business! As a small business owner, managing payments used to be a hassle, but not anymore. Their user-friendly platform and seamless integration with our existing systems have made transactions a breeze.
From the start, Payswipe’s exceptional customer support team has been there to guide us every step of the way. They truly understand our needs and offer tailored solutions that fit perfectly. With their secure payment processing, I feel confident that my customers’ data is protected, which is paramount in today’s business landscape.
Thanks to Payswipe, we’ve experienced a noticeable increase in customer satisfaction and loyalty. The efficiency and reliability of their service have allowed us to focus more on growing our business and less on payment-related headaches. I can’t recommend Payswipe enough to fellow entrepreneurs looking to streamline their payment processes. It’s been a pleasure doing business with them!