Payzium Review | Expert & User Reviews

Name: Payzium
Item: Payzium
Rating: 4.5
Author: Phillip Parker

By Phillip Parker

Last Updated: February 24, 2022

2 User Comments

Payzium Rating

4.5/5

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Note: As of November 2021, the Payzium website appears to be down. We cannot find any indication at this time that the company is still in business, so we will no longer be updating this profile. If you have any information about the status of Payzium, please let us know in the comments below.

A Merchant Processor

Payzium is a merchant account provider that specializes in debit and credit card processing for brick-and-mortar and e-commerce businesses. It was founded in early 2014.

Payzium Payment Processing

Pazyium processes payment for most major debit and credit cards. Its services include equipment leasing, gift card acceptance, loyalty programs, a virtual terminal, a payment gateway, an online shopping cart, and sales reporting for restaurants, nonprofits, retailers, the hospitality industry, healthcare, trade professionals, and other business types.

Payzium Location & Ownership

Payzium lists its address as 848 N. Rainbow Blvd. #1900, Las Vegas, Nevada 89107, but there are numerous references in its ad copy to Canadian merchants and Canadian credit card processing. It is therefore likely that the company either has recently relocated or maintains a separate base of operations in Canada. Payzium does not list an acquiring bank on its website. LinkedIn lists Maurice Verrelli as the president and CEO of Payzium.

Payzium Review Table of Contents

Costs & Contract: Payzium appears to offer variable contract terms according to each business’s type, location, and history.
Complaints & Service: Payzium has received no public complaints.
BBB Rating: Payzium has no rating with the Better Business Bureau and has received 0 complaints in the past 3 years.
Sales & Marketing: Payzium hires independent sales representatives and has not received any complaints about its sales practices.

Payzium 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

No Complaints Found

We are unable to locate any negative Payzium reviews on any of the usual consumer protection websites, indicating that the company is not a ripoff or a scam. Payzium is still a very new company, so it may take some time before merchant feedback (positive or negative) begins to show up in public forums. To its credit, the company lists a dedicated customer support number on its website, and this number may be partially responsible for its low complaint total. Given the company’s spotless complaint record, we award it an “A” at this time.

Payzium Lawsuits and Fines

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

Payzium Online Ratings

Here's How They Rate Online

Online Ratings Summary
Item	Result
Product & Service Complaints	0
Billing & Collection Complaints	0
Advertising & Sales Complaints	0
Guarantee & Warranty Complaints	0
Delivery Complaints	0

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.

Payzium is not accredited with the Better Business Bureau and is currently showing no rating due to the fact that the BBB does not have sufficient information about the company. We will award it a default rating of “A” at this time. Despite this rating, merchants should not utilize the company’s BBB page as a resource until it has had sufficient time to accumulate customer feedback. For more information on why we adjust BBB ratings, please see our rating criteria.

Payzium Fees, Rates & Costs

A Closer Look at The Contract

Cost & Fees Summary
Item	Result
Swiped Rate	Variable
Keyed-in Rate	Variable
Early Termination Fee	Unknown
PCI Compliance Fee	Unknown
Equipment Lease Terms	Variable

Little Information on Payzium Contract

There is very little specific information about the standard Payzium contract at this time. The company does not list its rates and fees online, and there are no merchant complaints that mention any contract details. Given that the company promotes a rate of “1.19%” on its website, it’s likely that it generally promotes tiered pricing, but it may offer interchange-plus to certain merchants. The complete lack of public complaints about the company’s pricing seems to indicate that the majority of Payzium’s merchants are satisfied with the rates and fees they are paying, so we will award the company an “A” for the time being. If you have any specific knowledge of the company’s contract terms (including any early termination fees or PCI compliance fees), please leave that information in the comment section below this review. We would also encourage merchants to check out our list of the providers of the best merchant accounts.

Payzium Employee Reviews & Sales Tacitcs

Should You Work For Them?

Jobs & Marketing Summary
Item	Result
Employs Independent Resellers	Unknown
Advertises Deceptive Rates	Yes
Discloses All Important Terms	No

Inside and Outside Sales Teams

Payzium appears to primarily market its services through both inside and outside sales representatives. It is unclear at this time whether the company’s outside reps are independently contracted 1099 employees or simply remote resellers. This is an important distinction because independent agents typically receive a high number of complaints due to the fact that they receive very little oversight or training. We are currently unable to locate any Payzium complaints that describe deception or nondisclosure by the company’s sales team, indicating that the company’s reps are selling in a transparent and forthright manner. This compares favorably to our list of best credit card processors.

Somewhat Misleading Rate Quotes

The Payzium website includes rate quotes that advertise pricing “starting at 1.19%.” This is likely the company’s rate for “Qualified” transactions, and although it may technically be accurate, it makes no mention of the company’s higher “Mid-Qualified” and “Non-Qualified” rates. It is our belief that this form of rate quote is slightly misleading since it could give merchants an unrealistic expectation of the rates they will pay. We have therefore slightly lowered the company’s rating in this section to a “B.”

Our Payzium Review Summary

Our Final Thoughts

A Decent Option

Payzium rates as a decent merchant services provider at this time, but merchants should keep in mind that it is still a very new company. Our rating for Payzium will change as more information becomes available. For the time being, merchants are encouraged to ensure that they understand all contract terms before signing.

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About The Author

Phillip Parker

Phillip Parker is an independent card payment expert specializing U.S. and Canadian point-of-sale, e-commerce, and mobile payment acceptance. He has nearly two decades of experience in credit card processing as a journalist and consultant. Phillip is the creator of this website and has written over 1,500 articles covering numerous payment acceptance topics. He has also published critical reviews about most merchant services providers currently in operation.

Expert Guidance

Phillip has consulted businesses of all sizes from mom-and-pop shops processing $10K per month to enterprise level organizations processing in excess of $300MM annually. His specialties include:

– Merchant Account Statement Auditing
– Rate & Fee Negotiation
– Processor & POS Selection
– Software Integrations
– Risk Assessment
– Fraud Prevention
– General Processing Advice

Schedule a Consultation Here

Phillip’s Top Picks

Phillip has researched and reviewed over 1,000 merchant services providers over the last 15 years. He also owns multiple businesses that accept credit card payments. If you are looking for an ethical credit card processor that doesn’t hide fees or lock you into expensive contracts, see Phillip’s merchant account picks here.

In The Media

In addition his contributions on CPO, Phillip has also been quoted in several major publications such as The Los Angeles Times, INC Magazine, Miami Herald, Computer World, and numerous others. If you would like to interview Phillip for your story or podcast, please reach out here.

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Your Comments & Reviews

How Did Payzium Treat You?

2 Responses

MSIT

September 12, 2015

PAYZIUM PIVOTAL is THE SAME AS EMI SOLUTIONS-I have proof

Reply
- CPO
  
  September 14, 2015
  
  Hello MSIT,
  
  Feel free to share any proof you have in this comment section.
  
  Reply

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