In this review of Platinum Payment Systems, 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 Platinum Payment Systems 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 Platinum Payment Systems meets your business’s payment processing needs.
About Platinum Payment Systems
Founded in 2002, Platinum Payment Systems is a merchant account provider headquartered in Spanish Fork, Utah. The company was previously a registered agent of PowerPay. PowerPay was acquired by EVO Merchant Services in December 2012, so it is likely that Platinum Payment Systems is now a subsidiary of EVO. Platinum Payment Systems should not be confused with Platinum Payments, another Utah-based credit card processor. The two are unrelated entities.
As of 2022, it appears Platinum Payment Systems is now going by the name Platpay.
Platinum Payments offers comprehensive payment processing services, enabling businesses to accept a variety of payment methods.
POS Systems
Platinum Payments provides advanced Point of Sale (POS) systems designed to streamline business operations. These systems help manage sales transactions, inventory, and customer interactions.
Mobile Payment Processing Solutions
Platinum Payments supports mobile payment processing solutions, allowing businesses to accept payments via smartphones and other mobile devices.
Terminals – EMV Cards, Dip, Swap, Apple and Google Pay
Platinum Payments offers terminals that support various payment methods, including EMV cards, dip, swap, Apple Pay, and Google Pay.
Platinum Payment Systems Customer Reviews
Here's What Their Clients Say
Customer Reviews Summary
Total Online Complaints
<10
Live Customer Support
Yes
Most Common Complaint
N/A
Recent Lawsuits
No
Low Complaint Total
As of our latest review, we couldn’t find any Platinum Payment Systems reviews accusing the company of being a ripoff or scam. Remarkably, there’s only one Platpay review across various consumer protection websites at this time. Although this sole complaint mentions fund holds, it seems to be an isolated incident. If you have your own Platpay review to contribute, please share it in the comments below.
Platpay’s minimal complaint record suggests that the company maintains a responsive customer service team. It’s worth noting that the company may outsource its customer service to EVO. While Platinum Payment Systems lists a dedicated email address for customer support on its website, its support channels may not meet the criteria for a top-rated merchant account for exceptional customer service. If you’ve interacted with Platinum Payment Systems’ customer service, please share your experience in the comments below.
Platinum Payment Systems Online Ratings
Here's How They Rate Online
Online Ratings Summary
BBB Reports
0
Apparently New Profile
Platinum Payment Systems has no rating with the Better Business Bureau and has yet to receive any complaints or reviews on its profile. Since the profile does not provide much insight into the company’s operations at this stage, we will exclude its BBB ranking from our review at this time.
Platinum Payment Systems Fees, Rates & Costs
A Closer Look at The Contract
Rates & Fees Summary
Cancellation Penalties
Yes
Monthly & Annual Fees
Yes
Processing Rates
1.00% - 4.99%
Equipment Leasing
Unclear
Platinum Payment Systems Contract Terms
Details about Platinum Payment Systems’ rates and contract are not widely disclosed. Formerly a sub-ISO of PowerPay, now part of EVO Merchant Services, Platinum’s contract terms may resemble EVO’s. EVO’s agreements typically adapt based on business factors, often including an early termination fee between $250 and $500, equipment leases, and an annual PCI Compliance fee around $120.
Virtual Terminal and Payment Gateway Pricing
Platinum Payment Systems offers virtual terminal and payment gateway services, though specific pricing is not public. Additional fees, including gateway fees, technical support fees, batch fees, and transaction rates, typically apply to these e-commerce services.
No Pricing Complaints
A company representative noted that while Platinum Payment Systems’ standard contract stipulates a multi-year agreement with an early termination fee, clients can exit their contracts without penalty with 30 days written notice. This flexibility is commendable, though it may not align Platinum Payment Systems with the most affordable merchant accounts. The lack of complaints regarding Platinum’s rates and fees suggests customer satisfaction. This context merits an “A” rating for Platinum Payment Systems in terms of client satisfaction with their pricing and contract terms.
For broader options, we recommend readers explore our list of the best merchant accounts.
Platinum Payment Systems Employee Reviews & Sales Tacitcs
Should You Work For Them?
Jobs & Marketing Summary
Uses Independent Resellers
No
Telemarketing
No
Misleading Marketing
No
Discloses All Important Terms
No
Sales Strategy
Platinum Payment Systems primarily markets itself through its website and strategic partnerships. The company does not appear to partner with independent resellers at this time. We are currently unable to locate any Platinum Payment Systems reviews that accuse the company’s sales team of unethical conduct.
As another point in its favor, the company does not appear to engage in any deceptive advertising in its official materials. We therefore award the company an “A” in this category for the time being. If you suspect that Platinum Payment Systems is charging you undisclosed fees, we recommend seeking a third-party statement audit to find and eliminate hidden charges.
Our Platinum Payment Systems Review Summary
Our Final Thoughts
Based on all currently available information, Platinum Payment Systems rates as a reliable credit card processing provider. The company maintains zero complaints across consumer protection websites, though specific details about its contract terms, hiring practices, and customer support are limited.
Business owners should carefully read through the terms of any agreement before signing and compare Platinum Payment Systems’ pricing with that of top-rated merchant accounts to ensure they secure the best possible deal. This diligence will help businesses obtain favorable terms while confirming that Platinum Payment Systems aligns with their specific processing needs.
GO ELSEWHERE IF YOu HABVE AN INTERNET BUSINESS. VERY DIFFICULT AND UNREASONABLE TO WORK WITH
I was referred to PlatPay by JJ Virgin (JJ is a best selling author with a large internet based business. JJ recommended PlaPay as a processor who understood the unique needs of internet marketers – for example we often have large fluctuations due to product launches or marketing campaigns. PlatPay gave me an initial estimate that showed I would save some money using their services. But I have paid for it in headaches…. They have no understanding about the needs of internet marketers. They froze my account in the middle of a launch over a small change in a product price and my account months later is still ‘frozen. They requested 3 months work of bank statements and I had just applied and opened the account with all that documentation.
DO YOURSELF A FAVOR AND SKIP THIS ONE IF YOU HAVE AN ONLINE BUSINESS YOU CARE ABOUT.
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Marjory WIldcraft
AVOID THIS COMPANY!!!!
GO ELSEWHERE IF YOu HABVE AN INTERNET BUSINESS. VERY DIFFICULT AND UNREASONABLE TO WORK WITH
I was referred to PlatPay by JJ Virgin (JJ is a best selling author with a large internet based business. JJ recommended PlaPay as a processor who understood the unique needs of internet marketers – for example we often have large fluctuations due to product launches or marketing campaigns. PlatPay gave me an initial estimate that showed I would save some money using their services. But I have paid for it in headaches…. They have no understanding about the needs of internet marketers. They froze my account in the middle of a launch over a small change in a product price and my account months later is still ‘frozen. They requested 3 months work of bank statements and I had just applied and opened the account with all that documentation.
DO YOURSELF A FAVOR AND SKIP THIS ONE IF YOU HAVE AN ONLINE BUSINESS YOU CARE ABOUT.
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