Platinum Payment Systems Reviews & Complaints

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5
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How did they treat you? ▼

Overview

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.

Platpay Payment Processing

Platpay processes all major debit and credit cards for most business types. Their services are not listed on their site except to say that they process cards.

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.

Platinum Payment Services Lawsuits and Fines

We have not come across any ongoing class-action lawsuits or FTC complaints filed against Platinum Payment Services. Clients dissatisfied with their experience can explore reporting options to relevant supervisory organizations for resolution.

Platinum Payment Systems Customer Support Options

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 Customer Service Number

  • (888) 752-8644 – Toll-Free Support

Other Support Options

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

Cost & 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.

This compares favorably to our list of best credit card processors.

No Deceptive Advertising

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.

Location & Ownership

Platpay is a registered ISO/MSP of Deutsche Bank Trust Company Americas, New York, New York. Jed Morley is listed as the founder and CEO of Platinum Payment Systems, which is located at 41 East 300 North, Spanish Fork, Utah 84660, however their Better Business Bureau profile only lists a PO box at 150124 Ogden, UT 84415.

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Which is Most Important for You?

If you had to pick one, which quality would you say will be the most important with your next credit card processor? Tap or click your selection to register your vote:

  1. Low Transaction Fees
  2. No Monthly Fees
  3. No Contract
  4. Reliable Customer Support
  5. Quick Signup

Testimonials & Complaints

How Did Platinum Payment Systems Treat You?

1 User Reviews

  • 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.

    From The Editor
    This Post Might Help: How to Make Your Payment Processor Release Your Money

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