Platinum Payment Systems: Reviews & Complaints
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.
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.
Table of Contents
Platinum Payment Systems Customer Reviews
Here's What Their Clients Say
|Total Online Complaints||<10|
|Live Customer Support||Yes|
|Most Common Complaint||N/A|
Low Complaint Total
We are currently unable to locate any Platinum Payment Systems reviews that accuse the company of being a ripoff or a scam. In fact, there is only one Platpay review across all consumer protection websites at this time. The sole complaint mentions fund-holds, but appears to have been an isolated incident. If you have your own Platpay review to make, please do so in the comments below.
Platinum Payment Services Lawsuits and Fines
We have not found any outstanding class-action lawsuits or FTC complaints filed against Platinum Payment Services. Dissatisfied clients who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations.
Platinum Payment Systems Customer Support Options
Platpay’s generally clean complaint record suggests that the company employs a responsive and available customer service team. It may also indicate that the company outsources its customer service to EVO. The company’s website does list a dedicated email address for customer support but its support channels are not sufficient to qualify it as a top-rated merchant account for great customer service. If you have any experience with Platinum Payment Systems’ customer service, please describe that communication in the comment section of this review.
Platinum Payment Systems Customer Service Number
- (888) 752-8644 – Toll-Free Support
Other Support Options
- Support form
- Customer service email at [email protected]
Platinum Payment Systems Online Ratings
Here's How They Rate Online
Online Ratings Summary
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
|Monthly & Annual Fees||Yes|
|Processing Rates||1.00% - 4.99%|
Platinum Payment Systems Contract Terms
There is almost no publicly available information about the standard Platinum Payment Systems rates or contract at this time. The company appears to have been a sub-ISO of PowerPay, which now fully integrated into the EVO Merchant Services brand. It is therefore likely that the company’s standard contract closely resembles that of EVO. The typical EVO agreement can vary based on a business’ size, business type, and time in business, but it appears to always include an early termination fee ranging from $250 to $500, an attached equipment lease, and a PCI Compliance fee of approximately $120.
Virtual Terminal and Payment Gateway Pricing
In addition to its storefront payment processing services, Platinum Payment Systems also dedicates a portion of its website that advertises its virtual terminal and payment gateway services. However, pricing is not disclosed on either of those services. Additional rates and fees, including gateway fees, technical support fees, batch fees, and additional transaction rates typically apply to these e-commerce services.
No Pricing Complaints
A company representative has informed us that although the standard Platinum Payment Systems contract includes a multi-year agreement with an early termination fee, the agreement also states that clients can exit their contracts at any time without penalty as long as they provide 30 days written notice. This is a positive factor, but does not place Platinum Payment Systems in competition with the cheapest merchant accounts. The total absence of complaints about Platinum’s rates and fees indicates that most of the company’s clients are satisfied with their service. We are therefore inclined to award the company an “A” in this category.
We also encourage readers to check out our list of the providers of the best merchant accounts.
Platinum Payment Systems Employee Reviews & Sales Tacitcs
Should You Work For Them?
|Uses Independent Resellers||No|
|Discloses All Important Terms||No|
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.
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