Updated 1/22/2019: The PowerPay website currently states that the company is now EVO Payments International, so it appears that it has been fully absorbed into the EVO Payments International brand. We therefore will no longer update this profile. For up-to-date information about this company, see our EVO Payments International review.
Based in Portland, Maine, PowerPay (powerpay.biz) is a merchant account provider that primarily markets credit card processing services to e-commerce and telephone-order business types, but the company states that it can also supply merchant accounts and services for most other processing needs. PowerPay is the parent company of e-onlinedata and appears to be either a direct processor with HSBC Bank or a reseller of EVO/Global Payments. The company utilizes Authorize.net for its payment gateway and virtual terminal, so a PowerPay merchant may be dealing with multiple companies depending on the card acceptance methods needed. The company is also often referred to as “Power Pay,” with two separate words. Jim Raftice is listed as the president of PowerPay.Are you a decision maker with PowerPay? Claim this review.
Types of Businesses Served
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PowerPay Rates, Fees, and Costs
|Early Termination Fee||$250|
|PCI Compliance Fee||Unknown|
|Equipment Lease Terms||Variable|
Like most traditional merchant account providers, pricing with PowerPay may vary based on several factors such as a merchant’s business type, processing volume and the agent setting up the account. Generally, this means PowerPay’s rates and fees are highly negotiable. Learn how to get the lowest merchant account rates and fees in “Fee Sweep.”
An agent informed us that PowerPay offers month-to-month contracts with no cancellation fee, which is ideal for most businesses. This appears to be only partially true, however, as a copy of the company’s merchant agreement (available below) reveals a three-year credit card processing agreement with a $250 early termination fee. Merchants can avoid paying this fee by submitting a written notice of their intent to cancel at least 30 days in advance of switching providers. Failure to provide notice will result in being charged the early termination fee, and several merchants appear to have experienced this penalty as a result of not clearly understanding the policy.
The sample contract provided also lists an annual fee of $29, a monthly service fee of $10, a monthly minimum fee of $25, and an Authorize.net setup fee of $99. It is unclear at the time of this review whether PowerPay imposes a PCI Compliance fee, so merchants are encouraged to inquire about it before proceeding with account setup. See the PowerPay Merchant Agreement.Are you happy with your PowerPay fees? Tell us about them before your go!
PowerPay Complaints & Customer Reviews
|Total Online Complaints||30+|
|Live Customer Support||Yes|
|Most Common Complaint||Fund Holds|
For a company of its size and time in business, PowerPay has a low-to-moderate volume of complaints filed online. The common theme among the complaints that do exist are reports of sudden account terminations initiated by PowerPay, sudden holds placed on funds, unexpected fees, difficulty with resolving problems, and trouble reaching the company’s customer service. The issues with fund withholding appear to be split between legitimate complaints about poor communication and account setup by PowerPay and complaints by merchants whose accounts were cancelled due to very high chargeback rates. Overall, PowerPay’s phone support appears to provide an industry-average level of customer assistance.
PowerPay BBB Rating Summary
Key Points - BBB
|Product & Service Complaints||30|
|Billing & Collection Complaints||32|
|Advertising & Sales Complaints||2|
|Guarantee & Warranty 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.
As of this update, the Better Business Bureau is showing that PowerPay has been BBB accredited since 2004 and is awarding the company an “A+” rating. PowerPay has received 65 complaints within the last 36 months. Of the total, 32 are regarding billing disputes, 30 are related to product and service problems, two have to do with advertising or sales issues, and one is a delivery problem. PowerPay has resolved 14 of the complaints successfully, while the remaining 51 were either resolved to the dissatisfaction of the complainant or did not receive a final assessment from the complainant. PowerPay also has 19 negative reviews filed against its BBB profile compared to just one positive review, although it should be noted that these reviews are not subject to BBB verification. In light of the company’s complaint total and resolution ratio, we have adjusted the BBB’s rating to a “B-.”
Truth In Marketing & Advertising
|Employs Independent Resellers||Yes|
|Advertises Deceptive Rates||No|
|Discloses All Important Terms||No|
This reviewer found no uses of deceptive advertising or rate quoting by PowerPay. The company relies heavily on recruiting outside independent sales agents, a practice which normally lowers a company’s score due to an elevated complaint rate. PowerPay is no exception, as there are multiple PowerPay negative reviews that allege nondisclosure of contract terms and hidden fees, particularly with regard to early termination fees and cash reserves. Although the total number of complaints regarding the company’s sales practices is low for PowerPay’s size, the fact that complainants consistently report surprise fees is enough to lower the company’s grade to a “B” in this category.
About Phillip Parker
Thank you for reading my review. I hope that it has helped you with your research.
Why I'm Qualified to Write About Credit Card Processing and Merchant Account Services
I'm a former credit card processing sales director who left the industry because I didn't like how it takes advantage of small business owners. It feeds like a leech on businesses and thrives by imposing fees that are nearly impossible to comprehend. Seeing a need for change, I left and built this website help business owners better understand the industry, research merchant services providers, and get refunds of excessive merchant account fees. My experience of working "behind the curtain" in the industry, and using that knowledge for good, has resulted in millions of dollars returned to hard-working small business owners as well as enterprise-level companies.
From the time that I starting working in the merchant services industry to when I left to create this website, I've been on the pulse of payments for nearly 15 years. It didn't seem fair to keep this "insider" knowledge to myself. To lift the fog, I've reviewed hundreds of companies, read thousands of user reviews, and learned the pricing tricks of every provider. If you have questions about credit card processing, you can find the answers on this website.