Premier Payments Review

About Premier Payments

Owned by Newtek Merchant Solutions

Founded in 2010, Premier Payments is a merchant account provider based in New York. The company provides retail processing, mobile payment processing, e-commerce solutions, and serves high risk merchants. The company also advertises multiple POS solutions including Aloha, Aldelo, Runit, and Breadcrumb POS, as well as its proprietary POS system, SmartPad.

Location and Ownership

Premier Payments is headquartered at 40 Cuttermill Road, Great Neck, NY. Jeff Rubin is the CEO of the company. Rubin was the co-founder and president of Newtek Business Services and Newtek Merchant Solutions. Though Rubin no longer holds a position at either Newtek entity, his former company acquired Premier Payments in July of 2015 for $16.5 million. Newtek is a registered ISO/MSP of Westamerica Bank, Santa Rosa, California, and Merrick Bank, South Jordan, Utah.

Clean Complaint Record

We are unable to locate a couple of negative Premier Payments reviews. Given the fact that the payment processor claims to provide its services to high risk merchants, where a variety of issues can arise, this is a good indication of the quality of its service.

Premier Payments Lawsuits

We have not found any outstanding class-action lawsuits or FTC complaints filed against Premier Payments. However, Newtek was also the subject of a 2013 complaint filed by the FTC (Federal Trade Commission) which alleges that Newtek processed payments for a telemarketing credit card scam called TYS, or Treasure Your Success. According to the complaint, Newtek provided payment processing for TYS “without performing customary reviews (such as obtaining telemarketing scripts, as required by their own procedures) and despite clear warning signs of fraud.” Further details can be found here. The portion of the case related to Newtek’s former president, Derek Depuydt, was settled in November 2014. Details can be seen here. In May 2015,  a Florida district court ruled against Newtek in the case and ordered it to pay $1.7 million to the FTC. As a condition of the ruling, Newtek “agreed to a settlement permanently barring the company from processing payments for clients whom it knows or should have known: 1) fall into certain categories that have received close industry attention, such as debt relief services; 2) make misrepresentations to consumers; 3) charge consumers without their authorization; and 4) otherwise violate the FTC Act or the TSR.” It also requires Newtek to “put screening and monitoring provisions in place for use when accepting future clients.”

Dissatisfied merchants who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations.

Premier Payments Customer Support Options

Premier Payments customer service is run through Newtek Merchant Solutions. provides a phone number and email address on its website. Newtek offers phone and email support to its merchants. We do not consider it to be a top-performing credit card processor for customer service at this time.

Few Red Flags

Though there is no evidence to suggest that merchants are having negative experiences through the company, its owner’s legal history and lack of direct, comprehensive customer support channels is the basis for the company getting a “B” rating in this category.

No BBB Rating

Premier Payments currently has no rating with the Better Business Bureau. We therefore will not factor a BBB rating into this review.

Premier Payments Contract Terms

There is not much information available about Premier Payments contract terms. As an entity owned by Newtek Merchant Solutions, it is possible that Premier Payments contract terms emulate theirs. The standard Newtek Merchant Solutions contract is a two-year agreement through Redwood Merchant Services with automatic renewal for one-year terms and an early termination fee of $295. The merchant will also be subject to monthly and annual fees (which may include PCI compliance fees, monthly minimums, and variable transaction fees) as specified in a separate document that we are unable to obtain at this time. According to some merchant complaints, the company charges an annual “security fee” (possibly a PCI compliance fee) of $89.95, which merchants must opt-out of to avoid paying.

Virtual Terminal and Payment Gateway Pricing

In addition to its storefront payment processing services, Premier Payments also dedicates a portion of its website that advertises its virtual terminal and payment gateway. Premier Payments uses its sister company, Premier Charge, Authorize.Net, Payflow Pro, and Linkpoint for online transactions. Pricing will depend upon which payment gateway a merchant utilizes. Additional rates and fees, including gateway fees, technical support fees, batch fees, and additional transaction rates typically apply to these e-commerce services.

Difficult to Assess Unclear Pricing

Though Premier Payments does not transparently disclose its pricing, its relationship to other merchant account providers like Authorize.Net and its owner, Newtek Merchant Solutions, gives some insight into the rates and fees a merchant may incur. Nevertheless, without being able to see all of the company’s rates and fees, we award the company a “B” based on an amalgamation of the pricing of its gateway providers and ownership.

Employing Independent Resellers

Premier Payments hires independently contracted sales agents to sell its services. This is apparent from the ISO & agent program that the company advertises on its website. These programs are a common hiring practice within the credit card processing industry that often results in a sales team composed of poorly trained or unregulated agents. Fortunately, there are no public complaints regarding the company’s sales practices, which reflects well upon its independent agents.

No Misleading Quotes

To its credit, Premier Payments does not advertise deceptive rate quotes. Given that honest advertising as well as its lack of complaints regarding independent resellers, we award the company an “A” in this category. If you suspect that the company is charging you undisclosed fees, we recommend seeking a third-party statement audit to find and eliminate hidden charges.

Doesn’t Set Itself Apart from Newtek

Though there isn’t much publically available information on Premier Payments, it doesn’t seem that there is much that sets itself apart from its ownership. With customer service being run through Newtek Merchant Solutions, it appears that Premier Payments may rely upon the company for much more, including payment processing. Along with that, the company relies upon other merchant account providers for its gateway services. The sole benefit of relying on other companies for payment processing and payment gateways may be that Premier Payments can alter the terms and conditions of their typical contacts, resulting in lower rates and fees. However, the company does little to provide merchants with insight into its prospective pricing as to whether or not that will indeed be the end result.