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ProMerchant Review: Fees, Complaints, Comparisons & Lawsuits
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Founded in August 2018
ProMerchant is a Boston-based merchant account provider that offers credit card processing for most standard-risk business types. The company is owned and operated by former managers of Flagship Merchant Services, but a company representative has stated that ProMerchant does not have any current relationships or plans to start a relationship with Flagship, iPayment, or Paysafe. One ProMerchant executive also founded a payment processor called Ascension Payments, but that brand appears to have been shuttered in favor of ProMerchant.
In August 2021, food ordering company Waitr acquired ProMerchant along with Flow Payments and Cape Cod Merchant Services.
ProMerchant Payment Processing
ProMerchant processes all major debit and credit cards for standard and high-risk businesses. Their services include POS solutions, EMV card readers and swipers, mobile solutions, virtual terminals, access to the Authorize.Net payment gateway, other e-commerce solutions including shopping carts, and MOTO payments.
ProMerchant Location & Ownership
ProMerchant is a registered ISO/MSP in association with Fifth Third Bank, Cincinnati, Ohio, and some merchant accounts may be referred to a registered ISO/MSP of HSBC Bank USA, National Association, Buffalo, NY, and Wells Fargo Bank N.A., Walnut Creek, CA. The company is headquartered at 501 Boylston St, Floor 10, Boston, Massachusetts 02116. Kevin Murphy is the co-owner and managing director at ProMerchant, while Geno DeAngelis is the director of support.
ProMerchant Review Table of Contents
- Costs & Contract: ProMerchant offers a month-to-month contract with interchange-plus pricing. The company uses the Authorize.Net payment gateway to facilitate e-commerce transactions.
- Complaints & Service: ProMerchant complaints number fewer than 10 on public complaints forums.
- BBB Rating: ProMerchant currently has an “A+” rating and has received 0 complaints and 0 reviews in the last 3 years. The company has been accredited by the Better Business Bureau since 2018.
- Sales & Marketing: ProMerchant does not appear to hire independent sales agents and has not received any complaints about its sales practices.
ProMerchant Customer Reviews
Here's What Their Clients Say
|Total Online Complaints||<10|
|Live Customer Support||Yes|
|Most Common Complaint||N/A|
Clean Complaint Record
We are unable to locate very many negative ProMerchant reviews, and there is no evidence that the company is a scam or a ripoff at this time. We are also unable to locate any negative reviews of Ascension Payments. Given the lack of public complaints, we do not see any reason to lower ProMerchant’s rating in this section. One ProMerchant review on this website claims that the company never sent hardware, however. If you have your own ProMerchant review, please leave it in the comment section below.
We have not found any outstanding class-action lawsuits or FTC complaints filed against ProMerchant. Dissatisfied merchants who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations.
ProMerchant Customer Service Options
The ProMerchant customer support page lists a dedicated customer support phone number and a contact form for merchants.
We have located a single ProMerchant customer service number:
(888) 712-3316 – Toll-Free General Customer Service
This is consistent with our expectations of top-rated merchant accounts for customer service, but it will not have a positive impact on ProMerchant’s rating until there are more public reports of merchant experiences.
ProMerchant Online Ratings
Here's How They Rate Online
No BBB Complaints
ProMerchant currently has an “A+” rating with the Better Business Bureau and was formerly BBB-accredited since November 2018 but is no longer accredited. The company has received 0 complaints in the last 3 years.
What Merchants Say
There are no informal reviews on the ProMerchant profile from the last 3 years. Previously, 6 informal reviews on ProMerchant BBB conveyed why no complaints have been filed against the company. All 6 of the reviews were positive in tone, giving a rating of 5 out of 5 in each case. The most recent review touched upon ProMerchant’s pricing and customer service:
I am very satisfied with the pricing and customer service at ProMerchant and will recommend them to others!
Excellent customer service is a benchmark of a top merchant account provider. Merchants should review their options for high-quality customer service.
An “A” Performance
Due to the company’s clean record, we agree with the BBB’s rating at this time. However, there are good reasons for merchants to regard all BBB ratings with some skepticism.
ProMerchant Fees, Rates & Costs
A Closer Look at The Contract
|Swiped Rate||Interchange + 0.5% + $0.15|
|Keyed-In Rate||Interchange + 0.5% + $0.15|
|Virtual Terminal Rate||2.90% + $0.30|
|Payment Gateway Fee||$25 Per Month|
|Early Termination Fee||None|
|PCI Compliance Fee||Undisclosed|
ProMerchant publicly advertises a month-to-month contract with either interchange-plus pricing or membership-style pricing. Under its standard interchange-plus plan, the company appears to charge interchange plus 0.50% plus $0.15 per transaction. Under its membership-style plan, it charges an undisclosed monthly fee but does not add a markup above interchange on each transaction. ProMerchant does not publicly address whether it charges a monthly minimum fee or PCI compliance fee but does not charge early termination fee. Instead, the company offers its customers month-to-month plans.
ProMerchant also does not disclose whether it sells or leases payment processing equipment, but a company representative has stated that ProMerchant does not lease any processing equipment or sell it for a profit.
Virtual Terminal and Payment Gateway Pricing
In addition to its storefront payment processing services, ProMerchant also dedicates a portion of its website to advertising its virtual terminal and payment gateway services, provided by Authorize.Net. A typical merchant agreement through Authorize.Net includes a transaction rate of 2.90% plus $0.30, a gateway fee of $25 per month, and a batch fee of $0.10. However, as a reseller of its services, ProMerchant reserves the right to alter these terms and conditions.
No Merchant Complaints
Despite the fact that ProMerchant’s interchange-plus quote is higher than many of its competitors, there are no ProMerchant complaints over pricing to be found in public forums. This indicates that most ProMerchant users are satisfied with the rates and fees that they receive. However, merchants are still encouraged to compare ProMerchant’s pricing to the cheapest merchant accounts to see if they can get a better deal. We also encourage merchants to check out our list of the providers of the best merchant accounts. If you have any knowledge of the standard ProMerchant contract, please share it in the comment section below this review.
ProMerchant Employee Reviews & Sales Tacitcs
Should You Work For Them?
|Employs Independent Resellers||No|
|Advertises Deceptive Rates||No|
|Discloses All Important Terms||No|
No Evidence of Independent Agents
ProMerchant appears to market its services with a combination of an in-house sales team and online affiliate marketing. A company representative has confirmed that all of its agents operate out of a single office with direct supervision from managers. Moreover, we cannot find any ProMerchant reviews that would be indicative of a large independent sales operation. This compares favorably to our list of best credit card processors. If you suspect that you are being charged hidden ProMerchant fees, we recommend obtaining a third-party statement audit to find and eliminate excessive charges.
Previous ProMerchant Rate Quotes
At the time of our previous update, ProMerchant maintained a partnership with CreditCardProcessing.net, an affiliate marketing website that offers favorable placement based on ad purchases by processors. This strategy is also used by Flagship Merchant Services. ProMerchant’s profile on CreditCardProcessing.net advertised a rate of interchange plus 0.50% plus $0.15 per transaction. Interchange-plus is the most transparent pricing model available, and there was no evidence that ProMerchant listed this quote deceptively. A company representative has since stated that ProMerchant no longer advertises on CreditCardProcessing.net.
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