Protec Merchant Solutions Review

Name: Protec Merchant Solutions
Item: Protec Merchant Solutions
Rating: 4.25
Author: Phillip Parker

Phillip Parker

November 1, 2019

▼ 1 User Reviews

Overall Score

4.25

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Backed by Major Processors

Founded in 2012, Protec Merchant Solutions is a merchant account provider that provides a myriad of payment processing solutions. The company provides in-store and e-commerce services. According to the company’s website, it relies on Global Payments, First Data, and Chase Merchant Services for its backend processing. However, the company offers its own rate structure. In addition to merchant accounts, the company provides merchant cash advances, check guarantees, and gift/loyalty cards.

Location and Ownership

Protect Merchant Solutions is headquartered at 207 27th Ave Astoria, NY. The only point of contact disclosed by the company goes by the name James R. on the sole email address disclosed by the company. It is unclear what role he plays in the ownership of the business.

Protec Merchant Solutions Review Table of Contents

Costs & Contract: Protec Merchant Services offers contracts with an undisclosed term length and a tiered rate structure that may include an early termination fee.
Complaints & Service: Protec Merchant Services has received fewer than 10 public complaints.
BBB Rating: Protec Merchant Solutions does not currently have a profile with the Better Business Bureau.
Sales & Marketing: Protec Merchant Services does not hire independent sales agents and has not had complaints about its sales practices.
Rates & Fees: How Merchants Got The Best Rates With Protect Merchant Services.

Protec Merchant Solutions Customer Reviews

Customer Reviews Summary
Total Online Complaints	<10
Live Customer Support	Yes
Most Common Complaint	Fraud

Low Complaint Volume

We have only been able to locate 2 negative reviews for Protec Merchant Solutions. However, both complaints accuse the company of being a scam or committing fraud. 1 complaint was left by a merchant alleging that the company hacked its email account.

Protec Merchant Solutions Lawsuits

We have not found any outstanding class-action lawsuits or FTC complaints filed against Protec Merchant Solutions. Dissatisfied merchants who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations.

Protec Merchant Solutions Customer Support Options

Protec Merchant Solutions provides 24/7 telephone support and an automated form for responses to support requests. The company also provides an email address on its website but it does not appear that it is dedicated to customer support inquiries. Though 24/7 phone support is a reliable option, the rest of these resources is not as comprehensive as what some of the best merchant accounts for customer service typically provide.

Some Red Flags

There is some evidence to suggest that merchants are having negative experiences with the company. The basis of its few complaints is concerning. However, the company’s low complaint volume, 24/7 phone support, and clean legal history are enough behind the company getting a “B” rating in this category.

Protec Merchant Solutions Customer Satisfaction Ratings

No BBB Profile Available at This Time

The Better Business Bureau does not currently maintain a profile for Protec Merchant Solutions. We therefore will not factor a BBB rating into this review.

Protec Merchant Solutions Fees, Rates & Contract

Rates & Fees Summary
Swipe Rate	1.70% - 3.49% + $0.10
Keyed-in Rate	1.99% - 4.49% + $0.10
Virtual Terminal Rate	1.99% + $0.10
Payment Gateway Fee	Undisclosed
Statement Fee	$9.95 Per Month
Early Termination Fee	Undisclosed
PCI Compliance Fee	Undisclosed
Equipment Lease Term	Undisclosed

Transparent Transaction Rates

The Protec Merchant Solutions website provides a pricing table that clearly lists its transaction fees. Merchants are charged a swipe rate of up to 3.49% plus $0.10 and a keyed-in rate of up to 4.49% plus $0.10. These figures are based on the combination of their highest disclosed qualified rate of 1.99% and their highest listed non-qualified downgrade of 1.50% for swiped transactions. Those same parameters for keyed-in transactions are listed at 2.50% plus 1.99%, respectively. However, qualified swipe rates for the company start at 1.70% while qualified keyed-in rates begin at 1.99%. Downgrades for non-qualified swipe rates range between 1.00% to 1.50% and 1.50% plus 1.99% for keyed-in rates. This means that merchants who don’t meet the criteria for the company’s lowest qualified rate may end up paying less than the maximum rates charged by the company. Nevertheless, that ceiling is worth noting.

Though the company lists its rates quite specifically on its webpage, not many other additional contract terms are disclosed. Merchants are charged a monthly statement fee of $9.95, but it is unclear if they enforce a PCI compliance fee, early termination fee, or non-cancelable equipment lease. Since merchant reviews reflect that the company utilizes both First Data and Chase Merchant Services for its back-end processing, it is possible that those costs equal that of the providers it relies upon for processing.

Virtual Terminal and Payment Gateway Pricing

In addition to its storefront payment processing services, Protec Merchant Solutions also dedicates a portion of its website that advertises its virtual terminal and payment gateway services. The company utilizes Authorize.Net and Charge Anywhere as payment gateways. According to the company’s website, it charges merchants a rate of 1.99$ + $0.10 for e-commerce transactions. Additional fees, including gateway fees, technical support fees, batch fees, and additional transaction rates may apply to these e-commerce services.

A “B” Overall

Given the company’s low qualified rates, Protect Merchant Solutions’ pricing be a cost-efficient option. However, the lack of an available merchant agreement that discloses potential fees makes it different to assess its pricing in totality. With the absence of all available information but in consideration of the rates that are disclosed, we award the company a “B” in this category.

Protec Merchant Solutions Employee Reviews & Sales Practices

Jobs & Marketing Summary
Employs Independent Resellers	No
Advertises Deceptive Rates	No
Discloses All Important Terms	No

Protec Merchant Solutions Sales Tactics

Protec Merchant Solutions does not appear independently contracted sales agents to market its services. The lack of a an advertisement for an affiliate program is a clear indication of it does not employ this practice. There are no other complaints about the company’s sales practices either.

No Misleading Quotes

To its credit, Protec Merchant Solutions does not list deceptive rate quotes in its official materials. The company does advertise that it has the lowest rates in the industry for merchant services. While that is difficult to substantiate, its virtual terminal rate is lower than the standard rates offered directly from its payment gateway providers. The company also provides a full range of its qualified rates and non-qualified mark-ups. However, the company does not disclose all applicable fees that it charges its merchants.

Given its transparent rate structure and lack of issues with sales practices, we award Protec Merchant Solutions an “A” in this category.

Protec Merchant Solutions Review Summary

Reasonable Rates Backed by Major Processors

While merchant reviews convey that Protec Merchant Solutions relies upon First Data and Chase Merchant Services for its processing network, the company offers the possibility of lower rates. With full disclosure of its swipe and keyed-in rates, as well as a low virtual terminals rate, Protec Merchant Services is a viable option for brick-and-mortar and e-commerce merchants. The lack of disclosure of its additional fees and equipment lease terms is a cause for concern, making it more difficult to determine the full scope of the company’s pricing. However, merchants considering the 2 major processors that Protec Merchant Services relies upon may find the company a reasonable alternative for lower rates.

Reader Comments, Testimonials & Complaints

1 User Reviews

Jameson Marilyn

July 27, 2023

Protec Merchant Solutions has truly been a game-changer for my business! From the moment I signed up, their seamless onboarding process impressed me. Their top-notch payment processing solutions have not only boosted our revenue but also provided a sense of security with their reliable fraud protection features.

I can’t stress enough how their customer support team has exceeded my expectations. Always available and quick to resolve any issues, they make me feel like a valued partner, not just another customer.

With Protec, managing transactions has become a breeze. Their user-friendly interface and insightful analytics have given me a better understanding of my business’s performance, empowering me to make smarter decisions.

It’s rare to find a payment solutions provider that combines professionalism with a casual and approachable vibe. Protec Merchant Solutions has done just that, making me a loyal customer for life. Highly recommended!

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