Punchey Overview

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Point-of-Sale Solutions for Standard-Risk Businesses

Punchey is a merchant account provider that was founded in 2010. Punchey offers mobile, online, and countertop payment solutions for both Android and iOS devices. Please note that although Punchey refers to both the company and the POS application it promotes, this review will be discussing the company’s services as a whole. The company’s lists partnerships Vantiv and SecureNet.

Punchey Location and Ownership

Punchey is headquartered at 59 Franklin Street, New York, New York, and does not list an acquiring bank on its website. Lucy Stevens is the president of Punchey.

Punchey Review Table of Contents

  • Costs & Contract: Punchey appears to offer variable contract terms with no early termination fees.
  • Complaints & Service: Punchey has received more than 10 public complaints.
  • BBB Rating: Punchey currently has an “A+” rating with the Better Business Bureau and has received 5 complaints and 1 review in the past 3 years.
  • Sales & Marketing: Punchey does not appear to hire independent sales representatives and has not received any complaints about its sales practices.
  • Rates & Fees: How Merchants Got The Best Rates With Punchey
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Products & Services Offered

  • Debit and credit card processing
  • Mobile payment solutions
  • Traditional and tablet-based POS systems
  • QuickBooks integration
  • Virtual terminal
  • SEO optimization

Types of Businesses Served

  • Retail
  • Mobile
  • E-commerce
  • Contractors
  • Healthcare
  • Restaurant

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Punchey Rates, Fees, and Costs

Key Points

Flat Plan Swipe Rate 2.75%
Flat Plan Keyed-In Rate 3.15% + $0.15
Flex Plan Credit Rate Interchange + 0.75% + $0.15
Flex Plan ACH Rate 0.50% + $0.25
Early Termination Fee Undisclosed
PCI Compliance Fee Undisclosed
Equipment Lease Terms Undisclosed

Two Pricing Plans

Punchey appears to offer 2 basic pricing plans: “Flat” and “Flex.” The company’s Flat plan charges 2.75% per swiped transaction, 3.15% plus $0.15 per keyed-in transaction, and 0.50% plus $0.25 per ACH transaction. Its Flex plan charges interchange plus 0.75% plus $0.15 for all card transactions and 0.50% plus $0.25 per ACH transaction. Punchey advertises “no long-term contracts” on its website, but it’s unclear whether it charges an early termination fee, a PCI compliance fee, monthly fee, or other fees. Punchey may also offer custom pricing under certain circumstances.

Fraud Prevention Policy

The only two negative reviews of Punchey’s contract terms that we have found both describe fund withholding issues. In both cases, it seems that the merchants had been assured that their average ticket, high ticket, and monthly processing limits were appropriately calibrated at the time of signup, only to find out after processing payments that their funds had been flagged. Although this issue seems to have occurred more than once, it does not appear to be a widespread problem with Punchey’s service. We will therefore award the company an “A” for the time being.

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Response from Punchey

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Punchey Complaints & Customer Reviews

Key Points

Total Online Complaints 10+
Live Customer Support Yes
Most Common Complaint N/A

Low Complaint Total

As of this update, we are able to locate more than 10 Punchey complaints on other consumer protection websites, none of which accuse the company of being a scam or a ripoff. Two complaints report difficulty resolving withheld funds, while one complaint is from an employee of the company who is frustrated with the company’s leadership. The holding of funds is a standard industry practice designed to protect processors from fraud, and despite the frustrations of merchants, this policy will not negatively impact the company’s score in this section. However, both of these complainants do express difficulty contacting Punchey’s customer service reps and reaching a timely resolution.

Punchey Lawsuits

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

Punchey Customer Support Options

Punchey appears to utilize an in-house customer support staff but only offers 24/7 email support. This level of customer support falls short of our expectations of top-rated payment processors for great customer service. However, we have still given Punchey an “A” in this section due to its low complaint rate.

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Response from Punchey

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Punchey BBB Rating Summary

Key Points - BBB

Product & Service Complaints 2
Billing & Collection Complaints 3
Advertising & Sales Complaints 0
Guarantee & Warranty Complaints 0
Delivery 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.

An F Rating Despite a Low Complaint Total

Punchey currently holds an “F” rating with the and is no longer accredited by the BBB. At the time of our last review, the company has an “A+” rating and was an accredited business. The company has had 5 complaints filed against it in the previous 36 months as well as 5 which have been closed in the last 12 months. 2 of those complaints related to problems with a product or a service while the other 2 were in regards to billing or collections issues. 3 of those complaints were resolved by Punchey while the remaining 2 complaints have not been answered.

What Merchants Say

Punchey has also received 1 negative informal review to its BBB profile. This review describes difficulties resolving point-of-sale issues:

I signed up for the BEST $299 per month plan, with a 30-day Money Back Guarantee Trial. The original system I was signing up for, with the Salesman “Alex,” included keeping up with my customer database (names, number’s, email, etc.), functionality of scheduling clients for my service, using the “Punchey detailpropos system”, & sending messages via e-mail & text through Punchey system. Alex also informed me, that I would also be able to keep up with employees & staff members, for each customer’s appointment. After 25 days of not yet being able to set-up an appointment on the calendar, not being able to send text messages, & not having a working website (website brought the total to $349 per month) I finally asked for refund!! From the second day of having access to logging into the system, I spoke with a guy named Mike in technical support (Michael in chat sessions), who was suppose to ensure the system got setup correctly for my needs at $349 per month. After 10-15 hours of talking to him & only getting unkept promises broken, & un-returned phone calls, I threw in the towel! I then was passed off to Sheri, who told me it would take a few days to process the refund but not guaranteed. I asked, “it is within the 30 days period, I have not ran 1 SINGLE transaction through my Punchey/account system, how can I not be granted a refund?” Sheri says, “well we have a lot of work & hours into “your account” & just will not be able to give you a refund.” I said, “I know, I don’t want to pay $349 for talking to Mike for over 10 hours, just for empty promises & a system I never could process or schedule a transaction with!” Punchey is the same owner of detailpropos, salonpropos, tanningpropos, & many others with this same name. Do not let them steal your 10 hours & $349 from you, like THEY DID ME!!

Merchants who wish to avoid issues like this may have better luck with a top-rated POS provider.

A “C” Performance

Given Punchey’s relatively low complaint total but its record of unanswered complaints, we have adjusted the BBB’s rating to a “C” overall.

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Response from Punchey

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Truth In Marketing & Advertising

Key Points

Employs Independent Resellers No
Advertises Deceptive Rates No
Discloses All Important Terms No

Inside Sales Team

According to a job posting on the company’s website, Punchey appears to employ an in-house sales and telemarketing staff rather than utilize independent sales agents to market its services. We believe that this hiring practice allows companies to better regulate the conduct of their sales agents, which usually results in a lower complaint rate among merchants. Predictably, we are unable to locate any Punchey reviews that describe its sales team in a negative light.

No Deceptive Quotes

Punchey has also removed several incomplete rate quotes from its official marketing materials, which has improved its rating in this category. The company offers both tiered pricing and interchange-plus pricing to merchants depending on each merchant’s business needs. If you suspect that Punchey is overcharging you, you can double-check your monthly bill with a third-party statement audit.

Did you get what you expected from Punchey? Tell us why, or why not.

Response from Punchey

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Punchey Logo

Our Opinion of Punchey

A Solid Point-of-Sale Option for Most Industries

Punchey rates as a reliable merchant services provider according to our rating system. The company appears to offer transparent pricing and competitive contract terms. The lone factor lowering Punchey’s overall rating is the fact that some complainants have expressed frustration with the company’s customer service. Even when dealing with a highly rated credit card processor, merchants are advised to compare their contract terms to those offered by top-rated overall payment processors.

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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.

How I Can Help You

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1 Review Leave Your Review for Punchey Below

  1. Kristin Palace says:

    Punchey began charging me a $13.95 monthly fee in January 2019 with no prior notice. I had been a customer for more than 5 years. Up until then, the service had no monthly or yearly fees. On March 5, when I discovered the charge, I attempted to contact the company. Searching the website revealed nothing. The chat function did not work. I called and got voicemail (left a message). I emailed. On March 6 I got an email from Sherrie L informing me that the $13.95 was a monthly fee and attaching a termination form if I wished to cancel my account. I emailed again asking when the company had notified me of the charges. No reply. A few days later I called the company. Left another message. I emailed again. No response. I then sent them my termination notice. No response I have subsequently discovered that they debited my account $13.95 on January 30, March 1 (which I would have expected), and March 5, the day I called! Clearly they anticipated that they might not be able to extract more money from me after my inquiry. I have had to pay my bank to ensure no further withdrawals from Punchey. Buyer beware.

    This post will help: Cancelling a Merchant Account Without Paying a Fee


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