RAYL Innovations Merchant Services 2023: Reviews & Complaints

RAYL Innovations Rating
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image of a phone image of a phone that changes when your mouse hovers over it (604) 837-7990 View Pricing

Note: As of late 2023, the RAYL site was down. It’s currently unclear if this is related to any issue with the company’s status. If you know if RAYL is still in business, please let us know below.

Company Overview

RAYL Innovations is a Canadian SaaS company based in Vancouver, British Columbia.

Article Summary

Before we dive in, here’s a short summary of what we’ll cover:

  • RAYL Innovations’ various payment processing services.
  • The company has not received many complaints.

RAYL Innovations Payment Processing

RAYL offers several business software solutions, including digital banking and business management. Jeremey Wright of RAYL has stated in an email that the company no longer provides payment processing through its RAYL.PAY service despite continuing to market its intention to do so on the RAYL website. RAYL promotes that it will offer an interchange-plus model for its pricing and POS solutions including same-day funding. Mr. Wright provided no other details regarding how RAYL plans to help clients facilitate payments through its platform or when the company will offer merchant services. As of 2022, Rayl also offers the RAYL.Apptive app, which features a number of business integrations including sales, purchases, invoicing, inventory, HR, CRM, and more. If you have any further information or experience regarding RAYL’s payment acceptance process or integrations, please leave it in the comment section below.

Ronning, Zoost, and Strauss Connection

There appear to be connections to the now-shuttered payment processor PayVida and its controversial leadership team, including Robert Ronning (previously Robert Zoost) and Ryan Strauss, the two founders and frontmen of that company. PayVida’s former CFO now serving as the current CEO of RAYL. PayVida’s leadership was the subject of several lawsuits and some overall shady business practices that can be read about in our PayVida Review. While the exact nature of this relationship isn’t entirely clear, RAYL appears to be trying to shed some of the bad PR associated with PayVida.

CPO received information from an unverified source outlining the connections between the two companies. While we initially could not confirm all the details of the email, we can confirm some of the connections listed in this review and the sender appears to be well-informed about the leadership structure of the two companies:

“Jeremy Wright, former Director and CFO of PayVida now Director / CFO of RAYL

Jaime Zimmerman, former Chief Tech of PayVida and now Chief Tech of RAYL

Ali Sinawi Director/ former Investor Relations of PayVida now Investor Relations of RAYL”

The email also details active emails ryan@rayl and rob@rayl, accusing the two of being associated with RAYL even if not publicly acknowledged. A quick glance at Robert Ronning’s LinkedIn showed a “Lead Visionary” position at “Exciting New Payment company” since 2020. The profile also contains multiple activity posts concerning RAYL. While we have never taken into account PayVida’s puzzling leadership’s legal troubles in our reviews, the initial uncertainty of their involvement in the new company certainly did not inspire confidence.

In early 2022 Jeremy Wright reached out in an email and clarified the exact nature of RAYL’s relationship with Ronning and Strauss: “RAYL engaged Ronning and Strauss as consultants to advise on strategy and operational matters respectively. RAYL ended its working relationship with Ronning July 29, 2021, as RAYL no longer required Ronning’s support. As at the date of this submission, Strauss continues to provide support to RAYL on a consulting basis.”

The reported connections between the two companies appear to be somewhat true, although Ronning and Strauss only participated in the creation of RAYL Innovations from a consulting standpoint and were never officially on the corporate team. Jeremy Write also contends he was only a “fractional CFO” for PayVida and never a director, though multiple online sources still list him as such. While we tried to confirm his title through multiple online sources, his own LinkedIn profile was strangely missing any information concerning PayVida. Mr. Wright stressed the lack of connection between PayVida and RAYL Innovations.

Mr. Wright was also adamant that RAYL Innovations has never taken credit card payments, although their website previously advertised payment services and rates: “RAYL empowers you to accept credit cards and even hidden payment methods using QR Codes and Crypto Currencies.” These particular service listings have since been removed from the website. It would appear this correction is in reference to RAYL Innovation’s recent IP acquisition and the expected relaunch of their payment services.

Location & Ownership

RAYL’s headquarters are located at Suite 520 – 470 Granville Street Vancouver BC V6C 1V5, Canada, though other sources list Suite #704 – 595 Howe Street Box 35 Vancouver, BC V6C 2T5. Nicholas Jeffery is listed as CEO and Jeremy Wright is listed as the CFO of RAYL, while David Tafel is listed as Director.

RAYL does not disclose its partner banks through which it processes its payments.

Table of Contents

RAYL Innovations payment processing
RAYL Innovations offers standard payment processing services

RAYL Innovations Customer Reviews

Here's What Their Clients Say

Customer Reviews Summary
Item Result
Public Complaints Low
Lawsuits None
Customer Support Email
Recent Lawsuits No

Low Number of Complaints

There are very few negative RAYL reviews online, and this is partially due to how new the RAYL brand name is. Besides the stigma following it from PayVida, we have been able to find very few negative RAYL reviews. We have found an equal lack of positive RAYL reviews as well, indicating it’s still very early in RAYL’s lifespan. If you have a RAYL review to make, please do so in the comments below.

RAYL Lawsuits and Fines

We have not found any outstanding class-action lawsuits or FTC complaints filed against RAYL. Dissatisfied clients who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations and by leaving a review of your own in the comment section of this article below.

RAYL Customer Support Options

While there is a contact number for the RAYL corporate office, there does not appear to be a dedicated customer service phone number. Due to this, we have rated their customer support as a “C” at this time.

RAYL Customer Service Numbers

  • 604-837-7990 – RAYL Corporate Offices
  • 604-417-4440 – Investor Relations

Other Support Options

RAYL Innovations Online Ratings

Here's How They Rate Online

No BBB Profile

Rayl Does not maintain a Better Business Bureau profile at this time, and we will not take it into account for our rating.

RAYL Innovations Fees, Rates & Costs

A Closer Look at The Contract

Cost & Fees Summary
Item Result
Cancellation Penalties Possible
Monthly & Annual Fees Unclear
Processing Rates Interchang-plus
Equipment Leasing Yes

Unknown Contract Terms

RAYL appears to promote an interchange-plus model on their website; however, according to the CFO Jeremy Wright, RAYL does not currently and has never offered payment processing. This is particularly confusing considering there is literally a section on the RAYL website labeled “Payment Solutions” that is exactly as expected for a business that processes payments, including offering to connect with POS terminals and card swipers.

Negotiate Contract Pricing

We have not been able to locate a RAYL merchant account contract at this time and we encourage the company to reach out to us to supply one when it becomes available. Because of this, it is unclear what the RAYL rates or fees would be. Businesses that have recently signed up for payment services through RAYL are encouraged to leave a comment below describing their experience. Business owners are again encouraged to negotiate pricing and contract terms and to read all contracts thoroughly before signing in these cases. We also encourage businesses to check out our list of the providers of the best merchant accounts.

RAYL Innovations Employee Reviews & Sales Tacitcs

Should You Work For Them?

Jobs & Marketing Summary
Item Result
Uses Independent Resellers No
Telemarketing No
Misleading Marketing Possible
Discloses All Important Terms No

No Independent Sales Teams

From the information we have gathered about sales positions available at RAYL, we have found no indication that RAYL enlists outside independent sales agents. This is encouraging for businesses considering RAYL. Their interchange-plus model also encourages transparency in their rates and fees. This compares favorably to our list of best credit card processors. We implore our readers to share their experiences with RAYL’s sales staff in the comments below.

Potential Hidden Costs

While the upfront costs of the interchange-plus model are very easy to see, there are reports of extra charges associated with storage. We currently do not have any information about this and how it relates to clients using the RAYL system. If any of our readers have current information on extra costs associated, please comment below.

Our RAYL Innovations Review Summary

Our Final Thoughts

At this time, we cannot confidently recommend RAYL as a credit card processing provider due to the likelihood that RAYL’s leadership is, or was, essentially the same as PayVida’s. Furthermore, the company appears to be disguising these connections and has not confirmed nor denied its connection to Robert Ronning/Zoost or Ryan Strauss.  Although the RAYL complaints record is clean, it potentially has people in leadership positions with confirmed histories of dishonest and unethical behavior. It is also concerning and confusing that RAYL has made extensive efforts to directly deny to us that it processes payments despite a prominent Payment Solutions section on its website. We encourage any feedback about these concerns to be left in the comment section below.

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Your Comments & Reviews

How Did RAYL Innovations Treat You?

4 Responses

  • Michael Spetko


    We sued PayVida and won 1.4 million. Supreme Court Justice Madame Douglas ordered PayVida to pay.
    Can you post the Order after Trail if I send to you ?

  • Jeremy Wright, Director

    RAYL Innovations Inc.

    RAYL has never offered merchant payment services since incorporation. The Company is a FinTech start-up, has launched it’s 1st module, RAYL.Apptive; has plans to provide merchant services through a fulsome payment ecosystem currently under development, but that solution will be offered in the future, with no release timeline as at today’s date.

    Any disclosure about merchant payment services on RAYL’s website has always been future-oriented, i.e. “will” and “would”. If there was current tense disclosure, it would have been in error and immediately removed upon review by management.

    • Phillip CPO

      As of the posting of this comment, RAYL promotes on its website an intention to facilitate payments at some point in the future. Due to this, we intend to maintain a review of the company.

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