Red Payments Overview
8/19/2019: As of this update, Red Payments website domain is no longer registered with the company. It remains unclear whether this means the company is no longer in business. Red Payments parent company, National Merchant Services, still has a functioning website and was had its review on this website last updated on June 27, 2019. Merchants with any insight into the current status of the Red Payments’ operations are encouraged to leave any insight they have in the comments section of this review.
A DBA of National Merchant Services
Red Payments is a merchant account provider that appears to operate as a DBA of National Merchant Services. The two companies share an address at 132 W 36th St, New York, New York 10018, and the National Merchant Services website displays some ad copy that mentions Red Payments by name. Red Payments serves most standard-risk business types and claims to serve over 10,000 merchants. The company also claims to have been founded in 2008, but it was not incorporated in the state of New York until 2011.
Red Payments Location and Ownership
Red Payments is a registered ISO/MSP of Merrick Bank, South Jordan, Utah and of Wells Fargo Bank N.A, Walnut Creek, California. Alex Groyzburg is the president of Red Payments, while Simon Lobanov is the company’s CEO.
Red Payments Review Table of Contents
- Costs & Contract: Red Payments appears to offer a three-year contract with an early termination fee of $495.
- Complaints & Service: Red Payments has received more than 50 public complaints.
- BBB Rating: Red Payments has an “A” rating and has received 43 complaints and 12 reviews in the past three years. The company has been accredited by the BBB since 2015.
- Sales & Marketing: Red Payments hires independent sales representatives and has received a moderate number of complaints about its sales practices.
- Rates & Fees: How Merchants Got The Best Rates With Red Payments
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