ReversePAY Credit Card Processing Reviews & Complaints

ReversePAY Logo
Overall Score
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How did they treat you?
Pros and Cons
Pros: Cons:
Wide acceptance range. Transaction limits may apply.
Lower transaction fees. Limited global reach.
Enhanced security measures. Possible technical glitches.
Streamlined payment processing. Integration complexities.
User-friendly interface. Specific hardware requirements.
Reliable customer support. Varying scalability options.

Note: As of 2023, the ReversePAY website is down. It is currently unclear what the status of the company is. If you have any information, please let us know in the comment section below.

Company Overview

Headquartered in Florida, ReversePAY is a merchant account provider that uses an unconventional, surcharge-based pricing structure by relying on a zero-fee processing program. ReversePAY shares a basic concept, a founding year, and some identical marketing language with a subsidiary of Electronic Exchange Systems LA (EXS LA) called Reverse My Fees, but the two companies do not publicly acknowledge any link between them. EXS LA is an ISO of Total Merchant Services. ReversePAY also describes itself as a “Cash Tech” company, which seems to mean that it is a DBA or subsidiary of CashTechATM, an ATM provider under the same ownership.

ReversePAY Payment Processing

ReversePAY processes payments for all major debit and credit cards for all business types. They also offer virtual and online processing through a virtual terminal, mobile solutions, and in-store solutions including ATMs through their other business venture, Cash Tech.

Online and Mobile Payment Solutions by ReversePAY

To cater to the growing demand for digital payment solutions, ReversePAY offers online and mobile payment services. These services enable users to conduct secure transactions over the internet or via mobile devices. The emphasis is on providing a seamless payment experience across multiple platforms to cater to a broad range of customers.

Real-Time Payment Tracking with ReversePAY

A notable feature of ReversePAY's service portfolio is its real-time payment tracking capability. This feature provides users with up-to-the-minute updates on their transactions, allowing for better control and visibility over payments. It is particularly beneficial for businesses that require frequent and immediate updates on their financial transactions.

Integrated Business Management Tools by ReversePAY

Beyond payment processing, ReversePAY also offers integrated business management tools. These comprehensive solutions encompass various business functions, including inventory management, CRM, and data analytics. Such features are designed to optimize operational efficiency, making it easier for businesses to manage their financial transactions alongside other aspects of their operations.

Secure Payment Services of ReversePAY

In light of the increasing demand for secure transactions, ReversePAY provides enhanced security services. The company implements stringent security measures to ensure safe transactions, incorporating features like secure encryption and fraud detection tools to protect against potential security threats.

Location & Ownership

Vy Chantharasy is the president and co-founder of CashTechATM and ReversePAY. ReversePAY lists its address as 111 North Wabash Ave., Chicago, IL 60602, and we have also seen 12001 Research Parkway, Orlando, Florida 32629 listed as an address for the company.

ReversePAY payment processing
ReversePAY offers standard payment processing services

ReversePAY Customer Reviews

Here's What Their Clients Say

Customer Reviews Summary
Total Online Complaints <10
Live Customer Support No
Most Common Complaint N/A
Recent Lawsuits No

No Public Complaints

With the exception of a single private correspondence that we have received, we are unable to locate any negative ReversePAY reviews that accuse the company of being a scam or a ripoff. ReversePAY is still a very new brand with multiple DBAs and an unorthodox approach, so it is possible that it hasn’t developed a large enough user base to generate public feedback. It’s also possible that those seeking to make a ReversePAY review have found their way to the public profiles of CashTechATM instead. In the absence of any evidence of customer dissatisfaction, we would typically assign ReversePAY an “A” rating in this category. If you have your own ReversePAY review to make, please do so in the comments below.

ReversePAY Lawsuits and Fines

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

ReversePAY Customer Support Options

ReversePAY lists a phone number for general contact and a dedicated email address for customer support on its website.

ReversePAY Customer Service Number

  • (844) 329-3633 – Toll-Free General Customer Service

Other Support Options

This falls short of our expectations for the top-rated payment processors for great customer service.

ReversePAY Online Ratings

Here's How They Rate Online

No Profile Available

The Better Business Bureau does not maintain a profile for ReversePAY, Reserve My Fees, or CashTechATM at this time. We therefore will not factor a BBB rating into this review.

ReversePAY Fees, Rates & Costs

A Closer Look at The Contract

Cost & Fees Summary
Cancellation Penalties Undisclosed
Monthly & Annual Fees Yes
Processing Rates 1.00% - 4.00%
Equipment Leasing Unclear

Surcharge-Based Pricing Model

ReversePAY does not disclose any details of its pricing on its website, except for the general premise of adding convenience fees to each transaction to offset interchange costs. Given the company’s nearly identical branding to Reverse My Fees, it’s possible that it closely imitates Reverse My Fee’s pricing model. Reverse My Fees charges merchants 4% on all credit card transactions but adds a surcharge equivalent to the interchange fees of all transactions and then transmits the proceeds from those surcharges to the business. It should be noted that businesses in California, Colorado, Texas, New York, Florida, Kansas, Maine Connecticut, Massachusetts, and Oklahoma cannot participate in the company’s zero-fee processing program. As a result, the client effectively pays 4% minus the cost of interchange, with Reverse My Fees keeping the difference. According to a sample statement shown on the Reverse My Fees website, the company also charges a $5 monthly service fee, a $9.95 assurance fee, a $3.50 regulatory compliance fee, and a $9.95 monthly loss protection fee. These fees plus the difference between 4% and the company’s surcharges will constitute Reverse My Fees’ profit on a merchant’s account.

Other Possible Fees

There are other undisclosed elements of the ReversePAY rates and contract that can heavily impact a business’ costs, such as its pricing for debit transactions, any annual PCI compliance fees, its monthly minimum fee, its equipment leasing policies, and its early termination fee. The company does not disclose these details on its website. If ReversePAY charges 4% on debit card transactions, then it will make an absurd profit on debit card payments (which can receive interchange rates as low as 0.05% plus $0.21). Since surcharges cannot legally be added to debit card purchases, the company’s standard “surcharge” model does not allow for a way to reimburse clients for those transaction fees.

Virtual Terminal and Payment Gateway Pricing

In addition to its storefront payment processing services, ReversePAY also dedicates a portion of its website to advertising its virtual terminal and payment gateway services. Pricing is not disclosed on either of those services. However, the company does disclose that its surcharges-based pricing is an option for e-commerce businesses. Additional rates and fees, including gateway fees, technical support fees, batch fees, and additional transaction rates typically apply to these e-commerce services.

Surcharge Restrictions

There are also broader questions that surround ReversePAY and its implementation. For instance, Visa’s rules for surcharging state that merchants must “limit surcharging to credit cards only (no surcharging debit and prepaid cards) and limit the amount to your merchant discount rate for the applicable credit card surcharged,” meaning that clients cannot add a surcharge to a card that exceeds the card’s discount rate (interchange fee) or 4%, whichever is lower. Therefore, it would seem that ReversePAY can only comply with card network rules if its software calculates the discount rate of each transaction and adds an equivalent surcharge in real time. The examples provided by the company in various promotional materials indicate that it is more likely to apply a fixed surcharge of 3%-4% to all transactions with the expectation that this will cover a merchant’s discount rate for most cards. However, since this approach would result in some surcharges exceeding a card’s discount rate, it is unclear whether this approach is compliant with the rules outlined by Visa.

Surcharge Disclosure

Another issue is the matter of proper surcharge disclosure, which is a burden that falls to each individual business in compliance with state laws. It is our belief that ReversePAY has an obligation to assist its clients with proper signage and disclosure in all cases. Furthermore, businsses who use the ReversePAY system will need to communicate to their customers that they are passing an additional cost of nearly 4% on to them for the use of a credit card, which may or may not affect their ability to remain competitive.

Risk of Non-Compliance

We have received a private correspondence alleging that Reverse My Fees surcharges all debit cards, does not provide compliant signage to businesses, and does not give card brands the 30-days notice that they require to add surcharges. However, we have seen no public ReversePAY reviews that corroborate these claims, and it is unclear if they are applicable to ReversePAY. If they are true, then ReversePAY could potentially be exposing its clients to legal ramifications. If the company is in fact operating in compliance with all rules and regulations, then it is theoretically possible that it could save clients large sums of money.

Score Withheld

Considering everything we know about ReversePAY and the allegations made privately about its practices, we will refrain from assigning it a rating in this section. Moving forward, we will rely heavily on verifiable merchant feedback when it comes to filling in the details of its service and the rating it should receive. We also encourage business owners to check out our list of the providers of the best merchant accounts.

ReversePAY Employee Reviews & Sales Tacitcs

Should You Work For Them?

Jobs & Marketing Summary
Uses Independent Resellers Yes
Telemarketing Unclear
Misleading Marketing No
Discloses All Important Terms No

Zero-Fee Processing Explained

ReversePAY takes a highly unconventional pricing approach by using proprietary software to charge customers “convenience fees” that are equal to the interchange fee of each credit card transaction. It then gives the proceeds from these convenience fees directly to merchants to offset ReversePAY fees, specifically monthly and per-transaction fees. In effect, this enables ReversePAY to charge a very high flat per-transaction fee and collect a profit while also helping merchants cancel out their processing costs with surcharges. This is accomplished by shifting the costs of interchange fees directly to customers.

Zero-Fee Processing Regulations

The pricing structure used by ReversePAY is made possible by a 2013 legal settlement between a group of merchants and the major credit card brands. This settlement granted businesses the right to charge their customers a maximum surcharge that is equal to their discount rate on any credit card transaction (with a maximum surcharge of 4%). In order to start adding these surcharges, businesses must notify the card networks and their acquiring bank of their intention to add surcharges at least 30 days before they start surcharging. They must also add signage disclosing the surcharges to their customers. Surcharges cannot be added to debit cards, prepaid cards, or EBT cards, and surcharges are completely outlawed at the state level in California, Maine, Florida, Kansas, Texas, New York, Massachusetts, Texas, Florida, Oklahoma, and Colorado. Visa has provided a useful FAQ on this issue here and a separate infographic here.

Look Past the Ads

At first glance, ReversePAY’s marketing language about “reversing” fees and “zero-fee” processing appears highly suspicious and unrealistic. These descriptions aren’t entirely accurate since nothing is really being reversed and each business’ overall cost is likely going to be above $0. However, the company does explain its pricing approach on nearly every page of its website, which will hopefully limit confusion among clients. Aside from the fact that it resorts to simplistic promotional language to describe its complicated pricing structure, there is no evidence that ReversePAY engages in deceptive or unethical marketing tactics. This compares favorably to our list of best credit card processors.

No Sales Complaints

Similarly, we are unable to locate any ReversePAY reviews that describe negative experiences with the company’s sales agents. Given the lack of any evidence that ReversePAY is engaged in unethical sales behavior, we would typically assign the company an “A” rating in this section. If you suspect that the company has misrepresented the rates you are paying, you can double-check your monthly bill with a third-party statement audit.

reversepay zero fee merchant processing
The ReversePAY zero-fee model is a relatively unique way of processing payments.

Our ReversePAY Review Summary

Our Final Thoughts

We are withholding an overall rating for ReversePAY as a credit card processing provider at this time due to the company’s brief time in business, unusual pricing strategy, and lack of public merchant feedback. At first glance, the company’s pricing seems like an interesting option for businesses who are willing to surcharge their customers, but it also has the potential to generate some unacceptably high markups for ReversePAY. Business owners who are considering ReversePAY should educate themselves on the differences between cash-discount and zero-fee processing.

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Testimonials & Complaints

How Did ReversePAY Treat You?

1 User Reviews

  • Beau Norma

    I couldn’t be more thrilled with the experience I’ve had using ReversePAY! From the very beginning, their seamless onboarding process made setting up my business’s payment system a breeze. Their efficient and user-friendly platform allowed me to start accepting payments in no time.

    What truly sets ReversePAY apart is their exceptional customer support. Whenever I had a question or needed assistance, their knowledgeable team was just a phone call or email away, providing quick and reliable solutions.

    Thanks to ReversePAY, managing transactions has become a stress-free task, and their secure payment gateway gives me peace of mind. I can now focus on growing my business, knowing that my customers’ payment information is in safe hands.

    In short, ReversePAY has been a game-changer for my business, and I highly recommend their services to anyone seeking a top-notch payment processing solution. Kudos to the ReversePAY team for a job well done!

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