Schmooze, Inc. Overview

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A Nationwide Payment Solutions Reseller

Schmooze, Inc., founded in 2001, is a merchant account provider for businesses ranging from retail stores, hotels, and restaurants to internet-based businesses. Schmooze, Inc. is a reseller of credit card processing services supplied by Nationwide Payment Solutions.

Location and Ownership

The company is headquartered at 2536 Eastern Blvd., Suite 456, York, Pennsylvania 17402. Nationwide Payment Solutions is a registered ISO/MSP of Deutsche Bank AG, New York., and Ryan Wert is listed as the president of Schmooze, Inc.

Schmooze, Inc. Review Table of Contents

  • Costs & Contract: Schmooze offers a 3-year contract through Nationwide Payment Solutions with an early termination fee that can be avoided by cancelling with 60 days of notice.
  • Complaints & Service: Schmooze has received fewer than 10 public complaints.
  • BBB Rating: Schmooze has an “A+” rating with the Better Business Bureau and has received 0 complaints in the past 3 years.
  • Sales & Marketing: Schmooze 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 Schmooze

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Products & Services Offered

  • Debit and credit card processing
  • POS equipment
  • Online payment gateway
  • Mobile processing
  • Check services
  • Gift and loyalty programs

Types of Businesses Served

  • Retail
  • Mobile
  • E-commerce
  • Restaurant
  • Lodging

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Schmooze, Inc. Rates, Fees, and Costs

Key Points

Swiped Rate 1.00% - 4.99%
Keyed-in Rate 1.00% - 4.99%
Set Up Fee $125
Annual Fee $69
Regulatory Reporting Fee $12
Support Fee $10 Per Month
Early Termination Fee $250 Or $500
PCI Compliance Fee $9 Per Year
Equipment Lease Terms Undisclosed

Termination Policy

Schmooze appears to resell an unaltered Nationwide Payment Solutions contract to its merchants. This agreement offers standard industry pricing that is subject to variation depending on a merchant’s size, business type, and time in business. It also includes a unique termination policy by which a merchant can cancel service at any time and avoid a termination fee so long as notice is provided 60 days in advance. Failure to give proper notification or to serve out the remaining 60 days of the contract results in payment of an early termination fee of either $250 or $500. This policy appears to be enforced diligently by Nationwide and Schmooze, so merchants are advised to understand it in full before signing up for service.

Nationwide Payment Systems also lists an initial setup fee of $125, a monthly minimum feeof $25, an annual fee of $69, a PCI compliance fee of $99 per year, an annual regulatory reporting fee of $12, a monthly support fee of $10.

Schmooze Contract Terms

At this time, we have found only one online complaint about the company’s contract terms, which seems to have resulted from a merchant’s confusion over this policy. Although not competitive with the cheapest merchant accounts, this agreement is only one version of the Nationwide Payment Solutions Merchants contract as sold by Schmooze, and there may be potential for additional savings after negotiation.

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Schmooze, Inc. Complaints & Customer Reviews

Key Points

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

Parent Company Complaints

We are currently unable to locate any Schmooze complaints, but we did find roughly 8  complaints filed against Schmooze’s closely affiliated parent company, Nationwide Payment Solutions. Some of these complaints accuse the company of being a scam or ripoff. A few of these complaints appear to have been filed by a group of former employees who claim to have been denied the residuals they earned, but these cases have been rebutted sufficiently enough by the company for us to discount them at this time. Around five additional complaints were filed by merchants. One merchant complaint expresses frustration with nondisclosure of the company’s mandatory PCI compliance policy, while another merchant appears to be confused about the duration of his contract.

Schmooze Lawsuits

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

Schmooze Customer Support Options

Given the fact that the above problems seem to be limited to Nationwide Payment Solutions, we will not penalize Schmooze for the actions of its parent company. For Schmooze’s size and time in business, its low complaint volume leads us to believe that the company offers generally forthright contract terms and responsive customer support.

The company’s website lists general contact information, but in the absence of dedicated support lines, Schmooze does not qualify as a top-rated merchant account provider for customer service.

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Schmooze, Inc. BBB Rating Summary

Key Points - BBB

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

No BBB Complaints

Though Schmooze is not an accredited business of the Better Business Bureau , it presently holds an “A+” rating. The complaint resolution log shows 0 merchant issues within the last 36 months. The company has also not received any informal reviews on its BBB profile, although it should be noted that these reviews would not be subject to verification by the BBB.

An “A” Performance Overall

Given the company’s clean BBB profile, we agree with the BBB’s rating at this time, but merchants should be aware that there is reason to be skeptical of the BBB’s reviews.

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Truth In Marketing & Advertising

Key Points

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

Schmooze Sales Approach

Schmooze appears to market its services through its partnership with Nationwide and through referral programs, and it is unclear at this time whether Schmooze employs independent sales agents. There are currently zero negative Schmooze reviews that mention its sales team.

No Misleading Quotes

The company also does not appear to engage in deceptive advertising strategies in its official materials. If you have had any experience with the Schmooze sales team, please describe that communication in the comment section of this review. Additionally, if you suspect that Schmooze is charging you undisclosed fees, we recommend seeking an independent statement audit to spot and eliminate hidden charges.

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Our Opinion of Schmooze, Inc.

A Solid Option for Most Businesses

Schmooze rates as a reliable merchant services provider according to our rating system. The company is showing no complaints online, and most of the complaints filed against its parent company are of dubious veracity. Schmooze appears to offer average pricing but reasonably competitive termination policies. Even when dealing with a highly rated provider, merchants are encouraged to read their agreements carefully, to strongly negotiate terms, and to compare costs to those offered by top-rated credit card processors.

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Why I'm Qualified to Write About Credit Card Processing

I'm a former credit card processing sales director who left the industry to start my own a small business. From the time that I starting working in the merchant services industry to when I left to write about it, I've been on the pulse of payments for nearly 15 years. It didn't seem fair to keep this insider knowledge to myself, so built this website to help small business owners research which service providers to use and how to save money on rates and fees. 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 here. I can help you save money with your current merchant account or help you find a new one. Message me here to get started.

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