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Secure Trading Review: Fees, Complaints, Comparisons & Lawsuits
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Note to readers: Secure Trading is now known as Trust Payments. Please read our Trust Payments review for more up to date information on Secure Trading.
International E-Commerce Payment Processing
Secure Trading is a large, London-based merchant account provider that serves most standard risk e-commerce business types in the U.S. and UK. The company was founded in 1997 and is a subsidiary of the UC Group. The company operates its merchant services under the name Trust Payments. Secure Trading is partnered with multiple acquiring banks and does not list a preferred backend credit card processor on its website. However, information available online suggests that the company is partnered with Barclaycard, Elavon, and First Data (now Fiserv).
Point of Sale
Secure Trading offers a complete suite of POS solutions for merchants. This includes contactless payment, chip and pin entry, magstripe, countertop POS systems, and mobile payment support. Their 24/7 support for their point-of-sale solutions is a prime selling factor for the company, as is their ability to take payments in a variety of currencies and their omnichannel solutions.
Secure Trading Location and Ownership
On May 8, 2019, the company announced an ownership change. CORDET Capital Partners LLP, an independent investment fund management firm acquired Secure Trading which has made it a division of TRUST Payments Limited. Daniel Holden is the CEO of Secure Trading, which is headquartered at No.1 Royal Exchange, London, EC3V 3DG. Daniel Holden is the CEO of Trust Payments.
Secure Trading Review Table of Contents
- Costs & Contract: Secure Trading offers a one-year contract with a limited liquidated damages-style early termination fee.
- Complaints & Service: Secure Trading has received fewer than 10 public complaints.
- BBB Rating: Secure Trading does not have a rating with the Better Business Bureau at this time.
- Sales & Marketing: Secure Trading does not appear to hire independent sales agents and has not received any complaints about its sales practices.
- Rates & Fees: How Merchants Got The Best Rates With Secure Trading
Secure Trading Customer Reviews
Here's What Their Clients Say
|Total Online Complaints||<10|
|Live Customer Support||Yes|
|Most Common Complaint||N/A|
Clean Complaint Record
We are able to locate just 5 negative reviews about Secure Trading at this time. 3 of these 5 complaints go as far as to accuse the company of being a scam or fraud. Other than this handful of comments, there is a remarkable lack of both positive and negative feedback regarding the company. That dearth of merchant reviews makes it difficult to determine how satisfied the average Secure Trading merchant is. Given the total absence of negative reviews, we will award Secure Trading an “A” rating at this time.
Secure Trading Lawsuits
We have not found any outstanding class-action lawsuits or FTC complaints filed against Secure Trading. Dissatisfied merchants who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations.
Secure Trading Customer Support Options
The company offers 24/7 phone support in addition to an online help section and email support. These contact options are close to what we expect from top payment processors for customer service.
Secure Trading Online Ratings
Here's How They Rate Online
|Product & Service Complaints||0|
|Billing & Collection Complaints||0|
|Advertising & Sales Complaints||0|
|Guarantee & Warranty Complaints||0|
The Better Business Bureau currently maintains a profile for Trust Payments’s Phoenix location, to which it currently does not assign a rating. The BBB has not received any complaints about Secure Trading in the past three years, nor has it received any informal reviews. This location is not the primary location for the company, so we will not factor the BBB’s profile into this review at this time.
Secure Trading Fees, Rates & Costs
A Closer Look at The Contract
|Virtual Terminal Rate||1.00% - 4.99%|
|Payment Gateway Fee||Undisclosed|
|Early Termination Fee||None|
|PCI Compliance Fee||Undisclosed|
|Equipment Lease Terms||Undisclosed|
Secure Trading Contract Terms
The standard Secure Trading merchant agreement is a one-year term with automatic renewal for successive one-year terms with no early termination fees. The contract may only be canceled with written notice 180 days before the end of a current term, and the merchant will be responsible for paying monthly and transaction fees for the remainder of the contract term. This is very similar to a Liquidated Damages early termination fee, but the fact that each term is only one year will limit the ultimate cost of cancellation for merchants.
No Pricing Complaints
Secure Trading does not list its specific rates or fees in this agreement, so merchants should be sure to consult Schedule 1 for additional monthly and per-transaction costs. Overall, there are no public complaints about excessive costs through Secure Trading, so we will assume that most users are comfortable or satisfied with their pricing at this time. Be sure to read “Fee Sweep” to understand merchant account fees and how to negotiate them in your favor.
Secure Trading Employee Reviews & Sales Tacitcs
Should You Work For Them?
|Employs Independent Resellers||Yes|
|Advertises Deceptive Rates||No|
|Discloses All Important Terms||No|
Inside and Outside Sales Staff
Secure Trading appears to primarily market its services via inside and outside sales reps, traditional advertising, and strategic partnerships. There is no evidence at this time that the company employs a large team of independently contracted sales agents, and we cannot find any Secure Trading complaints that specifically mention deceptive tactics by the company’s representatives.
No Deceptive Quotes
Secure Trading also does not list any misleading rate quotes or unrealistic guarantees on its website. In light of these factors, we have assigned the company an “A” in this category for the time being. However, if you suspect that Secure Trading is charging you undisclosed fees, we recommend seeking a third-party statement audit to find and eliminate hidden costs.
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