Updated 1/15/2019: According to a company representative, SecureNet is now a fully owned subsidiary of Worldpay. The SecureNet brand appears to have been completely absorbed into the Worldpay brand, meaning that there is no functional difference between the two entities at this time. See our Worldpay review for up-to-date information about this company.
SecureNet (securenet.com) is a merchant account provider headquartered in Austin, Texas, after relocating from Rockville, Maryland. The company appears to have used Veracity Payment Solutions as its payment processor at one point, but it is now a subsidiary of WorldPay. Founded in 1996, SecureNet is a registered ISO/MSP of Wells Fargo Bank, N.A., Walnut Creek, California and Eagle Bank, N.A., Bethesda, Maryland, and is located at 12357 Riata Trace Pkwy, Austin, Texas 78727. Brent Warrington is listed as the CEO of SecureNet.
Customer Reviews & Sentiment
We are currently able to locate over ten SecureNet negative reviews, but none of these complaints accuse the company of being a scam or a ripoff. Most have been posted by former employees of the company, who report a disorganized and unsupportive corporate environment. One was left in the comment section of this review, and it cites a billing issue and difficulty contacting customer support. It received a thorough and helpful response from a company representative. Given the fact that there are almost no SecureNet complaints posted by merchants online, we will assume that the company’s internal issues are not currently affecting the service it delivers. The SecureNet website lists a phone number for customer support and provides an email form, and the company appears to service these lines directly.
Industry Scores & User Ratings
| Product & Service Complaints | 1 |
|---|---|
| Billing & Collection Complaints | 7 |
| Advertising & Sales Complaints | 0 |
| Guarantee & Warranty Complaints | 0 |
| Delivery Complaints | 0 |
Note: We have adjusted this company’s BBB rating according to our own standards. To better understand why we adjust BBB ratings, please see our Rating Criteria.
SecureNet currently has an “A+” rating with the Better Business Bureau and has been accredited since March 2013. The company has received eight complaints in the past 36 months, with one related to problems with its products or services while the other seven had to do with billing and collection. Six complaints have been resolved by the company with BBB assistance, while two were resolved to the dissatisfaction of the merchant. In light of these figures, we have adjusted the company’s BBB rating to an “A-” for the purposes of this review.
Processing Rates & Fees
SecureNet advertises two different pricing structures on its website. The first, called “Pay As You Go” pricing, includes no annual contract, a swiped (card-present) rate of 2.55%, and a keyed (card-not-present) rate of 2.75% plus $0.25. The second option, “Pay Monthly,” offers a swiped rate of 1.65% plus $0.20 and a keyed rate of 2.55% plus $0.20 for a monthly fee of $15.95. According to the company’s website, there are no setup fees or monthly minimum fees, and it does not appear as though the company’s standard agreement charges an early termination fee. The SecureNet website advertises that PCI Compliance is included in its service, but it’s unclear whether this means that the company charges a PCI Compliance fee.
The SecureNet terms and conditions are available on its website (also below) and they describe a three-year agreement. As this appears to be at odds with the company’s claim of no annual contract, it may be that these terms and conditions are outdated. In any event, the company’s contract terms appear to be reasonably competitive and transparently communicated, and there are no merchant complaints about SecureNet’s contract terms at this time. We are therefore inclined to assume that most of the company’s clients are satisfied with their service. See the SecureNet Terms and Conditions.
Bottom Line
SecureNet rates as a reliable merchant account provider according to all available information. Most of the company’s public complaints have been posted by former employees, and the issues described therein do not appear to have affected merchants. SecureNet’s rating may change as it becomes more closely integrated into WorldPay.
Overall Rating
