Shark Processing Reviews & Complaints
Company Overview
Founded in 2016, Shark Processing is a merchant account provider that specializes in serving high-risk business types. The company is capable of processing payments for U.S. and Canada-based businesses as well as merchants who require merchant accounts through offshore banks.
Shark Processing Payment Processing
Shark Processing processes all major debit and credit cards with a focus on high-risk business types. They also process international businesses and make particular note of their ACH processing services.
Location & Ownership
Shark Processing does not list its acquiring banks on its website, but it states that it is partnered with 8 different banks in order to serve a wide range of businesses. Shark Processing is located at 1309 Coffeen Avenue STE 3991, Sheridan, Wyoming, 82801. Gus Hanger is the CEO of Shark Processing.
Shark Payment Solutions Customer Reviews
Here's What Their Clients Say
Total Online Complaints | <10 |
---|---|
Live Customer Support | Unknown |
Most Common Complaint | N/A |
Recent Lawsuits | No |
Minimal Complaints
Currently, we’ve found only one negative Shark Processing review, which appears in the comment section below this article. The complaint seems to stem from a single incident involving a sales agent, suggesting it may be an isolated occurrence. Given that Shark Processing was founded in January 2016, its low complaint total could be attributed to its relatively short time in the industry, with fewer opportunities for clients to provide feedback. It’s important for readers to recognize that the limited complaints don’t necessarily indicate exceptional service; rather, it reflects a lack of extensive feedback. Share your own experience with Shark Processing in the comments section below.
Legal Standing
No class-action lawsuits or FTC complaints have been reported against Shark Processing. Clients dissatisfied with the company’s services can explore reporting concerns to relevant supervisory organizations.
Customer Support
Shark Processing encourages potential merchants to initiate contact through an online form to schedule a call. Additionally, they provide a toll-free phone number. While it’s unclear if this number is dedicated to customer support, there have been no significant complaints regarding service quality.
Shark Processing Customer Service Number
- (800) 567-3019 – Toll-Free Support
Other Support Options
- Contact form
- Customer service via email at [email protected]
Despite these options, Shark Processing does not currently meet the criteria to be considered a top-rated credit card processor for customer service.
Shark Payment Solutions Online Ratings
Here's How They Rate Online
No Profile
The Better Business Bureau does not currently maintain a profile for Shark Processing. We therefore will not factor a BBB rating into this review.
Shark Payment Solutions Fees, Rates & Costs
A Closer Look at The Contract
Cancellation Penalties | Unclear |
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Monthly & Annual Fees | Unclear |
Processing Rates | 5.49%+ |
Equipment Leasing | Unclear |
Shark Processing Contract Terms
There is very little public information about the standard Shark Processing contract. The company does not provide its contract terms on its website, and only one client complaint — found below this review — cites a setup fee of either $100 or $1000. The company’s website advertises that its transaction rates start at 5.49%. The Shark Processing website does mention some sample conditions such as a per-transaction fee of 6.99% to 8.99% and a rolling reserve of 10%, but these will only apply to a very specific type of merchant.
High-Risk Merchant Rates
In general, businesses in very high-risk industries should expect higher-than-average fees and potential rolling reserves with strict limits on the number of chargebacks they receive. This eliminates the likelihood that Shark Processing’s contract terms are competitive with the cheapest merchant accounts. Shark Processing can find more competitive rates and fee structures for businesses in low-risk, brick-and-mortar sectors.
Carefully Review Contracts
The lack of complaints about the company’s pricing and fees is a strong indication that most of its clients are satisfied with their contracts at this time. However, Shark Processing is a new enough business that readers should read and review all documentation before signing up. If you have any specific knowledge of the standard Shark Processing contract (including any early termination fees or PCI compliance fees), please share that information in the comment section below this review.
Shark Payment Solutions Employee Reviews & Sales Tacitcs
Should You Work For Them?
Uses Independent Resellers | No |
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Telemarketing | No |
Misleading Marketing | No |
Discloses All Important Terms | No |
No Sales Complaints
Shark Processing appears to primarily market its services via strategic partnerships and online advertising. There is no evidence at this time that the company employs a team of independently contracted sales agents, and we are unable to locate any Shark Processing reviews that describe unethical conduct by the company’s sales team. Shark Processing is a relatively new company and may still be honing its marketing approach, so client experiences could vary wildly.
No Misleading Quotes
The Shark Processing website occasionally provides some sample rates (such as “6.99%-8.99%” for kratom vendors), but these rates are probably realistic price ranges for high-risk business types. Overall, there appears to be little cause for concern in terms of the company’s sales approach. If you suspect that Shark Processing is charging you undisclosed fees, we recommend seeking a third-party statement audit to find and eliminate hidden charges.
Our Shark Payment Solutions Review Summary
Our Final Thoughts
Shark Processing rates as a reliable high-risk credit card processing provider according to our rating criteria. We are able to locate only one complaint about the company, and there does not appear to be anything that strongly suggests the company is a ripoff. Readers should still be sure to request full disclosure of all rates and to compare Shark Processing’s contract terms to the top-rated high-risk merchant accounts. We will continue to monitor client feedback about this relatively new company and adjust our rating as necessary.
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Ahmed Salama
This is my story with Shark Processing
Actually i have a bad reviews about Shark Processing , This Guy is a Big Scammer , his name is Jared and his phone number is [REDACTED – personal contact information], and his Skype : [REDACTED – personal contact information] He told me you will pay me 1000$ as setup cost i refused to pay that amount , we agreed to pay him 100$ as setup cost , i paid this amount after a couple of days he disappear and after 3 months he came back with a lot’s of apologizes, then he disappeared again.until now ,
Don’t deal with that Idiot because he is a big scammer will steel your money
Please don’t hesitate to contact me if you have any questions