Solupay Review: Fees, Comparisons, Complaints, & Lawsuits

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How did they treat you? ▼

Note: It appears that Versapay has fully absorbed Solupay. We will therefore no longer be updating this review.

Established in 2004

Founded in 2004, Solupay is a merchant account provider based in Twinsburg, Ohio. The company specializes in providing electronic payment processing for U.S. businesses of all sizes.

Versapay Merger

In October 2020 it was announced that Versapay and Solupay would merge to offer better service to both companys' clients. This includes Solupay’s subsidiaries ChargeLogic and 2CP. This places Versapay and Solupay under the ownership of Boston-based investment firm, Great Hill Partners. This merger also comes shortly after Great Hill Partner's acquisition of the Versapay brand in early 2020.

Solupay Payment Processing

Solupay processes all major debit and credit cards for most business types. Their services include EMV card readers and swipers, ACH payments, invoicing, recurring billing, and more.

Solupay Headquarters and Management

Solupay is a registered ISO/MSP of Wells Fargo Bank, N.A., Concord, California; the Canadian branch of the US Bank National Associatio; Elavon; and Fifth Third Bank, N.A., Cincinnati, OH. Solupay is located at 1470 Enterprise Parkway Twinsburg, Ohio 44087. Jayme Moss is listed as a managing member at Solupay.

Solupay Review Table of Contents

  • Sales & Marketing: Solupay appears to hire independent sales representatives but has not received any complaints about its sales practices.
  • Costs & Contract: Solupay appears to offer variable contract terms through First Data.
  • Complaints & Service: Solupay complaints number fewer than 10 on public complaints forums.
  • BBB Rating: Solupay has a “B-” rating with the Better Business Bureau and has received 1 complaint and 0 reviews in the past 3 years.

Solupay Customer Reviews

Here's What Their Clients Say

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

Low Complaint Volume

We are currently unable to locate more than one negative Solupay complaint on consumer protection websites. This is a solid indicator that the company doesn’t rip off or scam its merchants, although it is possible that Solupay complaints are instead filed against the company’s processor, First Data. In the absence of any evidence that this is occurring, we will assume that Solupay provides sufficient customer service to resolve all merchant complaints in-house.

Solupay Lawsuits and Fines

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

Solupay Customer Service Options

Solupay provides phone and email contact information to its merchants. The company’s customer service department seems to function at a level that is comparable even to top-rated payment processors for great customer service.

We have located a single Solupay customer service phone number:

(888) 765-8729 – Toll-Free Customer Support

Solupay also offers a customer support form and customer service email addresses at [email protected] and [email protected]

Solupay Online Ratings

Here's How They Rate Online

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

No BBB Complaints

Solupay maintains a “B-” rating with the Better Business Bureau at this time and is showing 1 complaint in the last 36 months. The 1 complaint had to do with a problem with a product or service and was resolved to the satisfaction of the merchant. Solupay also has not received any informal reviews on its BBB profile, but it should be noted that these reviews are not subject to verification by the BBB.

An “A” Performance

Considering the company’s spotless complaint record, we agree with the BBB’s former rating of “A”. Merchants should note, however, that there are reasons to be skeptical of BBB ratings.

Solupay Fees, Rates & Costs

A Closer Look at The Contract

Cost & Fees Summary
Swiped Rate 2.69% + $0.19
Keyed-in Rate 3.69% + $0.19
Virtual Terminal Rate 1.00% - 4.99%
Payment Gateway Fee Undisclosed
Early Termination Fee Up To $495
PCI Compliance Fee $19.95 Per Month
Equipment Lease Terms 48 Month (locked)

Variable Contract Terms

Solupay is an ISO of First Data, so its standard contract terms may be similar to those offered by First Data. First Data offers a wide variety of contract terms and pricing plans, but its standard agreement is typically a multiyear contract with an early termination fee of $495, a monthly PCI compliance fee of $19.95, and tiered pricing. Merchants who process up to $50,000 each month will receive a swiped rate of 2.69% plus $0.19 and a keyed-in rate of 3.69% plus $0.19. Merchants whose monthly charges exceed $50,000 will receive a swiped rate of 2.29% plus $0.19 and a keyed-in rate of 3.29% plus $0.19. Another facet of these contracts are non-cancellable, long term equipment leases through First Data Global Leasing.

Solupay does have the freedom to alter these terms depending on a merchant’s size, business type, and processing history as an ISO of First Data’s. The company advertises that it also provides merchants with the option to choose interchange-plus pricing, as opposed to a tiered rate structure. However, merchants choosing tiered rates may be charged those which typically apply to a First Data merchant account.

Virtual Terminal and Payment Gateway Pricing

In addition to its storefront payment processing services, Solupay also dedicates a portion of its website to advertising its virtual terminal and payment gateway services. However, pricing is not disclosed on either of those services. Solupay does optimize its e-commerce platforms with Signifyd fraud management tools for increased security for online payments. Additional rates and fees, including gateway fees, technical support fees, batch fees, and additional transaction rates typically apply to these e-commerce services.

Level 3 Processing Services

In addition to its traditional merchant services, Group ISO also advertises that it provides Level 3 processing for B2B and B2G transactions. Level 3 processing relies upon different interchange rates than traditional consumer credit transactions. Accommodating those rates requires different payment processing technology from a merchant account provider to transmit the amount of data required to facilitate the transactions. These services are reserved for B2B and B2G purchases that utilize corporate credit cards.

Negotiate Your Rates

Merchants should be sure to read their agreements carefully and negotiate favorable terms whenever possible. Given the lack of complaints about Solupay’s pricing and fees, we will award it an “A” for the time being. If you have any knowledge of the standard Solupay contract, please share that information in the comment section below this review.

Solupay Employee Reviews & Sales Tacitcs

Should You Work For Them?

Jobs & Marketing Summary
Employs Independent Resellers Yes
Advertises Deceptive Rates No
Discloses All Important Terms No

No Sales Complaints

Solupay appears to rely on referral programs, strategic partnerships, and independent sales agents to market its services. The use of independent sales agents is commonly linked to complaints within the credit card processing industry, but we are currently unable to locate any Solupay complaints that accuse the company’s sales team of unethical conduct.

This compares favorably to our list of best credit card processors.

No Misleading Quotes

In addition, the company’s promotional materials do not advertise deceptive rate quotes. We will therefore assume that Solupay does an adequate job of training and supporting its independent agents. If you suspect that Solupay is charging you undisclosed fees, however, we recommend seeking an independent statement audit to spot hidden charges. You can also leave a Solupay complaint in the comments below, if needed.

Our Solupay Review Summary

Our Final Thoughts

A Good Option for Most Merchants

Solupay rates as a reliable merchant services provider according to all available information. The company is showing only one complaint across all consumer protection websites, and there is no evidence that its sales agents utilize deceptive advertising strategies. Our rating for Solupay may change once more is known about its contract terms, and merchants should be sure to carefully read any contracts they are asked to sign. Merchants are encouraged to compare Solupay’s pricing to the top overall credit card processors to obtain the best all-around deal.

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Which is Most Important for You?

If you had to pick one, which quality would you say will be the most important with your next credit card processor? Tap or click your selection to register your vote:

  1. Low Transaction Fees
  2. No Monthly Fees
  3. No Contract
  4. Reliable Customer Support
  5. Quick Signup

Testimonials & Complaints

How Did Solupay Treat You?

5 User Reviews

  • Michael Quigley

    Solupay also can set up merchants with accounts for acquirers other than First Data. In the past they had an agreement with Chase/Paymentech. (However, I understand Chase has discontinued all ISO/MSP relationships–I may not have the complete picture here.) So Solupay is switching us to acquiring with WorldPay and processing via TSYS. (TSYS is because of the credit card software we use).

  • P Mracek

    Solupay are the preferred source for program that we use for managing clients in martial arts industry. They seem to be okay for businesses that operate in USA. They are not able however process credit cards for businesses that are operating outside of the USA by the looks of it. Contact Solupay directly several times and they confirmed not able to process credit cards from Australia; also they had no real plan to fix the issue. Seems pretty poor vision by Solupay for those outside of the USA and partner businesses to use software that doesn’t work internationally.
    Frustrated potential client.

  • D Marcroft

    We’ve been doing business with Solupay for several years now and have had prompt assistance on the few occasions we needed help. helped us locate them as a processor and we save 50k annually over our prior processor.

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