SwipeWorks (swipeworks.com) is a merchant account provider headquartered in Milwaukee, Wisconsin. The SwipeWorks website states that the company is “powered by” First Data, which means that it is likely a reseller of First Data contracts. SwipeWorks, Inc. is a registered ISO/MSP of Wells Fargo Bank, N.A., in Walnut Creek, California, and is located at 5594 N. Hollywood Avenue, Suite 203, Milwaukee, Wisconsin 53217. Jeff Commer is listed as the owner of SwipeWorks.
- Sales & Marketing: SwipeWorks does not engage in misleading sales tactics and has not received public complaints about its sales team.
- Costs & Contract: SwipeWorks appears to offer a standard contract through First Data with interchange-plus pricing.
- Complaints & Service: SwipeWorks has received fewer than 10 public complaints.
- BBB Rating: SwipeWorks has a “C” rating with the Better Business Bureau and has received one complaint in the past three years.
- Rates & Fees: How Merchants Got The Best Rates With SwipeWorks
Sales & Marketing
Key Points - Sales & Marketing
|Employs Independent Resellers||Yes|
|Advertises Deceptive Rates||No|
|Discloses All Important Terms||No|
SwipeWorks appears to partner with independent sales agents to market its services. The use of independent sales agents is common throughout the industry and tends to be a source of merchant frustration, as these sales representatives can receive little training or regulation. SwipeWorks appears to be an exception, however, as we are unable to locate any negative SwipeWorks reviews that allege deception by the company’s sales team.
The company’s website advertises Interchange pass-thru pricing, which is the most transparent rate structure available. However, the company does not disclose its specific markup above interchange, and it does not offer any detailed explanation of how its Interchange-plus pricing model works. It is unfortunately common within the credit card industry for credit card processors to claim to offer “interchange,” “cost-plus,” or “pass-through” pricing but not actually provide that pricing model, and in this case, we are unable to verify whether SwipeWorks offers true Interchange-plus. Given the lack of complaints contradicting the company’s claims, we will not lower its grade, but we advise merchants to inquire as to the specific details of the company’s pricing structure.
Costs & Contract
Key Points - Costs & Contract
|Early Termination Fee||Variable|
|PCI Compliance Fee||Variable|
|Equipment Lease Terms||Variable|
As noted above, SwipeWorks claims to offer Interchange-plus pricing to its merchants, which is usually the most transparent and competitive rate structure available. We are currently unable to locate any specific terms of the company’s standard First Data contract, such as early termination fees, service lengths, PCI Compliance fees, monthly minimum fees, or other fees. Since First Data is a very large company, it likely offers a wide variety of potential contract terms depending on a merchant’s size, business type, and time in business. If you have any knowledge of the standard SwipeWorks contract, please leave that information in the comment section of this review.
Complaints & Service
Key Points - Complaints & Service
|Total Online Complaints||<10|
|Live Customer Support||Yes|
|Most Common Complaint||N/A|
We are currently unable to locate any SwipeWorks complaints that describe the company as a scam or a ripoff. This spotless complaint record indicates that the company employs a capable customer service staff to go with its seemingly competitive contract terms. An alternative explanation might be that SwipeWorks outsources its customer service to First Data, which could result in some SwipeWorks complaints getting funneled to the online profiles of the larger company. In the absence of any evidence that this is occurring, we are awarding the company an “A” rating in this category for the time being. The SwipeWorks website lists dedicated contact information for 24/7/365 customer support.
Key Points - BBB
|Product & Service Complaints||0|
|Billing & Collection Complaints||0|
|Advertising & Sales Complaints||1|
|Guarantee & Warranty 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.
SwipeWorks currently has a “C” rating with the Better Business Bureau and is not BBB-accredited. The company has received one complaint since the profile was created in August 2015. This complaint was classified as an advertising or sales issue, but the contents of the complaint describe a situation in which First Data held more than $20,000 of the merchant’s funds. SwipeWorks has not responded to this complaint at all, which the BBB claims is the primary factor lowering its score. By not responding to the complaint, SwipeWorks has earned a lower grade than an “A,” but since the issue is largely a First Data-related issue, we have adjusted the BBB’s rating to a “B” for the purposes of this review.
About Phillip Parker
Hi, I’m Phillip Parker and I believe that the merchant account industry has been overrun by people who engage in fraud and deception in order to steal from hard working business owners. I created this website to help you avoid the bad players, save money on fees, and get peace of mind with your merchant account. If you would like to help support my work, check out my cost analysis service. I can evaluate your statement and tell you exactly how much you're overpaying for your merchant account. Get more information here.Schedule a Consultation with Phillip
Related: Phillip’s Top All-Purpose Merchant Account Picks
Copyright & Disclaimer
Copyright © CardPaymentOptions.com, Inc. (Digital Fingerprint: 0d38c6720f0d78a701b74d58653af608). Getting paid to re-write this page? Click here to earn a reward.
Any unauthorized copying and reproduction of the content of this page, including all meta data and computer code, is strictly prohibited. While the information in the above article is believed to be accurate as of its publish date, the author and publisher make no representation or warranties with respect to the accuracy, applicability, fitness, or completeness of the contents. The author and publisher shall in no event be held liable to any party for any direct, indirect, punitive, special, incidental or other consequential damages arising directly or indirectly from any use of this material, which is provided “as is,” and without warranties. Any and all use of trade names and/or marks are for identification purposes only and shall not be construed as a claim of affiliation, or otherwise, with CardPaymentOptions.com, Inc. ("CPO") in any form. The sole purpose of the material presented herein is to alert, educate, and inform readers. It is not intended as legal or financial advice.