Swypit Reviews & Complaints

5
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How did they treat you? ▼

Overview

In this review of Swypit, we will provide a detailed overview of the company's payment processing solutions, including credit card processing, point-of-sale systems, and e-commerce services. We will discuss the pricing structure, contract terms, and customer feedback to give you a clear understanding of what Swypit offers. Additionally, we will examine the transparency of their fees, the quality of their customer support, and the overall satisfaction levels reported by their clients. By the end of this article, you will have a comprehensive understanding of whether Swypit meets your business's payment processing needs.

About Swypit

Swypit is a merchant account provider headquartered in Frisco, Texas. Founded in 2000, the company is a former reseller of another provider called Meridian Payment Systems, which was itself a reseller of NPC/Vantiv merchant services. Merchants should note that Meridian Payment Systems (Swypit's former backend processor) may or may not maintain a website at the domain meridianpaymentsystems.com. A Swypit representative has informed us that this company is not related to Swypit.

Swypit Payment Processing

Swypit processes all major debit and credit cards for most business types. Their services include EMV card readers and swipers, POS systems, e-commerce solutions, managing software, gift cards, and cash advances.

Swypit Customer Reviews

Here's What Their Clients Say

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

Clean Complaint Record

Our search across typical consumer protection websites has yielded no negative Swypit reviews, indicating a positive reputation and a lack of fraudulent activity. While there have been two complaints directed towards its former partner Meridian Payment Systems, they are notably dated and potentially misattributed. Swypit’s commendable record, especially considering its tenure of 15-19 years, reflects its commitment to customer satisfaction. If you have your own Swypit review, we welcome you to share it in the comment section below.

Swypit Lawsuits and Fines

There are no ongoing class-action lawsuits or FTC complaints against Swypit. Merchants seeking recourse for any issues are encouraged to report concerns to relevant regulatory bodies.

Swypit Customer Service Options

Swypit provides dedicated phone support for its merchants, facilitating prompt issue resolution. While commendable, this level of service does not elevate it to the status of a top credit card processor for customer service.

Swypit Customer Service Contact Information

  • (877) 379-9748 – Toll-Free Customer Support

Other Support Options

  • Customer support form on its website

Swypit Online Ratings

Here's How They Rate Online

Online Ratings Summary
Total BB Complaints 0
Complaints Resolved 0

Clean Complaint Record

Swypit currently maintains an “A+” rating with the Better Business Bureau and has been accredited since April 2013. The company is showing 0 complaints in the past 36 months. The BBB cites this clean complaint record as the primary factor raising Swypit’s grade.

An “A” Performance Overall

Given the company’s clean complaint record, we agree with the BBB’s rating. Merchants should be aware, however, that there are good reasons to be skeptical of the BBB’s reviews.

Swypit Fees, Rates & Costs

A Closer Look at The Contract

Cost & Fees Summary
Cancellation Penalties Yes
Monthly & Annual Fees Yes
Processing Rates 1.00% - 4.99%

Interchange-Plus Pricing

A representative from Swypit indicated that their standard contract entails a three-year commitment accompanied by an early termination fee of $275. The contract also includes an annual PCI compliance fee, which is $90 for terminals and $165 for software, along with interchange-plus pricing.

Swypit provides equipment to merchants at no extra cost, with the understanding that this equipment is returned upon termination of service. If the equipment is not returned, the cancellation fee is intended to cover the cost of the equipment, which presents a reasonable approach from the company’s perspective.

Virtual Terminal and Payment Gateway Pricing

In addition to storefront payment processing services, Swypit also offers virtual terminal and payment gateway services. Specific pricing for these services is not listed on their website. It’s probable that additional rates and fees, including gateway fees, technical support fees, batch fees, and extra transaction rates, are applicable to these e-commerce services.

No Swypit Contract Complaints

While there are no prevalent complaints about Swypit’s rates or fees, it is advisable for merchants to thoroughly understand all potential charges before engaging services. Due to the absence of significant negative feedback, Swypit is currently rated “A” in this category.

We recommend merchants also explore our compilation of the leading merchant account providers.

Swypit 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 Widespread Sales Issue

According to a company representative, Swypit primarily markets itself through referrals, traditional advertising, and independent sales agents. We have not found any Swypit reviews that accuse the company’s sales team of unethical sales tactics, but there is one very old complaint filed against Meridian Payment Systems that describes an issue with a sales agent. A company representative has stated that this complaint could not have been filed by a Swypit merchant because the company has never leased equipment through Northern Leasing Systems. Overall, there isn’t any negative feedback related to Swypit’s sales tactics.

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

No Misleading Advertising

In addition, the company does not engage in deceptive rate promotion in its official materials. If you suspect that Swypit’s sales team has added undisclosed fees to your account, we recommend seeking a third-party statement audit.

Our Swypit Review Summary

Our Final Thoughts

Swypit stands out as an exemplary merchant services provider according to our rating criteria. While specific pricing details are unavailable, there are no complaints online that raise concerns about Swypit’s sales tactics or customer service. Merchants are encouraged to carefully review their contracts and negotiate favorable terms, even with an “A” rated provider. To secure the best possible deal, they should also compare Swypit’s pricing to that of top-rated payment processors.

Location and Ownership

The company is a registered ISO/MSP of Fifth Third Bank, Cincinnati, Ohio; and Elavon, Inc. Georgia. Swypit is located at 3001 Dallas Pkwy #120b, Frisco, Texas 75034. According to the Better Business Bureau, Kevin Hodes is the president and CEO of Swypit.

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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 Swypit Treat You?

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Copyright

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