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UniBul Merchant Services Review: Fees, Complaints & Lawsuits
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UniBul Merchant Services is a merchant account provider that specializes in payment processing for high-risk business types. Founded in 2007, the company does not list an acquiring bank on its website, but it is likely partnered with a number of backend processors and acquirers in order to serve its international and high-risk merchants. One of these backend processors appears to be First Data (now Fiserv), and there are some sources that list the company’s acquiring bank as Wells Fargo.
UniBul Merchant Services Payment Processing
UniBul Merchant Services processes all major debit and credit cards for most business types. Their services include in-store solutions, e-commerce, and MOTO.
Point of Sale Systems by UniBul Merchant Services
Another service offered by UniBul Merchant Services is their sophisticated Point of Sale (POS) systems. These systems help streamline business operations, including payment processing, inventory management, and sales tracking, hence enhancing the overall efficiency of the business process.
UniBul Merchant Services’ Online Payment Gateway
For businesses that operate primarily online, UniBul Merchant Services offers a comprehensive online payment gateway service. This service empowers e-commerce businesses to carry out secure, quick credit card transactions, which is pivotal in ensuring a seamless online shopping experience for their customers.
Mobile Payment Solutions from UniBul Merchant Services
UniBul Merchant Services recognizes the growing trend of mobile commerce and therefore provides mobile payment solutions. Their mobile card readers enable businesses to accept and process credit card payments on-the-go, facilitating transactions outside traditional brick-and-mortar environments.
Transaction Security with UniBul Merchant Services
UniBul Merchant Services prioritizes the security of transactions by employing stringent security measures and advanced encryption technologies. These measures safeguard sensitive cardholder information and ensure secure transaction processing.
Location & Ownership
UniBul is headquartered at 71 Commercial Street Suite 110, Boston, Massachusetts. Metodi Slavenov is listed as the founder and CEO of UniBul Merchant Services.
Table of Contents
UniBul Merchant Services Customer Reviews
Here's What Their Clients Say
|Total Online Complaints||<10|
|Live Customer Support||Yes|
|Most Common Complaint||N/A|
Low Complaint Total
We have located only one negative UniBul Merchant Services review on the usual consumer protection websites, which is a good indicator that the company does not scam or rip off its clients. This UniBul Merchant Services complaint describes difficulty reaching a customer support representative and also suggests that the company’s standard support line is unable to assist with specific account details. It is countered by a positive UniBul Merchant Services review on that same website as well as a large number of unverified positive testimonials on the UniBul website. We are therefore inclined to regard it as an isolated incident.
UniBul Merchant Services Lawsuits and Fines
We have not found any outstanding class-action lawsuits or FTC complaints filed against UniBul Merchant Services. Dissatisfied clients who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations.
UniBul Merchant Services Customer Support Options
UniBul does not list a dedicated phone support number, but it does offer a few departmental email addresses for clients. It also offers a customer support form. It is unclear at this time whether the company’s support line goes directly to UniBul or is instead routed to the company’s backend processors. In any case, UniBul’s low complaint total suggests that merchants may receive a customer support experience on par with those offered by top-rated payment processors for great customer service.
UniBul Merchant Services Customer Service Email
UniBul Merchant Services Online Ratings
Here's How They Rate Online
Clean Complaint Record
UniBul Merchant Services currently has an “A+” rating with the Better Business Bureau and is not accredited. The company has received 0 complaints in the past 36 months. It has also received 0 informal reviews on its profile, although it’s worth noting that these reviews are not always subject to BBB verification.
An “A” Performance
In light of the company’s clean complaint record, we agree with the BBB’s rating. However, readers should be aware that there are good reasons to be skeptical of the BBB’s rating system.
UniBul Merchant Services Fees, Rates & Costs
A Closer Look at The Contract
|Monthly & Annual Fees||Yes|
|Processing Rates||1.00% - 4.99% or Interchange-Plus|
Variable Contract Terms
There is very little publicly available information about the standard UniBul contract at this time. The company does not disclose whether it charges a PCI compliance fee or an early termination fee, and it is unclear whether it offers month-to-month or multiyear contracts. We found one complaint that mentioned a PCI compliance fee of $99, but it’s possible that this amount may vary.
UniBul Per-Transaction Fees
It seems that UniBul offers both tiered pricing and interchange-plus pricing but it emphasizes interchange-plus pricing for most of its clients. According to the company’s blog, a reasonable interchange-plus rate for a storefront (card present) business is approximately 0.35% plus $0.15 per transaction, while the same business should not pay more than 1.69% plus $0.25 for Qualified credit card transactions under a tiered pricing plan. UniBul also states that maintenance or statement fees should not exceed $10.
Virtual Terminal and Payment Gateway Pricing
In addition to its storefront payment processing services, Unibul 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. Additional rates and fees, including gateway fees, technical support fees, batch fees, and additional transaction rates typically apply to these e-commerce services.
Pricing Varies According to Risk
It is likely that UniBul keeps the details of its pricing vague at least in part to give it some flexibility when setting pricing for high-risk business types. High-risk businesses typically pay higher rates in order to compensate for the perceived risk associated with their business types. For this reason, clients should expect their UniBul rates and fees to vary significantly depending on their processing histories and the products they sell. To UniBul’s credit, we cannot find any negative UniBul Merchant Services reviews that mention excessive fees or unreasonably high pricing. If you have any specific knowledge of the standard UniBul contract, please share that information in the comment section below this review.
We also encourage business owners to check out our list of the providers of the best merchant accounts.
UniBul Merchant Services Employee Reviews & Sales Tacitcs
Should You Work For Them?
|Uses Independent Resellers||No|
|Discloses All Important Terms||No|
Inside Sales Team
UniBul appears to primarily utilize traditional advertising and strategic partnerships to market its services. There is no indication at this time that the company engages in “hiring mill” practices or aggressive telemarketing campaigns. There are also no UniBul Merchant Services reviews online that describe nondisclosure or misrepresentation by UniBul sales agents.
This compares favorably to our list of best credit card processors.
Previous UniBul Rate Quotes
UniBul’s website and public press releases provide conflicting information regarding the company’s pricing. Its former “Rates and Fees” page, which is no longer accessible, listed four different UniBul Merchant Services rates for retail, e-commerce, MOTO, and wireless businesses. These rates appeared to be Qualified “teaser” rates, as they listed flat fees without also showing the Mid-Qualified and Non-Qualified rates that clients will pay on the majority of their transactions. If you suspect that some UniBul Merchant Services fees are hidden in your contract, you can double-check your monthly bill with a third-party statement audit.
Other UniBul Rate Quotes
Normally, we would lower the company’s grade for posting incomplete quotes on its website. However, in other resources offered by the company (including this press release and this breakdown of credit card rates) the company actively promotes interchange-plus pricing and clearly outlines why it is more affordable than tiered pricing in most cases. After surveying these resources and announcements, it seems most likely that the company primarily offers interchange-plus and has simply not removed the tiered pricing quotes from its website. Based upon this favorable assumption, we will give UniBul an “A” rating for the time being.
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