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Unique Merchant Solutions Review: Fees, Complaints & Lawsuits
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Note: Unique Merchant Solutions has changed its name to Unique Payment Tech. There may be more changes in addition to the name change, so we will be producing a new review for Unique Payment Tech soon.
Specializing in CBD Merchant Accounts
Launched in 2019, Unique Merchant Solutions (uniquemerchantsolutions.com) is a merchant account provider that serves both standard and high-risk businesses. The company appears to be a subsidiary or DBA of Quantum Merchant Services, but we are unable to verify the connection between the two entities at this time. It also resells Clover point-of-sale products. Unique Merchant Solutions is one of only a small number of U.S.-based companies that actively advertises its ability to offer CBD and hemp merchant accounts.
Unique Merchant Solutions Location & Ownership
Unique Merchant Solutions is headquartered at 8251 NW 8th St, Miami, Florida 33126, and does not list its acquiring bank. Yesenia Medrano is the registered agent for Unique Merchant Solutions.
Unique Merchant Solutions Review Table of Contents
- Costs & Contract: Unique Merchant Solutions appears to offer variable contract terms depending on each merchant’s business type, size, and processing history.
- Complaints & Service: Unique Merchant Solutions complaints number fewer than 10 on public complaints forums.
- BBB Rating: Unique Merchant Solutions currently does not have a profile with the Better Business Bureau.
- Sales & Marketing: Unique Merchant Solutions does not appear to hire independent sales agents and has not received any complaints about its sales practices.
Unique Merchant Solutions Customer Reviews
Here's What Their Clients Say
|Total Online Complaints||<10|
|Live Customer Support||No|
|Most Common Complaint||N/A|
No Public Complaints
We are currently unable to locate any Unique Merchant Solutions reviews that accuse the company of being a ripoff or a scam. In fact, the credit card processor is showing only positive reviews across various consumer protection websites. This seems to indicate that Unique Merchant Solutions employs a proactive and available customer support team. If you have your own Unique Merchant Solutions review to make, please do so in the comments below.
Unique Merchant Solutions Lawsuits
We have not found any outstanding class-action lawsuits or FTC complaints filed against Unique Merchant Solutions. Dissatisfied merchants who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations.
Unique Merchant Solutions Customer Service Options
The Unique Merchant Solutions website provides a customer support email address but does not list a dedicated customer support number. We will award Unique Merchant Solutions an “A” rating in this category, but the company’s current customer support options do not qualify it as a top-rated customer service processor.
Unique Merchant Solutions Online Ratings
Here's How They Rate Online
No Profile Available
The Better Business Bureau does not maintain a profile for Unique Merchant Solutions at this time. We therefore will not factor a BBB rating into this review.
Unique Merchant Solutions Fees, Rates & Costs
A Closer Look at The Contract
|Swiped Rate||1.00% - 4.99%+|
|Keyed-In Rate||1.00% - 4.99%+|
|Early Termination Fee||Variable|
|PCI Compliance Fee||Variable|
|Equipment Lease Terms||Variable|
Unique Merchant Solutions Contract Terms
There is no publicly available information about the standard Unique Merchant Solutions contract at this time. It is likely that the company customizes its pricing and terms according to each merchant’s business type, location, and processing history. The company’s wide range of preferred merchant types means that it could offer long-term equipment leases for certain merchants’ needs.
Quantum Merchant Services Contract Terms
Although we are unable to verify that Unique Merchant Solutions has a connection to Quantum Merchant Services, it is worth including Quantum’s standard pricing to give the most comprehensive coverage possible. According to the company’s merchant agreement, Quantum Merchant Services offers a standard contract of three years with a $445 early termination fee, a $99 annual fee, a monthly minimum fee of $25, and a $10 statement fee. These terms are slightly more expensive than industry averages, but there may be some room for negotiation depending on the agent setting up the account.
Higher Risk, Higher Fees
Companies that process payments for CBD vendors often charge higher rates due to the elevated risk of chargebacks in the CBD sector. CBD merchants who work with Unique Merchant Solutions should therefore expect to pay higher per-transaction rates compared to standard-risk merchants. There is also a chance that Unique Merchant Solutions may require a cash reserve in order to shield itself from chargeback losses.
No Red Flags
The total absence of complaints about the company’s contract terms merits an “A” in this category, but it should be noted that we are assigning this grade without any verified knowledge of specific pricing. It is difficult to assess at this time whether Unique Merchant Solutions’ contract terms are competitive with the cheapest merchant accounts. Still, we also encourage merchants to check out our list of the providers of the best merchant accounts.
Unique Merchant Solutions Employee Reviews & Sales Tacitcs
Should You Work For Them?
|Employs Independent Resellers||No|
|Advertises Deceptive Rates||No|
|Discloses All Important Terms||No|
Inside Sales Team
Unique Merchant Solutions appears to rely entirely on its in-house staff to market its services. There is no evidence at this time indicating that the company employs independent sales agents, and we are unable to locate any Unique Merchant Solutions reviews that report unethical behavior by the company’s sales staff. This compares favorably to our list of best credit card processors.
No Misleading Quotes
Unique Merchant Solutions does not appear to engage in any deceptive advertising strategies in its official materials. If you suspect that Unique Merchant Solutions is charging you undisclosed fees, we recommend seeking a third-party statement audit to eliminate hidden charges.
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