VeriPayment Credit Card Processing Reviews & Complaints

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4.3
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How did they treat you? ▼

Pros & Cons
Pros: Cons:
Convenience: Easy integration, user-friendly. Extra Work: Additional bookkeeping required.
Global Reach: Access international markets easily. Fees: Various transaction charges apply.
Security: Advanced fraud protection measures. Chargebacks: Potential for customer disputes.
Record Keeping: Efficient, accurate financial tracking. Security Concerns: Constant vigilance needed.
Customer Appeal: Preferred by many customers. Technology Costs: Initial and ongoing expenses.
Higher Revenue: Encourages more spending. Third-Party Dependency: Reliance on external services.
Overcharges Reported

Getting the lowest costs with VeriPayment?
Probably not.
>>> See what we are finding <<<

Overview

In this review of VeriPayment, we will provide a detailed overview of the company's credit card processing services. We will cover the range of services they offer, including point-of-sale (POS) systems, mobile payment solutions, and e-commerce capabilities. The review will identify the types of businesses that might benefit from these services. Additionally, we will examine client and customer reviews to highlight common trends and potential concerns. The article will also address the company's pricing structure, contract terms, and specific features provided. By the end of this review, you will understand whether VeriPayment meets your payment processing needs.

About VeriPayment

Founded in 2002, VeriPayment is a merchant account provider that specializes in providing e-commerce solutions for high-risk and international business types. The company is incorporated in the United Kingdom but also maintains offices in Latvia and Panama. VeriPayment maintains processing relationships with multiple acquiring banks across the globe.

VeriPayment Payment Processing

VeriPayment processes most major debit and credit cards, specifically focusing on high-risk businesses, offshore accounts, replica accounts, and pharmacy accounts. They offer online payments in multiple currencies, fraud prevention, real-time reporting, 7-day payouts, SSL encryption, a virtual terminal, backend integration, and web-based buy buttons. They are specifically targeted to international merchants.

Online Payment Gateway by VeriPayment

VeriPayment offers an online payment gateway service, allowing businesses to accept and process payments made through their websites. This service integrates with various e-commerce platforms, enabling online transactions.

Mobile Payment Processing with VeriPayment

With a focus on mobile payment processing, VeriPayment provides a solution that allows businesses to accept card payments using mobile devices. This is useful for businesses that operate outside traditional storefronts or engage in field transactions.

VeriPayment's Point of Sale (POS) Systems

In addition to online and mobile processing, VeriPayment provides POS systems for in-person transactions. These systems include both hardware and software components to manage transactions in a physical location effectively.

Overcharges Reported

Getting the lowest costs with VeriPayment?
Probably not.
>>> See what we are finding <<<

VeriPayment Customer Reviews

Here's What Their Clients Say

Customer Reviews Summary
Total Online Complaints <10
Live Customer Support Yes
Most Common Complaint N/A
Recent Lawsuits No

Understanding VeriPayment Customer Feedback

Online, VeriPayment reviews are sparse, with a few suggesting dissatisfaction. Common concerns include allegations of scam-like behavior, predominantly focusing on sudden account cancellations and lengthy holds on funds. While holding funds is a standard practice in cases of high chargeback ratios, the frequency of such complaints implies a need for VeriPayment to enhance its communication with clients. Those with experiences regarding VeriPayment’s services are encouraged to contribute their own reviews in the comments section.

Legal Concerns Involving VeriPayment

Our search did not reveal any current class-action lawsuits or FTC complaints against VeriPayment. Clients with unresolved disputes who prefer a non-confrontational approach may consider reporting their issues to relevant supervisory organizations as an alternative to legal action.

Customer Support Offered by VeriPayment

Despite a relatively low number of complaints, VeriPayment’s customer support seems to be a point of contention for some users. The company provides support primarily through email and Skype, suggesting a more digital-focused approach to customer service. Improvements in these areas could enhance client satisfaction.

VeriPayment Contact Information for Support

While these contact options are in place, a more robust and responsive customer support system could potentially improve the overall user experience with VeriPayment.

Overcharges Reported

Getting the lowest costs with VeriPayment?
Probably not.
>>> See what we are finding <<<

VeriPayment Online Ratings

Here's How They Rate Online

No Profile Available

The Better Business Bureau does not maintain a profile for VeriPayment at this time. Accordingly, we will not factor a BBB rating into this review.

VeriPayment Fees, Rates & Costs

A Closer Look at The Contract

Cost & Fees Summary
Cancellation Penalties Unclear
Monthly & Annual Fees Yes
Processing Rates Variable
Equipment Leasing Unclear

Higher Pricing for Higher Risk

VeriPayment’s disclosed pricing includes a transaction rate starting at 4.95% plus $0.65, along with a monthly maintenance fee of $40, a rolling reserve of 10%, and a chargeback fee of $45 per incident. Additionally, there’s information indicating a $299 setup fee on VeriPayment’s platform and from external reviews. While these rates are above the norm for standard business categories, they align with expectations for high-risk sectors. High-risk businesses may find more favorable rates by comparing their options based on their processing history and business tenure.

Fund-Hold Complaints

The fraud prevention policies of VeriPayment have led to grievances among some clients, particularly regarding sudden account closures and significant fund-holds. Challenges in promptly communicating with customer service exacerbate these issues, with reports suggesting the company’s offshore location complicates efforts to reclaim held funds. Such complaints underline the importance of understanding VeriPayment’s policies fully before engagement.

Some Cause for Concern

While there’s limited concrete evidence to substantiate claims about VeriPayment’s hold policies, the reported issues merit attention from potential clients. Those with firsthand experiences or detailed knowledge of VeriPayment’s standard contract terms, including any early termination or PCI compliance fees, are encouraged to share insights below. Businesses in search of merchant services are also advised to review our list of the top merchant account providers for potentially better alternatives.

Overcharges Reported

Getting the lowest costs with VeriPayment?
Probably not.
>>> See what we are finding <<<

VeriPayment Employee Reviews & Sales Tacitcs

Should You Work For Them?

Jobs & Marketing Summary
Uses Independent Resellers Yes
Telemarketing Likely
Misleading Marketing Yes
Discloses All Important Terms No

Outside Sales Team

VeriPayment appears to use an ISO program as well as traditional advertising to market its services. The use of ISOs is commonly linked to complaints within the credit card processing industry, but there are no VeriPayment reviews at this time that cite nondisclosure or misrepresentation by sales representatives. To the contrary, it seems that the company transparently quotes its prices, despite the fact that they are much higher than industry averages. This is likely due to the fact that VeriPayment primarily targets high-risk business types, who are accustomed to paying higher fees. In general, this compares favorably to our list of best credit card processors.

VeriPayment Rate Quotes

The VeriPayment “Rates” page quotes rates “as low as 4.95%” and per-transaction fees “as low as $0.65.” According to at least one user review of the company, these costs can climb as high as 9.25% plus $0.85 per transaction depending on a merchant’s volume. We consider this type of rate quote to be slightly misleading because it could give clients an unrealistic expectation of the rates they will pay. However, 4.95% plus $0.65 hardly qualifies as a “teaser” quote because it is much higher than industry averages. If you suspect that VeriPayment is overcharging you, you can double-check your monthly bill with a third-party statement audit.

Overcharges Reported

Getting the lowest costs with VeriPayment?
Probably not.
>>> See what we are finding <<<

Our VeriPayment Review Summary

Our Final Thoughts

VeriPayment rates as a better-than-average high-risk credit card processing provider according to our rating system. The company has maintained a relatively low complaint total over more than a decade in business, demonstrating a commendable track record in the high-risk merchant sector. However, potential clients should be aware of concerns related to its fund-holding policies and customer support, which have surfaced among some users. These issues warrant careful consideration, especially for businesses where cash flow consistency is critical.

It is essential for high-risk merchants to thoroughly review and negotiate these terms to avoid unexpected challenges. Additionally, businesses that believe they may qualify for standard-risk merchant accounts should explore options with top-rated standard-risk payment processors, as they typically offer better pricing and superior service. While VeriPayment stands out in the high-risk category, merchants must weigh their options carefully to ensure they receive the best possible terms for their specific needs.

Location & Ownership

The company is headquartered at 14 Crooms Hill, Greenwich, London SE10 8ER, United Kingdom. VeriPayment does not disclose the identities of its executive leadership on its website, but a few merchant complaints claim that Derbala Hish is the company’s owner.

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Overcharges Reported

Getting the lowest costs with VeriPayment?
Probably not.
>>> See what we are finding <<<

Testimonials & Complaints

How Did VeriPayment Treat You?

Overcharges Reported

Getting the lowest costs with VeriPayment?
Probably not.
>>> See what we are finding <<<

1 User Reviews

  • Greyson Louise

    VeriPayment has been a game-changer for my business! With their seamless and secure payment solutions, managing transactions has become a breeze. The user-friendly interface makes it easy for both my team and customers to navigate without any hiccups.

    Since switching to VeriPayment, our payment processing has become more efficient, saving us valuable time and resources. The peace of mind that comes with their top-notch security measures is truly priceless.

    Customer support is another area where VeriPayment shines. Their team is always ready to lend a helping hand, resolving any concerns promptly and professionally.

    I can confidently say that VeriPayment has elevated our business operations to a whole new level. If you’re looking for a reliable, efficient, and user-friendly payment solution, I wholeheartedly recommend VeriPayment. It’s a decision you won’t regret!

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Overcharges Reported

Getting the lowest costs with VeriPayment?
Probably not.
>>> See what we are finding <<<