A BluePay Subsidiary
Founded in 2005, VersaPay is a Canadian merchant account provider specializing in electronic invoicing services. The company’s primary service is a proprietary accounts receivable management system, but it also offers payment processing for U.S. and Canadian merchants. In February 2017, BluePay acquired VersaPay’s entire merchant services portfolio, meaning that VersaPay merchants will use BluePay’s products and services to accept credit card payments.
VersaPay Location and Ownership
VersaPay is headquartered at 18 King St E, Toronto, Ontario M5H 1A1, Canada, and Craig O’Neill is listed as the CEO and director of VersaPay.
VersaPay Review Table of Contents
- Costs & Contract: VersaPay appears to offer variable contract terms through BluePay.
- Complaints & Service: VersaPay has received fewer than 10 public complaints.
- BBB Rating: VersaPay has an “A+” rating with the Better Business Bureau and has received 0 complaints in the past 3 years.
- Sales & Marketing: VersaPay does not appear to hire independently contracted sales agents and has received very few complaints about its sales team.
- Rates & Fees: How Merchants Got The Best Rates With VersaPay
Types of Businesses Served
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VersaPay Rates, Fees, and Costs
|Swiped Rate||2.39% + $0.25|
|Keyed-in Rate||2.99% + $0.20|
|Mobile Payment Rate||2.59% + $0.15|
|Early Termination Fee||None|
|PCI Compliance Fee||$99|
|Equipment Lease Terms||Undisclosed|
The standard VersaPay terms and conditions detail a payment processing agreement that can be canceled at any time without an early termination fee. It is likely that the merchant account referred to therein is a BluePay contract. Merchant reviews of Bluepay reflect a fee structure of 2.39% plus $0.25 and 2.99% plus $0.20 for keyed-in transactions. BluePay also charges an annual PCI compliance fee of $99.
The page for VersaPay’s mobile payment solution advertises a per-transaction fee of 2.59% plus $0.15 per transaction but does not elaborate on any other costs or contract terms. It is also probable that rates and fees may be subject to variation depending on a merchant’s size, business type, and time in business.
Not Just Online Invoicing
In addition to its online software and mobile products, VersaPay does offer POS equipment, so merchants should be aware that any equipment leases that accompany their merchant services may have unique contract terms. At this time, there are no online complaints about VersaPay’s costs, indicating that the company’s pricing may be competitive with even the cheapest merchant accounts. If you have any specific knowledge of the standard VersaPay contract, please share that information in the comment section of this review.Are you happy with your VersaPay fees? Tell us about them before your go!
VersaPay Complaints & Customer Reviews
|Total Online Complaints||<10|
|Live Customer Support||Yes|
|Most Common Complaint||N/A|
Low Complaint Total
We are currently able to locate four VersaPay negative reviews, none of which accuse the company of being a ripoff or a scam. One complaint was posted in 2010 and mentioned difficulty with setup and undesirable pricing. The remaining three complaints have been posted by current or former employees and cite a disorganized, unsupportive work environment. Given the general lack of merchant complaints about the company, these internal issues do not appear to affect the service offered by VersaPay, and they are not being counted against the company.
Versapay Services Lawsuits
We have not found any outstanding class-action lawsuits or FTC complaints filed against Versapay. Dissatisfied merchants who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations.
VersaPay Support Options
The VersaPay website offers email support and an FAQ section as well as phone numbers for different locations, and these channels seem to be successful at resolving merchant complaints in-house. VersaPay’s support team operates at a level that is comparable even to top-rated merchant account providers for great customer service.
VersaPay BBB Rating Summary
Key Points - BBB
|Product & Service Complaints||0|
|Billing & Collection Complaints||0|
|Advertising & Sales Complaints||0|
|Guarantee & Warranty Complaints||0|
Clean Complaint Record
VersaPay is not accredited with the Better Business Bureau and is currently showing a grade of “A+” based on 0 complaints in the last 36 months. VersaPay has not received any negative informal reviews either.
An “A” Performance
Given the company’s complaint total, we agree with the BBB‘s rating at this time. Merchants should note, however, that there are reasons to be skeptical of BBB ratings.
Truth In Marketing & Advertising
|Employs Independent Resellers||No|
|Advertises Deceptive Rates||No|
|Discloses All Important Terms||No|
Outside Sales Team
VersaPay appears to rely on strategic partnerships and a team of outside sales agents to market its services. We have found only one negative VersaPay review that mentions unethical tactics by the company’s sales team, and in this case the merchant experienced unexpected difficulties with setup and an undisclosed termination fee in 2010.
No Deceptive Quotes
As a point in its favor, the company does not appear to engage in deceptive advertising strategies in its official materials. Given VersaPay’s low number of complaints, we are awarding VersaPay an “A” in this category for the time being. If you are concerned that VersaPay is overcharging you, we recommend seeking a third-party statement audit to eliminate hidden fees.
VersaPay Marketing Example
About Phillip Parker
Thank you for reading my review. I hope that it has helped you with your research.
Why I'm Qualified to Write About Credit Card Processing and Merchant Account Services
I'm a former credit card processing sales director who left the industry because I didn't like how it takes advantage of small business owners. It feeds like a leech on businesses and thrives by imposing fees that are nearly impossible to comprehend. Seeing a need for change, I left and built this website help business owners better understand the industry, research merchant services providers, and get refunds of excessive merchant account fees. My experience of working "behind the curtain" in the industry, and using that knowledge for good, has resulted in millions of dollars returned to hard-working small business owners as well as enterprise-level companies.
From the time that I starting working in the merchant services industry to when I left to create this website, I've been on the pulse of payments for nearly 15 years. It didn't seem fair to keep this "insider" knowledge to myself. To lift the fog, I've reviewed hundreds of companies, read thousands of user reviews, and learned the pricing tricks of every provider. If you have questions about credit card processing, you can find the answers on this website.