A Large International Payment Processor
WorldPay (worldpay.us) is a very large direct processor with an international presence in 40 countries, the largest of which is in the U.K. and Europe. Founded in 1989 under the name “Streamline” in the UK, the company’s name was changed to WorldPay a few years later. In 2001, WorldPay began to offer U.S. merchant accounts in Atlanta, Georgia. Shortly after, the company was bought by The Royal Bank of Scotland (RBS) and rebranded as RBS WorldPay. In 2010, RBS sold its controlling interest in the company and RBS WorldPay was rebranded back to just “WorldPay.”
Merged With Vantiv
Most recently, in mid-2017, Vantiv acquired WorldPay for $10 billion. The combined entity has since assumed WorldPay’s name and begun to consolidate its sub-brands into WorldPay. Philip Jansen is listed as the company’s CEO.
WorldPay Review Table of Contents
- Sales & Marketing: WorldPay hires independent sales agents and has received a high number of complaints about its sales practices.
- Costs & Contract: WorldPay offers a multi-year contract with a variable early termination fee.
- Complaints & Service: WorldPay has received more than 400 public complaints.
- BBB Rating: WorldPay has an “A+” rating with the Better Business Bureau and has received 190 complaints in the past three years.
- Rates & Fees: How Merchants Got The Best Rates With WorldPay
- Digital goods
Sales & Marketing
Key Points - Sales & Marketing
|Employs Independent Resellers||Yes|
|Advertises Deceptive Rates||No|
|Discloses All Important Terms||No|
A Global Sales Force
WorldPay markets its services both directly with its own inside sales staff and indirectly using independent sales agents, resellers, and sub-ISOs. This is a common strategy for the industry and usually leads to a moderate amount of complaints. In this case, we are able to locate hundreds of negative WorldPay reviews that describe nondisclosure or misrepresentation of fees by sales agents. These complaints cite all varieties of unexpected charges, including undisclosed termination penalties, higher-than-quoted rates, and unexpected monthly costs. If you suspect that you are being charged undisclosed fees, we recommend seeking a fee reduction analysis from an independent third party.
No Tricky Advertising
We found no uses of misleading advertising or rate quoting in the company’s official materials. Given WorldPay’s complaint volume and the regularity with which these complaints have been posted, however, we have assigned the company a “C” rating in this section.
WorldPay Marketing Example
Costs & Contract
Key Points - Costs & Contract
|Early Termination Fee||$95 To $495|
|PCI Compliance Fee||$15 To $25 Per Month|
|Equipment Lease Terms||Variable|
A Wide Range of Contract Terms
WorldPay’s pricing, rates, and fees will vary by merchant type and according to whether the merchant signed up for services through a reseller or directly through WorldPay. Based on a few reports, it appears that merchants are more likely to experience higher rates and longer service agreements by signing up directly with WorldPay instead of through a reseller. This is probably because the company gives resellers pricing and contract flexibility, which allows them to offer better deals to merchants if they choose to do so.
Three-Year Standard Contract
Merchants considering a WorldPay merchant account should read the company’s contract (available below) carefully because the standard service agreement is for three years with automatic one-year renewals if written notice is not given within 90 days of the service expiration. If merchants cancel while under contract they may experience a $95-$495 cancellation penalty. Additionally, the company appears to charge a PCI Compliance fee of $15-$25 per month, which is above average for the industry. Merchants are also reporting an annual fee of $69 for what looks like an IRS 1099 reporting fee.
Comparatively High Prices
The potentially high cancellation fee, auto-renewing contract, and high compliance fees are the factors that greatly lower the company’s rating in this section and prevent it from being an affordable merchant account provider. See the WorldPay Merchant Agreement.
Complaints & Service
Key Points - Complaints & Service
|Total Online Complaints||400+|
|Live Customer Support||Yes|
|Most Common Complaint||Hidden Fees|
High Complaint Total
There are hundreds of negative WorldPay reviews online, and many of these complaints accuse the company of being a ripoff or a scam. The most common types of complaints report unexpected fees and surprise over the $495 cancellation fee or auto-renewing contract (example here). There are also complaints regarding deceptive sales practices by agents, poor customer support, and fund holds. Merchants who have had their funds held by WorldPay may be better served by a high risk specialist.
Average Customer Service Performance
Company representatives have been active in responding to publicly filed complaints (including those in the comment section below this review), but it’s unknown whether the complainants ultimately receive satisfactory resolutions to their problems. It should be noted that many complaints may get attributed to WorldPay’s resellers instead of WorldPay itself and vice versa. In general, the company has a moderate number of complaints that follow very consistent themes, which warrants a “C” rating.
Key Points - BBB
|Product & Service Complaints||108|
|Billing & Collection Complaints||69|
|Advertising & Sales Complaints||12|
|Guarantee & Warranty Complaints||0|
Note: We have adjusted this company’s BBB rating according to our own standards. To better understand why we adjust BBB ratings, please see our Rating Criteria.
Over 175 Complaints
As of this review, the Better Business Bureau is showing that WorldPay received accreditation in 2010 and has an “A+” rating despite 190 complaints filed in the last 36 months. Of the complaints, 108 are due to problems with products and services, 69 are due to billing and collection disputes, and 12 have to do with advertising and sales issues. WorldPay has successfully resolved 45 of the complaints, while the remaining 145 either were resolved to the dissatisfaction of the merchant or did not receive a final assessment from the merchant.
What Merchants Say
The BBB has also received three informal customer reviews, two of which are negative in tone and one of which is neutral in tone. The most recent review is from a merchant who received poor customer service while switching her payment gateway:
I have never dealt with a worse customer service than with WorldPay. I have been working to get our club’s credit cards moved to a new software. The new software’s support has been trying to help as well for the last 2 months. The first month was an endless cycle of no communication in WorldPay sales, which we got transferred to initially, which made no sense, but that’s where we got transferred to. The sales rep didn’t understand what we needed, which I get, but it’s unfortunate that he couldn’t direct us to the correct department that could assist us. Instead, he wasted a month by stalling us and not talking to us until I finally spent some time on the phone angry with him and Platinum support. And I hate being that way! It’s not my goal to make others and myself feel like crap, but what am I supposed to do? Finally we were transferred to a new department, but guess what, still another month of waiting with no end as I watch May come to a close. I had a tech rep that was initially talking to me in their tier 2 tech department, but in the last week her communication has slowed and the deadlines given for completion passed with no explanation. She did manage to tell my new support though that there was a “miscommunication” with their developers (oh, that makes me feel confident). So, today, another call into Platinum support and I’m told a supervisor will contact me, but won’t be today…tomorrow. Boy, it’s tough to talk to a manager or supervisor there. And still no contact by this afternoon from the tech rep after 2-3 emails from myself and my new software company over the last few days for more info. The Platinum customer service rep told me today that they can’t pressure their developers and that if something more pressing comes up they will pause work on my project (don’t I just feel valued?). It’s insane how they are treating me and the new software company I am trying to move to. I can’t use my new software (point of sale), new website, nor drop my old point of sale all because I’m waiting on WorldPay. And anyone who has had to transition POS systems knows that you don’t just cancel your old one, you have to overlap them a bit, so guess who’s paying for 2 softwares…this girl’s family business. So, if you are considering a move to WorldPay for your merchant and gateway services, I’d recommend only doing so if you appreciate poor communication, time & money wasted, and stressful frustration. They will run you around till you feel like you’re the problem, but in reality it’s all them…their the issue. Other companies can do this type of secure move I need with much more efficiency and I regret having been a WorldPay customer for the last 6 years.
It appears that this business owner might have had a less frustrating experience with a recommended e-commerce provider.
A “C” Performance Overall
Considering the company’s complaint volume and resolution rate, we have adjusted the BBB’s rating to a “C” for the purposes of this review.
About Phillip Parker
Phillip Parker is a former merchant services sales agent who believes the industry has been overrun by people who engage in fraud and deception in order to steal from hard working business owners. He created this website to help you avoid the bad players, save money on fees, and to get peace of mind with your merchant account. If you would like to help support his work, learn more about our cost reduction service. We can evaluate your statement, tell you exactly how much you're overpaying, and then help you dramatically reduce your fees with your current credit card processor. Looking to switch instead? See our list of the best merchant account providers.Schedule a Consultation with Phillip