YapStone Review

8 Replies

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YapStone Logo
Category Breakdown
Sales & Marketing rated A
Costs & Contract rated A
Complaints & Service rated B
BBB Rating rated B plus

Overall Rating

A rating


Overview

YapStone Logo

YapStone Logo

YapStone Inc. (yapstone.com) is a global merchant account provider offering cloud-based web and mobile payment processing. There is some evidence that the company is an ISO of Chase Paymentech. Formerly known as Paymerica, YapStone was founded in 1999 and primarily serves the housing and non-profit industries. Most notably, the company is a payment processing partner of growing vacation rental platforms like Homeaway and VRBO. YapStone offers multiple variations on its RentPayment processing platform, including VacationRentPayment, HolidayRentPayment, StorageRentPayment, InnPayment, DuesPayment, and ParishPay. Yapstone is located at 2033 N. Main St., Walnut Creek, California 94596 and is a registered ISO/MSP of Wells Fargo Bank NA in Walnut Creek, California. Tom Villante is listed as the chairman and CEO of Yapstone.

YapStone Products and Services

  • Debit and credit card processing
  • ACH processing
  • Online payment gateway
  • Virtual terminal
  • Payment acceptance via mobile app, email, text message, or phone
  • Integrated payment API

Industries served:

  • Property management
  • Lodging
  • Storage
  • Non-profit

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Sales & Marketing | A

Key Points – Sales & Marketing
Uses independent resellers? No
Promotes deceptive rate quotes? No
Discloses all important terms? No

YapStone appears to market RentPayment through a combination of telemarketing and inside sales agents. At this time, YapStone does not appear to employ independent sales agents. We are also unable to locate any negative YapStone reviews that mention the company’s sales team at this time, although we did find one complaint alleging deceptive rate representation by the company when it went by the name Paymerica. RentPayment’s website does not appear to engage in any deceptive advertising tactics, but we have located some complaints from RentPayment customers expressing confusion about fee structure and how to schedule payments through the service, which occasionally led to overcharges. These complainants do not appear to have been using the service as business owners, so it is unlikely that merchants are experiencing similar difficulties understanding their agreements.

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Costs & Contract | A

Key Points – Costs & Contract Terms
Swiped rate: Variable
Keyed-in rate: Variable
Termination fee: Variable
PCI compliance fee: Variable
Equipment lease: Variable

As of this update, the standard YapStone contract terms are unclear. We have located one sample YapStone contract (from the company’s homeowner’s association-oriented subsidiary, DuesPayment) and included a link to it below. This contract is a one-year term that automatically renews for one-year terms and may be cancelled at any time with 30 days’ notice. The company also appears to collect its processing fees from homeowners, renters, and travellers—in other words, the people making the payments—rather than business owners. This is an uncommon pricing model for the industry, and it’s possible that a separate agreement outlines the service’s costs to merchants.

We are unable to locate any RentPayment complaints that specifically complain about the contract terms at this time, indicating that most of the company’s clients are satisfied with their rates and fees. One old complaint filed against Paymerica mentions an undisclosed two-year service length with an early termination fee of $250, but these terms have likely changed since then. If you have any knowledge of the standard YapStone merchant agreement (including any possible termination fees or PCI Compliance fees), please leave that information in the comment section of this review.

See the YapStone Merchant Agreement

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Complaints & Service | B

Key Points – Complaints & Service
Total complaints: 10+
Live customer support: Yes
Most common complaint: Fund holds

As of this update, we are able to locate a handful of YapStone merchant complaints, some of which describe the company as a ripoff. These merchants report slow payouts, withheld funds, and poor support from YapStone with regard to renter disputes.

Most available complaints about the company, however, have been posted by renters regarding its RentPayment service. These complainants express confusion over the company’s policies, as well as irritation with having to pay fees in order to use a credit card to pay their rent. These issues should not affect rental industry merchants beyond the possibility that their tenants might be dissatisfied with the service. Additionally, we have located multiple complaints by current and former YapStone employees who describe a taxing work schedule and low workplace morale. Like the renter complaints, these issues may only indirectly affect merchants, as unhappy employees tend to provide subpar service. Overall, though, YapStone has a fairly low complaint rate and does not appear to provide poor service to merchants.

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BBB Report | B+*

Key Points – BBB Report
Product/service: 8
Billing/collection: 16
Advertising/sales: 2
Guarantee/warranty: 0
Delivery: 0

YapStone Inc. is not an accredited business with the Better Business Bureau. As of this review, the company’s profile appears to have been combined with that of RentPayment and shows an “A+” rating. The company has had 26 complaints filed against it in the last 36 months. Of the complaints, two were filed regarding an advertising and sales issue, eight were in relation to problems with products or services, and the remaining 16 stemmed from billing and collection disputes. YapStone successfully resolved 24 of the 26 complaints, but two complainants report being dissatisfied with the company’s response despite what the BBB determines was a good-faith effort by YapStone. Given the information available, we have slightly adjusted the BBB’s rating to a “B+.”

* Denotes CPO-adjusted BBB score

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Bottom Line


YapStone Review

Rated 4.1 out of 5 Stars
Reviewed by Phillip Parker
Reviewed on 2015-04-13

YapStone rates as a reliable merchant account provider according to our system. We do not currently have a great deal of specific information about the company’s contract terms, but YapStone and its RentPayment platform are showing a low-to-moderate amount of public complaints online. Many of these complaints are only loosely tied to the company’s merchant services offerings. Even when dealing with a highly rated company, merchants are advised to carefully examine all contract terms presented to them.

This review was originally published on 2/8/13 and was last updated on 4/13/15.

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8 comments

  1. Geno Johnson

    This is a TERRIBLE company. My experience with them echoes other complaints I have now found about them. They’re hooked up with VRBO and Homeaway and they are certainly guilty by association. They’ll take your renters payment alright, but good luck getting the funds due you. They will offer up everyu excuse you could ever imagine and the best one is “they are really overloaded with requests” Go figure! People want to get paid for what’s coming to them. this practice of theirs will likely not change until a state brings suit against them. Perhaps under violation of truth in lending laws.

  2. John

    The company hold my guest’s payment without any notice or reason. Called customer service department many times, and no one can give me a reason, just told me they have filed a ticket already, any would contact me once they got the feedback from other department. it is a terrible company. Is there anyway I can get my money back quickly.

  3. Nichole Adams

    This company accepts payments for Homeaway, they mis represent how long it will take to get your funds. I had a guest stay in November and my funds have not been released as of December 17. I was told they hold the funds for 30 days. The real ease the funds another 7 days later. I contacted them asking what I could to expedite the payment I was told I could. Have credit check through their company. I did that then I was told that was for another program they had and my funds will not be released. Very deceptive…. If you have other choices please use another provider. Pay pal , square what ever do not use this option on homeaway or vrbo.

  4. Leslie Walker

    This company will not properly represent you if you have a client dispute charges on their credit card. I had a “guest (Tim Conrad ) check in to my rental property who agreed online at the time of booking and again upon arrival in writing that there were no pets and no more than 6 people to be on the property. Shortly after checking in, he had 9-10 dogs in my house and 9 people! I provided the contract as well as photos of the dog pooping in my yard and the extra people and Yapstone allowed his credit card company to take my funds back because we asked them to leave. I lost the income from a fourth of July rental as well as having to pay $200 to have the house cleaned since they had already been all over the beds and the house. I would like to know who would allow someone to stay in their home with 9-10 dogs and 9 people rather than the agreed upon 6.

  5. Bryan

    This company will take your funds from you paying guests for a vacation rental and not release them to you for extended periods of time as in weeks. I would highly recommend not using yapstone in Walnut Creek California but using a different merchant banking service with reputable practices such as Costco credit card merchant processing or directly with a bank such as Wells Fargo or US Bank that does credit card merchant processing.

  6. Harrington

    Their website provides dark-pattern. It NEVER shows how much you have to pay for the service until you waste a lot of time entering your personal information and credit card information.
    At the last minute, it tells you that you have to pay over $16 dollars to make a payment.

    WHY NOT PUT THAT INFORMATION RIGHT ON THE FIRST PAGE OF THE WEB SITE?

    I would not recommend this site. Stay way from it.

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