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.
- Property management
Sales & Marketing
Key Points - Sales & Marketing
|Employs Independent Resellers||No|
|Advertises Deceptive Rates||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.
Costs & Contract
Key Points - Costs & Contract
|Early Termination Fee||Variable|
|PCI Compliance Fee||Variable|
|Equipment Lease Terms||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.
Complaints & Service
Key Points - Complaints & Service
|Total Online 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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Key Points - BBB
|Product & Service Complaints||8|
|Billing & Collection Complaints||16|
|Advertising & Sales Complaints||2|
|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.
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+.”
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About Phillip Parker
Phillip Parker is a former merchant services agent turned small business advocate and the author of "Fee Sweep," which teaches merchants how to dramatically lower their processing rates, eliminate junk fees, and avoid fine-print scams. He founded CardPaymentOptions.com to help merchants enact positive change in the credit card processing industry. Schedule a Consultation with PhillipSchedule a Consultation with Phillip