Online Payments for Many Different Sectors
Founded in 1999, YapStone is a global merchant account provider offering cloud-based web and mobile payment processing. Formerly known as “Paymerica,” Yapstone primarily offers payment processing solutions for property managers. Most notably, the company is a payment processing partner of growing vacation rental platforms like Homeaway and VRBO. There is some evidence that the company is an ISO of Chase Paymentech. YapStone offers multiple variations on its RentPayment processing platform, including VacationRentPayment, HolidayRentPayment, StorageRentPayment, InnPayment, DuesPayment, and ParishPay.
Yapstone Location and Ownership
Yapstone is located at 2121 N. California Boulevard, Suite 400, Walnut Creek, California, and is a registered ISO/MSP of Wells Fargo Bank NA in Walnut Creek, California. Tom Villante is the chairman and CEO of YapStone.
Yapstone Review Table of Contents
- Costs & Contract: YapStone appears to offer variable contract terms and pricing with strict cash reserve and chargeback policies.
- Complaints & Service: YapStone has received more than 50 public complaints.
- BBB Rating: YapStone has an “A+” rating with the Better Business Bureau and has received 0 complaints and 1 review in the past 3 years.
- Sales & Marketing: YapStone does not appear to hire independent sales representatives and has not received any complaints about its sales practices.
- Rates & Fees: How Merchants Got The Best Rates With YapStone
Types of Businesses Served
- Property management
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YapStone Rates, Fees, and Costs
|Online Payment Fee||$9.95 Per Transaction|
|Phone Payment Fee||$14.95 Per Transaction|
|Debit/Credit AutoPay Fee||$9.95|
|ACH/eCheck AutoPay Fee||$2.00|
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). This contract is a one-year term that automatically renews for a one-year term and may be cancelled at any time with 30 days’ notice. Yapstone’s client fee schedule reflects different fees for each supported payment channel. Online and automatic payments for credit and debit are charged $9.95. Phone Payments are charged $14.95. ACH/eCheck payments are assessed the same online and phone fees but only $2.00 for automated payments.
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 other fees charged to merchants.
Fund Holding Complaints
Most of the available complaints about YapStone focus on its fraud prevention policies and its customer service rather than its pricing. The complaints related to the company’s risk assessment team are split into two categories: complaints about withheld funds, and complaints about fraudulent payments making their way through YapStone’s systems. In the case of fund holds, it isn’t uncommon for rental companies (YapStone’s primary merchant demographic) to experience delayed payouts or rolling reserves due to the card-not-present nature of their transactions. However, there are an alarming number of complaints about fraudulent payments being made through YapStone’s rent payment services. While YapStone itself cannot prevent card theft, there are certain steps that any payment processor can take to minimize the likelihood of chargebacks.
Difficulty Contesting Chargebacks
Some YapStone merchants have alleged that the company does not retain any advanced information about transactions after they have gone through, which makes it difficult for the merchant to contest a chargeback weeks afterward. Without access to YapStone’s internal risk assessment tools, it’s hard to know what the company could be doing to help merchants on this front. However, it’s worth reporting that complainants consistently cite this as a major issue.
Yapstone’s actual pricing does not appear to be a major point of contention for most merchants, but the company does have a number of policies in place that are generating a lot of complaints. 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.Are you happy with your YapStone fees? Tell us about them before your go!
YapStone Complaints & Customer Reviews
|Total Online Complaints||50+|
|Live Customer Support||Yes|
|Most Common Complaint||Fund Holds|
Rising Complaint Total
As of this update, we are able to locate more than 50 negative YapStone reviews, some of which describe the company as a ripoff. This number has skyrocketed over the past year. Merchants primarily report slow payouts, failed payments, withheld funds, and poor support from YapStone with regard to renter disputes. When this review was first posted, most of the available complaints were from renters regarding YapStone’s RentPayment service. These complainants express confusion over the company’s policies, as well as irritation with having to pay fees in order to use their credit card.
Additionally, we located multiple complaints by current and former YapStone employees who describe a taxing work schedule and low workplace morale. However, these complaints have tapered off in recent months. The majority of Yapstone’s complaints have come from renters on VRBO and HomeAway who have had very negative experiences with YapStone’s risk team and customer support.
I January of 2017, Yapstone settled a class action lawsuits stemming from a data breach affecting the company. Personally identifiable information of its customers, including social security numbers, names, addresses, dates of birth, and passport numbers were exposed. The company settled the suit for $4.9 million.
Yapstone Customer Support Options
Yapstone offers dedicated phone support for each of its various sub-brands. The company’s sustained increase in complaints has lowered its score to a “D” and denied it a spot among the top-rated payment processors for great customer service.
YapStone BBB Rating Summary
Key Points - BBB
|Product & Service Complaints||37|
|Billing & Collection Complaints||47|
|Advertising & Sales Complaints||0|
|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.
85 Previously Filed Complaints
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. As of this review, the company holds an “A+” rating with the BBB and has had 0 complaints filed in the last 36 months.
However at the time of a previous update to this review in November of 2019, Yapstone had 86 complaints filed against it. Of the complaints, two were filed regarding an advertising and sales issue, 39 were in relation to problems with products or services, 45 stemmed from billing issues, and two were related to delivery. RentPayment successfully resolved 27 complaints, while 59 complaints either were resolved to the merchant’s satisfaction or did not receive a final response from the merchant.
What Merchants Say
RentPayment has also received 1 negative informal review to its BBB profile. The most recent review describes an unusual clerical error:
Whether fraud or a clerical error, the company issued an erroneous 1099 form in my name. I have never done business with, nor heard of the company. I have contacted the company numerous times for a correction and have never received a callback. This company is irresponsible and uncommunicative. The IRS will be investigating the case.
A “D” Performance
Given the company’s rapidly increasing complaint total and poor resolution ratio, we have adjusted the BBB’s rating to a “D.”
Truth In Marketing & Advertising
|Employs Independent Resellers||No|
|Advertises Deceptive Rates||No|
|Discloses All Important Terms||No|
Inside Sales Team
YapStone appears to market its products through a combination of strategic partnerships, 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. Many of these complainants do not appear to be business owners, so it is unlikely that merchants are experiencing similar difficulties understanding their agreements.
No Direct Marketing
In general, most users seem to encounter YapStone for the first time as the backend processor for their VRBO or HomeAway accounts. This means that YapStone doesn’t directly market to these users, so there’s little to evaluate in terms of its sales approach. The available descriptions of YapStone’s direct sales process are mixed in tone, but the sales department’s overall impact on the merchant experience appears to be limited. If you suspect that Yapstone’s sales team has added undisclosed fees to your account, we recommend seeking a third-party statement audit.
YapStone 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.