Agree with our rating?
Leave a comment below
YapStone Credit Card Processing 2023: Reviews & Complaints
Agree with our rating?
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. In 2019, YapStone partnered with Priority Technology Holdings (Priority), a leading provider of merchant-acquiring and commercial payment solutions. 2022 saw a further partnership with Sezzle to add buy-now, pay-later options to the company’s offerings.
YapStone was purchased in 2023 by Velo Payments.
Before we dive in, here’s a short summary of what we’ll cover:
- YapStone’s various payment processing services.
- The company has received an extremely large number of complaints, though many of them are from those making payments to it, not from merchants. The merchant complaints we’ve found often mention fund-holds or fraudulent charges.
- There is little public information about the YapStone contract.
YapStone Payment Processing
YapStone processes payments for travel and retail businesses specifically, processing all major credit cards, e-wallets, ACH, check-scanning, and cash by phone, mobile app, or text. They also offer loyalty programs, e-commerce solutions, processing of over 140 currencies, real-time payout, anti-fraud tools like step-up authentication and AVS and CVV checks, PCI and PSD2 certification, money transmitter licenses in required states and territories, payment reporting and analytics, and fully automated verification of individuals and businesses, including KYC, AML sanctions screening, and identity verification. They also offer customer support by phone or email in English, Spanish, German, French, Italian, Portuguese, and Dutch.
International Payment Solutions
With YapStone’s international payment solutions, businesses can expand their reach by accepting payments from customers around the globe. The company offers currency conversion services and supports a wide array of currencies, helping businesses tap into new markets and cater to a diverse customer base. This global approach enables businesses to grow and reach new heights.
Payment Facilitator Model
As a payment facilitator, YapStone offers unique benefits compared to other payment processors. This includes greater control and flexibility over payment processing, advanced technology, security underwriting, and fraud and compliance controls.
High Approval Rates
The company claims to have a 95% approval rate for transactions. They use cutting-edge technology and a rigorous underwriting process to ensure quick and secure transaction processing.
YapStone is Level 1 PCI-DSS compliant, meeting and exceeding the highest standards for data security set by the Payment Card Industry Data Security Standards (PCI DSS).
Platform Uptime and Chargeback Handling
The company emphasizes a 99.9% platform uptime and has a team dedicated to handling chargebacks, claiming an 80% win rate in disputed chargebacks.
Customizable Payment Solutions
YapStone offers customizable payment solutions tailored to the specific needs of each vacation rental business. This includes options for recurring billing, installment payments, and integration with most vacation rental platforms.
The company has a robust fraud prevention system that includes compliance checks and post-auth monitoring to protect sensitive payment data.
Location & Ownership
YapStone is located at 1990 N. California Boulevard, 8th Floor, Walnut Creek, CA 94596, and is a registered ISO/MSP of Wells Fargo Bank NA in Walnut Creek, California. Tom Villante and Matt Golis are co-founders of YapStone.
Table of Contents
- Costs & Contract: Appears to offer variable contract terms and pricing with…
- Complaints & Service: Complaints number more than 200 on…
- BBB Rating: Has an “A-” rating with the Better Business Bureau and has received…
- Sales & Marketing: Does not appear to hire independent sales representatives and has not…
YapStone Customer Reviews
Here's What Their Clients Say
|Total Online Complaints||200+|
|Live Customer Support||Yes|
|Most Common Complaint||Fund-Holds|
Rising Complaint Total
As of this update, we are able to locate more than 200 negative YapStone reviews, some of which describe the company as a ripoff. This number has skyrocketed over recent years. Clients 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. If you have a YapStone review to make, please do so in the comment section below.
Additionally, we located more than one YapStone complaint 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.
Yapstone Lawsuits and Fines
In April 2019, a lawsuit was filed against YapStone by Todd Feldman in regards to an alleged breach of contract. The case is ongoing and yet to reach a resolution.
In January of 2017, YapStone settled a class-action lawsuit 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.
In 2021, it appears that YapStone was sued by its partner, Priority Technology Holdings Inc., but at this time it is unclear what the suit concerns.
A further class-action suit was finalized against YapStone in 2022 by its former employees over missing payments.
YapStone has also been fined repeatedly for privacy and consumer protection violations.
Yapstone Customer Support Options
YapStone also offers a customer support form on its website and some customer service email addresses, but it no longer lists a phone number. 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 Online Ratings
Here's How They Rate Online
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 15 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 Vacation Rent Payment. As of this review, the company holds an “A-” rating with the BBB and has had 18 complaints filed against it in the last 36 months, considerably less than the 86 complaints at the time of a previous update. Of the 18 complaints, only 2 were resolved to the satisfaction of the complainant.
What Merchants Say
RentPayment has also received 8 negative informal reviews to its BBB profile. The most recent review describes poor service:
If I could do a **** star I would. This company is ridiculous. Their agents are untrained. Their system archaic. Cannot resolve issues with them because you cant get in touch with anyone. Lodging a BBB complaint. Do NOT use them with VRBO.
Excellent customer service is crucial to provide clients with to address issues that inevitably arise, making it an important consideration before executing a contract.
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.”
YapStone Fees, Rates & Costs
A Closer Look at The Contract
|Monthly & Annual Fees||Unclear|
|Processing Rates||Variable Per Transaction|
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 canceled at any time with 30 days’ notice. The YapStone 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 travelers—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 clients. We encourage business owners to check out our list of the providers of the best merchant services.
Most of the available YapStone complaints focus on its fraud prevention policies and its customer service rather than its pricing. The YapStone 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 client demographic) to experience delayed payouts or rolling reserves due to the card-not-present nature of their transactions. However, there is an alarming number of YapStone reviews that mention 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 clients have alleged that the company does not retain any advanced information about transactions after they have gone through, which makes it difficult for the business to contest a chargeback weeks after the fact. Without access to YapStone’s internal risk assessment tools, it’s hard to know what the company could be doing to help businesses 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 businesses, 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.
YapStone Employee Reviews & Sales Tacitcs
Should You Work For Them?
|Uses Independent Resellers||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 YapStone complaint alleging deceptive rate representation by the company when it went by the name Paymerica. This compares favorably to our list of best credit card processors.
RentPayment’s website does not appear to engage in any deceptive advertising tactics, but we have located some RentPayment complaints from customers expressing confusion about fee structures 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 clients 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 client 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.
Copyright © 2023 CardPaymentOptions.com, Inc. (Digital Fingerprint: 0d38c6720f0d78a701b74d58653af608). Getting paid to re-write this page? Click here to earn a reward.
Any unauthorized copying and reproduction of the content of this page, including all meta data and computer code, is strictly prohibited. While the information in the above article is believed to be accurate as of its publish date, the author and publisher make no representation or warranties with respect to the accuracy, applicability, fitness, or completeness of the contents. The author and publisher shall in no event be held liable to any party for any direct, indirect, punitive, special, incidental or other consequential damages arising directly or indirectly from any use of this material, which is provided “as is,” and without warranties. Any and all use of trade names and/or marks are for identification purposes only and shall not be construed as a claim of affiliation, or otherwise, with CardPaymentOptions.com, Inc. ("CPO") in any form. The sole purpose of the material presented herein is to alert, educate, and inform readers. It is not intended as legal or financial advice. We may earn revenue if you obtain services from a provider that we recommend. See this page to learn how we support our operations.