Dynamic Payment Solutions is a private company and currently, they are known to specialize in financial services. Based on current findings, the website of Dynamic Payment Solutions has been inactive or non-operational for a long time. Due to this, there is no proof that the company is operating at this point in time. Anyhow, our team of experts tried to do a thorough Dynamic Payment Solutions Review to understand what the company was.
An Overview of Dynamic Payment Solutions
Dynamic Payment Solutions is a payment processing solution provider which was introduced in 2004. Dynamic Payment Solutions also serves to be a merchant account provider and they handle merchant accounts for both small as well as mid-sized businesses. The website of Dynamic Payment Solutions has been regarded as the division of Vision Bankcard. At the same time, Dynamic Payment Solutions is also regarded as the reseller of Global Payments.
Ownership & Location of Dynamic Payment Solutions
The headquarters of Dynamic Payment Solutions are at in Provo, Utah. In addition to that, Dynamic Payment Solutions is a registered ISO or MSP for Deutsch Bank in New York. Currently, Jeff Knowles is the CEO of the company, and is also the CEO of Vision Bankcard. If you wish to contact Dynamic Payment Solutions, Better Business Bureau (BBB) has listed Joe Emig to serve the point of contact.
Dynamic Payment Solutions Review Based on Services
- Online Reporting Tools: The comprehensive range of online reporting solutions by Dynamic Payment Solutions delivers access to flexible and easy-to-use tools that can be accessed around-the-clock to manage merchants account seamlessly. Comprehensive online reporting solutions for merchants will ensure efficient management of payment-specific transaction data. Dynamic Payment Solutions also offers dynamic reporting solutions to offer real-time information while allowing merchants to make knowledgeable business decisions.
The way in which your customer’s purchase products and services tend to evolve on a daily basis. The global payment experience offered by Dynamic Payment Solutions offers unique market insights to help the company develop comprehensive and innovative solutions to leverage the best value out of all transactions.
- Merchant Training: The policy followed at Dynamic Payment Solutions is to deliver person-to-person training to all the new merchants. The company also offers access to online education on important subjects affecting the credit card processing solutions of merchants. There is the availability of online user guides for the products and services of the company along with dedicated manuals for quick reference.
Dynamic Payment Solutions encourages its merchants to go through information available on the FAQ section of the website. This section aims at educating the customers of the company on core problems like handling chargebacks, basics of payment processing, payment security compliance, avoiding fraud, and so on.
- Data Security: When you are a merchant, you are expected to ensure that your customers are feeling safe and can make secure transactions. At Dynamic Payment Solutions, there is a strong commitment to data security. The company is committed to keeping all personal information safe from credit card frauds and credit card identity theft. The processing solutions of Dynamic Payment Solutions tend to comply with the regulations of PCI DSS.
The ultimate objective of the respective regulations is to ensure the protection of all involved parties -transaction processors, cardholders, and merchants from potential card fraud and identify theft. The company also strives to be 100 percent compliant and current with effective PCI regulations.
Dynamic Payment Solutions Review Based on Complaints
Currently, there has been no trace of negative reviews or complaints against Dynamic Payment Solutions. Overall, there is an absence of negative reviews or complaints on its official website and other public consumer forums.
As there is no negative complaint or review against the company, it can be concluded that Dynamic Payment Solutions is responsive to the customers through its customer support team while also being readily available for its consumers. Vision Bankcard -the affiliate of Dynamic Payment Solutions, also features only a few complaints from the consumers.
Dynamic Payment Solutions Review Based on Lawsuits
Currently, there are no reports of any outstanding lawsuit or FTC complaints against Dynamic Payment Solutions. Still, merchants who might not be satisfied by the products or services of Dynamic Payment Solutions can file a non-litigious action course against the company.
Dynamic Payment Solutions Review Based on Customer Support Options
In the section of customer support, Dynamic Payment Solutions has received an A rating. It is because the official website of the company offers access to a dedicated email address and a contact number for allowing its merchants to contact the team to resolve all their queries.
The presence of positive signs regarding the services of Dynamic Payment Solutions indicates the merchant account provider functions quite well in terms of the top-rated merchant account providers out there.
Better Business Bureau Profile of Dynamic Payment Solutions
Currently, Dynamic Payment Solutions maintains an A+ rating with Better Business Bureau or BBB. However, the company is also not accredited with Better Business Bureau. Until now, the company has received no complaints regarding its products or services on BBB since last 3 years. Within the BBB, Dynamic Payment Solutions has also not received any negative review.
According to the availability of information on BBB and the number of years the company has been
doing business, Dynamic Payment Solutions features a low complaint rate. Therefore, it can be stated that the A rating of Dynamic Payment Solutions is justifiable.
Dynamic Payment Solutions Review Based on Pricing
As of the time of this writing, there is the presence of minimal information regarding the pricing contract of Dynamic Payment Solutions. There is a possibility that Dynamic Payment Solutions currently maintains the same contract as that of Vision Bankcard as well as the Global Payments contract or agreement.
The contract by Vision Bankcard features an early termination fee of $500 for every location as well as liquidated damages -whichever amount might be greater. In terms of competition, it serves to be an expensive early termination fee rate. At the same time, it is possible that the early termination fee and service length agreement can be eliminated by opting for the month-to-month contract or agreement for the products and services of Dynamic Payment Solutions.
In addition to this, there are specific merchant reviews that claim that the company also charged them an undisclosed annual maintenance fee of around $299. The existing agreements feature long-term equipment leases via Global Direct. Global Direct serves to be the equipment leasing department of Global Payments.
In terms of the overall complaints, Dynamic Payment Solutions has not received any complaint regarding its pricing policy. This offers the indication that a majority of clients of Dynamic Payment Solutions are satisfied with its products or services. Still, it is advised for the merchants to effectively go through the terms of all contracts before signing any agreement. At the same time, they are also expected to compare the existing contracts to that of the most affordable merchant account providers out there.
Dynamic Payment Solutions Review Based on Payment Gateway & Virtual Terminal Pricing
In addition to the services of storefront payment processing by Dynamic Payment Solutions, the company is also known to concentrate a part of its website to the promotion of payment gateway and virtual terminal services. All these services of Dynamic Payment Solutions are provided through Authorize.net.
A standard agreement of Authorize.net features a rate of 2.90 percent along with $0.30. At the same time, there is also the presence of a monthly payment gateway fee of $25 along with the batch fee of $0.10. Additionally, Dynamic Payment Solutions reserves its rights to modify the existing terms & conditions because it is a reseller of Vision Bankcard. Therefore, merchants can look forward to negotiating lower fees in comparison to the ones offered by Authorize.net directly.
Dynamic Payment Solutions Review Based on Sales & Marketing Strategy
Dynamic Payment Solutions does not offer proof of hiring independent sales representatives or agents. However, Vision Bankcard -the affiliated company of Dynamic Payment Solutions, hires independent sales agents and representatives.
Irrespective of this fact, there is the absence of any complaint regarding the agents of the company on all variants of non-BBB consumer protection forums or websites. Therefore, it appears that Dynamic Payment Solutions is known to advertise its products and services in a transparent and fair manner.
Additionally, it is also observed that Dynamic Payment Solutions does not engage itself in any form of deceptive marketing or sales strategy in the official marketing materials. This has made reviewers offer the A rating to Dynamic Payment Solutions in the sales & marketing category.
Summary
According to the general standards of payment processing firms, Dynamic Payment Solutions has been rated as a reliable and reputed payment processing provider and a leading merchant account provider. The company features an exceptionally low rate for the overall customer complaints. However, there is lack of general information about the contract terms or hiring practices of the company.
