MagicPay Review, Rates, and Complaints

Founded in 2012, MagicPay is a payment processing company headquartered in Boca Raton, Florida, with a specialty in working with high-risk businesses and offshore merchant accounts. The company is a registered ISO of iPayHere and serves businesses in the U.S, Canada, and Puerto Rico. Our team did a comprehensive MagicPay review to analyze the potential of the company.

MagicPay provides seamless credit card processing with advanced-tech, simplified solutions and consistent guidance to help merchants every step of the way. It enables merchants to accept payments anywhere and avail boundless opportunities to reach their goals. The company claims to offer competitive rates and risk-free services that can be canceled anytime a merchant sees fit. Furthermore, it provides mobile payment technology, virtual terminals, retail merchant account solutions, and e-commerce programs.

Various B2B, high-volume, and drop shipping businesses trust the provider as their payment processor. MagicPay provides secure payment processing with 24/7 customer support and integrated payment solutions. It prides itself on transparent pricing, fast transactions, and flexible contract terms. The provider serves multiple industries such as automotive, airline, credit repair, restaurants, gaming, legal, pharmaceutical, travel, nutraceuticals, and marketing agencies.

MagicPay has partnered with various processors such as Global Payments, First Data, and TSYS and uses Authorize.net, USAePay, NMI gateway, and eProcessing Network are renowned payment gateways for online payments. Along with a breakdown of rates and services, here is a MagicPay review with all its benefits and shortcomings to help merchants determine if they can rely on the provider.

MagicPay Review Based on Features and Services

MagicPay is a convenient merchant service provider offering a complete package for merchants who need payment processing solutions. It provides efficient POS systems, wireless terminals, and EMV credit card terminals. The provider supports ACH and e-check payments and accepts over 120 currencies. Recurring billing options, e-commerce solutions, and electronic invoicing allow merchants to facilitate a stress-less transaction experience.

MagicPay enables businesses to grow beyond limits with its API and SDK technology and assists integrated payment solutions that are more secure and less time-consuming. The company provides hassle-free returns, constant support, and authentic security options for businesses worldwide.

In-Person Payments

MagicPay provides an all-in-one POS system called Clover Station. It is a fast and efficient POS system with a large display that allows merchants to accept payments while allowing customers to initiate and view the transaction with its moveable screen. It is best for full-service restaurants, retail stores, and innovative entrepreneurs needing heavy-duty equipment. The provider allows merchants to create custom orders, remove ingredients, and update items while managing employees and inventory.

With Clover smart apps, they can track customers’ shopping habits, notify them about discounts and promotions, and attract new customers. Clover’s online dashboard allows businesses to view real-time sales, set up schedules, and change prices all in one place. Clover Mini and Clover Go are other compact POS products enabling customers to swipe, tap, or chip payments from their smartphones or tablets.

Various MagicPay reviews claim that Clover POS systems are compatible with Android and iOS devices. The company provides fast shipping, offers flexible return policies, and arranges continual assistance setting up the system.

Online Payment Solutions

The provider offers virtual terminals, payment gateway, and shopping card integration for online businesses and accepts all major credit and debit cards. MagicPay virtual terminal allows merchants to provide e-receipts to their customers. They can edit their company’s logo, color, and theme of the receipts and add their brand’s identifying features such as phone, address, or name. Customers can manually enter their credit card details or swipe them through the company’s USB card reader.

MagicPay offers a convenient payment gateway with advanced fraud protection to avoid scams and identity theft. It provides electronic check processing and recurring billing option to enhance customer retention, increase cash flow, and reduces administrative cost. The company’s shopping cart integration offers customers a fast and efficient shopping experience and is especially valuable for online businesses.

EMV and Wireless Terminals

MagicPay’s wireless and EMV-enabled terminals are suitable for grocery stores, small to mid-sized retailers, and restaurants. These terminals provide a more secure payment experience to meet global standards. The provider supports in-contact, contactless, and mobile payments with high security and fraud protection.  

MagicPay has replaced old terminals and bulky registers with a simple, all-in-one Clover Flex wireless terminal. It offers cloud-based solutions for merchants to handle and access their payments anywhere. Businesses can manage their customer’s information and provide immediate loyalty programs to turn one-time customers into regular ones.

According to the MagicPay reviews, the Clover terminals have user-friendly features and WiFi connectivity, allowing merchants to log in anytime to review their daily sales. Clover Flex can be used as a stand-alone terminal or synced with other Clover devices.

Multi-Currency Processing

Merchants doing business outside of the U.S and needing credit card processing can benefit from MagicPay’s offshore merchant account services. The provider accepts over 120 currencies, meaning customers can pay in their local currency, and MagicPay will conveniently convert it into U.S dollars. This way, merchants can reach more customers and grow their business without limiting their approach.

With MagicPay’s multi-currency e-commerce solutions, customers can avoid currency exchange fees and high rates for foreign transactions. Merchants can get rid of chargebacks and tiring customer inquiries. They can increase their revenue and gain customer confidence.

Automated Bookkeeping

With QuickBooks Online, merchants can sync their transaction data and update invoices in one place without manually recording each payment. Merchants can send a payment link to their customers to pay online and transfer sales, invoice data, and the customer’s billing data to QuickBooks Online. The provider offers an all-in-one billing solution to save time, avoid mistakes, and increase workflow.

MagicPay Review Based on Contract Terms and Pricing

Multiple reviews prove that the provider offers a month-to-month contract and allows merchants to cancel it anytime without any early termination fee. It provides a tiered and interchange-plus pricing plan through iPayHere with variable rates depending on the type of merchant account. The company’s processing rate will differ if you set up an online business, retail, mobile, or high-risk and offshore account.

Rates for Mobile Processing

The provider offers a starter and a premier plan for mobile processing, charging $10 per month with 1% plus $0.10 and $20 per month with 1% plus $0.5 for each plan, respectively. The premier plan is more suitable for merchants processing more than $3000 per month, while the merchants processing less than that are advised to avail of the starter plan.

Virtual Terminal Rate

Merchants can either subscribe to the virtual pay plan or virtual pay pro plan as needed. With credit cards qualified for lower rates, merchants pay $15 per month with 2.2% plus $0.30 for the virtual pay plan. Non-qualified cards are charged 3.2% plus $0.30. The virtual pay plan pro charges a per-transaction rate of $30 per month with 0.75% plus $0.20.

Rates for Retail Processing

Retail Merchants are offered a choice between a retail terminal, a PC and iPad POS, and a wireless terminal plan.

• The PC and iPad POS plan charges $10 per month, and its per-transaction rate for the interchange plus pricing model is 0.5% plus $0.05
• Merchants wanting to avail of the wireless terminal plan pay $30 per month and a per transaction rate of 0.5% plus $0.10
• The retail terminal plan costs $20 per month and 0.5% plus $0.05 per transaction.

Online reviews hint that the company offers a tiered pricing plan for retail merchants. For swiped transactions, merchants pay 1.69% plus $0.20 for qualified and 2.39% plus $0.20 for mid-qualified card transactions. The provider keyed-in rate is 3.49% plus $0.20 for qualified, mid-qualified, or non-qualified card transactions.

MagicPay Review Based on Customer Support

The provider offers 24/7 customer support and has reserved a phone number as a domestic helpline. It has mentioned an email address for merchants to address their concerns. Moreover, MagicPay provides a demo in a recorded training video for merchants to understand the hardware and get a better hang of the company’s features and software.

The provider offers documentation with simplified guidelines, troubleshooting instructions, and FAQs. Merchants are given a fax number and live one-on-one assistance. Multiple MagicPay reviews verify that the company provides excellent customer support that competes with the top-rated payment processors.

MagicPay Review Based on Sales and Marketing

MagicPay has a clean record regarding marketing and advertisements. The company hires in-house sales agents and does not employ independent resellers to promote and sell its services. It uses simple strategies and discloses most of the essential information regarding its terms and pricing.

Most MagicPay reviews specify that the provider does not deceive its merchants, brings forth a straightforward pricing structure, and is transparent about its contract terms. Merchants are advised to utilize the services of a third-party audit to ensure no hidden charges will burden their business.

MagicPay Review Based on Complaints

There aren’t many MagicPay reviews cited on independent online platforms except for Facebook and a few others. Most five-star reviews do not show any text, and it isn’t easy to know their motive. The provider has maintained a low complaint record, which means it offers exceptional service or does not have a high client rate yet to receive as many reviews.

It is noticeable that most merchants refer to the provider by its reseller or its former name. Merchants may be filing complaints against iPayHere, or Switch Pay instead of their intended target. Currently, there are no mentionable lawsuits or FTC reports against MagicPay.

BBB Report

Better Business Bureau accredited the company in 2019, and the provider has received an A+ rating on its recently created BBB profile. Since the profile is new, there are no formal complaints or informal reviews against MagicPay on that platform. Dissatisfied merchants are advised to trust only some online reviews and decide by their own experience rather than solely relying on ratings.

MagicPay Review Based on Drawbacks

A few MagicPay reviews portray it as a reliable service provider with competitive customer service and reasonable rates. However, every service provider has some drawbacks that may damage a business. Merchants looking to signup with the provider should consider these drawbacks to know if MagicPay is suitable for their business.

Undisclosed and Ever-Changing Rates

The provider claims to offer transparent pricing, which is accurate to some extent, but the reviews prove otherwise. The company does not disclose its PCI compliance, batch, monthly minimum, and statement fee to the public. Merchants are not provided any insight about MagicPay’s equipment lease terms, and the pricing is variable.

Moreover, the provider often changes its rates, so merchants cannot rely on it. Since it offers a short-term contract, MagicPay can technically change the pricing the minute after your contract expires, and you may have to pay higher rates after renewing the contract. Undisclosed pricing also means the provider can charge as much as it wants, and you cannot decide beforehand if you can afford it.

Not Suitable for Low-Risk Businesses

MagicPay is an excellent service provider for many high-risk businesses but unsuitable for small and low-risk businesses. The companies designed to cater to high-risk enterprises are commonly too expensive as they cover the additional risk faced by high-risk companies. The provider is suitable for a limited category of businesses and can only be relied upon for specific business types.

Final Verdict

The MagicPay reviews show that it is a satisfactory service provider for a particular business type but has limitations that most businesses cannot comply with. It is an unreasonable choice for most small to medium-sized businesses. The company has categorized many essential products and features as additional services, which means merchants have to pay extra for those basic requirements that most payment processors provide within the average package. Consequently, the company is too expensive for most merchants.

Moreover, MagicPay does not provide all the information, which is never a good indication. Merchants deserve full disclosure, honest pricing, and a complete declaration of its terms and conditions to assess a service provider.

Merchants signing up with MagicPay are advised to ask all the necessary questions and understand the terms before signing up. Businesses looking for an affordable service provider with consistent rates and dependable contract terms are encouraged to search for a better payment processor that meets their requirement.