Headquartered in St. Petersburg, Florida, with over 25 years of experience, Meramak Business Solutions is a U.S.-based merchant service provider established in 1992. Sustaining the specialty of offering credit card processing to small businesses, the provider is a verified ISO/MSP of multiple third-party processors. Wells Fargo Bank and First National Bank of Omaha are some of the many financial partners of Meramak.
The company was originally an iPayment reseller, but things went south after iPayment’s acquisition by Paysafe. Hence, Meramak cut all ties and started fresh. The provider aims to offer its clients exceptional consumer support and affordable rates. It claims to practice consistency and promises stable rates without a rapid increase. Meramak prides itself on its zero% processing fee solutions, promoting it for all business types.
The payment facilitator guarantees to look after the client’s financial needs to help them focus on expanding their business reach. It encourages them to explore all possibilities by offering new programs and advanced processing solutions. Merchants with limited finances can avail of the company’s funding facilities ensuring they are never left behind in the ever-changing payment industry. Here is a Meramak Business Solutions review concerning the pros and cons of choosing it as your payment facilitator;
Features and Services
The provider has vaguely displayed information regarding its services on the official website. Being able to process all major credit and debit card brands, consumers can choose from a range of features and products to enhance productivity and growth. They can access EMV card readers, ATM services, mobile terminals, and a full-fledged POS system.
Meramak mainly caters to retail, medical, grocery stores, landscape services, restaurants, bars, bakeries, and the HVAC industry. Users can accept ACH and paper check processing and benefit from the PCI-compliant equipment. They are provided gift and loyalty programs, merchant loans, and tech-savvy e-commerce solutions. Here is an overview of the services available to the Meramak clients;
POS System
Meramak facilitates the freedom to choose from a diverse range of POS systems depending on a company’s requirements. An efficient POS uplifts customers’ shopping experience and the atmosphere of a physical shop. Merchants with minimal needs can utilize a simpler POS with a cash register, while others can benefit from an all-in-one system designed for heavy-duty purposes. As Meramak Business Solutions reviews suggest, all POS comes with customizable features, easily adaptable to a company’s unique preferences.
Virtual Terminals
Users can offer a secure way for customers to shop and pay online. Whether you are to expand your brick-and-mortar company to online services or solely run an online store, the provider has a solution for all. It offers a robust payment gateway with a user-friendly virtual terminal for merchants to accept online credit card payments. Merchants can add recurring billing, email invoices, print receipts, and access reports for every transaction. They can also manage refunds and void transactions.
Mobile Payment Solutions
According to Meramak Business Solutions reviews, merchants can run their businesses remotely with the provider’s mobile payment solutions. Users can take their business everywhere they go and accept payments on the go with the help of a mobile card reader. Connectable with their smartphone or tablet, the card reader is a pocket-friendly easy-to-handle device.
Consumers don’t have to arrange heavy equipment or set up a physical store on the road. After consultation, the company determines what package works best for a client.
Security Features
Even though there is not much information accessible regarding the company’s security measures, reviews suggest that sensitive data is encrypted to maintain customers’ privacy. The advanced end-to-end encryption technology converts data into undecipherable codes to protect it from hackers and fraudsters. The company enables consumers to gain their customers’ trust and maintain the integrity of their platform by offering a secure transfer.
ATM Services
Meramak Business Solutions reviews portray the availability of ATM services, ensuring customer convenience. This minimizes the burden of working staff encouraging people to self-service. Since users can access cash anytime, it significantly enhances a store’s profitability. It ensures an increase in footfall, improves consumer satisfaction, and offers up-selling opportunities.
EMV Compatibility
The provider adds an extra layer of payment protection with its EMV card readers and swipers. Utilizing chip technology speeds up the process and protects a company and its customers’ data. It frees merchants from fraud liability and excessive chargebacks.
Rates and Contract Conditions
Meramak’s official website is entirely unhelpful in offering insight into the company’s pricing. Except for a few exaggerated praises for its lowest processing charges, the provider does not mention its rates anywhere. Even though it advertises zero processing fees, its overall cost is unclear for new merchants. As deduced from multiple Meramak Business Solutions reviews, here is what merchants should expect after signing the agreement;
Contract Terms
When reviewed, the provider no longer outsources its agreements from iPayment. A standard Meramak contract binds clients to a three-year term with cancelation penalties for early termination. Initially, the company charged a $250 to $350 early termination fee, but merchants should expect a difference now that the provider no longer affiliates with iPayment.
Pricing Structure
The company offers a tiered and interchange-plus pricing model, and its rates are compatible with low-cost merchant account providers. After its dissociation with Paysafe, very few complaints have been cited against Meramak pricing.
Fees and Other Charges
The provider does not practice price transparency, so its processing and equipment charges are unclear. Merchants are unaware of its virtual terminal and mobile processing rates. The former Mearamak contract demanded a $49.95 annual fee for retail and $99.95 for non-retail businesses. Merchants were charged a $25 monthly minimum, a $10 statement, and $14.94 to $30 iAccess fee. However, the rates being still the same is highly doubtful.
As Meramak Business Solutions reviews show, merchants should expect a $25 per incident chargeback fee.
Sales Practices and Consumer Support
The payment facilitator only maintains toll-free phone support and has mentioned an email address on the website. These options are inadequate to rank Meramak as a reliable service provider for consumer support.
The company primarily relies on independently employed sales agents and ISOs to market its brand. Although there is a possibility that Meramak practices telemarketing, there is no clear evidence to verify that. There are no complaints to suggest the company’s unethical marketing, but the lack of reviews on the company’s behalf proposes that merchants should not trust the low number of complaints.
Meramak Business Solutions Reviews and Complaints
There are very few online reviews posted by Meramak clients, which can be the reason behind the low complaint total. The provider has not faced any class-action lawsuit, and no FTC reports were cited against it. Possibly, customers are directing their issues to one of the third-party processors.
It is suspicious that a company previously selling iPayment contracts has received such low complaints considering the said processor’s reputation. Nevertheless, consumers are advised to be aware of the following drawbacks;
Undisclosed Information
The provider does not offer any information for new clients. Merchants are not provided product details, equipment lease terms, and contract policies. They are kept unaware of the company’s rates and other intricacies. The official website is merely a display of exaggerated praises and repeated claims but fails to give any tangible information. The limited available information is outdated and cannot be relied upon by current merchants.
Insufficient Consumer Support
The company offers mediocre consumer service by only facilitating phone and email support. These options are inadequate to ensure customer convenience and provide 24/7 help to an increasing number of clients. There is no live chat facility, and merchants cannot access self-service options. The provider does not maintain an FAQ page on the website. It proves that Meramak fails to fulfill the bare minimum expectation from a payment facilitator.
Lack of Clarity
Meramak Business Solutions reviews indicate that the company previously mentioned some pricing and contract details on the website, but it was taken down after it cut ties with iPayment. Presently, most of the charges remain unclear, including the processing rate. The website promotes zero-fee processing but does not clarify the rest of its demands. The company’s equipment lease terms are a mystery too.
BBB Ranking
Since its accreditation with BBB in 2010, the provider was rated A+ on the review platform. However, zero reviews are posted on Meramak’s BBB profile, making consumers skeptical about the rating. The lack of complaints is a hopeful indication only when a positive response is cited in the processor’s favor. Otherwise, the low complaint volume only hints at clients’ lack of interest in giving online feedback.
Final Words
As concluded from this Meramak Business Solutions review, the payment facilitator is an average account provider for some small businesses; it is not highly recommended. The company is not for merchants who prefer complete disclosure before signing the agreement. It is unfit for industries looking for up-to-par consumer support with dedicated attention for each client. Merchants are advised to find a payment service provider capable of eliminating every confusion and offering unmatched transparency. Moreover, they are encouraged to hire a third-party auditor before choosing any payment processor.
