Paysafe Group purchased MeritCard Solutions in 2016, and the company has since been completely included within the Paysafe name. It appears that MeritCard is no longer a standalone organization because the MeritCard Services website redirects to the Paysafe main website. Read this true and honest MeritCard Solutions Review and get more details about their fees, rates, customer feedback and complaints.
In 2015, Paysafe, often known as Paysafe Group, was established as a restructuring of Optimal Payments. Paysafe is a sizable UK-based merchant account provider. Since changing its name, Paysafe has significantly increased the number of significant subsidiaries it owns that deal with processing payments (like Payment).
In August 2017, The Paysafe Group was purchased by Blackstone Group and CVC Capital Partners, two private equity firms. Currently, Paysafe serves over 200,000 merchants through processing payments, and is made up of the following significant subsidiaries:
MeritCard Solutions, LP (meritcard.com), a “PaySafe Company), offers merchant accounts for a wide range of sectors. There is some evidence to suggest that the company’s processing network is dependent on First Data. Meritcard Solutions was founded locally in 2007 and is situated at 311 S Cesar Chavez Blvd, Dallas, Texas 75201.
Wells Fargo Bank, N.A. of Walnut Creek, California, Deutsche Bank, USA, New York, Woodforest National Bank of Houston, Texas, and Merrick Bank Corporation of South Jordan, Utah are all registered ISO/MSPs of MeritCard Solutions LP. Meritcard Solutions lists Chris Shultz as the company’s principal and Aimee Scorcio as the CFO.
As of this revision, we have only identified one complaint about MeritCard Solutions, which can be found in the website’s comment section. The complainant mentions issues with MeritCard’s fraud prevention practices and general customer service but refrains from calling the company a rip-off or scam.
It’s unclear whether MeritCard manages its accounts or contracts with First Data to handle customer service issues; in the latter scenario, it appears likely that more client complaints would be routed to First Data’s online profiles. Even with this likelihood, there are surprisingly few verified MeritCard complaints overall.
Since 2009, MeritCard Systems has been a Better Business Bureau-accredited company, and it currently has an “A+” rating. In the previous three years, no complaints have been lodged. Additionally, there have been no informal evaluations of the business, although it should be remembered that the BBB does not always verify these reviews. We concur with the BBB’s assessment at this time given these statistics.
Overall, I am dissatisfied with the outcome of my Meritcard experience. To acquire further information about a charge that was made to my account, I’ve called twice and sent over 15 emails. They simply said they would send me the paperwork I requested after I asked for it and after I signed it to agree to the fee, they have been completely silent.
After utilizing them for more than 4 years, I’m really upset. All right if I consented to it. Although it currently merely seems like a bogus charge, I would still accept it. For future commercial initiatives, I would have recommended them or utilized them again, but right now, I would advise staying away. Personal judgment.
There isn’t a lot of information in the public domain about the typical MeritCard Solutions contract at the time of this assessment. We are currently unable to confirm if the company only resells the services of First Data because the company is not making any public complaints that expressly refer to the terms of its contract.
The only particular terms mentioned in the MeritCard Solutions Merchant Program Guide, which is published below, are a typical five-year agreement and a potential early termination charge. Additionally, a $99.00 PCI compliance cost was cited in a complaint that was once submitted to the BBB.
Due to the company’s large use of individual sales representatives, the contract conditions may differ significantly based on the representative setting up the account as well as the merchant’s kind, size, and length of business. We are giving MeritCard a “B” in this category since the only explicitly specified term we can find regarding their basic contract is an unusually lengthy five-year service agreement.
To advertise its services, MeritCard Solutions collaborates with ISOs, individual resellers, and outside agencies. Processing Strategies, LLC is one of the company’s resellers (processingstrategies.com). Reselling is a widespread recruiting activity in the sector that frequently leads to higher-than-average merchant complaint rates.
We have not been able to find any unfavorable MeritCard reviews that specifically highlight the sales crew at this time. Additionally, the business doesn’t seem to use any misleading promotional techniques in its official publications. Therefore, in this category, we give MeritCard Solutions an “A.”
According to our evaluation standards, MeritCard ranks as a better-than-average provider of merchant accounts. There aren’t many complaints about the company online, but there isn’t much information available about its normal contract terms. Given that MeritCard appears to be a reseller of First Data’s services, retailers may anticipate that MeritCard will adhere to the fundamental provisions of the First Data contract.