MobiusPay is a well-known company that specializes in processing credit cards and is based in St. Petersburg, Florida. Founded in 2010, the company focuses on delivering safe and effective electronic payment options to a variety of businesses worldwide. Specializing in high-risk merchant accounts, MobiusPay provides a range of services like credit card processing, ACH processing, fraud prevention, and mobile payment solutions. Their dedication to customer service and cutting-edge technology has established them as a trustworthy ally for companies in need of strong payment processing solutions.
Company Background
MobiusPay was founded in 2010 by Mia Hyun, a seasoned entrepreneur with over 20 years of experience in the financial services industry. Mia Hyun co-founded several financial businesses before establishing MobiusPay, aiming to create a company that empowers thought leaders and entrepreneurs with innovative payment solutions. The company initially operated under the name Mobius Payments and rebranded to MobiusPay in 2017 to reflect its expanded capabilities and services.
Since its inception, MobiusPay has achieved significant milestones, including processing over 2 billion transactions and supporting more than 125 shopping cart integrations across 66 currencies globally. The company’s expansion has been characterized by its capacity to manage risky transactions, leadinhg to a diverse clientele from different sectors. MobiusPay’s cutting-edge technology and dedication to PCI compliance have been key factors in its growth and reputation for dependability.
Mia Hyun, the founder and CEO, brings a wealth of knowledge and expertise to the company. She is actively involved in the Electronic Transaction Association and has served as a board director for the Western State Acquirers Association. Jonathan Corona, as the Chief Operating Officer, complements her leadership. Jonathan became a member of MobiusPay in 2010 and played a key role in the company’s rebranding process. Having almost twenty years of experience in electronic payments, he manages daily operations and guarantees adherence to industry regulations. The leadership team is further strengthened by Mike Lohmueller, the CFO, who has over 40 years of experience in merchant acquiring, and Greg Anders, the CSO, who has extensive experience in e-commerce and banking relationships.
Services Offered by MobiusPay
MobiusPay provides a comprehensive range of payment processing solutions designed to meet the diverse needs of businesses. Their services are robust and cater to various aspects of electronic payments, ensuring secure and efficient transactions.
Payment Processing Solutions
Credit Card Processing: MobiusPay supports the acceptance of all major credit cards, including Visa, MasterCard, American Express, Discover, Diners Club International, and UnionPay. This service ensures that businesses can cater to a wide customer base with flexible payment options.
ACH Processing and SEPA Support: Businesses can take advantage of Automated Clearing House (ACH) and Single Euro Payments Area (SEPA) processing to simplify direct debit transactions and overseas payments. These choices are especially beneficial for companies that require recurring billing solutions and have customers from all over the world.
High-Risk Merchant Accounts: MobiusPay specializes in providing merchant accounts for high-risk businesses. These accounts come with tailored solutions that address the specific challenges and compliance requirements faced by high-risk industries.
Chargeback Prevention and Fraud Protection: The company provides sophisticated tools for preventing fraud and strategies to reduce chargebacks. Order Insight® and PCI insurance services aid in mitigating chargeback risks and safeguarding businesses against fraudulent activities.
Mobile Payment Solutions
iProcess Mobile App: This app allows businesses to process payments securely via mobile devices. It supports card-present transactions, enhancing security and reducing processing fees.
iPS Enterprise Card Reader: This mobile card reader converts smartphones and tablets into secure mobile terminals, enabling businesses to accept payments anywhere. It works in conjunction with the iProcess app to ensure seamless mobile payment processing.
Additional Services
TXT2PAY: This service enables businesses to collect payments through text messages, offering a convenient and quick way to facilitate transactions without additional hardware.
Online Check Processing: MobiusPay provides online check processing solutions that include features like Check Guarantee and Check 21, ensuring fast and secure check transactions.
Gift and Loyalty Cards: Businesses can improve customer loyalty and engagement through MobiusPay’s gift and loyalty card initiatives. These tailor-made programs help in boosting customer loyalty and encourage repeat business.
MobiusPay’s diverse range of services ensures that businesses of all types and sizes can find a tailored solution to meet their payment processing needs. Their focus on security, efficiency, and customer support makes them a reliable partner in the electronic payments industry.
Technology and Security at MobiusPay
MobiusPay prioritizes the security of its payment processing services by employing advanced technologies to protect sensitive data and ensure compliance with industry standards. Here’s a detailed look at their key security features:
PCI Compliance: MobiusPay adheres to the Payment Card Industry Data Security Standard (PCI DSS), ensuring that all transactions meet stringent security requirements. PCI compliance is crucial for protecting cardholder data during transactions and is mandatory for all businesses that accept credit card payments.
Tokenization and Encryption: MobiusPay utilizes tokenization and encryption to safeguard sensitive payment information. Tokenization substitutes sensitive card information with a distinct token that is not sensitive and cannot be undone. This technique is especially successful in minimizing the likelihood of data breaches since the merchant never stores or sends the actual card details. Encryption further enhances security by encoding payment data during transmission, which can only be decoded by an authorized decryption key, ensuring that the information remains secure during transit.
Dual Gateway Systems: MobiusPay employs dual gateway systems to ensure high availability and reliability. This setup allows for continuous payment processing even if one gateway experiences downtime, maintaining a seamless transaction flow and reducing the risk of service interruptions.
Order Insight® for Chargeback Reduction: Order Insight® is a proactive tool used by MobiusPay to mitigate chargebacks. It provides detailed transaction information to issuing banks and customers, helping resolve disputes before they escalate into chargebacks. This system significantly reduces the financial and reputational impact of chargebacks on merchants.
Negative Database for Fraud Prevention: To combat fraud, MobiusPay maintains a negative database that tracks suspicious activities and known fraudsters. This database helps in identifying and blocking fraudulent transactions in real-time, protecting merchants from potential losses and ensuring a secure payment environment.
MobiusPay shows a firm dedication to safeguarding its clients’ and their customers’ sensitive data by incorporating advanced technologies and security measures, establishing itself as a trustworthy ally for secure and efficient payment processing.
Integration and Compatibility
MobiusPay offers robust integration and compatibility options to ensure seamless payment processing for businesses of all types. Their system is designed to be flexible and easily adaptable to various platforms and technologies.
Supported Shopping Cart Integrations: MobiusPay supports a wide range of shopping cart integrations, making it easy for e-commerce businesses to incorporate their payment processing solutions. With compatibility for over 195 shopping cart platforms, including popular ones like Shopify, WooCommerce, and Magento, businesses can effortlessly integrate MobiusPay’s services into their existing systems. This extensive support allows merchants to streamline their operations and provide a smooth checkout experience for their customers.
API and Gateway Plugins: The MobiusPay Gateway provides comprehensive API and gateway plugins that facilitate easy integration with various software and platforms. These plugins enable developers to customize and enhance their payment processing capabilities. The API enables safe and effective transactions, equipping businesses with the necessary resources to manage payments across online, offline, and mobile platforms. The gateway allows for the use of various programming languages and is created for ease of use, enabling companies to easily set up and oversee their payment methods.
Compatibility with Various Payment Platforms and Systems: MobiusPay’s services are compatible with a wide array of payment platforms and systems, ensuring that businesses can accept payments through multiple channels. This includes support for all major credit cards, ACH, SEPA, and mobile wallets. Additionally, MobiusPay is compatible with various point-of-sale systems and e-commerce platforms, allowing businesses to provide a consistent payment experience across different sales channels. This versatility ensures that merchants can meet their customers’ payment preferences while maintaining a secure and efficient payment process.
Customer Experience
MobiusPay prioritizes a smooth and supportive customer experience, ensuring that businesses can efficiently manage their payment processing needs from the very start.
Onboarding Process: The onboarding process with MobiusPay is designed to be seamless and straightforward. It begins with a comprehensive pre-screening to assess the business’s needs and suitability. This is succeeded by identity checks and underwriting to guarantee adherence and safety. After getting approval, MobiusPay helps with incorporating their payment gateway into the company’s current systems, offering technical assistance and training to ensure smooth operations.
Customer Support Availability (24/7 Support): MobiusPay offers 24/7 customer support to address any issues or questions that may arise. Their support team is available through various channels, including phone, email, and live chat, ensuring that help is always accessible. This round-the-clock availability is crucial for businesses that operate outside of standard hours or encounter unexpected issues.
Testimonials and User Feedback: MobiusPay has received positive feedback from its users, highlighting the personalized and professional service provided by their team. Customers value the personal focus and specialized guidance provided by the team at MobiusPay, aiding numerous companies in overcoming intricate payment processing obstacles. Reviews often mention the company’s reliability and the significant reduction in chargebacks due to their proactive fraud prevention measures.
Client Retention Rate: MobiusPay boasts a high client retention rate, indicative of their strong customer satisfaction and effective service delivery. The company’s dedication to ongoing assistance, clear communication, and customized solutions helps it maintain long-term client relationships. Businesses that start with MobiusPay tend to stay with them, thanks to the consistent quality of service and ongoing improvements to their payment processing systems.
Pricing and Fees
MobiusPay provides a variety of payment processing solutions designed to cater to the requirements of different types of companies. It is crucial to understand their pricing and fee system in order to make informed choices regarding utilizing their services.
General Pricing Structure: MobiusPay’s specific pricing details are not publicly disclosed on their website, which is a common practice among many payment processors. They typically offer customized quotes based on the business’s size, transaction volume, and industry type. To get precise information on the costs, merchants need to contact MobiusPay directly for a tailored quote.
Comparison with Industry Standards: The fees associated with MobiusPay’s services are generally competitive within the payment processing industry. Typical credit card processing fees range from 1.15% to 3.15% per transaction, depending on the type of card and transaction method (in-person or online). MobiusPay’s rates are designed to align with these industry standards, though exact figures can vary based on specific business needs and risk factors.
Transparency in Fees and Contract Terms: MobiusPay is noted for its transparency in contract terms, though specific fee details are less publicly available. They avoid deceptive advertising and disclose essential terms upfront, which helps build trust with their clients. However, potential customers should carefully review the contract and inquire about all possible fees to avoid any surprises.
Potential Hidden Costs: While MobiusPay generally receives positive reviews regarding their transparency, businesses are advised to scrutinize their statements for any hidden fees. Some merchants have reported potential hidden costs in the form of additional service charges or monthly minimum fees. It’s crucial for businesses to request a detailed breakdown of all fees and to regularly audit their statements to ensure there are no unexpected charges.
In conclusion, although MobiusPay has competitive and transparent pricing, businesses should communicate with the company directly to get personalized and detailed fee information. Regularly monitoring and transparent communication can prevent potential hidden expenses.
Contract Terms
MobiusPay offers flexible and clear contract terms designed to accommodate a variety of business needs, particularly for high-risk merchants. Here is an overview of the key elements of their contract terms:
Overview of Contract Length: MobiusPay typically offers contracts that vary in length depending on the nature of the business and the risk profile. Standard contracts may range from one to three years. However, specific terms are customized based on the merchant’s needs and the agreement reached during the onboarding process.
Cancellation Policies: MobiusPay’s cancellation policies are generally straightforward. Merchants can terminate their contracts, but they may be subject to early termination fees if the cancellation occurs before the contract’s end date. These fees are designed to cover the costs associated with setting up and managing the account. It is advisable for merchants to carefully review these clauses to understand any potential financial implications of early termination.
Terms and Conditions for High-Risk Merchants: High-risk merchants, such as those in industries like online gaming, adult entertainment, or travel, may face additional terms and conditions. These can include higher processing fees, more stringent compliance requirements, and enhanced fraud prevention measures. MobiusPay customizes its services to handle the specific risks linked to high-risk sectors, guaranteeing safe and dependable payment processing.
Examples of Contract Clauses
Typical contract clauses with MobiusPay might include:
- Processing Fees: Details on the percentage rates and transaction fees applicable.
- Chargeback Handling: Policies on how chargebacks are managed and any associated fees.
- Compliance Requirements: Obligations for maintaining PCI compliance and other regulatory standards.
- Service Level Agreements (SLAs): Commitments regarding uptime, support response times, and resolution procedures.
- Termination Terms: Specific conditions under which the contract can be terminated and any penalties involved.
MobiusPay is known for its transparent method, offering clear documentation upfront to assist merchants in comprehending their obligations and expenses. This level of transparency fosters trust and guarantees that merchants have a complete understanding of their contractual responsibilities.
Customer Reviews and Feedback
Nevertheless, a few users have expressed worries over the insufficient transparency in pricing details and possible additional charges.
Summary of Customer Reviews from Multiple Sources
MobiusPay holds an A+ rating with the Better Business Bureau (BBB) and has not received any complaints in the past three years. The company is also positively reviewed on other platforms, with many customers praising its service quality and support. On Google, MobiusPay has several positive reviews highlighting its efficient service and responsive customer support.
Common Praise and Complaints
Customers often commend MobiusPay for its outstanding customer service, specifically pointing out the support staff’s helpful and professional demeanor. The company is often praised for its effective new employee orientation process and trustworthy handling of transactions. Still, some users have raised concerns regarding the lack of transparency in revealing pricing information and potential hidden fees. These issues indicate that although the service is usually dependable, increasing transparency in pricing could boost customer confidence.
Notable Testimonials and Case Studies
Several testimonials on the MobiusPay website and other review platforms showcase satisfied customers. For instance, users have commended the company for its personalized service and the significant reduction in chargebacks due to their advanced fraud prevention tools. One notable testimonial mentioned the positive impact of MobiusPay’s service on their e-commerce business, highlighting the support from Jonathan Corona, the COO, who provided exceptional guidance and assistance during critical times.
Strengths and Advantages of MobiusPay
MobiusPay stands out in the payment processing industry due to its numerous strengths and advantages, making it a preferred choice for many businesses.
Reliability and Uptime: MobiusPay boasts an impressive uptime of 99.999%, ensuring that merchants experience minimal downtime and consistent service availability. Businesses that depend on continuous payment processing need this high level of reliability to ensure customer satisfaction and operational efficiency.
Customization and Scalability of Services: MobiusPay offers highly customizable and scalable solutions tailored to the specific needs of various businesses. Whether it’s a small startup or a large company, MobiusPay provides flexible payment processing options that can grow with the business. Their services include credit card processing, ACH transactions, and mobile payment solutions, all of which can be adapted to meet the unique requirements of different industries.
Strong Fraud Prevention Measures: Security is a top priority for MobiusPay. They implement robust fraud prevention measures, including tokenization, encryption, and compliance with PCI DSS standards. Furthermore, tools such as Order Insight® and the Negative Database aid in minimizing chargebacks and identifying fraudulent activities instantly, giving merchants assurance and safeguarding their income.
Positive User Testimonials: Customer feedback for MobiusPay is overwhelmingly positive. Customers often praise the company for its outstanding customer service and dependable payment processing solutions. Testimonials highlight the company’s expertise in efficiently handling high-risk transactions and the personalized support provided by key team members like Jonathan Corona. These positive reviews underscore MobiusPay’s commitment to delivering high-quality service and building strong relationships with their clients.
Overall, MobiusPay’s strengths in reliability, customization, security, and customer satisfaction make it a robust choice for businesses looking for comprehensive payment processing solutions.
Competitors and Alternatives
Evaluating MobiusPay for credit card processing includes comparing it to other top competitors to identify its unique benefits and determine situations where it may not be the best option.
Comparison with Other Major Credit Card Processors: MobiusPay competes with several prominent credit card processors such as Stripe, Square, PayPal, and Helcim. Stripe is recognized for its strong API and is popular among e-commerce and tech-savvy companies for its adaptable and comprehensive online payment options. Square is ideal for small and medium-sized businesses, specifically in the retail and dining sectors, because of its user-friendly interface and affordable hardware. PayPal is widely used and has broad global coverage, making it a top pick for businesses catering to clients worldwide. Helcim offers transparent pricing and excellent customer support, making it a strong competitor in providing low-cost payment solutions for small to medium businesses.
Unique Selling Points of MobiusPay: MobiusPay differentiates itself with its high uptime of 99.999%, ensuring reliable transaction processing. It focuses on managing merchant accounts with high risk, providing personalized solutions and effective fraud prevention techniques such as tokenization, encryption, and Order Insight®. Moreover, MobiusPay also caters to a wide range of businesses with diverse and international customer bases by offering support for over 195 shopping cart integrations and accepting 66 currencies worldwide. The company’s dedication to customer support and satisfaction is often complimented in user reviews for their personalized 24/7 customer service.
Situations Where MobiusPay Might Not Be the Best Fit: While MobiusPay excels in many areas, it might not be the best fit for all businesses. Startups or small businesses that have low transaction volumes may discover that Square or PayPal are more affordable because of their straightforward fee schedules and absence of monthly fees. Businesses looking for a wide range of customization through API could favor Stripe because of its extremely adaptable integration choices.
Moreover, companies seeking transparent, no-nonsense pricing could consider choosing Helcim or National Processing since they are recognized for their straightforward and consistent pricing structures. Lastly, MobiusPay’s specific focus on high-risk merchants might not be necessary for businesses operating in low-risk industries, where other processors might offer more tailored and cost-efficient solutions.
Conclusion
MobiusPay provides secure, customizable credit card processing solutions that excel in high-risk merchant accounts. It is distinguished in the industry due to its robust fraud prevention measures and favorable customer feedback. Businesses in need of strong, custom payment options should look into MobiusPay for its thorough services and top-notch support.
