Headquartered in Atlanta, Georgia, Sage Payment Solutions (rebranded in 2018 as Paya, Inc.) is an international merchant account provider. Founded in 1989 in the UK, Sage payments has offices all over the US and Canada, with their payment processing center in Virginia. GTCR, a private-equity firm, bought it from the Sage Group in 2017.
Sage Payments is a verified ISO/MSP for Chase Paymentech, BMO Harris Bank, HSBC Bank USA, and the National Association of Buffalo, New York. It initially started by providing accounting services to businesses and later became a prominent payment solution provider in the US and UK.
Sage Payment Solutions Features and Services
Sage Payment Solutions offers a substantial range of services to merchants running retail or e-commerce businesses. In addition to mobile, electronic check, and mail payments, it caters to in-person payments as well and accepts MasterCard, Visa, American Express, JCB, and Discover for credit card payments.
Although the website does not provide much information about its products and services, below is a review of what sage has to offer.
Gift and Loyalty Cards
Sage Payments offers loyalty and gift cards to customers who participate in the loyalty program, ensuring that the merchants stay in business with them. The merchants get discounts, reward points, coupons, and sales benefits. These programs are a way to create long-term relations between the consumer and the provider.
Electronic Check Processing
With remote, in-person, and mobile payments, Sage Payments offers electronic check processing that costs less than credit card processing. Merchants can scan the checks on a computer with a remote deposit capture or connect a check imager with their POS system.
Small Business Loans
Partnered with Kabbage, a financial technology company in Georgia, Sage Payments provides funding for small businesses. Merchants can apply for these loans, ranging from $2,000 to $100,000, by online filling out an application form. The terms and conditions appear to be straightforward process.
Mobile Payment App
The Sage mobile app allows merchants to accept payments anywhere with swiped or keyed-in transactions and contactless payments through a POS terminal. This app is available for iOS and Android devices. However, the company has now switched to Paya mobile as their latest payment system.
Sage Payment Solutions Cost and Contract Terms
Merchants are bound to a multi-year contract with Sage Payments that is automatically renewed. In case of cancelation, the company charges you a liquidated-damages early termination fee, multiplying $25 by the number of months left in the contract. The PCI compliance fee of the provider is $100.
The company’s keyed-in or swiped transaction rate is not fixed and depends on the type of business, payment, and the agent who sets up the account. Sage Payment’s leased equipment terms are not disclosed and can vary.
Sage Payments Marketing and Advertisement
Sage Payments partners with independent sales organizations and strategic alliance partners to market its products and services. Either as registered or non-registered ISO, these independent sales organizations resell Sage payment processing services. They can function under their brand name if registered, or they operate under the brand name of Sage Payments as non-registered IOS.
Sage Payment Solutions Reviews and Complaints
Like other big names in the payment processing industry, Sage Payments does not have as many negative reviews online. It has over 40 complaints on consumer review platforms. A large chunk of these complaints is about its customer service. Merchants have also complained about hidden charges and undisclosed terms and seem frustrated with the company’s auto-renewing contract policy.
Sage Payments BBB Report
To start fresh, companies often rebrand to redeem themselves from the excessive and unresolved negative reviews and the stained reputation resulting from those reviews. Sometimes, it works, and the old complaints on multiple forums die out. After rebranding as Paya, the company stopped paying attention to the previous complaints, which is a negative point for the consumers. The provider does not have an independent profile rating on BBB but received 38 informal complaints on the platform in 3 years. Only 10 of these complaints were taken care of.
Sage payments also received 13 negative reviews in the Ripoff Report Directory, similar to those on BBB.
Sage Payment Solutions Drawbacks
This Sage review indicates that merchants should carefully weigh the pros and cons before choosing a service provider. Being in business for a long time, the provider offers effective payment processing services but also has some drawbacks that must be thoroughly examined.
Lack of Information
The information on the company’s new website is inadequate, and the consumers must sign up to get the little information it offers. The company is not transparent about its terms; no details are given about the fee types, and the merchants are often charged with unexpected fees.
Auto-Renewal and High Cost
Because of the company’s auto-renewal policy, merchants have to pay an exorbitant amount when they want to cancel a contract, they did not wish to in the first place. Moreover, the PCI compliance fee and variable rates are too expensive for most businesses.
Merchants have complained that the sales representative hired by the provider does not disclose the contract’s essential terms and uses deceptive marketing for sale. Not knowing all the clauses of an agreement can create severe problems for a consumer, and their business may have to bear the consequences.
When consumers choose a service provider for their business, reliability is their priority. They need a provider who can offer a smooth payment plan that is sustainable, can listen to their concerns, and solve the issues at hand. The complaints against Sage Payments indicate otherwise.
Before signing a contract, merchants are advised to understand all the information provided and ask for any additional information. The terms and conditions should be carefully discussed and negotiated if need be.
The Sage Payment Solutions review above shows that the company cannot be blindly trusted. In the long run, the hidden clauses and unexpected fees can cause trouble for the consumer, and the lack of information can confuse them. Merchants should look for a better-suited company that is reliable and transparent about its terms; these qualities are not found in Sage.