SecurePay Credit Card Processing is a top provider of payment gateway solutions, providing a variety of services tailored to meet the requirements of different types of businesses. Renowned for its strong security measures and cutting-edge payment processing technology, SecurePay is a favored option for businesses in need of dependable and secure payment processing solutions.
Company Background
SecurePay has experienced substantial transformations since it was first established. Formerly named Pipeline Pay, the company underwent multiple acquisitions, beginning with Calpian Commerce purchasing its assets following Pipeline’s bankruptcy. Afterwards, in 2015 Excel Corporation purchased Calpian, and in 2018, the OLB Group took over all these brands, including SecurePay. The acquisitions have assisted SecurePay in growing and diversifying its services, establishing its presence in the payment processing sector.
Currently, SecurePay Credit Card Processing is a fully-owned subsidiary of the OLB Group, a company known for integrating advanced technology with financial services. The OLB Group’s approach to acquiring companies has enabled SecurePay to utilize a wider array of resources and knowledge, improving its abilities and expanding its market presence. This ownership structure has also enabled SecurePay to offer a diverse array of services, catering to various business needs.
SecurePay Credit Card Processing processes over $1.3 billion in transactions annually and supports approximately 8,500 merchants. This significant transaction volume underscores the trust and reliability that businesses place in SecurePay’s services. The company’s market position is further strengthened by its comprehensive suite of payment processing solutions, which include payment gateways, mobile payment processing, and POS systems.
The leadership of SecurePay, under the aegis of the OLB Group, plays a crucial role in steering the company’s strategic direction. Ronny Yakov, the CEO of the OLB Group, is a key figure in SecurePay’s management. His ability to see and lead effectively has played a crucial role in forming SecurePay’s expansion and maintaining its commitment to top-notch security and customer service. The management team’s knowledge in financial services and technology has played a crucial role in keeping SecurePay competitive in the market.
SecurePay’s history of acquisitions and strategic leadership has positioned it as a reliable and innovative payment processing provider. This background information sets the stage for a deeper exploration of SecurePay’s service offerings, pricing structures, and customer experiences in the subsequent sections of this review.
Services Offered
SecurePay Credit Card Processing provides a wide range of services tailored to fit the varying requirements of different businesses. These offerings consist of a strong payment gateway, advanced POS systems, and options for eCommerce and mobile payment processing, in addition to merchant cash advances.
Payment Gateway
SecurePay’s payment gateway is renowned for its security and reliability. Key features include SecureGuard encryption, which protects against fraud and data breaches. The gateway supports various transaction types, including card-present, e-commerce, and MOTO (Mail Order/Telephone Order) transactions. It also offers flexible batch processing times, allowing businesses to control their settlement times for next-day funding.
Point of Sale Systems
SecurePay Credit Card Processing offers cutting-edge POS systems that simplify face-to-face transactions. These systems include necessary functions like tracking sales, managing inventory, and generating analytical reports. The POS solutions aim to improve business operations by offering a detailed look at sales and inventory, enabling effective management and decision-making.
eCommerce Solutions
For online businesses, SecurePay offers secure eCommerce solutions that integrate seamlessly with various online platforms. These solutions support recurring billing, allowing businesses to automate customer payments on a specific schedule. SecurePay’s eCommerce platform is designed to handle high transaction volumes securely and efficiently.
Mobile Payment Processing
SecurePay’s ability to process mobile payments allows businesses to easily accept payments while on the move. The system is compatible with EMV chip cards and mobile wallets such as Apple Pay, making it a versatile option for businesses that have operations in various places or require remote transaction processing. This adaptability allows businesses to seize sales chances wherever they arise.
Merchant Cash Advance
SecurePay Credit Card Processing also offers merchant cash advances, providing businesses with immediate capital in exchange for a percentage of future sales. This service is particularly beneficial for businesses needing quick access to funds to manage cash flow, invest in growth opportunities, or cover unexpected expenses. The merchant cash advance solution helps businesses maintain operational stability without the lengthy approval processes associated with traditional loans.
SecurePay offers a variety of services to meet the diverse requirements of contemporary businesses, providing secure, efficient, and flexible options for handling payments and managing finances.
Pricing and Fees
SecurePay Credit Card Processing offers a variety of pricing plans tailored to different business needs. However, the specifics of their pricing structure are not prominently advertised and often require direct consultation for detailed information.
General Pricing Structure
SecurePay typically employs a tiered pricing model, which categorizes transactions into different pricing tiers based on criteria such as transaction type and risk level. This model can lead to variability in the fees charged for different transactions. In addition, SecurePay might provide interchange-plus pricing to bigger merchants, which can be both cost-effective and more transparent. As an example, fees for transactions can vary between 1.75% + $0.30 for local cards and 2.90% + $0.30 for foreign cards.
Common Fees and Charges
SecurePay’s fee structure includes several standard charges common to the credit card processing industry. These typically include a monthly fee, a per-transaction fee, and a percentage fee based on the transaction amount. For instance, businesses might pay a monthly fee starting at around $7.60 and transaction fees ranging from 2.2% + $0.20 per swipe for traditional pricing models. Additional fees might include charges for PCI compliance, chargebacks, and batch processing.
Potential Hidden Fees
One area of concern for some users is the potential for hidden fees. While SecurePay Credit Card Processing does not prominently list all fees in their marketing materials, some users have reported unexpected charges, such as fees for account maintenance, early termination, or non-compliance with PCI standards. Businesses are advised to carefully review their contracts and statements to understand all potential charges fully.
Comparison with Industry Standards
When compared to industry standards, SecurePay’s pricing is competitive but can vary widely based on the specific plan and services selected. The average credit card processing fee in the industry ranges from 1.5% to 3.5% of the transaction amount, plus additional fixed fees per transaction. SecurePay’s rates fall within this range, but it is crucial for businesses to compare SecurePay’s offerings with other providers to ensure they are getting the best deal for their specific needs.
Customer Support and Service
SecurePay Credit Card Processing offers a range of customer support options designed to assist businesses with their payment processing needs. The company advertises 24/7 customer support, which is managed through an email ticketing system. However, the actual availability and response times can vary.
SecurePay Credit Card Processing offers various options for customer assistance, such as email and a toll-free customer service hotline (855-452-7135). The company states that they provide 24/7 support every day of the year in order to guarantee that customers can receive help at any time.
Availability and Response Times
While SecurePay Credit Card Processing promotes 24/7 availability, customer feedback indicates that the response times may not always meet this standard. Support requests are typically handled through an email-based system, which can sometimes result in delays. There is limited information about the availability of direct phone support, which may impact how quickly issues can be resolved.
Common Customer Service Issues
Customer reviews of SecurePay Credit Card Processing highlight several common issues with their customer service. The most frequently reported problems include delays in response times, difficulties in reaching a live support agent, and dissatisfaction with the resolution of issues. Some users have also noted that while the initial support interactions may be prompt, follow-up communications can be slow, leading to frustration when dealing with complex or ongoing issues.
Despite these challenges, SecurePay Credit Card Processing continues to strive for a high level of customer service. They stress the significance of efficiently addressing problems and strive to offer thorough assistance to their users. Nevertheless, businesses are encouraged to closely supervise their support interactions and elevate issues when needed to guarantee prompt and satisfactory solutions.
Overall, SecurePay’s customer support has both strengths and weaknesses, and businesses considering their services should weigh these factors when making a decision.
Reputation and Reviews
SecurePay Credit Card Processing has a mixed reputation based on user feedback and industry reviews. Overall, customer experiences with SecurePay vary significantly, reflecting both positive and negative aspects of their service.
Summary of Positive Feedback
Many users appreciate SecurePay’s robust security features, particularly the SecureGuard encryption that helps protect against fraud and data breaches. The variety of services provided, such as POS systems, eCommerce solutions, and mobile payment processing, are frequently praised for their versatility and dependability. Businesses that prioritize security and comprehensive service offerings generally report positive experiences with SecurePay.
Summary of Negative Feedback
Conversely, some users have expressed dissatisfaction with SecurePay’s customer service and hidden fees. Common complaints include delays in customer support response times, difficulty in resolving issues, and unexpected charges. Issues with fund holds and the complexity of the pricing structure have also been noted as negative aspects by some customers.
Analysis of Common Complaints
The most frequently reported complaints about SecurePay involve customer service challenges, such as slow response times and inadequate issue resolution. Users often have issues with hidden fees and unclear contract terms, as they frequently encounter unexpected charges that were not clearly explained beforehand. Furthermore, certain clients have encountered problems with fund holds that can affect their liquidity and operational functions.
Overall Customer Satisfaction
Overall customer satisfaction with SecurePay appears to be moderate. While the company’s robust security features and comprehensive range of services receive praise, ongoing issues with customer support and hidden fees detract from the overall user experience. Businesses thinking about using SecurePay should consider these factors and carefully examine contract terms to make sure they understand possible costs and support restrictions. This well-rounded method can assist companies in making a knowledgeable choice regarding whether SecurePay aligns with their individual requirements and anticipations.
Complaints and Legal Issues
SecurePay Credit Card Processing has faced several complaints and legal issues, which have influenced its reputation among users. This section provides an overview of the major complaints, any legal actions taken, and how SecurePay addresses these issues.
Overview of Major Complaints
The most common complaints about SecurePay involve hidden fees, poor customer service, and issues with fund holds. Users have reported unexpected charges that were not clearly disclosed in their contracts, leading to dissatisfaction and financial strain. Furthermore, numerous clients have encountered delays in receiving replies from customer service and challenges in promptly resolving their concerns. SecurePay’s practice of temporarily withholding a portion of transaction funds in holding accounts has been a major worry for businesses that depend on steady cash flow.
Legal Actions and Their Outcomes
While SecurePay itself has not been directly involved in many high-profile legal actions, its parent companies and affiliates have faced scrutiny. There have been no significant class-action lawsuits or Federal Trade Commission complaints directly against SecurePay. However, the company’s association with entities that have faced legal issues might influence its overall perception. Legal actions generally stem from the same issues highlighted in user complaints, such as hidden fees and service disputes.
How SecurePay Addresses Complaints
SecurePay attempts to address complaints through its customer support system, which includes a dedicated email ticketing service and a toll-free number. Their 24/7 support is said to be available, but feedback from users indicates different levels of effectiveness. SecurePay advises users to elevate their complaints if their concerns are not adequately addressed during initial support interactions. This escalation process, however, has been criticized for being slow and sometimes unresponsive. SecurePay’s approach to resolving complaints seems to focus on providing additional training for support staff and reviewing their fee disclosure practices to enhance transparency.
In summary, while SecurePay does face several recurring complaints, the company’s efforts to address these issues show a commitment to improving customer satisfaction. Businesses considering SecurePay should be aware of these potential pitfalls and take proactive steps to ensure they fully understand the terms and conditions of their service agreements.
Security Features
SecurePay places a strong focus on security, utilizing multiple advanced measures to safeguard sensitive transaction data and deter fraud. These characteristics are created to give assurance to companies and their clients by guaranteeing secure handling of payment information.
Detailed Look at SecureGuard and Other Security Measures
A standout aspect of SecurePay is its SecureGuard encryption technology. SecureGuard offers increased security by encrypting transaction data at different stages of the payment process, protecting it from unauthorized access and potential security breaches. This technology is essential for transactions where data is entered manually, cards are swiped, and online purchases are made. In addition to SecureGuard, SecurePay employs SSL (Secure Sockets Layer) encryption to further secure online transactions, ensuring that data transmitted between the merchant and the payment gateway is encrypted and protected from interception.
PCI Compliance and Its Importance
SecurePay is fully PCI DSS (Payment Card Industry Data Security Standard) compliant, which is critical for maintaining secure payment environments. PCI compliance involves adhering to a set of security standards designed to protect card information during and after a financial transaction. Any business processing credit card transactions is required to follow compliance regulations. SecurePay’s adherence to PCI compliance involves strict adherence to security protocols: keeping networks secure, safeguarding cardholder data, enforcing robust access controls, and regularly monitoring and testing networks.
Fraud Prevention Strategies
SecurePay employs a range of strategies to prevent fraud and protect merchant accounts. These include real-time transaction monitoring, which helps identify and flag suspicious activities instantly. The company also uses advanced fraud detection algorithms and risk management tools to analyze transaction patterns and detect anomalies that could indicate fraudulent behavior. Additionally, SecurePay provides businesses with tools to set transaction limits and filters, adding another layer of protection against fraud.
Integration and Compatibility
SecurePay Credit Card Processing is created to easily work with a variety of third-party shopping carts and systems, making it a flexible option for businesses with different operational requirements. This feature guarantees that vendors can seamlessly integrate SecurePay into their current eCommerce systems with minimal disruptions.
Integration with Third-Party Shopping Carts and Systems
SecurePay supports integration with numerous third-party shopping carts, including popular platforms such as Magento, WooCommerce, and Shopify. This compatibility allows businesses to continue using their preferred eCommerce solutions while leveraging SecurePay’s robust payment processing features. The integration process is designed to minimize technical issues, allowing merchants to easily and swiftly begin accepting payments.
API Documentation and Developer Support
SecurePay provides comprehensive API documentation that is crucial for developers looking to integrate the payment gateway into custom applications or websites. The API documentation is well-organized and detailed, offering clear instructions and examples to facilitate the integration process. Moreover, SecurePay provides specialized developer assistance to help with any technical difficulties that may come up. This support is made for helping developers in resolving problems and enhancing the integration for efficient and safe payment processing.
Compatibility with Various Business Types
SecurePay is built to cater to a variety of business types, from small retail stores to large eCommerce enterprises. Its flexible integration capabilities make it suitable for businesses in different sectors, including retail, hospitality, and services. SecurePay’s system can handle both in-person and online transactions, providing a unified solution for businesses that operate across multiple channels. This versatility ensures that businesses of all sizes and types can benefit from SecurePay’s secure and reliable payment processing services.
SecurePay guarantees that merchants can effectively adopt and utilize its payment processing solutions by providing a variety of integration options, comprehensive API documentation, and compatibility with various business types.
Contract Terms
SecurePay Credit Card Processing offers a range of contract terms that can vary depending on the specific needs and size of the business. Understanding these terms is crucial for businesses to avoid unexpected costs and ensure that the service aligns with their operational requirements.
Length of Contracts
SecurePay contracts usually last between one and three years. The length of time can change depending on the particular arrangements made when signing up. Businesses must carefully review the length of contracts to ensure they align with their long-term needs and requirements for flexibility.
Early Termination Fees
Early termination fees (ETFs) are a significant consideration when entering into a contract with SecurePay. If a business decides to terminate the contract before the agreed-upon end date, they may incur a fee. This fee can vary but often exceeds $400, depending on the remaining duration of the contract and specific terms outlined in the agreement. Businesses should be fully aware of these potential costs before signing the contract.
Renewal Policies
SecurePay’s contracts often include automatic renewal clauses. This means that unless a business provides notice of cancellation within a specified period before the contract’s end date, the contract will automatically renew for another term. It is crucial for businesses to understand these renewal policies and set reminders to review their contracts before they auto-renew to avoid unwanted extensions.
Flexibility and Customization Options
SecurePay offers some degree of flexibility and customization in their contract terms. Businesses can negotiate specific aspects of their contracts, such as the inclusion of additional services or adjustments to standard fees based on transaction volume and business type. This customization can be beneficial for businesses with unique processing needs or those looking to tailor their payment processing services more closely to their operational requirements.
Overall, understanding SecurePay’s contract terms, including the length of contracts, early termination fees, renewal policies, and flexibility options, is essential for businesses to make informed decisions and avoid potential pitfalls. Careful review and negotiation of these terms can help businesses ensure that their payment processing services align with their needs and expectations.
Pros and Cons
Businesses should carefully weigh the pros and cons of SecurePay Credit Card Processing before making a decision to use their services. This presents an impartial assessment of the advantages and disadvantages of utilizing SecurePay.
PROS
- Robust Security Features: SecurePay is known for its strong security measures, including SecureGuard encryption and PCI compliance, which help protect sensitive transaction data from fraud and breaches. These features provide peace of mind for both merchants and customers.
- Comprehensive Service Offerings: SecurePay offers a wide range of services, including payment gateways, POS systems, eCommerce solutions, and mobile payment processing. This comprehensive suite of services makes it a versatile option for businesses of all sizes and types.
- Flexible Mobile Payment Options: SecurePay enables businesses to accept payments on mobile devices, including support for EMV and mobile wallets such as Apple Pay. This adaptability is especially advantageous for companies with operations in various places or require mobile transaction processing.
- Reliable POS Systems: SecurePay’s POS systems are equipped with essential features such as sales tracking, inventory management, and analytical reporting. These systems help streamline in-person transactions and enhance overall business operations.
CONS
- Potential Hidden Fees: One of the main concerns with SecurePay is the presence of potential hidden fees. Some users have reported unexpected charges that were not clearly disclosed in their contracts, which can lead to financial strain and dissatisfaction.
- Mixed Customer Reviews: SecurePay has received mixed reviews from users. While some praise the security and range of services, others have expressed dissatisfaction with customer support and hidden fees. These varying experiences can make it difficult to gauge the overall reliability of the service.
- Limited Direct Customer Support: Despite advertising 24/7 customer support, SecurePay’s support team has been criticized for being unresponsive and ineffective by many users. Relying on an email ticketing system may cause issues to be resolved later than expected.
- Complicated Contract Terms: SecurePay’s contract terms can be complex, with automatic renewal clauses and significant early termination fees. Businesses need to thoroughly review and understand these terms to avoid unexpected costs and commitments.
In short, SecurePay provides strong security measures and a wide array of services; however, users should be mindful of possible concealed charges, varying customer feedback, restricted direct assistance, and complex contractual conditions.
Comparison with Competitors
SecurePay faces competition from several key players in the market, including Square, Stripe, and PayPal. Compared to these competitors, SecurePay offers robust security features and a comprehensive suite of services, but it also has potential hidden fees and mixed customer reviews. Square and Stripe are often praised for their transparent pricing and excellent customer support, whereas SecurePay’s customer service has received criticism. SecurePay’s flexible mobile payment options and reliable POS systems are strong points, but its complicated contract terms may deter some businesses. Choosing SecurePay over competitors largely depends on a business’s specific needs and priorities.
Conclusion
SecurePay provides strong security features and a wide range of services, catering to various business requirements. Nevertheless, significant weaknesses include possible hidden charges and inconsistent customer feedback. Before opting for SecurePay, businesses should thoroughly assess their individual requirements and review contract terms to ensure they meet their expectations.
FAQs for SecurePay Credit Card Processing
How does SecurePay handle high-risk transactions and prevent fraud?
SecurePay utilizes its proprietary SecureGuard encryption technology and real-time transaction monitoring to safeguard high-risk transactions. These advanced security measures help detect and prevent fraudulent activities, ensuring that sensitive data remains protected throughout the payment process. Additionally, their system supports multiple layers of authentication to further enhance transaction security.
What kind of support can I expect during the integration of SecurePay with my existing eCommerce platform?
SecurePay provides comprehensive API documentation and specialized developer support to assist with the seamless integration of their payment gateway into your existing eCommerce platform. Their support team is available to address any technical challenges and ensure that the integration process is smooth and efficient, allowing your business to start accepting payments with minimal disruption.
Can SecurePay assist businesses that need immediate capital for growth or unexpected expenses?
Yes, SecurePay offers merchant cash advances, providing businesses with quick access to capital based on their future sales. This service is designed to help businesses manage cash flow, invest in growth opportunities, or cover unexpected expenses without the lengthy approval processes associated with traditional loans. The repayment is flexible and tied to your daily credit card sales, making it a convenient option for maintaining operational stability.
