What does Slice Merchant Service offer?
A credit card payment processing company named Slice Merchant Service is headquartered in New York. The Company must not be confused with a synonymous name SlicePay, an Indian Loan Company. What Slice Merchant Service offers is like other competitors in this category. The Company deals with credit and debit card payment processing services and follows the surcharge model. Moreover, an interesting fact to note is that the Company works on the cash incentive program. The Company has already acquired a business of $7 billion on an annual basis.
|Overall Summary of Slice Merchant Services|
Origin, Headquarters, and Owner:
Slice Merchant Company is based in 132W New York, NY, an ISO registered business platform. The Company was founded back in 2018, and the current CEO of Slice Merchant is Alexander Groyzburg.
What’s Unique? The Surcharge Model
First things first, what is a surcharge model? A surcharge model is where a consumer will be charged an additional amount to deal with the transaction fee when paying the fee via debit or credit card.
Slice Merchant Service is working on the Surcharge Model, and the Company can waive off the credit card processing fees. In this model, a charge of 3.99% will be passed on to the consumer. To overcome this cost, the consumer can pay with cash, and a 3.99% discount will be given to the purchaser or consumer. There will be no charge or fees associated with Slice’s surcharge model for now. Although, the Company is charging a heavy amount of fees on the POS equipment rentals.
Moreover, the Company is also acting as a reseller which means the Company is a direct processor for the merchants and other businesses. The Company acts as a reseller for POS system companies like Clover, Paradise, Adelo, and more.
Slice Merchant Services Offers:
Slice Merchant Services offers a variety of amenities to businesses, no matter they are at the entry-level or the enterprise level. Slice’s major focus is on the POS system, but the Company also offers hardware. Thus, any business can acquire benefits from both the software and hardware solution provided by the Slice Merchant services.
Here’s what the Slice Merchant has to offer more:
Hardware and Software Solutions:
Although Slice’s main focus is on the point of Sale (POS) service system, the Company’s official website cannot provide information on this payment gateway. Apart from offering software solutions, Slice Merchant is also dealing in hardware. The website has the following hardware solutions to offer:
These terminals or payment gateways work well for food businesses such as restaurant chains and grocery stores.
Slice also offers the Clover POS system where any business owner can set appointments, offer their services, provide bookings to customers, and manage all business-related stuff.
Paradise POS System:
Slice Merchant also offers this virtual gateway or system where any business owner can utilize the iPad or other digital devices to manage the business. This model works best for retailers, restaurants, and grocery stores.
Cash Incentive Program:
One noticeable attribute for the Slice Merchant services is their cash incentive program. In this model, consumers or customers will pay for the debit and credit card payment processing fee, and the merchant will have to pay nothing. The consumer can also pay via cash to avoid the additional charges. Thus, zero payment processing fee will benefit the merchants.
Every business need capital fund to grow and become top of the list in its category. Slice Merchant has got you covered with the capital funds problem as well, where the merchants can be provided with the extra funds up to $500,000. The business owner can apply for free, and there will be no additional fee by which a merchant’s account can be affected.
How much does Slice Merchant Service Cost? [Fees and Charges]
Contract Length or Termination Fee:
The Company offers an equipment contract package for 48-months with a surcharge rate of 3.99%. There are several online reviews for the contract length and regarding the termination fee of the Slice Merchant stating that the Company’s rates are false. The consumer complains that the Company’s POS system monthly costs on the website are different from those offered at the time of contract. Moreover, an additional $500 termination fee will be charged to end the contract, far more than other merchant services.
Negative Reviews and Complaints:
There is a mixed response in the Company’s review on the internet. Some state that the Company is a complete fraud and the terms and conditions at the time of contract are all different from the one being told at the time of quotation. On the contrary, an equal number of reviews can be seen supporting the Company’s services.
Has Company Faced any Fines? [Lawsuits and Fines]
There is no evidence for any action lawsuit and fine history for the Slice Merchant.
There is a mixed response for the Slice Merchant’s services on the internet. The Company is being appreciated as the direct processor and serving the merchants with the surcharge model, software, and hardware solutions and offering capital funds investment. On the contrary, reviews stating that the Company is complete fraud also circulate. The consumer and merchants complain that the Company misleads in terms & conditions and pricing plans. There is also negative feedback regarding the customer service support of the Slice.