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Merchant One Review 2022 – Top 10 Credit Card Processors

When you start a business, it’s easy to forget to account for processing fees. It’s until you start charging customers for your services or products that you realize you need a card processing platform. Finding a reliable merchant account provider that’s also affordable for a small business is tricky. Merchant One is a processing company with one of the easiest approval processes. They can help you accept various credit cards from customers to make the payment process easier. Customer satisfaction is what all companies, new and old, strive to achieve. You can’t compete with other companies in your industry if you don’t allow customers to pay however they want. Read on to find out if MerchantOne is the right company for you by examining its features and services.

The Verdict
Merchant One Merchant One

Merchant One is an established credit card processing company that offers seamless integrations and a wide range of features. They combine exceptional services with cutting-edge technology to help merchants process credit cards. You should choose the type of processing that fit your business. Take advantage of the free tools and hardware available to make the most of their services. There is no free trial, so ensure you do your due diligence before entering the three-year contract. Making the wrong choice can cost you a lot of money in early termination fees.

Pros:
  • Plenty of integrations are available.
  • It’s easy to qualify even with a not-so-perfect credit score
  • They offer a wide range of POS solutions
  • Interchange plus pricing available
  • Several card processing options to pick from
  • Incredible customer support
Cons:
  • Three-year contract
  • Early termination fees
  • The pricing models are vague

About Company

Merchant One is a Miami-based credit card processing company. They are a registered independent sales organization from the Wells Fargo Bank. They offer custom packages that suit different businesses. Merchant One processing fees are affordable, and their lenient application standard favors many businesses. They approve almost 98% of their applicants. Try this company if you have been denied merchant services because of bad credit. They have helped businesses with less than perfect credit cards. They serve different industries, including eCommerce, hospitality, retail, and restaurants. They claim to serve more than 100,000 merchants. These are impressive numbers and an attribute to the kind of services they offer.

Credit card processing can be overwhelming, especially when running a big business. But MerchantOne offers multiple solutions that make everything easy. The options are endless; it can even be hard to know which features will be most valuable for your company. Besides the full slate of features, they also stand out because of their seamless integrations. Ensure you read your merchant processing agreement carefully when you sign up. From the Merchant One reviews, some customers claim there is a three years contract that they don’t mention when you sign up. They claim there are no early termination fees but based on the complaints; you will pay a hefty amount when you want to unsubscribe from the contract.

The misleading claims around termination fees and contracts are many for a company its size. But the company has still managed to maintain its A+ rating on BBB. However, the positive side is that the company also offers POS systems, virtual terminals, a customer vault, and swipers. The company was founded in 2002; they have developed some lasting solutions for companies in need. The company offers a robust set of features that are hard to deny. To learn more about the company, check out their services.

Services

Merchant One has several services that help all businesses, from startups to well-established organizations. You will choose the features you want when you get a custom quote from the company. They will give you a quote based on the information you provide them about your company. Ensure you choose features and services that are important for your business.

  1. Payment Gateway

Merchant One gateway service offers fraud detection, data security, and other tools to make you successful online. Some of the key features that come with the service include a customer vault and a virtual terminal. These features allow you to securely store card information from customers for reuse. You can automatically bill returning customers who make the payment process easier. You can also incorporate ‘buy now’ buttons on your website. There is also an invoice generator that comes with the Merchant One gateway service. Payer authentication and robust API features are also available. Your business can practice online, mobile, or self-service payments. You will finally be able to give customers options. You will get pre-certified payment devices from some of the major manufacturers. You can deploy full credit card payments on your terminal over the shortest time.

  1. POS System

Like most credit card processing companies, MerchantOne also offers point-of-sale systems. Their Clover station has multiple points of sale solutions to pick from. The Clover Flex equipment is an all-in-one system that allows you to do everything you need with the device. If you take payments from different locations, you can buy a system that allows you to move easily. Some of the devices in their collection will allow you to manage your staff and inventory. The Clover payment stations are more advanced, but if you want a simple card reader, you can pick from their basic card reader terminals. The terminals come when they are NFC and EMV ready. You can connect the terminals using a phone line or Ethernet cable. Some of the terminals are free; you will get them as a bonus when you start using Merchant One services. When your business is new, it’s easy to underestimate the power of having a great credit card processing terminal. But you will learn their value as the business grows.

  1. Analytics And Reports

You have probably noticed that most companies offer reports to help upcoming businesses achieve much more in their industry. Merchant One credit card processing company will give timely reports based on your account activities. This information is handy when you want to learn more about your customers. After receiving the analytics, you will know which solutions work better for your clients.

  1. Software Integrations

Integrations will make your life easier. The wide range of integrations Merchant One offers is impressive. There are many eCommerce tools you will gain from integrations, including Shopify. You can integrate the payment system with over 300 different apps. There are accounting apps available that can make it easy for you to stay on top of your finances. After the new features that Merchant One launched, it will be easier for you to add more apps and software. You will also get CRM programs like HubSpot, Salesforce, and Zoho available for integrations. Customizing your services will be a breeze when you have all the tools at your disposal.

  1. Electronic Signature

Electronic signatures are becoming more and more popular with businesses. You will start using electronic signatures if you work with Merchant One credit card processing. These are more convenient, especially when you want to use less paper. Electronic signatures can be done anywhere at any time. If you have remote workers, this is the best approach to get signatures from employees. It’s also a fast and cost-effective method of handling documents. An electronic signature can be used for several applications. You can use it on installation packages, email messages, and many different data files.

  1. PCI Compliance

When you accept credit cards from customers, you have to think about data security standards. Merchant One offers a credit card vault where you can securely store customer information. You need to be careful when retaining card information because if you breach customer trust, you might lose valuable clients and get in trouble with the law. MerchantOne will set you up with a credit card processing system and help you remain PCI compliant. They have advanced security features, including fraud detection. Proactively protect your apps to avoid any cases with your clients.

Plans And Pricing

Merchant One doesn’t disclose all its rates and prices. That’s probably why most complaints are centered on undisclosed card processing fees. They use a tiered pricing structure; the best way to understand their rates is to reach out to their representative. However, they have some rates listed on the website, giving you a hint of what to expect. These are the pricing or rates you should be aware of.

Early Termination Fees

When you sign up with Merchant One, you will agree to a three-year contract. If you walk out of the contract early, you will be hit with an early termination fee. Merchant One reviews on BBB claim the early termination fees can be as high as $ 750. But that is not definite since they claim there are no termination fees. When you buy their services be ready to commit to the full contract term. You will be charged early termination fees if you acquire upgraded Clover equipment and cancel their services within a year. If you want to avoid the hefty early termination fees choose the free gateway.

Monthly Fees

The monthly fee is $ 6.95 when you subscribe to the base plan. Most Merchant providers have monthly payments. Merchant One fee is much lower than what competitors charge. But they also have a $ 99 annual fee which will increase the monthly fee.

Transaction fees

There are different rates for in-person and keyed-in transactions. For credit or debit cards that your customers swipe, tap, or dip into your POS terminal or card reader, they will charge you 0.29% to 1.55% per transaction. That means your company will be charged depending on your monthly volume. The cost will also depend on whether you need a POS system. It will also depend on whether you lease or buy equipment.

When you manually enter credit card numbers into the virtual or POS terminal, Merchant One will charge you 0.29% to 1.99% per transaction. It’s possible to renegotiate the rates if your business circumstances change. You can contact the Merchant One financial team and explain the changes in your business.

Equipment Costs

Unlike most merchant account providers, MerchantOne will give you a basic terminal for free if your business processes $ 1000 per month or more. You will have four options to pick from depending on the scale of your business. Remember, these basic terminals may not have all the advanced features you need. If you feel the free terminals don’t suit you, you can upgrade to Clover terminals with all the latest features. You should get a quote from Merchant One on how much the advanced terminals cost.

PCI Compliance Fees

The PCI compliance fee is included in your $ 6.95 monthly payments. The company sends all their merchants reminders to ensure they stay PCI compliant. They use a third-party company to ensure PCI compliance. You will have access to a PCI compliance portal to keep an eye on everything.

Gateway Fees

If you choose the free terminal, the gateway fee will be $ 5. But there will be no gateway fee if you go for the mobile reader. That is something you will have to consider when you are setting up your account because it affects the overall rates.

Most of these rates are qualifying rates. To get the full rates, ensure you consult your merchant processing agreement. That is where you will learn the terms, fees, and overall costs. If you can speak to a Merchant One representative, they can also break everything down for you. But these will give you an idea of what to expect as a Merchant One customer.

Frequently Asked Questions

How Secure Is Merchant One?

Merchant One is secure; they have all the modern security features you would expect from a merchant account provider. They have a secure customer vault where you can retain clients’ information. Data encryption and fraud detection are also part of the security features. On top of all these features, they also have a support hotline you can use to reach them when you have an issue.

Is Merchant One Great For Small Businesses?

It depends. Most small businesses have a limited budget and are usually looking for cheaper alternatives. If you want more affordable alternatives, you will find other companies willing to accommodate your needs. But it’s also essential to look for a secure credit card processing company, which is what Merchant One offers. They are secure and will help your business grow. They also have free hardware that will be a boost for any startup. Merchant One reviews can determine if the company is right for you.

What Are Some Of Merchant One Alternatives?

Helcim, Square Payments, and Heartland Payment Systems are some alternatives you can explore. Merchant One may not be right for all businesses; it’s only right that you have other options to look at. But you have to consider that the company has been around for a while and might have superior features to most companies. If the costs favor you, they might be the best option. But if you feel like the costs or the services are lacking, explore these three options and many others you will find before making a decision.

Does The Company Have An App?

Merchant One does have an app that allows mobile credit card processing. It’s an excellent addition for remote workers and businesses that don’t do business in a single location. It allows you to process payments from customers anywhere. Merchant One credit card processing can also integrate with many other software and apps to give you ultimate convenience.

Does Merchant One Have A Free Trial?

MerchantOne doesn’t have a free trial. But they say you can cancel their services anytime, which means you won’t have to sign a year-long contract to sample their features. However, if you opt for a program with the Clover POS system, you will need to commit for three years. If you are not seeking a commitment, don’t go for the Clover equipment.

What Is Merchant One Customer Service Like?

They offer 24/7 customer service; you can reach them via email, phone, text messaging, and live chat. They have additional guide resources that customers can refer to when they run into problems. Support is essential, especially when you are dealing with technical issues.

Is The Company Right For You?

Merchant one can be a great company if your business processes at least $ 1000 a month. They have free devices and multiple integrations to improve your business finances. They also have plenty of advanced payment processing features that might be useful to you. They serve thousands of merchants across the country. Most of these accounts are small, midsized businesses that want sophisticated credit card processing features. The customer support is also great and is available 24/7. You can rely on their help whenever you run into issues. But that is not all you should consider when looking for a merchant account provider. You also need to consider costs.

Merchant One processing fees might not be the most favorable, but it’s still worth considering. They have made their rates difficult to understand, which is why most merchants have problems with them. There are a dozen of reviews with complaints. But it’s always better to make your own inquiries before signing up for the services. However, their willingness to work with small businesses and those who are turned away by other companies make them prominent in the industry. With all these things considered, it should be easy to tell if Merchant One is right for you.

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