Best for
Small to medium businesses of all risk levels looking to improve their merchant processing model.
Specializes in
Building partnerships with companies who are trying to streamline their financial process. They are a family-owned business and seek to carry that level of trust to their merchant partners.
Pricing Summary
Setup Fee: Undisclosed
Monthly Fee: Undisclosed
Swipe Rate: 1.00% - 4.99%
Keyed-in Rate: 1.00% - 4.99%
Early Termination Fee : Undisclosed
Contract Terms:
The CEO is Dick Spigai.
The company was founded in 2014. Before that date, it was under the name FSI Merchant Services.
Their home office is located in Clark, NJ.
Originally established in 2012 under the name FSI Merchants Services, the company only took two years to change their name to On the Mark Payments.
They pride themselves on being a family-run business and they are not wrong, four out of seven board members are related.
The company offers both standard and zero-fee processing. They claim to work with individual merchants like an old-school family business. Their stated goal is to find a way to streamline credit card processing for their clients.
They have had no complaints on the Better Business Bureau website in the past three years and seem to conduct themselves as if their family name was on the line.
Head Quarters
Clark, New Jersey
Year Founded
2012
CEO
Richard Spigai
Employees
10
Merchant Provider Risk Tolerance
Hardware and Software
They offer a variety of payment options that range from face-to-face payments to online payments.
Countertop Terminals
Virtual Terminals
Mobile Terminals
POS Terminals
Website Processing
They do not go into great detail under each of these headings other than to offer a quick rundown of what the individual terminal offers. They do not disclose if they give multiple processor options in each category or if they perhaps farm it out to a third-party equipment distributor.
Value-Added Services
They are partnered with On the Mark Communications, which can help a merchant establish an online presence. This company is a graphic design and marketing team.
Through On the Mark Communications, it appears that loyalty cards are offered.
Beyond this partnership, they do not seem to offer any other value-added services.
Supported Payment Types and Services
There is no information listed on the company website as to what payment types they currently accept. It can be assumed that they work with the four major credit cards and debit cards. Based on the type of equipment they show, it appears they accept tap payment from digital wallets.
There is a reference to accepting MOTO payments through CardX which appears to be a subsidiary of the parent company.
Discloses All Important Terms
No
Public Pricing Available
No
Once again, there is virtually no information about pricing to be found on their website. All potential pricing and fees are pure conjecture.
They do advertise no-fee processing as an alternative to traditional credit card processing. While they do not go into specifics, this usually means the fees are passed on to the merchant’s customers and comes with its own set of problems.
From their own words, it appears that they have flexible rates that shift to fit individual merchants and their risk factors.
Based on outside reviews it would appear that several fees are a regular part of their billing structure. However, there is no information on their website to confirm or deny this claim.
Intelligent rate processing has its page on their website and appears to be specifically crafted to work for municipalities and schools. Much like the zero-fee pricing for merchants, this allows the above clients to pass on the fees to their consumers. With this software, the exact charge can be determined and passed on to the card owner.
Pricing Model
Tiered Pricing
Swiped Rate
1.00% - 4.99%
Keyed-in Rate
1.00% - 4.99%
Mobile Payment Rate
Virtual Terminal Rate
1.00% - 4.99%
Monthly Fee
Undisclosed
Payment Gateway Fee
Undisclosed
Batch Fee
Undisclosed
Early Termination Fee
Undisclosed
PCI Compliance Fee
Undisclosed
Equipment Lease Terms
Undisclosed
Address Verification Service (AVS)
Application Fee
Undisclosed
Account Setup Fee
Undisclosed
Gateway Setup Fee
Annual Fee
Monthly Minimum
Undisclosed
Statement Fee
Undisclosed
No reference to contract terms. However, there are no references to unfair contract lengths or early termination fees.
There may be equipment leases. This also is unclear in their literature.
Contract Length
Variable
Early Termination Fee
Undisclosed
They claim merchants can be up and running in a few days, however, this may not be fully accurate as merchant accounts often take days to weeks for the underwriting process to be completed.
There is no specific customer help page, however, they provide a phone number and email at the bottom of every page. There are no complaints about customer or tech support. Based on the family-oriented focus of the company it can be assumed that they pride themselves on putting their customers first.
BBB Rating
A+
They do maintain a Better Business Bureau profile and while there seems to be limited customer interaction, they don’t appear to be doing anything to hide their business from the public eye.
Other Online Reviews
There is only a single complaint to be found in the company’s ten years of existence. That complaint just mentioned an unexpected fee.
BBB
A+ and has been Accredited since 2014. (0 Reviews; 0 Complaints)
3 Stars / 2 Reviews
No Recommendations Yet
Yelp
5 Stars / 1 Review
Total Online Reviews
10+
Total Online Complaints
Lawsuits
None
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