Best for
All types of companies are looking to streamline their operations and lower their monthly costs.
Specializes in
Offering a one-stop-shop for merchants. Their goal is to simplify the whole process from start to finish by offering cutting-edge technology fused with top-rated customer service.
Pricing Summary
Setup Fee: $0
Monthly Fee: $19.99
Swipe Rate: 2.39% + $0.29 (Debit) ; 2.89% + $0.29 (Credit)
Keyed-in Rate: 2.39% + $0.29 (Debit) ; 2.89% + $0.29 (Credit)
Early Termination Fee : None
Contract Terms:
PayLeap was founded in 2008.
They are headquartered in Warsaw, IN.
Scott Miller is listed as the president/CEO.
When Mr. Miller founded the company back in 2008 he set out to create something that would make his clients’ lives easier.
The company he created aims for versatility as they offer everything from the card to the merchant account. The credo of the organization is to simplify. The less a merchant has to worry about their processor, the more they can devote their energy to building a better business.
A subsidiary of First Data, PayLeap can handle businesses of any size.
With a low complaint total, PayLeap has demonstrated the value of putting customers and their well-being first. They aim for transparency and to date have managed to hold onto that goal.
Head Quarters
Warsaw, Indiana
Year Founded
2008
CEO
Chris Walmer - Director of Operations
Employees
10
Merchant Provider Risk Tolerance
Hardware and Software
PayLeap offers a wide range of payment options to cover brick and mortar businesses, mobile businesses, and eCommerce merchants. Their goal appears to replace leased terminals with free virtual terminals run from merchant laptops, computers, tablets, and phones.
While this is not necessary to increase business, they push it as a lower-cost option.
According to their website, they also integrate their payment gateways with any existing POS system.
They do not specify any physical terminals, which indicates they either integrate with existing systems or utilize their free virtual terminals.
Value-Added Services
PayLeap offers a wide helping of value-added services. Most are geared toward building business, but a few are just there to help vendors.
Recurring Billing - this establishes a payment cycle with a merchant’s clients and keeps the collections professional.
Gift Cards - build brand awareness and draw in new customers.
Secure Vault Storage - offers customers peace of mind by taking data security to the next level.
Live Training and Support - a few processing companies offer 24/7 live tech support. PayLeap took it to the next level with live training as well to increase customer potential.
Custom Branding - along with gift cards, custom branding helps a business create immediately recognizable brand awareness.
Growth Advantage Tools - back-office analytics are important for businesses to understand how their processing is being completed and learn how to streamline and increase their revenue stream.
O-Desk - a partner or PayLeap, this service helps merchants establish themselves in the eCommerce market through web development.
Supported Payment Types and Services
According to their website, PayLeap accepts all major credit card types plus several more options.
Visa
Mastercard
Discover
American Express
Debit
Check
ACH
Gift Cards
Discloses All Important Terms
No
Public Pricing Available
No
PayLeap appears to be one of the few companies to post their pricing on their website. They do, however, make it known that the interchange-plus pricing presented is a starting place. It appears that the rates could alter some depending on the business type, size, and risk.
Pricing for PaySecure is 1.89% plus $0.29 per transaction.
Regular credit transactions are listed at 2.89% plus $0.29 per transaction.
Debit transactions come in at 2.39% plus $0.29 per transaction.
According to the webpage, there is no setup fee for any of these rates, just a $19.99 monthly charge.
These rates seem on par with most large merchant account processors. As with any price in the credit card industry, there is always room for negotiations.
There are no other listed fees, however, there may likely be some in the contract.
Pricing Model
Flat Rate
Swiped Rate
2.39% + $0.29 (Debit) ; 2.89% + $0.29 (Credit)
Keyed-in Rate
2.39% + $0.29 (Debit) ; 2.89% + $0.29 (Credit)
Mobile Payment Rate
1.89% + $0.29
Virtual Terminal Rate
1.89% + $0.29
Monthly Fee
$19.99
Payment Gateway Fee
Undisclosed
Batch Fee
Undisclosed
Early Termination Fee
None
PCI Compliance Fee
None
Equipment Lease Terms
N/A
Address Verification Service (AVS)
Application Fee
Account Setup Fee
$0
Gateway Setup Fee
None
Annual Fee
Monthly Minimum
$14.99 Per Month (ACH Processing Fee)
Statement Fee
$10 Per Month
Reading into the information on the website, there is nothing more than a month-to-month contract. Because of this, there is no early termination fee.
There are no other references to contracts to be found either on the company website or in outside reviews.
Contract Length
Month-to-month
Early Termination Fee
None
Since all of the setup involves integrating systems and underwriting from a large firm, a merchant can likely have their account up and running within a day or less.
Support looks to be email, phone, and live chat. There are also references to live training to help merchants utilize the full potential of their new systems.
BBB Rating
A+
PayLeap does have a Better Business Bureau profile, but their company is not accredited. There are no reviews or complaints available on the BBB website.
Other Online Reviews
In the fifteen-year history of the company, there is only one complaint to be found on any outside review sites.
BBB
A+ and is not BBB Accredited. (0 Reviews; 0 Complaints)
No Reviews
N/A
Yelp
N/A
Total Online Reviews
10+
Total Online Complaints
Lawsuits
None
If you're in the market for a merchant account provider, be sure to check out our user reviews, our merchant accounts guide and our top popular merchant provider picks