Circle Review

Rates and Fees
70/100
Truth in Advertising
70/100
Consumer Reviews
75/100
Customer Support
60/100
3

Best for

Merchants who own and operate online businesses who are in need of payment processing services.

Specializes in

Circle specializes in payment processing services for internet businesses. This company also provides a way for merchants to send payouts on a global scale using one unified platform.

Pricing Summary

Setup Fee: Credit card transactions are charged at 2.9% + $0.30 per transaction.

Monthly Fee: N/A

Swipe Rate: N/A

Keyed-in Rate: N/A

Early Termination Fee : N/A

Contract Terms:

Unknown
Visit Circle

Circle is a company that was launched in 2013 as a peer-to-peer international money transfer service.

Similar to Square Cash and Venmo, Circle has a free mobile app called Circle Pay, which enables users to pay each other using credit cards, debit cards and bank accounts that have been linked to the app.

Circle is headquartered in Boston, Massachusetts, and the company’s CEO is Jeremy Allaire.

Circle Overview

 

Circle is a company that offers international money transfers for individuals as well as for merchant customers. The company offers the Circle Pay app, which is similar to Square Cash and Venmo.

Circle was founded in 2013 as a way to offer peer-to-peer payment transfers. Since that time, the company has expanded its offerings to merchants with internet-based businesses to allow them to accept payments for goods and services as well as to send out payouts under one platform.

The company uses USD Coin (USDC) as its method of exchange, and this represents a breakthrough in how money is used online.

Quick Facts

Head Quarters

Boston, Massachusetts, United States

Year Founded

2013

CEO

Jeremy Allaire

Employees

Unknown

Merchant Provider Risk Tolerance

Low Risk Businesses

What We Like

Simple code in a POS makes Circle Pay a payment option.

World wide payment option.

All payment options can run through Circle Pay because it utilizes USD.

Free setup for all accounts.

Upfront about fees per transaction.

What We Don't Like

Charges extra for merchant services.

F Better Business Bureau rating.

High level of complaints.

Unaddressed customer complaints.

No mention of fraud prevention or warnings.

Industries Served

  • Online Sellers

Business Types Served

  • Mobile
  • Online

Circle Products & Services

 

Hardware & Software

Circle is very different from merchant account providers in that it does not rely on POS systems or credit card terminals. Rather, the company offers API keys to developers so they can quickly add code to their own systems and online gateways.

With this addition, merchants are incorporating an additional way for their customers to pay for their products and services in 30 different countries by partnering with the Visa-certified network of USDC Partner Wallets.

Value Added Services

Merchants who have integrated Circle in their POS systems or payment gateways have the option of sending money as well as receive it from their customers.

Circle also offers SeedInvest, which is a way for merchants to raise money for their startups from investors located all over the world.

Supported Payment Types & Services

Merchants doing business with Circle are able to accept multiple forms of payment, which are all accepted in the form of USDC and then converted into the merchant’s own local currency, including:

Credit cards (Visa, Mastercard, Discover, and American Express)
Debit cards
Checks
ACH payments
Bank wires and transfers

Circle Payment Processing

  • Cash Transactions
  • Credit Card Processing
  • Credit Card Terminals
  • Mobile Commerce
  • Mobile Payments App
  • Online Payments
  • Payment Gateway

Circle Billing & Invoicing

  • Mobile Payments
  • Online Invoicing
  • Online Payments

Circle Advertising & Sales

 
Circle does not use any misleading marketing or rate quotes on the company’s website. This company also does not utilize the services of independent resellers in order to market its services.

This company does not utilize the services of independent sales agents or contractors. The company’s website repeatedly reiterates that its services are free, but this statement is misleading. Circle does not charge a markup on funds transfers, but it does on many of its merchant services.

Truth in Marketing

Discloses All Important Terms

Yes

Public Pricing Available

Yes

Circle Pricing, Rates & Fees

 

Opening a Circle account can be done free of charge. Its pricing and fees are as follows:

Credit card transactions are charged at 2.9% + $0.30 per transaction.
Customers are billed $10 for every failed or reversed transaction and $50 for all unauthorized transactions.
Bank wires are charged at a rate of $2 for every successful wire.

This company does not list any rates for early termination or PCI compliance.

Pricing at a Glance

Pricing Model

Unknown

Swiped Rate

N/A

Keyed-in Rate

N/A

Mobile Payment Rate

Unknown

Virtual Terminal Rate

Unknown

Monthly Fee

N/A

Payment Gateway Fee

Unknown

Batch Fee

Unknown

Early Termination Fee

N/A

PCI Compliance Fee

Customers are billed $10 for every failed or reversed transaction and $50 for all unauthorized transactions.

Equipment Lease Terms

N/A

Address Verification Service (AVS)

Unknown

Application Fee

Unknown

Account Setup Fee

Credit card transactions are charged at 2.9% + $0.30 per transaction.

Gateway Setup Fee

Unknown

Annual Fee

N/A

Monthly Minimum

N/A

Statement Fee

Unknown

Circle Contract & Terms

Merchants doing business with Circle will not have to worry about contracts and terms. The company’s website does not mention them at all. It appears that they abide by a pay-as-you-go system that also does not require a minimum amount of transactions each month.

Contract Length

Unknown

Early Termination Fee

N/A

Circle Setup & Support

 

On the company website, Circle states that merchants will be able to begin accepting payments as soon as the first day they sign up for the service. This indicates that integrating with the company’s API is a quick and easy process for most developers.

Merchants who wish to integrate with Circle for the purpose of accepting payments for products and services have access to customer service via phone, chat and email. The website also includes a dedicated support page that offers answers to frequently asked questions as well as additional, helpful information.

Setup Highlights

  • Documentation / Knowledge Base

Support Highlights

  • Domestic Phone Support (Business Hours)
  • Email Support

Circle Complaints, Ratings & Reviews

BBB Rating

Circle is not accredited with the Better Business Bureau and the company currently has a rating of F on the BBB website. This rating is most likely due to the relatively high number of complaints that customers have lodged against the company. There have been 26 in the span of three years.

21 of these complaints were related to the company’s products or services and three were related to billing or collections issues. The others were regarding advertising, sales and delivery problems. Only one of the complaints was successfully resolved while the others remain unresolved and/or were not addressed at all.

Other Online Reviews

Circle has a relatively high volume of online complaints and negative reviews. Some of them accuse the company of being a ripoff or a scam. The company has a 4 out of 5 rating with the Google Play Store that is based on more than 10,000 reviews. Complaints mention issues such as failed transfers, holding of funds and poor customer service.

Ratings

BBB

F and This Business is not BBB Accredited. (0 Reviews; 30Complaints)

Google

N/A

Facebook

No Reviews

Yelp

N/A

Reviews

Total Online Reviews

Unknown

Total Online Complaints

30+

Lawsuits

Unknown

Circle Alternatives

NEED A MERCHANT ACCOUNT PROVIDER?

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

cogthumbs-upcheckmark-circlecross-circle