Best for
Merchants that are considered to be standard-risk to high-risk.
Specializes in
Finical, Inc. specializes in working with standard to high-risk merchants to provide them with payment processing services. They have clients in both the United States and in Canada.
Pricing Summary
Setup Fee: N/A
Monthly Fee: Unknown
Swipe Rate: 1.00% - 4.99%
Keyed-in Rate: 1.00% - 4.99%
Early Termination Fee : Undisclosed
Contract Terms:
Finical Inc. was once known as Prudential Payment Systems. The company is a registered ISO of Wells Fargo Bank.
In November 2016, Finical Inc. acquired Safeguard Bankcard, LLC, which was a payment processor in Atlanta, Georgia.
Some online resources indicate that the company has been in business since 1999, but most claim that it was founded in 2012.
Finical Inc. was formerly known as Prudential Payment Systems. The company is a merchant account provider that is known for servicing standard to high-risk merchants. They operate in both the U.S. and Canada.
Some evidence suggests that Finical Inc was once a reseller of CardPayment Solutions, which was a reseller of iPayment. But the company’s CEO denies any affiliation with either company.
Aaron Nasseh is the CEO of Finical Inc, which was originally headquartered in California, but today, it is located in Dallas Texas.
Finical Inc is a registered ISO with Wells Fargo Bank of Concord, California. Their website states that they currently work with thousands of merchants in many different types of industries.
Head Quarters
5429 Lyndon B Johnson Fwy Suite 725, Dallas, TX.
Year Founded
1999
CEO
Unknown
Employees
Unknown
Merchant Provider Risk Tolerance
The company offers free equipment for businesses that need to process payments in person.
They provide security monitoring services to all businesses.
Finical offers a short underwriting period (24 hours) for most businesses.
Businesses are assigned dedicated customer service reps for personalized service.
Most online reviews are favorable.
Equipment lease terms are locked at 48 months.
This company does not have an inside sales team and only works with contracted sales agents.
They may advertise misleading rates that are lower than they are.
Finical has cash discount and surcharge programs and advertises free processing, which isn’t 100% true.
The company has a tiered pricing model in place, which is not as transparent as interchange pricing.
Hardware & Software
Finical Inc. offers free equipment for merchants in need of in-store payment processing services, which includes free credit card readers and terminals. In addition, they also offer virtual terminals and payment gateway services for merchants who need online payment options.
Equipment lease terms are set at 48 months, and this is locked.
Value Added Services
Finical Inc offers a merchant cash discount and surcharge program. This can allow businesses to virtually eliminate as much as 100% of their credit card processing fees.
They offer security monitoring services to all of their merchants. Each time a card is swiped, the card number is encrypted and each transaction is monitored carefully to quickly and efficiently detect fraud.
Supported Payment Types & Services
Finical Inc offers payment processing services and support for all credit cards as well as EBT payments. They also offer mobile and online credit card and debit card processing services.
Discloses All Important Terms
No
Public Pricing Available
Unknown
Finical Inc does advertise the following rates:
Swiped rate - 1% - 4.99%
Keyed-in rate - 1% - 4.99%
Virtual terminal rate - 1% - 4.99%
Monthly minimum fee - $25
Finical Inc has not disclosed any fees for payment gateways or for early termination. They are also unclear on any additional rates and fees, technical support fees, batch fees and rates for additional transactions. All of these are typically for payment processors.
Pricing Model
Unknown
Swiped Rate
1.00% - 4.99%
Keyed-in Rate
1.00% - 4.99%
Mobile Payment Rate
Unknown
Virtual Terminal Rate
1.00% - 4.99%
Monthly Fee
Unknown
Payment Gateway Fee
Undisclosed
Batch Fee
Unknown
Early Termination Fee
Undisclosed
PCI Compliance Fee
N/A
Equipment Lease Terms
48 Month (locked)
Address Verification Service (AVS)
Unknown
Application Fee
N/A
Account Setup Fee
N/A
Gateway Setup Fee
N/A
Annual Fee
Unknown
Monthly Minimum
$25
Statement Fee
N/A
When merchants work with Finical Inc, they will sign two separate contracts, which can be a bit confusing.
Finical Inc offers a month-to-month agreement for its services. But there is a built-in lease through First Data Global Leasing, which is a separate agreement that cannot be canceled.
Merchants should be very careful to understand all of their contracts’ terms before agreeing to them.
Contract Length
Unknown
Early Termination Fee
Undisclosed
As far as setup and support, the Finical Inc website states that merchants can set up their accounts in just a few minutes. They do offer assistance with this process, if necessary. There is no indication of a waiting period for underwriting to take place.
Some reviewers have indicated that the underwriting process can take place in as little as 24 hours. Upon approval, VAR sheets, programming and equipment deployment have taken place on the same day for some merchants.
For customer service and support, Finical Inc has a customer support line that merchants can call with any questions they may have. They also have a chat feature available on their website and can be contacted by email. Some merchants indicate that they are assigned dedicated customer service professionals who are always on hand to answer any questions they might have or address any concerns.
BBB Rating
Finical Inc has been accredited with the Better Business Bureau since 2020. The company currently has an A+ rating and has only had 2 customer complaints. Both complaints were resolved by the company to the satisfaction of the merchant.
Other Online Reviews
Other online reviews indicate that merchants who use Finical Inc as their payment processing company are very happy with their services. Merchants mention getting exceptional customer service as they were trying to open their businesses, quick, professional customer service, and integrity and transparency in business.
Some online reviews state that the fact that customers have to contact the company for pricing could be seen as deceptive.
BBB
Unknown
N/A
No Reviews
Yelp
N/A
Total Online Reviews
Unknown
Total Online Complaints
Lawsuits
Unknown
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