Best for
Retail chains and e-commerce companies of any size according to the company website.
Specializes in
Processing card-present and card-not-present transactions for retail, home-based, phone-order, and e-commerce merchant accounts
Pricing Summary
Setup Fee: $0
Monthly Fee: $7.95
Swipe Rate: 1.00% - 4.99%
Keyed-in Rate: 1.00% - 4.99%
Early Termination Fee : $350
Contract Terms:
The firm was founded in 2000 and eventually acquired by iPayment, Inc. in 2017. Toby Smith is the current CEO of Leaders Merchant Services according to the company's LinkedIn profile. The company's key highlights include offering merchant loans and cash advances.
Leaders Merchant Services is a merchant account provider that caters to businesses of almost any size in all fifty states. The company provides debit and credit card solutions for clients based on the company website.
Head Quarters
Westlake Village, CA
Year Founded
2000
CEO
Toby Smith
Employees
150
Merchant Provider Risk Tolerance
Zero setup fee.
Accepts high risk merchants.
Domestic telephone support during business hours.
Live online help available.
Has a documentation and knowledge base available.
Monthly fee assessed.
Early termination fee.
Three year contract.
Public pricing is not available.
All important terms are not disclosed.
Leaders promotes the following products on its website:
POS Solutions: Merchants can accept EMV cards, NFC transactions (like Apple Pay) via Clover, an all-in-one POS solution. Variants include the 2018 Clover Station-2.0 and the original Clover Station-1.0. Plus, the firm also offers the popular Clover Mini, Clover Mobile, Clover Flex, and the Clover Go. These devices also come with a receipt printer and barcode scanner.
Authorize.Net: It offers many methods for connecting websites and POS systems to the payment gateway for submitting transactions. Web merchants can pick the way that is right for them, as per their customization requirements. Mobile and retail merchants integrate to the payment gateway through 3rd party hardware and software solutions certified to Authorize.Net's security and performance standards.
mPOS: The Walker solution employs the latest, end-to-end encryption technology to ensure secure operation in mobile POS applications. Walker can connect to a mobile device via the audio jack or micro USB technology. The device has integration with POS and payment apps using intuitive SDK and API developer tools.
Discloses All Important Terms
No
Public Pricing Available
No
Leaders has a PCI compliance fee of $129, a PCI non-compliance charge of $40, a monthly service fee of $7.95, and an early termination fee (ETF) of $350 as per online reviews.
Pricing Model
Tiered Pricing
Swiped Rate
1.00% - 4.99%
Keyed-in Rate
1.00% - 4.99%
Mobile Payment Rate
Virtual Terminal Rate
2.90% + $0.30
Monthly Fee
$7.95
Payment Gateway Fee
$25 Per Month
Batch Fee
$0.15
Early Termination Fee
$350
PCI Compliance Fee
$129 Per Year
Equipment Lease Terms
Undisclosed
Address Verification Service (AVS)
Application Fee
Account Setup Fee
$0
Gateway Setup Fee
Annual Fee
Monthly Minimum
$25
Statement Fee
Online reviews state that Leaders has a standard 3-year contract with an early termination fee (ETF) of $350.
Contract Length
3 Years
Early Termination Fee
$350
Leaders Merchant Services is not a BBB-accredited business but it has maintained a profile with the Better Business Bureau since 2000. Its profile boasts an "A-" rating despite having an overall customer rating of 2.83 out of 5 (82 reviews.) Leaders Merchant Services also has a staggering 269 complaints on its BBB profile which includes:
BBB
A- (272 complaints)
2.9 Stars / 409 Reviews
N/A
Yelp
1.5 Stars / 95 reviews
Total Online Reviews
500+
Total Online Complaints
250+
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