Best for
Merchants that own small businesses and that are in search of zero-fee payment processing services.
Specializes in
Meramak Business Solutions specializes in working with small businesses to provide them with low-cost, or even free payment processing services.
Pricing Summary
Setup Fee: N/A
Monthly Fee: Unknown
Swipe Rate: N/A
Keyed-in Rate: N/A
Early Termination Fee : $250 - $350
Contract Terms:
Meramak Business Solutions was founded in 1992 as a merchant account provider that works with small businesses all over the United States.
This company was once a reseller for iPayment contracts, but that relationship ended when Meramak Business Solutions was acquired by Paysafe.
Meramak Business Solutions is located in St. Petersburg, Florida, and Richard Ward is the company’s president and CEO.
Meramak Business Solutions is a merchant account provider that was established in 1992. This company is not to be confused with Meramak of California, which is a separate entity. It is located in St. Petersburg, Florida and Richard Ward is its president and CEO.
Meramak Business Solutions was acquired by Paysafe at one point, but prior to that, the company was a reseller for iPayment contracts. According to one review, a representative from the company indicated that it had to refund thousands of dollars to merchants who were charged large fees by iPayment.
The company website states that Meramak Business Solutions is a registered ISO/MSP with many acquiring banks and processors. Among those are First National Bank of Omaha, NE, and Wells Fargo Bank, N.A. of Walnut Creek, California.
Head Quarters
360 Central Ave, Suite 800, St. Petersburg, Florida 33701.
Year Founded
1992
CEO
Richard Ward
Employees
Unknown
Merchant Provider Risk Tolerance
Zero fee payment processing.
Wide variety of payment processing options.
Several value-added services available.
Very transparent with rates.
Accredited with the Better Business Bureau.
Company utilizes independent contracts to supplement sales.
Lacking transparency on potential fees the merchant is responsible for.
Three-year contract with early termination fees.
Unclear setup times.
Email and phone are the only options for customer support.
Hardware & Software
Meramak Business Solutions offers a wide variety of products and payment processing solutions for its merchant customers. They include:
Mobile terminals
POS systems
E-commerce solutions
Shopping cart integration
EMV card readers
Virtual terminals
Payment gateways
Value Added Services
Meramak Business Solutions has many additional services to offer its merchant customers as well. They can choose to add:
ATM services
A gift card program
A loyalty card program
Real-time reporting options
This company also provides a way to offset the cost of payment processing through its Zero Processing Fees Program.
Supported Payment Types & Services
Merchants doing business with Meramak Business Solutions will be able to accept multiple forms of payment from their customers. These options include:
Payments from Visa, Mastercard, American Express, or Discover cards
Gift card payments
Debit card payments
ACH payments
Check and electronic check payments
There is also a recurring billing option that is available.
Discloses All Important Terms
No
Public Pricing Available
Unknown
Meramak Business Solutions advertises its Zero Processing Fees Program on its website, indicating that the fees for swiped, keyed-in, and virtual terminal payments will be passed on to card-paying customers. There may be a fee assessed for payment gateways, but that fee is not disclosed.
Additional fees include:
Annual fee for retail merchants - $49.95
Annual fee for non-retail merchants - $99.95
Monthly minimum fee - $25
Statement fee - $10 per month
Monthly iAccess fee - $14.95 - $30.00 per month
Chargeback fee - $25
Early termination fee - $250 - $350
E-commerce merchants may also be subject to batch fees, technical support fees and gateway fees, but this is not clear.
Pricing Model
Unknown
Swiped Rate
N/A
Keyed-in Rate
N/A
Mobile Payment Rate
N/A
Virtual Terminal Rate
N/A
Monthly Fee
Unknown
Payment Gateway Fee
Undisclosed
Batch Fee
Undisclosed
Early Termination Fee
$250 - $350
PCI Compliance Fee
Unknown
Equipment Lease Terms
N/A
Address Verification Service (AVS)
Unknown
Application Fee
N/A
Account Setup Fee
N/A
Gateway Setup Fee
N/A
Annual Fee
$49.95 (retail) or $99.95 (non-retail)
Monthly Minimum
$25
Statement Fee
$10 Per Month
When Meramak Business Solutions was partnered with iPayment, the company offered tiered pricing with a three-year term contract for its merchant customers. It is unclear whether that type of contract is still in place now that this partnership has been dissolved.
The company’s About Us page mentions several partner relationships, some of which may be companies that offer payment processing equipment and hardware. It is unclear whether there are separate contract terms in place with these companies. But they often have different contracts that may lock merchant customers in for up to four years or more.
Contract Length
Variable
Early Termination Fee
$250 - $350
The Meramak Business Solutions website is not clear about how long it might take for a merchant customer to be ready to accept payments once they have secured this company as their payment processor.
Typically, there is an underwriting process that occurs and merchant accounts receive approval within just a few business days.
There is very little information available on the company website regarding customer service. The site does have a Contact Us page with a form that can be filled out. A phone number and email address for customer support appear at the bottom of each page on the website.
BBB Rating
Meramak Business Solutions has been accredited with the Better Business Bureau since 2010. The company has an A+ rating on the BBB website and has not received any complaints or reviews in the last three years.
Other Online Reviews
There is only one negative review about Meramak Business Solutions available online, and this company does not appear to be a ripoff or a scam.
BBB
A+ and has been Accredited since 2010. (0 Reviews; 0 Complaints)
N/A
N/A
Yelp
No Reviews
Total Online Reviews
10+
Total Online Complaints
Lawsuits
Unknown
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