Best for
Merchants in North America that are in need of merchant accounts and payment processing services at low, guaranteed rates.
Specializes in
Merchant 1 Payments specializes in offering guaranteed rates to its merchant customers that will not change. This company has a focus on being proactive, and providing a balance of technology that is up-to-date, affordability and reliability.
Pricing Summary
Setup Fee: Unknown
Monthly Fee: Unknown
Swipe Rate: 1.00% - 4.99%
Keyed-in Rate: 1.00% - 4.99%
Early Termination Fee : 1.00% - 4.99%
Contract Terms:
Merchant 1 Payments is located in Ontario, Canada, and the company was founded in 1999.
This company offers merchant accounts and payment processing services to merchants in North America.
Merchant 1 Payments is a registered ISO/MSP of the Canadian branch of US Bank National Association and Elavon.
Merchant 1 Payments should not be confused with Merchant One, which is a completely different payment processing company. Merchant 1 Payments is headquartered in Ontario, Canada, and the company is a registered ISO/MSP of Elavon and US Bank National Association. It was founded in 1999 and Joe Bonavota is the company’s president and CEO.
Merchant 1 Payments claims to work with merchants closely in order to offer them the most reliable payment processing solutions. It works with businesses of all sizes, including hospitality, lodging, retailers and franchise merchants.
This company processes more than a billion dollars in annual transaction volume and has been ranked #1 in Client Satisfaction according to TrustPilot. Merchant 1 Payments is a fully registered service provider for both Visa and Mastercard.
Head Quarters
2180 Steeles Ave W, Suite 300 Concord, ON L4K 2Z5
Year Founded
1999
CEO
Joe Bonavota
Employees
Unknown
Merchant Provider Risk Tolerance
Services merchants in North America.
Offers accounts and payment processing at low guaranteed rates.
Technology in use is reliable, up to date, and affordable.
Works with businesses of any size.
Offers gift cards and loyalty programs.
Early Termination fee.
Limited to online sellers.
Works with low risk businesses.
Contracts for leased equipment are not cancelable.
Merchants in need of equipment may wait a few weeks.
Hardware & Software
Merchant 1 Payments offers a variety of options for merchants in need of POS systems and credit card terminals for in-person payments. The company has:
Smart terminals
Wired terminals
Wireless terminals
Mobile credit card hardware
Merchant 1 Payments offers Poynt Smart Terminals, Ingenico wired and wireless terminals, and VirtualMerchant Mobile for mobile payments.
A virtual gateway called Virtual Merchant is available through Merchant 1 Payments. The company also provides shopping cart integration for ecommerce merchants.
Invoicing is also available through Merchant 1 Payments Converge for customers making payments in up to 91 currencies.
Value Added Services
Merchant 1 Payments offers a gift card and loyalty card program in addition to merchant accounts and payment processing services.
Merchants are also able to order any payment processing supplies they might need directly from Merchant 1 Payments.
Supported Payment Types & Services
Merchants choosing Merchant 1 Payments as their payment processing company will be able to accept many forms of payment, including:
All four major credit cards
Debit card payments
EMV chip card payments
Magstripe payments
Contactless payments
Gift cards and electronic gift cards
Depending on the equipment a merchant chooses, additional payment options may be available as well, such as mobile wallet payments, ACH, and checks/electronic checks.
Discloses All Important Terms
Yes
Public Pricing Available
Unknown
Merchant 1 Payments does not publicly list their fees on their website. This is most likely because merchant customers receive tailored quotes based on multiple factors, including their risk level, payment processing history and business size.
There are some fees that are publicly available, and they include:
PCI Compliance fee - $9.99 per month
PCI Non-Compliance fee - $20 per month
The company’s homepage mentions that it locks merchants into the rates they have when they are approved, and those rates never change.
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
1.00% - 4.99%
PCI Compliance Fee
PCI Compliance fee - $9.99 per month
Equipment Lease Terms
Up To 60 Months (unlocked)
Address Verification Service (AVS)
Unknown
Application Fee
Unknown
Account Setup Fee
Unknown
Gateway Setup Fee
Unknown
Annual Fee
Unknown
Monthly Minimum
Unknown
Statement Fee
Unknown
Merchant 1 Payments offers a month-to-month contract to its merchant customers that does not have an early termination fee.
Merchants in need of payment processing equipment can opt to lease it from Merchant 1 Payments through Ladco Leasing, which offers leases for up to 60 months that are non-cancelable.
Contract Length
Unknown
Early Termination Fee
1.00% - 4.99%
The Merchant 1 Payments website does not indicate how long its underwriting process is for approving merchant accounts. Merchants in need of equipment may need to wait up to 14 days for it to arrive before they can begin processing payments. Those that are integrating with a shopping cart or choosing a payment gateway may be able to get started within a week.
Merchant 1 Payments does not have a Contact page on its website. But it does list the company’s phone number, fax number, and an email address for information and customer support at the bottom of every page.
BBB Rating
Merchant 1 Payments is an accredited business with the Better Business Bureau, and the company has an A+ rating. It has 5/5 stars, four customer reviews, and no customer complaints within the last three years.
The reviews on the BBB website mention excellent customer service, significant savings, and low-pressure sales.
Other Online Reviews
There are very few online reviews for Merchant 1 Payments, although the company does list many excellent reviews from merchant customers on its website.
BBB
A+ and has been Accredited since 2009. (4 Reviews; 0 Complaints)
N/A
N/A
Yelp
N/A
Total Online Reviews
5+
Total Online Complaints
Lawsuits
Unknown
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