Best for
Merchants located in the United States or Canada that are in need of payment processing for standard-risk businesses.
Specializes in
PandaPay specializes in providing both virtual and physical payment processing services for standard-risk merchants with businesses located in the United States and/or Canada. This company also offers additional services to help their merchant customers grow their businesses.
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 : Variable
Contract Terms:
PandaPay is a company that was founded in 2015 as a merchant account provider that offers services to standard-risk businesses.
This company is a reseller of Elavon in Canada, but it offers its services to merchants in the United States as well.
PandaPay has two locations; one in Montreal and one in Vaughan, Canada, and the company CEO is Max Desruisseaux.
PandaPay was founded and established in 2014. The company currently services more than 5,000 merchant customers across Canada, but also works with merchants in the United States. The Company page on the PandaPay website boasts more than $2.5 billion in processing every year.
PandaPay is headquartered in Montreal and Vaughan, Canada. Max Desruisseaux is the company’s CEO and John Cruz is its Chief Sales Officer.
This company is a reseller for Elavon in Canada, and the company shares its name with a tech startup that provides donor management for payment processing services for non-profits. There is no relation between the two companies.
PandaPay is a registered ISO/MSP of the Canadian branch of U.S. Bank National Association, Elavon, and Wells Fargo Bank, N.A., Canadian branch.
Head Quarters
3333 Boul Cavendish Suite 400, Montréal, QC H4B 2M5, Canada
Year Founded
2014
CEO
Max Desruisseaux
Employees
Unknown
Merchant Provider Risk Tolerance
Specializes in payment processing.
Good variety in online shopping cart integration.
Many options for physical terminals.
Multiple value-added services.
No early termination fees.
Reseller for other companies.
48-month locked equipment lease.
No information about pricing and fees.
Not accredited with the Better Business Bureau.
Employee independent sales contractors for marketing.
Hardware & Software
PandaPay offers both hardware and software-based payment processing options for its merchant customers. The company can assist merchants with obtaining the type of payment terminals they need, including touch screen, wired, wireless, and Bluetooth-connected systems.
A virtual terminal is also available through PandaPay, which can process payments through any computer that has an internet connection. Payments can be accepted in person or over the phone.
PandaPay can facilitate shopping cart integrations for ecommerce merchants as well, with many developer tools and open APIs. Options include:
OpenCart
Shopify
Magento
PayPal
Authorize.Net
Value Added Services
PandaPay provides many value added services for merchants, including:
A gift card program
A loyalty card program
PandaPay 360 reporting tool
Consumer financing options for customers
Business coaching complete with social media management tools
Merchant cash advances
Supported Payment Types & Services
Merchants that choose PandaPay as their payment processor will be able to accept multiple forms of payment, including:
Visa, Mastercard, Discover, and American Express
Debit cards
Interac
Apple Pay
Google Pay
UnionPay
MOTO payments
Discloses All Important Terms
No
Public Pricing Available
Unknown
There is no information available on the PandaPay website regarding the company’s prices and fees. This is most likely because prices and fees can vary based on a merchant’s time in business, risk level, and payment processing history.
The company website does indicate that it believes in transparent pricing and does not have hidden fees or processor markups.
Pricing Model
Unknown
Swiped Rate
1.00% - 4.99%
Keyed-in Rate
1.00% - 4.99%
Mobile Payment Rate
Unknown
Virtual Terminal Rate
N/A
Monthly Fee
Unknown
Payment Gateway Fee
N/A
Batch Fee
N/A
Early Termination Fee
Variable
PCI Compliance Fee
Variable
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
N/A
Monthly Minimum
Unknown
Statement Fee
N/A
Because PandaPay is a reseller for Elavon, it offers the same month-to-month contract that Elavon does. There are no early termination fees that are charged to merchants that cancel their accounts.
This company does work with others with regards to equipment leases, which requires a separate contract to be signed. That contract comes with a 48-month term and it is locked.
Contract Length
Unknown
Early Termination Fee
Variable
PandaPay does not disclose how long its underwriting process is, or how long it might take merchants to get set up to process payments through this company.
In most cases, there is an underwriting process, which may take 24-72 hours, depending on the merchant. Once the account is approved, merchants in need of payment processing equipment should be able to start accepting payments within 10-14 days. Those who are relying on a virtual terminal, payment gateway, or ecommerce shopping cart integration may be able to get started with accepting payments within a week.
The PandaPay website has a dedicated page for support. Merchants can quickly book a call with a customer support professional or member of the sales team through this page. Alternatively, they may call the company or email their client care department for assistance.
BBB Rating
PandaPay is not accredited with the Better Business Bureau, but the company has an A- rating and no complaints or reviews on the BBB website.
Other Online Reviews
There are only a few negative reviews available online for PandaPay, and most reviews for this company are positive.
BBB
A and This Business is not BBB Accredited. (0 Reviews; 0 Complaints)
4.7 Stars / 207 Reviews
N/A
Yelp
5 Stars / 1 Reviews
Total Online Reviews
210+
Total Online Complaints
Lawsuits
Unknown
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