Best for
Merchants with high-risk businesses that might have difficulty securing payment processing services with other merchant account providers.
Specializes in
Payment Advisors specializes in providing hard-to-place merchant customers with merchant accounts and payment processing services. This company specifically works with merchants in the CBD, marijuana, payday loan, and online firearm spaces.
Pricing Summary
Setup Fee: N/A
Monthly Fee: N/A
Swipe Rate: 1.00% - 4.99%
Keyed-in Rate: 1.00% - 4.99%
Early Termination Fee : Undisclosed
Contract Terms:
Payment Advisors was originally founded in 2014 as a merchant account provider that specializes in working with high-risk businesses.
This company is headquartered in Charlotte, North Carolina, and Steve Duniec is its president.
While Payment Advisors does not specifically mention their acquiring banks, the company website does state that it works with 15 different banks to assist high-risk merchants with payment processing services.
Payment Advisors’ president is Steve Duniec, who has 25 years of experience in the payment processing industry. The company’s director of operations is Marci Duniec. Payment Advisors was founded in 2014.
This company is located in Charlotte, North Carolina, and its main focus is on working with high-risk merchants to provide them with payment processing services. Some of the merchant types this company works with include:
Dating websites
Online liquor stores
Nutraceuticals
Collections agencies
Online eCigarettes and vape stores
Marijuana and CBD merchants
Remote tech support
Travel packages and tour operators
Payment Advisors works with 15 different banks to help its merchant customers get the payment processing services they need.
Head Quarters
125 Remount Rd C1, Charlotte, North Carolina 28203.
Year Founded
2014
CEO
Unknown
Employees
Unknown
Merchant Provider Risk Tolerance
Work exclusively with high risk merchants.
They do not disclose the types of hardware and/or software they offer.
Offshore payment options are offered in the value-added services.
Offers a cash discount to offset higher rates.
Only one negative review despite almost ten years in business.
Limited accepted payment types.
Markets through partnerships.
No information about rates and fees.
They do not advertise their contracts and terms on their website.
Potential 14-day wait period for setup.
Hardware & Software
There is no information available on the Payment Advisors’ website regarding what types of hardware and software are available through this company. Judging by its list of merchant categories, it is safe to assume that the company focuses on providing payment gateways and shopping cart integrations for payment processing.
However, Payment Advisors also works with merchants like marijuana dispensaries and gentleman’s clubs, which suggests that merchant customers will also be able to obtain POS systems and terminals, if they prefer them.
Value Added Services
The Payment Advisors’ website indicates that this company has a few additional services to offer its merchant customers as well. They can opt for:
Cashless ATM processing
Chargeback control assistance
Offshore payment processing
Aggregator solutions
0% processing through the company’s cash discount program.
Supported Payment Types & Services
Because of the sensitive nature of high-risk payment processing, Payment Advisors may be somewhat limited on the types of payments that it can process for its merchant customers.
This company’s supported payment types include:
Payments from all four major credit card companies
Debit card payments
ACH payments
Electronic check payments
Discloses All Important Terms
No
Public Pricing Available
Unknown
There is also no information available on the Payment Advisors website regarding its pricing and fees. But considering the fact that this processor specializes in working with high-risk merchants, this is not surprising.
It is very likely that the company tailors pricing and fees according to each merchant customer’s risk level, time in business, and payment processing history. Pricing will probably vary from merchant to merchant, and they may have to adhere to:
Higher rates than other merchants
Six-month rolling reserves
Strict chargeback limits
Monthly minimum fees
PCI compliance fees
Early termination fees
Payment Advisors does offer a cash discount program that allows merchants to pass their transaction fees on to customers paying with a credit card.
Pricing Model
Unknown
Swiped Rate
1.00% - 4.99%
Keyed-in Rate
1.00% - 4.99%
Mobile Payment Rate
N/A
Virtual Terminal Rate
N/A
Monthly Fee
N/A
Payment Gateway Fee
N/A
Batch Fee
N/A
Early Termination Fee
Undisclosed
PCI Compliance Fee
Undisclosed
Equipment Lease Terms
Undisclosed
Address Verification Service (AVS)
Unknown
Application Fee
N/A
Account Setup Fee
N/A
Gateway Setup Fee
N/A
Annual Fee
NA
Monthly Minimum
N/A
Statement Fee
N/A
There is no information available on the Payment Advisors’ website regarding this company’s contracts and terms. However, depending on who it partners with, merchant customers may be given two contracts - one for payment processing and one for hardware and equipment, if needed.
These contracts may have different terms, and there could be early termination fees assessed for canceling services before the contract has ended.
Contract Length
Unknown
Early Termination Fee
Undisclosed
Payment Advisors does not indicate on the company website how long it might take to get set up with payment processing services.
Most of this company’s merchant customers are likely using a payment gateway or shopping cart integration to accept payments. Once an account has been approved, these merchants may be able to begin processing payments right away.
Merchants in need of POS systems or terminals may need to wait up to 14 days to receive them to begin taking payments.
Payment Advisors has a Contact page on its website that lists an email address and phone number for customer support.
BBB Rating
Payment Advisors does not have a profile on the Better Business Bureau website, so this company is not rated by the BBB.
Other Online Reviews
There is only one negative complaint about Payment Advisors online, and this complaint appears to not be indicative of how this company operates. It mentions poor customer service from a company executive.
There are no outstanding class-action lawsuits or FTC complaints that have been filed against this company.
BBB
N/A
N/A
5 out of 5 Based on the opinion of 1 person
Yelp
N/A
Total Online Reviews
1+
Total Online Complaints
Lawsuits
Unknown
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