Best for
Merchants of all sizes that are looking for payment processing services that offer flat rate pricing.
Specializes in
PaymentSpring specializes in developer-driven payment processing that makes it easy for customers to make payments or donations. This company is a premier U.S. payment processor that manages billions of dollars in transaction volume every year.
Pricing Summary
Setup Fee: N/A
Monthly Fee: $5.00
Swipe Rate: N/A
Keyed-in Rate: $.30
Early Termination Fee : Unknown
Contract Terms:
PaymentSpring is a registered ISO of Wells Fargo Bank, N.A., Concord, CA.
The company is located in Omaha, Nebraska and has been in business since 2014.
The PaymentSpring Director of Operations is Canice Kobus, and this company offers Level 1 PCI compliant payment processing services for its merchant customers.
PaymentSpring is headquartered in Omaha, Nebraska and it was founded in 2014 as a payment processing provider and merchant account provider.
This company is a collaboration between two other companies by the name of Nelnet and Firespring, and it was originally known as Nelnet Business Solutions (NBS). In 2016, NTS rebranded to PaymentSpring after it added a new payment gateway option.
The company’s Director of Operations is Canice Kobus. PaymentSpring provides payment processing services to various types of organizations, including small businesses and non-profits.
PaymentSpring is a registered ISO of Wells Fargo Bank, N.A., Concord, CA. The company’s focus is on making processing payments as easy as possible for its merchant customers; even those that might not be tech-savvy.
Head Quarters
12165 W Center Rd Omaha, NE 68144-3962
Year Founded
2012
CEO
Canice Kobus
Employees
51-200
Merchant Provider Risk Tolerance
Full customization and website design available for customers.
Free basic card readers with upgrades available.
Accepts all major payment methods.
Upfront with the cost of all their different hardware.
Daily and monthly discounts available.
Very limited online reviews.
Monthly early termination fees.
Talk of a POS, but not openly advertised anywhere on the website.
No chat or ticketed help on the tech support line could lead to long waits.
No displayed information on rates for high-volume merchants.
Hardware & Software
PaymentSpring has its own virtual payment gateway option for merchants, but it is also able to integrate with others. Full customization is available using the company’s API and the website has docs for developers to help them get set up.
PaymentSpring also offers WooCommerce plug-ins and an option for Checkout Widgets, which allows merchants to quickly and easily add a payment option to virtually any website without any coding knowledge whatsoever.
Additionally, PaymentSpring can assist with mobile payments, recurring payments and invoicing.
Equipment is available for merchants that need it. A free magnetic strip mobile reader is available, and more can be purchased for a small fee per reader. Merchants can also purchase EMV chip card readers.
There was once a discussion about PaymentSpring offering a POS system, but this system is not advertised on the company website.
Value Added Services
This ISO does not offer any additional value added services outside of payment processing.
Supported Payment Types & Services
PaymentSpring states on the company website that they understand the value of offering as many different payment options as possible. The company’s virtual gateway can accept the following:
ACH payments
Checks and e-checks
Payments from Visa, Mastercard, Discover and American Express
Apple Pay
Samsung Pay
Google Pay
Mobile payment capabilities are available, and the company has invoicing features for merchants who would like them for high-ticket purchases and payments.
Discloses All Important Terms
No
Public Pricing Available
Yes
PaymentSpring offers several pieces of equipment for various fees:
Magnetic strip mobile readers are available free (for one), and merchants will be charged $20 for each additional mobile reader.
EMV chip card readers are available for $59.
PaymentSpring is a little different from many other merchant account providers in that it offers flat rate pricing. It lists its prices as:
Card-present transactions (mobile reader) - Monthly fee of $5 and a per-transaction fee of 2.75%.
Card-not-present and keyed transactions - No monthly fee and 2.9% +$0.30.
American Express transactions are charged at 2.9% +$0.30, and the same is true for business cards and specialized cards.
Merchants that process more than $10,000 per month and non-profit organizations may qualify for special rates.
PaymentSpring offers monthly discounting as well, but daily discounting is also available.
Pricing Model
Flat Rate
Swiped Rate
N/A
Keyed-in Rate
$.30
Mobile Payment Rate
Unknown
Virtual Terminal Rate
N/A
Monthly Fee
$5.00
Payment Gateway Fee
N/A
Batch Fee
Unknown
Early Termination Fee
Unknown
PCI Compliance Fee
N/A
Equipment Lease Terms
Unknown
Address Verification Service (AVS)
Full AVS
Application Fee
Unknown
Account Setup Fee
N/A
Gateway Setup Fee
Unknown
Annual Fee
Unknown
Monthly Minimum
$5.00
Statement Fee
Unknown
The PaymentSpring contract operates on a 30-day basis, and can be canceled by either party with 30 days’ notice. Merchants who cancel their contracts will be responsible for any fees that are payable during the next 30-day period.
Contract Length
Unknown
Early Termination Fee
Unknown
Because PaymentSpring primarily focuses on payment gateways, getting set up can be done very quickly. The company’s payment widget allows merchants to add processing to any website almost instantly. They advertise that it is possible to integrate with a merchant’s current software in as little as 30 seconds.
PaymentSpring also has a dedicated page on its website for developers that contains all of the information needed to integrate with their services.
PaymentSpring’s Support page has information that can answer many of the questions that merchants often have. The company has a Contact page that includes phone numbers for sales and support as well as a form that can be submitted.
BBB Rating
PaymentSpring has been accredited with the Better Business Bureau since 2017 and the BBB has given it an A+ rating. There has been one customer complaint closed in the last 3 years, but details are not available.
Other Online Reviews
There are no other PaymentSpring reviews available online.
BBB
A+ and has been Accredited since 2017. (0 Reviews; 1 Complaints)
4.2 Stars / 5 Reviews
5 out of 5 Based on the opinion of 2 people
Yelp
N/A
Total Online Reviews
10+
Total Online Complaints
Unknown
Lawsuits
No
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