Best for
Merchants of any size who are searching for discount payment processing services.
Specializes in
Select Merchant Solutions specializes in working with merchants of all sizes to provide them with discounted payment processing services. The company website states that it is the preferred merchant processor for veterinarians, self-storage facilities, dentists, restaurants and more.
Pricing Summary
Setup Fee: None
Monthly Fee: $2.50
Swipe Rate: 1.19% - 4.99%
Keyed-in Rate: 1.00% - 4.99%
Early Termination Fee : $395+
Contract Terms:
Select Merchant Solutions was founded in 2011, and the company is also known by the name, Randall Merchant Solutions.
This company is a merchant account provider that advertises an “all-in” rate for its merchant customers, which means an average rate of 1.56%.
Select Merchant Solutions is located in Sanford, Florida and Ronald Park is the company’s controller.
Select Merchant Solutions is a payment processing company that is located in Sanford, Florida. Ronald Park is the company’s controller, and its website also lists Jeff Condello (managing member) and Jim Neumann (partner).
This company uses the term “all-in rate” to describe its transaction fees. Select Merchant Solutions tailors each merchant’s prices by taking the percentage of their fees and dividing by the total credit card sales. This comes out to an average of 1.56%.
Select Merchant Solutions is a DBA of Applied Merchant Group, LLC, which is a registered ISO of Wells Fargo Bank, N.A., Concord, CA. The company is also known by the name, Randall Merchant Solutions.
Select Merchant Solutions was founded in 2011. The company website advertises giving merchants the “wholesale advantage” and providing them with discount payment processing services.
Head Quarters
150 W Fulton St, Sanford, FL 32771, United States
Year Founded
2011
CEO
Unknown
Employees
11-50
Merchant Provider Risk Tolerance
Offers wholesale rates that drop the overall rate below the interchange plus average.
In-house marketing that offers a free rate analysis to potential customers.
Same-day approval for merchant accounts.
No application or setup fees.
24/7 technical support.
Vague language as to physical payment options for merchants.
Limited accepted payment types.
The advertised 1.56% rate may not apply to all vendors.
Limited information on other rates and fees.
Low review rate means little is known about the business.
Hardware & Software
Select Merchant Solutions appears to be focused on virtual terminals and gateways. However, the company does advertise offering a solution for accepting payments from iPhones. The website is not clear if this is referring to Apple Pay, but it suggests that the company provides a proprietary app that facilitates these transactions.
Value Added Services
Select Merchant Solutions does not offer any additional value added services for its merchant customers. But the company website stresses the fact that it remains PCI compliant, and it offers Level 1 processing.
Supported Payment Types & Services
The Select Merchant Solutions website is not 100% clear about what types of payments its merchant customers are able to accept. It does mention the following:
Payments from all four major credit cards
Debit card payments
Check and electronic check payments
Payments from an iPhone that are possibly made through the company’s own proprietary app.
Discloses All Important Terms
No
Public Pricing Available
No
The average transaction percentage fee that Select Merchant Solutions advertises is 1.56%. It provides the following information on its website:
Swiped rate - 1.19% - 4.99%
Keyed-in rate - 1% - 4.99%
Virtual terminal rate - 1% - 4.99%
There is no information about other fees that are typical of ISOs, such as fees for early termination, PCI compliance or monthly minimums. Considering the fact that this company mainly focuses on virtual terminals, it is surprising that they have not listed those rates.
Pricing Model
Unknown
Swiped Rate
1.19% - 4.99%
Keyed-in Rate
1.00% - 4.99%
Mobile Payment Rate
Unknown
Virtual Terminal Rate
1.00% - 4.99%
Monthly Fee
$2.50
Payment Gateway Fee
Undisclosed
Batch Fee
$0.10
Early Termination Fee
$395+
PCI Compliance Fee
$99
Equipment Lease Terms
48 month locked
Address Verification Service (AVS)
Unknown
Application Fee
N/A
Account Setup Fee
None
Gateway Setup Fee
N/A
Annual Fee
$79
Monthly Minimum
Unknown
Statement Fee
N/A
There is no information available on the Select Merchant Solutions website regarding contracts and terms.
Contract Length
Unknown
Early Termination Fee
$395+
Select Merchant Solutions does not provide any in-depth information about setup on its website. The company does state that it approves merchant accounts the same day and that there are no application or setup fees.
This company has customer service representatives available 24/7 to assist with answering merchants’ questions or assisting them with tech support. The website has a Contact page that has a form merchants may fill out as well as a phone number and fax number.
One online review indicates that merchant customers doing business with Select Merchant Solutions are each assigned a personalized account representative. This company appears to have a good track record with regard to customer service.
BBB Rating
Select Merchant Solutions has been accredited with the Better Business Bureau since 2017. This company has an A+ rating with the BBB and has had no complaints filed against it in the last 36 months.
There are two informal reviews posted for Select Merchant Solutions on the BBB website, and both of them are positive.
Other Online Reviews
There are no negative reviews posted about Select Merchant Solutions anywhere online. The same is true for Randall Merchant Solutions, which the company is often referred to as.
There are no outstanding class-action lawsuits or FTC complaints about this company.
BBB
A+ and has been Accredited since 2017. (0 Reviews; 0 Complaints)
3.0 Stars / 6 Reviews
5 out of 5 Based on the opinion of 7 people
Yelp
No Reviews
Total Online Reviews
10+
Total Online Complaints
Unknown
Lawsuits
No
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