Best for
SignaPay is best for small to mid-sized businesses for both low and high-risk businesses
Specializes in
SignaPay offers payment processing services to the restaurants, retail, hospitality sector, and professional services businesses. The company also caters to high-risk clients. The company mentions on its website that it offers 24/7 support in both English and Spanish. The company also offers POS equipment, mobile card readers, and an easy-to-integrate payment gateway suite that combines virtual terminal, hosted payment webpage, invoice management, and PCI encryption into a single solution.
Pricing Summary
Setup Fee: $0
Monthly Fee: Undisclosed
Swipe Rate: 1.00% - 4.99%
Keyed-in Rate: 1.00% - 4.99%
Early Termination Fee : Up to $495
Contract Terms:
SignaPay is an ISO/MSP of multiple partner banks, including Chase Merchant Services, Citizens Bank. Providence, Rhode Island, Esquire Bank of Garden City, New York, Elavon, the Canadian branch of U.S. Bank, N.A., and Wells Fargo Bank, N.A., of Concord, California,
Founded in 2006, the Irving, TX-based SignaPay is headed by founder and CEO John Martillo.
SignaPay was founded in 2019 by John Martillo, the current CEO. SignaPay is headquartered in Irving, TX. The company offers merchant account solutions for low and high-risk businesses and is a reseller of payment processing for Chase Merchant Services, TSYS, Priority Payment Systems, and First Data. Signa has also partnered with Clover Dejvoo, Mynt, and Pax for POS equipment.
SignaPay also offers a service called PayLo that lets merchants offer a cash discount to cash-paying customers. Alternatively, it's a surcharge for card-paying customers. Such iterations and product launches have started to gain popularity within the payment processing industry, allowing merchants to start testing new pricing mechanisms with their clientele.
SignaPay has been accredited with the Better Business Bureau (BBB) since 2008, which gives the company an A+ rating. There have been ten complaints about SignaPay in the last three years and six in the previous twelve months. Nearly all complaints mentioned that the company charged merchants excessive or hidden fees.
Head Quarters
Irving, TX
Year Founded
2006
CEO
John Martillo
Employees
100
Merchant Provider Risk Tolerance
Zero setup fee.
Interchange plus pricing available.
Gift and loyalty program.
Full line of EMV compliant terminals available.
Has an integrated payment platform.
Early termination fee.
Three year contract.
Employs independent sales agents.
All important terms are not disclosed.
Public pricing is not available.
Payment Processing: SignaPay resells payment processing services for low and high-risk businesses for Chase Merchant Services, TSYS, Priority Payment Systems, and First Data.
Point of Sale: The company resells EMV-compliant mobile and traditional POS equipment of Clover Dejvoo, Mynt, and Pax.
PayHub+: A one-stop-shop for Gateways solutions offering and an easy-to-integrate solution that combines virtual terminal, hosted payment webpage, invoice management, and PCI encryption.
PayLo: Let's merchants apply a surcharge to purchases paid via a card, or conversely, apply a discount to customers paying in cash.
Discloses All Important Terms
No
Public Pricing Available
No
SignaPay resells payment processing services of various vendors. Below are three for which we found pricing information;
First Data
Priority Payment Systems
TSYS
Merchants may also incur fees for gateway charges, batch fees, and technical support fees through SignaPay. Since companies may be using independent sales agents, some rates and prices may vary depending on the type of the business, the number of transaction volumes, and the merchant's negotiation skill.
Pricing Model
Interchange PlusFlat Rate
Swiped Rate
1.00% - 4.99%
Keyed-in Rate
1.00% - 4.99%
Mobile Payment Rate
Virtual Terminal Rate
1.00% - 4.99%
Monthly Fee
Undisclosed
Payment Gateway Fee
Undisclosed
Batch Fee
Undisclosed
Early Termination Fee
Up to $495
PCI Compliance Fee
$99 Per Year
Equipment Lease Terms
48 Month (locked)
Address Verification Service (AVS)
Application Fee
Account Setup Fee
$0
Gateway Setup Fee
Undisclosed
Annual Fee
$99
Monthly Minimum
$25
Statement Fee
SignaPay is very transparent regarding their contract terms. The company resells merchant processing of numerous vendors, all of which have three-year agreements with one-year auto-renewals. Both First Data and Priority have early termination fees of $495. Although TSYS has not disclosed details of early termination fees, merchants should carefully review the terms of any agreement offered.
Merchants should carefully review any non-cancelable long-term equipment lease agreement language in their contract with SignaPay for POS equipment.
Contract Length
3 Years
Early Termination Fee
Up to $495
We could only find ten complaints against SignaPay on the BBB website and a handful of similar complaints about sales and hidden charges on various online platforms. There was a lawsuit filed against SignaPay in 2015; however, it did not involve customer complaints. Instead, the case was filed by one of SignaPay's payment processors, Priority Payment Systems.
The plaintiff alleged that the defendant stole trade secrets after accessing Priority's client management system.
BBB
A+(10 complaint)
3.4 Stars / 20 Reviews
N/A
Yelp
5 Stars / 1 Review
Total Online Reviews
40+
Total Online Complaints
15+
Lawsuits
1
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