Best for
Merchants looking for zero cost credit card processing services who want to offset their processing fees by rewarding cash-paying customers.
Specializes in
Slice specializes in the surcharge model of payment processing, which offers lower prices to cash-paying customers. In this model - which is 100% legal - customers paying with credit or debit cards pay a slightly higher price for that convenience, which can cover most if not all transaction fees.
Pricing Summary
Setup Fee: N/A
Monthly Fee: N/A
Swipe Rate: N/A
Keyed-in Rate: N/A
Early Termination Fee : $500
Contract Terms:
Slice is a payment processor that offers payment processing and POS system and terminal rentals for its merchant customers.
Slice is headquartered in New York, New York, and the company’s CEO is Alexander Groyzburg.
Slice Business Marketing, Inc. is a registered ISO of Wells Fargo Bank, N.A., Concord, CA.
Slice Merchant Services is located in New York City. This company should not be confused with SlicePay, which is a loan company out of India, and is unrelated.
Slice provides payment processing services and POS system equipment rentals to its merchant customers. The company is based on a surcharge pricing model, which means that merchants’ customers who choose to pay with debit or credit cards instead of cash will pay a little more to cover the cost of transaction fees.
This company appears to be a reseller for several POS system companies, including Clover, Paradise and Adelo.
Alexander Groyzburg is the CEO of Slice, and on its company website, it says that the company processes more than $7 billion worth of transactions every year.
Head Quarters
132 W 36th St Fl 3 New York, NY 10018-6903
Year Founded
2018
CEO
Alexander Groyzburg
Employees
Unknown
Merchant Provider Risk Tolerance
No credit card processing fees.
Rewards for cash-paying customers.
Wide variety of stand-alone terminals.
They offer cash advances to businesses looking for a financial infusion.
Accepts all major types of payment.
Customers pay credit card processing fees, which can be a deterrent to customers.
Relies on resellers for much of their business.
No information on what kind of contracts are offered.
Expensive early termination fees.
Reputation for salespeople not being honest in their presentation.
Hardware & Software
Most of Slice’s focus is on POS systems, and there is no information available on the company website regarding payment or virtual gateways.
The Slice website mentions several options for hardware for merchants to choose from:
Standalone terminals - Works well for quick-serve restaurants, grocery stores and many retailers.
Clover POS systems - Works well for retailers, quick-serve restaurants, bars and merchants who need to set appointments and offer services.
Paradise POS systems - Uses iPad software and works well for restaurants, retailers and grocery stores.
Adelo restaurant POS systems - Works well for bars and restaurants.
Value Added Services
Merchants doing business with Slice will have access to all of the company’s value added services.
Slice’s cash incentive program can result in zero payment processing fees for merchants because customers paying with credit and debit cards will cover the cost of those fees.
The company also provides capital advances for merchants in need of extra funds to run or grow their businesses. Merchants can get pre-approved for up to $500,000. Applying is free and merchants will not damage their credit scores by applying.
Gift and loyalty card programs are also both available to merchant customers using Slice.
Supported Payment Types & Services
Merchant customers processing payments with Slice will be able to accept several forms of payment, including:
Payments from all four major credit card companies.
Debit card payments
Cash payments
Payments from mobile wallets, including Apple Pay and Google Pay
Discloses All Important Terms
No
Public Pricing Available
No
Because Slice operates on a surcharge pricing model, merchant customers do not pay transaction fees for payment processing. Those fees, at a rate of 3.99%, are passed along to customers who pay for the merchants’ products and services with debit or credit cards.
Also, cash-paying customers receive an automatic 3.99% discount on everything they purchase with a Slice merchant.
Pricing Model
Unknown
Swiped Rate
N/A
Keyed-in Rate
N/A
Mobile Payment Rate
Unknown
Virtual Terminal Rate
N/A
Monthly Fee
N/A
Payment Gateway Fee
N/A
Batch Fee
N/A
Early Termination Fee
$500
PCI Compliance Fee
N/A
Equipment Lease Terms
N/A
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
N/A
Statement Fee
N/A
There is no information online about what a standard Slice contract looks like. However, there is information that indicates that the company requires a 48-month contract for equipment. Also, many merchant customers say that terminating early can result in a $500 early cancelation fee.
Contract Length
Unknown
Early Termination Fee
$500
The Slice website indicates that getting set up with payment processing is very easy with this company. Everything can be done over the phone with one brief conversation.
Merchants in need of POS systems or terminals may have to wait a few days to receive them. But Slice can integrate with existing hardware and any POS system.
Slice has a page on its website that is dedicated to customer support. Merchant customers can reach customer service by calling them or emailing them, and the phone number and email address are easy to find. The support page also has an FAQ section that may answer a lot of merchants’ questions.
BBB Rating
Slice is not an accredited business with the Better Business Bureau, and according to the BBB website, the company has a D- rating. Customers have awarded this company 4.15 out of 5 stars.
Other Online Reviews
Other online reviews indicate that Slice has sales agents that are not always honest about contract terms.
BBB
A- and has been Accredited since 2019. (125 Reviews; 19 Complaints)
N/A
No Reviews
Yelp
N/A
Total Online Reviews
125+
Total Online Complaints
30+
Lawsuits
No
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