PayLeap Review

PayLeap Review

Author

Overview:

PayLeap is based out of Warsaw, Indiana and has only been in the business since 2008. Although they are new in this industry, their standing with the BBB is quite good. For now, I consider them as a smaller provider in spite of their currently increasing popularity. By that I don’t mean they are bad, so don’t misunderstand me. As they are beginners so they really realized needs of merchants. They are offering very competitive pricing to their merchants. Over and above providing interchange-plus pricing which is a standard nowadays. They don’t make you sign any contract and they don’t charge for cancellation.

Good news for e-Commerce merchants is that since PayLeap has its own payment gateway so you will not have to pay monthly charges for that.

I really hope that they put some testimonials or case studies on their site.

They have active Facebook page and Twitter account, so you can also find them there.

I rate PayLeap 4.5 out of 5 considering that they are quite fresh and will take time to prove themselves. I am pretty sure that if they keep working this way than they are not far from becoming a 5-star merchant account provider.

Date Established:
2008.

Location:
Warsaw, Indiana.

Domain Name(s):
www.payleap.com.

Parent/Partner Company:
PayLeap is a DBA for Affinity Payments.

Type:
Registered ISO/MSP.

Acquiring Bank(s) (Acquirer):
Wells Fargo Bank.

Payment Processor(s):
PayLeap is the processor.

Payment Gateway(s):
PayLeap has their own payment gateway.

Trust Symbols:
You can find the PayLeap BBB profile here. It has an “A-” rating as of this review, with only 4 complaints in the last 36 months.

Negative Reviews:
They don’t have any negative reviews that I could find. Granted, they are a newer company (2008), but that’s still pretty impressive.

Common Complaints:
None.

Verifiable Testimonials/References:
None found. It’d be nice to see some good testimonials or case studies.

Security/Privacy:
They don’t have any online security apps such as McAfee, Security Metrics on their site. The matters concerning security actually vary with the type of information a merchant provider requires from you. If you have to fill out a full digital application that requires sensitive info like SSN number, then that really call for presence of some third –party security. Many times and also in the case of PayLeap, only basic information is collected, which is then taken care of by fax or later on by some secure online app.

Customer Service:
I haven’t worked directly with PayLeap. This is where your personal experiences would be helpful. Let us know how your experience has been with them.

Contract Duration:
I was told that there is no contract duration term.

Cancellation Fee:
No cancellation fee either. Be sure to read your contract though.

Interchange-Plus Pricing:
Interchange-plus is offered by PayLeap.

Seasonal Downtime:
I was told that PayLeap will work with you if you have a seasonal business, but be sure to iron out the terms before you sign-up.

Product Offering:
Retail (Credit/Debit), eCommerce, Payment Gateway, Mobile.

Specialty:
None.

 

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