Paynet Systems Review

Paynet Systems Review

Author
Users

Overview:
Owned by the Pipeline Data Incorporated, Paynet Systems happens to be their subsidiary. They also own the Charge.com which did not have many remarkable comments about it so one easily assumes would be the case with Paynet Systems. However, that is not so. Established in the year 1999, Paynet Systems has managed to escape the wrath of the customers simply by its excellent performance. The negative complaints lodges against the company do not do justice to the life span of eh company so far. One expects to see a larger and lengthier list but fortunately, it is not so.

The crisis situation occurred when it fell under the Pipeline Data Incorporated in the year 2006 and saw changes being made to it. This renovation period left few merchants rather unsatisfied but once the dust had settled down, the company was back on its feet. However, if they really need to build up on their reputation, they need to update their testimonials and references on the website.

It is good to see that they are using social media to their full advantage. An active Facebook and Twitter account along with an online blog can do miracle to the good reputation of a company. Staying in constant touch with your merchants, receiving productive feedback from them is a plus point in a company’s profile. The blog is updated and filled with all necessary information.

For all their efforts, Paynet systems gets four star rating out of five.

 

Date Established:
1999.

Location:
Alpharetta, Georgia.

Domain Name(s):

  • www.paynetsystems.com.
  • www.gopaynet.com.

Parent/Partner Company:
Along with Charge.com, Paynet Systems has been acquired by Pipeline Data Inc. (OTC:PPDA).

Type:
Registered ISO/MSP.

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

Payment Processor(s):
Pipeline Data.

Payment Gateway(s):
SecurePay, SkipJack or Plug’n Pay.

Trust Symbols:
You can find the Paynet Systems BBB profile here. As of this post they have an “A-” rating with about 12 complaints in the past 36 months.

Negative Reviews:
Paynet has mixed reviews on ePinions, and only one complaint on RipOffReport.comas of this review. I do like that Paynet took the time to post a rebuttal to the ROR (RipOffReport) complaint.

Common Complaints:

  1. Bad post-approval customer service.
  2. Withholding of funds. This is usually the third-party processor or the bank’s fault.

Verifiable Testimonials/References:

The verification of the testimonials posted on the website is questionable. They do not offer any other information about the writer except his or her full name. You do not find any company information or contact details that you might need to get in touch with them. Also according to the findings the few writers who were contacted failed to get back and verify the authenticity of the testimonial.

Security/Privacy:
No third-party security (i.e. McAfee, Verisign or Truste).

Customer Service:
I haven’t dealt with these guys personally so user comments in this area would be great.

Contract Duration:
6-months.

Cancellation Fee:
$75.

Interchange-Plus Pricing:
Paynet does offer interchange-pass-through/interchange-plus pricing for merchant that can provide at least 1-month of processing statements, or are new merchants that anticipate $20K+ in monthly processing volume.

Seasonal Downtime:
Once you’ve been up and running for at least 6-months, you can then suspend and re-open your account as needed.

Product/Service Offering:
Online/Internet (e-Commerce), Retail, Mobile/Wireless, Phone/Mail.

Product/Service Specialty:
They offer a broad range of services.

 

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2 Comments

  1. This company is unethical in there practices. Stay away or regret ever being involved with them. They take money out even after you cancel them. Then once i told my bank to deny them, they sent me a letter of non payment added late charges then threatened me with collections which they did do. This company is the most unethical company i have ever had to deal with. Stay away with every fiber of your being.

  2. DO NOT DO BUSINESS WITH THEM.
    BE CAREFUL! They have many hidden costs that they ONLY state in their agreement. READ IT IN FULL.
    For instance – Option 1 plan – if your customer uses a Rewards or Business Card, you’ll get charged
    3 1/2% instead of the 1.59% they state on their website promotion page.
    ALSO-
    If you don’t process a minimum of $900 each month you’ll get charged a monthly fee.
    Go with Square. Better customer service, etc. etc.

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