Last updated: August 22, 2025

Leaders Merchant Services Review: What SMBs Should Know About Rates & Contracts

Merchant Services USA Advisor

Staff Editor

OVERVIEW

Leaders Merchant Services (LMS) is a U.S. merchant account provider operated by “Paysafe Payment Processing Solutions, LLC dba Leaders Merchant Services,” and is a registered ISO/MSP of Citizens Bank, PNC Bank, Woodforest National Bank, and Merrick Bank.   LMS markets low, customized rates (it advertises “rates starting at 0.15%”) and same‑day approvals in many cases, with 24/7 technical support. Treat headline rates as provider claims and confirm your exact pricing in writing.

KEY TAKEAWAYS

Pricing is custom; the site advertises “rates starting at 0.15%,” but your quote depends on volume, ticket size, mix, and risk—get interchange‑plus line items in writing. 
Contract terms commonly include a three‑year initial term and an early termination fee (ETF); request month‑to‑month if possible.
Typical funding is within two business days after you close your batch; verify cut‑off times.
Hardware options include Clover POS; e‑commerce options include Authorize.net; mobile includes SwipeSimple.
LMS advertises a 98% approval rate and U.S.‑only availability.
A “meet or beat” review with a $200 gift card is periodically offered—check current terms.

Pros

Industry-leading low transaction costs
24/7 prompt issue resolution
In-person and online processing
Quick merchant approval and processing
Suitable for various business types

Cons

Potential Fees
Long-Term Contracts
Mixed Reviews

Leaders Merchant Services for Different Business Types

Merchant Services for Retail Businesses

Leaders Merchant Services equips retail shops with Clover POS systems, countertop EMV terminals, and contactless readers that streamline in-store transactions. Features like inventory tracking, employee management, and loyalty programs make it a strong choice for small retail businesses and multi-location stores looking to cut costs and improve customer retention.

Learn more about the best merchant services for retail businesses.

Credit Card Processing for Restaurants & Hospitality

Restaurant owners need fast, reliable, and flexible payment systems. Leaders Merchant Services offers tableside EMV readers, mobile POS devices, and integrated tipping features that make it ideal for cafés, bars, and full-service restaurants. Integration with QuickBooks and payroll tools ensures smooth back-end management, while contactless payments improve the guest experience.

Explore our guide to merchant services for restaurants.

Merchant Accounts for E-Commerce Businesses

If you run an online store, LMS provides virtual payment gateways, shopping cart integrations, and fraud protection tools that help reduce chargebacks and boost checkout conversions. With a 98% approval rate and fast setup, it’s a good fit for e-commerce businesses that want to scale quickly.

See our breakdown of the best merchant services for e-commerce.

High-Risk Merchant Accounts

Not all processors work with high-risk industries, but Leaders Merchant Services is one of the few that does. Businesses in travel, subscription billing, or certain online services often get declined by mainstream providers like Square or Stripe. LMS specializes in high-risk merchant accounts, offering approvals where others might turn you away.

Read our article on high-risk merchant account providers.

Leaders Merchant Services by Business Goals

Lowest Credit Card Processing Rates

With swipe rates starting at 0.15%, Leaders positions itself as a leader in affordability. Its $500 Assurance Program guarantees that if your business doesn’t save money, you get compensated. This makes LMS attractive to merchants whose primary goal is reducing transaction fees.

All-in-One Payment & Business Growth Partner

Leaders Merchant Services goes beyond payment processing by offering web design, branding, small business loans, and loyalty apps. This makes it a compelling choice if your goal is to grow your business with one integrated provider, rather than juggling multiple vendors.

Merchant Services with the Best Customer Support

For business owners who value stability and assistance, LMS advertises 24/7 U.S.-based customer support and dedicated account managers. If your goal is to partner with a processor that prioritizes reliability, this could be a deciding factor.

LEADERS MERCHANT SERVICES PRICING & FEES

LMS does not publish a single rate table. Its FAQ advertises “some of the lowest rates in the industry, starting at 0.15%,” but that is a marketing floor; actual pricing varies and should be requested as interchange‑plus with a clear basis‑point markup and per‑transaction fee.

Ask your rep to disclose, in writing: monthly account/statement fees, PCI/compliance fees (and any fees for non‑receipt of PCI), gateway/virtual terminal fees, chargeback fees, any monthly minimums, and all one‑time fees.

CONTRACT & EARLY TERMINATION

A program guide hosted on LMS’s domain states an initial three‑year term and an early termination fee if you cancel early; the exact ETF is set on your merchant application/service fee schedule. Confirm auto‑renewal windows and written notice requirements before signing.

FUNDING SPEEDS & PAYOUTS

According to LMS, “in most cases” transactions deposit within two business days after you close your batches. Confirm batch cut‑off times and reserve policies for your MCC.

HARDWARE, POS & IN‑STORE PAYMENTS

LMS offers the Clover POS family (Station, Mini, Flex) plus countertop terminals and readers. Clover apps enable inventory, staff, and customer tools.

E‑COMMERCE & GATEWAYS

For online payments, LMS supports Authorize.net (with virtual terminal and developer integration methods). Verify the gateway fees and AVS costs on your quote.

MOBILE & FIELD PAYMENTS

LMS highlights SwipeSimple for mobile acceptance and lightweight POS functions; ask about reader costs and app features for your use case.

VALUE‑ADDED FEATURES

EBT acceptance (note: approvals and equipment requirements apply).  
QuickBooks compatibility via supported gateways.  
SimplyPaid payroll cards for employee payouts.

ELIGIBILITY & GEOGRAPHY

LMS serves U.S.‑based merchants only; businesses physically outside the U.S. are not eligible.

SUPPORT & ONBOARDING

LMS advertises same‑day approvals in many cases, with hardware/gateway access typically available within several business days of approval. Support is available 24/7/365.

WHO LEADERS MERCHANT SERVICES IS BEST FOR

Brick‑and‑mortar retailers and service SMBs that want a dedicated merchant account, Clover POS options, and live support. 
Mixed environments (in‑store plus online invoicing or web checkout) that prefer two‑day funding over PSP‑style pending times.

WHO SHOULD CONSIDER ALTERNATIVES

Very low‑volume or seasonal merchants who prioritize no monthly fees and month‑to‑month terms. 
Developer‑heavy teams needing deep API ecosystems and global acquiring. 
Merchants unwilling to accept multi‑year terms or ETFs.

REAL‑WORLD COST EXAMPLES (EDUCATIONAL ESTIMATES, NOT A QUOTE)

See these ranges to sanity‑check your LMS proposal. Effective rate = interchange + processor markup + per‑txn + common monthly fees; it varies by card mix and risk. 

Micro retail ($15k/mo, $30 avg ticket, 80% card‑present / 20% online): ~2.30%–3.02% → ~$360–$490 total monthly cost including typical monthly fees. 
Services ($25k/mo, $125 avg ticket, 90% card‑present): ~2.25%–2.96% → ~$580–$775 incl. typical monthly fees. 
E‑commerce ($20k/mo, $60 avg ticket, 100% online): ~2.70%–3.50% → ~$555–$735 incl. typical monthly fees.

HOW TO NEGOTIATE YOUR BEST LMS DEAL

Request interchange‑plus with written basis‑point and per‑txn markups; avoid vague blended pricing.
Itemize all recurring fees (account/statement, PCI, gateway) and confirm whether any monthly minimum applies.
Ask for month‑to‑month terms or an ETF waiver; confirm cancellation steps and auto‑renewal in the agreement.
If offered “free equipment,” clarify whether it’s a loaner/rental or a lease and the total cost of ownership.
Use the “meet or beat” review and $200 assurance (when available) to push for lower markups; send two recent statements as required.

REPUTATION & TRUST SIGNALS

The Better Business Bureau lists LMS (Camarillo, CA) as BBB‑accredited since September 14, 2021, with an A+ rating; BBB ratings reflect complaint handling, not necessarily pricing.

Third‑party consumer reviews are mixed across platforms like Trustpilot and ConsumerAffairs—read the most recent comments and compare them to the current terms in your own agreement.

DISCLAIMER

Provider claims (e.g., “rates starting at 0.15%,” “98% approval,” deposit timing, free equipment eligibility) come from LMS’s website and should be confirmed in your signed agreement before you make a decision.

EDITORIAL METHODOLOGY

This review emphasizes: pricing transparency (interchange‑plus clarity), total cost modeling at common small‑business volumes, contract flexibility, funding speed, hardware/integration breadth, dispute/risk support, and verified support availability. Sources include the LMS site/FAQ, LMS program guide, and independent reputation pages (BBB and third‑party review sites).

FAQs

Who is Leaders Merchant Services and how is it sponsored/regulated?

Leaders Merchant Services (LMS) operates in the U.S. as “Paysafe Payment Processing Solutions, LLC dba Leaders Merchant Services.” It is a registered ISO/MSP of Citizens Bank, N.A.; PNC Bank, N.A.; Woodforest National Bank; and Merrick Bank. In practical terms, this means you receive a dedicated merchant account underwritten and settled through sponsor banks while LMS provides sales, onboarding, billing, and support.

Does Leaders publish pricing? What does “rates starting at 0.15%” really mean?

LMS does not post a one‑size‑fits‑all rate card; it advertises having “some of the lowest rates in the industry, starting at 0.15%.” Treat that as a provider claim and request a written, line‑item quote for your business that specifies the pricing model (e.g., interchange‑plus), basis‑points over interchange, per‑transaction cents, and every recurring/incident fee (monthly account, PCI, gateway/virtual terminal, chargeback). That way you can compute an apples‑to‑apples effective rate.

What contract terms should I expect with Leaders (length, ETF, renewal, cancellation)?

Your signed merchant application and program terms control the deal. LMS‑linked bank program guides include provisions for auto‑renewing terms and an early termination fee (ETF) if you cancel before the end of the initial term; exact amounts and notice windows are defined in your application and terms. Before activation, ask for: the initial term, renewal window, ETF, and the written cancellation steps (notice address/lead time). Keep PDFs of all documents.

How fast are deposits? Does Leaders offer next‑day or two‑day funding?

According to LMS’s FAQ, most batches fund within about two business days after you close your batch. Confirm your specific cut‑off time, weekend/holiday behavior, and whether accelerated/instant options are available in your program. Funding speed can vary by MCC, risk profile, and recent chargeback activity.

Which hardware, POS, and gateways can I use with Leaders?

LMS offers and supports the Clover POS family (Station, Mini, Flex, Go) for in‑store checkout and management, plus Authorize.Net for e‑commerce, virtual terminal, and integration options. Ask whether your quote includes device ownership vs. rental, warranty/replacement SLAs, and gateway/AVS/recurring billing fees.

Is support truly 24/7, and what does onboarding look like?

LMS promotes 24/7 support access. For go‑live, the FAQ notes that once your merchant account is approved, you can accept cards upon receiving your terminal or e‑commerce credentials—typically within 3–5 business days of approval. Clarify shipping times, remote training, and who to call for chargeback help or hardware troubleshooting.

Who is eligible to apply—can non‑U.S. businesses use Leaders? What about lower credit?

Per LMS’s FAQ, merchants must have a physical location in the United States and a U.S. checking account; international businesses are not eligible. The FAQ also cites a 98% approval rate (provider claim), excluding prohibited categories, meaning many small businesses—including some with thinner credit files—may qualify after underwriting. Your terms, pricing, and funding limits may vary by risk.

What is Leaders’ “Assured Savings” / meet‑or‑beat review, and how does the $200 assurance work?

LMS runs a promotional “meet or beat” analysis that requires your two most recent processing statements (minimum volumes apply). If LMS cannot match or beat your overall pricing profile, it advertises a $200 assurance (subject to offer terms and eligibility; not available to high‑risk merchants or those with poor credit). Always review the current offer page and get outcome details in writing.

Does Leaders support EBT, American Express, and QuickBooks integration?

Yes—EBT can be enabled (note equipment requirements and application notation), American Express acceptance can be added during onboarding and appears on your LMS statement, and LMS notes gateway integrations for popular accounting systems like QuickBooks. Confirm any gateway or program fees and make sure your hardware supports the required PIN pad/workflows.

What does PCI compliance look like with Leaders, and what security features are in place?

LMS states it is PCI compliant and highlights security practices such as end‑to‑end SSL, AVS, and CVV2 authentication. As a merchant, you’ll still complete your annual SAQ and maintain secure practices on devices, networks, and e‑commerce platforms. Ask your rep about non‑compliance fees and available tools (tokenization, fraud filters, chargeback assistance) to reduce risk.