ProMerchant Review: Features, Pricing, Pro & Cons

ProMerchant is one of the leading credit processing companies headquartered in Boston, Massachusetts. Even though it was founded in 2018, its owners have been in the credit card processing industry for over 15 years. Within the few years that it has been in operations, ProMerchant has become a reputable credit card processing. The company offers competitive rates, uncomplicated contracts, and straightforward pricing models. It’s for these and many other reasons that many small businesses prefer its services.

With ProMerchant, you will not sign up for any lengthy and complex contracts and you can back out any time without worrying about penalties.

ProMerchant provides excellent services because they leverage the expertise of its founders. The company draws its clients from various industries, including telephone/mail order, mobile, restaurants, e-commerce, retail, to name a few. ProMerchant’s services satisfy the needs of all types of businesses, from small businesses to large corporations that need credit card processing services.

Free Processing Solutions and Equipment

ProMerchant has highly experienced team members. They can set up accounts that offer solutions that address the unique needs of each company, no matter the industry. They are cognizant of the fact that most businesses operate within tight budgets, which explains why they offer free processing solutions and equipment. Some of the solutions they offer include:

Point-of-Sale (POS)

ProMerchant offers multiple Point-of-Sale (POS) options for their restaurant and retail merchants. All the options have high-definition (HD) touch screens, NFC technology, EMV Chip readers, swipers, integrated thermal printers, and high-res cameras for scanning QR or barcodes. Additionally, their POS systems have reporting, inventory, and ticketing functions that allow their clients to view their balance sheets weekly, organize and manage inventory, and process refunds.

Free Credit Card Terminals (Verifone VX520)

On top of the POS systems, ProMerchant also offers their restaurant and retail merchants Credit Card Terminals (Verifone VX520) free of charge. Verifone VX520 is a reliable, efficient, and safe credit card terminal that’s NFC capable and EMV compliant. This technology makes it easy for customers to transact by simply holding their smartphones above the terminal. This technology promises higher revenues for businesses because it enhances quicker sales, allowing customers to make payments through their mobile wallets.

Payment Gateway (Authorize.Net)

The payment gateway is another great product offered by ProMerchant to its e-commerce merchants. It’s a technology that allows e-commerce merchants to process all their payments through their websites. The Payment Gateway (Authorize.Net) comes in the form of an HTML script and API code that merchants can add to their payment/shopping page. The API code is for the shopping cart.

Another thing that e-commerce merchants like about this technology is that it has multiple tools and filters that help prevent fraudulent transactions before they get executed. It can even put a cap on the dollar amount to be transacted, control the total amount transacted per hour, and the acceptable IP addresses.

Virtual Terminals

For its mail order and phone order merchants, ProMerchant offers easy-to-use and free Virtual Terminals that allow them to process credit cards securely and safely from any tablet, phone, laptop, or PC with an internet connection. The Virtual Terminal can also be used to set up recurring bills, initiate returns, process voids, text, email, or print out receipts, and run reports. ProMerchant doesn’t charge any gateway fees in respect of these Virtual Terminals.

PayAnywhere App

PayAnywhere App was designed for mobile merchants. It’s a high-end mobile payment solution that works alongside ProMerchant’s card reader. The card reader itself is supported by Bluetooth technology, is NFC capable, and is compliant with EMV Chip.

It’s worth mentioning that these features, though offered by ProMerchant, aren’t standard, meaning many mobile payment processing systems don’t offer them. That’s why it’s strongly advised that merchants should check whether or not their mobile payment systems can accommodate Chip-based payment methods backed by EMV and NFC.

The PayAnywhere App can capture customers’ signatures electronically. All the customers need to do is to sign on the receipts right on their smartphones’ touch screens. Additionally, this app allows users to text or email customer receipts. With this app, merchants can capture sales, initiate returns and voids, and apply sales taxes and tips. The system works even without internet coverage because it can save transactions then process them once there’s internet coverage.

Application Process

The very first time business owners interact with ProMerchant, the first thing they'll appreciate is its straightforward nature and the ease of use of its tools. ProMerchant never asks users to scan or upload any document before they sign up for any service. The application process is 100% online and it’s quite simple. All the subscribers need to do is to enter their business types, email addresses, phone numbers, company names, and their personal names, after which they’ll get free quotes.

Signing up is a breeze. It will take less than 24 hours for an application to be approved. In some cases, the applications can get approved within two hours. And once the application is approved, users will get instant access to all ProMerchant’s online tools they are eligible for. The hardware will be shipped overnight, so the whole system should be up and running within 72 hours. Users who do not need hardware can have everything set up within 24 hours.

Why is ProMerchant Unique?

ProMerchant works for everyone in the sense that it doesn’t require any technical know-how to use the tools. Furthermore, it has no complicated contracts. The contracts are easy to understand and are short.

ProMerchant offers top-notch customer service, making it easier for companies to use credit cards. Many companies aren’t conversant with credit card processing, so they need knowledgeable and patient customer service representatives like those found at ProMerchant. Their customer service support is available 24/7.

ProMerchant also offers a straightforward fee structure. Their percentage rate and interchange fees are simple to understand. They normally deduct the interchange fees from the daily transactions. Monthly charges and transaction fees are deducted every month.

What many merchants love more about ProMerchant is that they offer a range of services. They have the technology that caters to the needs of different industries. From invoicing and Bluetooth devices to e-signatures and chip-enabled payment processing, ProMerchant has it all.

Subscribers can reach the customer service reps via email or phone using the contacts provided on their website. Those who sign up with ProMerchant get assigned a group of experts that will strive to know their businesses personally to find the best ways of helping them.

ProMerchant Credit Card Processing

ProMerchant offers an easy, fast, and free setup. To sign up, users can either fill the company’s online form or call their toll-free number. As stated earlier, the whole setup process can be completed in a matter of hours.

ProMerchant offers month-to-month agreements with no cancellation (early termination) fees. ProMerchant card processing is known to be fair and honest. They are transparent about their services, pricing, and offerings. This company provides small businesses with an innovative way of processing payments. The company is rated A- by the Better Business Bureau because it’s still new.

ProMerchant Pricing (Hardware and Software)

There are two Interchange Plus pricing plans users can choose from. Both of them are easy to understand and straightforward – no complicated structure as expected in the credit processing industry. To this end, ProMerchant offers the fairest and most transparent pricing model in the market today.

The two pricing models offered by ProMerchant are the Interchange Plus a transaction fee and fixed percentage rate, and the Flat Rate Pricing. The first payment plan has two components: A fixed interchange charge and an amount that varies depending on the amount transacted.

The second model is very simple because it provides merchants with a fixed rate for all credit cards. In this plan, all the changes are bundled into one monthly fee. This makes things easier for bookkeepers because they’ll already know what charges to expect at the end of the month.

The Flat Rate Pricing has many other additional beneficial features. For example, some merchants can have their credit card processing fees reduced to zero if they qualify for an extension of the plan. Additionally, this model has no hidden fees for its month-to-month agreement. This plan is best for mobile and retail businesses. During the signup, each merchant will be assigned an expert to help them choose the best pricing model for their businesses.

When it comes to security, all ProMerchant’s solutions and hardware are PCI compliant. This means their clients are also expected to be PCI compliant. Their hardware is exceptionally secure. They use dual-mode terminals and the VX520 (Verix) operating system. Additionally, ProMerchant uses VeriShield Protection, end-to-end encryption, which protects the system from fraudulent transactions.

Bottom Line

Businesses searching for the best credit card processing companies need not look further than ProMerchant. This company offers incomparable services, especially for mail-order and phone businesses, mobile service providers, food and restaurant services, and retail businesses. They offer the best processing solutions and free terminals.

ProMerchant offers the most affordable and transparent pricing plans and has the best customer support. Their customer service representatives are available 24/7 to provide round-the-clock support.