PayNetSecure Reviews & Complaints

Name: PayNetSecure
Item: PayNetSecure
Rating: 5
Author: Phillip Parker

By Phillip Parker

Updated: July 2, 2024

Maintained Since: October 28, 2015

▼ 0 User Reviews

Overall Score

How did they treat you?

Overview

PaynetSecure offers a variety of payment processing solutions for businesses, including credit card processing and ACH transfers. This article will review the company's service offerings, pricing structure, contract terms, and customer feedback. We will assess the transparency of their fees, the quality of their customer support, and the overall satisfaction levels reported by their clients. By the end of this article, you will have a clear understanding of what PaynetSecure provides and whether it fits your business's payment processing requirements.

About PayNetSecure

Based in Las Vegas, Nevada, PayNetSecure is a merchant account provider that specializes in serving domestic and offshore high-risk e-commerce business types. The company shared an address at one point with another company called NationalACH, and it appears that both PayNetSecure and NationalACH may be related to a third company called Best Solutions Source. PayNetSecure does not list a backend processor or acquiring bank on its website, but the fact that the company specializes in high-risk and offshore merchants means that it is probably partnered with multiple banks.

PayNetSecure Products and Services

Payment Processing

PayNetSecure processes a wide range of major debit and credit cards, with a particular focus on high-risk and high-volume businesses. The company serves merchants in industries such as adult entertainment, foreign exchange, CBD, diet/weight loss, and Bitcoin. Their services include mobile solutions, e-commerce solutions, virtual terminals, access to payment gateways, MOTO (Mail Order/Telephone Order) processing, support for 160 currencies, fraud protection, PCI compliance, recurring payments, ACH processing, QuickBooks integration, and chargeback management. However, the company does not list in-person payment options like POS systems or terminals on its website.

High-Risk Merchant Account Services

PayNetSecure provides payment processing solutions tailored for high-risk merchants. This service is designed to help businesses in high-risk industries manage their payment processing needs effectively, addressing issues such as high chargeback rates.

Domestic and International Processing

The company offers payment processing services both domestically and internationally, supported by a broad network of banking relationships. This extensive network helps ensure account approval for merchants regardless of their location.

Secure Payment Gateway

PayNetSecure uses a Level 1 PCI-DSS compliant payment gateway to secure transaction handling. This compliance is crucial for safeguarding sensitive payment information.

High Volume Processing

PayNetSecure's solutions cater to businesses with high transaction volumes, ensuring efficient handling of large numbers of transactions.

ACH and E-checks Processing

The company offers ACH and eChecks processing services, which can enhance sales by providing an alternative to traditional credit and debit card transactions. This service supports electronic money transfers between banks.

Global eCommerce Solutions

PayNetSecure provides global eCommerce solutions to help merchants expand their customer base internationally. This service supports payments in multiple currencies, making it easier for businesses to enter international markets.

Ecommerce Integration

The service includes eCommerce integration, allowing merchants to quickly set up online sales with comprehensive APIs. This feature is beneficial for businesses looking to establish or grow their online presence.

Virtual Terminals

PayNetSecure offers virtual terminals for secure processing of Mail Order/Telephone Order (MOTO) transactions.

Fraud and Chargeback Protection

The company employs advanced fraud detection tools and chargeback management systems to protect merchants. These systems help in approving legitimate orders while rejecting potentially fraudulent ones.

Cloud Reporting

Merchants can access cloud reporting features for easy management of multiple accounts and transaction data. This centralized dashboard provides comprehensive insights and control over payment activities.

Multi-currency Processing

PayNetSecure supports multi-currency processing, enabling merchants to accept payments in 154 different currencies. This feature facilitates international sales by accommodating various currencies.

PayNetSecure high-risk merchant services — **PayNetSecure focuses on offering processing to high-risk industries like those above**

PayNetSecure Customer Reviews

Here's What Their Clients Say

Customer Reviews Summary
Total Online Complaints	<10
Live Customer Support	Yes
Most Common Complaint	N/A
Recent Lawsuits	No

Clean Complaint Record

At present, we cannot find any negative PayNetSecure reviews, suggesting that the company maintains a favorable reputation and is not associated with any scam or ripoff activities. This is particularly noteworthy considering that high-risk credit card processors often receive more complaints due to the volatile nature of their merchant pool. PayNetSecure’s clean record in this regard is commendable within its industry. While some complaints may inadvertently target PayNetSecure’s partner banks, there is no substantiated evidence to support such occurrences. If you have your own PayNetSecure review to contribute, we encourage you to share it in the comments below.

PayNetSecure Lawsuits

As of now, we have not encountered any class-action lawsuits or FTC complaints against PayNetSecure. Customers dissatisfied with the company’s services and seeking alternative recourse are advised to consider reporting their concerns to relevant supervisory organizations.

PayNetSecure Customer Support Options

PayNetSecure provides 24/7 phone support for its merchants and offers a contact form on its website. However, these support channels alone do not elevate the company to the status of a top-rated provider for customer service.

PayNetSecure Customer Service Number

(888) 572-9638 – Toll-Free Support

Other Support Options

Customer service via email at [email protected]

PayNetSecure Online Ratings

Here's How They Rate Online

No Dedicated Profile

The Better Business Bureau does not maintain a profile for PayNetSecure at this time. NationalACH, which previously shared an address with PayNetSecure, has an “A+” through the BBB with 0 total complaints. This profile does not appear to cover PayNetSecure, so we will not factor a BBB rating into this review for the time being.

PayNetSecure Fees, Rates & Costs

A Closer Look at The Contract

Cost & Fees Summary
Cancellation Penalties	Unclear
Monthly & Annual Fees	Yes
Processing Rates	Variable
Equipment Leasing	Unclear

PayNetSecure specializes in high-risk merchant accounts, offering services such as credit card processing, ACH processing, and high-risk payment solutions. They cater to industries like adult entertainment, CBD, and telemedicine. U.S.-based high-risk clients pay per-transaction fees between 2.45% + $0.25 and 4.5% + $0.30, along with monthly fees ranging from $10 to $20. Offshore high-risk clients are quoted per-transaction fees from 3.5% to 6.95% + $0.65, with monthly fees between $50 and $150. International e-commerce businesses see fees ranging between 2.95% and 4.95% + $0.45, with monthly charges of up to $50. The company doesn’t publicly disclose all fees, including early termination and PCI compliance, indicating these vary per agreement. High-risk accounts are also required to maintain a rolling reserve of 5% to 10% to mitigate chargeback risks.

Although customer reviews are scarce and the company lacks a Better Business Bureau profile, the absence of significant complaints or allegations suggests generally positive reception. PayNetSecure appears to be a legitimate option for high-risk businesses needing specialized payment processing solutions. With its competitive rates and specialized services, it offers a viable solution for clients who understand the implications of their contracts. However, as with any provider, businesses should compare PayNetSecure’s pricing with that of other high-risk merchant account providers to find the most suitable option.

Location & Ownership

Konrad Toch is the president and CEO of PayNetSecure. The company is headquartered at 3773 Howard Hughes Parkway, Las Vegas, Nevada 89169.

PayNetSecure Employee Reviews & Sales Tacitcs

Should You Work For Them?

Jobs & Marketing Summary
Uses Independent Resellers	Yes
Telemarketing	Possible
Misleading Marketing	No
Discloses All Important Terms	No

Independent Resellers

PayNetSecure appears to utilize a combination of independent sales offices and referral partnerships to market its services. The use of independent resellers is usually linked to high complaint totals because these types of sales offices tend to receive less training and oversight than in-house sales teams. In this case, however, we have not found any PayNetSecure reviews that mention deceptive tactics by the company’s sales team.

A Rate Chart Guideline

The PayNetSecure website includes a “Rates” page that provides general price ranges to help clients assess their potential costs through the company. The page lists ranges of rates and fees rather than the lowest possible “teaser” quotes. It therefore appears that PayNetSecure’s rate quotes are genuinely intended to help business owners anticipate their potential costs rather than to mislead them. However, readers should not assume that the costs shown in this table are all-inclusive. If you suspect that PayNetSecure is charging you undisclosed fees, we recommend seeking a third-party statement audit to find and eliminate hidden charges.

PayNetSecure payment processing rates — The rates chart for PayNetSecure

Our PayNetSecure Review Summary

Our Final Thoughts

PayNetSecure rates as a reliable credit card processing provider according to our rating criteria. The company is not showing any public complaints at this time, and the contract terms that it discloses are competitive for high-risk merchant types. Our rating may be subject to change once the company receives more public feedback or establishes a profile with the BBB.

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About The Author

Phillip Parker

In the late 2000s, as a broke college student struggling to make ends meet, I was contacted by a merchant services company after uploading my resume to a job listings website. This company promised substantial commissions and ongoing residual income for simply persuading businesses to accept credit card payments. It seemed straightforward enough—after all, what business doesn’t need to process credit card payments? Following a phone interview with a persuasive “sales director,” I found myself embarking on what I believed would be an easy job that would significantly boost my bank account with reliable monthly income and large sales commissions. However, the lessons I learned would profoundly change my life in ways I could never have imagined.

After completing my sales training, I hit the ground running, eager to make sales. This broke college student was determined to improve his financial situation! My first attempt at a cold call, with no prior appointment, ended with a burly man in his 50s yelling at me to leave, claiming he had been “totally robbed” by someone like me before. As I hastily exited, puzzled and intimidated by his reaction, I couldn’t help but wonder what he meant. Throughout the day, I encountered similar hostility from other business owners, all expressing disdain for the industry I had been so excited to join that morning. Confused and curious, I decided to shift my approach from selling to listening.

I quickly uncovered that the merchant services sector was riddled with unethical practices, including hidden fees, deceptive marketing, fine-print traps, and much more. It dawned on me that I had nearly been tricked by a dubious company into selling overpriced services under contracts with long-term commitments, all without being fully aware of what I was promoting. Outraged, I resigned from that company but learned that there were indeed ethical credit card processing companies that treated their clients fairly. Over the next four years, I worked for one such company, assisting hundreds of businesses in securing cost-effective processing solutions. Yet, I also met many more who had been misled and trapped in onerous service agreements. Determined to help people steer clear of these unscrupulous providers, I launched this website in my spare time, dedicating myself to researching and sharing my findings on every merchant account provider I could investigate.

Gradually, more and more business owners began to discover my articles. As word spread, search engines started to rank my content highly, amplifying its reach. My efforts were making a difference! Eventually, the website garnered enough traffic to enable me to leave my job and focus on it full-time, a journey that has now spanned over a decade. This path has not been without its challenges; unscrupulous company owners have tried to intimidate and sue me into silence on several occasions. Yet, I have stood firm against each threat. Here I am, continuing to publish reviews and articles, hoping to safeguard others from the pitfalls of the credit card processing industry.

If you believe in my mission and wish to contribute, please share my articles on your websites and social media. Thank you for visiting!

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