Overall Score
How did they treat you?
RAYL Innovations Reviews & Complaints
| Pros: | Cons: |
|---|---|
| Broad hardware compatibility. | Slower dispute resolution. |
| Advanced security features. | Limited global reach. |
| User-friendly interface. | Potentially higher fees. |
| Competitive processing rates. | Complex setup process. |
| Efficient customer support. | Limited third-party integrations. |
Overview
In this review of RAYL Innovations, a Canadian SaaS company, we will take a close look at the various aspects that have sparked discussions and scrutiny. We'll examine the company's rates, fees, contract terms, common complaints, and industry ratings. We will also focus on RAYL Innovations’ payment processing practices and the differences between its public statements and marketing materials.
We'll explore the alleged connections between RAYL Innovations and the controversial PayVida, highlighting the roles of key figures like Robert Ronning and Ryan Strauss. By reviewing employee and user feedback, we aim to provide a balanced view of the company's operations and reputation. Additionally, we'll cover RAYL Innovations' marketing tactics, customer support quality, and the challenges and controversies it faces in its payment processing services.
We encourage readers to share their experiences and insights to add valuable context to our review of RAYL Innovations.
About RAYL Innovations
RAYL Innovations is a Canadian SaaS company based in Vancouver, British Columbia.
RAYL Products and Services
Payment Processing
RAYL has indicated that it no longer provides payment processing through its RAYL.PAY service, as confirmed by Jeremey Wright of RAYL in an email. Despite this, the company continues to advertise its intention to offer payment processing on its website. RAYL's advertised plans include an interchange-plus pricing model and POS solutions with same-day funding. However, no additional details have been provided regarding how or when these services will be implemented. If you have any further information or experience regarding RAYL's payment acceptance process or integrations, please leave it in the comment section below.
Digital Banking
RAYL Innovations offers digital banking services that allow businesses to manage their finances efficiently. These services include online banking and mobile banking, providing easy access to financial resources and helping to streamline financial operations.
Business Management
RAYL Innovations provides a range of business management services aimed at improving operational efficiency. These services cover various aspects of business operations, from administrative tasks to strategic planning, to enhance overall productivity.
RAYL.Apptive App
The RAYL.Apptive App is a business management application that integrates several business functions. It includes tools for managing sales, purchases, invoicing, inventory, human resources, and customer relationship management (CRM), centralizing business operations to facilitate easier management of processes and data.
Ronning, Zoost, and Strauss Connection
There appear to be connections to the now-shuttered payment processor PayVida and its controversial leadership team, including Robert Ronning (previously Robert Zoost) and Ryan Strauss, the two founders and frontmen of that company. PayVida's former CFO now serving as the current CEO of RAYL. PayVida’s leadership was the subject of several lawsuits and some overall shady business practices that can be read about in our PayVida Review. While the exact nature of this relationship isn’t entirely clear, RAYL appears to be trying to shed some of the bad PR associated with PayVida.
CPO received information from an unverified source outlining the connections between the two companies. While we initially could not confirm all the details of the email, we can confirm some of the connections listed in this review and the sender appears to be well-informed about the leadership structure of the two companies:
“Jeremy Wright, former Director and CFO of PayVida now Director / CFO of RAYL
Jaime Zimmerman, former Chief Tech of PayVida and now Chief Tech of RAYL
Ali Sinawi Director/ former Investor Relations of PayVida now Investor Relations of RAYL”
The email also details active emails ryan@rayl and rob@rayl, accusing the two of being associated with RAYL even if not publicly acknowledged. A quick glance at Robert Ronning’s LinkedIn showed a “Lead Visionary” position at “Exciting New Payment company” since 2020. The profile also contains multiple activity posts concerning RAYL. While we have never taken into account PayVida’s puzzling leadership’s legal troubles in our reviews, the initial uncertainty of their involvement in the new company certainly did not inspire confidence.
In early 2022 Jeremy Wright reached out in an email and clarified the exact nature of RAYL’s relationship with Ronning and Strauss: “RAYL engaged Ronning and Strauss as consultants to advise on strategy and operational matters respectively. RAYL ended its working relationship with Ronning July 29, 2021, as RAYL no longer required Ronning’s support. As at the date of this submission, Strauss continues to provide support to RAYL on a consulting basis.”
The reported connections between the two companies appear to be somewhat true, although Ronning and Strauss only participated in the creation of RAYL Innovations from a consulting standpoint and were never officially on the corporate team. Jeremy Write also contends he was only a “fractional CFO” for PayVida and never a director, though multiple online sources still list him as such. While we tried to confirm his title through multiple online sources, his own LinkedIn profile was strangely missing any information concerning PayVida. Mr. Wright stressed the lack of connection between PayVida and RAYL Innovations.
Mr. Wright was also adamant that RAYL Innovations has never taken credit card payments, although their website previously advertised payment services and rates: “RAYL empowers you to accept credit cards and even hidden payment methods using QR Codes and Crypto Currencies.” These particular service listings have since been removed from the website. It would appear this correction is in reference to RAYL Innovation’s recent IP acquisition and the expected relaunch of their payment services.
Location & Ownership
RAYL’s headquarters are located at Suite 520 – 470 Granville Street Vancouver BC V6C 1V5, Canada, though other sources list Suite #704 – 595 Howe Street Box 35 Vancouver, BC V6C 2T5. Nicholas Jeffery is listed as CEO and Jeremy Wright is listed as the CFO of RAYL, while David Tafel is listed as Director.
RAYL does not disclose its partner banks through which it processes its payments.
RAYL Innovations Customer Reviews
Here's What Their Clients Say
| Public Complaints | Low |
|---|---|
| Lawsuits | None |
| Customer Support | |
| Recent Lawsuits | No |
Overview of RAYL Reviews
RAYL, emerging as a new entity in the payments landscape, has a limited number of reviews available online. This scarcity reflects both the brand’s novelty and its efforts to distance itself from the legacy of PayVida. The available feedback, sparse in both criticism and praise, suggests that RAYL is still establishing its presence and reputation. We encourage you to share your RAYL experiences in the comments below to help build a clearer picture of the company’s service quality.
Legal and Regulatory Status of RAYL
No significant class-action lawsuits or Federal Trade Commission (FTC) complaints have been identified against RAYL. Clients seeking non-litigious remedies for their concerns with RAYL are advised to report them to appropriate supervisory organizations and contribute reviews to enrich the discourse in the comments section of this article.
Assessment of RAYL Customer Support
RAYL provides a corporate contact number but lacks a specialized customer service line, leading to a provisional “C” rating for customer support. The absence of a dedicated service number may hinder timely and efficient resolution of customer queries and issues.
Contact Information for RAYL Support
- 604-837-7990 – RAYL Corporate Offices
- 604-417-4440 – Investor Relations
Additional Customer Support Channels
- Live chat support
- Email: [email protected]
This updated content aims to offer a balanced perspective on RAYL, focusing on the sparse online feedback, legal standing, and customer support options. By integrating SEO-optimized terms related to “reviews,” “complaints,” and “customer service,” this revision seeks to improve discoverability and provide valuable insights for individuals researching RAYL.
RAYL Innovations Online Ratings
Here's How They Rate Online
No BBB Profile
Rayl Does not maintain a Better Business Bureau profile at this time, and we will not take it into account for our rating.
RAYL Innovations Fees, Rates & Costs
A Closer Look at The Contract
| Cancellation Penalties | Possible |
|---|---|
| Monthly & Annual Fees | Unclear |
| Processing Rates | Interchang-plus |
| Equipment Leasing | Yes |
Uncertain Contract Terms
RAYL’s website indicates an interchange-plus model, but according to RAYL’s CFO Jeremy Wright, the company has never provided payment processing services. This is perplexing given the presence of a “Payment Solutions” section on the RAYL website, typical of payment processing businesses, offering connections with POS terminals and card swipers.
Contract Negotiation
As we currently lack access to a RAYL merchant account contract, we urge the company to provide one for review. Without this information, it remains unclear what rates or fees RAYL would entail. We invite businesses that have engaged with RAYL for payment services to share their experiences in the comments below. It’s essential for business owners to negotiate pricing and contract terms and thoroughly review all agreements before signing. We also recommend exploring our list of the top merchant account providers.
RAYL Innovations Employee Reviews & Sales Tacitcs
Should You Work For Them?
| Uses Independent Resellers | No |
|---|---|
| Telemarketing | No |
| Misleading Marketing | Possible |
| Discloses All Important Terms | No |
No Independent Sales Teams
From the information we have gathered about sales positions available at RAYL, we have found no indication that RAYL enlists outside independent sales agents. This is encouraging for businesses considering RAYL. Their interchange-plus model also encourages transparency in their rates and fees. This compares favorably to our list of best credit card processors. We implore our readers to share their experiences with RAYL’s sales staff in the comments below.
Potential Hidden Costs
While the upfront costs of the interchange-plus model are very easy to see, there are reports of extra charges associated with storage. We currently do not have any information about this and how it relates to clients using the RAYL system. If any of our readers have current information on extra costs associated, please comment below.
Our RAYL Innovations Review Summary
Our Final Thoughts
We advise caution when considering RAYL as a credit card processing provider, mainly due to concerns about the background of its leadership. There is a significant likelihood that the leadership at RAYL is the same as, or closely connected to, the leadership of PayVida, a company previously criticized for its business practices. Adding to these concerns, RAYL has made efforts that seem aimed at obscuring these potential connections and has neither confirmed nor denied links to individuals like Robert Ronning/Zoost or Ryan Strauss, who have histories of questionable conduct.
While RAYL’s complaint record currently appears clean, the possibility of having leaders with a past of unethical behavior is troubling. Moreover, it is particularly disconcerting that RAYL has explicitly denied processing payments to us, despite having a clearly marked Payment Solutions section on their website, which adds a layer of confusion and mistrust about their operations. We strongly encourage anyone with insights, experiences, or feedback regarding these issues to share their thoughts in the comment section below to help others in the community form a well-rounded view of the provider’s reliability and integrity.
If you found this article helpful, please share it!
Anon
Ryan Conrad Strauss is reported to be engaged either directly with Orchard Technology Inc. or under contract in a Payment Processing Consulting role.
Legal documents from the case Payvida Solutions Inc. v. Spetko, dated March 15, 2022 (Docket No. S152343, BC Supreme Court, Vancouver Registry), indicate a significant legal outcome where PayVida Solutions Inc. has been held liable for damages amounting to $1.4 million. Ryan Strauss, as the sole director of the implicated entity, is responsible for all damages awarded.
In a notable development, it was revealed that Robert Ronning and Jeremy Wright, though effectively serving in leadership roles, were not officially documented as Directors or Shareholders. Their business titles suggested these positions, yet they lacked formal legal acknowledgment in company records. This oversight may have significant implications in the broader context of the lawsuit.
Michael Spetko
We sued PayVida and won 1.4 million. Supreme Court Justice Madame Douglas ordered PayVida to pay.
Can you post the Order after Trail if I send to you ?
Phillip CPO
Hi Michael, yes, you can send it to our info@ email address.
Jeremy Wright, Director
RAYL has never offered merchant payment services since incorporation. The Company is a FinTech start-up, has launched it’s 1st module, RAYL.Apptive; has plans to provide merchant services through a fulsome payment ecosystem currently under development, but that solution will be offered in the future, with no release timeline as at today’s date.
Any disclosure about merchant payment services on RAYL’s website has always been future-oriented, i.e. “will” and “would”. If there was current tense disclosure, it would have been in error and immediately removed upon review by management.
Phillip CPO
As of the posting of this comment, RAYL promotes on its website an intention to facilitate payments at some point in the future. Due to this, we intend to maintain a review of the company.