SPECIALIZES IN B-TO-B
DEDICATED CARDFELLOW REP
ACCEPTS HIGH RISK
In any event, Paycron claims it offers processing services for businesses of any size, and can support businesses in “high risk” industries that are not always able to get processing through other companies. Paycron also offers offshore processing.
The company, located in Florida, is not currently a registered ISO (reseller). Here's what Paycron has to say, in their own words:
We are at the underwriting level, going in. We currently process in excess of 25 billion dollars a year.
We evaluate a risk prior to the application process to make sure it is acceptable and we will never shotgun your account into the industry, but instead we will strategically place your account directly with the underwriters for that particular risk.
Let’s take a look at services, costs, and other details in this Paycron review.
Paycron is located in Florida, and offers this introduction video about its services:
Paycron’s website refers most frequently to credit card processing for ecommerce businesses, but the company also offers services to traditional brick-and-mortar businesses as well as smartphone/mobile payments, and virtual terminal (phone and mail order) payments.
The company offers next-day funding for some businesses.
Paycron sells services through independent agents and inside sales reps. Both independent sales agents and inside sales staff receive ongoing training with Paycron. Staff have access to a handbook of guidelines to follow, which is updated from time to time, helping to ensure consistency among credit card processing sales staff.
While Paycron references comprehensive ecommerce services, it doesn’t provide any details on gateways, hosted payment pages, or shopping cart compatibility. We’ve reached out to the company for more details. Paycron does state that it provides the ability to take payments in multiple currencies, perfect for businesses with a global client base.
Paycron states that it offers simple countertop credit card machines or full-fledged point of sale systems with advanced functionality. However, it doesn’t specify brands or models, nor does it include details on whether you’ll purchase equipment outright or be subjected to a lease. We’ve reached out to Paycron for more details and will update this profile as applicable.
These days, most processing companies offer a solution for accepting cards through your smartphone or tablet so you can take payments when you’re on the go. Paycron offers this service as well, though the company doesn’t provide details on the app used or any compatible card readers for swiping. We’ve contacted Paycron for more details. Paycron states that you can accept payments anywhere that you have mobile coverage.
Taking orders by mail or over the phone? A virtual terminal lets you securely key the card details into a web portal on your computer to process the payment. Some virtual terminals can also allow you to attach a card reader through the USB port or with Bluetooth so you can swipe cards if your customers physically come in to your business to pay and you prefer to take the payment through your computer instead of a countertop terminal.
Related Article: Virtual Terminals for Credit Card Processing.
Many businesses are concerned about chargebacks. Paycron helps ensure you're informed by sending notification of the chargeback, allowing time for you to respond. The company also offers a free guide for best practices to help prevent chargebacks in the first place.
For businesses that need equipment, Paycron offers options for traditional countertop terminals, POS systems, and mobile apps. The company also sells optional accessories such as cash drawers and receipt printers.
For POS systems, Paycron recommends the Clover Station.
Paycron also confirmed to CardFellow that it supports multiple gateways and shopping carts for businesses that accept credit cards online. The company will work with you to determine the right solution for your needs.
Depending on the equipment, Paycron often offers the first machine for free. You can purchase additional machines as needed.
Unfortunately, Paycron offers very little information on its website about rates and fees, pricing models, contract terms, early termination fees, equipment leases, or anything else regarding costs for its services.
However, we spoke with Paycron for more details. The company confirmed to CardFellow that it offers multiple pricing models and allows businesses to choose, but prefers interchange plus pricing for its transparency. (Interchange plus is the pricing model we suggest here at CardFellow.) In addition to interchange plus, Paycron offers tiered, flat rate, and automatic surcharge pricing models.
The pricing that Paycron does publish is for starting rates for tiered pricing and interchange plus. As of the writing of this review, interchange plus rates are listed as 0.4% above interchange. Paycron's published rate for tiered pricing is 1.29% + 10 cents per transaction. This rate is on top of the costs of interchange as well. The company specifies that rates will vary depending on the business.
Pricing subject to change.
Early termination fees may apply in some cases. Be sure to confirm with Paycron whether your contract includes an ETF.
Paycron doesn’t have a Better Business Bureau profile, and doesn’t publish customer testimonials on its website at this time. However, the company does have a number Google reviews as well as reviews on its official Facebook page.
There are a few dozen Google reviews, giving the company an average of 4.7 stars. The positive reviews say that Paycron goes out of its way to assist businesses, that they're helpful and easy to use, that they save businesses money, and that they're professional.
The negative reviews complain that Paycron cold calls numbers that are on the national Do Not Call list, or that they call until you block their number.
The company's public Facebook page includes 6 reviews totaling 4.3 stars out of 5. Most of the reviews are 5 stars, with a single 1-star review. The 5-star reviews praise Paycron for great service, low rates and fees, and integrity. The lone negative review complaints that a telemarketer from Paycron called even though the reviewer’s number is on the Do Not Call list. Paycron responded to the negative review apologizing for the mistake.
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