Processor Directory > PaySafe

PaySafe Review

In 2014 Meritus Payment Solutions, a California based processing company, was purchased by PaySafe Group, a company headquartered in the Isle of Man and regulated by the UK. The company now seems to use both names interchangeably, but still has a profile with the Better Business Bureau under Meritus Payment Solutions.
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Acquiring Bank(s)


Merrick Bank

In this PaySafe review and profile, we’ll report details of its services and reputation and explain why this company can charge some early termination fees that are over $25,000.

What services can PaySafe offer my business?

Whether you want to accept payment cards in your store, online, through mail/phone orders, or on mobile devices, PaySafe is equipped to do the processing for you. The company can also help your business accept checks and ACH payments, offer gift and loyalty cards, and acquire working capital with a merchant cash advance.

Payment Card Processing

More payment options means easier sales. PaySafe allows you to accept Visa, MasterCard, American Express, Discover, Diner’s Club, JCB, Carte Blanc, Voyager, and Wright Express, as well as debit cards and EBT.

Check Processing and ACH Payments

Some businesses avoid checks altogether because of the risk and hassle of accepting them. With electronic check processing and ACH payments you can eliminate both. PaySafe uses Check 21 to help you convert paper checks into electronic transactions. By doing this, the checks are verified and guaranteed at the point of sale then deposited directly into your business account. No more bounced checks, no more trips to the bank.

ACH payments is much like an electronic check in that you are deducting funds directly from a customer’s bank account. By obtaining the transfer information, you can set up one time or recurring payments. It is an efficient and cost effective alternative to processing checks.

In-Store Payments

Whether you use a standard terminal or a full featured point of sale system, PaySafe can provide options for you. You will be able to accept magstripe cards, EMV chip cards, and contactless payments depending on what equipment you have. If you need equipment, PaySafe has a variety of options for you to choose from.

Online Payments

Having a store online means you are available to your customers 24/7 anywhere they have internet access. PaySafe offers Payment XP as a means of accepting payments through your website. With Payment XP you can offer plenty of options for your customers whether they prefer to pay with credit cards, debit cards, gift cards, checks, subscriptions, ACH, or Check 21.

Check 21 allows you to convert paper checks into an electronic transaction. After using a check scanner, the check can be verified (reducing chances of fraud) then directly deposited into your account.

Mail/Phone Order Payments

You can turn your own computer into a means of accepting payments by using a virtual terminal. Both Payment XP and Meritus PC are offered through PaySafe and can allow you to accept payment cards, checks, and more through your internet-connected computer.

Mobile Payments

If you are in an industry that keeps you on the move (like deliveries, transportation, or at-home services) or simply want to sell at venues other than your store, PaySafe offers both wireless terminals and Meritus Mobile to take mobile payments. Wireless terminals are pricier but have features like EMV card acceptance and built-in printers. With Meritus Mobile, you can accept card payments through your smartphone or tablet.

Gift and Loyalty Cards

Interested in increasing your clientele? What about rewarding repeat business to keep your existing customers from going to competitors? Gift cards and loyalty cards can help. PaySafe offers both options to businesses of all sizes.

Merchant Cash Advance

If you need working capital and fast, PaySafe says it can offer you $10,000 to $2,000,000 with a merchant cash advance. While offers like this may sound tempting, they can cost your business a lot of money. It’s worth looking in to other options before agreeing to one.

What about equipment through PaySafe?  

PaySafe does not list exact equipment options but can provide standard terminals, credit/check readers, point of sale software systems, and wireless terminals. The company also mentions a free terminal deal. Be aware that offers like this are often paired with higher rates and fees, making the free terminal a very costly proposition.

Leasing equipment is also an option, but one that is best avoided and for similar reasons. Leasing equipment is extremely costly and usually comes with its own binding contract.

PaySafe Rates and Fees

Exact details of pricing are not published, but if you want fully disclosed cost information for your business, you can request a PaySafe quote through CardFellow. Our free service allows you to request and compare pricing from any processors you choose, without the hassle of pushy sales people. Sign up here!

Contract Terms

There’s a contract, which isn’t a problem, but a liquidated damages clause for cancelling the contract, which is a big problem. Liquidated damages are calculated by taking your average monthly cost and multiplying it by the number of months left on your contract. If you are a larger business, these kinds of early termination fees can be preposterously large. But even smaller scale businesses may not be able to sustain this kind of financial hit. 

This excerpt from the company’s contract, found on the Better Business Bureau website, explains how PaySafe can charge over $25,000 in early cancellation fees, as one business alleges it did:

“Termination of this Agreement prior to the expiration of the initial Term or Renewal Term shall result in the assessment of an ‘Early Cancellation Fee’ in an amount equal to the greater of (A) the average monthly processing fees charged to the Merchant over the last 12 months (or such shorter if Merchant for less than 12 months) multiplied by the remaining months of the Agreement or (B) $495.00; in addition to all other amounts owed by Merchant to Meritus…”

The lowest possible amount for cancellation is $495. The highest is limited only by your credit card processing volume and months remaining on the contract.

Sales Tactics

PaySafe utilizes robocalling, an automatic dialing system for sales pitches. We received one such call here at CardFellow, which you can listen to here: PaySafe robocall. We've also transcribed the call. 

This is an after-hours merchant service notification that may be pertinent to you. If you have undergone an equipment update or PC change but were not offered a rate review, Paysafe Payment Processing would like to offer you a rate review. Please note that rate reviews to lower costs are by request only and can be initiated by calling a Paysafe representative at [number] Monday – Friday from 8am to 5pm Central Standard Time.

On the plus side, Paysafe doesn't try to disguise who they are in this call, which some companies do. However, we suggest caution when providing processing information. Handing over a statement for a rate review is an easy way for processors to promise they can "beat" your rates while not necessarily giving you the best possible deal. It's a better idea to get a quote in writing before providing statements. 

PaySafe Reviews 

As you might have expected, the main complaint from PaySafe reviews is about the extremely high early cancellation fees, but reviewers also mention held funds, hidden fees, hard to reach customer service, and accounts being cancelled without warning.

The company profile with the Better Business Bureau has an A+ rating and only 13 complaints closed in the last 3 years. The majority of complaints, however, are from angry people that are wondering where thousands and tens of thousands of their earned dollars have gone. One complaint alleges that they did not elect to terminate their account early, but were still expected to pay close to $20,000 because PaySafe chose to close the account before the contract was over. Other reviewers claim similar experiences.

Another common complaint is that due to chargeback issues, large sums of money are held for periods of over 6 months. Frustrated by this, the reviewers decided to close their accounts only to find out that the early termination fee absorbs most of the funds they were waiting on.

Google has 4 other reviews that all give PaySafe the lowest rating possible. One complaint is similar to those with the BBB, two of the complaints claim that funds were held without reason, and generally the Google reviews allege that the company is incompetent with its customer service and resolution of these issues.

PaySafe has 4 examples of success stories on its website, but there are no testimonials.

If you have an experience working with PaySafe, we want to hear from you! Leave a PaySafe review here!


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Posted by Martin on Apr 02, 2020


We used Paysafe for years. As you have read, they have the WORST customer service. No one ever answers the phone and are only available by email, not answering for days. At one point they stopped depositing ACH for 3 months with NO NOTICE just because the depositing account had not been changed or updated in so long. Why would it change? Its amazing when you really dig into your bill how they deceive you vs what they say they charge and what you pay when you add all 30 plus fees.

Posted by j Black on Dec 05, 2019


This company constantly has hidden fees and will screw you over in a heartbeat. Customer service (if you can ever get someone) is horrible. Rate seemed good until you get through getting hammered with everything and the times it takes to get it fixed is unreal. STAY AWAY FROM THEM!

Posted by Wally Gee on Nov 25, 2019


ZERO. Yes, not a 1 or a 2 but a ZERO for customer service. Can NEVER EVER get to a live person...NEVER! Fee rates too high, switched to another service provider. BYE NOW!

Posted by Michael on May 22, 2019


I have had Paysafe for over two years. Paysafe's rates have saved me thousands of dollars after I switched from Heartland. Their service has been outstanding.

Posted by Brock Davis on Feb 12, 2019


Do not use PaySafe! I sell merchant services for many credit card processors. I will never write another account with PaySafe. The company is totally incompetent from top to bottom. Customer service is Horrible. They flat out lie to you to tell you what you want to hear.

Posted by sad merchant on Jul 31, 2018


Horrible merchant processor, they will make you jump through hoops and go through hell before they release your funds to you. They will hold your money while they make up new requirements in order to retrieve your funds. They keep you changing and submitting forms in hope that you finally give up and they keep your money

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