YapStone got into payment processing in 1999 by launching RentPayment, the credit card processing payment option for apartment rentals.
Designed for rent payments, YapStone lets you take regular payments from long-term tenants, payments for short-term vacation rentals, storage unit rental payments, and more.
YapStone lets you quickly and safely take credit cards, debit cards, ACH payments, and cash through multiple channels, including online, by email, via mobile app, by phone, by text, or in person.
YapStone enables payment acceptance through a payments API that functions as a gateway for online payments, using point-of-sale swipers for in-person transactions, mobile payment options through the use of apps, and customizable web applications to use with a virtual terminal for entering payment information you receive by phone. All methods benefit from security technologies, including encryption, to help reduce the chances of fraud.
Since YapStone offers payment processing for businesses like vacation rentals, you might find it necessary to take payment in another currency. YapStone supports multiple international currencies, including Euros, Canadian dollars, British pounds, and more. You can choose your settlement currency to make sure you get paid in your own preferred currency.
YapStone doesn’t provide many details about equipment. As the company focuses heavily on rental payments, many YapStone customers accept payment online or in-person using a virtual terminal and therefore don’t need point-of-sale equipment. Online and virtual terminal payments require a computer with internet access to use. YapStone may be able to support some types of in-person swiper devices if you prefer to use that type of equipment.
YapStone is Level 1 PCI compliant, helping to reduce the chances of fraud or other security issues. Additionally, YapStone uses third party fraud prevention software monitored by a dedicated payments safety team.
YapStone doesn’t publish rate or fee information to use their services. No problem! You can get a quote from YapStone directly through CardFellow. Your quote will be fully disclosed. To get started, sign up for a free CardFellow account and request a quote from Yapstone.
YapStone’s reputation is intertwined online with the reputations of its offshoot companies (like VacationRentPayment.com and RentPayment.com) which means that many of the available reviews are from tenants and renters, not from the business using YapStone for payment processing.
Yelp is one of the places where YapStone reviews are from business owners. As of late November 2015, there are 2 one-star reviews for a one-star total rating for YapStone. Reviews accuse YapStone of predatory practices and fee structures, poor customer service, and inability to fix problems.
YapStone, Inc. doesn’t have a profile with the Better Business Bureau, but RentPayment.com does. Neither company name is accredited with the BBB, but RentPayment.com’s profile indicates an A+ rating nonetheless. Companies that have profiles but not accreditation have not necessarily sought out accreditation, so it isn’t an automatic indication that the BBB advises against the company.
As of late November 2015, RentPayment.com has had 27 complaints lodged with the BBB in the past 3 years. The majority of the complaints (17) are in the category “Billing/Collection Issues” with the remaining complaints spread among “Problems with Product/Service” (7 complaints), “Advertising/Sales Issues” (2 complaints), and “Delivery Issues” (1 complaint.)
Not all details are available, but readable complaints allege inaccurate late fees, high payment fees, and fees not clearly disclosed. However, these complaints seem to primarily come from tenants complaining about the fees, not from businesses complaining about their processing fees. It is not clear if (or how many) of the remaining complaints apply to business owners using YapStone instead of tenants paying.
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Posted by Lily on Aug 02, 2017
Never had an issue with hidden fees or customer service. They were able to save me a couple of hundred a month compared to my last merchant account. Had an issue with chargebacks and they were able to help me signup with a cdrn to mitigate chargeback rate. I would recommend them over the last company I was with for sure.
Posted by Tobi on May 02, 2017
I received a fraudulent chargeback from YapStone. On their website they advertise that they use "advanced fraud detection techniques" but then admitted to me that they didn't even check the name on the credit card used by the renter - and they refused to provide me any information so that I could check the credit card against the ID or pursue the person who filed the chargeback. YapStone makes their money by charging exorbitant fees to fight chargebacks - that they don't ever win. They have a horrible reputation for a reason. Run, don't walk, away from this company.
Posted by Val Lannes on Mar 25, 2017
Be very careful if you choose Yapstone aka Vacation Rent Payment as your merchant provider. You have to know that you are on your own with no protection against fraudulent chargebacks. Their chargebacks department makes a profit when you opt to go to "pre-arbitration" for $300. Yes, $300. Their success rate is barely 5%. They throw you a bone here and there. Everything is automated. How do I know? It's very simple. When the credit holder files a claim and the response from Yapstone for being decline has nothing to do with the claim itself, you know it's all computer generated. What you get as a response is that you can opt to go to Pre-Arbitration at the cost of $300. So, if you want a merchant account that does not care about you as a client, you found the right company. If you want someone to never return your calls, you found the right company. They stay in business because of their HomeAway account. That's another reason they don't care about you. You're just disposable. Just another number. Their chargeback department is just for show.
Posted by Rich on Feb 28, 2017
Have used them to process payments from travelers booking my home on Home Away / VRBO. They use the chargeback process to recapture payments made after travelers stay at the house. They do little to guarantee against traveler fraud. Had to delete my listings on Home Away / VRBO & went entirely with Airbnb who handles their own payments. I believe Yapstone is ripe for a class action lawsuit. Many other people have posted similar complaints on other review websites.
Posted by Dan on Feb 23, 2017
Yapstone handled my holiday home payments. They talk of having 'state of the art' fraud checking techniques yet cannot screen out basic fraud. This means that when a fraudulent transaction takes place they simply reverse the payment from your bank account. When I escalated this to Director level, they acknowledged this is a problem but refused to offer any compensation or change their operating procedures. This is a company that has allowed fast growth ambitions to drive a coach and horses through basic customer care. Avoid and select an alternative - I have.
Posted by Arny on Oct 13, 2016
Why these people need to charge a large service fee is crazy. Once you put in whatever you are supposed to pay, they add a fee based on the amount you owe. So if you owe $500, you are gonna pay them $15 to get it processed online by robots. It's really an abuse of the system if you ask me.
Posted by JEM on Oct 06, 2016
I agree with the above reviewer. I paid by credit card previously and was charged $9.95 for the transaction. Today I went to pay for another 6 months and the service fee was outrageous. I called and was told going forward there is a 2.95% added to the amount plus the $9.95 transaction fee. I asked to speak to someone in management and was told they would call back, it has now been 4 days and no return call. Unfortunately the representatives assigned to customer questions really do not know or are not told why the fees are so high. Also you cannot find any information on the website which defines services fees. I would never recommend this company to anyone.
Posted by Eric McIntosh on Sep 01, 2016
I started to use them for my VRBO rental because VRBO forced me to. These people charge outrageous fees and you can't get anyone on the phone to discuss issues with, and they do not return calls.