This ProPay Review covers some of ProPay Inc. history, describes some of ProPay's products and services, and pricing information on ProPays merchant account processing fees. Keep reading to learn the pros and cons of using ProPay's merchant account services.

History 

ProPay Inc. got its start in 1997 as a credit card processing service as well as an electronic payment service, serving both small businesses and large-scale enterprises.

With headquarters in Lehi, Utah, ProPay serves a range of clients from entrepreneurs in home-based businesses to multi-billion dollar corporations. 

Products and Services

ProPay's offerings are divided into two categories: Small Business services and Corporate services. By offering fixed rates and publishing them online, ProPay claims to be making the merchant account process transparent, so you see exactly what you'll be paying for. Nevertheless, a careful look at their website reveals a list of incidental fees that one has to click through the main price list to see it, and it carries a caveat that it may not be an accurate reflection of all fees associated with the account. The user is referred to the account agreement. 

• Small Business Offerings

Small Business merchant account services have five levels with set annual fees: Basic at $34.95, Premium at $59.95, Premium Plus at $119.95, Platinum at $299.95, and Custom, the cost of which will depend on the selection of services. 

With Basic, only VISA® and MasterCard® are accepted, with a fee of 3.50% + $0.35 per transaction. Processing is done via the Internet, checking account transfers are $0.35 each, and there is a $1,000.00 monthly processing limit.

The Premium package accepts VISA® and MasterCard®, with a lesser fee of 3.25% + $0.35 per transaction, and Discover® is accepted with the same fee. American Express® is accepted, but at a slightly higher fee of 3.75% + $0.35. Processing is done via the Internet and additionally by telephone, and prepaid MasterCard cards can be linked to the account. An annual statement is provided, checking account transfers are only $0.30 each, and there is a $3,000.00 starting monthly processing limit.

With the Premium Plus package, the percentage rate on VISA®, MasterCard®, and Discover® drops to 2.99% + $0.30, while American Express® is 3.49% + $0.30. The other difference from the Premium package is a $0.25 transfer fee.

Platinum includes the same services with 2.69% + $0.25 charged for each of the three most-used credit cards, and 3.19% + $0.25 for American Express®. The transfer fee drops to $0.10.

Incidental fees on this group of accounts includes:

• an annual membership fee of up to $299.95
• a credit card refund fee of up to $0.35
• a fee for paper statements of $10.00 per statement
• a monthly maintenance fee ranging between $5.00 - $30.00 depending on the account type.
• chargeback on a credit card at $15.00
• return fee on an electronic check (ACH) transfer of $10.00
• insufficient fund fee of $20.00
• retrieval request fee of $10.00
• investigation fee of $10.00

Other small business products and services include:

• ProPay MicroSecure™ Card Reader
• ProPay eAuction accounts for eBay®
• ProtectPay™, a repository for securing data outside of the merchant's system (i.e., sensitive data, and the responsibility it entails, is held by ProPay)
• End-to-End payment processing, combining ProPay MicroSecure™ CardReader and ProtectPay™
• Corporate Offerings

ProPay Inc. offers four types of corporate solutions:

• ProPay Payment Networks provides a range of options for corporate merchants to take advantage of in customer transactions in any form - on the Internet, in person, or over the phone, and includes the flexibility to work with distributors or consultants. Specialized solutions include the proprietary ProPay SpendBack™, ProPay SplitPay™, and ProPay Instant Pay™, along with corporate merchant accounts.
• ProtectPay™ is the same data security system offered to small business customers
• End-to-End payment processing is the same complete data system offered to small business customers.
• API Integration using Secure Socket Layer (SSL) and Authentication Tokens in all API transactions to ensure security and data protection.

Related Article: What is a Merchant Account >>