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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.
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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:
Other small business products and services include:
ProPay Inc. offers four types of corporate solutions:
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