#2 Credit Card Processing Company with Low Fees
Leaders Merchant Services
Leaders Merchant Services is one of iDeal Comparison’s top choices for credit card processing. They provide excellent customer service, competitive pricing and business-enhancing POS systems and software that will help any merchant save on their credit card processing costs and enhance their business. Alongside a dedicated rep, merchants will be able to receive the best information and easily understand the complicated undertaking of credit card processing. When combined with their thousands of positive reviews and positive ratings from the BBB and other reputable sources, Leaders Merchant Services is an excellent option for any size business and its credit card processing needs.
“We have been with Leaders for almost 6 months. Mostly satisfied. The pros: The application and approval process were easy. The cons: I caught a charge back on my statement that was fraudulent. Stuff happens – I get it. In the end, Leaders backed me up and we were able to get it resolved. Since that one billing issue all has been good. Still enjoying low rates, too.” Drea of Ventura, FL
Explore Leaders Merchant Services options for credit card processing as well as equipment and software that will better your business. Because you are deciding on a company that could help your business flourish, we suggest you consider the following questions while you research: 1. What kind of pricing model will be the best fit and 2. Do you need hardware or software that will facilitate a better customer experience? We always suggest that you call Leaders Merchant Services to receive the best prices and information to make your decision.
Leaders Merchants Services is based out of Camarillo, California and supports over 100,000 merchants in a wide range of industries. Leaders Merchants Services accepts most transactions types, including swiping of all major debit and credit cards, EMV chip payments, mobile app payments including ApplePay, SamsungPay and AndroidPay, and pin-based transactions.
One of the benefits of Leaders Merchants Services is that they are willing to take on higher risk merchants, which can be difficult to find. They offer an online application process with a 98% approval rate and no start up fees. Leaders Merchants also offers a $500 assurance program with the promise that they will write a check if they don’t save you money.
It is also important to note that Leaders Merchants currently does not approve businesses in a few industry areas, including marijuana, porn, travel, and non-retail gun sales.
Leaders Merchant Services offers products from Clover, one of the best POS equipment companies. Clover products range from Clover Go, a mobile swipe system connected with Bluetooth, to the 2018 Clover Station 2.0, with touchscreen, EMV chip and mobile pay app readers. With Clover products, merchants can easily customize options and capabilities, including changes to tip amounts, discounts and tax settings, managing inventory, and receiving reporting regarding their business transactions. Coupled with the credit card processing services and support from Leaders Merchant Services, Clover products will help enhance the customer experience and will provide additional features that ultimately help grow your business.
Leaders Merchants offers credit card terminals and pin pads from Verifone, First Data and Pax. Credit card terminals are necessary for any business, because without them it would be extremely difficult to nearly impossible to charge customers. All of the terminals offered are EMV chip compatible, with options for terminals on the go as well as stationary terminals. Every terminal is PCI compliant, so you and your customers will be sure that their data is protected. Terminals can either be purchased or leased from any of these companies, and oftentimes Leaders Merchant Services offers a free terminal or pin pad when starting out.
Leaders Funding is a capital loan service offered by Leaders Merchant Services. If your company has been in business for at least six months and earn $10,000 in sales per month, you may be qualified to receive business loans or merchant cash advancements through the Leaders Funding service. This lending service can help improve or grow your business, have more payback flexibility and can be paid depending on the structure best suited for each individual business. By working with Wells Fargo directly, Leaders Merchant Services has a major lender on board while saving businesses the headache of the process application. Approval can be obtained in as little as two days, and the loan can be in hand in four.
Leaders Funding provides flexible and traditional options to better fit the individual business needs. The terms and rates are relatively low, and no minimum credit score is required. Another feature that sets Leaders Funding apart is the flexibility of use; unlike some lenders, business owners are not required to divulge the use of the loan. As with any lending service, it is always wise to call to receive the most accurate information and best pricing.
Leaders Merchant Services offers Instant Accept, a POS software that is known for easy integration with QuickBooks. With Instant Accept, merchants can invoice and receive payment from virtually any card or electronic payment with its user interface. Users have the ability to create and access customer accounts, invoices and reports quickly and easily. The integration with QuickBooks is a great feature for any business because it reduces the number of accounting errors, allows errors to be fixed in real time and increases overall efficiency of a business’s financial systems. Instant Accept uses SSL technology to encrypt information and ensure all financial and customer information is secure from fraud and hacking. We recommend calling Leaders Merchant Services for pricing on Instant Accept.
Leaders Merchant services offers SimplyPaid, a paperless payroll system that enables merchants to easily run their payouts to employees. Users can instantly pay out to a bank account, ACH payment, PayPal, ApplePay, a virtual debit card or even facilitate a cash or check payment. SimplyPaid offers a secure system to protect personal and financial information alongside excellent customer support and easy set up. Administrators of SimplyPaid can receive real time notifications, payout reporting and confirmations on both a desktop or mobile app. SimplyPaid does not require a minimum amount to fund an account, and is backed by Green Dot, a reputable mobile banking and refund provider. We recommend calling Leaders Merchant Services for pricing for SimplyPaid.
|High-Risk Merchants Accepted|
|POS Equipment And Terminals||Clover, Verifone, First Data, Pax|
|Merchant Cash Advance|
|Offers Customizable Merchant Solutions|
The two fee structures Leaders Merchants Services offers are a Tiered Fee structure and Interchange Plus structure. As typically found with Tiered Fee structures, the three categories are Qualified, Mid-Qualified and Non-Qualified, with the cheapest rates found for debit card transactions with a pin. Under their Interchange Plus structure, Leaders charges a set fee per transaction plus an amount slightly over the industry-set Interchange fees. The Interchange Plus structure will likely be the most cost effective, and some of the fee amounts for both models are negotiable. The reduction in the fees are often dependent on the number of transactions a month or dollar amount of transactions per month, so it is best to bring some of this data when speaking to a representative.
Some additional fees charged by Leaders includes a monthly minimum fee, a virtual terminal monthly fee, maintenance fees and an annual PCI compliance fee. Keep in mind that the default is a three year contract with a cancellation fee between $250-$350. We recommend negotiating if possible, as oftentimes credit card processing companies can be flexible in this area. It is also important to note that Leaders Merchants currently does not approve businesses in a few industry areas, including marijuana, porn, travel, and non-retail gun sales.
Businesses save money with the competitive rates that Leaders Merchants offers. Credit card processing fee structures can be very difficult to decipher, but Leaders makes it simple to understand with low rates to boot. They save merchants even more by providing low fees for payment gateway and other monthly maintenance fees, and are willing to negotiate to provide the best price possible.
|Debit Card Fee||0.15% + $0.18 per transaction|
|Credit Card Fee||1.55% + $0.18 per transaction|
|Debit Gateway Fee||0.99% + $0.19 per transaction|
|Credit Gateway Fee||1.99% + $0.19 per transaction|
|Chargeback Fee||$35 per chargeback|
|PCI Compliance Fee (yearly)||$129|
|Monthly Statement Fee||$5.00|
|Monthly Minimum Processing Fee||$15.00|
|Monthly Gateway Fee||$8.00|
“I didn’t realize how much of an asset a merchant service provider could be until now. I signed up with Leaders two months ago and they provided equipment upon approval. Everything has been working great and my customers have actually noticed a change in my business. Speedy transactions and much more efficient sales. This is exactly what I needed for my small business. Not only have I seen improvements in the way my company is running, I feel like I have a dependable business partner with Leaders. They have made it a priority to do whatever they can to help my business grow!” -Tanner of Oxnard, CA
One of the most important aspects when making decisions about credit card processing companies is finding a company with a positive reputation and great customer service. Leaders Merchant provides excellent support for merchants of any size. Their care for their customers, competitive pricing, customizable business solutions and incredible customer service make them a great option for any business looking to improve and enhance their business.
Leaders Merchants assigns designated representatives for each merchant they partner with. These assigned reps help with questions, concerns or any issues that may arise on a day to day basis when credit card processing is concerned. If your assigned representative isn’t available, Leaders provides 24/7 customer phone service to ensure your business is running smoothly at all times. Being able to have a direct line to help is important for any size business, whether brand new or well-established in their industry. Assigned representatives will also help merchants decide what pricing model is the best fit for their situation and needs. Leaders Merchants makes it simple to apply by providing online applications and has one of the fastest approval times on the market, saving merchants valuable time when going through the set up process.
Leaders Merchants is PCI certified, meaning that they are fully compliant and provide aid with secure transactions and protection from fraud or theft. Through the use of encryption tools, customer and merchant data is kept safe. Additionally, their partnership with Authorize.net ensures that customers know their private information is safe when purchasing online.
Leaders offers a $500 money back guarantee, promising to write a check if a merchant doesn’t save money, which is uncommon to say the least when concerning credit card processing companies. Leaders Merchants has been given an A- rating with the BBB and touts thousands of positive reviews online. Although there are some negative claims and poor experiences, Leaders responds to nearly every verified customer issue or complaint that arises. Other professional and reputable review sites offer exemplary reviews of Leaders, with high marks for their customer service and prices. These reviews, alongside all the other factors that set them apart from competitors, make Leaders Merchant Services a great option for payment processing services.
|A+ BBB Rating|
|Willing to Negotiate|
|Customer Service Number||800-995-2596|