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Merchant One Review and Pricing
Table of Contents
- Merchant One's pricing model provides rate flexibility and may include free equipment.
- Merchant One's customer service is highly rated.
- Merchant One has an impressive array of third-party integrations.
- Merchant One doesn't manufacture or provide POS hardware.
- You're locked into a three-year contract and early termination may require paying a fee.
- Merchant One doesn't have a standalone mobile app.
Merchant One provides an intuitive platform, various payment acceptance options and an easy application and approval process. The platform integrates with hundreds of third-party apps and has high customer satisfaction ratings. Plus, it offers text marketing, loyalty programs and gift cards to help you boost sales. We were most impressed by Merchant One’s flexible custom pricing model.
Merchant One Editor's Rating:
8.9 / 10
- Pricing and fees
- 9.5/10
- Customer service
- 9.7/10
- Third-party integrations
- 9.4/10
- Payment options
- 8.5/10
- Added POS tools
- 7.5/10
Why We Chose Merchant One as the Best Credit Card Processor for Flexible Pricing
Merchant One tailors pricing to each client business’s unique needs. The company works with merchants to create custom pricing and packages, allowing nearly any small business to start accepting credit card payments and digital payment methods with ease. Other credit card processors we evaluated didn’t offer this level of pricing customization. Merchant One also provides a well-rounded and robust feature set.
Merchant One facilitates credit card payments via terminal swiping, smartphones and tablets. Source: Merchant One
Ease of Use
Merchant One’s credit card processing functionality is intuitive and easy to use. The platform’s modern user interface (UI) features a logical layout with tabs for credit card payments, checks, invoices, reports and more.
Merchant One’s central dashboard displays key tools like the virtual terminal, reporting functions and customer lists prominently. Its virtual terminal makes entering customer information and accepting credit card payments seamless and straightforward. Merchant One’s system is easy for business owners and teams to learn quickly.
Merchant One’s sleek and friendly UI makes it easy for merchants to start using the platform effectively. Source: Merchant One
Merchant One Features
During our review of Merchant One, we especially liked the following features.
Virtual Terminal
We found Merchant One’s virtual terminal intuitive to learn and use. Businesses that accept credit card payments over the phone can easily enter customer transaction data in a web browser. You can also use it to accept automated clearing house payments.
Merchant One’s form can feel a little busy compared to virtual terminals from other processors, such as Clover. However, Merchant One securely stores customer information in the “customer vault” for easy access and recurring payments.
Merchant One’s virtual terminal makes it easy to enter customer information manually. Source: Merchant One
Reporting
Merchant One’s reporting and data analytics features help merchants better understand sales trends, including:
- Summaries of sales data, transactions, recurring payments, invoices and more.
- Reports that allow you to drill down into the data for more detailed financial insights.
One downside is that Merchant One doesn’t produce certain data visualizations such as graphs.
E-commerce
We were impressed by Merchant One’s tools for setting up an online store.
- Merchant One’s credit card processing software integrates with over 175 online shopping carts.
- You can also build your own hosted checkout and “buy now” buttons.
Integrations
We were impressed by the breadth of Merchant One’s compatibility with third-party apps.
- Sync your payment system to over 300 applications via the integrations portal. For example, you can integrate your payment system with the best accounting and invoicing software, such as QuickBooks Online, and the best customer relationship management (CRM) software, such as Salesforce, Zoho and HubSpot.
- Merchant One also offers an open application programming interface, so you can create custom workflows between their system and third-party apps and platforms.
Merchant One offers a wide selection of integrations. Source: Merchant One
Hardware
Merchant One doesn’t manufacture its own hardware, unlike some competitors, such as Clover and Square.
- Merchant One is an authorized reseller of several POS devices, including the Pax S80, Pax S500, FD-130 and Verifone VX-520.
- Merchant One also offers Clover devices, including the Clover Station, Clover Mini and Clover Flex.
- Some of these terminals are free when you sign a three-year contract.
Merchant One is an authorized reseller of Clover POS terminals, including the Clover Station. Source: Merchant One
Payouts
Merchant One’s payout time is similar to that of competing credit card processors. That means you won’t need to worry about cash flow problems from slow processing times.
- Customers can expect payouts from Merchant One to arrive in their bank account within two to three business days.
- Merchant One offers next-day funding for an additional fee.
If you prefer same-day funding, check out our review of Chase Payment Solutions. Chase is the only competitor we reviewed that offers same-day deposits.
Merchant One Pricing
Merchant One charges a flat monthly fee of $13.95 for its payment processing services. However, your actual price will depend on your specific hardware preferences and other factors. This flexibility allows merchants to create a custom solution that best fits their needs. Some factors to consider include the following:
- Hardware options: Merchant One provides some free POS equipment to new merchants under specific contract terms. You can also lease a variety of POS equipment from Merchant One, including Clover terminals and mobile payment solutions.
- Early termination fees: Merchant One requires a minimum three-year term. You may face an early termination fee if you cancel before your contract ends, particularly if you obtained specific Clover equipment. Fees and conditions vary, so review your contract carefully.
- Payment Card Industry (PCI) compliance fee: The PCI compliance fee is included in your $13.95 monthly fee. Customers get full access to Merchant One’s third-party PCI compliance company’s portal. Merchant One sends customers periodic reminders to ensure they complete all PCI compliance tasks and know about any changes to credit card payment processing laws and rules. You may be charged a monthly noncompliance fee if Merchant One finds that you’re not PCI compliant.
Pricing and Transaction Fees
Merchant One uses an interchange-plus pricing model, in which you pay interchange fees set by the credit card networks, plus a fixed markup. Your transaction rates will vary based on how payments are processed. Your business type, volume and the type of card your customers use will also affect your rates, which combine the interchange fee and Merchant One’s markup:
- In-person transactions: For debit and credit cards swiped, tapped or dipped into a card reader or POS terminal, rates range from 0.29 percent to 1.55 percent per transaction.
- Keyed-in transactions: For cards manually entered into a POS or virtual terminal, rates range from 0.29 percent to 1.99 percent per transaction.
Implementation and Onboarding
Merchant One has a high approval rating and serves many businesses, including those with low credit card scores and organizations in high-risk industries. According to the company, any legitimate business can be approved, and Merchant One states on its website that it has a 98 percent approval rate.
The application and approval process is quick and easy. You complete the initial application online and then speak on the phone with a representative to discuss your business and specific credit card processing needs. Merchants can start taking payments on the same day in most cases.
If you buy a Clover POS system from Merchant One, the company will help you set it up, offer training and provide in-house support.
Customer Service
We found Merchant One’s customer support options to be quite robust compared to other competitors:
- Support channels: You can reach the company by phone 24/7. There is also email service, online messaging and text-based support.
- Account managers: Merchant One provides dedicated account managers.
- Help Center: The platform also has a help center that offers tech support videos and options to submit a product or billing support case. However, Merchant One doesn’t have live chat support, a blog or a knowledge base like other processors we reviewed.
Merchant One earns high customer satisfaction scores on independent review sites. The company scores a 4.8 out of 5 on Trustpilot. Many customers praise Merchant One’s customer support, while many competitors we reviewed fared poorly on third-party review sites.
Merchant One offers 24/7 phone support. Source: Merchant One
Limitations
Merchant One is an excellent option for many merchants, but we did identify the following limitations:
- Strict contract: Merchant One locks clients into a three-year contract, despite its general flexibility, and may assess a hefty early termination fee if you cancel (depending on your terms). Consider Helcim if you prefer a credit card processor that doesn’t lock you into contracts or charge an early termination fee. Read our in-depth review of Helcim to learn more.
- No proprietary hardware: Merchant One doesn’t manufacture its own hardware, so businesses must look to another vendor for their POS system needs. Business owners who want an integrated hardware and software system could consider alternatives, such as Clover, Square or Helcim.
- Minimal software capabilities: The company’s software also lacks some advanced tools competitors offer. For example, the reporting module generates tables only and doesn’t produce graphs for easy visualization.
- No mobile app: Merchant One doesn’t have a mobile app, unlike Clover and Square. This could hinder you if your goal is to run your business through a smartphone. Check out our Stax review if you’re interested in a credit card processor that offers a mobile app.
Methodology
We researched and analyzed the best credit card processors to find the right services for small businesses. Our investigation process included viewing demos, testing free trials, examining user reviews carefully and interacting with each vendor’s customer service team. We looked at the usability of each company’s hardware and software offerings and evaluated how fair the contract terms are to merchants.
Furthermore, we scrutinized the rates and fees charged by each processor. When considering flexible pricing specifically, we paid particular attention to how willing the providers were to customize their pricing options.
FAQs
Bottom Line
We recommend Merchant One for …
- Businesses seeking flexibility and custom solutions around pricing.
- Business owners who value personalized customer service.
We don’t recommend Merchant One for …
- Business owners who want an integrated POS and credit card processing solution.
- Customers who prefer to conduct business on their smartphones via an app.
