Sekure Merchant Solutions, also known as Sekure Cost Review, is a credit card processing company that's been in business since 2006 and serves more than 25,000 businesses. It's headquartered in Montreal and also has a New York address. It works with multiple processors to provide in-person and online credit card processing services.
Sekure Merchant Solutions pairs its merchants with a dedicated account representative and seeks to offer them long-term processing solutions with competitive pricing. You need to be currently processing to work with this company.
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Pricing and Terms
Sekure Merchant Solutions' website says it can get you the lowest credit card processing rates, but it doesn't disclose any information about its rates, fees or terms online. It can offer you either tiered rates or interchange-plus pricing, whichever is the best fit for your business. You must contact the company directly for a pricing quote and allow sales reps to review your current processing statement or 1099-K form, so they can provide you with pricing that's lower than your current rates.
The fees you will pay depend on the processor the company set you up with. You'll pay a monthly fee and have a monthly minimum. Some of the processors Sekure works with charge setup fees up to $99, but you may be able to have this fee waived. You'll also pay a PCI compliance fee. These range from $65 to $119 per year, though some processors prorate it and charge it monthly instead of annually.
This company works with processors that have standard merchant service agreements with 36-month terms. If you choose to exit your contract before the end of the term, there is an early termination fee.
Sekure Merchant Services can set you up with a merchant account from several processors, and you can accept credit cards in person at a brick-and-mortar location, on the go and online. It works with businesses in many industries, including retail, restaurant, fuel, grocery, hospitality, professional services and e-commerce.
Processing Equipment Options
Countertop terminals, POS systems and mobile credit card readers are available. Specific equipment and costs depend on the processor Sekure Merchant Solutions sets you up with. The rep we spoke with said the company tries to set you up with a processor that has a free placement program.
Keep in mind that if you accept free equipment or participate in a free placement program, you may be required to sign a lengthy processing contract (most have 48-month terms), and there may be an additional monthly fee for insurance, service or maintenance.
You'll want to read the contract to make sure you understand exactly what you're agreeing to and how much it will cost you. In most cases, you'll be required to return the equipment if you close your account, so you'll want to ask about restocking fees and wear-and-tear penalties. Some credit card processing equipment contracts are noncancelable.
Processing Equipment Reprogramming
If you already own a credit card terminal or point-of-sale hardware, Sekure Merchant Services may be able to reprogram it for you so you can continue using it.
The company says it delivers "a turnkey solution" that can include next-day funding, free EMV processing hardware and integration with your website. It also briefly mentions gift cards, online ordering and tip adjustment features. But there isn't a full menu of available feature options on its website, so if there are features you're interested in, such as check acceptance, a loyalty program or a merchant cash advance, you'll need to ask about them when you contact the company for a quote.
Sekure Merchant Services provides its clients with a dedicated relationship manager and offers customer service and tech support by phone, email and live chat Monday to Friday, from 9 a.m. to 5 p.m. EST. When you initiate a chat, the form asks for your merchant identification (MID) number, which is somewhat unusual, but all you need to supply is your name to begin the chat. The representative we spoke with was reluctant to provide pricing information unless we provided processing statements, but politely and patiently answered our questions.
Sekure Merchant Services doesn't work with businesses that aren't already processing, so if your business is new or doesn't yet accept credit cards, this isn't the payment processing company for you.
The company lacks pricing transparency and has lengthy contracts. It doesn't disclose its rates online and isn't as forthcoming as other companies with its pricing when you request a quote. It also requires you to provide more information than other processors to provide this quote. Where most processors ask a few questions about your business type, industry, monthly processing average and ticket size, Sekure requires you to submit your previous processing statement.
Last year, the company agreed to pay $6,250,000 to settle a class-action lawsuit. Class representatives claim the company violated the Telephone Consumer Protection Act by using an automatic telephone dialing system to make telemarketing calls on cellular lines. Despite this settlement, the company has many new complaints on its BBB profile regarding its calling practices, with merchants reporting overly frequent, aggressive sales calls.
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