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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, which is notable in an industry often known for less-than-stellar support.
- Merchant One has an impressive array of third-party integrations.
- Merchant One doesn't manufacture its own hardware, so you'll need another vendor for POS equipment.
- 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 for managing payments and reports.
Merchant One checks all the boxes for businesses that need a reliable, full-featured payment processor. It 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 pricing options. It works with businesses to find an appropriate custom pricing model for their needs.
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
We like that Merchant One doesn’t take a cookie-cutter approach to pricing. Instead, it 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, making Merchant One our choice for the best credit card processor for flexible pricing.
In addition to its flexible pricing model, Merchant One provides a well-rounded and robust feature set, making it an excellent option for many small businesses.
Merchant One facilitates credit card payments via terminal swiping, smartphones and tablets. Source: Merchant One
Ease of Use
We tested Merchant One’s credit card processing functionality and found it 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.
We like that Merchant One’s central dashboard displays key tools like the virtual terminal, reporting functions and customer lists prominently. We also appreciate that its virtual terminal makes entering customer information and accepting credit card payments seamless and straightforward. We feel that business owners and their teams will learn Merchant One’s system quickly and get up to speed immediately.
Merchant One’s sleek and friendly UI makes it easy for merchants to start using the platform effectively. Source: Merchant One
Merchant One Features
In addition to flexible pricing, Merchant One is a full-featured payment processor. Here’s an overview of some notable features.
Virtual Terminal
We found Merchant One’s virtual terminal intuitive to learn and use. Organizations can use it to enter customer transaction data in a web browser — a feature that businesses accepting credit card payments over the phone will find particularly helpful. You can also use it to accept automated clearing house payments.
Compared to virtual terminals from other processors, such as Clover, Merchant One’s form can feel a little busy. 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
Many credit card processors provide data analytics features to help merchants better understand sales trends. During testing, we found that Merchant One generated quality reports that effectively summarize and provide insights into sales data, transactions, recurring payments, invoices and more. Comprehensive reports provide crucial insights into what’s happening in a business by allowing you to drill down into the data and stay on top of your business’s finances. One downside we found is that Merchant One doesn’t produce graphs, which could hinder some business owners who prefer data visualizations.
E-commerce
We were impressed by Merchant One’s tools for setting up an online store. Other credit card processors we reviewed, including Stax and Helcim, integrate with several online shopping carts. In contrast, Merchant One’s credit card processing software integrates with over 175 online shopping carts. This gives business owners a great deal of flexibility around what shopping cart software they can use for their websites. 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. Its integrations portal allows businesses to easily sync their payment system with over 300 applications. While this is fewer integrations than Clover, which boasts over 500 options, it’s still far ahead of many other credit card processors we reviewed.
Integrations can significantly simplify a business owner’s life. 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, to help you keep all your business tools connected and working together. Merchant One also offers an open application programming interface — a significant benefit for merchants who want to create custom workflows between the Merchant One system and third-party apps and platforms.
Merchant One offers a wide selection of integrations. Source: Merchant One
Hardware
Unlike some competitors, such as Clover and Square, Merchant One doesn’t manufacture its own hardware. Instead, it’s 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.
The company offers some of these terminals for free when you sign a three-year contract. However, it’s worth noting that some competitors, such as Payment Depot, offer free POS devices without locking you into a contract.
Merchant One is an authorized reseller of Clover POS terminals, including the Clover Station. Source: Merchant One
Payouts
Business owners prefer to get paid sooner rather than later. Merchant One’s payout time is similar to that of competing credit card processors, which 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. For an additional fee, the company offers next-day funding.
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 — a competitive price compared to many rivals we reviewed. We found that some credit card processors charge $15 or more per month, with premium plans reaching $100 or more, although costs vary widely by provider and service level.
However, your actual price will depend on your specific hardware preferences and other factors. We appreciate that 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. Merchant One uses a third-party PCI compliance company and gives merchants full access to that company’s PCI compliance portal. We find it helpful that Merchant One sends merchants reminders periodically to ensure they stay on top of their PCI compliance tasks and stay abreast of credit card payment processing laws and rules. If Merchant One finds that you’re not PCI compliant, you may be charged a monthly noncompliance fee until the issue is fixed.
Pricing and Transaction Fees
Merchant One uses an interchange-plus pricing model, in which you pay interchange fees set by the card networks, such as Visa and Mastercard, 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:
- 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.
These rates combine the interchange fee and Merchant One’s markup, offering flexibility for some businesses, though your actual costs hinge on your transaction mix.
Implementation and Onboarding
Merchant One has a high approval rating and we appreciate that it serves many businesses. For example, if you need a credit card processor for a high-risk industry or have a low credit score, Merchant One may still work with you. Unlike many other credit card processors, Merchant One does not have a list of business types it will automatically reject. 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.
We like that Merchant One’s application and approval process is quick and easy for business owners. 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. In most cases, merchants can start taking payments on the same day.
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 24/7 by phone, which is impressive considering that many other processors maintain limited phone support hours. There is also email service, online messaging and text-based support.
- Account managers: Merchant One provides dedicated account managers — a standout customer support offering.
- 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, unlike some competitors, Merchant One doesn’t have live chat support, a blog or a knowledge base.
We were impressed that Merchant One earns high customer satisfaction scores on independent review sites. The company scores a 4.8 out of 5 on Trustpilot, indicating that many customers are pleased with the help that they receive from Merchant One. While many competitors we reviewed fared poorly on third-party review sites, many customers praise Merchant One’s customer support.
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: Despite its general flexibility, Merchant One locks clients into a three-year contract and may assess a hefty early termination fee if you cancel (depending on your terms). If you prefer a credit card processor that doesn’t lock you into contracts or charge an early termination fee, you may want to consider Helcim. 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: Unlike Clover and Square, Merchant One doesn’t have a mobile app. 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.
