Newtek Merchant Solutions Review – Services, Fees & More
Newtek Merchant Solutions is a leading credit card processing company that offers businesses of all sizes a complete suite of payment processing solutions. Newtek has been in business for over 20 years and is one of the most trusted names in the industry.
In this Newtek Merchant Solutions review, we’ll take a close look at the company’s products and services, fees, and more.
Newtek Merchant Solutions Products and Services
Newtek Merchant Solutions offers a full range of payment processing solutions for businesses of all sizes. Credit card processing is the core of the company’s product offerings, but it also provides a suite of other products and services designed to help businesses run more efficiently and effectively.
Here’s a closer look at some of the products and services offered by Newtek Merchant Solutions:
Credit Card Processing: Newtek Merchant Solutions offers businesses of all sizes a complete suite of credit card processing solutions. The company offers both traditional and mobile credit card processing, as well as integrated point-of-sale (POS) solutions.
Newtek Merchant Solutions offers businesses of all sizes a complete suite of credit card processing solutions. The company offers both traditional and mobile credit card processing, as well as integrated point-of-sale (POS) solutions. ACH Processing: Newtek Merchant Solutions also offers ACH processing services, which allow businesses to accept payments via direct deposit. ACH processing is a convenient and cost-effective way to accept payments, and it’s especially popular with businesses that invoices customers or clients.
Newtek Merchant Solutions also offers ACH processing services, which allow businesses to accept payments via direct deposit. ACH processing is a convenient and cost-effective way to accept payments, and it’s especially popular with businesses that invoices customers or clients. Check Processing: In addition to credit card and ACH processing, Newtek Merchant Solutions also offers check processing services. Check processing is a convenient way to accept payments, and it’s a popular payment method for businesses that invoices customers or clients.
In addition to credit card and ACH processing, Newtek Merchant Solutions also offers check processing services. Check processing is a convenient way to accept payments, and it’s a popular payment method for businesses that invoices customers or clients. Gift Card Program: Newtek Merchant Solutions offers a gift card program that allows businesses to offer gift cards to their customers. The gift card program is a great way to increase sales and loyalty, and it’s a convenient way for customers to make purchases.
Newtek Merchant Solutions offers a gift card program that allows businesses to offer gift cards to their customers. The gift card program is a great way to increase sales and loyalty, and it’s a convenient way for customers to make purchases. Loyalty Program: Newtek Merchant Solutions also offers a loyalty program that allows businesses to reward their customers for their loyalty. The loyalty program is a great way to increase customer retention, and it’s a convenient way for customers to earn rewards.
Newtek Merchant Solutions Fees
Newtek Merchant Solutions charges businesses a variety of fees for its products and services. Credit card processing fees are the most common type of fee, but businesses may also be charged for other products and services, such as gift cards, loyalty programs, and check processing.
Newtek Merchant Solutions doesn’t publicly disclose its credit card processing rates or fees, so it’s difficult to say exactly how much the company charges for its services. However, we’ve seen reports that the company charges businesses a per-transaction fee of around 2.9% + $0.30, which is on par with other credit card processors.
In addition to per-transaction fees, businesses may also be charged monthly or annual fees for using Newtek Merchant Solutions products and services. These fees can vary depending on the products and services used, but they typically range from $5 to $10 per month.
Newtek Merchant Solutions also charges businesses a termination fee if they cancel their account within the first three years. The termination fee is equal to the total amount of credit card processing fees charged during the account’s lifetime.
Newtek Merchant Solutions Reviews
Newtek Merchant Solutions has a mixed reputation in the credit card processing industry. The company has been in business for over 20 years, and it’s one of the largest credit card processors in the United States. However, Newtek Merchant Solutions doesn’t have an A+ rating with the Better Business Bureau (BBB), and it has a 1.5-star rating on Trustpilot.
The vast majority of negative Newtek Merchant Solutions reviews mention hidden fees, long-term contracts, and poor customer service. Here are a few examples:
“They hide their rates by not disclosing them until after you sign the contract.”
“Customer service is unresponsive and unhelpful.”
“I was promised one thing and then got charged for something else.”
In contrast, positive Newtek Merchant Solutions reviews mention the company’s competitive rates and fees, its wide range of products and services, and its long history in the credit card processing industry. Here are a few examples:
“Newtek has been a great company to work with.”
“They offer a lot of products and services, so you can find what you need.”
“They have competitive rates and fees, and they’re always willing to negotiate.”
If you’re considering using Newtek Merchant Solutions for your credit card processing needs, we recommend reading as many reviews as possible to get a better idea of what the company is like to work with.
Newtek Merchant Solutions BBB Rating
Newtek Merchant Solutions has an A+ rating with the Better Business Bureau (BBB), but it’s not accredited by the organization. The company has been in business for over 20 years, and it has a 1-star rating on Trustpilot.