Key Data

• Trading Name: Clearent
• Legal Entity: Clearent, LLC 
• Activities: Payment Processing Company
• Location: USA
• Regulations: registered agent for Central Bank of St. Louis
• Key People: Pamela Joseph/Dan Geraty

Clearent is a payment processing company that offers a range of financial services aimed at businesses of all sizes. Founded in 2005 and headquartered in Clayton, Missouri, Clearent provides payment solutions designed to streamline transactions, improve cash flow, and enhance the customer experience.

Offering

Clearent offers a suite of payment processing solutions and financial services designed to meet the needs of a diverse range of businesses.

Key offerings include:

• Credit Card Processing: Efficient and secure acceptance of major credit cards.
• Point-of-Sale (POS) Systems: Advanced systems for retail and hospitality, integrating inventory management and CRM.
• Mobile Payment Solutions: Mobile card readers and apps for on-the-go payments.
• Online Payment Gateways: Secure processing for online transactions, compatible with e-commerce platforms.
• Real-Time Reporting and Analytics: Tools providing insights into financial performance and sales trends.
• Transparent Pricing: Clear, straightforward billing without hidden fees.
• Customer Support: Dedicated assistance for setup and troubleshooting.
• Merchant Cash Advance: Quick access to capital based on future sales.

Regulation

Clearent, LLC, serves as a registered agent for several banks, specifically the Central Bank of St. Louis in Missouri, Citizens Bank, N.A., in Providence, Rhode Island, and Pathward, N.A., in Sioux Falls, South Dakota. In this capacity, Clearent acts on behalf of these financial institutions to provide various services, which might include payment processing, merchant services, or other financial operations that facilitate transactions between the banks and their customers. This relationship enables the banks to extend their services through Clearent’s platform, ensuring efficient and secure financial operations.

Serving Industries

Low to High Risk

• B2B
• CBD & Hemp
• Healthcare
• Restaurant
• Retail

Customer Reviews

Clearent, LLC has received mixed reviews on platforms such as Trustpilot and the Better Business Bureau (BBB). On Trustpilot, Clearent’s ratings indicate some customer dissatisfaction, though detailed specific ratings and reviews are sparse. Similarly, on the BBB, Clearent holds a C+ rating and is not accredited. The BBB profile highlights a significant number of complaints closed over the past three years, indicating ongoing customer service and satisfaction issues​

• Trustpilot: 2,8 Stars with 3 Reviews.

People

Clearent, LLC’s leadership team includes CEO Pamela Joseph, who has extensive experience in the payments industry from companies like VISA and Elavon. Founder Dan Geraty serves as Chairman of the Board. Other key executives are Matthew Morrow (Chief Revenue Officer), Brent Coles (Chief Financial Officer), and Justin Rohde (Chief Transformation Officer)​.

News

Recently, Clearent, LLC has been active with several significant updates and developments. In early 2024, they launched the Xplor Pay Mobile App, aimed at enabling small businesses to capture credit card payments anywhere and anytime through a merchant account. This mobile app is part of their broader strategy to enhance payment processing solutions for small and medium-sized businesses​.

Conclusion and Rating

After careful review, we found no negative aspects surrounding Clearent. From a compliance perspective, we rate Clearent as Green, given that all necessary data is available and transparent. However, from a risk perspective, we rate Clearent as orange due to their relatively low and often poor customer ratings. This indicates there is room for improvement in customer satisfaction and experience.