Leap Payments, headquartered in Austin, Texas, is a merchant service provider founded in 2005 by Will Detterman. It processes all major debit and credit cards for most business types but its marketing is much more focused on high-risk merchant accounts.
Leap Payments provides a range of services for merchants, include card processing, gift cards, checks, and online processing. Leap Payments offers credit card terminals for point-of-sale transactions, and virtual terminal options for internet and mobile transactions.
According to some complaints, the company keeps charging more than originally agreed and they are also accused of withholding funds.
Leap Payments doesn’t specify standard contract terms. The company does offer seasonal downtime for some merchants, and offers a 3-month trial period for merchants.
Based on some complaints listed with the BBB, the company continued to charge a monthly fee after cancellation and used deceptive business practices by not explaining the terms of the contract.
Due to the many serious allegations and the failure to disclose a legal entity, we place Leap Payments on our “Red Compliance” list.