PAYARC
Key Data
- Trading Name: PAYARC
- Legal Entity: PAYARC LLC
- Activities: Payment Processing Company
- Location: USA
- Regulations: registered ISO/SP
- Key People: Zachary Martinez/Jared Ronski
- Latest news: PAYARC
- Latest update: July 23, 2024
PAYARC LLC is a payment processing company offering a range of solutions for businesses, including customizable payment gateways, POS systems, and API integrations.
Offering
Their offerings include:
- customizable payment gateways
- point-of-sale (POS) systems
- API integrations, which are designed to streamline transactions and enhance security through end-to-end encryption and robust fraud protection.
- Payment Facilitator
- Merchant Accounts
Serving Industries
- Restaurants
- Retail
- Ecommerce
- Professional Services
- Healthcare
Regulation
PAYARC LLC is a registered ISO/SP of Commercial Bank of California, Evolve Bank & Trust, FFB Bank, and a payment facilitator of Pathward Bank. An ISO (Independent Sales Organization) partners with banks to provide businesses with merchant accounts and payment processing services. They act as intermediaries, helping businesses set up the necessary accounts and tools for credit and debit card transactions, ensuring smooth and compliant payment operations.
Key People
PAYARC LLC’s leadership team includes Zachary Martinez, CEO and co-founder, who focuses on innovation and customer service, and Jared Ronski, President and co-founder, who drives growth and partnerships. John Minutaglio, the newly appointed CTO, brings over 30 years of experience in technology and financial services. Keith McNeely, promoted to Chief Risk Officer, has been pivotal since the company’s inception, contributing significantly to risk management and strategic growth
Negative Findings
PAYARC LLC has received several negative reviews and complaints. Issues reported include undisclosed fees, poor customer service, and a $500 early termination fee that customers found unexpected. There are also complaints about the complexity and lack of transparency in their fee structure, leading to difficulties in accounting and reconciliation. Additionally, some customers experienced delays in receiving their funds and found the company’s support unresponsive or rude when resolving issues. PAYARC holds a low rating on the Better Business Bureau (BBB) website, with specific complaints about hidden contract terms and ongoing debits even after contract cancellation (CardPaymentOptions.com)(BBB) (GetApp).
PAYARC Lawsuits
We have not found any outstanding class-action lawsuits or FTC complaints filed against PAYARC.
Customer Reviews
Trustpilot:2,8 Stars with 20+ Reviews
capterra: 4,7 Stars with 60+ Reviews
Conclusion and Rating
PAYARC LLC offers a variety of payment processing solutions and meets all necessary compliance requirements, earning them a green rating in this area. However, from a merchant perspective, there are significant criticisms, particularly regarding transparency and customer service. Common complaints include undisclosed fees, complex fee structures, and a $500 early termination fee. While some users appreciate the platform’s features, issues such as delays in fund deposits and unresponsive support tarnish its reputation. Due to these various criticisms, we rate PAYARC orange from a merchant standpoint.
