PROS / You don't have to agree to a long-term contract in order to work with this company.
CONS / This company lacks somewhat in transparency, as its costs and fees are not posted on its website.
VERDICT / Flagship Merchant Services is an above-average payment gateway service with interchange-plus and tiered pricing options and month-to-month service.
Flagship Merchant Services is a payment gateway service that resells accounts from iPayment, which is one of the largest services in the nation. Flagship takes clients of all sizes, from small beginning businesses to larger companies, such as Subway and Verizon. It has strong customer service and solid terms as well as different pricing models to choose from.
You can choose between interchange-plus pricing and tiered pricing with this payment gateway company. This can be especially helpful to new businesses as Flagship Merchant Services' tiered rates can be a good choice for some businesses. These tiered rates are particularly good for qualified debit cards and credit cards at 0.38% and 1.58%, respectively. The rates for mid-qualified cards, such as rewards cards, are higher.
The interchange-plus rate Flagship offers is average in this industry at 0.30%. You should know that the quotes listed here are basic rates, and may change depending on the amount your business processes monthly.
Flagship requires some monthly fees from its customers, including a monthly minimum of $25 and a PCI-compliance fee of $99, payed in monthly increments. The monthly minimum is determined by processing fees on each transaction, not the whole purchase amount. These fees are standard across the industry. This payment gateway provider does have a comparatively low monthly fee of $7.95 that you need to pay.
As we researched payment gateways, we looked for consistency and transparency in the companies we reviewed. While some service terms are posted on Flagship's website, there's hardly any information about fees and pricing available. When we reached out to Flagship's agents via phone and email, however, the people we spoke with were consistent, and we heard the same rates and other information from several different people.
This merchant gateway has exceptional setup speed and service terms. There's no long-term contract to sign, so you have a flexible month-to-month plan. There's no cancellation fee if you cancel with Flagship, so you can move on to a different provider should you ever need to do so. If you opt to receive free equipment from Flagship, you are required to sign a 12-month contract, after which your service will continue on a month-to-month basis. Among all of the payment gateways that had contract requirements, this is among the most reasonable.
As soon as your application is approved by Flagship, your account can be set up the next business day. Funds are deposited into your business's account within two business days following a transaction. This is within the industry average.
Upon signing up with Flagship, you are assigned a dedicated account representative. The contacts we had in the company were quick to respond to emails and were continuously helpful with information about terms and rates.
Flagship Merchant Services is a solid choice for a payment gateway service. While it isn't as transparent with rates and fees as other companies we reviewed, it does offer both interchange-plus and tiered pricing models with good rates. It also charges low monthly fees without the burden of a long-term contract.