PaySimple is a relatively new entry into the merchant account and payment processing industry. Founded in 2005 they are currently based out of Colorado. The difficulty with new merchant providers is that with a limited number of accounts in their portfolio there is a lot less resources available for reviewers like us to work with.
They are currently rated an A by the Better Business Bureau and have been accredited with the BBB since 2008. There are limited complaints about PaySimple online, which is likely due to both the limited footprint they have in the market, as well as a strong repoire with their current client based.
They do employ a 3 year contract with a standard cancellation fee of $250 for those merchants that wish to discontinue their service with PaySimple prior to that time. Their rates and fees are competitive but they offer more package plan type offers which for most merchants means an easier sign up process and review of their statements, but unfortunately means that they will likely be overpaying. For many merchants the question will come down to whether the increased costs and worth the simplicity of ease that PaySimple offers through these plans.
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