Leaders Merchant Services is a prominent player in the U.S. payment solutions sector, offering a wide range of services suitable for businesses from startups to large enterprises. This review explores their payment solutions offering that includes credit card processing and comprehensive merchant services.
Service Overview
Leaders Merchant Services provides versatile solutions for in-store, mobile, and online payment processing, ensuring businesses can manage transactions efficiently. Their equipment offerings, including top-tier Clover POS systems and First Data terminals available via lease, are perfect solutions for a many business needs, bridging traditional and innovative payment methods.
At a glance
Editorial Score: 9.9/10
- Rates: Leaders’ competitive rates stand out in the industry, offering cost-effectiveness in the long run.
- Fees: Despite some transparency issues, the fee structure aligns with industry standards, making it a convenient option for businesses.
- Services: Their comprehensive offering covers essential merchant services, enhanced by modern NFC/mobile wallet payments and complete POS systems.
- Additional Benefits: Unique offerings include EMV devices, cash advances, and QuickBooks integration, adding value beyond basic payment processing.
- Customer Support: Available 24/7, essential for businesses operating beyond typical hours.
Pros and Cons
Pros
- Wide acceptance of payment methods, including major credit cards and mobile wallets, increasing customer convenience.
- The streamlined and quick account setup process facilitates a hassle-free onboarding experience.
- A comprehensive range of hardware and software solutions, suitable for a variety of business types.
Cons
- Some customer feedback highlights challenges in accessing timely and effective support.
Pros include a diverse range of payment options, quick setup, and user-friendly systems. However, clearer pricing details and more accessible support would enhance their service.
Detailed Features and Offerings
Leaders Merchant Services stands out with features designed for both merchant services and credit card processing:
- Contactless Payment Solutions:
Supports Apple Pay, Google Pay, and Samsung Pay alongside NFC-enabled terminals for touch-free transactions. (Official provider of “SwipeSimple”). - E-commerce Tools:
Tools like the CartManager Shopping Cart enable customized shopping experiences with real-time calculations for shipping and taxes. - Business Funding:
Offers both advances and loans, supporting business growth with financial flexibility. - Hardware Selection:
Includes various Clover systems and a free mobile card reader upon signup. - QuickBooks Integration:
Seamless integration with QuickBooks for efficient accounting processes.
Customer Experience
The company prioritizes customer experience, this shows in their quick and user-friendly application process and commitment to quick approvals, often within the same day. The 24/7 technical support is a key advantage for businesses operating globally or outside standard hours, despite some challenges in reaching support in a timely manner.
Unique Selling Propositions
LMS distinguishes itself with several unique offerings:
- Signup Bonus: New clients can choose from a free EMV credit card terminal, mobile card reader, or payment gateway—valuable hardware that can otherwise be a significant expense.
- $500 Assurance Program: A bold satisfaction guarantee that promises $500 if you don’t save money with Leaders, reflecting confidence in their pricing and service quality.
- One-Stop-Shop: Leaders goes beyond standard payment solutions providers, providing additional business solutions like website design and implementation, which are not commonly found with similar providers.
Customer Support and Services
Leaders Merchant Services provides extensive customer support through multiple channels including phone, email, and live chat, aiming for accessibility around the clock. Despite these provisions, there are mixed reviews on the quality of support offered. Many users have expressed satisfaction with the responsiveness and helpfulness during the initial setup and ongoing use. However, other reviews highlight issues with support quality, particularly in handling technical problems and billing disputes outside of standard hours, suggesting some reliance on third-party support services. Prospective clients should weigh these factors and consider the overall service quality in light of their specific business needs and expectations.
Pricing and Fees
Pricing flexibility is a hallmark of Leaders Merchant Services, with rates varying based on the type of business and sales volume. Key fees include the annual PCI Compliance Fee of around $129 and a monthly service fee of approximately $7.95. Competitive swiped card rates start at 0.35%, and keyed card rates at 1.79%.
Final Assessment
Established in 2000, LMS has built a massive presence in the industry, known for effective payment solutions despite some challenges in transparency and customer service. With its broad service offerings and strong customer support system, LMS is a solid option for businesses seeking extensive payment processing solutions.
Overall Rating:
Conclusion
Leaders Merchant Services is a strong choice for businesses seeking a comprehensive payment processing solution. The company’s commitment to customer service, competitive rates, and additional business services make it a notable contender in the merchant services market. However, businesses should carefully consider the three-year contract and ensure the pricing structure meets their specific needs before committing.
