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Anybody Know or Has Experience in Using PayWeGo.Com As Their Payment Processor?

by Marx Vergel Melencio
7 replies
Hello Warriors,

Would greatly appreciate your help -- I'm trying to find out more about PayWeGo.Com ...

PayWeGo.Com is a merchant account provider and payment processing platform. They also provide money order and check cashing services ...

I've been trying hard to find reviews and more about them on the Web, but there's nothing there --

All I can find are ecommerce sub domains that they set up for their merchants; some posts from their employees in discussion threads about shopping cart platforms and payment processing in general; and a Facebook page without anything significant ...

I also did some whois searches for their domain; and

I got some information about the registrant being the same person I'm talking to right now, and that their office is based in Florida ...

Have you used them? What's your experience?

Or, do you know anything about them?

Please advise ...

We're looking for a high risk MOTO merchant account for our call center's newest inbound telemarketing campaigns; and

We can use our registered company in Texas USA for this, or our registered company here in the Philippines ...

We can't use PP's virtual terminal and 2CO's phone sales platform because they don't accept inbound telemarketing campaigns ...

Hope you'd be able to help me out -- Thanks in advance!
#any experience #any insights #any reviews of #payment processor #paywego.com
  • Profile picture of the author aizaku
    id be weary if i couldnt find chatter online about a product that deals with money

    just saying

    Ike Paz

    PS their site is good looking though
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    • Profile picture of the author Marx Vergel Melencio
      Ike,

      Originally Posted by aizaku View Post

      id be weary if i couldnt find chatter online about a product that deals with money ... Their site is good looking though
      Thanks for your insight. Yes, I am quite aware of these things, which is why I posted this thread to try and request for any help and info that I could get about this processor; and

      I'm also considering these things:

      1. They're offering a 2 to 4-business day settlement period, which means all net payments are deposited straight to our bank 2 to 4 days after processing those payments; and

      2. We also have the option to call our customers and ask them to file for chargebacks when push comes to shove ...

      So, with at least 2 to 4 days of sales, we can reduce our risk to initially losing around $10K to $20K of net sales; and

      When we ask those customers to file chargebacks, then we can recover their payments by asking them to send their paymens anew through a different processor of ours (hoping to find another one soon), or we lose all or a few of them as paying customers, BUT -- The processor also loses their direct merchant accounts with their banks and financial institutions!

      What do you think? I'd greatly appreciate your thoughts about this ...
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      • Profile picture of the author aizaku
        i'd use some constructive pessimism.

        1st. what's the worst that could happen?

        2nd. could your business survive it?

        with "survive" i dont only mean financially i also mean reputation-wise.

        if you answered yes to number 2, then i'd try it

        -Ike Paz


        Originally Posted by Marx Vergel Melencio View Post

        Ike,



        Thanks for your insight. Yes, I am quite aware of these things, which is why I posted this thread to try and request for any help and info that I could get about this processor; and

        I'm also considering these things:

        1. They're offering a 2 to 4-business day settlement period, which means all net payments are deposited straight to our bank 2 to 4 days after processing those payments; and

        2. We also have the option to call our customers and ask them to file for chargebacks when push comes to shove ...

        So, with at least 2 to 4 days of sales, we can reduce our risk to initially losing around $10K to $20K of net sales; and

        When we ask those customers to file chargebacks, then we can recover their payments by asking them to send their paymens anew through a different processor of ours (hoping to find another one soon), or we lose all or a few of them as paying customers, BUT -- The processor also loses their direct merchant accounts with their banks and financial institutions!

        What do you think? I'd greatly appreciate your thoughts about this ...
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  • Profile picture of the author BradVert2013
    It's kind of a red flag that there aren't any reviews or much information about them online. I know there are high risk merchant processors out there, but I can't name any ones specifically. I just use PP.
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    • Profile picture of the author Marx Vergel Melencio
      Brad,

      Originally Posted by BradVert2013 View Post

      It's kind of a red flag that there aren't any reviews or much information about them online.
      Thanks for taking time to share your insight on this. Yes, I agree with you - My thoughts exactly!

      Hope those who have used (or are still using) them see this thread and share their experience; and

      I'll also share my experience with them in this thread if we ever decide to test them out for a risk of 2 to 4 days worth of lost sales, which we'd probably recover at least 20% of those lost sales by calling up those customers, asking them to file refunds / chargebacks and asking them to pay again via another processor (hope we could get another one soon though) ...
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  • Profile picture of the author Sid Hale
    Hi Marx,

    I'd be somewhat leery...

    Originally Posted by Marx Vergel Melencio View Post

    I also did some whois searches for their domain; and

    I got some information about the registrant being the same person I'm talking to right now, and that their office is based in Florida ...
    Does he speak with an accent???

    They are using a residential address rather than a commercial business address.
    They have no voicemail on the business phone number listed.
    They apparently use a 3rd party service (authorize.net) to offer merchant accounts rather than offering those accounts directly.

    from the site:
    PayWeGo is authorized by the Financial Services Authority under the Electronic Money Regulations for the issuing of electronic money, payment instruments and unlimited credit card processing.
    1. Financial Services Authority is the regulator of all providers of financial services in the UK... Not FL, USA

    2. Electronic Money Regulations is a set of UK regulations regarding the issuance and use of pre-paid debit cards.

    3. The term electronic money refers to (at least in the US) the money balance recorded electronically on a stored-value card (i.e. like a Walmart gift card)


    Even without the above findings, I would find it difficult to trust a payment processor who left significant grammatical errors on their web site, and suspect that the service is actually provided by someone with English (UK or American) as a second language. (I don't have a problem with that, except that they represent themselves as a US based business.)

    i.e.
    Just what is "The RETINA PayWeGo payment system"
    Excelling the industry standard for payment processing being fast, secure and reliable.
    +25.221 Happy Clients (vs. 23,221)
    "We can also refund your return shipping costs if you need to send something back." sounds like it is intended as a benefit to the buyer rather than to a seller trying to find a payment processor
    Sellers manager disputes online and we create a fair buyer/seller aggrement (sp?).

    Anyways, just my thoughts...
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    • Profile picture of the author Marx Vergel Melencio
      Hello Sid,

      Originally Posted by Sid Hale View Post

      I'd be somewhat leery...
      Thanks for taking time to share your thoughts on this. I recognize your valuable expertise in this industry through your contributions here in the forum ...

      Originally Posted by Sid Hale View Post

      Does he speak with an accent???
      Seems British ...

      [quote=Sid Hale;10873963]They are using a residential address rather than a commercial business address.
      They have no voicemail on the business phone number listed.
      They apparently use a 3rd party service (authorize.net) to offer merchant accounts rather than offering those accounts directly.[/QUOE]

      I greatly appreciate this, Sid. Those are red flags, especially the part that they aren't making it clear in their website that they're offering an aggregated account ...

      Originally Posted by Sid Hale View Post

      from the site:
      1. Financial Services Authority is the regulator of all providers of financial services in the UK... Not FL, USA
      2. Electronic Money Regulations is a set of UK regulations regarding the issuance and use of pre-paid debit cards.
      3. The term electronic money refers to (at least in the US) the money balance recorded electronically on a stored-value card (i.e. like a Walmart gift card)
      Ah, sounds like this is run by a lone UK merchant offering third party payment aggregation services ...

      Originally Posted by Sid Hale View Post

      Even without the above findings, I would find it difficult to trust a payment processor who left significant grammatical errors on their web site, and suspect that the service is actually provided by someone with English (UK or American) as a second language. (I don't have a problem with that, except that they represent themselves as a US based business.)
      Yes, I agree, Sid. Traces of deception = Scammy operations, most likely ...

      I'll definitely reconsider my options, especially if nobody here can share their experience (hoping for verifiable experience though, if possible) in using them; and

      I'm also hoping (hey, we can get lucky sometimes) that somebody here can help me get a direct high risk MOTO merchant account for our inbound telemarketing operations through our US LLC or PH company though ...

      Thanks again Sid, Brad and Ike!
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