Pineapple Payments isn’t the oldest player in the merchant services industry, but they are quickly rising in ranks to become a powerful force in the market. The company provides a wide variety of services and accepts all payments, making working with them a tempting offer.
But are they the real deal? Or is this all just smoke and mirrors? Let’s find out.
In this review, we’ll discuss Pineapple Payment’s services, rates, and history so you can determine whether they are a good fit for you.
- Overview of Pineapple Payments
- Pineapple Payments Review At a Glance
- How Much Does Pineapple Payments Cost?
- Pineapple Payments Complaints and Service
- Strategy for Advertising and Sales
- Is Pineapple Payments Worth Your Money?
- Final Thoughts
Overview of Pineapple Payments
Pineapple Payments, founded in 2016, is a merchant account provider that provides a comprehensive variety of terminal and software-based payment processing services.
Pineapple Payments announced the acquisition of Payline Data in October of 2017, which allowed them to grow significantly, and they now serve approximately 10,000 merchants with a total yearly processing volume of more than $2 billion due to its acquisition of that company. Despite being a relatively new firm, its innovative payment technology, and experienced senior leadership have enabled it to thrive in the three years it has been in operation.
In 2019, Pineapple Payments purchased Boston-based Beacon Payments and Pittsburgh-based merchant account provider CardChamp.
Finally, the mega-processor Fiserv bought Pineapple Payments in 2021 and Fiserv continues to run Pineapple.
Payment Processing with Pineapple
Pineapple Payments accepts all major credit cards and debit cards. They also accept ACH payments, mobile payments, and e-commerce. The company uses Worldpay, TSYS, and First Data to provide omnichannel payment processing services to merchants of all sizes.
They also provide Quickbooks integration services in addition to payment processing, which enables businesses to set up recurring invoicing, AR/AP tracking, and customizable payment pages like bill-pay portals.
Pineapple Payments Review At a Glance
- Pineapple Payments and contract terms: The company provides interchange-plus pricing on a three-year contract via WorldPlay, FirstData, or TSYS. If you want to terminate the contract before it’s through, you’ll have to pay a $495 early termination fee.
- Complaints and Service: Pineapple Payments has fewer than ten complaints on public complaint sites.
- Pineapple Payments has an “A+” rating with the Better Business Bureau and has gotten three complaints in the last three years.
- Pineapple Payments employs independent sales agents. However, it has had no complaints concerning its sales techniques.
How Much Does Pineapple Payments Cost?
Pineapple Processing’s rates and fees, as well as its merchant agreement or contract details, are not revealed. According to merchant ratings, the company provides interchange-plus and flat-rate pricing alternatives. Furthermore, Pineapple Payments likely resells Worldpay, TSYS, and First Data contacts, and merchants may be charged fees associated with them as well.
Standard Worldpay, TSYS, and First Data offer multi-year contracts that typically run for three years with one-year automatic renewals. PCI compliance and early termination fees, which can be as high as $25 per month and $495, are also included in those contracts. Furthermore, merchants may be subject to non-cancellable equipment lease terms via First Data Global Leasing.
Rates, Fees, and Contract Conditions
- Interchange-Plus rate for swipe and keyed-in payments.
- 1.00%- 4.99% for virtual terminals
- Monthly payments of up to $25 for PCI compliance
- Up to $495 for early contract termination.
- Locked lease equipment terms of 48 months
Pricing for Virtual Terminals and Payment Gateways
The Pineapple Payments website advertises its virtual terminal and payment gateway services on top of its standard services. However, pricing for either of those services will most likely be determined by the resale contract a merchant signs up for through the company. The fees associated with these e-commerce services include technical support, batch fees, gateway fees, and additional transaction fees.
While Pineapple Payments’ ability to offer interchange-plus pricing provides merchants with inexpensive and transparent rates, this benefit is negated by the company’s potentially high backend processor fees.
Pineapple Payments Complaints and Service
There are currently no complaints for Pineapple Payments complaints that label the firm as a fraud, a ripoff, or a negative tone towards the company at the time of this update.
At the time of writing, there doesn’t seem to be any outstanding FTC complaints or class-action lawsuits against Pineapple Payments.
Customer Service Options for Pineapple Payments
Pineapple Payment resellers are offered support channels, and the company’s general phone number and chat have a merchant support option. However, they do not provide 24/7 service. Support is instead only available during the company’s regular business hours. The corporation does not seem to integrate the customer assistance of the organizations whose services it resells.
Pineapple Payments has a single customer care phone number: (412) 235-7235 – General Support.
Although the organization has no complaints, the absence of comprehensive customer support falls far short of the benchmark set by merchant account providers specializing in this area.
Is the Pineapple Payments BBB Rating Correct?
Pineapple Payments recently got a BBB profile. Pineapple Payments has received three complaints in the last 36 months and now has an “A+” rating with the Better Business Bureau.
Pineapple Payments successfully resolved one of these complaints to the merchant’s satisfaction, while the remaining two were either resolved to the merchant’s disappointment or received no final response.
Strategy for Advertising and Sales
According to the company’s website, Pineapple Payments employs independent resellers. Each of the company’s programs is tailored to the needs of agents, ISOs, and ISVs. As part of each program, independent retailers receive full training and support to ensure their independence. At the time of writing, no public complaints have been filed against them, showing that they don’t engage in fraudulent sales techniques.
- Uses Independent Resellers
- Yes, deceptive rates are advertised.
- No Important Terms Are Disclosed
- No, a company does not hire independent resellers.
No False Advertising
To its credit, Pineapple Payments’ official materials do not appear to employ any fraudulent advertising methods. The company goes to extensive lengths to ensure quality connections with its independent distributors.
However, a pricing plan or a copy of its standard contract is not easily available. If you feel Pineapple Payments charges you hidden costs, you should request an independent statement audit.
Is Pineapple Payments Worth Your Money?
Pineapple Payments can provide complete in-store and online merchant accounts due to the experience of its leadership team in the payment processing business. Its ability to offer interchange-plus rates and be backed by industry veterans makes it a viable alternative for businesses of all sizes.
Pineapple Payments has been steadily growing as a merchant account provider, to the point of being acquired by Fiserv in recent years. While the company isn’t BBB certified, they don’t have any major complaints and offer a wide variety of services. While they use independent resellers, all their agents are fully trained as part of the company’s program. The company doesn’t provide a copy of its standard plan but doesn’t seem to use any false advertising tactics. Pineapple Payments is a verified and legitimate business.