by Ben Dwyer Maverick Payments is a full-service payment processor offering electronic payment processing services such as credit/debit card processing, ACH, chargeback management, PCI compliance, and more.
Since 2000, Maverick has assisted tens of thousands of merchants with technology-driven solutions and caters to all businesses, from retail to ecommerce including non-traditional and niche companies. With cutting-edge technology and a proprietary analytics platform, Maverick is able to provide transparent, integrated, and competitive payment processing coupled with 24/7/365 support.
- What services does Maverick offer?
- What are the options for equipment and software?
- Dashboard and Bizlitix
- Are there any security benefits?
- Maverick Rates and Fees
- Maverick Reviews
What services does Maverick offer?
Whether your transactions are tied to your point of sale, taken on-the-go, received by mail or phone order, or done online, Maverick can process them for you. Maverick offers payment card processing, check processing, gift cards and loyalty cards, payment gateway and virtual terminal, and business funding.
The company also works with high-risk businesses, including those that have a difficult time finding a merchant account, such as loan companies.
Payment Card Processing
With Maverick, you can accept major credit cards, including Visa, MasterCard, Discover, American Express, JCB, and Diners’ Club. You can also process debit cards, and EBT. Cards can be processed in a variety of ways, including in person with point-of-sale equipment, unmanned with a kiosk, online through a website with a payment gateway, or via mail or phone using the virtual terminal option. Maverick also has options for setting up recurring and scheduled billing.
If you accept credit cards for B2B transactions, Maverick can set you up with a gateway to help pass level 2 and level 3 data to ensure the best possible pricing.
Check Processing
Checks are still a widely used method of payment, though means of accepting them have evolved. Maverick offers the ability to process electronic checks (checks that have been passed through a check reader or scanner) and ACH payments. With Maverick’s account authentication, the company offers real-time validation and authorization to reduce the risk of bad checks.
Gift Cards and Loyalty Cards
Both gift cards and loyalty cards are offered through Maverick. While they differ in use, both options can serve to promote your brand, track spending patterns, and even measure the success of the programs themselves.
Gift Cards
Gift cards, a more modern and easily tracked form of paper gift certificates, can help expand the influence of your business and encourage spending for a variety of occasions and holidays. Gift cards work with a variety of point-of-sale terminals, debiting payment directly from the balance available on the card.
Loyalty Cards
With a loyalty card, your customer earns points or rewards based on each transaction with you. This can encourage repeated business and customer satisfaction.
Payment Gateway and Virtual Terminal
If you accept payments online, by phone, or by mail order, Maverick offers payment gateways for business websites, and virtual terminals for entering phone and mail payments. API integrations are available to connect your website and checkout page to Maverick for real-time transaction processing. The virtual terminal only requires a computer with an internet connection and browser to manually enter and complete transactions, making it ideal for phone and mail orders.
Business Funding
If you are looking for working capital to support your business, Maverick offers a variety of business loans, cash advances, and hybrids of the two. Generally cash advances can be expensive endeavors, so definitely explore your options when making your decision.
What are the options for equipment and software?
Maverick offers the ability to buy point-of-sale equipment at wholesale prices. Equipment can be purchased directly and includes credit card terminals and readers, PIN pads, point of sale systems and more. Maverick claims it can support most point of sale systems with its back-end platform, but you should check to make sure yours is supported.
Maverick is partnered with many software companies and provides robust tools for reporting and analytics.
Dashboard and Bizlitix
One of the features Maverick touts is its comprehensive reporting dashboard and Bizlitix system. We had a chance to see a demo of the features in action. While many of the features are available through other platforms (such as Google Analytics) it’s convenient that Maverick offers the tools all in one convenient dashboard alongside your payment information. Rather than having to log in to systems individually, you can use an all-in-one tool for analytics, heat maps, keyword research, competitor insight, chargeback management, and more.
Best of all, there’s no additional fee for Bizlitix – you’ll have access to the platform with your merchant account with Maverick.
Chargeback Management
Business owners frustrated by chargebacks will appreciate the chargeback management function of the dashboard. Instead of having to wait for a notification in the mail and risking missing the dispute deadline, you’ll get an email as soon as a customer files a chargeback.
The system will suggest supporting documents that you should provide to fight the chargeback based on the reason the chargeback was filed. You can upload documents right through the chargeback dashboard.
The screenshot above shows an example of the type of information the system will suggest that you provide if you choose to fight a chargeback. You’ll also be able to see the status of chargebacks for easier tracking of the result. The dashboard shows your chargeback ratio as well, allowing you to quickly see how close you are to the standard 1% threshold before your account is in jeopardy.
Another convenient feature of the chargeback management system is that it alerts you if a customer who filed a chargeback previously places another order.
As you can see from the screenshot, the system can warn you of the “risk level” of approving the order from the customer.
Reporting
The system also includes all the reports you’ll need to make informed decisions. You can view individual sales, batches, transaction histories, and more. Maverick is also working on an interchange optimization report to help you ensure you’re receiving the best possible interchange rates.
Analytics
The Bizlitix platform to provide analytics is a handy tool for small business owners, especially if you don’t use Google Analytics, or prefer to have the data in the same place as your transaction summaries.
You’ll be able to see demographic data for your users, such as gender, age, and location, as well as traffic sources. The platform also combines information from other sources, such as Mastercard, to provide comparative business trends.
As you can see from the screenshot above, you’ll have access to graphs and charts showing how your business compares to other businesses within the same industry. You’ll be able to see how you’re doing on metrics such as average visits, average spend per customer, and more.
You can also get page speed insights, conduct keyword research, and view a heatmap to see how your users are interacting with your website.
A reputation management section allows you to connect external sources such as Facebook, Twitter, and Yelp to easily manage your brand across multiple platforms.
Are there any security benefits?
Maverick is PCI compliant, and all Maverick gateways meet PCI DSS regulations for the safety of businesses and customers. Additionally, you can benefit from Maverick’s fraud prevention tools, including Address Verification Services, Card Code Verification, Verified by Visa, and MasterCard SecureCode.
Maverick Rates and Fees
Maverick doesn’t publish pricing because it will vary by business. Pricing for high-risk businesses in particular is contingent on a number of factors. Some fees that may apply include the transaction fee, PIN debit fee, AVS fee, statement fee, and internet gateway fee.
If you want to know how much Maverick’s services would cost your business, request a quote through CardFellow. Our free service will allow you to see fully disclosed pricing from Maverick and compare it with other processors. Sign up here!
Maverick Reviews
Maverick does not currently have a rating or profile with the Better Business Bureau, and it is unknown if they have sought accreditation.
Searching elsewhere, we find there are only 4 complaints listed on Ripoff Report for Maverick. Reviews complain of difficulty getting funds released, having accounts frozen, rude customer service, and deceptive practices. However, countering those complaints, are 2 positive reviews on Yelp. The reviews recommend Maverick for its helpful customer service that goes beyond just getting a client signed up. They also mention saving money on processing fees, free terminals, and next day funding.
The reviews on Google lean more positive than negative, with 3 out of 4 claiming good experiences. 2 of them were specifically praising the company for helping them save money even though they are considered high risk businesses. The negative experience review claimed to have lost thousands of dollars by working with the company; Maverick refuted the remark by saying that he was not a legitimate client and had never been listed in the company’s system.
The pendulum of opinion is definitely swinging both ways on Maverick, and, if the claim of serving over 80,000 businesses is true, our sample size is small.
