Reviews

MagicPay Review

August 15, 2022

MagicPay Merchant Services, or MagicPay, has been offering payment processing and merchant services since 2012. It carries a variety of solutions and equipment for online, mobile, and in-person payment processing. The company caters to merchants from the US, Canada, Puerto Rico, and US Virgin Islands. Nearly all business types can apply with MagicPay, including high-risk industries.

Below is an overview of merchant services offered by MagicPay:

  • Merchant accounts
  • Payment gateway and virtual terminal
  • POS systems and retail terminals
  • Payment processing for credit cards, debit cards, ACH payments, e-checks, and other alternative methods

  • Offshore processing of over 120 currencies
  • E-commerce integrations
  • Fraud prevention
  • Cash discount program

image of magicpay logo

MagicPay Merchant Services

Merchant Accounts

MagicPay offers merchant accounts for online, retail, and high-risk businesses. After submitting your application, a representative will contact you to discuss your requirements and begin the process. Once approved, you will receive your payment processing equipment within the next two days.

Payment Gateway, POS Terminals, and Equipment

An approved merchant account with MagicPay includes payment processing equipment suitable to your business.

For e-commerce and MOTO merchants, the company will set up a payment gateway and virtual terminal on your system. Features include recurring billing, electronic invoicing, and fraud prevention. If you already have an existing payment system, MagicPay can integrate with Authorize.net, NMI, and Sage Pay.

Retailers with in-store payments will get a free EMV terminal. You can also avail of more specific equipment like POS systems and wireless terminals.

For mobile merchants with on-the-go payments, MagicPay provides a Bluetooth card reader that you can connect to your smartphone or tablet.

image of magicpay pos terminals

 

Payment Processing

MagicPay’s merchant account and equipment enable merchants to accept various payment methods. They can process credit card and debit card payments from Visa, MasterCard, Discover, American Express, and JCB. They can also accept ACH payments and e-checks.

Apart from cards and checks, alternative payment methods are accepted as well. These include Apple Pay, Google Pay, and gift cards.

MagicPay offers multi-currency processing. It allows merchants to accept payments in over 120 currencies. Payment settlement will be in USD.

E-commerce Integrations

E-commerce merchants will have access to Quickbooks Syncpay and other shopping cart integrations. The payment processing system is compatible with various shopping carts like Prestashop, WordPress, WooCommerce, Big Commerce, 3DCart, and many more. Integration options also include APIs and mobile SDKs.

Chargeback and Fraud Prevention

MagicPay provides various security tools like Payer Authentication and a customer vault. These assure merchants of secure payment processing and data protection. They also minimize the risk of fraud and chargeback.

image of magicpay fraud prevention

MagicPay Fees, Rates, and Pricing

Processing Fees

MagicPay is transparent with its pricing and provides an overview of processing fees on its website.

Retail Credit Card Processing
  • Retail credit card terminal: 0.50 percent plus $0.05 per transaction
  • Wireless credit card terminal: $0.50 percent plus $.10 per transaction
  • PC & iPad POS: 0.50 percent plus $0.05 per transaction
Online Credit Card Processing via Virtual Terminal
  • VirtualPay package: 2.20 percent plus $0.30 per transaction
  • VirtualPay Pro package: 0.75 percent plus interchange plus $0.20 per transaction

image of magicpay online credit card procesiing

Cash Discount Program

Additional Fees

MagicPay offers the free setup of its payment systems and equipment, although merchants need to pay a monthly fee. Some payment solutions are free as well, while some are optional for an additional fee.

Retail Credit Card Processing
  • Retail credit card terminal: $20 monthly fee plus an optional fee of $15 for the gift card system
  • Wireless credit card terminal: $30 monthly fee plus an optional fee of $15 for the gift card system
  • PC & iPad POS: $10 monthly fee, inclusive of a free gift card system
  • All equipment has no upfront cost and comes with a free virtual terminal and POS integration
Online Credit Card Processing via Virtual Terminal
  • VirtualPay: $15 monthly fee plus an optional fee of $10 each for electronic invoicing and QuickBooks integration
  • VirtualPay Pro: $30 monthly fee, inclusive of free electronic invoicing and QuickBooks integration
  • Both packages come with a free merchant account, virtual terminal, email receipts, and recurring billing
Offshore Payment Processing

For offshore merchant accounts, monthly fees vary between $20 to $50. This will depend on your country and industry. The company also requires a 6-month rolling reserve of 10 percent from processing.

Cash Discount Program

MagicPay’s cash discount program costs $20 per month, and your customers pay a 4 percent service fee. There is also a $20 fee for chargebacks or retrieval and a $0.05 AVS fee. Batches, deployment, shipping, cancellation, PCI compliance, training, setup, and activation are all free.

Hidden Charges

Magic Pay prides itself on offering transparent pricing. There are no hidden fees in the company. It is also one of the few high-risk credit card processing companies that don’t require a long-term commitment.

image of no hidden charges

MagicPay Complaints

There is one complaint online about MagicPay. More information on this complaint can be found below.

Rip Off Reports

MagicPay has numerous customer reviews online, none of which complained about the company being a scam or a ripoff.

Other Complaints

The lone complaint about the company was regarding its customer service. Although she was approved of a merchant account and was generally happy about it, she did not appreciate how the company failed to reach out to her afterward. She had to contact the company to follow up on the next steps.

Apart from this complaint, all reviews for MagicPay are positive.

 

MagicPay BBB Rating

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MagicPay has been an accredited company by the BBB since 2019. It currently has an A+ rating from the organization.

BBB Reviews

MagicPag has 10 customer reviews on its BBB page. They all gave the company 5-star ratings and praised the company for its fast approval process, reliable customer service, and efficient processing services. They all laud the team’s responsiveness, communication, and professionalism.

 

Is MagicPay Legitimate?

MagicPay is a legitimate company based in Florida. It was established in 2012 by Rami Levi who currently sits as CEO. According to its website, the company serves thousands of merchants around the world.

Apart from its A+ BBB rating, it is also a Top Rated Provider by CardPaymentOptions.com. It has numerous customer reviews across platforms, most of which are positive. It is also featured in several independent review sites and PR articles, which further prove its legitimacy.

Scams

MagicPay does not seem to have any official reports or legal complaints related to scams or fraud.

Lawsuits

Likewise, there don’t seem to be any lawsuits against MagicPay.

image of is magicpay legitimate

MagicPay Customer Reviews

As mentioned, MagicPay has a generally positive reputation based on customer reviews. It has a 5-star rating from 47 Google reviews and a 4.8-star rating based on 26 Facebook reviews. It also has several 5-star reviews in G2 and Intuit Quickbooks.

Overall, merchants are beyond satisfied with MagicPay and highly recommend the company. They highlight the company’s CEO Rami, his knowledgeable team, and the entire application and onboarding process. They also praise the products and services, which allow them to efficiently process payments. Merchants were from different industries, including high-risk and small businesses, and they were able to benefit from good rates and tailor-fit services.

 

Conclusion

MagicPay is a commendable company for various reasons. For one, its range of services caters to all types of business, whether high-risk or startup, online or retail. It offers various payment processing solutions, including multi-currency and e-check capabilities. The company is also transparent with its pricing, which is rare in merchant services.

Furthermore, it has highly positive customer ratings and only one customer complaint thus far. Interested merchants may want to consider MagicPay as it seems to provide an overall straightforward experience.

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