don't get tricked into paying them. they are just a broker who sell you something you can get yourself and charge you monthly for it
Read the contract carefully before signing with Monex Group
We signed up with Monex Group for credit card processing. We understood them to be the processor. In practice, they’re a reseller: they place you with a processor and add their own fees on top.
Our contract was 5 years and included a $150 annual fee and a $50 monthly fee that increased every year (not in the contract). They also took a percentage from every transaction for the full term. That was on top of the underlying processor’s fees and other monthly fees charged by them as well!.
We were quoted a processing rate of 0.3% Once all fees were included, we were actually paying over 4%!
In our experience, there was no service here that we couldn’t have gotten by signing directly with a processor such as [Square, Moneris, Stripe, etc.], without the extra layer of fees. If you’re shopping for card processing, ask anyone you talk to whether they’re the processor or a reseller, and get the all-in effective rate and the cancellation terms in writing before you sign.
Regretfully,