Many of these complaints have been filed by processing clients rather than renters, although both groups are well-represented. Business owners are advised to carefully examine all contract terms presented to them and to compare YapStone’s pricing to the cheapest merchant accounts. YapStone is one of the leading payment providers for large, complicated and under-served markets, including marketplace companies, vacation rental, storage, and property rental industries. We will process over $18 billion in payment volume this year and, unlike our competitors, we facilitate the entire payment transaction from beginning to end. Through robust services, YapStone handles risk, compliance, and fraud, so that marketplaces are free to focus on their core business.
- VacationRentPayment is a service of YapStone that delivers payment solutions for vacation rental managers, owners and their guests.
- Founded in 2009 with the simple goal of converting bills commonly paid by paper check into online electronic payments, Yapstone’s latest rebrand takes this vision to the next level.
- Yapstone, a leading provider of payment solutions, announced today that it has undergone a major rebrand.
- By providing this feature, the company ensures that every service provider gets their due payment within the stipulated timeframe, and this is the reason behind the wide popularity of this particular company.
- The company also appears to collect its processing fees from homeowners, renters, and travelers—in other words, the people making the payments—rather than business owners.
Through technologies such as Velo’s open banking platform, this merger promises to deliver seamless global payment experiences for businesses and individuals by reducing the cost and complexity of payments, especially across borders. The company is basically an online platform that eases the process of payment receiving and making by the end of both service providers and consumers. The main service of the company is to make it easier for consumers and landlords to receive and make payments. The company works with many rental service providers to ensure hassle-free payment for the services in question. YapStone offers customizable payment solutions tailored to the specific needs of each vacation rental business. This includes options for recurring billing, installment payments, and integration with most vacation rental platforms.
We have been in operation since 2009, diligently conducting comprehensive research, publishing extensive reviews, and monitoring more than 1,000 payment processors. Our expertise in the merchant services industry has garnered recognition from esteemed publications such as the Los Angeles Times, INC Magazine, The Atlantic, and the Miami Herald, among others. Additionally, we located more than one YapStone complaint by current and former YapStone employees who describe a taxing work schedule and low workplace morale. The majority of Yapstone’s complaints have come from renters on VRBO and HomeAway who have had very negative experiences with YapStone’s risk team and customer support.
It not only allows the consumers to make payments in credit and debit but also allows them to make payments in installments and late fees. Any unauthorized copying and reproduction of the content of this page, including all meta data and computer code, is strictly prohibited. Any and all use of trade names and/or marks are for identification purposes only and shall not be construed as a claim of affiliation, or otherwise, with CardPaymentOptions.com, Inc. (“CPO”) in any form. The sole purpose of the material presented herein is to alert, educate, and inform readers. In January of 2017, YapStone settled a class-action lawsuit stemming from a data breach affecting the company. Personally identifiable information of its customers, including social security numbers, names, addresses, dates of birth, and passport numbers were exposed.
Yap Stone Price Live Data
He has also published critical reviews about most merchant services providers currently in operation. YapStone appears to market its products through a combination of strategic partnerships, telemarketing, and inside sales agents. YapStone also offers a customer support form on its website and some customer service email addresses, but it no longer lists a phone number. The company’s sustained increase in complaints has lowered its score to a “D” and denied it a spot among the top-rated payment processors for great customer service.
- Roughly the company operates in almost 45 prominent countries and allows the users residing in those particular companies to avail of its unique services.
- We encourage business owners to check out our list of the providers of the best merchant services.
- YapStone’s actual pricing does not appear to be a major point of contention for most businesses, but the company does have a number of policies in place that are generating a lot of complaints.
- They also offer customer support by phone or email in English, Spanish, German, French, Italian, Portuguese, and Dutch.
The company has a robust fraud prevention system that includes compliance checks and post-auth monitoring to protect sensitive payment data. The heart of Yapstone’s rebranding strategy centers around a new website, logo, and brand identity. The new website design was inspired by the transformation happening across the payments landscape, with the new typeface and dynamic color palette better reflecting the company’s innovative approach to local payments. By providing this feature, the company ensures that every service provider gets their due payment within the stipulated timeframe, and this is the reason behind the wide popularity of this particular company.
Our YapStone Review Summary
Excellent customer service is crucial to provide clients with to address issues that inevitably arise, making it an important consideration before executing a contract. They use cutting-edge technology and a rigorous underwriting process to ensure quick and secure transaction processing. SAN FRANCISCO, May 9, 2022 /PRNewswire/ — Payment’s processor, Yapstone, unveils rebrand and redefined approach to localized payments ahead of global expansion. Roughly the company operates in almost 45 prominent countries and allows the users residing in those particular companies to avail of its unique services. The company basically works as a connector between the people who have rental properties and the people who are looking for rental properties. The company emphasizes a 99.9% platform uptime and has a team dedicated to handling chargebacks, claiming an 80% win rate in disputed chargebacks.
VRBO is an online marketplace where property owners can showcase their rental properties, set rental rates, manage reservations and payments, and communicate with guests. We have over 17 years of deep industry-specific payment processing expertise and a leadership team with sophisticated payments experience that helps deliver our services to more than 400,000 vacation rental properties across the country. SAN FRANCISCO, Aug. 16, 2023 /PRNewswire/ — Velo Payments, Inc. is acquiring YapStone Inc., a leading payment processing platform in the short-term and vacation rental industry, known for its premier payment solution, VacationRentPayment. We have located one sample YapStone contract (from the company’s homeowner’s association-oriented subsidiary, DuesPayment).
In this manner, the company connects the consumers and the service providers by becoming a bridge between them. Vacation rental property managers and their guests can rest easy knowing that our payment platform is SSAE16/SOC1 certified and Level One PCI compliant. Some YapStone clients have alleged that the company does not retain any advanced information about transactions after they have gone through, which makes it difficult for the business to contest a chargeback weeks after the fact. Without access to YapStone’s internal risk assessment tools, it’s hard to know what the company could be doing to help businesses on this front. However, it’s worth reporting that complainants consistently cite this as a major issue.
YapStone Customer Reviews
This is an uncommon pricing model for the industry, and it’s possible that a separate agreement outlines other fees charged to clients. We encourage business owners to check out our list of the providers of the best merchant services. Phillip has researched and reviewed over 1,000 merchant services providers over the last 15 years. If you are looking for an ethical credit card processor that doesn’t hide fees or lock you into expensive contracts, see Phillip’s merchant account picks here. YapStone rates as a worse-than-average credit card processing provider according to our system. We do not currently have a great deal of specific information about the company’s contract terms, but YapStone and its Vacation Rent Payment platform are receiving a growing number of public complaints online.
Business Technology Overview
In such a case, the company provides easy payment options and gateways to the consumers as well as the service providers. The VacationRentPayment team offers live phone support and an online customer service platform – ensuring that we are here to answer your questions and solve your problems, 7 days a week. VacationRentPayment offers one simple, low flat-rate for all credit and debit card transactions allowing you to avoid hidden fees and multiple tier pricing. In other words, this company basically works like a bridge between the consumers and the service providers and connects the people who are looking for accommodation with people who have a home. In general, most users seem to encounter YapStone for the first time as the backend processor for their VRBO or HomeAway accounts. This means that YapStone doesn’t directly market to these users, so there’s little to evaluate in terms of its sales approach.
Location & Ownership
These complainants express confusion over the company’s policies, as well as irritation with having to pay fees in order to use their credit card. If you have a YapStone review to make, please do so in the comment section below. With YapStone’s international payment solutions, https://cryptolisting.org/blog/what-is-an-estimated-liability businesses can expand their reach by accepting payments from customers around the globe. The company offers currency conversion services and supports a wide array of currencies, helping businesses tap into new markets and cater to a diverse customer base.
People & Culture
This contract is a one-year term that automatically renews for a one-year term and may be canceled at any time with 30 days’ notice. The YapStone fee schedule reflects different fees for each supported payment channel. ACH/eCheck payments are assessed the same online and phone fees but only $2.00 for automated payments. Our full-stack payments platform enables and amplifies connections between companies and markets across the globe.