About Leap Payments
Overview
Leap Payments is a merchant services provider that sells credit and debit card processing, electronic check acceptance, mobile payment processing, virtual terminals, point-of-sale systems, gift and loyalty card programs, and online invoicing to small and mid-sized businesses across the United States. The company was founded in 2005 by Will Detterman and operates as a sales office for Worldpay, the payment processing business owned by FIS Global.
Leap Payments maintains its corporate headquarters in Round Rock, Texas, with an additional sales and support office in Agoura Hills, California. The company markets itself as a relationship-based processor, assigning each merchant a single client relationship manager for the lifetime of the account.
High Risk Specialization
A significant portion of the company's business is dedicated to merchants classified as high risk by traditional processors. Leap Payments accepts applications from industries including CBD and hemp, e-cigarette and vape, firearms and ammunition, debt collection, debt consolidation, credit repair, multi-level marketing, nutraceuticals and supplements, online dating, online gaming, payday lending, subscription billing, travel and tour operators, timeshare litigation, bail bonds, and adult-oriented businesses. The company maintains relationships with multiple sponsor banks to place difficult-to-board merchants.
Equipment and Software
The company sells countertop EMV terminals, wireless and mobile card readers, and iPad-based point-of-sale systems, with hardware available for purchase rather than lease. Software offerings include a virtual terminal, a QuickPay hosted checkout product, recurring billing, developer APIs, and a cash discount program that shifts processing costs to the cardholder.
Pricing
Leap Payments uses an interchange-plus pricing model, in which the wholesale interchange rates set by the card networks are passed through and the processor's markup is disclosed separately. The company does not publish specific buy rates or markups on its website, so the figures below are reported by user reviews and expert content.
Account Fees
The company markets no setup or startup fees regardless of merchant size or processing volume. Reported recurring charges include a monthly account fee, a monthly minimum, and an annual PCI compliance fee. Specific amounts are negotiated at signup and are reported to vary by merchant category, with high-risk accounts paying higher markups than standard retail accounts.
Equipment
Credit card terminals are sold rather than leased, with hardware reported to start at approximately $39.99. Leap Payments markets a lifetime rate lock guarantee on processing fees for qualifying accounts.
Contract Terms
Reviews report a standard three-year merchant agreement with automatic renewal and an early termination fee of approximately $295. The company also offers next-day, same-day, and instant funding as paid add-on services for qualifying merchants.
Contact
Ownership/Leadership: Will Detterman (Founder and CEO)
Address: 2100 Double Creek Drive, Suite 430, Round Rock, TX 78664
Phone: (800) 993-6300
Website:leappayments.com
Recent User Reviews
Leap Payments gave us exactly what we needed; clear pricing, fast setup, and no surprises. As a small business, it’s a relief to have a processor that’s upfront and easy to work with. Their customer service is responsive and actually helpful, which makes a big difference.