About Paramount Payment Systems
Overview
Paramount Payment Systems is a merchant services provider founded in 2003 and based in Meridian, Idaho. The company sells credit and debit card processing, point-of-sale systems, e-commerce gateways, mobile payment acceptance, and related merchant services to restaurants, retailers, and multi-location and franchise businesses, and has historically marketed to higher-risk verticals such as CBD and cannabis.
Business Model and Partnerships
According to independent industry reviews, Paramount Payment Systems operates as an ISO of Fifth Third Bank, N.A. of Cincinnati, Ohio, and resells merchant account contracts originally underwritten through NPC and Vantiv, now part of Worldpay. The company also bundles point-of-sale hardware and software through partnerships with third-party vendors, and brokers small business financing through external lenders rather than lending directly.
Product Lineup
The company markets a cloud-based point-of-sale platform with separate configurations for restaurants and retailers, including modules for kitchen display systems, inventory management, online ordering, dual pricing programs, loyalty, customer management, and multi-location reporting. On the processing side it supports card-present, card-not-present, e-commerce, business-to-business, mobile, and food-service workflows, with integrations to common e-commerce gateways and EMV-compatible terminals.
Pricing
Processing Rates
Paramount Payment Systems does not publish flat processing rates on its website. The merchant processing pricing page describes quotes as customized to each business and references dual pricing programs, volume-based discounts, and industry-specific rates rather than listing per-transaction percentages. According to expert content, swiped and keyed-in card rates from Paramount have been reported in a range of approximately one percent to nearly five percent, with the upper end reflecting the company’s focus on higher-risk verticals such as CBD and cannabis.
POS Software Plans
Paramount publishes monthly subscription pricing for its point-of-sale software starting at seventy-five dollars per month for a single location and one hundred twenty dollars per month for multi-location deployments. Single-location plans include core POS functionality, kiosk and customer display features, inventory management, staff scheduling, and online ordering, while multi-location plans add centralized reporting, multi-unit management, multi-store pricing and promotions, shared gift cards, and a custom branded app.
Contract Terms and Other Fees
Independent reviews report that the standard merchant processing agreement runs three years with a two-year auto-renewal, and that early termination fees are calculated as liquidated damages based on the highest three months of revenue in the prior year multiplied by the months remaining on the contract, commonly producing termination costs of five hundred dollars or more. Reviewers also describe a separate forty-eight-month non-cancellable equipment lease administered through Lease Finance Group, along with a variable PCI compliance fee. Monthly account fees, gateway fees, batch fees, statement fees, and monthly minimums are not publicly disclosed by the company.
Contact
Ownership/Leadership: John Staley (CEO)
Address: 841 E. Fairview Ave #101, Meridian, ID 83642
Phone: (866) 663-0810
Website:paramountpayment.com
Recent User Reviews
I subscribed to CBS All Access which later became Paramount + for $5.99 monthly. Included was live stream of local channel. When I changed the payment information last Friday. Ad said save 16% by paying yearly. I chose this option. On the following Monday I discovered that I couldn’t get my local CBS channel. When I called customer service, I found that the paying yearly plan was really a scam to change my plan. So, now the plan I had for $5.99 is no longer available and By paying yearly I am on the $4.99 plan which does not include live stream of loc channel. No problem, I ca pay $9.99 a month for the plan I had which included local channel. Tal about bait & switch. This is definitely fraud. I contacted Paramount on second business day after falling for payment option ploy, but still no option to correct. Clearly, ethics is not in Paramount + vocabulary.