About Redstone Payment Solutions
Overview
Redstone Payment Solutions is a family-owned merchant services provider based in Houston, Texas. According to the company, it has operated in the payment processing industry since 1994, focusing on small and medium-sized businesses across the United States.
Redstone Payment Solutions LLC is a registered Independent Sales Organization of Woodforest National Bank in Houston, Texas, and Redstone Payment Solutions is a registered Independent Sales Organization of Pathward, N.A. in Sioux Falls, South Dakota. As an ISO, Redstone resells merchant accounts and payment processing services backed by these sponsor banks rather than operating its own back-end processing platform.
Products and Services
Redstone offers credit and debit card processing for card-present, mobile, and e-commerce transactions, along with Clover point-of-sale hardware and software through its partnership with Clover Network. The company also markets merchant cash advance funding, payment gateways, PIN pads, wireless and mobile payment solutions, and gift and loyalty card programs.
Compliance and Security
Redstone provides PCI compliance support for its merchants through an Approved Scan Vendor program and operates a dedicated PCI Compliance Support Line. The company describes its security posture as compliant with the Payment Card Industry Data Security Standard and emphasizes fraud prevention guidance for both card-present and card-not-present transactions.
Pricing
Published Rates
Redstone Payment Solutions does not publish processing rates, monthly fees, or contract terms on its website. Instead, the company invites prospective merchants to submit a recent processing statement for a free cost comparison, and pricing is quoted on a case-by-case basis by sales agents.
Pricing Reported by User Reviews and Expert Content
According to user reviews and third-party expert content, Redstone offers tiered pricing rather than interchange-plus by default, with quoted rates that vary based on a merchant's monthly processing volume and how transactions are accepted. Card-present (swiped or dipped) transactions are reported at lower rates than keyed-in or card-not-present transactions, and merchants processing higher monthly volume are reported to receive lower per-transaction pricing than smaller-volume accounts.
Contract Length and Early Termination
User reviews and expert content describe contracts of around three years with automatic renewal clauses, and an early termination fee that some sources describe as a flat liquidated-damages figure (commonly cited around $495) and others describe as a calculation based on remaining contract months multiplied by the merchant's average processing costs. Several user complaints report being charged termination fees in the low thousands of dollars when ending service before the contract end date.
Other Fees
User reviews and expert content reference a monthly minimum processing requirement, with a shortfall fee charged in months a merchant does not meet that minimum. Specific monthly account fees, PCI compliance fees, statement fees, and equipment lease pricing are not disclosed publicly by Redstone and are reported to vary by individual contract.
Contact
Ownership/Leadership: Larry Petru, President and CEO
Address: 10406 Lake Road, Houston, TX 77070
Phone: 1-800-311-1225
Website:redstonepaymentsolutions.com
Recent User Reviews
I have been waiting patiently for a month regarding a 1099 form for my taxes. I called mid February and was told it would be 7 to 10 days before it would be sent. It is March 21 and its been over a month. No one seems to care whther I get what I have requested. I am not a HAPPY CAMPER
This company is ripping off small business’s. I just paid a garage for fixing my car over the phone with my bank card and was told that there is a fee. I’m thinking an ATM type fee. NO! the fee was $104.00!!! Apparently the fee is 3.78% of the bill which they charged me. The garage explained to me that since they are a small business they cannot afford to eat the fee.
Needless to say I have worked things out with the garage and unfortunately they have lost my business.
How is a small business supposed to survive like that!