TimePayment Review

TimePayment is an equipment lease financing company that offers leases for credit card terminals and point-of-sale equipment. They partner with Riverside Payments and Velocity Merchant Services to pair leases with new merchant accounts.

TimePayment offers standard payment processing services. The company partners with independent sales agents, has received a BBB A+ rating, and has received more than 150 public complaints regarding their service.

The TimePayment contract is a multi-year non-cancellable contract that finances the leasing of equipment in exchange for a fixed repayment schedule over the course of the contract.

TimePayment offers storefront payment processing, virtual terminal services, and payment gateway services.

If a merchant attempts to cancel a Lease before the full term has expired, he/she will still be liable for the remaining monthly payments until the lease is fulfilled.

We do not advise merchants to sign equipment leases, as the majority of credit card terminals can be purchased for less than $500.

We found more than 150 negative TimePayment reviews at this time, and the company has an outlier among equipment lease providers, as its competitors all have very poor reputations.

TimePayment has been the subject of at least two isolated legal disputes, with one related to employment practices and the other about equipment that was delivered in a damaged state.

TimePayment offers several customer service email addresses, but complaints regarding contract terms and sales practices have lowered its rating in this section.

TimePayment is accredited with the Better Business Bureau and currently has an “A+” rating overall. It has received 151 complaints in the past 36 months, of which 60 were resolved to the satisfaction of the merchant.

TimePayment does not appear to market directly to merchants, but primarily to independent sales agents. This sales structure results in a large number of complaints, and TimePayment is no exception.

TimePayment has been cited as a leasing partner of processors that are the subject of numerous complaints due to aggressive sales tactics and selective disclosure of contract terms.

TimePayment’s marketing approach is deceptive and we advise you to seek an audit from an independent third party.

TimePayment is an average leasing provider and offers similar contract terms. However, it could still save money by switching to a highly rated payment processor.

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