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North American Bancard (NAB) is one of the largest merchant account providers in the market today. It has over 250,000 customers, it processes more than $34 billion/year and it has over 900 employees. The company is involved in four main types of segments: ecommerce, credit card processing, mobile payments and cash advances.
They provide credit/debit card transaction services for brands like KFC, 7 Eleven, Burger King, Dunkin’ Donuts and others.
The company was founded in 1992 and it is headquartered in Michigan, US. NAB is sponsored by Wells Fargo Bank and The Bancorp Bank.
NAB has two websites, which can be pretty confusing when trying to get information about their business, so don’t be surprised if you find yourself totally puzzled after visiting their official pages. The sites offer almost no information on pricing, available packages and other relevant aspects.
They accept Visa, Mastercard, American Express, Paypal, Discover, Fleet Cards (Voyager, Wright Express included) and some gift cards, depending on the payment processing device.
The company claims to offer free POS equipment on sign up: card swipers, card readers, etc, although there are customers who complained they were charged an additional fee for the devices. Make sure you thoroughly enquire on taxes and fees before you sign up and read the terms of service carefully.
The equipment comes already programmed and customized for your specific needs and you just have to plug it in and connect it to the Internet. It is enabled for various payment methods: EMV, NFC, swiping.
One of the most popular services offered by NAB is the mobile card reader and app called Phone Swipe, which is iPhone/iPad and Android compatible. The app has a Geo Tax feature that calculates the sales tax according to your location. You can also make a photo inventory with pictures from your photo library.
Other useful features of the app are:
Other products and services offered by NAB are:
NAB’s fees and contract terms seem to be their most blamed aspects. They have received a lot of bad reviews and complaints over the years due to their lack of transparency when it comes to pricing. The most common issues reported are the hidden fees, deceptive sales strategies, spontaneous rises in fees shorty after signing up and non-disclosure of the service length agreement.
One of their two website does display some of their fees and rates. According to the info published on the site, NAB charges a 0.29% rate. There are however no startup costs or cancellation fees, although the latter is also a controversial subject. There is also an annual PCI Compliance Fee of at least $79 and an early termination fee of at least $295.
The setup process is simple and fast. Your application is approved in a matter of minutes, so this is a plus for NAB.
According to the info published on the site, NAB charges a 0.29% rate. There are however no startup costs or cancellation fees, although the latter is also a controversial subject. There is also an annual PCI Compliance Fee of at least $79 and an early termination fee of at least $295.
For more information on pricing and features go to http://www.phoneswipe.com/
Phone: 1.800.226.2273
Social media: Facebook, LinkedIn
Facebook: https://www.facebook.com/nabholdings
NAB offers 24/7 customer support via phone or email. They claim that reps answer to 98% of calls within only 4 rings, but there are a lot of complaints that contradict this statement. The NAB agents are blamed for poor communication, giving incomplete information concerning the fees/taxes or deceptive marketing.
Our editorial staff evaluates products and services independently, but Best Review Guide may earn money when you click on links. Read our advertising disclosure.
By: Cristina | Last updated April 12, 2017 
