Key Data

• Trading Name: PayDiverse 
• Legal Entity: PayDiverse Ventures LLC
• Activities: High-Risk Merchant Account Provider
• Location: United States
• Regulations: unregulated
• Key People: Mitch Bell

PayDiverse is a company that offers high-risk merchant accounts and credit card processing solutions. They cater specifically to businesses considered high-risk, such as those in the CBD, nutraceuticals, and credit repair industries.

Offering

Their services include virtual terminals, mobile payments, e-commerce integrations, and offshore processing options. They emphasize fast approvals, secure processing, and robust customer support, aiming to help high-risk merchants manage their payment processing needs effectively​.

Their main service includes:

• High Risk Merchant Accounts
• ACH/eCheck Processing
• Offshore Processing
• Payment Gateway
• Pinless Debit

PayDiverse matches high-risk merchants with merchant banks who want long term processing relationships. They are able to provide payment processing for CBD and vape products.

Serving Industries

• CBD Merchant Accounts
• Credit Repair Merchant Accounts
• Nutraceutical Merchant Accounts
• Ecommerce Merchant Account

Customer Review

Google: 5 Stars with 4 Reviews

Trustpilot: 3,2 Stars with 1 Review

Despite this, there are critical concerns regarding PayDiverse. Scam Detector points out potential vulnerabilities and risks, including a history of unsolicited emails and ads associated with the company. The website also has a mixed review pattern, with some reviews possibly being manipulated or fake, which is a common tactic among less reputable businesses to mask negative feedback​.

Regulation

PayDiverse is not explicitly mentioned as being regulated by any specific financial regulator on their website or in available reviews. While the company offers various high-risk merchant account services, including credit card processing, fraud protection, and offshore processing, there is no indication that they are directly overseen by financial regulatory bodies.

People

PayDiverse is led by CEO Mitch Bell. Bell has emphasized the importance of trust in financial services, stating that PayDiverse’s mission is to enable high-risk merchants to transact easily and efficiently.

Legal

As of now, there are no publicly available reports or evidence of any ongoing legal battles or open charges against PayDiverse.

Conclusion and Rating

PayDiverse receives an overall rating of ORANGE. The company is effective in securing merchant accounts for high-risk industries, thanks to its wide network of banking partners. It employs advanced fraud detection and chargeback management tools, and offers continuous, 24/7 customer support​​. However, potential customers should proceed with caution due to mixed online reviews, potential transparency issues, and unclear regulatory status​​. Thoroughly reviewing terms and conditions for any hidden fees is also recommended.