GoPayment Overall Rating
Review Updated: 12/1/2011
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GoPayment Overview
GoPayment Logo
Just like the review for Square, this GoPayment (GoPayment.com) review will focus on the concerns of business owners and not so much on the technology of the product.
GoPayment is a mobile credit card processing product for iPhone, iPad and Android devices created by Intuit Merchant Services. We will be scoring GoPayment independently of Intuit because GoPayment operates under completely different contract terms and pricing.
GoPayment Sales Strategy & Tactics | A+
The marketing strategy, web design and execution of GoPayment is strikingly similar to that of Square. And just like Square, GoPayment offers a free smartphone app and card reader, albeit the reader appears to be the more robust ROAMpay reader. GoPayment uses no deceptive advertising or marketing tactics that are apparent to this reviewer. The company primarily markets its service through online advertising and strategic partnerships.
GoPayment Costs, Fee & Contract Terms | A
Aside from the similarities in execution and marketing, there is a significant difference in the way Intuit sets the processing rates for GoPayment versus how Square sets its pricing.
GoPayment credit card processing is quoted at a flat fee of 2.7% per swiped transaction versus Square’s 2.75%. Just like Square, GoPayment’s fee is higher when transactions are typed into the phone rather than swiped through the reader, coming in at 3.7% versus 3.15% +$0.25 with Square. At first glance it appears that the companies are using the same pricing model and that GoPayment offers a very slight savings for swiped transactions. Upon digging deeper, this reviewer found that there is more to GoPayment’s pricing.
Unlike Square, which uses the same processing rate for all card types, GoPayment actually has two tiers for swiped transactions. The fine print indicates that the 2.7% fee is actually reserved for Visa and MasterCard “Qualified” cards, which are typically personal credit/debit cards that do not have a rewards or miles program attached to them. However, GoPayment does not list exactly which card types it considers as “Qualified.” The second tier has a rate of 3.7% for swiped transactions and applies to “Non-Qualified” cards. GoPayment defines “Non-Qualifed” as “corporate cards, foreign cards, and transactions that do not meet Visa/MC/Discover Network requirements for the best interchange program.” There is no mention if rewards/miles cards fall into the “Non-Qualified” category, which seems to indicate that they fall into the “Qualified” tier. These tier distinctions are important because a high percentage of credit cards have have rewards programs attached to them.
GoPayment offers another tier of pricing for merchants with moderate-to-high transaction volume. For a monthly fee of $12.95, merchants can get a lower “Qualified” swipe rate of 1.7% with the “Non-Qualified” rate staying the same. Merchants that wish to take American Express or JCB cards through GoPayment will need to set up separate AMEX and JCB merchant accounts, which is typical in the credit card processing industry. These accounts can easily be set up during the GoPayment signup process, or by visiting the companies respective websites at a later date.
One major benefit of GoPayment over Square is that GoPayment does not have a card-not-present transaction limit like Square does. GoPayment is also much more transparent about processing limits and notifies merchants what their limits are in their online dashboards. Merchants who will have high processing volumes or high ticket sales ($5,000+/mo or $500+/sale ) will want to contact GoPayment to get higher processing limits.
It is important to note that if you are already an Intuit Merchant Services customer, that the free card reader offer only applies to new customers. Therefore, it looks like existing customers will still be bound to their original merchant account agreement and be required to purchase the card reader if they wish to use GoPayment.
GoPayment Complaints, Service & Dispute Resolution | A
GoPayment has mostly positive reviews. This reviewer was only able to find two complaints filed specifically for GoPayment, each of which appeared to be based more in merchant confusion rather than poor experience. That being said, since GoPayment is simply a product of Intuit Merchant Services, it is possible that complaints may get filed under Inuit Merchant Services instead of GoPayment.
Probably the biggest advantage that GoPayment offers over Square is a dedicated telephone customer support line. Square relies primarily on email support and buries its contact number, which often goes to a voice mail system when called.
GoPayment Better Business Bureau Report | N/A
GoPayment is under the Intuit’s BBB profile, which is actually Innovative Merchant Solutions’ profile. Intuit bought Innovative Merchant Services and still utilizes Innovative’s brand. The BBB report will not be factored into GoPayment’s overall rating since the report is not specific to the GoPayment service.
Bottom Line
Overall, GoPayment appears to be a great product and most merchants seem happy with the service. Additionally, GoPayment’s paid account tier offers better swipe rates than Square, which makes it more attractice for businesses that have higher processing volumes or accept credit cards on a regular basis. It should also be noted that GoPayment is compatible with many more phones than Square, including several models of the Blackberry. A complete list of compatible devices can be found on the GoPayment website.
Leave your GoPayment review in the comment section below.
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5 comments
Jeff Doorman says:
February 18, 2012 at 3:13 pm (UTC -8 )
I have yet to be able to get gopayment to work on ether of my phones. It seemed to work on the iphone but the money never got to my account ($10 test run).
Then I switched to an android phone (Samsung galaxy S2) and I have had no luck. I waited on hold for 15 minutes to speak with a representative, then after deleting all cashes and cookies, restarting the phone, it still would not work correctly and they will send me another swiper.
I am not very hopeful at this point and have to agree with previous poster, they should have got together with another firm with more experience or subbed the whole thing out to another company who could address form and function to make this a “game changer” instead of another headache and time sucker.
Heidi Alexander says:
February 14, 2012 at 9:13 pm (UTC -8 )
I just signed up with GoPayment and although the service seems to work easily, I was disappointed to find out that they automatically “batch out” all card transactions at 3pm Pacific Time. Any transactions after 3pm Pacific time are held until the next day and batched out with the following day’s sales up until 3pm.
I asked if they can change the batch out time to midnight, but they said no, all GoPayments are batched at 3pm across the board.
This is a bookkeeping nightmare for someone who runs transactions sometimes in 2-3 states at a time (in different time zones). Keeping track of each days transactions up until 3pm, and also including the previous day’s transactions AFTER 3pm is ridiculous.
I don’t know who decided that 3pm is an appropriate time to end the day’s sales, but I am looking to change to another provider now.
Ed K says:
February 8, 2012 at 7:54 am (UTC -8 )
Go payment
Watch out for the extra fees at the end of the month. You will first receive the payment statement to them with a 2.7% then at the end of the month you will receive an adjusted rate at 3.7%. Even though it is a VISA card and can swipe it you cannot tell if it is a corporate or a qualified rate card. Be award because customer service will not care.
I cancelled the account after 2 months of over charges
Marshall Flax says:
January 2, 2012 at 7:53 am (UTC -8 )
I read the many reviews of the Square that cited poor customer service and that was a primary reason that I went with Go Payment. i signed up online yesterday and within a couple of hours realized the the name that would appear on the customer’s cc statement would be mine and not the business name — not what I wanted. I went to the Merchant Service Center site, downloaded the name change form, and faxed it back with the requested documentation and an explanation. This was all done the evening of New Years Day. At 10:30 AM CST on 1/2/12, I get a call from Peggy at customer service telling me that they are ready to make the change I requested — she just had a question about how I wanted the name to appear. Amazing!
While I haven’t used Go Payment yet, I’m very impressed with their customer service.
Brandon Smith says:
September 20, 2011 at 11:23 am (UTC -8 )
I too am a GoPayment user since March of this 2011. Although the transaction process, the iPhone app and even the extra piece of equipment for my phone work seamlessly, their internal workings need a serious dose of business reality.
Intuit makes it a point to advertise within their terms that payments take 2 to 3 business days from transaction to funds hitting my account. The first two payments were processed in six business days. Both of these payments were flagged internally because of their size (we’re an architectural firm and transactions are in the thousands) though Intuit only attempted to notify us of these flags after the 3 business day period.
Of recent note, our firm made a change to our business name to include our LLC status, updating financial accounts, checks, etc. in the process. We initiated the process on September 2nd with Intuit to change over their account information. After several exchanges (it now being the 20th of September) we’re still unable to utilize our GoPayment account because of slow-downs in their internal processes, all the while Customer service ensures me that it should be in working order.
All in all, Intuit should probably leave merchant services to those companies that have been doing it longer and understand that businesses in the 21st century are un-accepting of 18 day delays in usage. Personally, I’ll most likely be looking for alternatives should delays continue.