|Sales & Marketing|
|Costs & Contract|
|Complaints & Service|
GoEmerchant (goemerchant.com) is a small merchant account provider based in Cherry Hill, New Jersey, with a founding year of 1995. The company got its start by developing e-commerce solutions and then expanded into various other electronic payment solutions. Despite its long time in business, GoEmerchant reports that it manages only about 20,000 merchant accounts. The company’s small size should not be considered as a strike against it because it seems to have served it well in keeping its merchant customers satisfied over the years.
There is some evidence indicating that GoEmerchant is a subsidiary of First American Payment Systems, a company with a very high number of complaints filed against it. Although GoEmerchant does not appear to be showing anywhere close to the number of negative reviews received by its parent company, merchants should be aware of this relationship. Gary Dvorkin is listed as the CEO of GoEmerchant, which is a registered ISO/MSP of Fifth Third Bank, Cincinnati, Ohio.
|GoEmerchant Products and Services||Industries Served|
|Key Points – Sales & Marketing|
|Uses independent resellers?||Yes|
|Promotes deceptive rate quotes?||Yes|
|Discloses all important terms?||No|
GoEmerchant advertises misleading rates on several of its online application pages, quoting an “Internet Rate” and “Retail Rate” “as low as 0.89%” per transaction. These quotes are misleading because they do not include the Mid-Qualified and Non-Qualified surcharges that a high percentage of transactions experience, or the fact that such a rate would only be experienced with a minuscule percentage of a merchant’s transactions. The company also hires independent resellers, which would normally be a strike against it, but GoEmerchant’s compensation program does not appear to encourage price gouging like many others do in this industry. GoEmerchant is currently showing a handful of negative reviews online regarding its sales tactics, specifically concerning nondisclosure of monthly fees. Overall, the company appears to be neither exceptionally transparent nor exceptionally deceptive. GoEmerchant could improve its rating in this section by removing the misleading rate quotes from its website.
GoEmerchant Marketing Example
|Key Points – Costs & Contract Terms|
|Termination fee:||$495 or none|
|PCI compliance fee:||Variable|
GoEmerchant appears to use First American Payment Systems (FAPS) as its processor, and FAPS’s standard agreement has a three-year service agreement with a $495 early cancellation penalty; however, GoEmerchant appears to have the freedom to waive these requirements with its merchants. Therefore, merchants who apply with GoEmerchant may have month-to-month agreements with no cancellation fee. If you choose to apply with GoEmerchant, be sure to read your merchant account agreement to make sure this applies to you. GoEmerchant’s other pricing and fees will vary depending on the services the merchant requires. As of this review, it is unclear if GoEmerchant charges a PCI Compliance fee. If you have any information regarding this, please leave it in the comment section below.
|Key Points – Complaints & Service|
|Live customer support:||Yes|
|Most common complaint:||N/A|
We have found approximately five GoEmerchant negative reviews online, and none of these complaints specifically accuse the company of being a scam. Common complaints include hidden fees, difficulty cancelling service, and withholding of funds. This is a low complaint total for a company of GoEmerchant’s size and time in business, but it is possible that additional GoEmerchant complaints may have been mistakenly filed against FAPS instead of GoEmerchant. There is no solid evidence at this time that this is occurring, so we will assign the company an “A” rating in this category. GoEmerchant offers a phone number for customer support on its website.
|Key Points – BBB Report|
GoEmerchant has been accredited with the Better Business Bureau since 2001. As of this review, the BBB is reporting an “A+” rating with only two complaints filed in the last 36 months. One complaint was related to a product or service problem, while the other was due to a billing or collection dispute. Both were resolved to the satisfaction of the complainant. We believe “A+” ratings should be reserved for companies with zero public complaints and have adjusted GoEmerchant’s rating in this section to an “A” for the purposes of this review.
* Denotes CPO-adjusted BBB score
Related: Best Processors For E-Commerce
This review was originally published on 12/28/12 and was last updated on 5/15/15.
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