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GoEmerchant Review

Phillip Parker

I'm the creator of this website and a professional merchant account rate and fee negotiator. I help businesses drastically lower their processing costs with existing or new merchant account services. I've also appeared in popular publications such as INC Magazine, The Atlantic, The Los Angeles Times, Detroit Free Press, Computer World Magazine, and several others. Contact me if you need advice with your credit card processing.

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GoEmerchant Overview

Rating

4.8/5
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Most Recent Comment

Rating

4.8/5
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Most Recent Comment

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Founded in 1995

GoEmerchant is a small merchant account provider based in Cherry Hill, New Jersey and founded in 1995. The company got its start by developing e-commerce payment processing solutions and then expanded into various other electronic payment solutions. After many years in business, GoEmerchant reports that it manages about 20,000 merchant accounts.

A First American Payment Systems Reseller

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 the CEO of GoEmerchant, which is a registered ISO/MSP of Fifth Third Bank, Cincinnati, Ohio. The company is headquartered at 800 Cooper St., Suite 500, Camden, NJ 08182.

GoEmerchant Review Table of Contents

  • Costs & Contract: GoEmerchant appears to offer variable contract terms through First American Payment Systems that may include a $495 early termination fee.
  • Complaints & Service: GoEmerchant has received fewer than 10 public complaints.
  • BBB Rating: GoEmerchant has an “A+” rating with and has received 1 complaint in the past 3 years. The company has been accredited by the Better Business Bureau since 2001.
  • Sales & Marketing: GoEmerchant appears to hire independent sales representatives and has received a few complaints about its sales practices.
  • Rates & Fees: How Merchants Got The Best Rates With GoEmerchant

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GoEmerchant Rates, Fees, and Costs

GoEmerchant Rates, Fees, and Costs

Key Points

Swiped Rate 1.00% - 4.99%
Keyed-in Rate 1.00% - 4.99%
Virtual Terminal Rate 1.00% - 4.99%
Payment Gateway Fee Undisclosed
Early Termination Fee $495 Or None
PCI Compliance Fee $120 Per Year
Equipment Lease Terms 48 Month (locked)

Variable Contract Terms

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. In some cases, however, GoEmerchant appears to have the freedom to waive these requirements for its merchants. We’ve seen at least one complaint that mentions a full $495 early termination fee, but some merchants who apply to GoEmerchant may receive month-to-month agreements with no cancellation fee. If you choose to sign up with GoEmerchant, be sure to read your merchant account agreement to make sure you are getting the best deal possible.

Virtual Terminal and Payment Gateway Pricing

In addition to its storefront payment processing services, GoEmerchant also dedicates a portion of its website that advertises its virtual terminal and payment gateway services. This portion of the website lists highly customizable e-commerce options thanks to the company’s experienced team of developers. Their comprehensive features include Apple Pay integration, recurring billing, and ACH eCheck acceptance, among others. However, pricing on either of those services is not disclosed. Additional rates and fees, including gateway fees, technical support fees, batch fees, and additional transaction rates typically apply to these e-commerce services.

Other GoEmerchant Fees

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. It should be noted that a typical merchant agreement through FAPS enforced an annual PCI compliance fee of $120 as well as non-cancellable equipment leases through its leasing affiliate Merimac Capital. The limited information we have obtained about the company’s pricing does not suggest that it can compete with the pricing offered by the cheapest merchant account providers. If you have any information regarding GoEmerchant’s rates and fees, please leave it in the comment section below.

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GoEmerchant BBB Rating Summary

GoEmerchant BBB Rating Summary

Key Points

Product & Service Complaints 1
Billing & Collection Complaints 0
Advertising & Sales Complaints 0
Guarantee & Warranty Complaints 0
Delivery Complaints 0

Under 5 Complaints

GoEmerchant has been accredited with the Better Business Bureau since 2001. As of this review, the BBB is reporting an “A+” rating with only 1 complaint filed in the last 36 months. The sole complaints were related to a product or service problem and was successfully resolved.

An “A” Performance

Given the fact that the company has received only two complaints, we agree with the BBB’s rating at this time.

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Truth In Marketing & Advertising

Truth In Marketing & Advertising

Key Points

Employs Independent Resellers Yes
Advertises Deceptive Rates Yes
Discloses All Important Terms No

Incomplete Rate Quotes

GoEmerchant advertises a rate quote “as low as 0.89%” per transaction on the Mobile Payments page of its website. This quote is misleading because it does not include the Mid-Qualified and Non-Qualified surcharges that a high percentage of transactions receive, or the fact that only a minuscule percentage of a merchant’s transactions would receive the 0.89% rate. 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.

Few Sales Complaints

GoEmerchant is currently showing a handful of negative reviews online regarding its sales tactics, specifically concerning nondisclosure of monthly fees. Overall, the company’s marketing strategy appears to be neither exceptionally transparent nor exceptionally deceptive. If you are concerned that GoEmerchant is overcharging you, you can spot hidden fees in your statement with a third-party statement audit.

Sales & Marketing Example

Our Opinion Of GoEmerchant

goEmerchant logo

A Solid Option for Most Businesses

Even though GoEmerchant is a small provider, the company seems to be a solid performer with a long track record of few public complaints. GoEmerchant uses FAPS as its processor, so merchants would be wise to fully read and understand the company’s merchant account agreement before signing it. It should also be noted that “GoEmerchant.com” could be confused with “Gotmerchant.com,” a different company, in search results. Merchants are encouraged to compare GoEmerchant’s pricing with that offered by top-rated credit card processors in order to obtain the best deal.

Phillip Parker - Creator of CardPaymentOptions.com
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Why I'm Qualified to Write About Credit Card Processing

I’m a small business owner who previously worked in the credit card processing industry. I started this blog in 2009 to help other business owners by exposing credit card processors that engage in unethical marketing, rate and fee trickery, and fine-print-contract schemes. Over the last decade, I’ve reviewed hundreds of merchant services providers which has helped to educate over 5 million businesses on the nuances of credit and debit card acceptance. I’ve appeared in the New York Times, Los Angeles Times, Inc. Magazine and a host of other publications to offer insight on the subject of card acceptance. 

I offer merchant account and credit card processing consultation for the following needs:

  • Selecting the right credit card processing services for your business.
  • Reducing credit card processing fees with your current merchant account provider.
  • Negotiating credit card processing fees when changing merchant accounts.
  • Strategies for reducing and recovering funding holds and chargebacks.

 

Schedule a call with me today!

 

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Leave Your Review For GoEmerchant

2 Responses

  2. We didn’t have to sign a contract, I was told it was month to month and cancelable at any time. Our sales person said I was signing only for the equipment and the signing was done on a smart phone. Fees are much higher than quoted; the actual process accounting/batching process is performed at the GoE website after negiotiating several pages online and the site will time-out if not used regularly so the entire log-in (and several pages) is required several times a day; receipts are printed on your own printer so be prepared for additional printer ink and paper costs. It’s cumbersome. After a day we knew it wouldn’t work well in our office setting but they refused to cancel without a $495 cancellation fee. WATCH OUT.

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    Fattmerchant
    Why Fattmerchant
    Fattmerchant has passed our review with flying colors due to a highly-reviewed support, and rock-bottom fees, a month-to-month service agreement, no cancellation fees, no hidden fees, and having wide variety of processing solutions. See our full Fattmerchant review. You can also visit Fattmerchant’s website, or call (866) 397-9826 for all the details on their services.

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    Are you getting declined because of your business type or credit history? Check out PaymentCloud for hard-to-approve merchant accounts, or call  (888) 506-7859.

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