In this review of Kotapay, we will cover the company’s history, services, and operational practices, detailing its transition from InterceptEFT to its current standing under the ownership of First International Bank & Trust. We will discuss the range of payment processing solutions Kotapay offers, including its partnerships with BASYS Processing and its role as a reseller of Fiserv and Clover solutions. Additionally, we will examine Kotapay’s approach to customer service, its strategic business decisions, and the impact of these factors on its reputation within the industry. Insights into Kotapay’s contract terms, fee structure, and the regulatory environment affecting payment processors will also be provided, alongside an evaluation of customer feedback and the company’s standing with the Better Business Bureau. By the end of this review, you will have a comprehensive understanding of whether Kotapay meets your payment processing needs.
About Kotapay
Kotapay is a merchant account and credit card payment processor based in Fargo, North Dakota. Originally operating under the name of InterceptEFT, the company was acquired by First International Bank & Trust in 2018 and rebranded as Kotapay. The company has been in business for 25 years according to its Better Business Bureau profile.
Kotapay has announced that it partners with BASYS Processing for debit and credit card processing services. Kotapay and First International Bank & Trust are also a contracted reseller of First Data (now Fiserv) and Clover solutions.
Kotapay Homepage
Kotapay Products and Services
Payment Processing
Kotapay handles payment processing for all major debit and credit cards across various business types.
ACH Processing
Kotapay provides ACH processing services, allowing businesses to handle direct transfers between bank accounts. This service is often used for recurring payments, payroll, and other electronic transactions that don’t involve credit or debit cards.
Clover POS Systems
Kotapay offers Clover POS systems, which provide businesses with a range of tools to manage in-person transactions. These systems are commonly used in retail and hospitality settings and include hardware and software for payment processing and business management.
Mobile Payment Solutions
With mobile payment solutions, Kotapay enables businesses to accept payments via mobile devices. This service is designed for businesses that operate outside of traditional retail environments and need flexible, on-the-go payment options.
Pay Now Payment Gateway
Kotapay’s Pay Now Payment Gateway allows businesses to process payments online. It integrates with websites and e-commerce platforms to provide a secure and straightforward way to accept payments from customers.
Kotapay Customer Reviews
Few Complaints
Kotapay, being a relatively new entity in the market, has limited documentation at this time. The number of Kotapay reviews and Kotapay complaints is sparse. One complaint noted in the comments section of this review highlights issues with customer service. Its predecessor, InterceptEFT, maintained a commendable record as reflected in our reviews. It appears that Kotapay has upheld a satisfactory level of customer service and support following the brand transition. We welcome your Kotapay review; please share your experiences in the comment section below.
Kotapay Lawsuits and Fines
We have not identified any outstanding class-action lawsuits or FTC complaints against Kotapay. Merchants looking for non-litigious solutions with the company may consider reporting their concerns to the appropriate supervisory bodies, and we encourage them to share their Kotapay reviews in the comments of this article.
Kotapay Customer Satisfaction Ratings
Online Ratings Summary
Total Complaints
0
Resolved Complaints
0
No Complaints
According to the Better Business Bureau, Kotapay has been in business for 28 years. However, as mentioned previously, the majority of these years have been under the name of InterceptEFT. Kotapay has been accredited by the Better Business Bureau since 2018 and currently has an “A+” rating with 0 complaints and 0 reviews in the last 36 months.
An “A” Performance Overall
According to our records on InterceptEFT and current public complaints, we have no reason to disagree with the Better Business Bureau’s rating of an “A” at this time.
Kotapay Fees, Rates & Contract
Rates & Fees Summary
Swiped Rate
2.6%
Keyed-in Rate
3.55%
Amex Rate
3.4%
Batch Fee
$.35
Sign-up Fee
$41.95
Annual Renewal
$41.95
Partnered with BASYS Processing for Card Processing
Kotapay has chosen BASYS Processing as its partner for credit and debit card processing services. Although BASYS is known for its clear pricing model, specific details regarding Kotapay’s contract and rates are not readily available, and they may differ depending on the brand. The exact terms of Kotapay’s agreements, including any potential early termination fees, remain undisclosed.
Resells Fiserv (First Data) and Clover Merchant Accounts
BASYS discloses its rates online, whereas Fiserv (Formerly First Data) offers a variety of contract terms that can vary based on the merchant’s processing volume and industry. For detailed information on Fiserv’s rates, please refer to our Fiserv review. Kotapay also utilizes Clover POS systems for certain merchant accounts, enhancing their service offerings.
Negotiate Contract Pricing
At present, details regarding a specific Kotapay merchant account contract are unavailable. Merchants who have engaged with Kotapay for payment services are invited to share their experiences in the comments section. It is advisable for merchants to discuss Kotapay’s rates and contract conditions thoroughly and to review all contract documents carefully before agreeing to terms.
Kotapay facilitates access to Fiserv’s Clover POS systems.
Kotapay Employee Reviews & Sales Practices
Jobs & Marketing Summary
Uses Independent Resellers
Possible
Promotes Deceptive Rates
No
Discloses All Important Provisions
No
Previous Independent Sales Teams
While there is record of InterceptEFT hiring independent sales agents in the past, there is no current information to suggest that Kotapay contracts are under the same sales systems. InterceptEFT has been known to heavily rely on independent sales agents in the past; however, their network of independent agents produced few, if any, complaints.
Kotapay contracts have been publicly shown to be resold BASYS and Fiserv contracts. The exact details of these contracts, when issued by Kotapay, are still unknown. Considering the wide range of companies served by the two payment processors, it can be assumed there is potentially a wide range of rates possible. If any of our readers have dealt with a Kotapay contract recently, we ask them to comment below.
Kotapay Review Summary
Kotapay seems to be managing its merchant accounts effectively, as evidenced by the absence of current complaints. Historically, InterceptEFT, Kotapay’s predecessor, maintained a strong reputation with few complaints and even fewer poor reviews. This track record suggests a robust tradition of customer service, which we hope has been maintained through the rebranding process.
There is no reason not to recommend Kotapay for credit card processing services. The company’s clean slate in terms of complaints is a positive indicator of its commitment to customer satisfaction. For merchants seeking a reliable credit card processing solution, Kotapay appears to be a viable and trustworthy option.
Please note that we only suggest providers that adhere to strict ethical standards and offer top performing support at extremely competitive pricing. We may earn revenue if choose one of our recommendations.
Reader Comments, Testimonials & Complaints
3 User Reviews
Michelle
KWIK MONEY
STAY AWAY!! They are extremely unreliable. Different people, sometimes in the same department even, will tell you different things. Not transparent on their billing. Their website goes down often.
Raymond Berry
RB Accounting
Good service when talking to them on the phone/emailing. However their website and payment services are sh**. They go down at least once a week and sometimes for several hours or a full day depending on what it is. They will also send out double payments when you try to bill your clients. That went on for MONTHS. STAY AWAY
Lili
Kotapay’s customer service is very bad, and they have attitude while service client.
Do not choose this one if you do not want to argue with them.
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Michelle
STAY AWAY!! They are extremely unreliable. Different people, sometimes in the same department even, will tell you different things. Not transparent on their billing. Their website goes down often.
Raymond Berry
Good service when talking to them on the phone/emailing. However their website and payment services are sh**. They go down at least once a week and sometimes for several hours or a full day depending on what it is. They will also send out double payments when you try to bill your clients. That went on for MONTHS. STAY AWAY
Lili
Kotapay’s customer service is very bad, and they have attitude while service client.
Do not choose this one if you do not want to argue with them.