SpotOn Transact Credit Card Processing 2023: Reviews & Complaints

SpotOn Transact
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SpotOn Transact

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Company Overview

Founded in 2011, SpotOn Transact is a merchant account provider that serves most standard-risk business types with an emphasis on those in the restaurant and hospitality industries. The company is the latest venture from Matthew and Zachary Hyman, the co-founders of Central Payment Corporation (CPAY). CPAY was gradually acquired by TSYS from 2012 to 2017, and it appears that the Hymans made the permanent transition to SpotOn in the wake of CPAY’s final acquisition phase.

SpotOn Transact has made a number of acquisitions, including Lifeyo, Seatninja, Appetize, and EmaginePOS.

Burgeoning Business Model Boasted by Outside Investment

As part of raising capital for its emerging business, SpotOn Transact closed a $50 million Series B financing deal with 01 Advisors. The investment firm was founded by former Twitter CEO Dick Costolo as well as other executives from the social media company including Adam Bain and David Rivinus. Investors from Dragoneer Investment Group, Franklin Templeton and EPIQ Capital Group also contributed to the Series B financing. This venture capital fundraising adds to SpotOn’s revenue following a fiscal year in which it increased its revenue by 150%. With this investment at its disposal, SpotOn looks to enhance its stake in the POS and merchant account markets.

Point of Sale

SpotOn offers its own proprietary point-of-sale system called SpotOn Terminal. Their website boasts that it is Apple Pay, Google Pay, and NFC enabled, features Wi-Fi and 4G connectivity, is cash discount and surcharge ready, and offers real-time data and sales reporting. It also utilizes customer data capture, built-in marketing tools, next-day funding & transparent pricing, and 24/7/365 customer support.

SpotOn’s E-Commerce Solutions

Recognizing the rapid growth of online business, SpotOn offers robust e-commerce solutions. This service allows businesses to handle online transactions securely and efficiently. With customizable online storefronts and secure online payment processing, businesses can offer a seamless online shopping experience to their customers.

Mobile Payment Processing by SpotOn

To cater to the increasing need for mobility and convenience in transactions, SpotOn offers mobile payment processing services. This feature allows businesses to process card payments from mobile devices, offering increased flexibility for on-the-go transactions.

Customer Engagement Tools from SpotOn

In addition to their payment processing services, SpotOn offers customer engagement tools. These tools help businesses connect with their customers through marketing automation, customer reviews, and loyalty programs. This service is designed to improve customer satisfaction and drive business growth.

SpotOn’s Security and Fraud Protection

Understanding the critical importance of security in maintaining trust, SpotOn provides advanced security measures and fraud protection. These features include encryption, tokenization, and comprehensive fraud monitoring tools to protect businesses and their customers from potential security threats.

Location & Ownership

SpotOn Transact is headquartered at 100 California St 9th floor, San Francisco, CA 94111, and is a registered ISO/MSP of Merrick Bank, South Jordan, UT. Zachary and Matthew Hyman are the co-founders of SpotOn Transact.

SpotOn Transact Pros and Cons


  • Revamped sales department
  • Decent POS system


  • Prices can get high with add-ons
  • Former sales issues

Video Summary

YouTube video

Table of Contents

  • Costs & Contract: Offers a month-to-month contract with variable rates and additional…
  • Complaints & Service: Has received more than 20 public complaints regarding…
  • BBB Rating: The company has been accredited by the Better Business Bureau since 2018. Currently has an “A+” rating but has received 27 complaints and 16 reviews in regards to…
  • Sales & Marketing: Does not hire independent sales agents as its…

SpotOn Transact Customer Complaints & Reviews

Here's What Users Think

Complaint Summary

Total Online Complaints
Live Customer Support
Most Common Complaint
Poor Service
Recent Lawsuits

Moderate Complaint Total

We are currently able to locate over 20 negative SpotOn reviews, some of which accuse the company of being a ripoff or a scam. Complainants primarily mention pushy sales tactics, poor customer service, dysfunctional products, and billing issues. SpotOn’s complaint rate is lower than CPAY’s, but the company still has a moderate complaint volume for its size and time in business. If you have your own SpotOn review to make, please do so in the comments below.

SpotOn Lawsuits

Rival point-of-sale creator Toast sued SpotOn in 2020 over alleged stealing of employees who had non-compete clauses. The suit was voluntarily dismissed by Toast in late 2020, though it is unclear what caused them to do so. Dissatisfied clients who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations.

SpotOn Customer Support Options

The SpotOn website provides email support contact information and a dedicated customer support number. This level of support does not qualify it as a top-rated customer service processor, and we have accordingly assigned the company a “B” rating.

SpotOn Customer Service Number

(877) 814-4102 – General Support

SpotOn Transact BBB Rating and Report

Our Better Business Bureau Profile Assessment

BBB Summary

BBB Reports

Under 10 Complaints

SpotOn Transact has an “A+” rating with the Better Business Bureau and has been BBB accredited since 2018. The company has received 27 complaints in the past 36 months. Only 11 of these 27 complaints were resolved by the company to the satisfaction of the merchant. The remaining 16 were resolved to the dissatisfaction of the merchant or received no final response.

What Merchants Say

SpotOn has also received 16 informal reviews on its BBB profile. 4 of those reviews were positive, meaning 12 were negative. The most recent negative review describes issues with double charges:

I just received an email today on 01-06-2022 from Spoton about a $25 Charge that will be debited from my business account. I called spoton to adress my concern with a representative. The Rep told me that it is a “Software Platform Fee” and that it will be debited on the next business day. I got very angry and told the Rep that am I already paying for “one platform fee” every month. Turns out, I was being billed for 2 separate fees in the amount of $25 every month the entire time I have been with Spoton. The Rep at this point didn’t know what to say so he hung up on my face. **** – SPOTON SOFTWARE $25.42 SPOTON SOFTWARE/PLATFORM $25.00 More importantly, I am reaching my deadline on 01-13-2023 as a merchant with Spoton. I have given them a 30 day notice in advance that I am leaving them. In return, the lady in their Fraud prevention sent a letter stating that if I do not remove a photo that contains a small portion of our CBD and Kratom products, she will place *********** in a reserve account to make up for loss and damages Spoton is entitled to. Spoton, You made your money by putting me on a flat rate model and all those extra fees you have thrown in there. You do not have sufficient technology to keep businesses up and running. You have been dishonest and not very Transparent. I do not recommend you or your services to anyone. I have had it with you, your technology, and your dishonesty. Not anymore!

Clients who find themselves in this position may benefit from taking the steps to cancel their merchant account without paying a fee.

An “A” Performance

Given the company’s low complaint total, we agree with the BBB’s rating at this time. However, it is on the verge of being reduced to a “B”.

SpotOn Transact Fees and Rates

A Closer Look at the Contract

Cost Summary

Cancellation Penalties
Monthly & Annual Fees
Processing Rates
Processing Rates
Equipment Leasing

SpotOn Contract Terms

SpotOn claims to offer “no long-term contract”, which may indicate that its standard contract is a month-to-month agreement. The company’s Pricing page lists a “Preferred Payment Processing Rate Program” that charges 1.99% plus $0.20 per swiped transaction and 2.99% plus $0.20 per keyed-in transaction, although these rates are not inclusive.

SpotOn Pricing Plans

SpotOn offers two basic pricing plans: SpotOn with Payments and SpotOn Software Only. The SpotOn with Payments plan costs $25 per month plus associated payment processing fees and an optional loyalty program ($25 per month), appointment scheduling tool ($25 per user after the first), and website ($25 per month). The company’s payment processing hardware includes a Poynt terminal ($15 per month), a SpotOn Register ($65 per month), and SpotOn Restaurant ($65 per month). The SpotOn Software Only plan costs $195 per month and includes all of the above services except for payment processing and its related equipment.

Custom Pricing Options

SpotOn agents appear to be able to set rates and pricing within certain guidelines as set by the company, so rates and fees may vary upon merchant request. With that said, it appears that SpotOn encourages agents to set high pricing and rates in exchange for large commissions. It is therefore highly unlikely that SpotOn’s terms will compete with pricing offered by the cheapest merchant accounts.

SpotOn Transact Jobs and Employment

Hiring Standards and Ethical Marketing Assessment

Key Points

Uses Independent Resellers
Misleading Marketing
Discloses All Important Terms

No More Use of Outside Sales Agents

SpotOn does not appear to use any deceptive advertising or rate quoting in its official materials. However, we have found numerous SpotOn review that mention aggressive sales tactics and incompetent sales agents. These complaints are consistent with the negative reports we received about CPAY. In an effort to distance itself from the effects of that practice, SpotOn Transact no longer relies on outside sales agents, according to a company representative. Now, SpotOn relies entirely on an in-house sales team.

An Improved Grade for Initiatives Taken Against Sales Complaints

Given its willingness to reshape its sales approach, SpotOn Transact receives a “B” overall in this category. In addition to ridding its business of outside agents, a company representative informed us that its in-house sales team is paid by salary along with full benefits and a 401k. That improved employment practice for its sales agents ostensibly will provide merchants with a much better experience with the company. If you suspect that a SpotOn sales agent has added undisclosed fees to your account, we recommend seeking a third-party statement audit.

SpotOn Transact Review Summary

Our Final Thoughts and Opinions

SpotOn rates as an average credit card processing provider according to our rating criteria. However, given the recent investment capital, changes to sales practices, and the positive growth of its business, SpotOn is positioned to become a major merchant account provider. We will continue to monitor merchant feedback about SpotOn and adjust our rating accordingly. For now, businesses can obtain the best deal by comparing SpotOn’s pricing and contract terms to those offered by top-rated merchant account providers.

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Customer & Employee Reviews

What Others Are Saying About SpotOn Transact

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2 Responses

  • Brittany

    Bbw Smoke shop

    I have had nothing but horrible experience with this company. I have been waiting on a refund for 2 months now. I have changes on my account due to illegally drafting my business bank account. I am getting nsf fees due to this issue you all have created an have not taken accountable for. I am going to continue to report this business. You all are acting illegal and I am gathering others who this company have scammed and taking action.

  • Zion Anita

    SpotOn Transact has been a game-changer for our business! We’ve been using it for a few months now, and we couldn’t be happier with the results. The seamless payment processing and user-friendly interface make transactions a breeze for both our team and customers. No more hiccups at the checkout!

    The reporting and analytics features have also given us valuable insights into our sales trends, helping us make better-informed decisions. Plus, the loyalty program has been a hit with our regulars, keeping them coming back for more.

    Their customer support team has been top-notch too, always ready to assist whenever we had questions or needed help. SpotOn Transact has truly exceeded our expectations, and we highly recommend it to any business looking to streamline their payment process and boost customer satisfaction. It’s a win-win!


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