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Poynt POS Credit Card Processing 2023: Reviews & Complaints
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Originally created to sell the “world’s first smart payment terminal,” Poynt is a POS provider that offers credit card processing software and hardware for merchants. Poynt was launched in late 2014 by the former head of Google Wallet to promote a single piece of hardware with pre-installed POS software as well as a built-in register, scanner, and printer. The company started shipping its first orders in September 2015 and has since expanded its service offering to include a proprietary operating system, business management tools, and an app marketplace.
Acquired by GoDaddy
In December 2020, GoDaddy announced its intention to acquire Poynt for $320 million cash at closing, with an additional $45 million in deferred cash payments due over the next three years. GoDaddy plans to integrate Poynt payment systems into its existing hosting platform.
Poynt Point of Sale
Poynt sells its own proprietary POS system that uses its own software. These POS systems come in both mobile and tabletop options and feature EMV reading, NFC, mag stripe swiping, gift card reading, EBT, a cash option, PIN on glass, and accept all major debit and credit cards. They have PCI compliance built-in and can also accept MOTO and virtual terminal purchases. Poynt also sells a variety of accessories, including USB and wireless printers, paper rolls, cash drawers, and USB/HID barcode scanners. Poynt is compatible with all major credit card processors, so clients will not need to switch processors to use the product
Mobile Payment Solutions
Poynt’s mobile payment solutions allow businesses to process payments on-the-go using the Poynt Mobile app. This feature is particularly useful for businesses that operate outside of traditional brick-and-mortar locations, such as food trucks, pop-up shops, and service providers.
Robust Reporting and Analytics
Poynt offers robust reporting and analytics tools, giving businesses access to valuable insights about sales trends, customer behavior, and overall performance. These data-driven insights can help merchants make informed decisions about their business strategies and identify areas for improvement.
Location & Ownership
Osama Bedier is the founder and CEO of Poynt, which is headquartered at 4151 Middlefield Rd Floor 1, Palo Alto, California 94303.
Table of Contents
- Costs & Contract: Price and contract terms will vary depending on…
- Complaints & Service: Has received more than 20 public complaints about its…
- BBB Rating: Currently has an “A+” rating with the Better Business Bureau but has received 4 complaints and 2 reviews in regards to…
- Sales & Marketing: Does not market directly to merchants and has not received any complaints about its…
Poynt Customer Reviews
Here's What Their Clients Say
|Total Online Complaints||30+|
|Live Customer Support||No|
|Most Common Complaint||Product Malfunctions|
We are currently able to locate over 30 negative Poynt reviews across various consumer protection websites, though none outright accuse the company of being a ripoff or a scam. Common complaints include persistent software and hardware malfunctions, poor customer service, and difficulty setting up the system. A consistent theme in these Poynt reviews seems to be frustration with constantly glitching devices that often load slowly or malfunction within the first few months of use. If you have your own Poynt review to make, please do so in the comments below.
We have not found any outstanding class-action lawsuits or FTC complaints filed against Poynt. In 2016, the company was sued by Verifone for trademark infringement following its acquisition of the company Point International AB. However, Verifone’s lawsuit was unsuccessful when a federal judge ruled against them, and this lawsuit was not in regard to any of Poynt’s merchant services. Dissatisfied clients who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations.
Poynt Customer Support Support Options
Poynt generally refers clients to the processor or agent who sold them the terminal for customer support, but it does offer technical support via a contact form and live chat feature on its website as well as a new phone number. The company’s FAQ page and dedicated “Help Center” section also provide information about the product. The company does appear to attempt to remedy complaints, particularly those that come through on its Facebook page. Although Poynt has a relatively low complaint total for a company that has been in business since 2014, many of the complaints are recent enough and echo severe enough issues to negatively impact Poynt’s score in this category.
Poynt Online Ratings
Here's How They Rate Online
Under 5 Complaints
Poynt currently has an “A+” rating with the Better Business Bureau and does not receive BBB accreditation. The company has received 4 complaints in the last 36 months.
What Merchants Say
Poynt has also received 2 informal reviews, which are negative in tone. It should be noted that these reviews are not subject to authentication by the BBB. The most recent review describes faulty equipment and a poor response from customer service:
Very bad service, we got our machine on 4-28 , we start using it, then we called them because there is no option to do settlement and the guy told us it will do it automatically, the next day we is it and still no settlement and on the 3d day the machine stopped working and all the transactions still in the machine none of then went to our account made our checks pounced, I been calling and send them emails and all I get from them the same answer which is the issue been escalated to our team , it is been over a week now , what kind of company is this , and the funny thing is they have more 3 phone numbers and every time I call different number the same guy answer,
Merchants should review the best providers for customer service before entering into any contract as well as the reputation of a company’s sales tactics.
An “A” Overall
In light of the company’s low complaint total, we agree with the BBB’s rating of an “A.” Merchants should note, however, that there are reasons to be skeptical of the BBB’s rating system.
Poynt Fees, Rates & Costs
A Closer Look at The Contract
|Monthly & Annual Fees||No|
|Processing Rates||1.00% - 4.99%|
|Equipment Leasing||Possible through resellers|
No Contract Terms
Poynt can be purchased at a variable cost from a business’ current provider and does not come with a linked merchant account. This means that Poynt does not charge any per-transaction fees, monthly fees, or cancellation fees, and there are no contract terms associated with its use. Poynt is simply a piece of equipment that connects to a client’s chosen credit card processor or existing POS system. Any additional fees that a business pays on a per-transaction or monthly basis will be charged by that business’ processor.
Avoid Equipment Leases
Like other smart terminals, it is likely that Poynt will be priced higher than conventional credit card swipers. However, the versatility of the product will likely justify any one-time purchase cost. If businesses are presented with an option to lease Poynt, then they are advised to scrutinize the terms of the lease carefully. Traditionally, equipment leases are occasions for providers to lock merchants into long-term contracts that end up costing much more than the equipment is actually worth. Although a Poynt terminal is worth more than a conventional terminal, it still isn’t worth paying thousands of dollars over the course of several years just to have one. In fact, most credit card terminals can be purchased for under $500.
Poynt Employee Reviews & Sales Tacitcs
Should You Work For Them?
|Uses Independent Resellers||No|
|Discloses All Important Terms||Yes|
Removed From Sales Process
Poynt does not market directly to businesses. Instead, business owners can purchase Poynt through one of its partner processors if they wish. This means that Poynt is generally removed from the sales process. We therefore will assign the company a rating of “A” unless information emerges to suggest that the company is complicit in deceptive sales tactics.
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