iPayment is situated in Walnut Creek, California and is a long established and experienced business. iPayment adopts a premium position in the market and boasts a very large network of customers.
iPayment describe their own business as being customer focused and also raise a lot of money for local charities. As such a large company, iPayment has a great number of resellers and has bought out a number of companies over recent years, meaning their network will only continue to grow.
|Reviewed by Expert Market:||02/15/2016|
Features and Services
- Services: Merchant accounts.
- Industries Served: B2B companies, e-commerce sites, gas stations, the government, hotels, rental companies, restaurants, service providers and small businesses.
- Payment Solutions: Gateway payments, machine payments, mobile and telephone payments and virtual payment terminals.
- Contract Type: 3-year contract.
- Activation and Setup: No sign-up fees, $200 cancellation fee.
- Administrative Fees: No monthly fee, $25 monthly minimum fee, $9.95 monthly fee to cover gateway payment.
- Transaction Rates & Fees:
- $0.10 for each retail credit transaction
- $0.10 for each debit card transaction
- $0.29 for each online transaction. You will be obliged to pay
- 1.59% of the retail credit transaction
- 1.11% of the retail debit card transaction
- 2% of the online transaction.
The Expert Market Verdict
iPayment is unquestionably one of the bigger players within this industry and as such a large processor, many larger companies will be attracted to this particular feature. However, whilst this company may suit larger firms, small and medium sized businesses should be careful when considering iPayment as a supplier. With a relatively long term contract and a fee for early cancellation, there is a risk that iPayment could be quite an expensive option for your business.
iPayment can provide a vast selection of products and services, which is one of the greatest benefits. However, if you take the time to look at reviews you will see that their customer service is perhaps not the best that it could be. This is something which should be considered very carefully, especially for new or smaller businesses who are likely to need a lot of support.