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iPayment POS Review

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PROS / Via CreditCardProcessing.com, iPayment POS provides low swipe-fee rates and low monthly fees, and it does not require a long-term contract.

CONS / This POS system is not designed to manage full-service restaurants.

 VERDICT / If you are looking for low rates for your retail store, iPayment is a POS service to put on your short list of options. It provides the lowest rates without a long-term contract.

iPayment POS is a collaborative effort between iPayment POS, VeriFone and CreditCardProcessing.com. Together they provide exceptionally low-priced swipe rates for their POS system. Using iPayment POS does not require a long-term contract. All accounts provide unlimited online data backup, online back-office tools, loyalty program tracking and appointment booking. The low fees combined with a simple-to-use register help this POS system earn the Top Ten Reviews Bronze Award.

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Although iPayment POS does not yet offer full-service restaurant POS systems, it is suitable for a wide range of businesses. Since it can manage appointments, it is suitable for salons, spas or pet groomers. It can also manage the processing for pizzerias, coffee shops and small grocers. In other words, it works best as a retail POS. Depending on the version you purchase, you can also manage employee time worked.

Value

Via CreditCardProcessing.com, iPayment POS offers the lowest swipe rates of the services we reviewed. The swipe fees are 0.35 percent to 1.55 percent plus $0.20 for swiped cards and 0.98 percent to 1.98 percent plus $0.21 for keyed-in cards. Actual swipe rates depend on your business volume. The service does not charge for hardware support, and a variety of hardware packages are available. At the minimum, you'll need to purchase the iPayment card reader to get started. An EMV-compliant card reader, which can also process NFC mobile payments, is available. Bundled hardware packages are also available. Hardware lease agreements are available for a low monthly fee.

Terms

You do not have to sign a long-term contract to use iPayment POS hardware and point-of-sale services. You can use it on a month-to-month basis if you prefer. If you opt to lease the hardware, the agreements are for 48 months. In the long run, buying the hardware upfront costs less if you can afford it. This POS service does not charge an early-termination fee for the payment processing. However, you will want to carefully review the hardware lease terms to know what the process is if you need to quit your contract.

Payment Processing

iPayment's payment processor can process most types of payments, including credit and debit cards, EBT cards, EMV chip and PIN cards, gift cards, and mobile phones with NFC. The processor will help you process all card types, and it will track cash and check sales as well. It can help you become compliant with security regulations by providing you with an EMV chip and PIN card reader. However, the iPayment card readers and software will only work with iPayment's processor. You cannot choose your own processor, and you cannot keep using your current processor.

Management Features

iPayment now offers Banq POS as its compatible software. While Banq provides hardware systems, iPad versions are also available. The software was created by iConnect but Banq has white-labeled the software and has an agreement with iPayment to provide the software. iConnect is compatible with other merchant services, but this version requires that you sign up with iPayment payment processing to use it. Overall, we found the software slow to respond compared to other apps, despite having a good internet connection and the latest iPad version during our product evaluation.

This software provides quite a few management reports, including employee performance reports. It also includes a built-in CRM tool for capturing useful customer contact information for email and text marketing. It integrates with QuickBooks to help you handle your sales and accounting duties. Versions are also available that accommodate up to 36 users.

Customer Care

You can contact iPayment for assistance any time of day, any day of the year. You can contact support by telephone, email, fax or snail mail. Remote assistance is also available. Since most issues are related to payment processing, iPayment provides different numbers for specific issues to help get you in touch with the right department as quickly as possible. If you experience a hardware failure, iPayment will send you replacement parts overnight.

Summary

VeriFone and iPayment, sold through CreditCardProcessing.com, have put together a competitive iPad POS system with low-cost credit card processing, making it a good candidate for rate shoppers. It is also practical that iPayment has made available the EMV card reader so that their customers can be compliant now without having to upgrade later.

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