Best for
Merchants with any size businesses - from small startups to large, multi-million dollar companies - that are in need of merchant accounts and payment processing services.
Specializes in
GotMerchant specializes in working with merchants that are in need of Yahoo store merchant accounts, as well as those that are interested in the company’s free POS system program, which is available through Harbortouch.
Pricing Summary
Setup Fee: Unknown
Monthly Fee: Unknown
Swipe Rate: Unknown
Keyed-in Rate: Unknown
Early Termination Fee : $250
Contract Terms:
GotMerchant is a company that was first founded in 1998 as a web hosting company called Simple Solutions.
In 2001, the company shifted its focus to payment processing and changed its name to GotMerchant.
Curtis Stevens is the CEO of GotMerchant, and the company is headquartered in Fate, Texas.
GotMerchant has been providing payment processing services to businesses of all sizes since 2001. Prior to that, it was called Simple Solutions and functioned as a web hosting company. Simple Solutions got its start in 1998.
This company is located in Fate, Texas and Curtis Stevens is the company’s CEO. He is also employed as an independent sales rep for Harbortouch, which offers GotMerchant’s free POS system program.
GotMerchant is a registered ISO/MSP of First National Bank of Omaha, Omaha, Nebraska. Over the years, this company has received top online reviews from various websites. The company has formed many strategic partnerships to allow it to serve such a varied list of merchant customers.
Head Quarters
PO Box 751 Fate, TX 75132
Year Founded
1998
CEO
Mr. Curtis D. Stevens
Employees
Unknown
Merchant Provider Risk Tolerance
Works with everyone from small merchants to multi-million dollar corporations.
Assists merchants who need Yahoo store merchant accounts and other individuals.
Offers cell phone credit card processing.
Has a gift card program.
Hardware and software is available.
Early termination fees.
Low risk business tolerance.
Has an affiliate program to market products and services.
Locked contract of 36 months if companies systems and equipment are added.
Two year contract must be signed by everyone to use the company's services.
Hardware & Software
GotMerchant offers three different options for POS systems:
Restaurant POS systems
Retail POS systems
Cloud-based POS systems
In addition, the following pieces of equipment are also available:
Casio electronic cash registers
Retail credit card machines
Wireless credit card machines
For mobile payments, GotMerchant offers cell phone credit card processing through a service called Touch Tone.
GotMerchant uses Authorize.net as its payment gateway and can provide merchants with processing services through QuickBooks as well.
Value-Added Services
Other than its gift card program, GotMerchant does not have any value-added services outside of credit card processing and merchant accounts. However, its website does state that it works with merchants that have Yahoo stores to provide them with merchant accounts and processing services, which may be hard to find elsewhere.
Supported Payment Types & Services
Merchants that work with GotMerchant will be able to accept the following forms of payment:
All four major credit cards (both magstripe and EMV)
Debit cards
Checks and electronic checks
There is very little information provided about the types of payments that are accepted with this company’s hardware. Today’s POS systems often include the ability to accept mobile wallet payments, although that is not specified on this company’s website.
Discloses All Important Terms
Yes
Public Pricing Available
Yes
GotMerchant offers a lot of information online about its fees. The following is publicly available:
Retail debit rate - 0.69% + $0.20
Retail qualified rate - 1.69% + $0.20
Retail mid-qualified rate - 2.44% + $0.20
Retail non-qualified rate - 3.29% + $0.20
Virtual terminal debit rate - 0.99% + $0.25
Virtual terminal qualified rate - 2.19% + $.0.25
Virtual terminal mid-qualified rate - 2.94% + $0.25
Virtual terminal non-qualifed rate - 3.79% + $0.25
Payment gateway fee - $10 per month
Monthly minimum fee - $25
Monthly service fee - $10
GotMerchant advertises a free POS system program, which can be somewhat misleading. In the fine print, the company clarifies that the system is free to receive, but the merchant is expected to pay a fee for the equipment each month.
Pricing Model
Interchange Plus
Swiped Rate
Unknown
Keyed-in Rate
Unknown
Mobile Payment Rate
Unknown
Virtual Terminal Rate
Unknown
Monthly Fee
Unknown
Payment Gateway Fee
$10 per month
Batch Fee
Unknown
Early Termination Fee
$250
PCI Compliance Fee
Unknown
Equipment Lease Terms
36 months (locked)
Address Verification Service (AVS)
Unknown
Application Fee
Unknown
Account Setup Fee
Unknown
Gateway Setup Fee
Unknown
Annual Fee
None
Monthly Minimum
$25
Statement Fee
Unknown
GotMerchant requires its merchant customers to sign a two-year contract. Terminating the contract early results in a $250 early termination fee.
Merchants will also be locked into a 36-month contract if they choose to use the company’s POS systems and other equipment. Typically, these types of contracts cannot be canceled.
Contract Length
Variable
Early Termination Fee
$250
GotMerchant advertises that once a prospective merchant fills out the company’s online application, they will receive an approval decision within 24 hours.
Once a merchant gets approved, the length of time before they can start accepting payments will vary based on how they will accept them. Merchants utilizing the company’s payment gateway may be able to begin within a few days’ time. Others may need to wait up to 14 days before they receive their equipment.
GotMerchant has two phone numbers for customer support displayed on each page of its website. There is also a Contact Us page that has additional phone numbers, an email address, and a form that can be filled out.
BBB Rating
GotMerchant is an accredited business with the Better Business Bureau and the company has an A+ rating. There are no complaints or reviews for GotMerchant on the BBB website.
Other Online Reviews
There are many positive reviews online for GotMerchant, and no complaints.
BBB
A+ and has been Accredited since 2010. (0 Reviews; 0 Complaints)
N/A
N/A
Yelp
No Review
Total Online Reviews
20+
Total Online Complaints
0
Lawsuits
Unknown
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