GotMerchant Review

Rates and Fees
85/100
Truth in Advertising
95/100
Consumer Reviews
100/100
Customer Support
85/100
4.5

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:

Variable
Visit Gotmerchant

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 Overview

 

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.

Quick Facts

Head Quarters

PO Box 751 Fate, TX 75132

Year Founded

1998

CEO

Mr. Curtis D. Stevens

Employees

Unknown

Merchant Provider Risk Tolerance

Low Risk Businesses

What We Like

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.

What We Don't Like

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.

Industries Served

  • Online Sellers

Business Types Served

  • Mobile
  • Online

Gotmerchant Products & 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.

Gotmerchant Payment Processing

  • Credit Card Processing
  • Debit Card Processing
  • Mobile Commerce
  • Online Payments
  • Payment Gateway

Gotmerchant Billing & Invoicing

  • Mobile Payments
  • Online Payments

Gotmerchant Advertising & Sales

 
GotMerchant appears to utilize its client network, an internal sales team, and its affiliate program to market its products and services. There is no indication that this company uses unethical or deceptive practices in its sales techniques.

There are also no negative reviews online about this company’s sales approach. There are many testimonials that indicate that terms were communicated consistently to all merchants that do business with this GotMerchant.

Truth in Marketing

Discloses All Important Terms

Yes

Public Pricing Available

Yes

Gotmerchant Pricing, Rates & Fees

 

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 at a Glance

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 Contract & Terms

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 Setup & Support

 

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.

Setup Highlights

  • Documentation / Knowledge Base

Support Highlights

  • Domestic Phone Support (Business Hours)
  • Email Support

Gotmerchant Complaints, Ratings & Reviews

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.

Ratings

BBB

A+ and has been Accredited since 2010. (0 Reviews; 0 Complaints)

Google

N/A

Facebook

N/A

Yelp

No Review

Reviews

Total Online Reviews

20+

Total Online Complaints

0

Lawsuits

Unknown

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