Best for
Merchants of any size that are in search of payment processing equipment and software that can accept multiple forms of payment, including contactless payments.
Specializes in
Poynt specializes in providing payment processing hardware and software that is equipped with the most current technology.
Pricing Summary
Setup Fee: NA
Monthly Fee: NA
Swipe Rate: 1.00% - 4.99%
Keyed-in Rate: 1.00% - 4.99%
Early Termination Fee : $0
Contract Terms:
Poynt is a company that was originally created for the purpose of selling the world’s first smart payment terminal.
The company is a POS provider that offers credit card processing software and hardware for sale to various merchants with businesses of all risk levels.
The company was launched in 2014 and Osama Bedier is the founder and CEO of Poynt.
Poynt was founded in 2015 and sent out its first orders in September 2015. The company’s founder and CEO is Osama Bedier, who is the former head of Google Wallet. Poynt is headquartered in Palo Alto, California.
The company was founded for the purpose of selling the first smart payment terminal in the world. Since that time, Poynt has expanded its services to include business management tools, an app marketplace and a proprietary operating system.
In December 2020, GoDaddy announced that it planned to acquire Poynt in a deal that was expected to close early in 2021. GoDaddy stated that the company intended to integrate the company’s payment systems into its hosting platform.
Head Quarters
4151 Middlefield Road, Second Floor Palo Alto, CA 94303
Year Founded
2013
CEO
Unknown
Employees
unknown
Merchant Provider Risk Tolerance
Many options for smart terminals.
Only sell through partner processing companies.
No early termination fees.
No contracts, terminals purchased and owned by merchants.
Live chat for IT issues.
Customer complaints as to the quality of the product, including glitches and slow run time.
No listed time for initial setup.
The processing company sets the price for the equipment, not Poynt.
Some confusion on tech help, whether to go to a processing company or Poynt.
With purchase by GoDaddy, some conflict as to what exactly is offered.
Hardware & Software
Poynt offers hardware and software that is versatile to meet the ever-changing needs of its merchant customers. Using the company’s powerful APIs, merchants are able to accept payments on their websites, through mobile devices or through an app.
The company offers many options for its smart terminals including desktop terminals, mobile terminals and virtual gateway software. All of its equipment easily integrates with various accessories, including printers (wireless and wired), barcode scanners and cash drawers.
Value Added Services
Poynt offers several value added services for its merchant customers. They include:
Homebase, which is a time management app for employees. They can clock in and out and employers can easily manage their employees’ schedules and timecards.
Inventory management software.
Customer information software.
Daily sales reporting tools.
Appointment booking software.
Gift cards and software.
Specialized software for hospitality, lodging and retail merchants.
An ordering app for merchant customers.
Cash discount software.
Merchant cash advances.
Supported Payment Types & Services
Poynt POS systems and payment gateways can be set up to accept many types of payments, including:
EMV
NFC
Mag stripe payments
Gift cards
Debit cards
EBT
Cash
All 4 major credit cards
Pin-entered payments
Discloses All Important Terms
Yes
Public Pricing Available
Yes
Because Poynt is not an ISO, and it is solely a company that provides payment processing hardware and software, it does not set its own fees. Poynt products and services can be purchased from the merchant’s current payment processor at a variable cost.
Poynt does not charge any monthly fees, transaction fees or early termination fees. If these fees are charged, they come directly from the ISO and not from Poynt.
Pricing Model
Unknown
Swiped Rate
1.00% - 4.99%
Keyed-in Rate
1.00% - 4.99%
Mobile Payment Rate
1.00% - 4.99%
Virtual Terminal Rate
N/A
Monthly Fee
NA
Payment Gateway Fee
N/A
Batch Fee
N/A
Early Termination Fee
$0
PCI Compliance Fee
$0
Equipment Lease Terms
Unknown
Address Verification Service (AVS)
Unknown
Application Fee
N/A
Account Setup Fee
NA
Gateway Setup Fee
N/A
Annual Fee
N/A
Monthly Minimum
N/A
Statement Fee
N/A
Poynt does not operate based on contracts and terms with merchants or payment processors. The company offers hardware and software that is purchased by ISOs. Any contracts that the merchant enters into come directly from their payment processing company.
Contract Length
Unknown
Early Termination Fee
$0
There is no indication of how long it might take to get set up with Poynt software and/or hardware, but the company’s website does say that merchants can get set up within minutes. This is likely because the ISO will take care of the underwriting process, so that all that is left to do is to put the Poynt equipment or virtual gateway to work.
Poynt has a contact form on their website that offers a demo from a sales professional. They list a Help Center link and a link for their Resource Center. There is also a live chat feature on their website for quick customer service, but there is no phone number listed.
BBB Rating
Poynt currently has an A+ rating on the Better Business Bureau website, but the company is not accredited with the BBB.
Poynt received three complaints on the BBB website and two of them were resolved to the customers’ satisfaction within the last 12 months. All complaints were related to a problem with the company’s products or services.
Other Online Reviews
There are more than 30 negative reviews from Poynt customers that can be found online. The most common complaints are regarding persistent software and hardware issues, poor customer service and customers having difficulty setting up their systems. Many customers complained of experiencing device glitches that included slow-loading pages within just the first few months of using them.
There are no outstanding FTC complaints or class-action lawsuits for Poynt.
BBB
N/A
N/A
N/A
Yelp
N/A
Total Online Reviews
Unknown
Total Online Complaints
Unknown
Lawsuits
Unknown
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