SpotOn Review

Rates and Fees
Truth in Advertising
Consumer Reviews
Customer Support

Best for

SpotOn caters to standard-risk small and medium-sized businesses in the hospitality and restaurant industries.

Specializes in

SpotOn Transact is a payments processor and software company offering a suite of products to simplify operations for small and mid-sized businesses in the restaurant and hospitality sectors. SpotOn offers merchant account services, Point-of-Sale systems, and tertiary services such as payroll, website development hosting, and marketing services.

Pricing Summary

Setup Fee: Variable

Monthly Fee: $25

Swipe Rate: 1.99% + $0.20

Keyed-in Rate:  2.99% + $0.20

Early Termination Fee : $0

Contract Terms:

Visit SpotOn

SpotOn caters to the restaurant, hospitality, and services sector offering standard-risk businesses payment processing services via virtual terminals, point-of-sale systems, mobile card readers, etc. SpotOn is a registered ISO/MSP of Merrick Bank of South Jordan, Utah.

SpotOn Overview


SpotOn Transact is a San Francisco, California-based company founded by serial entrepreneurs Matthew and Zachary Hyman in 2017. The brothers' last venture was also a payment processor, Central Payment Corporation, which they sold to TSYS.

SpotOn had funding rounds completed from very high profile investors such as Dick Costolo's 01 Advisors, EPIQ Capital Group, Dragoneer Investment Group, and Franklin Templeton. The company has had numerous high profile investments and has gained prominence for taking on specific high-profile digital payment processors. The company looks to use the funding to ramp up hiring and build out the company's products and continue to grow their revenue and the customer base.

The company still has room to improve its customer experience capabilities as it has limited options to reach out to the company's cnt services team.lie Most of the complaints against SpotOn are for billing issues merchants were unable to resolve with the company. Nonetheless, SpotOn has looked to answer and resolve these complaints and took action to remedy the root causes. The company continues to serve merchants as a one-stop-shop with modular and a la carte pricing.

Quick Facts

Head Quarters

San Francisco, CA

Year Founded



Zachary and Matthew Hyman



Merchant Provider Risk Tolerance

What We Like

What We Don't Like

Industries Served

  • Accounting & Tax Prep
  • Clothing & Apparel
  • Convenience Store
  • Education
  • Educational Seminars
  • Electronics
  • Gaming
  • Gas Station
  • Healthcare
  • Hosting
  • Marketing Agency
  • Medical
  • Personal Service
  • Property Management
  • Restaurant / Bar
  • SAAS
  • SEO & SEM Services
  • Thrift Store
  • Web Design Services

Business Types Served

  • Ecommerce
  • Mom & Pop
  • Retail / Card Present
  • Small Business

SpotOn Products & Services


SpotOn looks to serve as a one-stop-shop for merchants. The company offers a payment processing service, POS systems, and tertiary services such as marketing, loyalty program, customer reviews, appointment setting and order taking tools, website development and hosting, virtual terminals, and payroll administration.

POS systems – SpotOn has various POS options, including mobile card readers, registers, and different payment devices.

SpotOn also aims to create an ecosystem with its app, which is available to download for merchants and consumers. Consumers can use the app to get alerts of specific discounts and deals. Merchants can benefit by using the app for customer engagement, offering discounts, a loyalty program, and easily integrating appointments.

SpotOn Payment Processing

  • Contactless NFC
  • Credit Card Processing
  • Credit Card Terminals
  • Debit Card Processing
  • Gift & Loyalty Program
  • Mobile Card Reader
  • Mobile Commerce
  • Mobile Payments App
  • Payment Gateway
  • Virtual Terminal

SpotOn Billing & Invoicing

  • Mobile Payments
  • Payment Processing

SpotOn Advertising & Sales

SpotOn lists an option for custom pricing, alluding to the fact that the company's sales team has some leeway in setting prices. In that case, unless one aggressively negotiates down rates, the sales team is incentivized to price at a higher rate for higher commissions. Therefore, their pricing isn't as transparent nor as competitive as the company may suggest.

SpotOn Transact received an "A+" rating from the BBB, which accredited it in 2018. The BBB has received 13 complaints against SpotOn in the last three years, seven of which are from the previous 12 months. Most complaints are regarding billing issues that merchants haven't able to resolve with the company. To SpotOn's credit, all claims have either been answered or resolved.

The company does not seem to be using any deceptive sales or advertising tactics. However, there were complaints with the BBB about its sales staff overpromising and then changing terms after the merchant ended the agreement with a termination fee with another payment processor. SpotOn has made headway with these issues as the company does not use independent sales agents anymore and only uses an inside sales team.

Truth in Marketing

Discloses All Important Terms

Public Pricing Available

SpotOn Pricing, Rates & Fees


Spoton mentions that it does not have any hidden charges or a long-term contract. It seems that the client does have a month-to-month billing option for merchants with the breakout of services as follows;

SpotOn's payment processing rates:

1.99% + $0.20/ swiped transaction

2.99% + $0.20/ corporate, international, AMEX, or keyed card transaction

The caveated for these rates is that other interchange categories or card types may be applicable

Platform Rates:

SpotOn with Payments – $25/month + 0.10% – The company waives the additional 0.10% monthly surcharge in the first year. This plan includes services for marketing, reviews management, and payment analytics.

Merchants can add additional services a la carte such as loyalty program, appointment management, and Website development and host at $65/ add-on.

SpotOn Software Only – $195/month – This plan includes packages services for marketing, reviews management, loyalty program, appointments management, and Website development and hosting. The package does not include payment analytics.

The pricing does not include any equipment that merchants purchase.

Pricing at a Glance

Pricing Model

Swiped Rate

1.99% + $0.20

Keyed-in Rate

2.99% + $0.20

Mobile Payment Rate

Virtual Terminal Rate

Monthly Fee


Payment Gateway Fee

Batch Fee

Early Termination Fee


PCI Compliance Fee

Equipment Lease Terms

Address Verification Service (AVS)

Application Fee

Account Setup Fee


Gateway Setup Fee

Annual Fee

Monthly Minimum

Statement Fee

SpotOn Contract & Terms

SpotOn asserts that it has "no long-term contract," indicating that it only offers month-to-month billing. SpotOn's Pricing page shows a "Preferred Payment Processing Rate Program" and a "Custom Payment Processing Rate," which proposes to either match or beat competitor rates. It appears that rates may vary based on how merchants decide to request SpotOn services, with a competitor bid or not. Furthermore, it seems that the SpotOn Sales team holds some sway in negotiating rates to a certain degree. In that case, sales teams may resort to a higher price for higher commissions, if not negotiated down.

Contract Length


Early Termination Fee


SpotOn Setup & Support


Setup Highlights

Support Highlights

SpotOn Complaints, Ratings & Reviews

SpotOn has an A+ rating with the Better Business Bureau (BBB). The company had 13 complaints filed with the BBB in the last three years, seven in the previous year. SpotOn has been accredited with the BBB since 2018. Most complaints are regarding difficulties in resolving billing issues and seem to be further evidence of their lacking support.








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