iPayment POS System Review


iPayment is an experienced and reliable, premium point of sale (POS) processor that has been operated in collaboration with CreditCardProcessing.com and VeriFone ever since 1999. iPayment currently has a network of nearly two hundred thousand companies, which is quite large.

Presently located in Walnut Creek, California, their services are being resold by thousands of independent agents and sales offices on a daily basis. Some of the reasons why it’s one of the leading POS systems is because of no mandatory long-term contract, outstandingly reasonable fees and swipe rates, and its simple registration process.

How Lengthy Is Their Contract?

Ultimately, your experience with iPayment will begin with signing a contract with them, but you will not have to sign a long-term one, compared to what other companies make you sign. The duration of their contract is three years, and it gets renewed automatically. However, if they find you a better merchant, you could likely convince them into waiving the contract, which is something many processors are willing to do.

You may also terminate your contract early, but you will have to pay termination fees for it. The cost depends on how much time is left until your contract expires. For instance, if two years remain, you may have to pay $350.

What Fees & Rates Do iPayment Charge?

As mentioned, the fees and swipe rates that iPayment charges are comparatively quite reasonable. You will not have to pay any fee to sign up with them. While there is no monthly fee either, you will have to pay a minimum chargeback fee of $25 and a PCI non-action fee of $30 every month.

If you also wish to cover gateway payment through iPayment, you will also have to pay $9.95 every month. Additionally, they also charge $0.10 for every physical transaction, whether it is a debit card or a retail credit one, and also charge $0.29 for every online transaction.

What Types Of Payments Is iPayment Capable Of Processing?

Through iPayment, you will be able to process most types of payments that are common today. These include both credit and debit cards, EBT cards, gift cards, mobiles phones that have NFC, and several others.

You will also be able to process any type of card, and even cash and check sales will be effectively tracked. Furthermore, you will not have to worry about adhering to security regulations since you will receive an EMV chip and PIN card reader. However, you will only be able to process the payments through iPayment when using those card readers and software.

What Software Does iPayment Use?

Currently, the compatible software that you will receive from iPayment is Banq POS. Along with hardware system, you may also ask them for the iPad version of Banq POS. Several different management reports will be available to you through this software, such as employee performance reports. Even a CRM tool has been built into it, so you could acquire useful customer contact information that can be used for email and SMS marketing. You will also be able to take care of your accounting and sales tasks by using QuickBooks, which is a part of it too.

What Is Their Customer Service Like?

The BBB profile of iPayment currently has a rating of A+ which is excellent. There have been minor criticisms over the past few years, but they are constantly striving to improve their product and service.

As is the case with most payment processors, iPayment also assures and ensures 24/7 customer assistance and support. You may even seek remote assistance. They even have various departments to ensure that specific issues related to payment processing are resolved as effectively and promptly as possible.


It should be obvious that iPayment really is one of the leading POS processors today. Despite the cancellation fee, their contract is not too lengthy. You can process virtually any type of payment and take advantage of their useful software, while the customer service will also not disappoint.