Review Snapshot

smart phone compatible products are emphasized, they offer an overall easy cc payment option for your business


ask if there are any circumstances in which a termination fee would apply


overall Paynet Systems is a great all-in-one option for merchants accepting credit card payments!

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Casey Dalton : I write reviews of products I deem worthy of review. Generally if I'm reviewing...Member Reputation 335 • 69 active Krits
Paynet Systems from
Paynet Card Payment Authorization Made Easy
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Paynet REVIEW- Card Payment Authorization made easy

Why Paynet?

A Merchant Select "Top 5 Industry Leader" for credit card processing, what jumped out at me as I researched Paynet Systems is their emphasis on smart phone compatibility. Especially appealing was the mobile credit card reader and the Bamboo P25-M for iphone, which is a super lightweight swiper and printer that connects to your iphone so you don't need to hand it over to your customer to capture their info. It's also a big timesaver and we all know smooth transactions = better conversions.

Also very cool is the Virtual Terminal which is perfect for any businesses that accept credit card payment by phone, fax or email. It includes comprehensive transaction management and reporting features to help improve your business management.

Another feature that stood out to me is that they have excellent accountability for their live chat system. They use liveperson which is an independent 3rd party system enabling customers to rate the kind of support they are receiving. Paynet Systems ranks a 4.5 out of 5 stars. I find it impressive when a company is willing to risk independent evaluations they can't filter. It says a lot about the pride they take in their product and their integrity as a company.

What's the Skinny?

As i researched unbiased user experiences, I came across a few very disgruntled former paynet users but otherwise the reviews were generally favorable. There are several challenges with finding truly unbiased reviews about merchant card payment authorization systems. By it's nature this is not a warm fuzzy or particularly stimulating trade. It's all about numbers, data and ease of use. So even if the product is working very well, you're unlikely to see satisfied customers racing to forums to hype it. It's kind of like bragging about the concrete in the foundation of your house. What you will see is either people who are furious because a technicality in the contract put a wrench in running their business smoothly (which can happen with any cc processing company) or you'll see people touting the company who are affiliated with it in some way. They have drunk the kool-aid. I am included in this category, to be frank. That said, I would steer you to another company if I felt Paynet's quality was compromised. My goal is to help people thrive in their business by providing useful information about the companies they are researching for themselves.

What kind of complaints?

As an example, the one big complaint I found was a guy with a couple of businesses who had gotten the cc swiper for one business and then used it for his other business in a way that was not in compliance with Paynet's contract. I can see this situation from both sides. When you're trying to run a few businesses you're already juggling a lot. It probably did not even occur to this guy there would be an issue. Come tax time if he's filing as an individual he probably sees his earnings as all being generated by one source... him! He also probably did not take the time to read all the fine print. If he had, he might have understood that the sales spike he got for one of his businesses would trigger a protective measure within Paynet, similar to what happens with your cc company if they suddenly start seeing lots of charges to your personal credit card. This was Paynet's rebuttal to him. They go into fraud protection mode which can be extremely inconvenient to the merchant but it's ultimately designed to protect. So this guy was double whammy'd and as a consequence his money got held up at Paynet for 6 months. That's extremely aggravating!! So I can totally relate to this guy because I personally hate needle-nosed rules and regs... it's not my style. However all these companies operate the same way. Ultimately, your money is at stake and they are assuming liability for it, with the banks. So while I find it annoying and in his case genuinely unfortunate, it doesn't have a significant impact on my opinion of Paynet Systems because I'm looking at the whole picture. Where money is at stake, protective measures need to be in place and sometimes the rules designed to protect interfere with the way your business operates.

So how do you draw a conclusion?

Bottom line, it's best to take a cross section and look at the overall percent of positive vs. negative reviews. You want to get a clear picture of how many complaints there are vs. how conscientious the company is about maintaining a positive presence on the web. Based on this, combined with their use of Liveperson for their chat system which leaves no place to hide, in my opinion Paynet's efforts as a company are genuine and they offer a quality service.

What are their rates?

They advertise their monthly fee for any account as just $10 with a 1.59 % swipe rate and .25 cents per transaction. There's no set up fee. They also offer to beat your current rate for cc transactions or pay you $200 and they provide their cc machine app free, using their own PCI compliant processing gateway instead of relying on third party gateway services like or Paypal. What you need to know though, is that those advertised rates are generally not accurate because the true rates depend on conditions unique to you, like your sales volume, credit rating and negotiating skills! To read more on that check out my article where I go in depth on negotiating terms with merchant service providers.

To check out Paynet Systems for yourself, click on the link connected to this article. Their mobile swipe devices are usually $89 but they're running an offer right now to get it for free if you mention the promo code: Paynet 25. It's a great offer so I'm not sure how long that will last. 

Date Reviewed: February 17, 2012, 8:50 am
Reviewed by Casey Dalton
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Reviewer has never tested this product, all content in this review is purely based on speculation and should be treated as entertainment only.

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