GoPayment Review

Possessing an effective and dependable payment system is essential for achieving success. GoPayment, created by Intuit, is a mobile point-of-sale system aimed at streamlining payment processing for companies of any size. By smoothly integrating with QuickBooks, GoPayment aims to improve financial management and simplify operations. This review offers a detailed examination of GoPayment, including its features, pricing, usability, security, customer support, and alternatives, assisting you in deciding if it’s the suitable option for your business. Lets read more about GoPayment Review.

GoPayment’s primary focus is on delivering a user-friendly experience that aligns with the needs of modern businesses. It addresses common pain points such as manual data entry, delayed payment processing, and insufficient record-keeping by offering an integrated ecosystem for financial management. Businesses ranging from small retailers to service providers can leverage GoPayment’s tools to improve efficiency and customer satisfaction. Furthermore, its emphasis on portability makes it ideal for businesses on the move, such as food trucks, pop-up stores, and event-based vendors. With the growing need for cashless transactions, GoPayment empowers businesses to stay competitive in an increasingly digital economy.

Company Background | GoPayment Review

Intuit, the creator of GoPayment, is a well-known name in the financial software industry. Founded in 1983, the company has a robust portfolio that includes QuickBooks, TurboTax, and Mint. Intuit’s mission is to empower small businesses, freelancers, and individuals with tools that simplify financial management. GoPayment is an extension of this vision, designed to provide businesses with a portable and versatile payment solution that integrates seamlessly with other Intuit products.

Intuit is known for its long-standing reputation for innovation and solutions focused on customers. Throughout the years, the company has consistently adapted to the shifting needs of businesses, guaranteeing that its products stay pertinent in a dynamic marketplace. GoPayment demonstrates Intuit’s dedication to providing accessible, scalable, and efficient solutions designed for various industries. Its emphasis on preserving customer trust through strong support and adherence initiatives further reinforces its position as a dependable technology provider.

Features and Capabilities

Payment Processing

GoPayment supports a variety of payment methods, including:

Credit and Debit Cards: Both magnetic stripe and EMV chip cards are accepted. This ensures businesses can cater to customers using traditional card payment methods.

Contactless Payments: Customers have the option to pay with Apple Pay, Google Pay, and Samsung Pay, which greatly helps in minimizing transaction times and improving customer convenience. These techniques are gaining more popularity because of their rapidity and cleanliness advantages, especially in the aftermath of the pandemic. 

ACH Transfers: Bank-to-bank transfers are supported for high-value transactions, making it ideal for businesses dealing with large orders or repeat clients. ACH transfers offer cost-effective solutions for businesses compared to traditional credit card fees.

Invoicing: Users can send invoices directly from the app, enabling remote payment processing. This feature helps businesses maintain a steady cash flow and reduce payment delays, especially when dealing with clients who prefer invoiced transactions.

GoPayment’s payment processing features include support for recurring payments, making it a beneficial tool for subscription-based companies or those that provide installment options. The capability to handle recurring payments straight from the app minimizes administrative burden and guarantees prompt collection of payments. 

Integration with QuickBooks

One of GoPayment’s standout features is its seamless integration with QuickBooks. Payments processed through GoPayment are automatically recorded in QuickBooks, ensuring accurate financial records. This integration reduces manual data entry, minimizes errors, and simplifies tax preparation. Users benefit from having a unified platform for tracking income, expenses, and profitability.

The synchronization between GoPayment and QuickBooks provides real-time updates, essential for companies needing instant access to financial information. Moreover, this integration facilitates the creation of comprehensive financial reports, assisting in strategic decision-making. Business owners can seamlessly reconcile accounts, create profit and loss reports, and predict financial trends without toggling between various tools. This interrelation also aids companies in fulfilling compliance obligations by keeping records transparent and current. 

Mobile Application

The GoPayment app is compatible with both iOS and Android devices. Key functionalities include:

Sales Tracking: Monitor sales data in real time. This feature helps businesses identify trends and adjust strategies accordingly. For instance, retailers can use this data to identify best-selling products or peak sales hours.

Inventory Management: Monitor stock quantities and oversee inventory straight from the application. Companies can prevent stockouts or excess inventory by establishing alerts and tracking product performance. This feature is especially advantageous for companies with changing inventory requirements, like seasonal retailers or food service providers. 

Customer Management: Store customer information for personalized service. This includes creating customer profiles, tracking purchase histories, and offering tailored promotions. By leveraging customer data, businesses can implement loyalty programs and enhance customer retention.

The app’s user-friendly design guarantees a slight learning curve, allowing it to be accessible to individuals with different levels of technical skill. Its responsiveness and tidy design improve usability, ensuring that even employees unfamiliar with digital tools can use it easily. 

Hardware Options

GoPayment offers a range of hardware to meet different business needs:

QuickBooks Card Reader: A sleek, portable device that supports magnetic stripe, EMV chip, and contactless payments. The card reader is easy to set up and pairs seamlessly with the mobile app. Its compact design makes it convenient for businesses operating in tight spaces or on-the-go setups.

Peripherals: Compatibility with receipt printers, cash drawers, and barcode scanners for a complete POS setup. These peripherals enable businesses to create a professional and efficient checkout experience, similar to traditional retail environments.

The hardware is built to be sturdy and dependable, guaranteeing steady performance even in busy times. Companies may also choose to acquire extra hardware add-ons to improve the capabilities of their POS systems, including external battery packs to ensure continuous operation. 

Offline Mode

The offline mode ensures that businesses can continue accepting payments even without an internet connection. Transactions are securely stored and processed once connectivity is restored. This feature is particularly useful for businesses operating in areas with unreliable internet access or during outdoor events. Offline mode also provides an added layer of security by encrypting stored transaction data, ensuring it remains protected until it is transmitted.

Multi-User Access

GoPayment enables several users to use the app under a single account, making it ideal for companies with multiple employees managing payments. Business owners are able to assign roles and permissions, guaranteeing the protection of sensitive financial information. The multi-user capability allows for activity monitoring, helping business owners to oversee employee performance and avert unauthorized transactions.

Pricing Structure

Transaction Fees

GoPayment charges transaction fees based on the payment method:

Swiped/Dipped Transactions: 2.4% + $0.25 per transaction. These rates are competitive and align with industry standards.

Keyed-In Transactions: 3.4% + $0.25 per transaction. This slightly higher fee accounts for the increased risk of fraud associated with manually entered card details.

Invoice Payments: 2.9% + $0.25 per transaction. This option is ideal for businesses that primarily operate online or through remote invoicing.

The transparent pricing structure allows businesses to calculate costs easily and plan their budgets accordingly. Intuit’s lack of hidden fees ensures trust and reliability among users, making it easier to predict operational costs.

Monthly Fees

GoPayment does not require any compulsory monthly subscription fees. Nonetheless, companies utilizing advanced QuickBooks plans might face extra expenses. This adaptability makes GoPayment an appealing choice for startups or small businesses with constrained budgets. By removing subscription obstacles, Intuit enables businesses to increase usage in line with their growth, maintaining cost-effectiveness all along. 

Additional Charges

Other potential fees include:

Chargebacks: A fee for disputed transactions, which highlights the importance of maintaining accurate records and verifying customer details.

ACH Returns: Charges for failed ACH transfers, typically due to insufficient funds or incorrect account information.

Hardware Costs: The QuickBooks Card Reader is priced at $49, with optional accessories available for purchase. These one-time costs are reasonable and provide excellent value for the features offered.

Businesses can manage these additional costs effectively by leveraging the built-in tools within GoPayment to minimize errors and disputes.

Ease of Use

Setup Process

Getting started with GoPayment is straightforward:

1. Sign up for a GoPayment account.

2. Download the app on your mobile device.

3. Link your QuickBooks account for seamless integration.

4. Set up the QuickBooks Card Reader and other hardware.

Users indicate that the onboarding procedure is straightforward, featuring clear guidance and little technical knowledge needed. Intuit offers detailed guides and video tutorials to help newcomers. Moreover, customer support agents are ready to guide users through the installation process, guaranteeing a seamless transition. 

Daily Operations

The app’s user-friendly interface makes daily operations effortless. From processing payments to generating sales reports, GoPayment simplifies tasks for business owners and employees. Features like inventory tracking and customer management ensure that all essential operations can be handled within a single platform.

The app’s reliability and responsiveness also improve the user experience, guaranteeing seamless operations even at busy times. Users have lauded its capacity to manage significant transaction volumes seamlessly, rendering it ideal for busy retail settings. 

Security Measures

Compliance with PCI-DSS

GoPayment complies with the PCI-DSS, ensuring secure handling of payment data. This compliance demonstrates Intuit’s commitment to protecting customer information and reducing fraud risks.

Data Encryption

Every transaction is secured through sophisticated protocols, protecting confidential customer data from unauthorized access. This function offers reassurance to companies and their clients. Encryption technology also guarantees data integrity, stopping tampering or unauthorized changes. 

Fraud Prevention

GoPayment incorporates fraud prevention measures, including:

Address Verification Service: Verifies the billing address provided during transactions to ensure it matches the cardholder’s records.

Tokenization: Replaces sensitive card details with secure tokens, reducing the risk of data breaches.

These security features align with industry best practices, ensuring that businesses can maintain customer trust while mitigating risks associated with digital payments.

Customer Support

Availability and Channels

Intuit offers customer support through multiple channels:

Phone Support: Available during business hours, ensuring prompt assistance for urgent issues.

Email Support: For less urgent inquiries, with response times typically within 24 hours.

Live Chat: Provides instant assistance, making it a convenient option for troubleshooting.

Knowledge Base

The Intuit website hosts a comprehensive knowledge base with articles, tutorials, and FAQs to assist users with common issues. This self-service option is particularly useful for users who prefer to resolve issues independently.

User Feedback

Although numerous users commend the support team’s responsiveness, some mention varied service quality, especially during busy times. Intuit could resolve this by increasing its support staff and providing round-the-clock assistance. Furthermore, offering support in multiple languages could improve access for users who do not speak English. 

Pros and Cons

Advantages

Integration with QuickBooks: Streamlines financial management.

User-Friendly Interface: Intuitive design suitable for non-technical users.

Versatile Payment Options: Supports various payment methods.

Offline Mode: Ensures uninterrupted payment processing.

Disadvantages

QuickBooks Dependency: Full functionality requires a QuickBooks subscription.

Limited Advanced Features: Lacks some capabilities found in dedicated POS systems.

Customer Support Issues: Reports of inconsistent service quality.

Alternatives to GoPayment

Square

Square is a popular alternative offering robust POS features, including:

Free POS software.

Advanced inventory management.

Competitive transaction fees.

PayPal Here

PayPal Here is ideal for businesses already using PayPal:

Simple setup.

Integration with PayPal accounts.

Support for multiple currencies.

Stripe Terminal

Stripe Terminal caters to tech-savvy businesses:

Customizable POS solutions.

Transparent pricing.

Extensive developer tools.

Additional Features and Insights

Customization Options

GoPayment offers limited customization compared to competitors. While users can configure tax rates and discounts, the app lacks more advanced customization features such as branded receipts or tailored sales reports. However, these limitations are often outweighed by its ease of use and QuickBooks integration.

Scalability

GoPayment is ideal for small to medium enterprises. Bigger companies might view its features as limiting, especially regarding inventory control and reporting functions. For these businesses, incorporating GoPayment with external tools can offer extra features. 

Industry-Specific Use Cases

GoPayment’s versatility makes it ideal for various industries, including retail, food services, and professional services. However, businesses requiring extensive industry-specific features may need supplementary software or additional customization.

Conclusion

GoPayment is recognized as a dependable mobile POS option, especially for companies that are already using QuickBooks. Its smooth integration, intuitive interface, and attractive pricing position it as a formidable player in the mobile payment sector. Nonetheless, its dependence on QuickBooks and restricted advanced functionalities might not fit every business. In summary, GoPayment is a great option for small to medium enterprises looking for a simple and effective payment solution. 

Businesses should evaluate their specific needs, considering factors like transaction volume, required features, and existing software ecosystem, before committing to GoPayment. With its focus on simplicity and efficiency, GoPayment delivers significant value for its target audience.

Frequently Asked Questions

Is GoPayment compatible with devices outside the U.S.?

GoPayment is primarily designed for U.S.-based businesses. International compatibility may be limited, and users outside the U.S. should verify device and service availability in their region.

Can GoPayment process international currencies?

GoPayment supports transactions in U.S. dollars. Businesses requiring multi-currency support may need to explore alternatives like PayPal Here or Stripe.

What are the contract terms for GoPayment?

GoPayment does not require long-term contracts. Users can cancel the service at any time without penalties, providing flexibility for businesses.