Founded in 2000, Global Payments is a traditional merchant acquirer (old school payment processor) that is based in Atlanta, Georgia, but services businesses all over the world.
To get a quick sense of Global Payments’s reputation, merchants need only look at a few external ratings and reviews. Here’s how they stack up:
Part of that reason may be that Global Payments has been known for being less than forthcoming with their rates to business owners, which makes for some less-than-cozy relations down the road. Their merchants sign up for three year contracts, and cancellation fees can be as steep as $500 USD.
The company has also been known to use third party sales agencies in the past to sell their processing services, and these sales tactics could mean that “too good to be true” sales offerings are peddled to merchants who need to be convinced that Global Payments is the best processor out there, when in fact, their pricing is not very competitive, but we took a look at a recent Global Payments contract to give you a better idea of just what they charge merchants for. Read on to find out more.
Global Payments doesn’t disclose any pricing plans, contract terms, or rates on their website. This could mean they offer individual businesses rates which are tailored to how much they process annually or it could mean Global relies on their sales teams to make their rates seem appealing to potential customers.
A look at a recent Global Payments contract (downloadable link on their website) showed that the company charges a lot more than just processing fees. In fact, listed was a monthly PCI non-compliance fee and regulatory compliance fee, monthly statement fee, annual service fee, semi-annual postage fee, NSF fees, data monitoring fees (what even is that?) and a non-refundable chargeback fee in case of a chargeback.
Software & Hardware
Global gives you the basics, but does not meet the bar in 2021 for what merchants should expect from a payment processor; including robust software that’s built-in and exceptional customer service. Merchants are going to have to pay to use Global’s tools, which include a mobile payments app and virtual terminal, but as of right now, those tools lag behind more modern, software-driven payments companies.
Global offers merchants two types of hardware: the Register (complete POS) or Terminal Plus (essentially the same as the Clover Flex). The pricing on this hardware is not available online, so just be careful of getting caught up in a lease.
Putting merchants first. Making payments easier and more affordable. We are Helcim, and we’re changing the payments landscape one transaction at a time.
“After 4 years of using Global Payments, we decided to make the switch to Helcim after reading many positive reviews. I am so happy that we did. In our 1st month, we saved 50% in fees/service costs from what we were paying with Global Payments. Not only that, the customer service is amazing. We estimate that we will save between 6-8 thousand dollars this year on fees. If you run a business do yourself a favor and make the switch to Helcim.”
-Matthew Durka, Breakaway Sports Cards
4 Reasons to Choose Helcim
1. No Monthly Fee
At Helcim, we don’t charge a monthly fee to any of our merchants. You just pay processing fees—that’s it! As a small business owner, not having to worry about a monthly fee can not only save you money, but simply grant you peace of mind.
2. Helcim’s Tools Don’t Cost Extra
It’s not just the lower payment processing fees that you’ll benefit from. While Payment Depot charges extra for certain tools and features; with Helcim, merchants get full access to all of our software and tools at no charge. That means useful features like adding more users or devices, or sending unlimited invoices. You also get access to powerful tools that let you do things like create a fully hosted online store or securely store customer card information for recurring billing, and you’ll never pay extra for a single tool.
3. Helcim Point of Sale
One of the free tools included with your Helcim account is our POS software. Our software can not only integrate with certain POS hardware (if you’re thinking about switching and want to know if we can integrate, give us a call), it allows you to turn your tablet, phone, or desktop into your own POS system—no additional (expensive!) hardware required.
4. Our Customer Service Makes the Difference
To us, Better Payments doesn’t stop at just offering more affordable pricing and better tools. We are extremely proud of our knowledgeable in-house Merchant Success team who are available whenever you hit a bump on the road. Available by phone or email, they’re happy to help you better understand the sometimes complicated world of accepting payments, find a solution to help you grow your business, or answer any questions that might come up about our services or the payments industry in general. If you prefer self-service support, Helcim also offers a detailed support section with step by step tutorials and videos to help you get started.
Experience Better Payments
At Helcim, we’re on a mission to become the world’s most loved payments company, and that’s why we put our merchants first in everything we do. We work hard to over deliver in our software, hardware, and customer service offerings, while at the same time offering some of the most competitive pricing in the industry. If you’re tired of overpaying for credit card processing, or working with a processor that just doesn’t seem to care about you or your business, switch to Helcim and see the difference that having a payments company in your corner can make. We’ll be waiting to welcome you to the Helcim family with open arms!