VizyPay is a reasonably young payment processing company that is based in Iowa. It was founded in 2017 and processes its payments through First Data/Fiserv. The processor deals with standard-risk businesses based on a diverse range of industries. VizyPay offers hardware solutions from Clover, which is compatible with Fiserv. What sets the provider apart from its rivals is its alternative pricing structure, especially the cash discount program. This VizyPay review will go in-depth about the processor’s services, equipment, and setbacks.
Cash discounting is a feature where merchants can pass on their payment processing costs to their customers. Cash discounting programs are often complex and, therefore, hard to find in the payment industry. If clients feel cash discounting is not the right processing structure, the company also offers interchange-plus pricing. Read on for a review of whether VizyPay measures can match the processing giants of the payment industry.
Equipment Offered by VizyPay
As mentioned above, VizyPay is a reseller for Fiserv. This directly translates to VizyPay supporting Fiserv’s equipment on their website for payment processing. Fiserv offers hardware solutions by Clover, including the Clover Station POS and the Clover Go. Other than that, VizyPay also endorses equipment from Verifone, SwipeSimple and BLogic on their website. Below is the offered equipment and a brief review about the hardware;
- Clover Station
The Clover Station is a full-featured countertop point of sale system that suits the needs of almost all kinds of businesses. It comes with essential features built-in such as inventory management and credit and debit card processing. The device comes with a barcode scanner and essential hardware to handle credit card processing. Furthermore, the device comes with the Clover app store, where merchants can find applications that can streamline the device according to their business models.
- Clover Go
The Clover Go is a versatile option for taking payments on the go. The Clover Go comes in several varieties, from headphone jack models to ones that connect with Bluetooth. Their different variants are explicitly designed to handle various types of payments. You can get the basic card reader that only works with magstripe or EMV and NFC compatible versions based on your needs and budget.
If all you need is a primary mPOS terminal and the ability to accept payments through card-based methods, you don’t need to look further. The SwipeSimple card reader and smartphone application are more than capable of accepting payments through almost all types of cards; magstripe, dip, and EMV. You also access digital receipts, inventory management, and in-app reporting at a very feasible cost.
The BLogic POS system only requires a local connection to set you up with a stable payment processing system. Merchants can get two different POS kits from BLogic, one for generic businesses and another specialized for the restaurant business. BLogic POS kits offer various software solutions to enhance the transaction experience for both the customers and the merchants.
Services Offered by VizyPay
The core service offered by the provider is credit card processing. You will find all the information you need about their payment processing in this VizyPay review. VizyPay allows merchants to accept payments from all major credit card organizations through several payment options. Merchants can take payments in-person, through the phone or on the go using the mobile payment solutions offered by the provider. Some of the notable services by the provider are reviewed below;
As mentioned above, this alternative payment method is very popular based on merchant reviews. Cash discounting allows merchants to transfer their credit card processing costs onto their customers. VizyPay allows this by offering discounts on cash and debt-based transactions. This is an alternate solution to surcharging; Surcharges are when extra prices are tacked onto credit card payments only. Surcharging is illegal in some states of the U.S, and it is very unpopular with customers as well.
This is another feature tailored for the restaurant business. VizyPay allows online ordering of goods from the merchant from a platform called RUSH. The RUSH order app is customizable at the merchants’ end and combines all the aspects of online ordering into a feasible and easy to use application. And unlike many online ordering platforms, this doesn’t take a portion of the restaurant’s profits either.
Virtual terminals are a necessity for modern businesses, especially where online orders and orders over the phone are common. VizyPay’s virtual terminal allows merchants to take orders over the phone and even swiped or EMV transactions taken through a phone or tablet. The terminal offers complete reporting and allows recurring billing as well.
Negative Aspects of VizyPay
While the offerings and services of the provider are pretty robust, being a new processor with such transparent terms is not feasible. Naturally, the provider has to cut some corners to be profitable. So, let’s review the negative aspects of VizyPay;
Equipment Leases and Contract Terms
While they claim on their website that they do not lease equipment and offer a month-to-month contract, merchants should be careful. There are reports that there is a 60-days long built-in equipment lease in their agreement. This ultimately costs more than the equipment would up-front. Furthermore, there is a mention of a three-year contract in the internal program guide of VizyPay. If merchants are not careful, they can find themselves stuck in this loophole.
Not Suitable for High-Risk Merchants
As VizyPay is a relatively new provider, it does not have the processing ability to handle high-risk merchants. Suppose merchants manage to sign up, and later the processor detects high-risk transactions. In that case, the account may be subject to fund holds and account terminations.
Customer Care Issues
As the processor is relatively young, there are not many complaints. But amongst the few complaints found on the internet, the most common one is about customer support. Customer support plays a vital role in the overall experience of a merchant service provider.
VizyPay is a reseller of Fiserv’s services and offers services and hardware that merchants can get directly from Fiserv. While the reviews are mainly positive, it can be because the provider is fairly new. This VizyPay review covered all you need to know about the provider to make a sound decision. If you think the offerings above do not suit you, there are countless options in the payment industry to choose from.