Taking $3,000 per month or less in card payments?
You’ll save with Square
- Date Established
- Santa Barbara, CA
- Transparent cost-plus pricing
- Month-to-month agreement
- Few public complaints
- Free gateway
- eCheck processing offered
- PCI-compliant solution
- Volume discounts available for established businesses
- A monthly fee for lower-volume merchants
- Not global-friendly
- Not suitable for high-risk industries
We are now nearly two decades into the twenty-first century, yet we still find ourselves regularly signing paper receipts. We know that paper receipts waste resources, they degrade, and they’re inconvenient to organize and retrieve. Plus, they’re coated in BPA, a known health risk. Yet paper receipts are still needlessly abundant in our lives.
Enter PayJunction and its promise of paperless payments.
With PayJunction’s unique suite of products and services, merchants can organize their sales data, eliminate paper-based inefficiencies, reduce risk, broaden customer payment options, and eliminate the need for a traditional credit card terminal. This can save you time, boost your profits, and streamline your business practices. Add to this PayJunction’s competitive rate matching and stellar customer service, and it all amounts to one rock-solid credit card processor and merchant account provider.
The suite of services hinges on the PayJunction payment gateway, which also serves as a basic POS for both card-present and card-not-present interactions, including credit, debit, and ACH (check) payments. You won’t need a traditional credit card machine at all with the USB card reader and e-signature pad compatibility (but you can get a Smart Terminal instead if you prefer). The computer system logs all of your transactions, so kiss those anachronistic receipt bundles goodbye!
PayJunction’s software also allows customers to sign for emailed orders, adding another level of security and chargeback protection. PayJunction’s mobile app handles mobile processing, along with providing a basic hosted shopping cart at no added cost. What’s more, PayJunction’s reputation for exceptional customer service and support truly stands out in this industry. PayJunction has been in business since 2000, yet finding substantial complaints against them is nearly impossible. The company’s unique service, high-quality customer support, and honest marketing continue to impress us.
Due to all this and more, we give PayJunction a score of five stars. Check them out and see for yourself!
Table of Contents
Products & Services
PayJunction is focused on electronic payments and has a solid set of developer tools. With Smart Terminals, recurring billing, and remote signature tools, PayJunction is a great option for online businesses and anyone else who accepts payments in non-traditional settings. It certainly isn’t bad for traditional retailers, but it offers a particularly nice set of services to tech-driven businesses.
Let’s run through what PayJunction has to offer.
- Credit, Debit, & Check Payment Processing: You can accept payments in-store or remotely using the PayJunction system.
- Payment Gateway: PayJunction’s proprietary gateway (once branded as Trinity Gateway) includes access to an all-purpose virtual terminal (compatible with a USB card reader, making it a functional POS) as well as recurring billing and customer info vault features. It amounts to a solid browser-based check and credit card processing system for both card-present and card-not-present sales, with no credit card machine or paper filing required.
- Electronic & Email Signature Capture: This, along with PayJunction’s gateway, make up the essential elements of its “Paperless Processing” system, which requires minimal hardware and setup expense. By collecting signatures on an electronic signature pad in-store, you eliminate the need to save signed receipt copies. PayJunction’s reporting system stores all signature data for easy access. Email signature collection (customers sign with their cursor) adds security to card-not-present transactions or agreements.
- Smart Terminal: For businesses with a physical storefront (or office), PayJunction offers a future-proof, everything-ready Smart Terminal that accommodates EMV and NFC transactions. Along with electronic signature capture and paperless emailed receipts, PayJunction promises the Smart Terminal has processing speeds 4X faster (the company claims an average of 3.6 seconds per transaction) than what competing terminals provide. A free Smart Terminal may be available if you can provide two months of existing billing statements to prove your processing volume.
- Mobile Processing: PayJunction now sports its own branded mobile app for mobile payment processing. Only available to existing PayJunction customers, this free app works on all iOS devices (unfortunately, there is no Android app). We like the fact that you can use the app to email receipts to your customers for them to sign remotely.
- Call-In Processing: No smartphone? No problem. You can call a transaction in through an automated system for low-tech mobile transactions.
- ACH Processing: If you hate the idea of having to drive to the bank to process your customers’ checks, you’re in luck; PayJunction offers ACH check processing at a rate of 0.75% with no monthly fee. You’ll enter your check-wielding customers’ checking account information once, and the system stores it for future payments. All ACH payments are encrypted to protect your customers’ data.
- One-Click Refunds: Issuing refunds can be time-consuming and inconvenient. That’s not the case with PayJunction. Their system allows you to search past transactions by date, amount, name, or invoice number. Once you find the transaction in question, you can issue a refund with just a click. You won’t need to call your customer for their credit card number or require your customer to bring their receipt back to you.
- Enterprise-Level Merchant Services: Is yours an enterprise-level business? If so, PayJunction gives you the ability to streamline your operations across multiple locations, merging your merchant accounts under one login to simplify your access to pertinent information. Generate automated reports comparing departments or locations, track deposits to multiple bank accounts, restrict or grant access by location/department, and customize forms and receipts to meet your needs.
- Free Hosted Checkout: PayJunction gives you two eCommerce options. PayJunction’s Hosted Checkout is nothing too fancy, but it’s simple to set up and will get the job done for many businesses. You can also integrate with 80+ third-party shopping carts.
- Developer Tools: PayJunction provides a “full-stack” API that delivers both versatility and ease of use.
- Next-Day Deposits: This feature is available for qualifying business types.
Fees & Rates
I love that PayJunction uses interchange-plus with absolutely no other fees (aside from network fees, of course). This means you have no monthly fee, PCI fees, monthly minimums, gateway fees, etc. But be aware that if you process under $10K monthly, a $35 monthly fee applies.
My one complaint is that its baseline percentage markup is a little high at 0.75%. Yes, you save some money by not paying a monthly fee, but that’s only saving you maybe $30 per month. However, the other thing to consider is that no per-transaction fee markup applies, which could contribute to substantial savings, especially for small-ticket sellers. Also note, this rate will only apply to businesses without a processing history.
However, if you do have a processing history, PayJunction will match or beat your current rates. You won’t have to worry about paying more when you switch. It’s good to see this advertised. While pretty much any processor will be willing to match your current rates to win your business, PayJunction seems to be more transparent about its comparisons than the average provider.
The advertised rate and fee details include:
- Cards: Interchange + 0.75%, no per-transaction markup
- Checks: 0.75%, no per-transaction markup
- Monthly: No additional charge, or $35 for businesses doing under $10K monthly
- Annual: No additional charge
- PCI: No additional charge
- Gateway: No additional charge
Some Math On PayJunction:
Before we dismiss the 0.75% markup as expensive, consider the following.
A solid markup for a business doing $12K per month in card-not-present sales might be 0.30% + $0.15, with a monthly fee of $20 (no PCI, no gateway fee). If that business had an average ticket of $50, they would pay the following with a good provider:
- $36 in markup percentage
- $36 in per-transaction markup
- $20 in monthly fees
This is $92 total markup over interchange and is a good value!
With PayJunction, the same account would cost:
- $84 in markup cost
That’s it! Keep in mind that the larger your average ticket is and the more you process per month, the more this will rise above the comparison point. Still, it is a solid deal, even if you don’t have a processing history.
If you’re new to the complex world of payment processor pricing, check out our complete guide to credit card processing rates and fees.
Sales & Advertising Transparency
We stand impressed by PayJunction’s marketing efforts. The company goes above and beyond the norm. The information on PayJunction’s site correctly describes interchange and interchange-plus pricing, which is its primary pricing model. Likewise, they seem to make good on the price matching system. Merchants with a processing history can submit two months of processing statements to secure a rate equal to or better than what they currently pay.
While some merchants may be wary of handing over processing statements, this serves an important purpose. First, it proves to PayJunction that you are processing the volume you say you are. With this added confidence, they can guarantee you the lowest rates possible instead of giving you a more conservative estimate. It also allows them to see where you may have been overcharged so that they can explain to you the rationale behind the pricing quote they provide.
We are generally wary of “rate-match” gimmicks, but in this case, PayJunction isn’t promising to hand over large sums of money if it can’t beat your rate. (Those are pretty much always a lie.) It’s just using the information to get you a fair deal based on your existing volume.
Contract Length & Early Termination Fee
Your contract with PayJunction is completely month-to-month — no cancellation or early termination fees to worry about whatsoever.
Customer Service & Technical Support
PayJunction provides outstanding customer service by all accounts. It’s very rare to see a company that has not only virtually no complaints about customer service but also a fair amount of public praise. PayJunction’s account representatives don’t just set up your account; they are also available to help you throughout. They bring the local experience to remote accounts. We love to see that!
You’ll find a moderate amount of self-service support features, including a good-sized knowledgebase and some useful tutorial videos. If you’re the type who likes to work things out yourself instead of getting on the phone, you can do so without any trouble. Standard email-based ticket support is offered as well as remote support. With remote support, you give a service representative remote access to your computer so that they can either walk you through something or take care of an issue for you. This level of support is a really nice touch!
In rare instances of public complaints, PayJunction representatives act swiftly and thoroughly to make things right or provide a thoughtful explanation. The company goes well above and beyond what we’re used to seeing.
Negative Reviews & Complaints
Negative reviews and complaints against PayJunction are practically non-existent. They have no complaints whatsoever at the BBB over the last three years. That’s an astoundingly good track record for a business of this type, age, and size. It tells you that PayJunction handles nearly every single complaint in-house swiftly and thoroughly. Of the very small number of complaints you’ll find online, every single one is addressed in-depth by a PayJunction representative. There are no complaints on Ripoff Reports, Complaints Board, or any other popular consumer protection sites.
My one “complaint” might be that it is somewhat expensive for low-volume businesses. It’s not exactly a complaint, though. PayJunction provides a unique system and exceptional support, far beyond what most low-volume businesses are likely to need. What’s more, remember that if you are already processing payments, PayJunction is willing to match your current rates and fees.
Positive Reviews & Testimonials
There are a dozen testimonial videos on PayJunction’s customer profiles page. All seem wholly genuine and give glowing praise. These customers seem especially satisfied with:
- Ease Of Reporting: PayJunction’s selling point is its “paperless” processing system. Merchants used to saving signed receipt copies and having no digital record of sales are thrilled to have all information saved electronically, providing easy access and digital reports.
- The Sales Experience: Many of the business owners interviewed cited the attitude of the sales reps as a positive. Most merchants have heard every credit card processing sales pitch in the book by the end of their first year in business, so it means a lot that multiple business owners felt the PayJunction sales experience was straightforward and honest.
- Customer Service: A large number of users, both in the official videos and across the web, give high praise to PayJunction’s customer service. Dedicated representatives know your business and provide intensive help when needed.
PayJunction advertises paperless payments and delivers on its promise. Business owners looking to increase efficiency and get organized would be well advised to check out PayJunction. Savings come not only from competitive rates but also reduced risk, broadened customer payment options, and eliminating the need for a traditional credit card terminal. PayJunction helps you streamline your processes to save valuable time — your time, your staffs’ time, and your customers’ time.
New businesses with no processing history may be stuck paying the 0.75% + $0.00 markup, which is a bit on the high side, especially for larger tickets. And if you are processing under $10K per month, you’ll have to pay a $35 monthly fee as well. For low-volume merchants and new businesses with no processing history, PayJunction may be more than you need, plus there are cheaper options out there for you. However, if you plan to do over $10K per month but don’t have an established processing history, you can sign on and then request a rate review after a few months once you’ve proven your volume. For businesses with a processing history, PayJunction will match or beat your current rates.
Regardless of your business, PayJunction provides tangible benefits beyond what you’ll find at cookie-cutter merchant account providers, so we recommend weighing the benefits against any potential expenses. With features such as integrated ACH processing, free Hosted Checkout, free Smart Terminals, integrated reporting, and a versatile gateway, not to mention exceptional customer support, there are numerous reasons to choose PayJunction. I see no reason to give them anything less than five stars.
To learn more about how we score our reviews, see our Credit Card Processor Rating Criteria.