My first encounter with Payfirma was at a tech event. Their CEO, Michael Gokturk, talked about how their company helps people to build dreams, being authentic, thinking big at Payfirma. He finished his talk with ” if we inspired you, come and inspire us”.
I actually used their services for some time. The statements come in from First Data actually, that’s a company located in Mississauga, Ontario.
They are pretty good and they have nice customer service. They even had a $100 promotion VISA card to join and there is a referral program too. Their ethics are much better than of some previous horror stories I’ve got from previous providers. They really care to keep their customers.
One thing though that sort of didn’t make sense was that they charged interchange fees on some premium cards and I had no way of knowing that upfront. I even asked if they could tell me at least which specific transactions had those fees (which they should be able to, otherwise, they wouldn’t be able to calculate them), but I was told that they can’t.
Rates that are charged are reasonable, but there is a small monthly fee. So if you are doing a lot of transactions, that’s good. However, since business to business transactions often involve premium credit cards, account for the possibility of those interchange fees.
The software itself needs some tweaks. It is not acceptable in my industry to ask for tips, but my clients every time would get a receipt on it stating “TIP – $0.00”, thus maybe hinting to them that they should have tipped me. I mean, tips in certain industries are not at all normal, so I’d rather have that taken out, but even though I addressed it, it still remained like that.
The best thing about this company is that there is no contract! Yes, that’s amazing. Contracts are terrible because their cancellation fees are usually very high.
My business is sort of seasonal, I may come back to Payfirma if I don’t find anything else to accommodate the seasonality of my transactions. In general I recommend their services, especially if you’d like to have a live person on the phone.
Their main competition in my opinion would be Square and Northpay.