PayTrace Review

PayTrace Summary

PayTrace is a payment provider headquartered in Spokane, Washington. The company was established in 2004. Credit card processing is their business. The company currently has more than 35,000 customers. PayTrace focuses on their payment gateway and serving merchants in the United States. PayTrace’s payment gateway is their key item. The firm doesn’t offer merchant equipment (E.g. terminals, card readers, and so on)– you’ll need to go to a 3rd party for those points.

ProductWho uses this?Product DescriptionBenefit
Virtual TerminalWholesale and B2B companies and some retailReceive customer payments with your computerYou just use your computer and you don't need to buy a lot of POS equipment
Shopping CartCompanies who sell on the internetReceive payments in your websiteThere are many features in the shopping cart including product catalogue, tax and more.
Mobile PaymentsA mobile business that has Apple™ and or Android™ devicesReceive payments on your phone or tabletMobility

With PayTrace you’ll be able to receive payments on all major charge cards, including of Visa, MasterCard, Discover, American Express, Diner’s Club, and also JCB. Credit card processing is fully offered with all major credit cards

PayTrace focuses on B2B transactions. They also do retail businesses. To buy from PayTrace you’ll need to contact a reseller. They offer card processing and enable you to receive payments via credit card.

Countries Served

The United States is their only market. International availability will certainly rely on whether your vendor account carrier uses service in your country. As they offer card processing and enable you to receive payments via credit card the US market makes sense. Other countries can require payment methods other than credit card.

Services and products

The PayTrace payment gateway comes with numerous typical and also optional features, including the following:

Payment gateway

The PayTrace payment portal is the company’s main item. You’ll should obtain a merchant account from a third-party company to utilize it.
Virtual terminal. PayTrace’s portal consists of a virtual terminal, which enables you to access your account from your computer system. When incorporated with a USB-connected card visitor, you could likewise refine card-present transactions precisely your computer. The PayTrace virtual terminal works with the adhering to card readers: the MagTek Mini USB, MagTek Sure Swipe USB, MagTek Mini Wedge, MagTek Dynamag USB Keyboard Emulation, and ID Tech MiniMag 2 USB. Note that PayTrace does not market any one of these readers directly. The could be gotten for a reasonable cost online.

Mobile settlements

If you want to turn your smart device into a portable bank card reader, PayTrace has you covered. Their PayTrace GO application is offered for both iphone and also Android. In addition to the app, you’ll additionally require either a MagTek uDynamo or iDynamo card reader. The uDynamo attaches with a headphone jack, while the iDynamo attaches with the Apple Lightning port, making it an excellent selection for apple iphone 7 users. Both card viewers are magstripe-only. Ideally, they will soon work with the MagTek eDynamo card viewers, which can take EMV chip cards and also magstripe. The eDynamo could likewise link by means of Bluetooth or USB, making it a great choice for use with the virtual terminal as well as mobile devices. Inning accordance with the PayTrace internet site, an EMV solution remains in advancement and also needs to be released during the fourth quarter of 2016. Considered that it’s currently late December, it looks like the launch will be delayed right into 2017.

Pre-integrated shopping carts

Their gateway is currently pre-integrated with a variety of online shopping carts, including Magento, 3dcart, as well as many others.

Stored client profiles

It includes the capacity to save consumer information such as payment addresses as well as payment approaches in a safe data source. With this feature, repeat consumers do not have to re-enter their details when placing an order. Saved customer profiles are only available under the company’s Pro rates plan.

Subscription payments

If you’re billing consumers under a membership plan, you’ll need this optional attribute. Payments can be established to repeat on an annual, quarterly, regular monthly, bi-weekly, once a week, or daily basis. Repeating billing is only available under PayTrace’s Pro Plan.
Protection functions. PayTrace includes several security and fraud protection functions in their Basic, Pro, and Cash Advance rates strategies. All information is encrypted and also kept in secure information centers, not on your computer or network. PayTrace utilizes SSL encryption as well as meets Level I PCI criteria.
Developer features. If you’re on PayTrace’s Pro plan, you’ll have access to a wide array of APIs and developer tools, including combinations with 45 different independent software application suppliers. These combinations consist of going shopping carts, invoicing, inventory administration, as well as much more.
PayTrace additionally supplies eCheck handling for sellers that require it. This is an optional attribute offered under the Pro pricing strategy only.
As noted over, PayTrace does not supply seller accounts with their solution. Rather, you’ll need to join a partner merchant account service provider and consist of the PayTrace entrance with your account.

Costs and also Rates

On PayTrace’s internet site, you’ll discover 3 different package strategies to choose from. The Basic strategy is planned for small eCommerce organisations. The Pro plan can fit larger on the internet organisations, but is likewise customized to the requirements of B2B vendors. Lastly, the Cash Advance strategy is a customized strategy that’s just available to qualified banks. PayTrace doesn’t disclose any pricing info on its site, so you could anticipate that expenses will certainly differ depending on which vendor account carrier you join to get the PayTrace entrance. Nevertheless, we’ve discovered some pricing disclosures that ought to offer you a great idea of just what charges as well as prices you’ll pay:
Fundamental Plan:
$ 0.00 account arrangement fee
$ 15.00 monthly digital terminal/gateway charge
$ 0.30 per-transaction handling cost (note that this remains in addition to whatever your seller account company costs you for processing a transaction).
Pro Plan:.
$ 75.00 account arrangement cost.
$ 20.00 each month digital terminal/gateway cost.
$ 0.10 per-transaction processing fee (again, this is on top of whatever your vendor account provider charges you for processing a purchase).
The complying with optional functions are likewise offered if you require them:.
ACH eCheck handling: $15.00 per month (Pro plan just).
Pre-integrated shopping cart fee: $15.00 each month (Pro plan just).
Repeating payments charge: $5.00 monthly (Pro plan just).
The PayTrace GO mobile payments app is readily available under both the Basic as well as Pro plans. While PayTrace will rent you an encrypted card visitor for $40.00 annually, we extremely recommend that you buy your card viewers outright– you’ll conserve cash as well as migraines in the future.
You ought to additionally keep in mind that while you can refine Level II bank card information under either plan, you’ll need to register for the Pro strategy to process Level III card data and also get approved for the lower interchange rates. These reduced rates save you regarding 0.5% generally.
PayTrace does not bill for things like PCI conformity or chargebacks. Your merchant account company, however, normally will charge you for these points, so examine your contract documents thoroughly so you recognize what you’ll be paying for and that’s charging you for every particular cost.

Contract Length and Early Termination Fee

PayTrace bills their solutions on a month-to-month basis. There’s no long-lasting agreement and no very early discontinuation cost for shutting your account early. Nevertheless, your merchant account provider definitely could require a long-lasting contract, generally 3 years with an automated renewal condition that renews the contract for succeeding one-year durations. Seller account service providers that require prolonged agreements additionally typically charge an early discontinuation fee if you shut your account without correct notice and prior to the end of your contract. This cost normally averages around $500, however it could likewise be substantially much more in some conditions.
The good news is that a growing number of carriers are starting to get rid of the very early termination fee and also costs on a month-to-month basis. Even providers that include a very early termination clause as a common arrangement of their contracts are frequently going to waive it if you work out as well as demand it. In all instances, you definitely must read your entire contract prior to you subscribe, as sales representatives (specifically independent representatives) will not always be straightforward with you concerning these terms. You can (and need to) also review PayTrace’s Terms and also Conditions also.

Customer Service as well as Technical Support

PayTrace’s client service is given largely by telephone and also is available from 7:00 AM up until 7:00 PM, Monday with Friday. While this isn’t really rather comparable to true 24/7 protection, the truth is that the majority of after-hours customer support is contracted out, as well as you frequently won’t get a service representative who has the training as well as authority to solve intricate issues outside of regular business hrs. With PayTrace, you’ll be talking straight to a firm employee who’s very educated concerning the ins and also outs of the payment gateway and can provide first-class support in solving technical concerns.
PayTrace likewise provides assistance with e-mail, with a promise to react within 24 hours. This is most likely a far better opportunity for fixing fast issues when telephone assistance isn’t offered.
PayTrace additionally offers a different internet site for their online knowledgebase and also help section. The PayTrace Help Documentation website is one of the most remarkable self-help resource I’ve attended day from any type of payment portal service provider. PayTrace has done an exceptional task below, supplying extensive item paperwork, training video clips, and even links to sign up for training webinars.