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BOI Payment Acceptance

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Tuesday, October 23rd, 2018
Best Payment Providers

What We Like

BOI Payment Acceptance is a good option for smaller businesses that generate fewer than €8000 in monthly card turnover. It offers transparent pricing, and it doesn’t charge authorization, PCI-compliance, or minimum monthly fees.

What We Didn't Like

BOI Payment Acceptance charges an undisclosed amount to terminate contracts. Additionally, it increases its sales by using referral and reseller programs.


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Marketing

Sales

Support

Pricing

Overall

Overview

BOI Payment Acceptance (BOIPA) is a marketing alliance between Bank of Ireland and the Melville, NY global payments processor, EVO Payments International.

Based in Dublin, Ireland, BOIPA offers a full range of face-to-face, mobile, and online payment solutions that aim to make it easier for merchants to accept credit cards payments. Its solutions are offered via three pricing bundles that are geared toward smaller businesses. It offers customized pricing packages to larger, more established businesses. Additionally, BOI Payment Acceptance settles transactions within a day.

Due to a long-term deal started in 2014 with Melville, NY-based Evo Payments International, BOI Payment Acceptance was formed to serve as the merchant services arm of the Bank of Ireland. The Bank of Ireland, which was started in Dublin in 1783, served customers in Ireland, the UK, and the United States.

EVO Payments was founded as a privately-owned independent sales organization Founded in the United States in 1989 as an individually-owned, independent sales organization, EVO Payments International has grown substantially since its humble beginnings. Currently, EVO Payments International processes approximately $100 billion in payments in 50 markets worldwide each year.

It is important to note that EVO Payments International (trading as BOI Payment Acceptance) is not a member of the Bank of Ireland Group.

Marketing

BOI Payment Acceptance markets itself through its many referral partners, including the Irish Traditional Italian Chippers Association and accountancy software firm, Big Red Cloud, as well as through its ties with Bank of Ireland. BOIPA does not appear to do any of its own marketing on social media, other than the minimal amount of information it has on LinkedIn. Any reference to BOIPA is promoted via Bank of Ireland’s channels.

Honesty

It has several positive testimonials on its site. They are attributed to merchants, using their first and last names, as well as the business name, adding to their validity.

However, it does offer a rather slick promotion on its site. BOIPA states merchants can “terminate contracts without penalty” if they do not have 10% growth in sales after trying one of its Ready Made pricing packages for six months. This offer is only available for new customers who have never accepted card payments. Also, merchants must show receipts of the six months with BOIPA, as well as the six months prior to terminate the contract without penalties. Otherwise, we found no other misleading statements or rates. We also found no complaints from customers about hidden fees or deceptive contract language. However, customers have complained about dishonest sales tactics and non-disclosure of fees by representatives at Evo Payments. BOIPA is a division of Evo Payments.

Sales

BOIPA gains sales through both an in-house sales team, as well as through Bank of Ireland and Evo Payments. It also generates sales through referrals and partnerships. Again, though we have found no complaints related directly to BOIPA, we did find complaints about hidden fees and high-pressure sales tactics against Evo Payments.

Support

BOI Payment Acceptance can be reached by phone, its “request a call back” buttons, and by submitting an inquiry form.

BOIPA also offers 24/7 support for service queries. Additionally, it offers a support center, which answers some of the most commonly asked questions about terminals, accounts, and other related topics.

Staff Responsiveness

It did not take long for BOI Payment Acceptance to respond to our inquiries. We received a response within hours of us submitting a form. We were asked to submit our phone number or to call an agent at our convenience. We called multiple times, and each time, we were able to reach a representative.

Staff Interaction

The team members we spoke to were energetic, enthusiastic, and professional. They listened to hear what we wanted, and then followed up with thoughtful questions. They were not pushy or aggressive, and we never felt rushed to fill out an online application, though it was encouraged. The people we spoke to were consistent, and genuinely seemed interested in helping us get the products and services we needed.

However, we do have to add that when we asked about early termination fees, they did their best to avoid the question. We never received an answer about it. Despite this, we found the interactions to be overwhelmingly positive.

Staff Education

The team members we interacted with were thoughtful, consistent, and knowledgeable about the company, its pricing options, and its products. The team seemed well trained and educated. The team members we spoke to clearly and articulately provided details, and courteously encouraged us to call back if we had any other questions.

Pricing

It offers three fixed price plans for small businesses: Ready Made 2000, Ready Made 4000, and Ready Made 8000. Ready Made 2000 costs €42 per month and is for small businesses with monthly card turnovers of €2000. Ready Made 4000 costs €58 per month and is for small businesses with monthly card turnovers of €4000. Ready Made 8000 costs €84 per month and is for small businesses with monthly card turnovers of €8000. Terminal rental and VAT is included in all three plans.

Businesses that have monthly card turnovers greater than €8000 per month, need to get a quote by calling BOI Payment Acceptance. It does not disclose any rates, contract terms, or whether terminal lease is included.

It is noted in several places on its site that BOI Payment Acceptance does not charge any hidden fees, including joining, minimum monthly, PCI-compliance, or authorization fees.

Hardware Costs

BOI Payment Acceptance offers fixed, portable, and mobile terminals from Ingenico. As previously mentioned, terminal rental is included in its three Ready Made plans. It does not disclose the terms or fees for leasing equipment with a customized plan.

Early Termination Fees

BOI Payment Acceptance offers 18-month contracts. However, since EVO Payments is doing business as BOIPA, we found it fair to conclude that contract terms are likely similar. Merchants that sign up with EVO Payments directly are charged up to $500 if they cancel their contracts before their terms expire. Though references “early termination penalties” on its website, it does not specifically state what they are. Many merchant service providers either charge an early cancellation fee require merchants pay out the remainders of their contracts to be released from them.

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