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Smart Trade App

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Thursday, January 31st, 2019
Best Payment Providers

A Good Fit For:


What We Like

SmartTrade App is a quick and easy way for small businesses to accept payments without having to buy any extra equipment. Also, the business is very clear and transparent about pricing, feature, and other details.

What We Didn't Like

Larger businesses that make more than £1,500 per month, likely will find better pricing elsewhere. Also, SmartTrade App is not the best option for businesses that have high monthly transaction volumes.


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Marketing

Sales

Support

Pricing

Overall

Overview

Designed and launched in London, SmartTrade App is a billing and payment management solution that supports multiple payment methods and automates the billing process.

SmartTrade App allows you to turn any smartphone in a portable payment machine. Entrepreneurs and businesses in the UK can simply download the app and begin taking debit and credit card payments in-person, by phone, or via email paylinks without a merchant account or a card reader. The highest level of card security is offered along with PCI level-1 compliance.

When signing up for the app, registered businesses must submit company and VAT numbers. Individuals must submit passports or driver license numbers. Date of birth, email address, a bank account number and sort code, and the name of the bank where payments will be deposited also are needed to start an account. Stripe is SmartTrade App’s acquiring bank, so merchants also must have a Stripe account to use the app.

Additionally, it provides a way to send and receive paperless quotes, invoices, and receipts, and it integrates into accounting software. It also can tell you when quotes have been accepted, deposits were made, and when payments cleared.

The app is available for iOS and Android devices, and payments also can be accepting on PCs and Macs. It takes payments five business days to clear. Payments clear in three days if they make more than £30,000 per month.

Also, SmartTrade App won the 2016 Payments Awards Winner for Best Mobile Payments Solution and the 2017 Card and Payments Shortlisted for Best Mobile Initiative. Their efforts led to a ‘Hailo for Plumbers’ service but soon noticed inefficiencies in the way these small businesses operated, so they began working on way to make managing payments and paperwork simpler. What they ended up creating was SmartTrade App. The software launched in January 2014, and since, it has gotten rave reviews on app sites. Today, it used more than 25 different types of merchants, including tradespeople, beauticians, taxi companies, B&Bs, designers, and charities.

Marketing

For the most part, SmartTrade App uses its website, social, media, its affiliate program, and its strategic partnership with Stripe to promotes its services. All of its marketing is straightforward and transparent and contains no gimmicks or deceptive language. It uses Twitter and Facebook to promote its services, system updates, and other news.

Honesty

A quick scan of SmartTrade App’s site showed nothing overtly misleading or deceptive. We also found no complaints about misleading claims or hidden fees or pricing. In fact, many of the positive reviews we saw were about the business being upfront about pricing and other information.

Sales

Most of SmartTrade App’s growth and revenues come from partners, either reselling, co-branded or white-labeled for partners. It also gains customers through its affiliate program.

Support

SmartTrade App is available 9 a.m. to 5 p.m. Monday through Friday. It is available via phone, email, or chat. Its UK-based tech support is available 24 hours per day, seven days per week. It also offers a support centre that is loaded with information.

Staff Education

During our interactions, we found the staff to be well-trained and knowledgeable about its software and it many features. They promptly asked questions, and also were interested in answering them.

Staff Responsiveness

We have to say that emailing SmartTrade App is the best way to reach the company and get responses. When we emailed the business, we received a response almost immediately. We found this very positive. We felt that the responses were written by an individual interested in getting our business and not just an automated response. We found this very refreshing, and it helped build confidence in its commitment to quality customer service.

Also, the email did encourage me to call for additional information. After many efforts, we did reach someone in sales. Though it was difficult to get a live person on the line, once we did get someone, it was a positive experience. Also, our calls were never dropped and we did not get transferred back and forth a bunch of times.

Staff Interaction

Like we previously mentioned, our interactions with the SmartTrade App’s team went well. Every person we interacted with was eager to discuss the software and its many features, as well as how it could help our business. Also, this is something that we discovered other customers experienced. The people we spoke to were engaging, courteous, pleasant and ready to answer questions. All we can say is that this was a definite bright spot for the business.

Pricing

SmartTrade App offers three payment plans called: Solo Trader, Business, and Enterprise.

Solo Trader is the plan for one-person companies and costs £9.99 per month or £101.90 per year. Credit card fees are 2.15% plus 20p per transaction.

Business is the plan for up to 15 users and costs £26.99 per month or £275.30 per year. Credit card fees are 1.85% plus 20p per transaction.

Enterprise is the plan for up to 50 users and costs £89.99 per month or £917.90 per year. Credit card fees are 1.75% plus 20p per transaction.

All of the plans allow merchants to accept Visa, MasterCard, and American Express, as well as all major foreign cards. There is a 1.5% surcharge for non-EU cards.

The Solo Trader allows the app to be used on three devices, and there is no limit on the number of devices with the other plans. All plans are PCI compliant and allow merchants to accept payments by email paylinks, telephone, or in person.

Also, SmartTrade App allows you to sign up for a free 30-day trial. Once the trial period is over, a merchant can either continue with the free plan and pay a 2.7% transaction fee, sign up with one of its three plans, or cancel the app.

Additionally, it charges a chargeback fee of £15.

Hardware Costs

Since SmartTrade App turns your phone into a card reader by allowing merchants to scan cards through their cameras, users do not need to rent or purchase any other additional equipment to take payments.

Early Termination Fees

SmartTrade App does not require a contract. Therefore, merchants can cancel at any time without any financial penalty. However, those who pay annually save 15 percent.

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