American Express AcceptPay Review | CreditShout

American Express AcceptPay Review

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Overview: AcceptPay is American Express’s online invoicing and payment system. It works in conjunction with credit card merchant accounts to permit users to accept American Express and other major credit cards. You can use it if you already have a merchant account, or AcceptPay will set up a merchant account for you.

Verdict: With fees and charges comparable to Paypal and other online payment options, plus integration with any merchant account, the service seems like a good Paypal alternative. One of the best features is integration with QuickBooks, making it a good all-in-one solution for small-to-midsize business owners to accept online payments. Other appealing features include recurring invoicing and custom invoicing, plus a 60-day free trial to test drive the online payment system.

How It Works:

When you sign up for your free 60-day trial, you’ll want to link your existing merchant accounts to AcceptPay by entering your existing merchant account numbers during the application process. If you don’t currently have a merchant account, you can apply for one when you apply for AcceptPay.

Since AcceptPay is hosted securely “in the cloud” there’s no software to download. Once you’re up-and-running, you can use AcceptPay to:

  • Accept credit card, eCheck, or bank transfer payments online, by phone or in person.
  • Accept payments on your website or through email without invoicing, through a Web payment form.
  • Set up automatic billing for clients
  • Send e-mail invoices and accept payments online
  • Schedule recurring invoices
  • Set up and send customized receipts
  • Remind customers of credit card expiration dates via email

The system also permits you to view accounts receivable charts, so you can track incoming payments and outstanding invoices by date, amount, customer and more. Customized invoices with your company logo and any messages you want add another touch of professionalism to your online payment system. Businesses can add additional users to your account free of charge, each with their own password and security restrictions, if necessary.

Finally, a host of added features set AcceptPay apart from other online payment processing options. The system also integrates with QuickBooks for easy bookkeeping and money management.

Charges and Fees
  • Monthly subscription: $30 month
  • ACH Initiation: one-time fee of $10

AcceptPay has no early termination fees (although merchant account termination fees may apply) and no set-up fees, either. There are, however, some transaction fees:

  • American Express Merchant Rate: 2.89% + 15 cents per transaction
  • Merchant rate for other major credit cards: Starting at 2.29%
  • Processing fee for all cards: 29 cents per transaction
  • eCheck (ACH) rate: 55 cents per transaction
Benefits

The benefits to this online invoicing solution are many. Because the system is hosted securely online, you don’t have to worry about system upgrades to your computer or downloading software.

Customers can receive free training and tech support when they sign up for AcceptPay. The system is robust enough to grow big enough to meet the needs of any business, with an unlimited number of users added to one account at no charge.

AcceptPay offers customizable, online receivables reports, and makes it easy to customize invoices in any way you like. It’s easy to set up recurring payments, and even to cancel one month’s invoice without canceling the entire schedule for that customer.

A comprehensive FAQ page answers most questions about the system, but customers receive free training and tech support, too through phone, email or online.

Pros
  • No set up fees
  • No cancellation fees
  • 60-day free trial
  • Free tech support and training
  • Flexible, robust system that grows with your business
  • Add users with different authorization levels at no charge
  • Integrates with QuickBooks for easy bookkeeping
  • Customized invoices
  • Your customers can pay invoices or make payments by phone, mail or online using AcceptPay
  • You can send invoices by regular mail using AcceptPay
  • No limits to invoices you can send or payments you can process
Cons
  • $30 monthly subscription fee
  • Merchant fees plus processing fees add up, but are not higher than industry averages
  • You can only use AcceptPay to make payments if your vendors use AcceptPay, too
The editorial content on this page is not provided by any of the companies mentioned and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are the author's alone. Additionally, the opinions of the commenters are not necessarily the opinions of this site

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