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It isn’t unusual for companies to overpay for credit card processing due to a variety of avoidable issues. In many cases, rather than contest their outrageous credit card bills, they just surrender and settle for unfavorable terms. If this trend continues, a company’s financial health will almost certainly deteriorate. No business should leave its fate to credit card processing companies that are going to charge them exorbitant fees.
Instead, they should look for payment processing companies that charge competitive rates and are willing to work with them. One of these companies with a solid reputation is Swipesum. Let’s take a close look at Swipesum, so you can find out whether or not their services would be a good fit for your company.
Onto our Swipesum review!
Swipesum Pros and Cons
Before we look at Swipesum’s features, here is an overview of some of the benefits and drawbacks of this financial services platform.
- Ease of access. The Swipesum platform is really easy to use, is extremely encouraging, with intuitively simple features. Even if you have never used it before, you will find it very simple to pick up on exactly how Swipesum works. Furthermore, because the software is simple to use, it is very easy to integrate your business workflow with it as well.
- Tailored network of providers. When you subscribe to Swipesum, you gain access to the platform’s vast network of providers. Swipesum connects businesses of various sizes to payment processing providers, giving these businesses a significant advantage. The complexity associated with integration and contract negotiations with multiple providers is eliminated by connecting businesses with providers. When you partner with a financial company, they ensure that you have a single reliable business partner in them. Furthermore, by partnering with the company, your company is exposed to a network of payment providers, ensuring that you have control over which provider to work with.
- Competitive rates. Simply put, Swipesum connects businesses with others so that any business, regardless of size, can find the best provider at the best price. Swipesum not only connects businesses with providers who offer lower rates, but also with providers who provide stellar services and better contracts. Swipesum accomplishes this through the use of a platform that hosts a network of providers who actively compete for each opportunity.
- Dedicated customer support team. Swipesum has a strong customer support team on hand to help you with any problems that may arise with your business. It is recommended that you contact the customer support experts rather than waiting on hold with your payment processor.
- Short turnaround times. Swipesum takes a process that normally takes 3 to 21 days and completes it in an instant.
- The periodic fees can be inconvenient. Swipesum does not charge simple and straightforward fees. Swipesum, unlike other competing brands that only charge for the use of their tools, requires a monthly or yearly subscription. This can be inconvenient for small businesses that only need the tool on occasion.
- Limited features. Swipesum as a platform focuses primarily on credit card processing and other payment activities. While these are critical functions for most businesses, there are many other financial services companies online that offer this, and many other features combined in one single platform.
Swipesum is a software venture based in the United States that publishes the Swipesum software suite. This company was founded in 2016 by a group of payment technology experts who recognized the inefficiency of the modern payment system. According to the business establishment, the payments industry is a complex space riddled with misinformation. And that hundreds of providers conceal their pricing structure in order to give the impression of inflexibility and exclusivity in their services, thereby removing control from businesses. Swipesum was created to ensure that these concerns are addressed, transparency is maintained, and power is returned to businesses.
Staitment, an AI-powered software, was introduced by the company to improve its service offering. Published in 2020, the tool instantly analyzes any processing statement and generates digital cost-comparison sales proposals within minutes.
Swipesum currently boasts that by using their expert payments consultants in conjunction with their revolutionary statement reading software, they can quickly and efficiently identify unnecessary fees and rates, saving larger companies up to $100 million annually.
Products and Services: What Does Swipesum Offer Small Businesses?
Swipesum’s package includes a variety of services ranging from payment consulting to payment optimization and vendor evaluation. Let’s take a closer look at our Swipesum review below.
Swipesum essentially assists businesses in redefining their finances. Swipesum as your fractional ‘Chief Payments Officer’ will ensure that all of your financial transactions are thoroughly examined.
The company accomplishes this by beginning with a preliminary consultation in which questions about the business to be redefined are asked. During the pre-consult Swipesum attempts to learn as much about a company as possible, especially its intermediate and long-term financial objectives.
Obtaining this information helps the Swipesum platform to better understand the business, allowing it to provide you with a proposal outlining potential vendor solutions, an audit of your statements, and the cost comparison findings. Additionally, to assist the business in its growth stage and to maintain such growth, the ideal setup for your business will be shown to you, and if you agree to the implementation, Swipesum will do all of the work to make it a reality. Notably, as of 2020, Swipesum, an AI-powered software, had analyzed over $6.2 billion in transactions.
Swipesum assists its clients with the elimination of unnecessary credit card processing fees. The payment optimization is accomplished by utilizing consultants. Given that businesses in every industry overpay for credit card processing, these trained consultants teach their enterprise clients to spot red flags in contract negotiations and pricing structure. The software, which includes statement reading capabilities, instantly verifies interchange and all negotiable fees, ensuring that the correct amount is paid without overpayment. Like all of the company’s other services, Swipesum allows you to optimize your payments by scheduling a free consultation.
Chargebacks & Security
Another thing that Swipesum can offer its clients is financial peace of mind. One major benefit of having a consulting firm look over all aspects of a business’s finances is that it protects it from fraud and certain financial loopholes. By allowing Swipesum to manage your company’s finances, you agree to it acting as your merchant advocate. The consulting firm will help protect your business from chargebacks, fraud, and other risks by handling disputes before they reach your processor, thanks to a dedicated Swipesum support team.
Swipesum includes vendor evaluation in its consultation services to help your company find dependable vendors who offer competitive rates. Swipesum has built an extensive network of payment providers and financial institutions in North America alone, with over 5,000 payments solutions. This ensures that businesses that use the financial services company never have to negotiate a contract on their own. This feature ensures a comparison of a company’s processor relationship against about 70 providers, allowing you to obtain the most competitive rates for your company.
A Summary of the Company’s Offerings
Swipesum’s extensive list of payment processing providers allows businesses to find the best rates possible. After subscribing to Swipesum’s services, your company will gain automatic access to lower-cost wholesale transaction rates as well as AI-powered statement reading software. The ultimate goal is to ensure that financial decisions as it relates to your business are transparent.
Getting Started with Swipesum
It is easy to get set up and working with Swipesum. You can have this platform underpinning your company’s payment activities in four simple steps:
Step 1: Consultation
This is a free, one-hour virtual meeting with the company’s management. Here, Swipesum learns about the company’s current provider, how payments are accepted, and the desired outcomes from an examination of the company’s monthly credit card processing statements. Implementing fraud filters and lowering fees and payments are usually covered during the initial consult.
Step 2: Proposal Presentation
Following your consultation, Swipesum will prepare and present a proposal to your company’s representative. Swipesum’s payments experts will connect your company with the top three solution providers, as well as provide a comparison of three pre-negotiated pricing options for your business. In most cases, Swipesum will be able to find rates superior to the ones you are currently paying for processing payments.
Step 3: Solution Implementation
This stage involves payment negotiations and agreements. Swipesum will assist you with the underwriting process and other administrative activities during this phase. The platform will ensure that solutions noted earlier during this process are implemented smoothly.
Swipesum does not go silent after a successful solution implementation. In fact, the company will be standing ready to provide hourly consulting services if needed. However, you may incur additional fees if you choose to use Swipesum after payment solutions are implemented.
There are several different alternatives to Swipesum. Here are a few of the more popular ones.
- Clearly Payments: This is a frontline competitor to Swipesum. Clearly Payments is known for offering low interest rates and same-day deposits. They accomplish this by assisting businesses in accepting credit cards, debit cards, and even Bitcoin. Clearly Payments also collaborates with the best technology providers to maintain an overall competitive cost structure. The financial services firm handles online, in-store, and mobile payments.
- Stripe: Stripe is a credit card processor that is similar to Swipesum. This web-based processor charges reasonable processing fees. The free and simple API is one of the features that draws the majority of users to this platform. This enables small businesses with some development resources to create custom experiences for their e-commerce site. Unlike other companies, there are no additional costs associated with the integration.
- PaymentCloud: PaymentCloud is a payment processing solutions company with approximately 40 managers to ensure that support is available 24 hours a day, seven days a week. Specialized training can help you get the tools you need to grow your business. The company’s features include free cost comparison, seamless setup, chargeback and fraud prevention, and hundreds of integrations.
- Sage Payment Solutions: Sage Payment Solutions is a dependable payment processing solution that can be used in place of Swipesum. It enables merchants to accept various payment methods in-store, online, and on the go. Businesses can save time and money by accepting card payments, e-checks, and mobile wallet payments with Sage Payment Solutions. Sage Payment Solutions also integrates with Sage accounting products to help businesses reconcile invoices and payments, synchronizing front and back-office operations. Unlike Swipesum, this financial service company does not allow for a free trial.
Swipesum Reviews & Complaints
Swipesum has a TrustPilot rating of 3.6/5.
Customers have mostly given positive feedback. Negative reviews are uncommon, and when they do occur, they are mostly about the difficulty in interacting with them.
Swipesum Customer Service
You can contact Swipesum via:
- Phone: (844) 312-0589
- Email: [email protected]
- Social media platforms
Swipesum’s customer service is friendly and helpful. Their FAQs are also useful if you have a question about the services they provide. As previously stated, Swipesum ranks highly in terms of transparency. Their website is designed to be user-friendly for both new and returning customers.
Helpful Business Links
Divvy Business Credit Card: Fast and flexible business credit when you need it.
Divvy Business Credit Builder: A program to help businesses build their credit.
Swipesum: Find the cheapest credit card processing solution that is best for your business.
Toptal: Hire ex-Google, Apple, and SpaceX freelancers online.
99designs: Create graphic design contests with top talent from around the world.
Carbon Easy: Grow your business by carbon offsetting with Paying Green®.
Frequently Asked Questions (Faq)
Our Swipesum review answers some of the most common questions.
Is Swipesum legit?
Swipesum is a legitimate financial services platform that has been providing payment processing solutions since 2016.
Does Swipesum accept various currencies?
Swipesum can accept a variety of currencies. However, exactly which currencies can be accepted will be determined by the processor and the manner in which your company accepts credit cards.
Do I have to sign an agreement with Swipesum?
Swipesum does not allow direct contract signing with businesses. Contracts are instead made between your company and the merchant services provider, which Swipesum will help you set up.
Is there a free trial available for Swipesum?
Swipesum does provide a free trial. Check it out here.
How much does Swipesum cost?
Pricing on Swipesum is variable, but it begins at $15.00.
Is there a mobile app for Swipesum?
Swipesum does have a mobile app for the iPhone, iPad, and Android devices
Swipesum is a highly regarded payment processing company led by individuals who are well-versed in all aspects of the credit card processing industry. If you are looking for a platform that can power your company’s payment system and make it more secure, you should definitely check out Swipesum today.
Check Out Swipesum
Thanks for reading our Swipesum review.
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