[Update] Payfirma: Mobile iPhone Payment System for Canada

Update: We just spoke with Payfirma’s CEO, Michael Gokturk, who provided us with more information about Payfirma’s payment system.

Here are the details:
– Cost of Payfirma card swiper: $99+tax
– For accounts doing about $500K in volume, the swiper is free
– Fees: 2.50% + 25 cents. No annual fees or additional surcharges
– Security: all data is truncated and tokenized at the swipe and transmitted over SSL. All their facilities are level-1 PCI compliant, access to data is always 2-layer authorization, and even then card data is still truncated.

We’ve seen the mobile payment solution Square have amazing success in the USA. Being able to accept payments right on your iPhone opens up possibilities for small businesses and other entrepreneurs. But what about a similar mobile payment system for Canadians? Get excited, because Vancouver-based Payfirma is doing just that.

Payfirma launched their free iPhone app the other day, allowing for major credit payments to be entered manually, or swiped with the optional card reader. It’s the first of its kind in Canada.Transactions are in real-time through Payfirma’s secure gateway, and no information is stored within the app or the card reader. There’s an option for auto-calculation of tips, pre-authorized payments, and even refunds. Customers can then sign right on the screen, and receipts emailed instantly showing transaction details and the signature.

If you download the app, you can test out the demo immediately. The app is secure, and really easy to use. Payfirma, along with their Fintech Development Team have made a well-thought out app. It shows because they just signed a deal with Sutton Group – West Coast Realty to use Payfirma’s payment processing solution for their 1700 realtors.

Payfirma’s app is compatible with the iPhone 3G, iPhone 3GS, iPhone 4, iPod touch, and an iPad version is on the way. It’s about time someone decided to launch a mobile iPhone payment system for Canadians!

Click here to download the free Payfirma iPhone app. You can click here to sign up for Payfirma.

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Eric Goodwin
14 years ago

Cool. I just hope they figure out a chip&pin solution before the mandatory switch over next year.

Eric Goodwin
14 years ago

Cool. I just hope they figure out a chip&pin solution before the mandatory switch over next year.

Wipdeedoo2
Wipdeedoo2
14 years ago

I think payfirma is going to get their asses handed to them in a lawsuit by Rogers due to their Rogers-like logo and use of red branding.

Mikejiask
Mikejiask
14 years ago

I really don’t know if I feel safe letting someone’s phone take my credit card information.

Ryan
Ryan
14 years ago

You racked up a million-dollar bill and didn’t tip anything? For shame.

Ryan
Ryan
14 years ago

You racked up a million-dollar bill and didn’t tip anything? For shame.

Gary
14 years ago

That was the max limit on my VISA!

Anonymous
Anonymous
14 years ago

My wife works with payfirma. If you have any interest in this company drop me a line.

Jonathan McMullen
Jonathan McMullen
14 years ago

As opposed to having the credit card mailed to you, potentially allowing any stranger to take it, use it, and abandon it all in your name?

As opposed to typing out your card”s information online?

Anonymous
Anonymous
14 years ago

My wife works with payfirma. If you have any interest in this company drop me a line.

Jonathan McMullen
Jonathan McMullen
14 years ago

As opposed to having the credit card mailed to you, potentially allowing any stranger to take it, use it, and abandon it all in your name?

As opposed to typing out your card”s information online?

Jonathan McMullen
Jonathan McMullen
14 years ago

manual payments will always be accepted regardless of the switch.

Jonathan McMullen
Jonathan McMullen
14 years ago

manual payments will always be accepted regardless of the switch.

Anonymous
Anonymous
14 years ago

Sure sure if I had a million dollar credit card I would Mac cash advance and just go bankrupt. Easy million.

Anonymous
Anonymous
14 years ago

Sure sure if I had a million dollar credit card I would Mac cash advance and just go bankrupt. Easy million.

Info
Info
14 years ago

Sounds cool. What are the fees like (monthly fees and percentage per transaction)?

Anonymous
Anonymous
14 years ago

Very competitive. In most cases better than the the competition. If you are interested they do a side by side comparison and consultation for free. They should be paying me for this. In any case if you want more info let me know and I’ll put you in touch with the right person to talk to.

Anonymous
Anonymous
14 years ago

umm just an obervation.. but plugged ito headphone jack…

Anonymous
Anonymous
14 years ago

umm just an obervation.. but plugged ito headphone jack…

Anonymous
Anonymous
14 years ago

umm just an obervation.. but plugged ito headphone jack…

JDM
JDM
14 years ago

Add to the fees: minimum $15/month charge to Payfirma. So, if you don’t generate $15/mo in revenue to Payfirma, that’s what you are charged. This is not Square.

Anonymous
Anonymous
14 years ago

Wow. 15 dollars. That’s a lot of money. Lol. Another thing to consider is they are on this coast.

Anonymous
Anonymous
14 years ago

Wow. 15 dollars. That’s a lot of money. Lol. Another thing to consider is they are on this coast.

Anonymous
Anonymous
14 years ago

By the way my JDM will eat your JDM most likely. Give you a hint. All wheel drive.

Anonymous
Anonymous
14 years ago

By the way my JDM will eat your JDM most likely. Give you a hint. All wheel drive.

Anonymous
Anonymous
14 years ago

Wow. 15 dollars. That’s a lot of money. Lol. Another thing to consider is they are on this coast.

Anonymous
Anonymous
14 years ago

By the way my JDM will eat your JDM most likely. Give you a hint. All wheel drive.

Gary
14 years ago

If your business can’t generate $15 of business in a month via credit card charges…you don’t deserve to stay alive! That’s only 50 cents/day to use this service, if you don’t charge anything in a month. Not a lot of money.

Gary
14 years ago

I’m guessing WRX.

Gary
14 years ago

If your business can’t generate $15 of business in a month via credit card charges…you don’t deserve to stay alive! That’s only 50 cents/day to use this service, if you don’t charge anything in a month. Not a lot of money.

Gary
14 years ago

I’m guessing WRX.

Senators24
14 years ago

Seems legit, and cheap too, I hope bigger companies pick up on something like this. Would be neat 🙂

Jay
Jay
14 years ago

Hey could you send me some information, I would like to sign up. 

JDM
JDM
14 years ago

Well sorry. Just trying to complete the information you provided. My professional services business generates far more than that per month, but it so far has been all cheques

Tom
Tom
14 years ago

I just wasted an hour of my time with this Payfirma. Their costs include minimum amount and statement fees which add up to $25/month whether you have any business or not. 

Furthermore, I filled out the account application on my iphone and on the last step of electronic signature, it falls apart and displays a message that the iphone cannot not install flash and the whole thing odes NOT go through. So not only did I waste my time, but all the confidential info I filled out in their online system disappeared, apparently they don’t have a record of it since it did not go through and I have no idea where it went. 
I am not pleased. 

Tom
Tom
14 years ago

I just wasted an hour of my time with this Payfirma. Their costs include minimum amount and statement fees which add up to $25/month whether you have any business or not. 

Furthermore, I filled out the account application on my iphone and on the last step of electronic signature, it falls apart and displays a message that the iphone cannot not install flash and the whole thing odes NOT go through. So not only did I waste my time, but all the confidential info I filled out in their online system disappeared, apparently they don’t have a record of it since it did not go through and I have no idea where it went. 
I am not pleased. 

Guest
Guest
14 years ago

Customer service is closed on Saturday! Deal breaker for retailers.

Guest
Guest
14 years ago

Customer service is closed on Saturday! Deal breaker for retailers.

Jason Gew
Jason Gew
14 years ago

They got rid of all the monthly fees and lowered the price to 1.99%!!!

Jason Gew
Jason Gew
14 years ago

They got rid of all the monthly fees and lowered the price to 1.99%!!!

Jason Gew
Jason Gew
14 years ago

They got rid of all the monthly fees and lowered the price to 1.99%!!!

DM
DM
14 years ago

Careful.  Jason is a shill for the company.

I’ve been in the payment industry a long time.  There’s absolutely no way they can run a sustainable business at 1.99%.  They’re either hiding fees somewhere, or they’re going to be out of business very soon.  Buyer beware.

DM
DM
14 years ago

Careful.  Jason is a shill for the company.

I’ve been in the payment industry a long time.  There’s absolutely no way they can run a sustainable business at 1.99%.  They’re either hiding fees somewhere, or they’re going to be out of business very soon.  Buyer beware.

DM
DM
14 years ago

Oh and for full disclosure, I work for their competitor http://www.kudospayments.com.  I don’t believe in hiding behind pseudonyms and aliases.

For the record, my post wasn’t intended as a competitive slag.  I simply feel strongly that this type of shady behavior is exactly why people hate the payment industry, and it gives us all a bad name.

I have no problem recommending PayFirma.  They have a great solution.  We do too.  We both service different markets – PayFirma is great if you’re looking for a traditional merchant account.  We’re closer to Square, in that there are no monthly fees or hidden fees, but our swipe rate is slightly higher.  Different merchants have different needs, and a rising tide raises all ships.  With choice in the marketplace, everyone wins.There is more than enough sand for both of us to play in the sandbox.  There’ s no need to be shady here. Let’s work together to bring mobile payments to Canada in an honest and straightforward fashion.  

Jason Gew
Jason Gew
14 years ago

DM – get a real job. Clearly you have no idea how Interchange works so best to stay out of a market you don’t understand.

Art
Art
14 years ago

Now that their Special Offer has expired, here’s the real pricing, according to their website:

– Statement Fee (per month) $20.00- VISA & MC Rates (per transaction) 2.35% + $0.33- iPhone Setup Fee $199.00- iPhone Monthly Access Fee $27.00- Annual Fee $89.00- Card Swiper (optional) $129.00

You’d think they were a mobile phone provider with these extra costs. Whatever happened to “No annual fees or additional surcharges”?

Lisa
Lisa
14 years ago

It does turn out that the $10 fee they list doesn’t include another $30 a month in Visa/MC minimum fees.  $40 a month makes this unreasonable for my business, since I’m mostly paid by check.   It would be convenient to take cards like this, but nearly $500 a year worth.

Lisa
Lisa
Reply to  Lisa
14 years ago

sorry, but “NOT nearly $500 a year worth.”

Lisa
Lisa
Reply to  Lisa
14 years ago

sorry, but “NOT nearly $500 a year worth.”

Lisa
Lisa
14 years ago

It does turn out that the $10 fee they list doesn’t include another $30 a month in Visa/MC minimum fees.  $40 a month makes this unreasonable for my business, since I’m mostly paid by check.   It would be convenient to take cards like this, but nearly $500 a year worth.

Me
Me
14 years ago

I signed up with Payfirma and 3 weeks later still havent got thru the process. I applied for, got setup and online with a competitor in 5 days. That includes me tweaking the shopping cart. Payfirma keep sasking for info I already gave them, then asking again in a slightly different way. Strange hoops. I’ve been in business for 15 years with the same bank, spotless credit, no problems with anyone else to date. Payfirma …. looks good but so far have been time wasters.

MP
MP
Reply to  Me
14 years ago

who is their competitor? Is it Canadian?

Fitz Sullivan
Fitz Sullivan
14 years ago

The KudosPayments Terms and Conditions (really Pivotal Payments, do a Google search for these guys and you’ll see for yourself who you’re really dealing with) are a violation of the Canadian Code of Conduct. 

For those interested in reading how Kudos and Pivotal Payments screws you, read here: http://www.kudospayments.com/tos/pt_toc.pdf

Look at the Termination section. Then look at the Contract Term…INDEFINITE!

Finally, you only get access to these Terms AFTER you buy their device so if you get turned down, you’re out $99+shipping.

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