RedFynn supports payments from Visa, MasterCard, American Express, Discover, Apple Pay, Android Pay, and debit cards. The company offers payment processing through point-of-sale systems or internet gateways, and can also provide instant capital and set up rewards programs. Currently, RedFynn does not support other types of card acceptance, such as mobile processing through smartphones and tablets.
For traditional point-of-sale payment processing (such as in brick-and-mortar retail stores, restaurants, cafes, bars, and more) RedFynn allows quick credit and debit card processing with compatible point-of-sale terminals and credit card machines.
RedFynn allows you to easily accept credit card payments on your website by connecting to RedFynn’s free shopping cart tool or using an approved third-party shopping cart. Additionally, you can set up recurring billing for easy repeat transactions, or use the virtual terminal option to key in card payments from phone or mail order customers.
RedFynn’s instant capital offering allows you to apply for capital to expand inventory and operations, purchase equipment, implement marketing programs, and more. RedFynn partners with many funding companies and assists businesses in securing a beneficial solution. Instant capital functions as a cash advance instead of a traditional loan, meaning that eligibility is not determined solely by credit score. Length of time in business, current sales, and other factors are used to determine who qualifies for instant capital. Bear in mind, however, that merchant cash advances may be an expensive option, as they are not bound by usury regulations that govern loans.
RedFynn offers both gift card and customer loyalty programs to help encourage new business and drive repeat sales. Collectively called the “Rev Program” (short for increasing revenue), RedFynn offers either a gift/loyalty combined option or a mobile marketing option. The mobile marketing option involves the ability to send texts to customers and offer coupons that can be redeemed by the customer pulling up a message on their phone at the time of purchase.
For gift cards, you can choose from one of the standard designs available, or work with RedFynn’s graphic designers to design a custom card. Custom gift cards can include your logo and other special features. Designing a custom card may incur additional fees.
The RedFynn loyalty program is available in three program types: instant reward, graduated reward, and rebate program. With instant reward, a reward is given to customer when they hit pre-determined goals, such as a certain number of purchases or visits. An example of instant rewards are dollars off if you spend a certain amount of money today. With graduated reward, customers can save up points they earn and choose when to redeem them for discounts or special offers. Rewards totals can be printed on receipts so your customer can easily track their point totals. An example of graduated rewards is providing a customer a free product after a certain number of purchases, such as getting a free 5th doughnut after buying 4 doughnuts. With a rebate program, you can choose the rebate for a customer. You’re able to select both the amount of the rebate and the applicable date(s) when it can be redeemed. For example, a stationery store could offer a 20% off discount of purchases over $50 on the first day of school.
RedFynn offers point-of-sale solutions for businesses that need a traditional in-person set up. The company currently offers the Banq POS, a tablet-based point of sale system that includes a cash drawer, scanner, and thermal printer. The Banq POS is also compatible with EMV and NFC payment devices.
Additionally, RedFynn offers terminals from popular manufacturers Ingenico, Verifone, Pax, and First Data.
RedFynn does not have any information specifically related to security on their website, but does support EMV-compliant and NFC-capable terminals, allowing the use of EMV cards and NFC payments that are both among the higher-security payment options currently available for consumers.
RedFynn doesn’t publish rates or fees for payment processing. In RedFynn’s Lifetime Service Guarantee, the company does specify that they will not raise rates on your account except when interchange rates or other fees go up and are changed by the credit card companies and banks.
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Note that in addition to processing fees, there are separate costs for the “Rev Program” comprised of gift, loyalty, and mobile marketing services. The pricing for the Rev Program is as follows:
Gift and loyalty: $39.95/month
Mobile marketing: $99.95/month
Both programs together: $129.99/month
RedFynn’s online presence regarding reviews and commentary is minimal, but primarily positive. RedFynn has been accredited with the Better Business Bureau since 2014. RedFynn currently has the highest BBB rating (A+) with no complaints registered in the past 3 years. There is one customer review for RedFynn on the BBB website, in the positive reviews section. The review praises many of the company’s offerings, including point of sale, processing, and rewards programs. The reviewer also notes the low pricing and a free trial period. In response to the BBB prompt of whether the reviewer would recommend the company to a friend, the review notes that yes, they would recommend RedFynn.
RedFynn Technologies has 3 reviews on Yelp totaling a 5-star score. One review is the same as the review from the BBB site. The other 2 reviews praise good employees and management, and low fees. All reviews rated RedFynn 5 stars.
There are currently no negative reviews for RedFynn in the Ripoff Report directory. RedFynn does not list customer testimonials or awards on their website.
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Posted by CardFellow on Apr 19, 2018
Redfynn promises a no rate increases on your processing, which can help you keep costs down over time.