SPECIALIZES IN B-TO-B
DEDICATED CARDFELLOW REP
ACCEPTS HIGH RISK
First Data, TSYS
BMO Harris Bank, Woodforest National Bank, Esquire Bank
Vivid is a young company, launched in summer 2017, but appears committed to transparency and education. If you're considering Vivid Payments for your business, this review covers what you need to know about costs, equipment, and more.
Vivid Payments provides all the services you'd expect from a modern, tech-focused payments company. You'll be able to accept major credit and debit cards online, in person, or by phone. The company partners with multiple other vendors to offer a full range of solutions from reporting and marketing capabilities to bar and restaurant management features.
Vivid Payments provides next business day funding as long as you close your batch by 10PM CST. If you settle after that time, your funds will be deposited within 2-3 business days.
Vivid Payments partners with Factor 4 for gift card and loyalty programs. The programs are customizable, allowing you to tailor them to your business needs. You can even set up digital gift cards for ecommerce sales. However, Vivid Payments doesn't include information about costs to set up the Factor 4 programs.
Vivid Payments works with a variety of POS systems (such as Talech and Upserve) that allow you to easily manage your restaurant or bar. Important features include table layouts, order management, EMV compliance, and inventory tracking.
For appointment-based scheduling and marketing services, Vivid Payments has partnered with Mangomint to provide you with a seamless scheduling platform customized to your website. Additionally, you can utilize a complete set of marketing services that include customer engagement tools and valuable customer data capture.
Vivid Payments offers several state-of-the-art terminals for credit card processing, including the Poynt terminal and Clover systems. The company will also offer the Verifone Carbon. In addition, Vivid can integrate with many other machines, including popular Verifone models. The company has experience with working with a variety of POS brands such as eHopper, Upserve, Micros, Lightspeed, Talech, NCR, and more. They cannot support them all, but they can provide un-biased consultation on which ones may work best for your business.
Ehopper is available for Android, Apple, and PC devices or the Poynt terminal and provides functions like inventory management, customer management, a full touch-screen point of sale that can calculate discounts or taxes, and provides detailed reporting.
Talech allows for menu customization, table management, offline mode, tabs, and the ability to easily modify menu items per customers' requests.
Vivid Payments also supports multiple payment gateways such as Authorize.net, USAePay, NMI, and many more to allow you to build an e-commerce solution.
Vivid Payments is one of a few companies that posts its interchange plus rates. The company says that you'll pay 0.40% + $.05 per transaction, in addition to interchange fees set by the banks and card brands. Vivid also states that they pass interchange fees to you at cost, with no markup, and provides a list of other fees that apply.
Note that while Vivid's rates may look higher than some companies' rates, it's important to ensure that you're comparing the same pricing model. Some companies that publish lower rates will charge you on a "tiered" pricing model, which ends up more expensive overall. Read more about pricing models.
Interchange plus pricing can seem a little confusing at first, and Vivid Payments attempts to clarify with several examples of what you'd pay for different card types. The company lists a few common cards you'll probably take at your business, and shows you the costs for interchange, assessments, and Vivid's rates to give you an idea of what you'd pay.
With the published rates available from Vivid, it's easier than usual to compare markups. You can use CardFellow's free quote comparison tool to see how Vivid Payments stacks up to other processing companies. Try it here.
As a very new company (founded in summer of 2017) Vivid Payments doesn't have a lot of customer reviews available online. The company does have an official Facebook page that currently shows a 5-star rating from four reviews on Facebook. Reviewers praise Vidid for being helpful, knowledgable, and responsive, as well as for up-to-date technology and great pricing.
Vivid Payments also has a Better Business Bureau profile, currently with an "A" rating. So far, Vivid does not have a Google Reviews listing, a Yelp listing, or a Ripoff Report profile.
With so little client information, it's more important than ever to hear from businesses that have used this company. Help us (and other business owners!) by leaving a review about your experience with Vivid Payments!
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Posted by David Jones on Oct 20, 2018
I must say I had contacted at least 6 or 7 companies prior to speaking with you and I really appreciated how you presented what your company offered, No high pressure sales pitch, or "my company is the best, cheapest etc."
Posted by Tyler Gerber on Oct 03, 2018
Derek and his team were very structured and made our transition to Vivid much easier than anticipated.
Posted by Joey Marzelli on Apr 04, 2018
Derek is great to work with and very knowledgeable in the local business space. He got us set up very quickly and we had a Poynt terminal within a few days.