Several shoppers have asked if I know anything about PayQuicker. They are a payment service, similar to PayPal, now being used by a few companies to pay their shoppers. The shoppers I heard from wanted to know if PayQuicker is legitimate and if getting an account with them is a good idea.
First of all, if you want to shop for ACE Mystery Shopping, you will have to sign up with PayQuicker. Their service is the only way ACE will pay shoppers. Two other companies I found (Amusement Advantage and Person to Person Quality) offer PayQuicker as one of their payment options, but don’t require it. There may be other mystery shopping companies using PayQuicker, but these are the only ones I found.
Big red flag: There is no information about the company history, ownership or officers on the website. In contrast, look at the PayPal site. I was able to track down some information about PayQuicker, but why not tell us all about the company right on the website?
By doing some research I learned a few things, but there is not a lot of information about PayQuicker out there. The domain name was registered on September 17, 2009, so they haven’t been around very long. (Information found elsewhere indicates the company began operations in 2008.)
PayQuicker is located in Rochester, NY. They are not a bank but they are a “portal” to University National Bank, located in Minnesota. That means that when you sign up through them you are actually opening an account with UNB.
Although it is hard to tell for sure from the limited information available, they are probably legitimate. Your money is apparently held by a bank and is FDIC insured. ACE says that when you sign up through them there are no fees to use the service. BUT…this is one more account you have to deal with, and it is with what appears to be an unproven entity. Although it is not likely you would lose the money paid to you via PayQuicker, signing up for an account and getting your money out is another hoop to jump through.
Many companies offer only one way to get paid. For example, they may pay only by check, direct deposit or PayPal. There are advantages and disadvantages to each of these methods. You can agree to their terms or not. If you don’t agree, you don’t work for them. The difference between their one way and ACE’s one way is that you can cash a check at any bank. Direct deposit is about the same, except that you don’t have to make a trip to the bank. More than 110 million people already have PayPal accounts, and many other companies already use them to pay shoppers, so it is likely that most shoppers already have PayPal accounts.
The fact that ACE pays only through PayQuicker makes it less likely I would shop for them, not more likely I would sign up for PayQuicker.
I have said it before: There are hundreds of mystery shopping companies out there. Why shop for companies that make you jump through hoops?
So, to answer the questions I received:
PayQuicker appears to be legitimate. If you want to shop for ACE, you should sign up for an account with PayQuicker. However, I would not do so for the occasional shop. It just doesn’t seem worth it.
What do you think? Why would you (or wouldn’t you) sign up with PayQuicker? Let me know what you think in the comments below.