The Independent Sales Arm of First Data
CardConnect, formerly known as Financial Transaction Services, is a rapidly growing merchant account provider that operates as an independent subsidiary of First Data (now Fiserv). Founded in 2006 by CEO Brian P. Shanahan before changing its name and moving to Pennsylvania, CardConnect was acquired by First Data in 2017 and is now the primary independent sales network used by First Data/Fiserv. The company has previously partnered with FTV Capital, Bank of America, and SecureNet Payment Systems to expand its products and services. Notably, the company offers interchange-plus pricing as well as level II and III data processing through its payment gateway.
CardConnect Location and Ownership
CardConnect’s headquarters are located at 1000 Continental Drive, #300, King of Prussia, Pennsylvania 19406. Jeff Shanahan is listed as the president of CardConnect.
CardConnect Review Table of Contents
- Costs & Contract: CardConnect usually offers a multi-year contract through First Data with a variable termination fee. The company also offers interchange-plus pricing.
- Complaints & Service: CardConnect has received more than 75 public complaints.
- BBB Rating: CardConnect has an “A-” rating and has received 74 complaints and 22 reviews in the past 3 years. The company has been accredited by the Better Business Bureau since 2019.
- Sales & Marketing: CardConnect hires independent sales agents and has received a moderate number of complaints about its sales practices.
- Rates & Fees: How Merchants Got The Best Rates With CardConnect