Is iTransact the Right Merchant Account Provider for Your Business?

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All mentions of rate and fee costs are estimations based on publicly available information and client feedback. Actual costs may vary based on a variety of factors unique to your business.

iTransact

Rating
C
3/5
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Pros and Cons of iTransact

Pros

Secure payments
Low fees
Good customer service

Cons

Limited currency support
Contract penalties
Monthly fees reported
High processing rates
Billing issues reported

Overview

In this iTransact review, we’ll examine this online payment gateway and merchant account provider, covering their rates, fees, contract terms, and common customer complaints while also drawing on industry and employee reviews to assess their reputation. We’ll highlight key features of the iTransact gateway, including a virtual terminal, recurring billing, invoicing tools, and a user-friendly interface, along with security measures such as PCI DSS compliance. In addition, we’ll weigh the pros and cons of their services, review their customer support options, and consider online ratings to provide a complete picture for businesses deciding whether iTransact is the right payment processor for their needs.

About iTransact

Screen Capture of iTransact Homepage
iTransact Homepage

iTransact is a merchant account provider that serves as the online payment gateway for Payroc. The company resells the merchant services of several processors, including First Data (now Fiserv), Global Payments, TSYS, and Chase Merchant Services. The company started out as an electronic check processor in 1994 and expanded over time to make credit card processing its largest area of business. In 2010, iTransact merged with National Merchant Services to form iTransact Group LLC. iTransact Group was then acquired by Payroc LLC in October 2016.

Products & Merchant Services

Payment Gateway

iTransact provides a virtual terminal for processing various transaction types through a single interface, including partial approvals and the use of a USB swiper for retail transactions. The virtual terminal is designed to be intuitive and user-friendly.

Recurring Payments and Invoicing

The platform supports setting up recurring payments on flexible schedules, such as monthly, weekly, or daily. Customers can update their billing information directly through a link in their recurring receipts. Additionally, iTransact allows merchants to send invoices and receive payments in multiple languages, with notifications sent to the merchant upon payment completion.

Reporting and Batch Uploads

iTransact offers the ability to generate transaction reports in formats like CSV, XML, or QIF, using various search terms. Merchants can also upload batch files with transaction information, which iTransact processes in the background, providing notifications upon completion.

Advanced User Controls and API

The service includes advanced user controls, allowing the creation of custom roles to comply with Sarbanes-Oxley regulations. Their API supports all transaction types, managing recurring payments, and checking the status of previous transactions.

Account Management and Payment Form Generators

Merchants can manage gateway account settings, including accepted payment types, fraud controls, email settings, and API keys. iTransact also provides tools to generate payment forms, facilitating quick setup.

Security and Compliance

As part of Payroc LLC, iTransact adheres to PCI DSS standards, ensuring the security of cardholder data. They emphasize the importance of complying with industry security standards to maintain customer trust and data integrity.

Customer Reviews & Sentiment

Insight into iTransact Reviews

An analysis of available reviews reveals a small number of negative iTransact reviews, with some labeling the company as misleading or a scam. These complaints predominantly address issues such as high fees, billing inaccuracies, and insufficient disclosure regarding additional charges. Given iTransact’s model of reselling services from various processors, it’s plausible that certain grievances might be attributed to these third-party companies instead. Despite these critiques, iTransact has received mixed feedback regarding its customer service and support, leading to an “A” rating in this aspect due to the relatively low volume and recurrence of such reports. We invite you to contribute your iTransact experiences in the comments section below.

Customer Support Offered by iTransact

iTransact’s official website provides contact details for support, including a specific support email and a general customer service phone line. Some reviews have commended iTransact’s customer service department for its efficiency.

Industry Scores & User Ratings

Online Ratings Summary
PaymentPop
BBB Rating2.82
Google Maps2.3
Average Rating2.56

PaymentPop Rating for iTransact

Negative Feedback

Poorly at best, ever rising costs and hidden costs, no answer on phone, can’t seem to get it discontinued. Trying to opt out and can’t.

Positive Feedback

There are no positive reviews published about iTransact on the PaymentPop website.

Over 20 BBB Complaints

As of this review, iTransact (As Payroc) has a Better Business Bureau rating of “A+” with 23 complaints filed within the last 36 months. iTransact has a 2.82 out of 5 star rating based on 17 user reviews on the Better Business Bureau website.

What Merchants Say

In addition to the 23 complaints, Payroc has received 27 informal reviews. 12 of those reviews are negative in tone and 15 are positive. The most recent review describes aggressive tactics from the company after signing:

I tried them for a couple of months, but immediately pulled the machine when they decided to try and dictate policy. They use strong arm tactics and threatened to freeze your finance account, if we would not sign an agreement to not sell a product that was against our policy anyway. Our local rep was excellent, as you can see most positive reviews are about the Reps. Don’t confuse those reviews with the corporation which is very disreputable. Fortunately for us we keep all emails as I was able to take that to our bank to stop them from continually taking money from our account that they were not entitled to. Extremely anti-second Amendment !!!

A “B” Performance Overall

Given iTransact’s clean complaint record, we have lowered the BBB’s rating to a “B”, but readers should note that there is reason to be skeptical of the BBB’s reviews.

Google Maps Rating for iTransact

iTransact has a 2.3 out of 5 star rating based on 15 user reviews on Google Maps.

Positive Feedback

Itransact is perfect for my business. I love how I am easily able to re-run clients cards. The best part is I have all funds the next business day. I have another merchant service for another business and it typically takes 2 to 3 days to get the funds. I would recommend Itransact.

Negative Feedback

They charge more than the company I’m with now by twice as much when I called to cancel my account and said that they had been charging me for nothing the girl on the line snickered at me and was extremely rude highly recommend go with a different company I’ve never left a review before but feel this company deserves a bad review

Processing Rates & Fees

iTransact Contract Details

As outlined in the standard iTransact Terms & Conditions and merchant application, iTransact provides a three-year agreement via NPC, automatically renewable for two-year terms. The contract encompasses an early termination fee of $125, an annual fee of $59.95, a monthly minimum fee of $25, and a PCI compliance fee ranging from $90 to $165 per year. Additionally, there’s an on-file fee of $9.95 per month. The contract specifies a “base credit rate” of 2.19% plus $0.20, with a non-qualified exception potentially leading to a rate of 3.05% plus $0.19.

However, iTransact resells merchant accounts from various large payment processors, resulting in potential variability in contract terms based on client size, business type, and tenure.

Concerns Regarding Contracts

Current iTransact reviews highlight concerns about pricing and billing practices, particularly elevated monthly fees, unexpected add-on services, and post-account closure billing. The iTransact contract likely involves a combination of standard service length, setup fee, early termination fee, PCI Compliance fee, monthly minimum fee, or rate structure. We do not find iTransact’s contract terms competitive with the most affordable merchant accounts. We also encourage business owners to explore our list of the top-rated merchant accounts.

Lawsuits & Legal History

Our investigation did not uncover any significant class-action lawsuits or Federal Trade Commission (FTC) complaints targeting iTransact. Clients looking for resolution without resorting to legal action are advised to report their issues to appropriate regulatory authorities.

Employee Reviews & Sales Practices

In-House Sales Team

iTransact appears to employ salaried in-house sales agents to market its services, and there is no indication at this time that the company hires independently contracted agents. However, there are a few iTransact reviews that accuse the company’s sales team of unethical conduct, and some clients express initial surprise at higher-than-expected setup costs. These clients all go on to add that their confusion over these costs was quickly resolved by excellent customer service. This compares favorably to our list of best credit card processors.

No Deceptive Advertising

As an additional point in the company’s favor, the iTransact website does not appear to engage in any deceptive advertising strategies. If you suspect that iTransact is charging you undisclosed fees, we recommend seeking a third-party statement audit to find and eliminate hidden charges.

iTransact Competitors

Compare iTransact to competitors that earned top marks.

Bottom Line

iTransact has established itself as a reliable credit card processing provider. The company operates by reselling the merchant services of several large processors, a strategy that has not hindered its ability to maintain a commendably low rate of customer complaints. This suggests that iTransact is effective in managing its partnerships and maintaining service quality across various platforms.

Due to the highly variable nature of the contract terms that iTransact offers, it is crucial for business owners to thoroughly review any contract details before committing. Since terms can vary significantly, negotiating all aspects of the contract to secure the most favorable terms is strongly recommended. Additionally, businesses should undertake a comparison of iTransact’s services against those provided by top-rated credit card processors to ensure they are receiving competitive and suitable offerings for their specific needs.

Read Actual User Reviews

All user reviews have been moved to our partner, PaymentPop.com

Contact iTransact

Contact & Customer Support
Co-founderStephen Hall
Headquarters286 South 200 West Suite 210 Farmington, UT 84025
Toll-Free Customer Support(800) 369-6451
Websitegateway.itransact.com