|Sales & Marketing|
|Costs & Contract|
|Complaints & Service|
iTransact (itransact.com) is a merchant account provider that also offers online payment gateways as a value-added service. The company resells the merchant services of several processors, including First Data, Global Payments, TSYS, and Chase Paymentech. 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 is a registered ISO/MSP of Fifth Third Bank, Cincinnati, Ohio, and is located at 314 South 200 West, Farmington, Utah 84025-0999. Stephen Hall is listed as the CEO of iTransact.
|iTransact Products and Services||Industries Served|
|Key Points – Sales & Marketing|
|Uses independent resellers?||No|
|Promotes deceptive rate quotes?||No|
|Discloses all important terms?||No|
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. We are currently unable to locate any iTransact reviews that accuse the company’s sales team of unethical conduct, but a few merchants express initial surprise at higher-than-expected setup costs. These merchants all go on to add that their confusion over these costs was quickly resolved by excellent customer service. As an additional point in the company’s favor, the iTransact website does not appear to engage in any deceptive advertising strategies.
|Key Points – Costs & Contract Terms|
|PCI compliance fee:||Variable|
iTransact resells the merchant accounts of several very large payment processors. As a result, its contract terms are likely to vary significantly depending on a merchant’s size, business type, and time in business. It is unlikely that the company has a single standard service length, setup fee, early termination fee, PCI Compliance fee, monthly minimum fee, or rate structure, but merchants can expect to see some or all of these expenses and terms in their agreements. There are currently no complaints on any of the usual consumer protection websites that mention specific issues with iTransact’s contract terms, indicating that most of the company’s clients are satisfied with their service. If you have any specific knowledge of iTransact’s contract terms, please leave that information in the comment section of this review.
|Key Points – Complaints & Service|
|Live customer support:||Yes|
|Most common complaint:||N/A|
We are currently unable to locate any iTransact complaints that accuse the company of being a ripoff or a scam. In fact, the company is not showing any complaints online whatsoever, and there are several positive testimonials that praise iTransact’s customer service. Since the company resells the services of multiple processors, it is possible that some merchant complaints are redirected to these other companies’ online profiles. At this time, however, we can locate only positive descriptions of the service and support offered by iTransact itself. We are therefore awarding the company an “A+” rating in this category.
|Key Points – BBB Report|
As of this review, iTransact has a Better Business Bureau rating of “B-” with three complaints filed within the last 36 months. The company is not accredited with the BBB. Two complaints have been filed regarding billing and collection disputes, while one pertains to a product or service issue. Two complaints have been successfully resolved, while one has not received any response from iTransact. It is possible that the company is in the process of resolving this third complaint, as it was filed less than a week before this article’s publication. Nevertheless, the BBB currently cites this lone unresolved complaint as the primary factor lowering the company’s grade. We have adjusted the BBB’s rating to an “A” based on how our criteria would score the company.
* Denotes CPO-adjusted BBB score
Related: Best Processors For E-Commerce
This review was originally published on 6/14/11 and was last updated on 4/20/15.
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