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iTransact Credit Card Processing 2023: Reviews & Complaints
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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.
Before we dive in, here’s a short summary of what we’ll cover:
- iTransact’s various payment processing services.
- The company has not received many complaints in recent years. Past complaints often mention being charged unexpectedly.
- The company’s contract is through National Processing Company and appears to contain some expensive fees.
iTransact Payment Gateway
iTransact offers a virtual terminal that allows for the processing of multiple transaction types through a single interface. This includes handling partial approvals and the option to use a USB swiper in retail situations. The virtual terminal is designed to be intuitive and user-friendly.
Recurring Payments and Invoicing
The platform supports the setup of recurring payments on schedules such as monthly, weekly, or daily. Customers can update their billing information directly via a link in their recurring receipts. iTransact also provides the ability to send invoices and receive payments in multiple languages, with notifications sent to the merchant when payments are made.
Reporting and Batch Uploads
iTransact enables the generation of transaction reports in various formats like CSV, XML, or QIF, based on multiple search terms. Additionally, merchants can upload batch files containing transaction information, which iTransact processes in the background, notifying the merchant upon completion.
Advanced User Controls and API
The service offers advanced user controls, including the creation of custom roles to comply with Sarbanes-Oxley regulations. Their powerful API can be used for all transaction types, managing recurring payments, and checking the status of previous transactions.
Account Management and Payment Form Generators
Merchants can manage various gateway account settings, such as accepted payment types, fraud controls, email settings, and API keys. iTransact also provides payment form generators to create ready-to-submit forms, aiding in quick setup.
Security and Compliance
iTransact, under Payroc LLC, is fully compliant with PCI DSS standards, ensuring the security of cardholder data. They emphasize the importance of adhering to industry security standards to maintain customer trust and data integrity.
Location & Ownership
iTransact is a registered ISO/MSP of Fifth Third Bank, Cincinnati, Ohio; Wells Fargo Bank, N.A., Concord, California; and MB Financial Bank N.A.; Rosemont, Illinois, and is located at 286 South 200 West Suite 210 Farmington, UT 84025. LinkedIn lists Ryan Burgon as owner, though this is not corroborated elsewhere, and Stephen Hall is listed as a co-founder of iTransact.
Table of Contents
iTransact Customer Reviews
Here's What Their Clients Say
|Total Online Complaints||<10|
|Live Customer Support||Yes|
|Most Common Complaint||N/A|
Low Complaint Volume
We are currently able to locate a handful of iTransact reviews, some of which accuse the company of being a ripoff or a scam. The available iTransact complaints mention high prices, billing errors, and poorly disclosed add-on fees. Since the company resells the services of multiple processors, it is possible that some client complaints are redirected to these other companies’ online profiles. At this time, however, there appear to be mixed reviews of the service and support offered by iTransact itself. We are awarding the company an “A” rating in this category due to the low overall volume and frequency of these reports. If you have your own iTransact review to make, please do so in the comments below.
iTransact Lawsuits and Fines
We have not found any outstanding class-action lawsuits or FTC complaints filed against iTransact. Dissatisfied clients who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations.
iTransact Customer Support Options
The iTransact website lists a dedicated support email address and general phone line, and a few iTransact reviews have praised the company’s effective customer service department.
iTransact Customer Service Number
- (800) 369-6451 – Toll-Free Customer Support
Other Support Options
- Customer service email address at [email protected]
However, the company’s support channels are not enough to qualify it as a top-rated merchant account provider for customer service.
iTransact Online Ratings
Here's How They Rate Online
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.
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.
iTransact Fees, Rates & Costs
A Closer Look at The Contract
|Monthly & Annual Fees||Yes|
|Processing Rates||3.05% + $0.19|
According to a copy of the standard iTransact Terms & Conditions and merchant application, the company offers a three-year agreement through NPC with automatic renewal for two-year terms, an early termination fee of $125, an annual fee of $59.95, a monthly minimum fee of $25, a PCI compliance fee of either $90 or $165 per year, and an on-file fee of $9.95 per month. This agreement reflects a “base credit rate” of 2.19% plus $0.20. The contract also includes a non-qualified exception to non-qualified businesses, meaning the rate could be as high as 3.05% plus $0.19.
However, iTransact resells the merchant accounts of several very large payment processors. As a result, the iTransact contract terms are likely to vary significantly depending on a client’s size, business type, and time in business.
There are currently a few iTransact reviews about the company’s pricing and billing practices, specifically with regard to high monthly fees, unannounced add-on services, and billing after account closure. It is likely that the iTransact contract includes some combination of a single standard service length, setup fee, early termination fee, PCI Compliance fee, monthly minimum fee, or rate structure. We do not consider iTransact’s contract terms to be competitive with the cheapest merchant accounts. We also encourage business owners to check out our list of the providers of the best merchant accounts.
iTransact Employee Reviews & Sales Tacitcs
Should You Work For Them?
|Uses Independent Resellers||No|
|Discloses All Important Terms||No|
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.
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