Overview
In this review of Paperless Transaction Corporation, we’ll look into the services and reputation of this merchant account provider, particularly its focus on the faith-based non-profit sector. Originally an ACH processing service for the retail and non-profit sectors, the company has expanded its offerings to include major debit and credit card transactions, ACH processing, mobile payment solutions, online giving solutions, and donor management software.
We’ll cover their rates and fees, review their contract terms, and address common complaints and praises found in industry ratings and user reviews. This article will also examine their marketing tactics, customer support options, and recent legal matters, including a notable Visa & MasterCard lawsuit settlement. Finally, we’ll offer a balanced view of the pros and cons of partnering with Paperless Transaction Corporation, helping you understand their place in the competitive field of merchant services.
About Paperless Transaction Corporation
Paperless Transaction Corporation is a merchant account provider headquartered in Irving, Texas. There is some evidence that the company resells the merchant services of Chase Paymentech and First Data (now Fiserv). Paperless Transaction Corporation was originally founded in 1998 as an ACH processing service for the retail business community and non-profit sectors, but it has since shifted its focus more narrowly to the faith-based non-profit sector.
Ryan Spaulding
When you call them, you never get a live person. You always have to leave a voicemail unless you are signing up for new service. If you have a problem, they don’t call you back. I had a major problem that caused over $800 in incorrect charges. They kept bouncing me back and forth with First Data. Neither company would take ownership of the problem and every time I called I was leaving a voicemail and not getting a call back. Incredibly frustrating!!!
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Patrick Moraw
Hello All,
I’m posting this review to set the record straight. Hopefully, CPO doesn’t ban my review as it’s being left to clarify some of the inaccuracies of this Reviews page.
First, the Rates Calculator page was called confusing although the author of this webpage from CPO assessed the pricing structure quite well (so it must not be that confusing). It’s Interchange plus .5%. The comparisons on the Rates Calculator page are there to show that because (since it’s really a mathetical equation & comparison) our pricing is based on Interchange we have displayed a blended average rate so one can compare our service to other card processors’ rates.
CPO’s assessment of our cancelation policy is also incorrect. There is a $250 IF a merchant account is canceled without an advance written notice of cancelation and there are no other fees assessed.
There are a few erroneous fees mentioned in our review that are just plain wrong. We simply charge a one-time setup fee for our software, a flat monthly fee, and then Interchange plus .5%. That simple.
All of the 3 client reviews listed were resolved with the client directly as we don’t resolve issues through 3rd parties like CPO.
Hopefully, this clarifies our stance on this CPO listing for our company.
Phillip CPO
Responses to Patrick’s statements:
Regarding the Rates Calculator page, we are stating that it could be confusing to potential customer of your service. Unlike most business owners, we understand how rates are calculated and that is the reason for our correct assessment of your pricing structure. Thank you for also adding your own clarification.
We are both stating that you have a $250 cancellation fee and you are stating that there are potential arbitrary requirements to avoid it. Often, these policies result in a “ransom-style” retention program wherein a merchant must choose to continue your services or face a cancellation fee. How much advanced notice do you require and why do you require advanced notice? When you say that “there are [also] no other fees assessed,” can you clarify which fees qualify and the threshold to waive the cancellation fee?
The fees that we state that you potentially charge come either from you own documentation or customer reviews.
You state that the client complaints filed with CPO have been resolved; however, our readers should be aware that this claim is currently unverified.
Lisa Maille
We are a small nonprofit organization and we tried to use Paperless Transactions for a fundraiser. Before the fundraiser started we saw fees appearing on our bank account from Paperless Transactions and a company they use to process credit cards. We were charged over $650 when we never even processed one credit card through them!! We have tried numerous times to close the account and no one ever answers the phone (and only occasionally by e-mail). We finally received an e-mail stating if we sign a cancellation contract with them they’d be happy to close the account. We did a little research on this and found other nonprofits were being charged $250 to close their accounts!! All of this after their website clearly states that they do not charge monthly fees, gateway fees, or monthly minimums. HA! I recommend you do not put yourself through the headache that this company has caused us and go with someone else!!
Debbie Watkis
I’ve been running myself in circles for the last two weeks trying to determine why nearly $3,000 in credit card donations (we’re a charity)’ have not deposited into our checking account. Paperless Transactions sends me to Chase Payment Tech who state they have no hold on our funds and Paperless Transactions need to release. Apparently First Data would actually deposit the funds into our credit card account but state they have not received funds to deposit on our behalf. Try getting someone from Paperless Transactions on the phone is a joke. They only have voice mail and promise to call back. If you get someone to respond to your email, they don’t include a phone number.