Paperless Transaction Corporation Review


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. 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. Paperless Transaction Corp is a registered ISO/MSP of Wells Fargo Bank, N.A., Walnut Creek, California, and the company is located at 433 E. Las Colinas Blvd, Suite 840, Irving, Texas 75039. George Reich is listed as the president and CEO of Paperless Transaction Corporation.

Key Points

  • Sales & Marketing: Paperless Transaction Corporation does not engage in unethical sales tactics and has received only a few complaints about its sales team.
  • Costs & Contract: Paperless Transaction Corporation offers multiple monthly pricing tiers and charges a per-transaction rate of interchange plus 0.5%.
  • Complaints & Service: Paperless Transaction Corporation has received fewer than 10 complaints.
  • BBB Rating: Paperless Transaction Corporation has an “A+” rating with the Better Business Bureau and has received three complaints in the last three years.
  • Rates & Fees: How Merchants Got The Best Rates With Paperless Transaction Corporation

Paperless Transaction Corporation Products and Services


  • Retail
  • E-commerce
  • Mobile
  • Non-profit

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Sales & Marketing

Key Points - Sales & Marketing

Employs Independent Resellers Yes
Advertises Deceptive Rates No
Discloses All Important Terms Yes

Paperless Transaction Corporation appears to market its services through telemarketing, its client network, and its website. It is unclear at this time whether the company employs independent sales agents. We are currently able to locate three negative Paperless Transaction Corporation reviews that mention undisclosed fees, although whether these fees were altered after a period of service or whether they were initially concealed by a sales agent is not specified.

The Paperless Transaction Corporation website currently lists the company’s rates and fees for the public to view. Its rate calculator presents a slightly confusing breakdown of its per-transaction pricing. In the table featured prominently on the page, the company’s per-transaction rate is listed as 1.75% plus $0.22. However, a bullet point beneath that table states that “We only charge you what the card-issuing banks charge us (a wholesale rate).” Further down, another bullet point states that “No matter how the card was processed (Swiped, Keyed, Internet, etc.), we only charge .5% above the Interchange rate to process the transaction.” So on the same page, the company claims to charge a flat per-transaction rate, to only charge interchange, and to charge interchange plus 0.5%.

A company representative has confirmed that the company’s true per-transaction rate is interchange plus 0.5%. The 1.75% plus $0.22 rate reflects Paperless Transaction Corporation’s estimate for the average merchant’s effective rate based on blended interchange rates. This rate may or may not be close to each merchant’s actual rate, so we consider it unreliable and even slightly misleading. Overall, the contradictory nature of this page has the potential to confuse merchants. Merchants are therefore not advised to rely on this rate calculator or cost comparison when making a decision.

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Paperless Transaction Corporation Marketing Example


Costs & Contract

Key Points - Costs & Contract

Swiped Rate Interchange + 0.5%
Keyed-in Rate Interchange + 0.5%
Early Termination Fee $250+
PCI Compliance Fee Variable
Equipment Lease Terms Variable

The standard Paperless Transaction Corporation terms of service (available below) include a three-year agreement through Chase Paymentech with a $250 early termination fee, a variable monthly fee (outlined below), a per-transaction rate of interchange plus 0.5%, a per-transaction ACH fee of $0.35, and a Liquidated Damages fee related to stored value (gift cards) payment processing fees. All other fees, such as PCI Compliance fees, monthly minimum fees, and individual rates, are not included in the company’s terms and conditions but can be found in Schedule A of a merchant’s application or agreement. However, the company’s website states that it does not charge gateway fees, monthly fees, or monthly minimums. Some merchant complaints also mention a $90 annual fee.

The Paperless Transaction Corporation website lists two tiers of service intended for different sizes of non-profit organizations. The “Starter” package costs $100 for a 90-day license plus 3% of the amount raised plus processing fees and includes all of the company’s features. The “Enterprise” package costs $1,000 to set up and $75 per month plus processing fees for indefinite access to all of the company’s features.

As noted above, the early cancellation penalty in the company’s contract contract consists of $250 per merchant location plus the merchant’s stored value card processing fees from the previous month multiplied by the remainder of the contract. This second amount is not to exceed state limits on fees. While this second amount is unlikely to be very large in most cases, it is a variable and confusing expense that does not appear to be tied to the company’s actual losses in any way. As a result, we have lowered the company’s score in this section to an average rating of “C.” See the Paperless Transaction Corporation Terms and Conditions.

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Complaints & Service

Key Points - Complaints & Service

Total Online Complaints <10
Live Customer Support Yes
Most Common Complaint N/A

We are currently able to find a handful of Paperless Transaction Corporation complaints online, one of which openly describes the company as a scam. Multiple complainants report unexpected fees of $90 and $18.74, likely due to recurring fees of some sort. Merchants also report difficulty resolving their issues in a timely fashion through the company’s customer service, a theme echoed on the company’s BBB profile. Although this is a low complaint volume for the company, the specific reference to poor customer service has negatively impacted Paperless Transaction Corporation’s score in this section. In addition, the company’s website does not appear to list a dedicated phone number for customer support, indicating that this may be outsourced to Chase Paymentech or First Data.

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Key Points - BBB

Product & Service Complaints 0
Billing & Collection Complaints 2
Advertising & Sales Complaints 1
Guarantee & Warranty Complaints 0
Delivery Complaints 0

Paperless Transaction Corporation is not an accredited business with the Better Business Bureau. As of this review, the company has an “A+” rating with the BBB and has had three complaints filed against it in the last 36 months. Two of the complaints stemmed from billing or collection issues, while one was related to an advertising or sales problem. All of the complaints were either resolved to the dissatisfaction of the merchant or did not receive a final response from the merchant. In light of these figures, we agree with the BBB’s rating.

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Paperless Transaction Corporation Logo

Paperless Transaction Corporation Bottom Line

Paperless Transaction Corporation rates as an above average merchant services provider according to our criteria. The company’s rating suffers from its contract terms and a few complaints, but it does not appear to engage in deceptive advertising or have an exceptionally high complaint rate. As always, merchants are encouraged to read their contract terms carefully.

Hi, I’m Phillip Parker and I believe that the merchant account industry has been overrun by people who engage in fraud and deception in order to steal from hard working business owners. I created this website to help you avoid the bad players, save money on fees, and get peace of mind with your merchant account. If you would like to help support my work, check out my cost analysis service. I can evaluate your statement and tell you exactly how much you're overpaying for your merchant account. Get more information here.

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5 Reviews Leave Your Review Below

  1. 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!!!

    Are you with Paperless Transaction Corporation? Learn how to resolve this complaint.

    1. 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.

      1. 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.

  2. 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!!

  3. 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.

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