Paperless Transaction Corporation 2023: Reviews & Complaints

Paperless Transaction Corporation
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Paperless Transaction Corporation

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PhonePhone(877) 869-7115 View Pricing

Company Overview

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.

Paperless Transaction Corporation Payment Processing

Paperless Transaction Corporation appears to process most major debit and credit cards as well as checks. Their services seem to primarily be in providing payment/fundraising software for churches and non-profits, including payment data reporting and analysis.

Paperless Transaction Corporation: ACH Processing

ACH (Automated Clearing House) processing is another service offered by Paperless Transaction Corporation. This service allows businesses to handle electronic payments directly from bank accounts, providing an additional payment method that could be preferable for certain customers or transaction types.

Paperless Transaction Corporation: Mobile Payment Solutions

For businesses that need to accept payments on the go, Paperless Transaction Corporation provides mobile payment solutions. This allows for payment processing through mobile devices, which could be beneficial for businesses operating outside of traditional retail environments or requiring flexible payment options.

Paperless Transaction Corporation: Online Giving Solutions

Paperless Transaction Corporation offers online giving solutions, a service that may be particularly useful for non-profit organizations. This allows organizations to accept donations online, providing a convenient and potentially far-reaching method of fundraising.

Paperless Transaction Corporation: Donor Management Software

In addition to payment processing services, Paperless Transaction Corporation provides donor management software. This service helps organizations manage and track their relationships with donors, potentially aiding in fundraising efforts and donor retention.

Location & Ownership

Paperless Transaction Corp is a registered ISO/MSP of Wells Fargo Bank, N.A., Walnut Creek, California, and the company is located at 550 Reserve Street, Suite 190 – #74 Southlake, TX 76092. George Reich is listed as the president and CEO of Paperless Transaction Corporation.

Table of Contents

Paperless Transaction Corporation Customer Complaints & Reviews

Here's What Users Think

Complaint Summary

Total Online Complaints
Live Customer Support
Most Common Complaint
Recent Lawsuits

Low Complaint Total

We are currently able to find a handful of negative Paperless Transaction Corporation reviews 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. Clients 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. If you have your own Paperless Transaction Corporation review to make, please do so below.

Paperless Transaction Corporation Lawsuits and Fines

We have not found any outstanding class-action lawsuits or FTC complaints filed against Paperless Transaction Corporation. Dissatisfied clients who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations.

Paperless Transaction Corporation Customer Support Options

Although there 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. Customer service may be outsourced to Chase Paymentech or First Data (Fiserv).

Paperless Transaction Corporation Customer Service Numbers

  • (877) 869-7115 – Toll-Free Customer Support
  • (877) 218-6130 – Fax

Other Support Options

These support options fall short of what we expect from top-rated merchant accounts for customer service.

Paperless Transaction Corporation BBB Rating and Report

Our Better Business Bureau Profile Assessment

BBB Summary

BBB Reports

Under 10 Complaints

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 1 complaint filed against it in the last 36 months.

What Merchants Say

Paperless Transaction Corporation has no current reviews with the BBB. One older complaint did mention continued charges after account cancellation:

We have changed to a different credit card company and we tried numerous times and left messages and tried told this company to stop charging. They continue to charges eventhough we are not using them. They continue to withdraw from our bank onthly.

Clients who find themselves in this situation may benefit from taking the proper steps to cancel their merchant account without paying a fee.

An “A” Rating

In light of the low complaint volume, we agree with the BBB’s rating.

Paperless Transaction Corporation Fees and Rates

A Closer Look at the Contract

Cost Summary

Cancellation Penalties
Monthly & Annual Fees
Processing Rates
Interchange + 0.5%
Equipment Leasing

Paperless Transaction Corporation Pricing

The standard Paperless Transaction Corporation terms of service 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 client’s application or agreement. However, the company’s website states that it does not charge gateway fees, monthly fees, or monthly minimums. Some client complaints also mention a $90 annual Paperless Transaction Corporation fee.

Three Plans

The Paperless Transaction Corporation website lists three 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 ongoing giving campaigns. The “Premium” package costs $5,000 to set up and $250 per month along with processing fees, and like the “Enterprise” package, it does not have a usage fee.

Early Termination Fees

As noted above, the early cancellation penalty in the Paperless Transaction Corporation contract consists of $250 per business 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.” Businesses are more likely to see savings with a top-budget merchant account providerSee the Paperless Transaction Corporation Terms and Conditions.

We also encourage business owners to check out our list of the providers of the best merchant services.

Paperless Transaction Corporation Jobs and Employment

Hiring Standards and Ethical Marketing Assessment

Key Points

Uses Independent Resellers
Misleading Marketing
Discloses All Important Terms

Sales Approach

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.

This does not compare favorably to our list of best credit card processors.

Confusing Pricing Breakdown

The Paperless Transaction Corporation rates and fees are listed on their website for the public to view. Its rate calculator previously presented 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. At the time of our last update, a bullet point beneath that table stated that “We only charge you what the card-issuing banks charge us (a wholesale rate).” Further down, another bullet point stated 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 claimed to charge a flat per-transaction rate, to only charge interchange, and to charge interchange plus 0.5%.

Misleading Rate Quote

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 client’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. Business owners are advised to not solely rely on this rate calculator or cost comparison when making a decision.

Paperless Transaction Corporation Review Summary

Our Final Thoughts and Opinions

Paperless Transaction Corporation rates as an above-average credit card processing provider according to our criteria, and the available evidence does not suggest that the company is a ripoff. 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. Paperless Transaction Corporation has some improvements to make if it wants to rank as a top merchant account provider for churches and for other non-profits. As always, business owners are encouraged to read their contract terms carefully.

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Customer & Employee Reviews

What Others Are Saying About Paperless Transaction Corporation

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5 Responses

  • 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!!!

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

    • 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.


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About CPO

We are committed to ensuring the accountability of credit card processors by bringing transparency to their business practices. Our primary objective is to safeguard North American businesses from unscrupulous processors that impose substantial rate markups, unjustifiable fees, and exploitative contracts that result in annual losses of billions of dollars for small business owners.

We have been in operation since 2009, diligently conducting comprehensive research, publishing extensive reviews, and monitoring more than 1,000 payment processors. Our expertise in the merchant services industry has garnered recognition from esteemed publications such as the Los Angeles Times, INC Magazine, The Atlantic, and the Miami Herald, among others.

How We Score Processors

Please note that our rating system was overhauled on April 26th, 2023. Reviews dated before this date may not score in accordance with the following.

Star Rating Criteria:

At the start of our research, all processors are awarded five stars. We deduct stars if the processor engages in any of the following business practices:

– One star deduction if the processor has any junk fees.

– One star deduction if the processor does not post its pricing clearly on its website.

– One Star deduction if the processor is suffering from moderate client complaints.

– Multiple Star deductions if a processor is suffering from severe complaints, imposes unjust cancellation fees, markets non-cancellable equipment leases, engages in predatory rate pricing, or may be engaged in illegal activities.

Get all of the details regarding out rating criteria here.

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