Paperless Transaction Corporation Review

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Credit Card Processors
Paperless Transaction Corporation Logo

Paperless Transaction Corp

"B" Credit Card Processor Rating
Last Updated: February 6, 2014
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Paperless Transaction Corp Overview

Paperless Transaction Corporation Logo

Paperless Transaction Corporation Logo

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. Founded in 1998, the company offers credit card processing, gift cards, electronic check conversion, and fundraising tools. Paperless Transaction Corporation was originally founded as an ACH processing service for the retail business community and non-profit sectors, but it has since expanded to other types of payment processing. Paperless Transaction Corp is a registered ISO/MSP of Wells Fargo Bank, N.A., Walnut Creek, California, and the company is located at 400 E Royal Ln, Suite 201, Irving, Texas 75039.

Paperless Transaction Sales & Marketing Tactics | A

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 changed after a period of service or whether they were initially concealed by a sales agent is not specified. The Paperless Transaction Corporation website does not appear to engage in any deceptive advertising strategies.

Paperless Transaction Costs & Contract Terms | C

The standard Paperless Transaction Corporation terms of service (available below) include a three-year agreement through Chase Paymentech with a $250 early termination fee plus Liquidated Damages related to stored value (gift cards) payment processing fees. 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. Some merchant complaints mention a $90 annual fee.

As noted above, the early cancellation penalty in this 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 a below average “C-.”
Paperless Transaction Company Paymentech Terms and Conditions

Paperless Transaction Complaints & Service | B

We are currently able to find three Paperless Transaction Corporation complaints online, one of which openly describes the company as a scam. 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 communication channel for customer support, indicating that this may be outsourced to Chase Paymentech.

Paperless Transaction Corp BBB Report | A-

Paperless Transaction Corporation is not an accredited business with the Better Business Bureau (BBB). As of this review, the company has an “A-” rating with the BBB (up from a “C” at the time of our last update) and has had four complaints filed against it in the last 36 months. All of the complaints stemmed from billing or collection issues. Of the total complaints, three have been successfully resolved while one resolution left the merchant dissatisfied. In light of these figures, we agree with the BBB’s rating of “A-.”

Bottom Line

Paperless Transaction Corporation rates as an average merchant services provider according to our criteria. The company’s rating suffers from its contract terms and its slowly improving BBB profile, 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.

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1 comment

  1. 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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