Note: As of July 2021, the T1 Payments website is no longer functioning. This comes soon on the heels of multiple lawsuits being brought against the company and may likely be related. We will update this profile as details come to light.
Global E-Commerce Processing
Headquartered in Las Vegas, Nevada, T1 Payments is a merchant account provider that serves standard and high-risk e-commerce businesses in the U.S. and across the globe. The company may also operate under the name “7 Processing.”
Location and Ownership
T1 Payments does not list its acquiring bank on its website, but it is likely that the company has partnered with multiple banks around the world in order to facilitate offshore payments. The T1 Payments website lists addresses at 10161 W Park Run Drive, Suite 150, Las Vegas, Nevada 89145. However, we have uncovered reports that T1 Payments has used shell corporations to essentially move its business to Europe, where it is currently involved in a lawsuit over an alleged MLM scheme. A further note made by an individual connects a Brandon Chapnick to T1 Payments and gives evidence that Chapnick, who was sued by the FTC in 2016 over illegal health supplement claims, uses the same European address as T1 Payments. There are multiple reports about the company’s founding year, with the company’s Facebook page listing a 2012 foundation and the company’s LinkedIn page claiming a 2010 establishment. Donald Kasdon was the last listed CEO of T1 Payments. The Better Business Bureau lists Debra K. King as the current manager and principal. However, another recent article lists Donald Kasdon as the principal.
T1 Payments Review Table of Contents
- Costs & Contract: T1 Payments appears to offer month-to-month contracts with interchange-plus pricing to standard risk merchants, while high-risk merchants receive 36-month contracts with liquidated damages style early termination fees.
- Complaints & Service: T1 Payments has received more than 10 public complaints.
- BBB Rating: T1 Payments has an “A+” rating with the Better Business Bureau and has received 6 complaints and 9 reviews in the last 3 years.
- Sales & Marketing: T1 Payments appears to hire independently contracted sales agents and has received two complaints about its sales team.
- Rates & Fees: How Merchants Got The Best Rates With T1 Payments