The Transaction Group Reviews & Complaints
Company Overview
Founded in 2003, The Transaction Group is a merchant account provider that specializes in payment processing for domestic, international, and high-risk business types. It is notable for being one of the few payment processors to openly advertise debit and credit card processing services for marijuana businesses.
The Transaction Group Payment Processing
The Transaction Group processes all major debit and credit cards for standard and high-risk businesses. Their services include e-commerce solutions, mobile payments, 3-4 day settlements, no reserve requirement, ACH and e-check processing, and a payment gateway.
High-Risk and Cannabis Industry Solutions
TTG specializes in providing payment processing solutions for high-risk industries, including the cannabis sector. Since 2012, they have set up medical and recreational marijuana dispensaries with debit and credit card processing solutions.
Online/E-commerce Services
The company provides payment gateway and processing services for online businesses. If a traditional merchant account is not feasible, TTG offers alternative payment processing solutions.
ACH and E-Check Processing
TTG offers ACH and E-check payment processing solutions, which are particularly suitable for high-risk industries that operate online. This is a domestic payment processing option.
Merchant Cash Advance
The company provides a merchant cash advance program for businesses in need of working capital. This program is designed to offer quick and convenient funding with minimal hassle.
Point-of-Sale Systems
TTG and its partners offer point-of-sale (POS) solutions tailored for various types of businesses. These POS systems are part of their comprehensive service offerings.
Rate Analysis and Customer Service
TTG offers a free rate analysis to businesses and aims to save them up to 25% on existing rates and fees. The company emphasizes customer satisfaction and is available for support even after business hours.
Location & Ownership
The company is partnered with multiple international processors and acquiring banks. The Transaction Group is headquartered at 1982 Wedgewood Dr, Sanford, NC 27322, and Michael Rupkalvis is the president of The Transaction Group.
The Transaction Group Customer Reviews
Here's What Their Clients Say
Total Online Complaints | <10 |
---|---|
Live Customer Support | Yes |
Most Common Complaint | N/A |
Recent Lawsuits | No |
Clean Complaint Record
We have conducted a thorough search and could not find any negative reviews about The Transaction Group outside of the Better Business Bureau. This absence of negative feedback suggests that the company is trustworthy and not involved in any fraudulent activities. The Transaction Group collaborates with multiple backend processing partners, which may result in varied customer service experiences for individual merchants. If you have your own experience with The Transaction Group, we encourage you to share your review in the comments below.
The Transaction Group Lawsuits
As of our investigation, there are no reported class-action lawsuits or FTC complaints against The Transaction Group. Customers with grievances are advised to consider reporting their concerns to relevant supervisory organizations for appropriate action.
The Transaction Group Customer Support Options
While The Transaction Group provides a general phone line and a contact form, it does not appear to match the standards of top-rated payment processors for customer service. Nevertheless, its clean complaint record across all consumer protection platforms warrants an “A” rating in this category.
The Transaction Group Customer Service Information
- (888) 383-8056 – Toll-Free Support
- (312) 896-5628 – Fax
Other Support Options
- Support form
- Customer service via email at [email protected]
The Transaction Group Online Ratings
Here's How They Rate Online
BBB Reports | 0 |
---|
Note: We have adjusted this company’s BBB rating according to our own standards. To better understand why we adjust BBB ratings, please see our Rating Criteria.
Not Currently Rated By The BBB
The Transaction Group currently does not have a rating with the Better Business Bureau and is not showing accreditation at this time. The company has not received any complaints to its BBB profile in the past three years, nor has it received any informal reviews.
An “A” Overall
The BBB states that it lacks sufficient information about the company to assign a rating, but its system is often flawed. Given the fact that the BBB has previously assigned a rating to The Transaction Group and has had a profile for the company since July 2012, we have adjusted The Transaction Group’s rating to an “A” according to our criteria.
The Transaction Group Fees, Rates & Costs
A Closer Look at The Contract
Cancellation Penalties | Unclear |
---|---|
Monthly & Annual Fees | Yes |
Processing Rates | Variable |
Equipment Leasing | Unclear |
The Transaction Group Pricing
Public information about The Transaction Group’s standard contract is limited. The debit card processing application available from the company lists a transaction fee of $0.25, a monthly service charge of $10, a chargeback fee of $35, and a PCI non-compliance fee of $35. There is no mention of an early termination fee, a PCI compliance fee, or a monthly minimum fee in this document, though these fees may be applicable in certain situations.
Virtual Terminal and Payment Gateway Pricing
The Transaction Group also offers virtual terminal and payment gateway services, but their pricing details are not specified on the website. The merchant agreement refers to the “GLP Switch” gateway as a primary option but also accommodates other gateways. Information about the GLP Switch payment gateway’s pricing is not immediately accessible. Rates and fees for these services, including gateway fees, technical support fees, batch fees, and other transaction charges, are common for e-commerce solutions.
High-Risk Expectations
High-risk and international businesses seeking a merchant account with The Transaction Group can generally expect higher transaction fees and more stringent processing limits. Currently, there are no public complaints about the company’s contract terms, suggesting that customers are likely content with the fees and rates.
The Transaction Group Employee Reviews & Sales Tacitcs
Should You Work For Them?
Uses Independent Resellers | Yes |
---|---|
Telemarketing | No |
Misleading Marketing | No |
Discloses All Important Terms | No |
No Sales Complaints
The Transaction Group appears to primarily market its services through strategic partnerships, a referral program, and traditional advertising methods. There is no evidence that the company uses a large team of independently contracted sales agents, and we are currently unable to find any The Transaction Group reviews that accuse the company’s sales team of deceptive tactics.
No Deceptive Quotes
As an additional point in its favor, the company does not list any misleading rate quotes or unrealistic guarantees in its official materials. We have therefore assigned it an “A” rating in this category. If you suspect that The Transaction Group is charging you undisclosed fees, we recommend seeking a third-party statement audit to find and eliminate hidden charges.
Our The Transaction Group Review Summary
Our Final Thoughts
The Transaction Group rates as a reliable credit card processing provider according to our rating criteria. The company is showing a low complaint total overall despite the fact that it serves a number of high-risk and international merchants, and it remains a top choice for medical marijuana payment processing. As with any credit card processor, readers are advised to request and review all relevant documentation before applying for a merchant account.
If you found this article helpful, please share it!
Testimonials & Complaints
How Did The Transaction Group Treat You?