The Transaction Group Reviews & Complaints

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Overview

The Transaction Group provides credit card processing services for a variety of businesses, including those in high-risk industries. This article will review the company's services, pricing structure, contract terms, and customer feedback. We will examine the transparency of their fees, the quality of their customer support, and the overall satisfaction levels reported by their clients. By the end of this article, you will have a clear understanding of what The Transaction Group offers and whether their services align with your business's payment processing needs.

About The Transaction Group

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 Products and Services

Payment Processing

The Transaction Group (TTG) handles payment processing for both standard and high-risk businesses, accepting all major debit and credit cards. Their services encompass e-commerce solutions, mobile payments, quick settlements within 3-4 days, no reserve requirements, ACH and e-check processing, and a payment gateway.

High-Risk and Cannabis Industry Solutions

TTG specializes in high-risk industries, including the cannabis sector. Since 2012, they have been setting up medical and recreational marijuana dispensaries with debit and credit card processing solutions.

Online/E-commerce Services

TTG provides payment gateway and processing services for online businesses. For situations where a traditional merchant account isn't feasible, they offer alternative payment processing solutions.

ACH and E-Check Processing

TTG's ACH and e-check processing solutions are particularly suited for high-risk industries that operate online, offering a domestic payment processing option.

Merchant Cash Advance

TTG offers a merchant cash advance program to provide businesses with quick and convenient working capital.

Point-of-Sale Systems

In collaboration with its partners, TTG provides point-of-sale (POS) systems tailored to various business needs as part of their comprehensive service offerings.

Rate Analysis and Customer Service

TTG offers a free rate analysis to help businesses save up to 25% on existing rates and fees. The company emphasizes customer satisfaction and provides support beyond regular business hours.

The Transaction Group payment processing
The Transaction Group specifically advertises that they service high-risk businesses

The Transaction Group Customer Reviews

Here's What Their Clients Say

Customer Reviews Summary
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

The Transaction Group Online Ratings

Here's How They Rate Online

Online Ratings Summary
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

Cost & Fees Summary
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 e-commerce
The Transaction Group provides payment gateway access as a key component of its e-commerce solutions.

The Transaction Group Employee Reviews & Sales Tacitcs

Should You Work For Them?

Jobs & Marketing Summary
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. Despite its focus on serving high-risk and international merchants, the company maintains a low complaint rate overall. This strong track record, along with its specialization in medical marijuana payment processing, positions it as a top choice for businesses in need of reliable and secure transaction services.

However, given the nature of high-risk industries and international transactions, it’s crucial for business owners to carefully review all documentation before applying for a merchant account. By doing so, merchants can ensure that they fully understand the contract terms and are aware of any fees or requirements associated with the service. Comparisons with other top-rated providers can help businesses make informed decisions tailored to their specific needs.

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.

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Which is Most Important for You?

If you had to pick one, which quality would you say will be the most important with your next credit card processor? Tap or click your selection to register your vote:

  1. Low Transaction Fees
  2. No Monthly Fees
  3. No Contract
  4. Reliable Customer Support
  5. Quick Signup

Testimonials & Complaints

How Did The Transaction Group Treat You?

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Copyright

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