The Transaction Group 2023: Reviews & Complaints

The Transaction Group Logo
5/5
full star idicating a 5 out of 5 star rating full star idicating a 5 out of 5 star rating full star idicating a 5 out of 5 star rating full star idicating a 5 out of 5 star rating full star idicating a 5 out of 5 star rating

How did they treat you? ▼

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 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 are currently unable to locate any negative The Transaction Group reviews outside of the Better Business Bureau, which is a good sign that the company is not a scam or a ripoff. The Transaction Group has multiple backend processing partners, which makes it likely that each merchant will have a different point of contact for his or her customer service. If you have your own The Transaction Group review to make, please do so in the comments below.

The Transaction Group Lawsuits

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

The Transaction Group Customer Support Options

The Transaction Group lists a general phone line and contact form, but there is no indication that the company is on the same level as top-rated payment processors for customer service. The company’s clean complaint record across all consumer protection sites inclines us to award it an “A” in this category.

The Transaction Group Customer Service Numbers

  • (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

There is not a great deal of publicly available information regarding the standard Transaction Group contract. A copy of the company’s debit card processing application shows a per-transaction fee of $0.25, a monthly service fee of $10, a chargeback fee of $35, and a PCI non-compliance fee of $35. This document does not specify an early termination fee, a PCI compliance fee, or a monthly minimum fee, but these costs may apply to clients in some cases.

Virtual Terminal and Payment Gateway Pricing

In addition to its storefront payment processing services, The Transaction Group also dedicates a portion of its website to advertising its virtual terminal and payment gateway. However, pricing is not disclosed on either of those services. The company’s merchant contract references the “GLP Switch” gateway as a primary option, though it also allows for alternatives. Pricing on the GLP Switch payment gateway is not readily available. Additional rates and fees, including gateway fees, technical support fees, batch fees, and additional transaction rates typically apply to these e-commerce services.

High-Risk Expectations

High-risk and international businesses that apply for a merchant account through the company should typically expect higher per-transaction fees and stricter processing limits. There are no public complaints filed about The Transaction Group’s contract terms at this time, so we will assume that the company’s clients are generally satisfied with the rates and fees they pay.

The Transaction Group e-commerce
The Transaction Group offers access to payment gateways as part 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 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.

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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?

Tell Us How They Treated You

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