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TransGlobal Payment Systems Review

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TransGlobal Payment Systems Overview

Rating

5/5
TransGlobal Payment System
Website
(866) 808 2241

Most Recent Comment

  • Suzanne B.:
    "Yes I would like to leave a review as I think TransGlobal is the best processor that I've ever used! Great Customer Service and if you open ..." Read More
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Rating:
5/5
TransGlobal Payment System
View Rates & Fees
(866) 808 2241

Most Recent Comment

  • Suzanne B.:
    "Yes I would like to leave a review as I think TransGlobal is the best processor that I've ever used! Great Customer Service and if you open ..." Read More
    Reply Leave Your Own Comment
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A First Data Reseller

TransGlobal Payment Systems is a merchant account provider based in Houston, Texas. The company formerly operated under the name of Five Star Merchant Services. TransGlobal is a reseller of First Data contracts, although the company’s website lists other partners including TSYS, Global Payments, and Chase Merchant Services. The company advertises Clover and its own proprietary model of POS solutions named Trans POS.

TransGlobal Payment Systems Location and Ownership

TransGlobal is a registered ISO/MSP of Wells Fargo Bank, N.A., Concord, California, with headquarters at 2600 S Gessner Rd #504, Houston, Texas, 77063. Shuaib Bombaywala is the CEO of TransGlobal.

TransGlobal Payment Systems Review Table of Contents

  • Costs & Contract: TransGlobal Payment Systems appears to offer variable contract terms through multiple backend processors.
  • Complaints & Service: TransGlobal Payment Systems has received fewer than 10 public complaints.
  • BBB Rating: TransGlobal Payment Systems has an “A+” rating and has received 0 complaints in the past 3 years. The company has been accredited by the Better Business Bureau since 2015.
  • Sales & Marketing: TransGlobal Payment Systems hires independent sales representatives but has not received any complaints about its sales practices.
  • Rates & Fees: How Merchants Got The Best Rates With TransGlobal Payment Systems
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TransGlobal Payment Systems Rates, Fees, and Costs

TransGlobal Payment Systems Rates, Fees, and Costs

Cost Summary

Swiped Rate 1.00% - 4.99%
Keyed-in Rate 1.00% - 4.99%
Virtual Terminal Rate 1.00% - 4.99%
Payment Gateway Fee Undisclosed
Early Termination Fee Up to $495
PCI Compliance Fee Up To $19.95 Per Month
Equipment Lease Terms 48 Month (locked)

Variable Contract Terms

There is no specific information available regarding the standard TransGlobal contract at this time, but the company’s partnerships with various large processors makes it likely that it can offer a First Data, Global Payments, TSYS, or Chase Paymentech contract. The pricing and fees available through these providers can vary greatly depending on a merchant’s size, business type, and time in business, as well as the agent setting up the account. Generally speaking, the standard contract terms provided through these companies will be multiyear terms with variable early termination fees (ETFs) and potential PCI Compliance fees.

Virtual Terminal and Payment Gateway Pricing

In addition to its storefront payment processing services, TransGlobal Payment Systems also dedicates a portion of its website that advertises its virtual terminal and payment gateway services. However, pricing on either of those services is not disclosed. Additional rates and fees, including gateway fees, technical support fees, batch fees, and additional transaction rates typically apply to these e-commerce services.

Level 2 and Level 3 Processing Services

In addition to its traditional merchant services, TransGlobal Payment Systems also advertises that it provides level 2 and level 3 processing for b2b and b2g transactions. Level 2 and level 3 processing rely upon different interchange rates than traditional consumer credit transactions. Accommodating those rates requires different payment processing technology from a merchant account provider to transmit the amount of data required to facilitate the transactions. These services are reserved for b2b and b2g purchases that utilize corporate credit cards.

Few Contract Complaints

We’ve found one contract-related complaint filed against the company’s former name of Five Star Merchant Services (this complaint did not name any specific figures) and one complaint filed against TransGlobal regarding a $200 fee charged in the first month of service (mentioned elsewhere in this review). If you have any information regarding the standard TransGlobal Payment Systems contract at this time, please share it in the comment section of this review. For now, the company seems to offer neither the cheapest pricing available nor the most expensive.

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TransGlobal Payment Systems BBB Rating Summary

BBB Summary

Product & Service Complaints 0
Billing & Collection Complaints 0
Advertising & Sales Complaints 0
Guarantee & Warranty Complaints 0
Delivery Complaints 0

Clean Complaint Record

TransGlobal currently has an “A+” rating with the Better Business Bureau and has been accredited since March 2015. The company is showing 0 BBB complaints in the last 36 months. It is also not showing any informal reviews on its profile, although it should be noted that these reviews are not subject to verification by the BBB.

An “A” Performance

Given the company’s clean complaint record, we agree with the BBB’s rating at this time. However, merchants should note that there are good reasons to be skeptical of the BBB’s rating system.

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Truth In Marketing & Advertising

Key Points

Employs Independent Resellers Yes
Advertises Deceptive Rates No
Discloses All Important Terms No

Outside Sales Team

TransGlobal appears to utilize independent sales agents and ISOs to market its services. This practice is common within the credit card processing industry and is usually a contributing factor to high complaint totals against a company. However, there is only one publicly listed negative TransGlobal review, found in the comment section below, that describes deception by the company’s sales agents. The merchant in this case claims that a $200 fee was not disclosed before signing up.

No Deceptive Quotes

As a point in the company’s favor, the TransGlobal website is devoid of misleading promotions. We therefore award TransGlobal an “A” in this category. However, if you suspect that TransGlobal is sneaking hidden fees into your contract, you can double-check your monthly bill with a third-party statement audit.

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Sales & Marketing Example

Our Opinion Of TransGlobal Payment Systems

TransGlobal Payment System

A Solid Option for Most Business Types

TransGlobal Payment Systems rates as a reliable merchant services provider according to our rating system. Although we do not have access to specific contract details about the company at this time, there are only a few public complaints filed against the company and no indication that it engages in deceptive sales tactics. The company’s score may change as it establishes a larger merchant base and a reputation within the industry. For now, merchants are encouraged to compare TransGlobal’s pricing to that offered by top-rated merchant account providers.

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About Phillip Parker

Why I'm Qualified to Write About Credit Card Processing

I’m a small business owner who previously worked in the credit card processing industry. I started this blog in 2009 to help other business owners by exposing credit card processors that engage in unethical marketing, rate and fee trickery, and fine-print-contract schemes. Over the last decade, I’ve reviewed hundreds of merchant services providers which has helped to educate over 5 million businesses on the nuances of credit and debit card acceptance. I’ve appeared in the New York Times, Los Angeles Times, Inc. Magazine and a host of other publications to offer insight on the subject of card acceptance. 

I offer merchant account and credit card processing consultation for the following needs:

  • Selecting the right credit card processing services for your business.
  • Reducing credit card processing fees with your current merchant account provider.
  • Negotiating credit card processing fees when changing merchant accounts.
  • Strategies for reducing and recovering funding holds and chargebacks.

 

Schedule a call with me today!

 

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Leave Your Review For TransGlobal Payment Systems

4 Responses

  1. Yes I would like to leave a review as I think TransGlobal is the best processor that I’ve ever used! Great Customer Service and if you open an account you will be charged monthly fee thats in the agreement that you sign. I was told if you close to call in and send a sign letter to close they will work with you. As a business owner I check my bank account everyday. Also, if you buy a machine you will be charged. I feel they are the best for the low rates and great customer service and being local and coming out to my business to train you don’t get this anymore. I give them a Five star if I could rate them.

    Reply

  2. I was charged for the last 10 months for services I did not receive. I closed my company but was still charged a monthly fee even though I had not processed one payment. I was told and I quote “ We figured if you didn’t notice you were being charged the first 2 months we figured you were ok with us billing you!” I was recovering from heart surgery!! They refused to refund me the money they stole from me. TERRIBLE customer service!! RUN.. DO NOT USE Transglobal!!

    From The Editor
    This Post Might Help: Best Merchant Accounts for Great Customer Service

    Reply

  3. Fraud. Didn’t use the machine for less then two weeks and they charged me $200.00. When calling to talk to someone they put me on hold or said they were out of the office. if you are considering using there service be careful. don’t fall for there sales tactics like i did. They are fraud and a scam. They charge to much in fees compared to others and will take money out of your account if you do not use there equipment for two weeks. Buyer beware it is a scam.

    Reply

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