TransMerit Merchant Services Overview
Affliation with Payment Systems Corporation
TransMerit Merchant Services (transmeritmerchantservices.com) is a merchant account provider that has been active since early 2015. The company is lists its address as 20 West Kinzie Street, 17th Floor, Chicago, Illinois 60654, but we have found TransMerit paperwork that lists its address as 617 S Olive St #420, Los Angeles, California 90014. That location is only a block or two from the former headquarters of Payment Systems Corporation, a poorly rated company on CPO that is no longer in business.
TransMerit’s close proximity to Payment Systems Corporation is significant because TransMerit was co-founded by and is currently managed by George Csahiouni, a former general sales manager for Payment Systems Corporation, and up until December 2018 was co-managed by Keith Olmo, the former executive vice president of sales at Payment Systems Corporation. A number of other former Payment Systems Corporation employees also work at TransMerit. TransMerit Payment Services lists itself as “a Vantiv company” and is a registered ISO/MSP of Fifth Third Bank, Cincinnati, Ohio.
TransMerit Merchant Services Review Table of Contents
- Costs & Contract: TransMerit Merchant Services offers a multi-year contract through First Data or NPC/Worldpay with an early termination fee of $375 and a liquidated damages clause, meaning that the cost of cancelling service could exceed $1,000.
- Complaints & Service: TransMerit Merchant Services has received more than 25 public complaints.
- BBB Rating: TransMerit Merchant Services has an “A+” rating across 2 profiles with the Better Business Bureau and has received 30 complaints in the past three years. However, neither profile is accessible at the time of this review.
- Sales & Marketing: TransMerit Merchant Services appears to hire independent sales agents and has received a high number of complaints about its sales practices.
- Rates & Fees: How Merchants Got The Best Rates With TransMerit Merchant Services
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