Note: The TransMerit Merchant Services website has been suspended for over a year, according to its domain provider. It is unclear what bearing this has on the company’s current status. Merchants with any insight into the state of TransMerit Merchant Services’ operations are encouraged to leave feedback in the comment section of this review.
Affiliation with Payment Systems Corporation
TransMerit Merchant Services is a merchant account provider that has been active since early 2015. The company’s website advertises that it was “Awarded Best Credit Card Payment Solution” though the merit of that distinction is not expounded upon. Additionally, TransMerit Merchant Services states that it has over 20 years of experience. The company also advertises Poynt and Clover as POS solutions.
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.
The company lists its address as 20 West Kinzie Street, 17th Floor, Chicago, IL, but we have found TransMerit paperwork that lists its address as 617 S Olive St #420, Los Angeles, CA. 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 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 canceling 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 with the Better Business Bureau and has received 5 complaints and 1 review in the past 3 years.
- 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