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TransSwipe Review

Name: TransSwipe
Item: TransSwipe
Rating: 5
Author: Phillip Parker

Author: Phillip Parker

Updated: June 23, 2024

Maintained Since: October 5, 2015

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We take our role in providing guidance and education regarding the card payment industry very seriously. At our own expense, we have vigorously defended our right to continue expose unethical and predatory practices in the industry, successfully defeating every attempt to silence us. However, fending off frivolous lawsuits is costly. To sustain these efforts, one of the ways we generate revenue is through affiliate partnerships with ethical providers. This means that some of our outgoing links connect business owners to trustworthy, low-cost payment processors, which is what most of our readers seek. We see this revenue channel as a win-win-win for everyone involved. Business owners find good processors, processors get good clients, and we are able to continue to provide a valuable service to the small business community. We also recommend and link to many services that do not compensate us. Our priority is to guide you to the best solutions for your needs, regardless of potential revenue. If you have questions, please feel free to contact us.

All mentions of rate and fee costs are estimations based on publicly available information and client feedback. Actual costs may vary based on a variety of factors unique to your business.

TransSwipe

Rating

5/5

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UPDATED 2/22/19: TransSwipe’s website is no longer available after it was hacked in mid-2017. The company does not appear to be active at this time. If you have any knowledge of TransSwipe’s current status, please share it in the comment section below this review. TransSwipe (transswipe.com) is a merchant account provider headquartered in Garden City, New York. TransSwipe is located as the same address as Zuma Merchant Services, but it is unclear at this time whether the two companies share owners or executive leadership. TransSwipe does not list its backend processor or its acquiring bank on its website. Christopher Fiumara is the CEO of TransSwipe, which is headquartered at 591 Stewart Ave, Garden City, New York 11530. Key Points

Sales & Marketing: TransSwipe does not appear to hire independent sales agents and has not received any complaints about its sales practices.
Costs & Contract: TransSwipe appears to offer variable contract terms that will depend on each merchant’s business type and processing history.
Complaints & Service: TransSwipe has received fewer than 10 public complaints.
BBB Rating: TransSwipe does not have a profile with the Better Business Bureau at this time

Customer Reviews & Sentiment

We are unable to locate any negative TransSwipe reviews, which is a good indication that the company is not a ripoff or a scam. This is an enviable complaint total for a company of any size or age, although it isn’t clear how large TransSwipe is or how long it has been actively selling merchant accounts. It’s possible that some complaints intended for TransSwipe are mistakenly filed against the company’s backend processor, but we have found no evidence that this is taking place. Overall, TransSwipe deserves an “A” rating in this category on the merit of its clean complaint record. The company advertises 24/7 customer support for merchants.

Industry Scores & User Ratings

The Better Business Bureau does not maintain a profile for TransSwipe at this time. We will therefore not factor a BBB rating into the company’s review.

Processing Rates & Fees

We have located a copy of the standard TransSwipe high risk merchant application (available below), but this document does not reveal much useful information about TransSwipe’s pricing and fees. TransSwipe does not disclose its contract terms on its website, and the identity of the company’s backend processor is unclear at this time. There are currently no merchant complaints that mention TransSwipe’s contract terms, so we will assume for the time being that most of the company’s merchants are satisfied with their pricing and fees. If you have any specific knowledge of the standard TransSwipe contract (including any early termination fees or PCI compliance fees), please share that information in the comment section below this review. See the TransSwipe High Risk Merchant Application.

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Pricing

Bottom Line

TransSwipe rates as a reliable merchant account provider according to all available information. We have not found any complaints about TransSwipe at this time, but we also have not found any specific details about the company’s pricing. Merchants are encouraged to fully read and understand all contract terms, even when dealing with an “A” rated provider.

About Us

CardPaymentOptions.com

Established 2009

My name is Phillip Parker, and I started this website back in 2009 as a simple blog to call out shady credit card processors that were taking advantage of small business owners. At the time, I had no idea this side project would grow into a leading voice pushing for transparency and integrity in the payment processing industry. I also didn't anticipate just how far some of these companies' owners would go to try to silence me.

I was recruited out of college for a sales role with a credit card processor. At the time, I didn't realize the “training” was really about tricking me... into selling business owners expensive processing with hidden fees and long-term service agreements. In my first few sales, I unknowingly cost friends and family thousands of dollars after they trusted me to switch their services. When it finally clicked that something was seriously wrong, I was furious. I quit immediately and made a promise to expose that company and any others operating the same way. That promise is what led to the creation of this website.

As I wrote about these processors, their tactics, and the people behind them, the articles started to spread among business owners. News organizations picked up the stories, readers shared them online, and traffic to the blog took off. Unsurprisingly, that also caught the attention of the companies and individuals I was exposing.

Over the last 17 years, I've received several anonymous death threats and defeated four lawsuits meant to intimidate me into taking my blog down. Their efforts to muzzle me only made my determination to expose them even stronger, leading me to work with state authorities to help shutdown some of the worst offenders.

I'm proud to say that of the millions of people who have read my work, thousands have taken the time to write and thank me for helping them narrowly avoid a very costly mistake. This blog has played a small role in pushing the industry toward more ethical practices - but there are still bad actors out there, which means the work isn't done.

If I can offer one piece of advice, it's this: get every promise in writing, and take the time to review contracts carefully. Tools like ChatGPT can help surface red flags and uncover expensive surprises buried in the fine print.

If you've made it this far, thank you for reading. I truly appreciate you being here, and I wish you every success with your business.

Our Research Methodology

Pricing & Fees

We analyze all costs including rate structures (interchange-plus, tiered, flat-rate, etc), monthly fees, equipment costs, early termination fees, and hidden charges. This data is gathered from service agreements, statements and client feedback.

Features & Technology

Evaluation of POS systems, e-commerce integrations, mobile capabilities, reporting tools, recurring billing..., and developer resources. When possible, we directly test services and hardware. Otherwise, we rely on client feedback and public information.

Customer Support

We evaluate availability across phone, email, chat, and social channels. Measuring hold times, night and weekend availability, and client feedback regarding effectiveness, professionalism, and resolution rates.

Contract Terms & Conditions

We review service agreements and equipment contracts for reasonability, transparency, and fairness. We focus on uncovering any predatory clauses, such as unjustified early termination fees, hidden costs, and unclear cancellation policies.

User Experience

We comb the internet and interview current and former clients to evaluate the overall user experience and identify any common pain points that may impact the user experience.

Sales & Marketing Practices

We evaluate sales tactics, marketing materials, and client feedback to determine the level of transparency and ethical nature of the provider's approach. Does the provider publicly disclose pricing? Do they use teaser rates? We score based on these and other factors.

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