As per the official website, It's ideal for small businesses (≈ 20 employees), particularly small businesses in the restaurant and retail sectors.
iTransact was initially an electronic check processing company but now it specializes primarily in credit card processing. The firm operates as an online payment gateway for the merchant account provider, Payroc.
Setup Fee: $0
Monthly Fee: $25
Swipe Rate: 3.05% + $0.19
Keyed-in Rate: 3.05% + $0.19
Early Termination Fee : $125
iTransact was launched in 1994 and acquired by Payroc in 2016. iTransact is a registered ISO of Fifth Third Bank (Ohio), Wells Fargo Bank (California), and M.B. Financial Bank (Illinois.) The former CEO of iTransact, Stephen Hall, now sits on the board of managers for Payroc. There are currently no customer complaints against the company, only positive reviews of their prompt support service.
As per the official website, iTransact began its journey in 1994 as the first online check acceptance service provider until it was acquired by Payroc LLC in 2016. Today, the firm operates as a merchant account provider and functions as Payroc's online payment gateway.
Merchant Provider Risk Tolerance
Sleek virtual terminal
Poor customer reviews
Lack of pricing transparency
iTransact offers the following services via its official website:
Virtual Terminal: The Virtual Terminal is iTransact's primary service that enables merchants to run simultaneous transaction types using a sleek interface. Other benefits include partial-approval management and an integrated USB card reader for retail situations. Merchants using iTransact can assign custom user roles to control who gets access to which data.
Recurring Payments: The company offers recurring billing on a monthly, weekly, or daily cycle.
EFT Payments: iTransact supports EFT payments via CheckGateway. Moreover, it also supports creating NACHA files, which can easily be uploaded directly to EFT-supported banks. Although EFT transactions are quite expensive, owing to CheckGateway's transaction fees, merchants benefit from avoiding the hassle of uploading NACHA files to their respective bank accounts.
Discloses All Important Terms
Public Pricing Available
The complete list of rates and fees for iTransact's Payment Gateway includes:
Additionally, iTransact charges a base credit rate of 2.19% + $0.20 per transaction for qualified merchants and 3.05% + $0.19 for non-qualified merchants.
3.05% + $0.19
3.05% + $0.19
Mobile Payment Rate
Virtual Terminal Rate
Payment Gateway Fee
Early Termination Fee
PCI Compliance Fee
$90 Or $165 Per Year
Equipment Lease Terms
Address Verification Service (AVS)
Account Setup Fee
Gateway Setup Fee
iTransact offers a 3-year standard agreement with automatic renewal for 2-year terms and an early termination fee (ETF) of $125.
However, iTransact works with several large payment processors to provide merchant account services. Thus contract terms and conditions can vary significantly and depend on the merchant's specific situation.
Early Termination Fee
iTransact currently has a 26-year long operational record but very few online reviews to go with it. The company has an A+ rating with the Better Business Bureau although they are not a BBB-accredited business.
A+ (0 complaint)
Total Online Reviews
Total Online Complaints
If you're in the market for a merchant account provider, be sure to check out our user reviews, our merchant accounts guide and our top popular merchant provider picks