Best for
Standard-risk merchants that are in search of payment processing services.
Specializes in
Paycosmos specializes in providing multiple options for accepting payments, including in-person, online, by email, by text, and through invoicing. This company is not able to work with pay-at-the-pump gas stations or allow merchants to accept fleet cards.
Pricing Summary
Setup Fee: Unknown
Monthly Fee: Unknown
Swipe Rate: Unknown
Keyed-in Rate: Unknown
Early Termination Fee : $65
Contract Terms:
Paycosmos is a credit card processing company that was founded in 2002.
The company is a part of the Transmodus Corporation, and it is a registered ISO of TSYS.
Paycosmos is also a registered ISO/MSP of Avidia Bank, Hudson, MA.
Paycosmos is a merchant account provider and payment processing company that got its start in 2002. This company is a part of the Transmodus Corporation and it is headquartered in Loxnard, California.
This company’s main service to merchants is enabling credit card acceptance. It works with businesses in a variety of industries, but it does not accept high-risk merchant accounts. Paycosmos can work with B2B merchants and offers level 2 and 3 processing, but it does not offer a payment gateway that can autofill data.
According to a LinkedIn profile, Paycosmos is also related to another Transmodus Corporation Company called Linked2Pay. Kyle Taylor is listed as the Chief Operating Officer of Linked2Pay, and may also be working in a similar position with Paycosmos.
Head Quarters
500 Esplanade Drive, Suite 700 Oxnard, CA 93036
Year Founded
2002
CEO
Unknown
Employees
Unknown
Merchant Provider Risk Tolerance
Has multiple options for accepting payments.
Offers payment processing services.
Works with B2B merchants.
Offers different types of hardware to serve their customers needs.
Cash drawers and receipt printers are available.
Does not accept fleet cards or pay at the pump transactions.
Has an early termination fee.
High risk merchants are not accepted.
Does not offer a payment gateway that can auto fill data.
Works with only online sellers.
Hardware & Software
Paycosmos offers several different types of hardware for its merchant customers, including POS systems and credit card terminals. However, the company website is not clear on what type of equipment is available. One review states that this company is a TSYS reseller, and it supports all equipment that operates on that platform. Additional accessories such as cash drawers and receipt printers are also available for sale to merchants.
Additionally, Paycosmos can provide merchants with the following:
A virtual terminal
Invoicing through its API integration
Email payment capability
Mobile app and text payment capability
Shopping cart integration
Value-Added Services
Paycosmos does not offer the typical value-added services that other merchant account providers and payment processors offer. But this company does provide:
Additional assistance with PCI Compliance
Chargeback protection and prevention services
Instant merchant settlement for businesses that process more than $25,000 a month.
Supported Payment Types & Services
Merchants that choose to do business with Paycosmos will be able to accept the following forms of payment:
All major credit cards
ACH
Checks and electronic checks
Additional payment methods may also be available depending on the type of equipment a merchant uses to process payments.
Discloses All Important Terms
Unknown
Public Pricing Available
No
Paycosmos does not publish its prices and fees on its website, but this company does offer interchange-plus pricing, which is the most transparent model available.
This company does not lease its payment processing equipment to merchants; instead, it sells it to them at reasonable prices.
Pricing Model
Interchange Plus
Swiped Rate
Unknown
Keyed-in Rate
Unknown
Mobile Payment Rate
Unknown
Virtual Terminal Rate
Unknown
Monthly Fee
Unknown
Payment Gateway Fee
Unknown
Batch Fee
Unknown
Early Termination Fee
$65
PCI Compliance Fee
Unknown
Equipment Lease Terms
Unknown
Address Verification Service (AVS)
Unknown
Application Fee
Unknown
Account Setup Fee
Unknown
Gateway Setup Fee
Unknown
Annual Fee
Unknown
Monthly Minimum
Unknown
Statement Fee
Unknown
Paycosmos requires all merchant customers to sign a contract that carries a term of three years. Each contract will automatically renew for a period of 12 months unless the company receives written notice of the merchant’s intent to cancel at least 60 days prior to the end of the term.
If a merchant customer decides to cancel the contract early, they will be subject to an early termination fee of $295. This is pretty standard within the industry.
Contract Length
Unknown
Early Termination Fee
$65
Paycosmos does not give any concrete information about how long it might take for merchants to be ready to accept payments. However, the company website does indicate they will be set up and processing quickly.
Any integrations that need to be completed can usually be done within a few days of the merchant account receiving approval. Virtual terminals can be ready to go within a few days as well. Merchants that need to have payment processing equipment may need to wait up to 14 days before they can begin accepting payments.
There is little information available on the Paycosmos website regarding customer service. There is no Contact Us page, but a few pages do have forms that can be filled out and submitted. The website also has a way for merchants to leave Zendesk messages directly through the site. There is no phone number listed, but there are links for several of the company’s social media channels.
BBB Rating
Paycosmos is not an accredited business with the Better Business Bureau, nor does it have a profile or a rating with the BBB. Its parent company Transmodus does have a B- rating.
Other Online Reviews
There are a few other online reviews for Paycosmos on various reviews sites, and they are mostly positive.
BBB
N/A
N/A
N/A
Yelp
N/A
Total Online Reviews
Unknown
Total Online Complaints
Unknown
Lawsuits
Unknown
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