Best for
Merchants who own and operate high-risk businesses and are in need of payment processing services and merchant accounts.
Specializes in
The Transaction Group specializes in providing payment processing services and merchant accounts for high-risk, domestic, and international merchants. This company is known as one of the only payment processors that advertises credit and debit card processing for merchants in the marijuana space.
Pricing Summary
Setup Fee: N/A
Monthly Fee: N/A
Swipe Rate: $0.25+
Keyed-in Rate: $0.25+
Early Termination Fee : Undisclosed
Contract Terms:
The Transaction Group is a merchant account provider and payment processor that was founded in 2004.
The company is headquartered in Jacksonville Beach, Florida and its president is Michael Rupkalvis.
The Transaction Group is partnered with many international processors and acquiring banks
The Transaction Group is a merchant account provider and payment processing company that is located in Jacksonville Beach, Florida. It has been in business since 2004, and is among the only companies that openly advertises being able to provide payment processing services for merchants that sell legal medical and recreational cannabis.
This company works with several international processors and acquiring banks, and because of these partnerships, it states that it has the ability to save merchants thousands of dollars on payment processing; even those that are considered high-risk.
The Transaction Group advertises many attractive services for merchants, including no reserve requirements, ecommerce solutions, and 3-4 day settlement options.
Head Quarters
462 1st ST S Jacksonville Beach, FL 32250
Year Founded
2003
CEO
Unknown
Employees
2-10
Merchant Provider Risk Tolerance
Domestic phone and email support.
Takes high risk credit card purchases.
Fast and easy setup process.
Tailors business solutions to clients.
Available to customers after business hours.
Does not disclose prices and fees.
Separate contracts if need payment processing equipment.
Early termination fee possible but not disclosed.
High risk and international businesses expect higher per-transaction fees and stricter processing limits.
Not a top payment processor for customer service.
Hardware & Software
The Transaction Group offers POS systems, credit card terminals, and mobile payment solutions, including integration with both iOS and Android devices. The company website does not expressly mention any partnerships with other companies for providing hardware, but it does indicate that it is available.
The company’s primary focus seems to be on providing merchants with virtual terminals and payment gateways for processing payments. The website states that it has multiple partners that offer online payment processing services, and the company works to pair its merchant customers with the right ones.
Value Added Services
The Transaction Group primarily focuses on its payment processing services. But this company does have some value added services that it offers to its merchant customers.
Merchants can access cash advances for working capital if they are in need of additional funds to grow or maintain their businesses.
Free rate analysis is available to merchants that are currently working with other payment processing companies to determine if The Transaction Group can save them money on their fees.
The Transaction Group works with many high-risk merchants, including:
Debt collection agencies
Casino, gambling, or gaming merchants
Life coaches
Online dating sites
Pawn shops
Cigarettes and e-cigarette merchants
Multi-level marketing merchants
This company can also assist seasonal merchants with accounts that do not charge them fees during the times of the year when they are not processing payments.
Supported Payment Types & Services
Merchants that do business with The Transaction Group will be able to accept many of the more popular payment options, which include:
Payments made with Visa, Mastercard, American Express, or Discover
Debit card payments, including PIN-entered payments
Checks and electronic checks
ACH payments
Additionally, The Transaction Group offers international payment processing with services that can handle more than 130 currencies through secure payment gateways and advanced anti-fraud measures in place.
Discloses All Important Terms
No
Public Pricing Available
Unknown
The Transaction Group website does not publicly list its prices and fees, most likely because it works with so many acquiring banks and each merchant has its own risk level and other factors that can affect pricing.
There are some prices that are available, and they are as follows:
Swiped rate - $0.25
Keyed-in rate - $0.25
Service fee - $10 a month
Chargeback fee - $35
PCI Non-Compliance fee - $35
There is no indication that the company charges early termination fees, PCI compliance fees or monthly minimum fees, but these often apply as well.
Pricing Model
Unknown
Swiped Rate
$0.25+
Keyed-in Rate
$0.25+
Mobile Payment Rate
N/A
Virtual Terminal Rate
1.00% - 4.99%
Monthly Fee
N/A
Payment Gateway Fee
Undisclosed
Batch Fee
Undisclosed
Early Termination Fee
Undisclosed
PCI Compliance Fee
Undisclosed
Equipment Lease Terms
N/A
Address Verification Service (AVS)
Unknown
Application Fee
N/A
Account Setup Fee
N/A
Gateway Setup Fee
N/A
Annual Fee
N/A
Monthly Minimum
Undisclosed
Statement Fee
N/A
The Transaction Group most likely offers variable contracts to its merchant customers because of the differences in risk levels, monthly volume, and other factors. But there is no information on the company website.
The site does state that merchants will be able to avoid getting into long-term contracts. However, those in need of payment processing equipment may need to sign separate contracts if they choose to lease them.
Contract Length
Variable
Early Termination Fee
Undisclosed
The Transaction Group advertises a very quick underwriting process that allows most merchants to get approved in as little as 48 hours as long as their applications are complete. Merchants in need of POS systems will have them shipped quickly, programmed and ready to go.
The Transaction Group has prominently displayed phone numbers and email addresses for customer service and sales on its website.
BBB Rating
The Transaction Group has a profile on the Better Business Bureau website, but it is not rated or accredited by the BBB. There have been no reviews or complaints posted in the last three years.
Other Online Reviews
There are no online reviews available for The Transaction Group.
BBB
NR and This Business is not BBB Accredited. (0 Reviews; 0 Complaints)
N/A
No Reviews
Yelp
N/A
Total Online Reviews
Unknown
Total Online Complaints
Lawsuits
Unknown
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