The Transaction Group Review

Rates and Fees
90/100
Truth in Advertising
95/100
Consumer Reviews
90/100
Customer Support
95/100
5

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:

Variable
Visit The Transaction Group

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 Overview

 

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.

Quick Facts

Head Quarters

462 1st ST S Jacksonville Beach, FL 32250

Year Founded

2003

CEO

Unknown

Employees

2-10

Merchant Provider Risk Tolerance

High Risk Businesses

What We Like

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.

What We Don't Like

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.

Industries Served

  • Online Sellers

Business Types Served

  • Mobile
  • Online

The Transaction Group Products & Services

 

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.

The Transaction Group Payment Processing

  • Credit Card Processing
  • Debit Card Processing
  • Online Payments
  • Payment Gateway

The Transaction Group Billing & Invoicing

  • Mobile Payments
  • Online Invoicing
  • Online Payments
  • Payment Processing

The Transaction Group Advertising & Sales

 
The Transaction Group markets its products and services through a combination of traditional advertising, partnerships, and its referral program. There is no misleading language on the company website with regard to sales.

The website does state that the leadership team has a combined 60+ years of experience in the payment processing industry. This indicates that the company may also have some inside sales professionals.

Truth in Marketing

Discloses All Important Terms

No

Public Pricing Available

Unknown

The Transaction Group Pricing, Rates & Fees

 

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 at a Glance

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 Contract & Terms

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 Setup & Support

 

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.

Setup Highlights

  • Documentation / Knowledge Base

Support Highlights

  • Domestic Phone Support (Business Hours)
  • Email Support

The Transaction Group Complaints, Ratings & Reviews

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.


Ratings

BBB

NR and This Business is not BBB Accredited. (0 Reviews; 0 Complaints)

Google

N/A

Facebook

No Reviews

Yelp

N/A

Reviews

Total Online Reviews

Unknown

Total Online Complaints

Lawsuits

Unknown

The Transaction Group Alternatives

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