Best for
Small to mid-sized businesses in need of merchant accounts and payment processing services.
Specializes in
Merchant Services, Financial Transactions, Credit Card Processor, Point of Sale, Payment Gateway, Gift and Loyalty Programs, Payroll, payroll service, small business payroll, mobile payments, and payment processing
Pricing Summary
Setup Fee: $0
Monthly Fee: $10
Swipe Rate: 1.00% - 4.99%
Keyed-in Rate: 1.00% - 4.99%
Early Termination Fee : Up To $500
Contract Terms:
Headquartered in Rosemont, IL, TransNational is an industry leader in innovative payment solutions and merchant services. Founded in 1999 to be an ethical and full disclosure option in the merchant services industry, TransNational has enjoyed strong growth over the past decade. Maintaining an A+ rating with the Better Business Bureau, TransNational is a five-time BBB Torch Award nominee for Marketplace Ethics. They’ve also been honored four years with the Chicago Tribune’s Top Workplace award. See Less
Formerly known as “TransNational Bankcard,” TransNational Payments is a merchant account provider that primarily serves small to mid-sized businesses in the United States. Founded in 1999, the company is a reseller of Global Payments.
TransNational Payments, LLC is a registered ISO/MSP of Wells Fargo Bank N.A., Walnut Creek, California and HSBC Bank USA, National Association of Buffalo, New York, with corporate offices located at 9550 W. Higgins Road, 8th Floor, Rosemont, Illinois 60018. John Pitzaferro is the founder and CEO of TransNational Payments.
Head Quarters
Rosemont, IL
Year Founded
1999
CEO
John Pitzaferro
Employees
159
Merchant Provider Risk Tolerance
Zero setup fee.
Domestic telephone support during normal business hours.
Documentation and knowledge base available.
Best for small to midsize businesses in need of merchant accounts and payment processing.
Has a gift and loyalty program.
Monthly fee.
Early termination fee.
Three year contract.
Public pricing is not available.
Does not disclose all important terms.
Our services include credit card processing, debit card processing, gift card and loyalty programs, POS solutions, mobile credit card processing, Full Service Payroll, POS systems and online credit card processing.
Discloses All Important Terms
No
Public Pricing Available
No
According to various public complaints, the standard TransNational Payments contract is a three-year agreement through Global Payments with an early termination fee of $500 (in the first year) or $395 (after the first year), an annual fee of up to $95, and other associated fees. A typical Global Payments agreement also includes a monthly fee of $10, an annual maintenance fee of $299, and a non-cancellable equipment lease lasting 48 months.
A company representative has stated that TransNational exclusively offers interchange-plus pricing, but multiple merchant complaints mention a rate quote of 1.74%, which does not resemble a typical interchange-plus quote. It is also unclear at this time whether the company’s annual fee covers the cost of PCI compliance or the company charges a separate PCI Compliance fee.
In addition to its storefront payment processing services, TransNational Payments also dedicates a portion of its website that advertises its virtual terminal and payment gateway. However, pricing for these services is not disclosed. Additional rates and fees, including gateway fees, technical support fees, batch fees, and additional transaction rates typically apply to these e-commerce services.
Pricing Model
Interchange Plus
Swiped Rate
1.00% - 4.99%
Keyed-in Rate
1.00% - 4.99%
Mobile Payment Rate
Virtual Terminal Rate
1.00% - 4.99%
Monthly Fee
$10
Payment Gateway Fee
Undisclosed
Batch Fee
Undisclosed
Early Termination Fee
Up To $500
PCI Compliance Fee
Undisclosed
Equipment Lease Terms
48 Month (locked)
Address Verification Service (AVS)
Application Fee
Account Setup Fee
$0
Gateway Setup Fee
Undisclosed
Annual Fee
Up To $95; $299 for Maintenance Fee
Monthly Minimum
Undisclosed
Statement Fee
TransNational Payments appears to offer a three-year contract with an early termination fee of up to $500.
Contract Length
3 Years
Early Termination Fee
Up To $500
TransNational Payments offers phone and email customer support for business owners. There is no indication of how long it might take to get set up with services with this company.
TransNational Payments (as TransNational Bankcard, L.L.C.) have been accredited with the Better Business Bureau since April 2005 and is currently showing a grade of “A+" with 19 complaints in the last 36 months. 7 of these complaints were related to the product or service, 11 had to do with Billing/Collections and 1 related to Guarantee/Warranty. TransNational Bankcard, L.L.C. resolved 5 complaints to the satisfaction of the merchant, while the remaining 14 either were resolved to the dissatisfaction of the merchant or did not receive a final response from the merchant.
BBB
A+(19 complaints)
N/A
No Reviews yet
Yelp
2 Stars / 48 Reviews
Total Online Reviews
170+
Total Online Complaints
30+
Lawsuits
None
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