The Transaction Group is a great credit card processing service that offers a well rounded set of features, competitively priced monthly fees and nominal transaction rates. The Transaction Group has no monthly minimum and no long term contract requirements. The Transaction Group also has some of the best transaction fees in the credit card processing business.
Its average applicant approval rating is about 95%, which means that this credit card processing company carefully evaluates applicants and screens out those with high risk.
The Transaction Group’s average monthly cost is quite comparable to our top three credit card processing services. Like the other processors we reviewed, The Transaction Group charges a $15.00 gateway fee and a $10.00 monthly statement fee. Contrary to most other merchant services The Transaction Group does not require a monthly minimum. This is great for small businesses that don’t do a lot of business but still want the flexibility of accepting credit cards. However, The Transaction Group does have an additional $10.00 monthly bank fee. Although this is less than the typical minimum monthly fee of $25.00 it is still a monthly fee. Additional fees include a 2.20% discount rate for internet transactions (face-to-face transactions are 1.75%), a $.20 transaction fee and a $.05 address verification fee. The Transaction Group will also waive the address verification fee for 250 transactions every month.
The Transaction Group does not charge a startup fee, nor does it charge an application fee or apply cancellation fees.
The Transaction Group’s typical account setup is between one and two days. This is dependent on what time of day you call, the time it takes to fax and gather your information. A paperless or online application would speed things up.
The Transaction Group offers 27/7 customer service support, this includes after hours phone contacts. You can also contact The Transaction Group through email or fax. The Transaction Group’s homepage includes several information articles about the merchant services and credit card processing industry.
The Transaction Group’s internet business support includes a gateway through Authorize.net (one of the most respected gateways in the business), virtual terminal support and shopping cart services. Online support also includes real time processing, secure socket layering, CVV2 verification and address verification for fraud protection.
The Transaction Group offers a broad selection of card readers including traditional swipers and wireless machines. The vendor promises to never charge application fees or setup fees.
The Transaction Group is a great credit card processor for any small business looking to accept credit cards. It offers competitive credit card processing rates, fair monthly fees and an array of features.
No long-term contract is required. Competitive fee structure.
No paperless application process.
A viable, economical alternative.