The Transaction Group is one of the more expensive credit card processing companies that we reviewed. Percentage rates for both swiped and keyed-in transactions are high, as are the per-transaction fees. The company charges a monthly fee, a gateway fee and a PCI fee that is spread out in monthly payments rather than as a large annual fee. The monthly and gateway fees are slightly higher than average. The monthly minimum dollar amount that you need to generate in transactions to avoid paying an additional fee is on par with the other credit card processing companies we reviewed.

The company works with businesses located in the United States, including those with high risk and bad credit as well as international and offshore businesses. It approves 95 percent of the applications it receives. After you submit your application, it takes between one and two days to set up your account, but there's no setup fee. The average acceptance percentage is lower than most of the companies we reviewed, and it takes a little longer to set up your account than the best companies in our review.

You're required to sign a lengthy contract when you process credit cards with The Transaction Group, and if you choose to terminate your account early, you must submit your request in writing. After the company receives your request, your account stays open and you continue to pay for your account for 60 days to make sure all transactions are completed, but the account is locked and you aren't able to use it.

The company complies with the Payment Card Industry's (PCI) security measures, so you can verify your customers' addresses and card value verification (CVV2) numbers to help prevent credit card fraud. Transactions are secured between your system and the credit card companies using secure socket layer encryption.

Using your merchant account with The Transaction Group, you can accept all major credit and debit cards, EMV chip cards and NFC payments like Apple Pay, Google Wallet and Softcard. The Transaction Group uses Authorize's gateway and gives you two shopping cart options that you can use for your eCommerce credit card processing. Mobile credit card processing is available through The Transaction Group, and the company can give you a free mobile credit card reader, but there is an additional monthly fee to use this feature.

Customer support is available from The Transaction Group during normal business hours, during which time you can contact your dedicated account rep directly. After hours, its gateway provider has extended customer service hours, and its processors provide 24/7 customer support for credit card and terminal issues.

The Transaction Group Summary:

Although pricing and fees are higher than most of the other companies we reviewed, The Transaction Group works with businesses that have credit issues, are considered high-risk or are located outside of the United States.


The Transaction Group

The company extends merchant accounts to high-risk and international businesses.

To cancel your account, you have to notify the company in writing. You continue to pay for it for 60 days, during which time your account is technically open, but you can't use it.

The Verdict:

The Transaction Group is one of the higher-priced credit card processors we reviewed. It's an adequate choice if your business has credit issues, is located outside of the United States or is considered high-risk.