The Transaction Group is a good credit card processing service with useful 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. Unlike most other merchant services, The Transaction Group does not require a monthly minimum, which 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. Additional fees include a 2.20% discount rate for internet transactions (face-to-face transactions are 1.75%), a $0.20 transaction fee and a $0.05 address verification fee. The Transaction Group will also waive the address verification fee for 250 transactions every month.

There is no startup fee, no application fee and no cancellation fee.

The Transaction Group’s typical account setup is between one and two days.

Merchant accounts receive 24/7 customer service support. 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 Summary:
8.1/10

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 lots of well-considered features.

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The Transaction Group

Pros
No long-term contract is required and the fee structure is competitive.

Cons
Although there is excellent customer service 24/7, online chat is not an option (just in case that is important to you).

The Verdict
: 8.05/10

The Transaction Group has good terms, good service and won't charge you if you need to leave.