Transnet Payment System Review

Merchant Maverick's Rating: (3 out of 5)

Last Updated: April 23rd, 2010.

Overview:
Transnet Payment System (TPS) is a company based out of Houston, Texas that has been in business since 2003.

They do have 2 unanswered complaints on the BBB that has really made their score tank. When I first reviewed Transnet they had an "A" rating, but since then, they've gone down to an "F." Mainly because of those 2 complaints that were not responded to. Luckily for them, I couldn't find any negative reviews about them anywhere else, so they're still going to get a decent rating from me.

They offer both interchange-plus pricing & seasonal downtime, and you know how big a fan I am of interchange-plus pricing. TPS also has pretty lax contract terms (see below). So long as they stick by the contract, and do in fact offer you interchange-plus.

I obviously don't like that there aren't any testimonials on the site, or a blog, or a Facebook or Twitter account but we can't have everything we want...right?

Lets go with a 3 out of 5 for now, and come back to them periodically.

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Date Established:
2003.

Location:
Houston, Texas. I thought they were operating from a UPS or Mailboxes Etc mailbox, but after Google Mapping it, looks like a real office building.

Domain Name(s):
www.transnetpaymentsystem.net.

Parent/Partner Company:
No parent company.

Type:
Registered ISO/MSP.

Acquiring Bank(s) (Acquirer):
Chase Paymentech.

Payment Processor(s):
Chase Paymentech.

Payment Gateway(s):
Chase Orbital or Authorize.Net.

Do you need help connecting your payment gateway to your website? Click here.

Trust Symbols:
TPS has a BBB profile with a score of "F" as of this review. They've had 2 complaints in the last 36 months.

Negative Reviews:
Couldn't find any negative reviews about them...yet. As always, I'll be checking up on them to see how they progress.

Common Complaints:
None.

Verifiable Testimonials/References:
No testimonials on the TPS site.

Security/Privacy:
The TPS site doesn't have any security features (i.e. McAfee, TRUSTe, etc...).

Customer Service:
Have not worked with Transnet Payment System in the past, so help us out if you have.

Contract Duration:
The contract is open for the first 3-months, then binding for 3-years thereafter.

Cancellation Fee:
If you give them a 30-day notice before cancelling, then you won't be charged a fee.

Interchange-Plus Pricing:
Interchange-plus pricing is offered by TPS.

Seasonal Downtime:
Seasonal downtime is also offered.

Product/Service Offering:
Credit/Debit, eCheck, Pay at Pump, Mobile/Wireless, e-Commerce, MOTO, Terminals, Check Readers.

Product/Service Specialty:
None in particular.

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