As one of the UK’s largest discounted card machine rental company, Transax supports approximately 20,000 business in Ireland, France, and the UK process more than 2 million transactions per day.
Based in Birmingham and backed by the large international payments provider, Elavon, Transax is able to offer comprehensive payment services for merchants who handle in-person and contactless transactions. Its partnership with Elavon, a subsidiary of U.S. Bankcorp, means that card payments can be accepted through a Transax Merchant Services terminal from any Visa or MasterCard card issuer. Elavon provides the authorization service through the terminal and settles the funds once a transaction is processed. Additionally, if you have other merchant acquiring requirement beyond the one with Elavon, you also can accept American Express and Diners Club. Therefore, Transax does not actually provide any of the actual merchant account services.
With Transax’s rentals, you get several additional services at no charge. Merchants can offer debit card customers “cashback” service. Also, it offers Dynamic Currency Conversion (DCC), which gives foreign tourists and visitors the option to paying in their own currencies with their MasterCard and Visa cards. DCC allows you to receive a share of the currency commission. Finally, Transax offers a cheque warranty. So, if you get a bad cheque, Transax pays the full amount for you. Finally, it also offers merchant cash advances, which a financing alternative to a small business loan. Advances are based on future credit card sale earnings, and eligibility often does not rely heavily on credit scores.