Infrastructure was the driving force behind the formation of Transaction Services, a service provider in the electronic payments industry also known as TrxServices and TRX to its clients and peers in the industry. Co-founder David Leppek had been running another ISO program leading up to the February 2010 launch of TRX. Through that experience, he had identified a gap within the industry: he needed a robust tracking and reporting platform, but nothing available at the time met his standards.
"I was aware of a few options, but questioned how stable and sustainable they would be," stated Leppek, who now serves as an executive payment consultant for TRX. "I realized it made the most sense to develop a proprietary platform, which is what led to the birth of Transaction Services."
By October 2010, the TRX platform was fully functional and had been granted its first Payment Card Industry Data Security Standard certification. The firm onboarded a cruise line and then spread its wings across the small business tier. Its primary focus was on serving the retail, restaurant and self-service kiosk verticals.
Today, TRX is headquartered in Atlanta, and maintains additional facilities in Denver. The company is self-described as "a leading payment card processing solution for merchants looking to improve their financial performance." According to one formal statement explaining the organization's business philosophy, TRX is "committed to providing an innovative technology platform essential to the customer … and providing customized solutions, along with the highest quality of service, flexibility, and visibility to oversee performance."
The TRX mission is "to provide a single technical infrastructure that securely addresses the full merchant lifecycle while automating the Agent's residual payment and reporting." The company feels it has achieved this ambition by developing payments management software that can receive data from integrated transaction terminals. This accomplishment has also opened doors to integrations with independent software vendors within the small business community, TRX noted.
"From the onset, the TRX infrastructure was designed around security, flexibility and speed," Leppek said when describing the organization's "next level" standards, innovative architecture, point-to-point encryption and tokenization.
According to Leppek, the platform has full omnicommerce and customer resource management (CRM) functions, and also supports nearly 2,000 transaction types, multiple user logins, interchange reports, monthly and quarterly card-brand reports, statements, gateway authentications, and cardholder data security. "Everything is offered standard, and it was this robust functionality that made TRX a frontrunner during the EMV (Europay, Mastercard and Visa) migration," he stated.
Two of four original TRX founders/investors are still involved in day-to-day oversight, including Scott Martin, who assumed the chief executive officer post in February 2018.
According to Martin, the firm is currently expanding its banking relationships and underwriting capacity, which is a recent strategy shift. "We've already added one acquiring bank to the portfolio and will likely add one or two others in first quarter 2019," Martin stated.
Referring to the TRX technology, Martin indicated its new bank partner planned to use the CRM feature to manage part of its portfolio. "The most interesting aspect of the TRX platform is the flexibility of its features," he stated. "It gives our partners a wide array of options."
Martin said the company is also working on incorporating the new Verifone 4G terminal and adding innovative accounting products for the small, multichannel merchant. Martin feels the main focus areas at TRX continue to be meeting omnicommerce demands in the marketplace and enhancing the platform's reporting visibility related to interchange, transactions and risk-related data. "We will continue to invest in adding versatility to the platform as we can," he said.
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Vice President of Sales
Company Profile originally appeared in
The Green Sheet Issue 181002
220601 - Nationwide Payment Systems
211102 - Kalamata Capital Group
210701 - Choice Merchant Solutions
200601 - Delta Payment Solutions
190802 - Credit.net, a division of Infogroup
190702 - Samsung Electronics America Inc.
181201 - Network Merchants LLC
180902 - MainStream Merchant Services Inc.
180801 - Century Business Solutions
180502 - Priority Payment Systems Northeast
180501 - Merchant e-Solutions Inc.
180301 - Wirecard North America
180201 - Sysnet Global Solutions Ltd.
171202 - Secure Cryptopayments
171002 - National Benefit Programs LLC
170902 - Frates Insurance & Risk Management
170901 - DCS Holdings Group LLC
170802 - Apogee Payment Systems LLC
170702 - Active Software & Hardware Systems
170701 - Veratad Technologies LLC
170502 - Frontline Processing Corp.
170501 - Platinum Choice Bancard LLC
170201 - Electronic Payments Inc.
161202 - International Bancard Corp.
161201 - CSR Professional Services Inc
161102 - Digitzs Solutions Inc.
161101 - Residual Sheriff LLC.
160801 - DigiPay: Solutions Inc
160702 - CreditCardProcessing.com
160201 - Lead Tracking Systems LLC
151202 - Benseron Information Technologies Inc.
151201 - CardWare International Inc
151101 - Lion Capital Group LLC
150801 - Topcreditcardprocessors.com
150702 - Vision Payment Solutions LLC
150601 - Conformance Technologies
150502 - Global Processing Systems
150402 - Mercantile Processing Inc.
150401 - Field Guide Enterprises
150302 - Signature Card Services
150301 - Premier Payment Systems Inc.
150201 - Humboldt Merchant Services
150102 - Expansion Capital Group LLC
141102 - National Merchants Association
141001 - Instant Credit Manager
140902 - Merchant Cash and Capital LLC
140701 - National Transaction Corporation (NTC)
140601 - Total Merchant Services
140501 - Nationwide Payment Solutions
140501 - BPC Banking Technologies
140301 - Meritus Payment Solutions
140201 - Process Pink Payments LLC
131202 - First American Payment Systems L.P.
131102 - Evo Payments International LLC
131001 - Live Reps Call Center
130901 - Regal Payment Systems LLC
130901 - The Merchant Solutions
130802 - North American Bancard LLC
130801 - Payment Logistics LLC
130702 - Plug n Pay Technologies Inc.
130601 - U.S. Merchant Systems LLC
130402 - National Processing Co.
130202 - Charge Card Systems Inc.
130202 - Layered Technologies Inc.
130102 - Glazer_Kennedy Insiders Circle LLC
121202 - American Microloan LLC
121102 - Keep in Touch Systems Inc.
121102 - Merchants Choice Payment Solutions
121002 - Washington Bancard Merchant Services LLC
120902 - Central Payment Co. LLC
120802 - Royal Merchant Holdings LLC
120801 - National Benefit Programs LLC
120602 - Cardinal Commerce Corp.
120601 - Veritrans Merchant Services LLC
120502 - ExecuTech Lease Group
120502 - The Small Business Authority
120402 - Chargeback Guardian Inc.
120401 - Electronic Payment Exchange
120301 - Complete Merchant Solutions LLC
120201 - CSR - Compliance Solutions and Resources
120102 - Alpha Card Services Inc.
111002 - Lead Source Call Center
111001 - First Annapolis Consulting Inc.
110902 - Point of Sale System Services Inc.
110901 - Sage Payment Solutions
110801 - Century Payments Inc.
110702 - Creative Vision Studio LLC
110702 - Network Merchants Inc.
110701 - Capital Access Network Inc.
110602 - eProcessing Network LLC
110602 - Moneris Solutions Inc.
110502 - Paragon Application Systems Inc.
110401 - Merchant Implementation Services
110301 - FrontStream Payments Inc.
101202 - CheckAlt Payment Solutions
101102 - Impact Payments Recruiting
101101 - Global Electronic Technology Inc.
101002 - TriSource Solutions LLC
100802 - Federated Payment Systems LLC
100801 - Voltage Security Inc.
100601 - NETSURION (formerly Vendor Safe Technologies)
100502 - Transaction Network Services Inc.
100402 - Secure Payment Systems Inc.
100401 - Elite Merchant Solutions
100302 - Retail Decisions Inc.
100102 - Payment Alliance International
091201 - Performance Training Systems Bankcard Boot Camp
091101 - Merchant e-Solutions Inc.
091002 - Whitehall Capital Advisors LLC
090901 - CoCard Marketing Group LLC
090801 - First National Merchant Solutions
090701 - checXchange Money Transfer Systems Inc.
090601 - Sterling Payment Technologies
090502 - Infinity Payment Systems
090501 - Merchant Cash and Capital
090401 - UseMyBank Services Inc.
090401 - Data Delivery Services Inc.
090302 - Velocity Merchant Services
090302 - Metro Merchant Services
090301 - Smart Transaction Systems Inc.
090301 - DCC Merchant Services USA LLC
090202 - TransFirst Holdings Inc.
090201 - ACH Payment Solutions
081202 - Affirmative Technologies Inc.
081201 - On-line Strategies Inc.
081101 - Vision Payment Solutions LLC
081002 - Veratad Technologies LLC
081001 - International Merchant Solutions LLC
080801 - GreenSoft Solutions Inc.
080702 - Smart Circle International
080601 - International Bancard Corp.
080502 - DRG Telemarketing Inc.
080501 - BCC Merchant Solutions
080402 - U.S. Merchant Systems
080401 - Greystone Business Resources Corp.
080302 - Transmedia Payment Services Ltd.
080102 - Sonoma Technical Support Services
071202 - Barclay Square Leasing Inc.
071102 - FirstView Financial LLC
071001 - Sage Payment Solutions
070902 - YourTownMall Business
070901 - Nxgen Payment Services
070802 - All card Processing-AAMonte-USA
070801 - Money Movers of America Inc.
070602 - Central Point Resources Inc.
070601 - Positive Feedback Software LLC
070502 - Premier Payment Systems
070501 - Amacai Information Corp.
070402 - National Bankcard Systems