Key Data

• Trading Name: CardConnect
• Legal Entity: Cardconnect Corp.
• Activities: payment processing solutions
• Location: Pennsylvania, USA
• Regulations: registered ISO of several US banks
• Key People: Brian P. Shanahan (Linkedin)
  
  

CardConnect (formerly Financial Transaction Services), a First Data company and registered ISO of several US banks, provides payment processing solutions for all major credit and debit cards for most businesses.

According to their website, they help more than 65,000 businesses accept billions of dollars worth of card transactions each year. They offer several solutions for small to large merchants, including POS for small shops. CardConnect also operates an API-based payment gateway.

Offering

The company’s offering for small and medium-sized businesses is CardPointe, a platform that includes a reporting and transaction management portal that extends to a native mobile app.

For large enterprises, CardConnect integrates omnichannel payment acceptance with various ERP systems, including Oracle, SAP, JD Edwards, and Infor M3.

There are many complaints about CardConnect, some alleging that CardConnect knowingly engages in unethical business practices. Many of the complaints on this website report poor customer service.

The company was sued in 2016 in connection with a class action lawsuit in Kao et al. v. CardConnect Corp. sued. In 2021, CardConnect agreed to a $7.65 million settlement.

CardConnect does not readily disclose its contract terms to merchants.

CardConnect was founded in 2006 by Brian P. Shanahan (Linkedin) and was acquired by First Data (Fiserv) in 2017.

Conclusion

Due to the many complaints surrounding CarcConnect and the various legal problems, we place the company on our “Orange Compliance” list.