Business ProfileforPaperless Transaction Corporation

On Nov. 23, 2021, I received from the VP of Paperless Tran a cost analysis of savings we would receive from switching our payment processing over to their company. That analysis used our current processor rates to compare against expected expenses with Paperless Tran. The analysis showed that on an annualized basis we should expect a savings of roughly $1650 by switching to their company. There was no disclosure of hidden fees or other potential issues in achieving those results. After completing our first full month of processing with Paperless, the fees are way out of range from what was provided in the analysis, particularly on ACH transactions. The expected COST of switching to Paperless will be well over $1200 on an annualized basis, a nearly 200% discrepancy from their analysis of a $1650 savings. On top of this, it cost our non-profit hundreds of hours of labor in making the switch, $250 to leave our old ACH provider and we've received very slow communication for support on the many issues we've encountered in the transition, often taking 2-3 days to respond to any inquiry. We reached out to the VP that provided the analysis and he was not interested in addressing the actual issues. Only replying with the below: "We're certainly sorry to hear that you feel that way, but we have in Paperless Transactions is a pass-through gateway for nonprofits that generally shows a cost savings. Every month may be different as well as the processing (type of cards used are dynamic) so the savings may be more one month than another month. I can assure you that our team analyzed based on what our cost averages are, there was no bait or switch involved. Paperless Transactions has been a gateway processor and software provider for nonprofits before Stripe existed and we offer completely different services in many ways so it will be comparing apples to oranges in that sense." Certainly there was no mention of this "apples to oranges" in his original evaluation.