Transact Pro

What is Transact Pro and what do they do?

Transact Pro is a Latvian e-money institution based in Riga, providing card issuing, acquiring, and online payment acceptance to corporate and private customers. Established in 2004, it holds the distinction of being the first licensed electronic money institution in Latvia authorized to render payment services, under a license granted by Latvia's Financial and Capital Market Commission (FCMC).

The company's core offering covers four areas: merchant accounts for accepting Visa, Mastercard, and American Express payments; payment gateway services for integrating card acceptance into a website or app; current (business) accounts for receiving proceeds and making payments; and card issuing, spanning debit, credit, prepaid, and loyalty cards, including white-label programs for online merchants. Processing runs on a proprietary, PCI DSS Level 1 certified gateway, and Transact Pro is a principal member of Visa and Mastercard, as well as SWIFT and SEPA.

The company is also affiliated with Transact Bank N.A. in the United States, a federally chartered bank and Federal Reserve System member. That link gives Transact Pro's clients a route into both EU and US payment rails through one relationship, useful for businesses processing cross-border volume.

Who is it for?

Transact Pro's customer base centers on e-commerce merchants and online businesses that need a merchant account and payment gateway to accept card payments — from smaller online shops to companies processing at scale across multiple markets. Its business account and card issuing services also suit companies that want to combine payment acceptance with everyday banking functions, such as receiving settlement funds and paying suppliers, under one provider. The current (checking) account is available to both corporate and private customers.

Why do businesses choose Transact Pro?

• One provider for acquiring, banking, and issuing — merchant accounts, a current account, and card issuing sit under a single relationship, reducing the number of providers a finance team has to manage.
• Long-standing card network membership — Transact Pro became a Mastercard Worldwide principal member in 2009 (the first Latvian non-banking institution to do so) and a Visa Europe member in 2015, giving it direct issuing and acquiring rights rather than working through an intermediary.
• EU-US reach via Transact Bank — the affiliation with a US federally chartered bank gives cross-border merchants access to both European and American payment infrastructure.
• 24/7 support — merchants get round-the-clock technical assistance for integration and account management, available by chat, phone, and email.
• PCI DSS Level 1 gateway — the highest tier of card data security certification, built and maintained in-house rather than outsourced.

Businesses using Corefy can simply obtain a MID from Transact Pro and connect it to Corefy's dashboard in a few clicks, without dealing with any integration work.

Is Transact Pro trustworthy?

Transact Pro operates under a license from Latvia's Financial and Capital Market Commission, granted in June 2014, covering electronic money issuance, payment account services, and payment initiation. It has been active in electronic financial services since 2004 and holds principal membership status directly with both Visa and Mastercard rather than relying on a sponsoring bank.

Independent review platform TheBanks.eu rates the company 'very good' overall, ranking it third among Latvian payment institutions in its evaluation. Its gateway infrastructure carries PCI DSS Level 1 certification, the strictest level of card industry data security standard, applicable to providers handling the largest transaction volumes.