Transparent Financial Services, of Chicago, IL was awarded a grant from CEC (Chicagoland Entrepreneurial Center) to support TransFS's rapid national growth. Clients of TransFS are businesses in need of financial services, such as locating a dependable credit card processor. Transparent Financial Services are recipients of this grant through the CEC's Entrepreneur in Residence program. This program places startup companies displaying significant growth-potential with entrepreneurs who are experienced with business success.
Transparent Financial Services now have over twelve markets in the customer base of their comparison-shopping site offered to their clients through their credit card processing services. TransFS has a wide network of credit card processors bidding on each merchant's services but, they are all bound by strict contractual stipulations. The system is carefully designed so that a client is not contacted by or connected with a credit card processor until they have officially chosen one through the services of Transparent Financial Services.
TransFS was established in 2008 and their client base of businesses now includes more than twelve various industries. The owners founded Transparent FS, while in Business school, after their many challenges as entrepreneurs trying to choose the best credit card processor and locating top quality financial service providers. They have developed a unique strategy which enables them to locate processing fees that are about 40% lower than average. TransFS has already saved some of their clients well over $72,000 per year in credit card processing server fees. Even their processing providers are rewarded when they adhere to contract regulations and earn TransFS certification, by becoming eligible for quicker contact with clients at reduced costs. Transparent FS also offers their services to all business clients free of charge.
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