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TranzactCard Review: An MLM Scam By Richard Smith? (Update 2024)

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Is TranzactCard an MLM scam or a genuine and reliable business? You will learn everything about them in this TranzactCard review on Gripeo.

TranzactCard is an MLM company that specializes in finance & rewards.

Before we get started with this review
Such posts are made possible by the collective efforts of our contributors. If you can provide any kind of insight into this company or a similar company/individual, then share your information with us using our secured form.

You can help us put a stop to online scams before they grow too big and end-up ruining thousands of lives. A scam is a scam, doesn’t matter if it’s big or small. Now that this is out of the way, let’s get started with the review.

TranzactCard’s chairman and founder can be found as Richard Smith on their official website.

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On the business aspect of operations;

TranzactCard Inc is TZT Holdings Inc’s entirely privately held affiliate. TZT Holdings controls the “TranzactCard” trademark as well as the TranzactCard Financial Ecosystem.

Smith lists himself as the Executive Chairman of TZT Holdings on LinkedIn.

To cut the tale short, Richard Smith is the owner & operator of TranzactCard.

TranzactCard runs through two important website domains, which include “” & “” the two of which were originally established in April of 2021, with personal registers being updated on the 29th of April, 2023.

BehindMLM was initially aware of Richard Smith’s MLM partnership with Divvee in the middle of 2016, but we were unaware of it at that point.

Smith originally hid underneath CEO Allen Davis rather than facing the business that he co-founded.

Our Methodology

We look at 34 different data points when analyzing and rating online money-earning opportunities. Once the research on these data points is submitted, expert contributors reach out to the company’s customers and associates to get more insight into their operation. Finally, all the collected information is presented in the form of this expert review.

All the data is extracted from publicly available information and the sources are given in the transparency section at the bottom of every report.

These reports are made possible by the collective efforts of contributors like you. If you would like to become a contributor then contact us here.

Divvee’s initial premise failed, and it returned to business in November 2016 as Divvee Rank & Share. Afterward, Smith & the co-founder Troy Muhlestein become the business’s image.

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By July 2017, it was clear that Divvee Rank & Share had likewise failed. This resulted in a shift toward trading in foreign exchange stocks & products scam.

Following that was Nui, an extension regarding the previously reported stocks & products scam.

Nui has deteriorated into a slew of cryptocurrency scams led by Darren Olayan. In July, Texas issued an investment scam prohibition order.

Nui has deteriorated into a slew of cryptocurrency scams led by Darren Olayan. In July, Texas issued a securities misconduct prohibition order.

Nui was fined $25,000 by the State of Texas Securities Authority in the month of February 2019.

I’m not sure when Richard Smith departed Nui, but he reappeared in the month of March 2019 alongside the Digital Vault as well as RevvCard.

Products by TranzactCard

TranzactCard sells VISA credit cards.

1- TranzactCard is the digital & plastic transaction card that bears the authorized Visa bank card branding plus may be utilized wherever Visa is permitted, 

2- TranzactCard Financial Ecosystem’s public-facing identity.

The official FAQ for TranzactCard adds additional institutions to the mixture;

With the initial phase of TranzactCard, the present bank is Evolve Bank & Trust, N.A.

In terms of functionality, The TranzactCard VISA card includes every day & monthly expenditure limits:

The present security limitations associated with your TranzactCard service are $5,000.00 per day, with a monthly limit of $15,000.00.

24th of June 2023 – I’ve been able to verify that TranzactCard’s Visa payment card is a white label of Steady Financial Technologies, which is dba Strong, thanks to a user tipoff.


Solid Financial Technologies, Ltd. as well as its affiliated companies provide financial services as a software service layer among banks & financial software companies that use our products and services.

Using Solid’s bank partners, we give Clients financial amenities.

Solid’s associate financial institutions, which are FDIC-insured, offer payments & credit card services.

Z-Bucks are among the TranzactCard’s VISA card’s advantages.

Z-Bucks are earned at one Z-Buck for each dollar that is spent on the card’s balance.

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TranzactCard card subscription is twenty-five dollars for the first year, then four dollars and fifteen cents every month as well as forty-seven dollars yearly.

The Compensation Plan of TranzactCard

TranzactCard’s compensation model is based on consumer purchases or hired associates using the organization’s VISA card.

TranzactCard uses “Basis Credits” for determining commissions.

Profits from fees charged by banks, banking promotions, product borders, and ad supplier volume bonuses are all examples of transactional exchange charges.

  • TranzactCard provides Basis Credits with 0.0001 percent percentage worth to each purchase conducted in the aforementioned sectors.
  • In terms of commissions given away, TranzactCard sets a maximum of thirty percent on revenues earned through TranzactCard utilization by acquired downline merchants.
  • If the real quantity is below thirty percent, the amount that is due ratio is reduced till a 30% to 70% balance of downline consumers and downline associate card utilization is achieved.

Commissions on retail sales

TranzactCard affiliates earn Basis Credits depending on ranking on purchases produced by directly recommended retail consumers: 

Affiliates Receive Transactions 
DBO10 BPs5 BPs
Manager 12 BPs6 BPs
Senior Manager 14 BPs7 BPs
Vice Presidents 16 BPs8 BPs
Senior Vice Presidents 18 BPs9 BPs
Presidents 20 BPs10 BPs

Recurring Commissions

TranzactCard compensates residual commissions with a one-level remuneration scheme.


If any of the level 1 associates acquire additional affiliates, they are assigned to the initial affiliate’s unilevel group at degree 2.

If any level 2 associates join new affiliates, they are promoted to the next level 3, & so on until a limitless amount of degrees.

Bonus Rebate Check

A $500 refund cheque is sent to a TranzactCard associate who qualifies as Director.

The definition of a refund check is unclear, although it appears to be a credit towards their Visa debit card spending.

Grants for Manager Growth

Affiliates Receive Team Levels
Managers $50Six 
Senior Managers $50Seven 
Vice Presidents $50Eight 
Senior Vice Presidents $50Nine 
Presidents $50Ten 

Bonus on top of the bonus

The company associates with a managerial or superior position receive a Matching Plus on Management Bonus given to directly acquired lesser tiered Managers and higher.

For instance, as a Vice President, you will receive a matched bonus on personally hired Management & Directors.

Account for Power Savings

An Ability to Conserve Accounts is available through it.

Eric H. Allen states in an advertisement on the company’s TranzactCard channel on YouTube that the Power Conserve Account gives a

The interest rate is fixed and is greater than any financial institution you’ve ever encountered. The remainder will be fluctuating earnings linked to our investment in the real estate company.

Their affiliates can increase their Power Savings balances in three ways:

  • 1% of Z-Bucks purchased are transferred to the Power Saving Fund 
  • Two to four percent rebate provided at stores is transferred to the Market Save Fund.
  • Every TranzactCard purchase can be tallied up to the following dollar, resulting in a  value transferred to the Market Saving Accounts.

Signing up for TranzactCard

If you have sensitive information or have had a personal experience with TranzactCard but want to stay anonymous, then submit it using our secured form. You can connect with our expert contributors and help in finding the truth. We never share your information with 3rd parties.

TranzactCard affiliation is 495 dollars, followed by 150 dollars every other month.


TranzactCard is essentially an earnings possibility based on an MLM reward system if you remove the Power Save Accounts.

Your pay, which includes incentives, is entirely based on Member activities and yearly card payments within your Virtual Branch Communities.

The Power Save Accounts is defined in a formal TranzactCard “Glossary of Terminology” page as:

An extended-term deposit that increases regularly and automatically, accumulates economic velocity.

TranzactCard’s advertising mentions the process of compounding implying that this is primarily an investment card with a passive yield.

It’s genuine cash, as demonstrated via Eric H. Allen during the earlier mentioned authorized TranzactCard advertising clip.

The Power Save Accounts will receive one percent of all Z-Bucks you spend.

Each time you spend 100 Z-Bucks, one US dollar is deposited into your Power Save Accounts.

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Consider that the company’s marketing videos for TranzactCard claim a fixed rate of interest that’s greater than any financial institution you’ve previously heard of. It’s an issue that you’re not saying why.

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Associates have lost cash thanks to TranzactCard’s income instances, as stated aforementioned. In the preceding instance, a twelve thousand dollar expenditure results in a monthly fee of $12.

To break even, the same associate would have to allocate fifty thousand dollars each month.

TranzactCard Review: Is it legitimate or a fraud?

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What exactly is a Tranzact Card?

Tranzact Card is a digital and analog transactional card that may be utilized anywhere and is branded with the well-known Visa bank card logo.

Tranzact Card states the company is not an institution of finance and that all of its banking services are provided by the company it partners with Solid Financial Technologies, Llc.

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According to its web page, the CEO of the organization is Richard Smith, and the business is based in the United States.

In accordance with SimilarWeb, the website in question has received over 4.8k visitors, and the website’s domain was first assigned in April of 2021, based on WHOIS.

Tranzact Card also has a referral scheme that enables customers to receive extra rewards in addition to the benefits of its services. Its associate subscription costs four hundred fifty dollars and 150 dollars each month after that.

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Tranzact Card Evaluation

We discovered grey traits in this organization after studying its company plan and associate network. Following are a few benefits and drawbacks as well:

Positive Negative 
The founders are visible in publicNegative online feedback
Complete opennessOperators’ questionable history
Contact assistance that is dependable
Exact information provided

It’s obvious from the above points that they are not as reliable as they market themselves to be. It would be better for you to spend your money elsewhere.

On the other hand, if you have any experience dealing with such MLM companies, please share it below in the comment section.

TranzactCard Review: An MLM Scam By Richard Smith? (Update 2024)
TranzactCard Review: An MLM Scam By Richard Smith? (Update 2024)

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  1. When they build a company off of saving you money by using their monopoly Z bucks beware they have a z store with no real savings on most products they have video’s saying the will have thousands of named products in there for you to save on .They don’t you can open a shopify store an d have thosands of products and set up for you in a week. when a ceo gets on a video and tells you if you dont like the store dont buy he is not fit to run a company. they have launched and have no debit card The so called store has almost nothing the average person would buy you can go online to alot of stores and beat the savings. REMEBER THIS IS BEING SOLD AS YOU SAVINGS ON PRODUCTS AND NOT SO. THEY HAVE MISSED SO MANY DEADLINES ON PROMISES.THEY HAVE SOLD TZM CARDS TO 30,000 PEOPLE AND THEY CANT EVEN USE THEM TO GET THE Z MONOPLY MONEY TO USE IN A STORE THAT HAS OVER PRICED GOLF CRAP DIAPERS THEY SELL 5 BOXES AND THEY ARE OUT YES A COLASPE IS COMING THEY HAVE HAD 7 MONTH TO DO A STORE AND LOOK AT IT RIGHT NOW ONLY MONEY FROM RECURITMENT IS BEING PAID OUT THERE ARE NO CARDS TO SWIPE TO BRING IN THERE GIFT CARDS ARE ANOTHER JOKE YOU CAN GO TO 2BANKTOGO AND GET 7% CASH BACK FROM BUYING ANY GIFT CARD WHY ARE THEY MAKING IT A REQUIRMENT TO GET PAID YOU HAVE TO BUY A GIFT CARD THRU TRANZACT EZ POWER THIS COMPANY IS BUILT OFF SMOKE AND MIRROWS AND WILL COLASPE PRETTY SOON IT IS A SHAME THE IDEAR WAS GREAT AND THEY LAUNCHED AND NOTHING IS RIGHT

  2. when your sponsor tells you to sign up your kids and spouse as DBO IS A rED fLAG TO ME

  3. The day after I signed up to be a DBO they lost the Visa symbol, and along with that their FDIC backing. I went through all of the training and listened cautiously to the wording, particularly for the Z bucks rewards program. They say in the videos that you can buy down the purchase price with your Zbucks for a discounted amount. If that has changed the video is not altered to match. Also, everyone is discouraged from social media posts, under the premise that the Visa logo is in much of the printed material. It has been seven days since I have requested a refund. I have multiple emails back and forth, and have contacted my credit card company to file a report. The first excuse they gave for not being able to refund me was that I had loaded a EZ power card, and while that had a balance I would not be able to use the balance to purchase gift cards if they refunded my DBO payment. I proceeded to purchase as many gift cards as I could, which the smallest multiple is $25 plus $1.50 service charge. So there remains a balance because it’s a minimum $100 to load the thing. I haven’t calculated how much I’d have to load it to get to a zero balance after purchasing cards and paying fees, because I’m not about to do that. Because I haven’t been refunded I still have access to their messaging, and they announced that Richard Smith has officially stepped down today, in an effort to save the good name of the company, but he is still active within the company, just not the CEO. The second excuse for not processing my refund is that my location zip code at time of purchase doesn’t match their system. I’ve been in retail sales a long time, that does not stack up at all. If I do receive a refund, I’ll comment back here. I would just like to end with buyer beware.

  4. It is not a MLM. It is a franchise.
    So…is your information credible?

  5. So how about the past scams that pended launches Richard Smith created, do research on the “revvcard” or R network. This isn’t new and I hope you get your money back. Wish you all the best during this launch, hopefully the past doesn’t repeat itself.

  6. I sign up as a DBO with Tranzact card for $495 to open up my own business branch and where else in our country can you do that. There are over 40,000 people involved with Tranzact card prelaunch as a card holder or DBO. This company will explode when launched November 12th,2023 in Vegas. I do believe in this company 100% and it’s not a scam. This company is going to help me retire early in life. We need more people to tune-in to our live zoom meetings on Tuesday and Thursday at and at 3pm/9pm EST and on Wednesday every hour on the hour from 12pm thru 9pm EST. They will explain everything you need to know about being a card holder or a business own if you choose to do that and how you can make extra bonuses during in those meetings. If you decide to sign-up after watching the zoom meeting. You can go to my website to sign up. Thank you for taking the time from your busy schedule to read about this amazing company that is going to change people’s lives one swipe at a time.

    • The business model is dog shit. They can’t do what they plan on doing without running at a loss, which isn’t how businesses operate. It’s a pretty obvious rug pull as well. Take peoples money for monthly/yearly fees for a couple months to a year, and then run away with everyone’s money before they realize it’s a scam. It’s sad to see people put money into it thinking it will get them closer to retirement when they are actually just getting taken for a ride. At the end of the day, you are learning a $500 lesson on things that seem too good to be true Robert

  7. You seemed to pissed off the scammed in your comment section. Would love to talk with you about your research here.

  8. I don’t know Terry Phillips, but his comments SCREAM “correction” on several points!
    In reading over this information, I too found numerous DISCREPENCIES and IF this publication is as legit as it wants to appear — then “the powers that be” will make the appropriate corrections and point them out.
    As the saying goes — “I’ll wait!” for an update about Tranzact Card and move forward saving/using “Z-Bucks”

  9. It is easy for you to evaluate a company but please understand, this company is still in a prelaunch building and morphing process. There will be foibles and issues that come up. Rapid growth can test the systems and communications may be strained or overlooked. Not only that, but your facts and figures and just about everything you have listed on the company has been changed and updated as the company is maturing and organizing to full launch in November. New Revenue Plan, all kinds of changes that you need to be honest with up front.

    Peter Rancie is the financial brains behind Tranzactcard. He has 40 years in the field of banking and finance and was a co-founder of the United States Bankers Association. He directs TZTs engagement with banks, registered investment advisers and fund managers necessary to the TZT ecosystem. He knows what he is doing and has a handle on what is coming to Tranzactcard affiliates and members in the future.

    I am fully convinced that TranzactCard is a viable and honorable company that has a very bright future. They call it disruptive and rightly so. If a new company begins to step on the toes and take business or affiliates away from other direct sales companies or Visa card companies or banks, they are going to squeal fowl and try to take the new company down.
    That’s life.

    It is not a scam! Correct your score to reflect the facts.

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