About i3 Verticals
Overview
i3 Verticals is a Nashville, Tennessee-based payments and software company founded in 2012 by Greg Daily. The company is publicly traded on the Nasdaq Global Select Market under the ticker symbol IIIV and operates as a holding company for a portfolio of subsidiaries that deliver integrated software and payment processing services to organizations in specific vertical markets.
Services
i3 Verticals provides credit and debit card processing, ACH and electronic check services, mobile payments, online payment gateways, virtual terminals, point-of-sale equipment, and gift card and loyalty programs. Beyond payment acceptance, the company licenses and supports proprietary software platforms used by clients to run their day-to-day operations alongside payment functionality.
Markets Served
i3 Verticals has restructured around public sector and education verticals after divesting a substantial portion of its merchant services business in 2024. Current focus areas include public administration, transportation, courts and justice technology, utilities, and K-12 education. The company has historically grown through acquisitions of regional software vendors and independent sales organizations.
Pricing
i3 Verticals does not publish merchant processing rates or contract terms on its website. The following summary reflects information reported by user reviews and expert content rather than figures disclosed by the company.
Processing Rates
Expert reviews report that i3 Verticals merchant agreements typically use a tiered pricing model with separate qualified, mid-qualified, and non-qualified rate buckets, and that swiped and keyed-in card rates are reported to fall in a broad range of roughly 1.00 percent to 4.99 percent depending on the merchant category, card type, and underlying processor relationship.
Contract Terms and Other Fees
Merchant agreements are reported to run for a three-year initial term with an early termination fee starting around 299 dollars. Reviewers describe an annual fee of roughly 79 dollars and reference additional charges that are typically present but not publicly itemized, including monthly minimum fees, statement fees, batch fees, PCI compliance fees, technical support fees, and payment gateway fees. Equipment is reported to be available through non-cancellable lease agreements with monthly lease payments and a separate lease cancellation fee.
Legal & Regulatory Actions
Louisiana Cybersecurity Litigation (2021)
In June 2021, the State of Louisiana, through its Division of Administration and the East Baton Rouge Parish Law Enforcement District, filed a petition against i3-Software and Services, a Shreveport-based subsidiary of i3 Verticals. The action arose out of a ransomware-related incident affecting a third-party remote access tool used in software the subsidiary provided to certain Louisiana parish law enforcement agencies, and it alleges that the subsidiary's cybersecurity practices were inadequate. The company has disclosed in securities filings that it has cooperated with a related United States Department of Justice inquiry into the underlying breach activity.
Expert Auto Repair Class Action (2016)
In June 2016, Expert Auto Repair filed a putative class action against the company in the Los Angeles County Superior Court of California, seeking damages, restitution, and declaratory and injunctive relief on behalf of a class of California merchants. According to the company's subsequent disclosures, the matter was resolved through a settlement agreement.
Contact
Ownership/Leadership: Greg Daily, Chairman and Chief Executive Officer
Address: 40 Burton Hills Blvd., Suite 415, Nashville, TN 37215
Phone: (800) 203-7981
Website:i3verticals.com
Recent User Reviews
**Warning**: Beware of i3 Verticals! My experience with them was an absolute nightmare of false promises, inconsistency, and disrespect. They wasted two months of my time, and just days before the start date, they pulled the job offer citing cost concerns after already agreeing to hire me. The deception and bait-and-switch tactics were outrageous, and I firmly believe their actions may even border on illegality.
They offered me a position as an Implementation Specialist, claiming they’d cover expenses like hotel, car rental, gas, and food with a business card. However, they reneged on their promises, leaving me to foot the bill without any indication of when I’d receive reimbursement. This was just the tip of the iceberg. The director seemed clueless and unhelpful, deferring to HR with no accountability.
To add insult to injury, they offered me a different job at a significantly lower salary than what was originally discussed. It was clear they had no respect for my time, my career, or my dignity.
I can’t stress this enough: DO NOT engage with i3 Verticals. Save yourself from frustration, disappointment, and potential financial loss. This company’s practices are highly questionable, and I am taking steps to report them to all relevant authorities. Protect your well-being and stay far away from i3 Verticals – you’ll thank yourself later!
The worst experience I have had with Mr. Sean Parker from Synergy Solution is the person who connected my business with this credit card processing system, I am very dissatisfied and I do not recommend it. I want to change my representative or cancel my account.