Overview
Founded in 2014, Magothy Payments (magothy.biz) is a merchant account provider that is capable of serving most standard-risk business types. The company is a reseller of Banc Certified Merchant Services and primarily serves merchants based in Maryland. Banc Certified Merchant Services is a registered ISO/MSP of Elavon, but Magothy is also capable of processing through Priority Payment Systems and iPayment if needed. Magothy Payments is headquartered at 8000 Jumpers Hole Road, Suite 209, Pasadena, Maryland 21122, and Jaron Rice is the company’s owner.
Key Points
- Sales & Marketing: Magothy Payments does not appear to rely on independent sales agents and has not received any complaints about its sales practices.
- Costs & Contract: Magothy Payments offers month-to-month contracts through Elavon, Priority Payment Systems, and iPayment with no early termination fees.
- Complaints & Service: Magothy Payments has received fewer than 10 public complaints and a high number of positive testimonials.
- BBB Rating: Magothy Payments has received zero complaints with the Better Business Bureau and has an “A+” rating.
- Rates & Fees: How Merchants Got The Best Rates With Magothy Payments
Top Rated Merchant Accounts of 2018
Response from Magothy Payments
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Magothy Payments Bottom Line
Magothy Payments rates as an exemplary provider according to our rating criteria. The company advertises competitive contract terms and appears to place a high premium on transparency and customer service. Our rating may be subject to change depending on merchant feedback, and merchants are still encouraged to scrutinize the terms of any contract they are asked to sign.
About Phillip Parker
Phillip Parker is a former merchant services sales agent who believes the industry has been overrun by people who engage in fraud and deception in order to steal from hard working business owners. He created this website to help you avoid the bad players, save money on fees, and to get peace of mind with your merchant account. If you would like to help support his work, learn more about our cost reduction service. We can evaluate your statement, tell you exactly how much you're overpaying, and then help you dramatically reduce your fees with your current credit card processor. Looking to switch instead? See our list of the best merchant account providers.
Schedule a Consultation with Phillip
Magothy Payments is 100% a top notch company. Not only am I saving tons of money each month, anytime I have a question I call and actually speak to a real person. Fast, friendly and accurate service. Magothy makes my business their #1 priority every single day.
Great customer service, and it’s so nice saving money.
From the moment you meet Jaron and interact with the company you know they will make processes smooth and painless. The process is upfront and very professional. The service definitely puts the mind at ease with a good relationship being first followed by a side effect of growth. Glad we made the switch and got a referral to them.
Hi Oscar,
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Jaron and his team at Magothy Payments have been TOP NOTCH. It is great to have that local touch when you need it, especially when you are dealing with other people’s credit cards in today’s world! Thanks for all you do to support our small business…keeping our customers safe!
I was going to wait until after things have been set in stone with our business and the new way of operating before leaving a review for Magothy Payments. But, I feel the need to do it now, and I may edit as time goes on… the service that this company provides is exceptional. Jaron reached out in the middle of a family emergency to make sure that we have what we needed. He has been very easy to reach any time that we need him with a quick response rate. We aren’t using our new machine yet, because we are about to reopen for the season, but the rates that he provided us with, along with his customer service are the best.
Hi Lyndsay,
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Joe’s Seafood
Severna Park, MD
Magothy is wonderful and they really do live by their phrase that relationships are more important than transactions. They are also constantly working to help improve their customers experience. Customer service is A+.
Hi Ellen,
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Jaron worked with my previous employer so when I opened up my own business, I knew where to go. Jaron has always been there to answer all my whestjons with processing and walked me through step by step when setting everything up. I wouldn’t use anyone else!
Jaron reached out to us and gave us pricing which was much better than where we were at that point. We switched over to Magothy payments and have had some small issues with the setup but Jaron came out several times to make sure everything was up and running smoothly. Any problems, I don’t hesitate to reach out and get a response within minute.
Magothy Payments have been excellent. Jaron has saved me thousands of dollars. Jaron is hands on and is always there if needed. Highly recommend Magothy Payments and Jaron.
I’ve been using Magothy Payments for a while and am very satisfied with the service that is provided.
Jaron is great
Perfect in every way!!! Always there if we have a question and saved us a ton!!!
Hi Chris,
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Great owner, great company, saved us alot of money and the online portal works great for us!*****
Hi Amy,
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A1septic service of Pasadena md
8209 varnedoe lane Pasadena md 21122
410 437 5115
We give 5*
I’ve used other merchant services and Magothy Payments is beyond the best. Not only was it the beat rate around, but they network you with other clients, and I have actually made more money from their referrals alone, then I have paid in fees. They take the time to take care of you on a personal level even after you sign, I’m yet to see another company that comes close.
Jaron reached out to me several times offering his services and I was hesitant to switch. Ultimately gave it a shot and made the switch and noticed immediate reduction in my credit card processing fees.
What impressed me the most about Magothy Payments was the transparency of the fee structure and the commitment to customer service.
Tony Ferrer
Warriors of Grace Karate
We have been doing business with Magothy Payments since Feb. 2017 and are very please with the personal attention and savings!!! I was never able to reach my other company without being on hold for 20 min. Thank You Magothy Payments! We look forward to continuing our relationship with you.
One of my favorite things about Magothy Payments is their hand-on approach. I am too busy to try to figure out a new system or tackle a payment processing problem. Jaron and his team understand this and help me through every step of the way. Time really is money. I appreciate that Magothy gets that.
Magothy Payments takes the confusion out of merchant services and delivers a straight forward approach to handling C/C processing. Their team brings integrity to an industry that most feel otherwise about. Quality people, quality service and rates that save you money! Can’t recommend them enough.
Magothy Payments and Jaron Rice are great! We are a fairly new business with no prior knowledge of credit card processing and all of it’s intricacies. Jaron has walked us through every detail, each step of the way. He is always available to answers questions and to problem solve. Best of all, we are saving a lot of money too! I highly recommend Magothy Payments to any business who wants exceptional customer service and wants to save money!
We save money every month since switching to Magothy Payments. And Jaron provides excellent customer service as well!
Magothy is great. Jaron makes merchant services easy and is a trustworthy gentleman. This is refreshing for the merchant service industry as a whole. I would recommend Magothy to any business.
Magothy Payments is the only solution for a business that is looking for reliable, trust worthy, and quality business provider! We are ecstatic that we made the move!
So grateful to have come across Magothy Payments . After 12 years of being charged ridiculous fees and not have the personable contact person to reach out when things seem “off” , this was a HUGE breathe of fresh air ! It was so easy to learn and navigate the platform and the best part is that Jaron comes with it . He’s one of a kind as a person and a businessman . Wish there were more business people like him still around !
This company is great and beat any other rate that we searched
Hi Jen,
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This company Beat any other rate that we searched including a rate given to us by our own bank. We are located in Pasadena Maryland