mTech Payments Review

Name: mTech Payment
Item: mTech Payment
Rating: 3.75
Author: Phillip Parker

By Phillip Parker

Last Updated: November 1, 2019

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mTech Payment Rating

3.75/5

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A Hardware Focused Merchant Account Provider

Founded in 2012, mTech Payments is a merchant account provider that offers payment processing as well as equipment rentals, and services such as terminal repair. The company’s equipment rental program is a core component of its business. According to its website, merchants can rent payment processing equipment for as little as one day. Short term equipment leases make mTech an asset for merchants doing trade shows, one-time fundraisers, or those that have seasonal businesses. Beyond its equipment rental program, the company also offers in-store retail merchant accounts and e-commerce solutions.

Location and Ownership

mTech Payments is located at 248 N. Main Street, Spanish Fork, UT. The company does not disclose its acquiring bank. Matt Olsen is listed as the owner of Strategic Merchant Solutions.

Strategic Merchant Solutions Review Table of Contents

Costs & Contract: mTech Payments does not disclose its contract terms. The company does provide equipment rentals lasting as little as 1 day.
Complaints & Service: mTech Payments has received fewer than 10 public complaints.
BBB Rating: mTech Payments currently has a “C” rating with the Better Business Bureau and has received 1 complaint in the last 3 years.
Sales & Marketing: Strategic Merchant Solutions does not appear to hire independent sales agents but has not had complaints about its sales practices.
Rates & Fees: How Merchants Got The Best Rates With mTech Payments.

mTech Payment Customer Reviews

Here's What Their Clients Say

Key Points
Total Online Complaints	<10
Live Customer Support	Yes
Most Common Complaint	N/A

Clean Complaint Record

We have not been able to locate any negative reviews about mTech Payments. Given the wide array of services offered by the company, this is an indicator of its high standard of service. Since mTech provides everything from merchant accounts and equipment to services and supplies. It should be noted that this complaint section does not include any that may have been left with the Better Business Bureau.

mTech Payments Lawsuits

We have not found any outstanding class-action lawsuits or FTC complaints filed against mTech Payments. Dissatisfied merchants who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations.

mTech Payments Customer Support Options

mTech Payments provides 24/7 telephone support and an automated form for responses to support requests. This is not as comprehensive as what some of the best merchant accounts for customer service typically provide. However, 24/7 dedicated phone support is a good sign that the company is responsive to a merchant’s issues.

No Red Flags

Though there is no evidence to suggest that merchants are having negative experiences with the company. The lack of complaints, reasonable customer service options, and clean legal history are the reasons behind the company getting an “A” rating in this category.

mTech Payment Online Ratings

Here's How They Rate Online

Online Ratings Summary
Product & Service Complaints	0
Billing & Collection Complaints	0
Advertising & Sales Complaints	0
Guarantee & Warranty Complaints	0
Delivery Complaints	0

Note: We have adjusted this company’s BBB rating according to our own standards. To better understand why we adjust BBB ratings, please see our Rating Criteria.

Low Complaint Record

mTech Payments is not currently accredited with the Better Business Bureau. The company does not have any informal reviews on its BBB profile either. As of this review, mTech Payments has a “C” rating with the BBB and has had 1 complaint filed against it in the last 36 months. The lone complaint filed against the company was in regard to a problem with a product or a service. This complaint was left by a merchant who was unable to use a payment processing terminal rented from mTech. Furthermore, the merchant was unable to resolve this issue through the company’s customer service channels. mTech has not answered this complaint through the BBB either.

An “B” Performance Overall

We have adjusted the BBB’s rating from a “C” to a “B” in this category. Given the company’s low complaint total, giving it a “C” rating would place it among other company’s with a much higher volume of complaints. However, the company’s decision not to answer its lone complaint precludes it from receiving a higher grade. Merchants should be aware, however, that there are reasons to be skeptical of the BBB’s reviews.

mTech Payment Fees, Rates & Costs

A Closer Look at The Contract

Key Points
Swipe Rate	1.00% - 4.99%
Keyed-in Rate	1.00% - 4.99%
Virtual Terminal Rate	1.00% - 4.99%
Payment Gateway Fee	Undisclosed
Early Termination Fee	Undisclosed
PCI Compliance Fee	Undisclosed
Equipment Purchase Cost	Up to $999
Equipment Rental Cost	Undisclosed
Equipment Lease Term	Undisclosed

Left in the Dark on Contract Terms

There is little-to-no available information about mTech Payments’ contract terms and pricing structure. According to the company’s website, it specializes in providing merchants with payment processing equipment from software to hardware options. Yet the costs of these services, including equipment repairs and rentals, is not listed.

There are also dedicated portions of the mTech Payments website that refer to its payment processing services. Those sections of the website do not expound upon any pricing details or which backend processor the company relies upon.

Virtual Terminal and Payment Gateway Pricing

In addition to its storefront payment processing services, mTech Payments also dedicates a portion of its website that advertises its virtual terminal and payment gateway services. However, pricing on either of those services is not disclosed. Additional rates and fees, including gateway fees, technical support fees, batch fees, and additional transaction rates typically apply to these e-commerce services.

Equipment Rental

A unique facet of mTech Payment’s services is its equipment rental program. Typically, merchants must either purchase or enter into an equipment lease with a payment processor for payment processing terminals. However, mTech Payment provides equipment rentals to merchants for short term use. The company’s website states that the rental terms can be for as little as 1 day. This service is useful for events like fundraisers, seasonal businesses, or other short-term campaigns where merchants may not need processing equipment for long. The flexibility offered by this rental program saves the expense of purchasing equipment, though mTech provides a range of options for that as well, which can help merchants avoid long-term equipment leases. While the company lists the prices of its terminals for an outright purchase, its rental fee is not disclosed.

A “C” Overall

mTech’s lack of a visible pricing structure makes it difficult to assess its costs and contract terms. The company provides a range of services that are not typically offered by standard merchant accounts, such as terminal repairs, supplies, and its aforementioned rental program. However, since merchants are not able to identify those costs, the company received a “C” in this category.

mTech Payment Employee Reviews & Sales Tacitcs

Should You Work For Them?

Key Points
Employs Independent Resellers	No
Advertises Deceptive Rates	No
Discloses All Important Terms	No

Strategic Merchant Solutions Sales Tactics

mTech Payments does not appear to hire independently contracted sales agents to market its services. This is evident from the lack of an advertisement for a reseller program on the company’s website. There are no other complaints about the company’s overall sales practices online either.

Unclear Pricing

To its credit, mTech Payments does not appear to list deceptive rate quotes in its official materials. However, this is due to the fact that the company does not disclose any information about its pricing. There is no indication as to whether the company resells the contracts of another major payment processor, which would give some insight into the rates and fees a merchant could expect. Though the company has signs emblematic of those associated with an ISO/ISA, it is unclear which merchant account provider it may be reselling the services of.

While the company has no complaints about its sales practices, the lack of any information into its pricing makes it difficult to assess the viability of its services. Given how unclear the company’s rate and fee structure is, we award mTech Payments a “C” in this category.

Our mTech Payment Review Summary

Our Final Thoughts

Unclear Terms Make it Hard to Tell

mTech Payments holds the unique distinction of being able to offer services that many other merchant accounts do not. The company’s repair and equipment rental services emphasize its hardware expertise, as does its wide array of terminals available for purchase. That selection is especially valuable as it allows merchants to avoid long term, non-cancellable equipment leases. However, the company sorely lacks any available information on its pricing structure. Without any insight into its rates or fees, it is difficult to reach a conclusive determination on its merchant accounts.

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About The Author

Phillip Parker

Phillip Parker is an independent card payment expert specializing U.S. and Canadian point-of-sale, e-commerce, and mobile payment acceptance. He has nearly two decades of experience in credit card processing as a journalist and consultant. Phillip is the creator of this website and has written over 1,500 articles covering numerous payment acceptance topics. He has also published critical reviews about most merchant services providers currently in operation.

Expert Guidance

Phillip has consulted businesses of all sizes from mom-and-pop shops processing $10K per month to enterprise level organizations processing in excess of $300MM annually. His specialties include:

– Merchant Account Statement Auditing
– Rate & Fee Negotiation
– Processor & POS Selection
– Software Integrations
– Risk Assessment
– Fraud Prevention
– General Processing Advice

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Phillip’s Top Picks

Phillip has researched and reviewed over 1,000 merchant services providers over the last 15 years. He also owns multiple businesses that accept credit card payments. If you are looking for an ethical credit card processor that doesn’t hide fees or lock you into expensive contracts, see Phillip’s merchant account picks here.

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In addition his contributions on CPO, Phillip has also been quoted in several major publications such as The Los Angeles Times, INC Magazine, Miami Herald, Computer World, and numerous others. If you would like to interview Phillip for your story or podcast, please reach out here.

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