Strategic Payment Systems Reviews & Complaints

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Company Overview

Strategic Payment Systems is a merchant account provider that was launched in 2011 by 2 founding members of COCARD. The company has an uncommon business structure for a credit card processor, as it compensates its ISOs primarily in shares of stock rather than long-term residual payments. The company was acquired in 2020 by Payroc, though it is still run as its own brand.

Strategic Payment Systems URLs

We have found at least three primary websites for Strategic Payment Systems, and it is likely that each of the following web addresses is associated with a different ISO of the company:

Strategic Payment Systems Payment Processing

Though each ISO may have different features, all Strategic Payment Systems companies process all major debit and credit cards for most business types. Their services likely include EBT processing, ACH and check processing, mobile solutions, access to virtual terminals and payment gateways, cash advances, and gift and loyalty programs.

Location & Ownership

Strategic Payment Systems utilizes National Processing Company (NPC) as its backend processor and is a registered ISO/MSP of Wells Fargo Bank, N.A., Concord, California; and of Fifth Third Bank, Cincinnati, Ohio. The company is headquartered at 45 Dan Road, Suite 100, Canton, Massachusetts. Rick Pylant is listed as the co-founder and CEO and Jon Stevens is listed as the President of Strategic Processing Systems.

Strategic Payment Systems Customer Reviews

Here's What Their Clients Say

Customer Reviews Summary
Total Online Complaints <10
Live Customer Support Yes
Most Common Complaint N/A
Recent Lawsuits No

Minimal Complaints Reported

We have only uncovered one negative review of Strategic Payment Systems (SPS), and even this review stops short of labeling the company as a ripoff. The sole complaint revolves around challenges in canceling services, involving Strategic Payment Systems and NPC, compounded by confusion stemming from the company’s transition from the name COCARD. As this single complaint stands alone across various consumer protection platforms, it is unlikely to significantly impact the company’s overall standing. If you have your own experience or review regarding Strategic Payment Systems, we invite you to share it in the comments section below.

Legal Standing and Penalties

To date, there have been no reported class-action lawsuits or FTC complaints against Strategic Payment Systems. Dissatisfied customers seeking recourse can explore options with relevant regulatory bodies.

Customer Support Options

While Strategic Payment Systems offers direct phone support through its Independent Sales Organizations (ISOs) and backend processors, the quality of service may vary depending on the specific branch a client interacts with. Presently, Strategic Payment Systems does not rank among the top payment processors for exceptional customer service.

Strategic Payment Systems Contact Information

  • (888) 332-9140 – Toll-Free Customer Support
  • (781) 828-2523 – Local Office
  • (781) 828-0449 – Fax

Other Support Options

Strategic Payment Systems Online Ratings

Here's How They Rate Online

Online Ratings Summary
BBB Reports 1

Nearly Clean Complaint Record

Strategic Payment Systems currently has an “A+” rating with the Better Business Bureau and is not BBB-accredited. The company has received 1 complaint in the past 36 months. It has not received any informal reviews, although it should be noted that these reviews are not always subject to verification by the BBB.

An “A” Performance

In light of SPS’s clean complaint record, we agree with the BBB’s rating. Businesses should be aware, however, that there are good reasons to be skeptical of the BBB’s rating system.

Strategic Payment Systems Fees, Rates & Costs

A Closer Look at The Contract

Cost & Fees Summary
Cancellation Penalties Yes
Monthly & Annual Fees Yes
Processing Rates 1.00% - 4.99%
Equipment Leasing Yes

Variable Contract Terms

Current information about Strategic Payment Systems (SPS) rates and contract terms is limited. As a reseller of NPC merchant accounts, SPS’s basic contract is likely reflective of NPC’s standard terms. Typically, NPC’s contract includes a three-year term, auto-renewing for two years, with a $250 early termination fee and a $20 monthly PCI compliance fee. However, SPS and its sub-ISOs may adjust these terms as needed.

A standard NPC merchant agreement also includes a 48-month non-cancellable equipment lease. These leases often lead to businesses paying significantly more than the equipment’s actual cost. Additionally, these leases persist even if a merchant agreement is cancelled, independent of any early termination fee payments.

Virtual Terminal and Payment Gateway Pricing

Alongside its in-store payment processing, Strategic Payment Systems promotes its virtual terminal and payment gateway services. Specific pricing for these services is not publicly disclosed. Commonly, additional rates and fees such as gateway fees, technical support fees, batch fees, and transaction rates are applicable to these e-commerce services.

No Contract Complaints

The absence of Strategic Payment Systems complaints regarding pricing and contract terms suggests that SPS might offer satisfactory terms. Nonetheless, it’s uncertain whether SPS’s pricing is as competitive as the most affordable merchant accounts. Readers with insights into the standard Strategic Payment Systems contract, including monthly minimum fees, statement fees, and pricing structures, are encouraged to share their experiences in the comments below.

Strategic Payment Systems Employee Reviews & Sales Tacitcs

Should You Work For Them?

Jobs & Marketing Summary
Uses Independent Resellers Yes
Telemarketing Likely
Misleading Marketing No
Discloses All Important Terms No

Outside Sales Team

As noted above, Strategic Payment Systems appears to partner with a large number of independent resellers to market its services at various locations across the country. This sales strategy is often linked to high complaint rates among merchants, but in this case, we are unable to locate any Strategic Payment Systems reviews that describe unethical behavior by the company’s sales team.

This compares favorably to our list of best credit card processors.

No Deceptive Quotes

As an additional point in its favor, none of the company’s primary websites feature deceptive Strategic Payment Systems rate quotes or other misleading promotional language. If you suspect that Strategic Payment Systems is overcharging you, you can double-check your monthly bill with a third-party statement audit.

Our Strategic Payment Systems Review Summary

Our Final Thoughts

Strategic Payment Systems rates as a reliable credit card processing provider according to all available information. There is only one public complaint posted against the company, and there is no indication that SPS engages in deceptive advertising strategies. Our grade for SPS may change once more information about its contract terms becomes available. For now, readers are encouraged to compare SPS’s pricing to that offered by top-rated merchant accounts in order to obtain the best deal.

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Which is Most Important for You?

If you had to pick one, which quality would you say will be the most important with your next credit card processor? Tap or click your selection to register your vote:

  1. Low Transaction Fees
  2. No Monthly Fees
  3. No Contract
  4. Reliable Customer Support
  5. Quick Signup

Testimonials & Complaints

How Did Strategic Payment Systems Treat You?

1 User Reviews

  • Miguel Vanessa

    I am delighted to share my experience with Strategic Payment Systems! As a business owner, managing payments efficiently is crucial, and I can confidently say that SPS has been a game-changer for me. Their seamless payment processing solutions have streamlined my operations, saving time and money.

    From the get-go, SPS’s team demonstrated utmost professionalism, understanding my unique business needs and tailoring their services accordingly. Their cutting-edge technology ensures secure transactions, and the integration was a breeze. What truly sets them apart is their dedicated customer support; they’re always just a call away, ready to assist with any queries.

    Since partnering with Strategic Payment Systems, my business has witnessed a significant boost in customer satisfaction, thanks to their diverse payment options. I highly recommend SPS to any business looking for reliable and hassle-free payment solutions. They’ve truly earned my trust and loyalty!

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