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Universal Transaction Processing 2023: Reviews & Complaints
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Founded in 2013, Universal Transaction Processing is a merchant account provider that serves retailers of all sizes in the UK. The company uses Barclays as its backend credit card processor, which is surprising considering that the UK merchant services industry typically relies on companies like First Data (now Fiserv) and Global Payments. The company also provides merchants with virtual terminal services.
Universal Transaction Processing Payment Processing
Universal Transaction Processing appears to process all major debit and credit cards for most business types. Their services include EMV card readers and swipers, POS solutions, mobile solutions, access to virtual terminals and payment gateways, and cash advances.
Universal Transaction Processing: Mobile Payment Solutions
For businesses that operate on-the-go or in varying locations, Universal Transaction Processing provides mobile payment solutions. These services enable businesses to process payments via mobile devices, expanding the range and flexibility of business operations.
Universal Transaction Processing: E-Commerce Solutions
Universal Transaction Processing also offers e-commerce solutions. These services are designed to facilitate secure online transactions, enabling businesses to operate online stores and accept payments digitally.
Universal Transaction Processing: Virtual Terminal
The virtual terminal service offered by Universal Transaction Processing allows businesses to process card-not-present transactions. This service is especially useful for businesses that take orders over the phone or through mail order.
Universal Transaction Processing: POS Systems
Universal Transaction Processing provides point-of-sale (POS) systems that not only process transactions but also offer additional functionalities like inventory management, sales analytics, and employee management.
Universal Transaction Processing: ATM Solutions
Lastly, Universal Transaction Processing offers ATM solutions, enabling businesses to provide cash withdrawal services. This can be a value-added service, especially for businesses in high traffic areas or those that deal with cash-based transactions.
Location & Ownership
Michael Ault is the founder and CEO of Universal Transaction Processing, which is headquartered at Sapphire Plaza, Watlington St, Reading RG1 4RE, UK.
Table of Contents
- Costs & Contract: Appears to offer variable contract terms that may resemble that of Barclaycard Merchant services which potentially include an…
- Complaints & Service: Complaints number fewer than 10 on…
- BBB Rating: Does not have a profile with…
- Sales & Marketing: Appears to hire independent sales agents and has received…
Universal Transaction Processing Customer Reviews
Here's What Their Clients Say
|Total Online Complaints||<10|
|Live Customer Support||Yes|
|Most Common Complaint||N/A|
Low Complaint Total
We are currently able to locate fewer than 10 negative Universal Transaction Processing reviews, and there is no evidence that the company is a ripoff or a scam. The available complaints cite hidden fees, misrepresented rates, fund-holds, persistent sales calls, and poor customer service. Universal Transaction Processing’s low complaint record may be partially explained by the fact that it has only been active since 2013. It may also be because clients receive their credit card processing statements from Barclays and post complaints about Barclays rather than UTP. In the absence of any evidence that this is occurring, we will assume for now that Universal Transaction Processing simply offers solid customer support and does not maintain policies that generate large numbers of complaints. If you have your own Universal Transaction Processing review to make, please do so in the comments below.
Universal Transaction Processing Lawsuits and Fines
We have not found any outstanding class-action lawsuits or FTC complaints filed against Universal Transaction Processing. Dissatisfied clients who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations.
Universal Transaction Processing Customer Support Options
UTP offers phone and email support to all of its users, which is our basic expectation of any top merchant account for great customer service. It therefore receives an “A” in this section.
Universal Transaction Processing Customer Service Numbers
- 0330 99 99 900 – Support
- 0330 99 99 300 – Sales
Other Support Options
- Customer support email address at [email protected]
Universal Transaction Processing Online Ratings
Here's How They Rate Online
No BBB Profile
The Better Business Bureau does not maintain a profile for Universal Transaction Processing at this time. We therefore will not factor a BBB rating into this review.
Universal Transaction Processing Fees, Rates & Costs
A Closer Look at The Contract
|Monthly & Annual Fees||Yes|
|Processing Rates||1.00% - 4.99%|
Variable Contract Terms
There is currently very little public information available about the standard Universal Transaction Processing contract. The company does not share its pricing or contract terms on its website, and there are currently very few Universal Transaction Processing reviews that list specific rates or fees. One UTP complaint in the comment section of this review states that the company offers a 48-month contract with an early termination fee that can reach up to £25,000, which is a staggering amount. It does not seem likely that Universal Transaction Processing charges termination fees that are this high very often because it would almost certainly be mentioned in more merchant complaints. The cost of the early termination fee referenced in that complaint may indicate that the company includes a liquidated damages clause in its contracts.
Partnership With Barclays
Universal Transaction Processing uses Barclays as its processing bank, which may mean that Universal Transaction Processing clients receive their statements from Barclays. Universal Transaction Processing rates and fees may be similar to those offered by Barclaycard, which generally provides an 18-month contract term with a variable early termination fee. Under a typical Barclaycard merchant agreement, a flat fee of 1.25% applies to all transactions. A monthly fee is attached to each option. Countertop terminal services are assessed a monthly fee of £15, while portable terminals cost £20, and mobile payments are the most costly at £25.
The Universal Transaction Processing website states that the company customizes its pricing and terms for each individual business, but that its costs include a monthly terminal rental fee and per-transaction rates.
Virtual Terminal and Payment Gateway Pricing
In addition to its storefront payment processing services, Universal Transaction Processing also dedicates a portion of its website to advertising its virtual terminal and payment gateway services. However, pricing is not disclosed on either of those services. Additional rates and fees, including gateway fees, technical support fees, batch fees, and additional transaction rates typically apply to these e-commerce services.
Review Your Contract Carefully
In the absence of any concrete information about the Universal Transaction Processing contract or pricing, business owners should be prepared to forcefully negotiate for lower pricing before contacting the company. Businesses are also encouraged to compare UTP’s pricing to the cheapest merchant account providers. If you have any knowledge of the standard Universal Transaction Processing contract, please share that information in the comment section below this review.
We also encourage business owners to check out our list of the providers of the best merchant accounts.
Universal Transaction Processing Employee Reviews & Sales Tacitcs
Should You Work For Them?
|Uses Independent Resellers||Yes|
|Discloses All Important Terms||No|
Outside Sales Team
Universal Transaction Processing appears to utilize telesales and independent sales agents to market its products and services. The use of telemarketing and independent agents is commonly tied to elevated complaint rates due to business’ general distaste for sales calls and the difficulty of managing independent agents. Predictably, we are currently able to locate a number of Universal Transaction Processing complaints that describe higher-than-expected rates, undisclosed fees, and annoying telemarketing calls.
This does not compare favorably to our list of best credit card processors.
No Deceptive Rates
Although the number of complaints is relatively low, their content indicates that the company does generate some negative feedback with its sales approach. To its credit, Universal Transaction Processing does not list any misleading rate quotes or guarantees on its website, but we have lowered its grade slightly due to its complaints. If you suspect that you are being charged hidden Universal Transaction Processing fees, we recommend seeking a third-party statement audit.
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