Universal Transaction Processing Review

Universal Transaction Processing Overview

Universal Transaction Processing May Have Overcharged You

If you accepted credit cards through Universal Transaction Processing or any other credit card processing company between 2017 and 2019, recent changes to the law may entitle you to refunds of certain debit card and credit card processing errors and overcharges. See this post to find out if your were among the businesses affected and to learn how you can get your money back.

A UK Processor Backed by Barclays

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 and Global Payments. The company also provides merchants with virtual terminal services.

Universal Transaction Processing Location and Ownership

Michael Ault is the founder and CEO of Universal Transaction Processing, which is headquartered at Sapphire Plaza, Watlington St, Reading RG1 4RE, UK.

Universal Transaction Processing Review Table of Contents

  • Costs & Contract: Universal Transaction Processing appears to offer variable contract terms that may resemble that of Barclaycard Merchant services which potentially include an early termination fee of up to £25,000.
  • Complaints & Service: Universal Transaction Processing has received fewer than 10 public complaints.
  • BBB Rating: Universal Transaction Processing does not have a profile with the Better Business Bureau at this time.
  • Sales & Marketing: Universal Transaction Processing appears to hire independent sales agents and has received some complaints about its sales practices.
  • Rates & Fees: How Merchants Got The Best Rates With Universal Transaction Processing
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Products & Services Offered

Types of Businesses Served

  • Retail
  • Mobile
  • E-commerce

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Universal Transaction Processing Rates, Fees, and Costs

Key Points

Swiped 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 Up to £25,000
Monthly Fee Up To £25
PCI Compliance Fee Undisclosed
Equipment Lease Terms Undisclosed

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 merchant complaints that list specific rates or fees. One 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 include’s 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 merchants receive their statements from Barclays. The company’s 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 the most costly at £25.

The Universal Transaction Processing website states that the company customizes its pricing and terms for each individual merchant, 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 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.

Review Your Contract Carefully

In the absence of any concrete information about the company’s pricing, merchants should be prepared to forcefully negotiate for lower pricing before contacting the company. Merchants 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.

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Response from Universal Transaction Processing

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Universal Transaction Processing Complaints & Customer Reviews

Key Points

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 merchants 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.

Universal Transaction Processing Lawsuits

We have not found any outstanding class-action lawsuits or FTC complaints filed against Universal Transaction Processing. Dissatisfied merchants 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.

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Response from Universal Transaction Processing

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Universal Transaction Processing BBB Rating Summary

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.

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Response from Universal Transaction Processing

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Truth In Marketing & Advertising

Key Points

Employs Independent Resellers Yes
Advertises Deceptive Rates No
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 merchants’ general distaste for sales calls and the difficulty of managing independent agents. Predictably, we are currently able to locate a low number of Universal Transaction Processing complaints that describe higher-than-expected rates, undisclosed fees, and annoying telemarketing calls.

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 Universal Transaction Processing is charging you hidden fees, we recommend seeking a third-party statement audit.

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Response from Universal Transaction Processing

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Universal Transaction Processing Logo

Our Opinion of Universal Transaction Processing

A Solid Option for UK Merchants

Universal Transaction Processing rates as an above-average merchant services provider for UK businesses according to our rating criteria. Merchants should be aware, however, that we do not have specific details regarding its standard contract. We will continue to monitor merchant feedback about the company and adjust our rating as more information comes to light. UK merchants who are interested in alternatives to UTP should consider a top-rated mobile UK credit card processing app.

We rely on your feedback about Universal Transaction Processing to keep this review accurate and up-to-date. Please take a minute to tell us about your experience. We and the small business owners of this world thank you!

Thank you for reading my review. I hope that it has helped you with your research.

Why I'm Qualified to Write About Credit Card Processing and Merchant Account Services

I'm a former credit card processing sales director who left the industry because I didn't like how it takes advantage of small business owners. It feeds like a leech on businesses and thrives by imposing fees that are nearly impossible to comprehend. Seeing a need for change, I left and built this website help business owners better understand the industry, research merchant services providers, and get refunds of excessive merchant account fees. My experience of working "behind the curtain" in the industry, and using that knowledge for good, has resulted in millions of dollars returned to hard-working small business owners as well as enterprise-level companies.

From the time that I starting working in the merchant services industry to when I left to create this website, I've been on the pulse of payments for nearly 15 years. It didn't seem fair to keep this "insider" knowledge to myself. To lift the fog, I've reviewed hundreds of companies, read thousands of user reviews, and learned the pricing tricks of every provider. If you have questions about credit card processing, you can find the answers on this website.

How I Can Help You

I specialize in helping businesses get refunds of excessive fees and have recovered $1,567,184 this year alone! Submit a recent statement below to find out if you are getting overcharged. I'll take a look at it for free. If I find fees that can be refunded, hire me on contigency. I only get compensated if I put money back into your pocket.

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4 Reviews Leave Your Review for Universal Transaction Processing Below

  1. Colin Doherty says:

    I got a cold call from these guys today. Typical scripted lines designed to catch you so they can then manipulate the information you give toward their biased and dubious sales practice. When I called the guy out for what he was doing he then started talking over me and behaving like a petulant child. Even after the call ended he then rang again and started laughing down the phone. AVOID!


    This post will help: How to Report Bad Credit Card Processors

    -Phillip

  2. UTP is the worst company I have ever had dealings with in 20 years of business.
    The quality of customer services is absolutely diabolical, we have had 4 years of hell with this company and still having problems and not once as any of the problem been any cause of ours.
    The day we signed up with them was the biggest mistake, they sent us the incorrect machines we had to send those back and wait for correct ones then the rep said he would be here to set them up for us but never saw him again.
    Time after time the machines would not work or connect so we would spend hrs on the phone going through different questions trying to sort them out we would have whole weekends without any machines working.
    Then we found out they were charging us for 7 machines and we only ever had 4 so had to wait for a credit. In the end it got so bad we went and got 4 new contract with another company so we could run our business and still pay for the utp ones even tho we weren’t using them
    After about 12 months of not using them we phone utp for a settlement figure to get rid of 2 machines we paid the settlement do that left us with 2 of their machines which was not being used.
    A few months later we phone to get the settlement figure on the remaining 2 machines only to be told we are out of contract and if we wanted to cancel just send a email saying that which we did.
    We thought great this nightmare was finally over, they were collecting the machines on the 1st of December they were never collected then weeks later we start receiving invoices for money what we owed I phone up again go through the story again only to be told to ignore the invoice their mistake, weeks later more invoices I phone again only to get a apology saying ignore the invoice you owe us nothing and all contracts are dead.
    We ask for a email to confirm this it never came and April 2019 they are asking for money and saying the 2 contracts are still live.


    This post will help: Cancelling a Merchant Account Without Paying a Fee

    -Phillip

  3. K sahni says:

    Absolutely rubbish service with illiterate staff.
    not aware of any issues call again and again for same issue for 45 days still no resolution.

  4. Ian Turner says:

    I have just received a contract from UTP the rates are reasonable but the contract is for 48 months, the agreement has been written in lawyer speak but from what I can make out there is a maximum termination charge of £25000. I questioned the length of the agreement and never heard back from them

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