Universal Transaction Processing Review

Rates and Fees
95/100
Truth in Advertising
95/100
Consumer Reviews
95/100
Customer Support
95/100
5

Best for

Merchants and retailers of all sizes that are located in the UK.

Specializes in

Universal Transaction Processing specializes in working with retailers of all sizes. The company is based in the UK and relies on Barclay as its backend credit card processor. This is unlike most other merchant account providers in the UK.

Pricing Summary

Setup Fee: N/A

Monthly Fee: Up To £25

Swipe Rate: 1.00% - 4.99%

Keyed-in Rate: 1.00% - 4.99%

Early Termination Fee : Up to £25,000

Contract Terms:

Unknown
Visit Universal Transaction Processing

Universal Transaction Processing was founded in 2013 and Michael Ault is the founder and CEO of the company, which is headquartered in the UK.

The company is a merchant account provider that also offers virtual terminals.

Universal Transaction Processing states on their website that they aim to streamline services for merchants to allow for faster access to their funds and fewer chargebacks.

Universal Transaction Processing Overview

 

Universal Transaction Processing was founded in 2013 by Michael Ault, who had decades of experience in the industry. The company’s goal is to streamline as much of the payment processing process as possible.

The company takes staff training very seriously and ensures that they are not only well-versed in the products Universal Transaction Processing offers, but that they also have an excellent understanding of how the marketplace and industry work.

Universal Transaction Processing offers many payment solutions, including credit and debit card machines, virtual terminals and ecommerce payment gateways.

Quick Facts

Head Quarters

Sapphire Plaza, Watlington St, Reading RG1 4RE, UK.

Year Founded

2013

CEO

Michael Ault

Employees

Unknown

Merchant Provider Risk Tolerance

Low Risk Businesses

What We Like

Applications are processed quickly, within 48 hours.

Transparent pricing.

Simple and streamlined start-up process.

Good customer service.

Competitive rates for merchants.

What We Don't Like

Not a good fit for high risk businesses.

Charge an early termination fee.

Long contract terms.

Uses telemarketers to sell products.

Industries Served

  • Online Sellers

Business Types Served

  • Mobile
  • Online

Universal Transaction Processing Products & Services

 

Hardware & Software

Universal Transaction Processing offers many different types of credit card machines, which are all supplied with the latest in technology and security. They offer multiple solutions to fit virtually any business model, including:

Countertop card machines
Portable card machines
Mobile card machines

Universal Transaction Processing also provides online payment gateways and virtual terminals for merchants in need of them.

Value Added Services

Most of Universal Transaction Processing’s focus is on payment processing. However, they do offer cash advance services for merchants who are in need of additional cash flow into their businesses.

Merchants can use cash advances to cover the cost of payroll, equipment or anything else their businesses may need. With flexible merchant funding, Universal Transaction Processing can provide unsecured funding to merchants who currently accept credit card payments.

Supported Payment Types & Services

Universal Transaction Processing offers payment processing for Visa, Mastercard and American Express. The company does not mention the ability to process payments for Discover on its website. It also does not indicate that it currently accepts electronic checks.

Universal Transaction Processing Payment Processing

  • Cash Transactions
  • Mobile Commerce
  • Online Payments

Universal Transaction Processing Billing & Invoicing

  • Mobile Payments
  • Online Invoicing
  • Online Payments

Universal Transaction Processing Advertising & Sales

 
Online reviews indicate that Universal Transaction Processing works with independent sales contractors to form its sales force. However, this is not completely clear because the company does list a dedicated phone number for its sales team on its website.

It is possible that the company also utilizes telesales and independent sales agents to market its products and services as well. This is very common in the payment processing industry.

Truth in Marketing

Discloses All Important Terms

No

Public Pricing Available

Unknown

Universal Transaction Processing Pricing, Rates & Fees

 

Universal Transaction Processing is much more transparent about its pricing and fees than other merchant account providers. They have a dedicated web page that includes a pricing calculator and an online application form.

The costs they list include:

Swiped rate - 1% - 4.99%
Keyed-in rate - 1% - 4.99%
Virtual terminal rate - 1% - 4.99%
Early termination fee - up to £25,000
Monthly fee - up to £25

Pricing at a Glance

Pricing Model

Unknown

Swiped Rate

1.00% - 4.99%

Keyed-in Rate

1.00% - 4.99%

Mobile Payment Rate

Unknown

Virtual Terminal Rate

1.00% - 4.99%

Monthly Fee

Up To £25

Payment Gateway Fee

Undisclosed

Batch Fee

Unknown

Early Termination Fee

Up to £25,000

PCI Compliance Fee

Undisclosed

Equipment Lease Terms

Up to £25,000

Address Verification Service (AVS)

Unknown

Application Fee

N/A

Account Setup Fee

N/A

Gateway Setup Fee

N/A

Annual Fee

N/A

Monthly Minimum

Unknown

Statement Fee

N/A

Universal Transaction Processing Contract & Terms

There is very little information on the Universal Transaction Processing website that discusses contracts and terms. Some customer reviews appear to indicate that the company offers a 48-month contract with hefty early termination fees. This could indicate that the company also includes a liquidated damages clause in its contracts.

Contract Length

Unknown

Early Termination Fee

Up to £25,000

Universal Transaction Processing Setup & Support

 

Universal Transaction Processing states that getting set up is a very simple, streamlined process.

Merchants use a link to access the UTP pricing calculator and online application form. Once the application form is filled out, they will receive an electronic application to sign in their email.

The application is processed within 48 hours, with all credit checks and underwriting completed during that timeframe. Approval should happen within the 48-hour window and Universal Transaction Processing will send out all equipment.

Universal Transaction Processing clearly lists phone numbers for their sales and support team on their website. They also have a contact form, email address and information for international offices on their website.

Setup Highlights

  • Documentation / Knowledge Base

Support Highlights

  • Domestic Phone Support (Business Hours)
  • Email Support

Universal Transaction Processing Complaints, Ratings & Reviews

BBB Rating

Universal Transaction Processing is not affiliated with the Better Business Bureau so they currently do not have a rating. This could be because the company is located in the UK and not in the United States.

Other Online Reviews

There are many other helpful, positive reviews for Universal Transaction Processing posted online. Most reviews are 5 stars and include information about helpful customer service, quick and easy setup with credit card terminals, efficient and fast equipment, and excellent rates for merchants.

There are some poor reviews online that mention poor customer service, contract discrepancies, push sales representatives and larger than normal early termination fees.

Universal Transaction Processing does not list any deceptive misleading rate quotes on its website to try and attract business. But they do use telemarketers to get merchants’ business. Also, many merchants do not want to enter into such long contracts with their payment processing companies.

Ratings

BBB

N/A

Google

N/A

Facebook

No Reviews

Yelp

N/A

Reviews

Total Online Reviews

Unknown

Total Online Complaints

Lawsuits

Unknown

Universal Transaction Processing Alternatives

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