Processor Directory > Strategic Payment Systems

Strategic Payment Systems Review

Strategic Payment Systems (SPS) is a processing company founded by a small group of people that were also founding members of processor CoCard. SPS offers services through its own website and through independent sales agents. The company’s headquarters are in Massachusetts, but agents’ locations can be anywhere across the US. One of SPS’ agents – Gulf Management Systems – is the creator and preferred processor of RhinoFit gym management software. However, SPS doesn’t just serve fitness businesses. The company offers processing in a variety of industries. Let’s take a look at Strategic Payment Systems’ reviews, rates and fees, and services.

Credit Card Processing

SPS doesn’t have the most informative website, but we’ve done some digging to get as much info as possible to help you make a decision on the right processor for your business. Strategic Payment Systems offers all the usual processing services: you can take credit and debit cards, EBT cards, fleet cards, and checks.

SPS homepage

With SPS, you can accept:

  • Visa
  • Mastercard
  • Discover
  • American Express
  • JCB
  • Diners Club

Note that you may need to get special approval to accept Amex.

You’ll have the flexibility to take cards in whatever method makes the most sense for your business. If you’re a traditional retailer or restaurant, in-person processing with countertop terminals or POS systems will fit the bill. Businesses on the go – delivery services, repair services, traveling salespeople – can benefit from mobile processing using a smartphone or tablet. Online businesses can integrate credit card processing into a website seamlessly and with up-to-date security features to help protect against fraud.

Other Services

In addition to credit and debit card processing, SPS offers check processing, gift card programs, merchant cash advances, and business valuation services through a partnership with BizEquity.

Check Processing

Some customers – especially in B2B environments – still use checks, so being able to accept them can help cut down on delays in payment or client dissatisfaction. Strategic Payment Systems offers Check21 or an electronic check conversion system. Electronic check conversion lets you accept a paper check and convert it to an electronic transaction, speeding up the deposit time and eliminating the need to make a trip to the bank.

Gift Card Programs

Businesses that don’t offer gift cards could be missing out on a great source of revenue. SPS can help you set up a new gift card program, or transfer an existing one. You’ll be able to get started with a basic, low-cost program or design a more robust, custom card system for your business.

Merchant Cash Advances

For short-term financing needs, SPS offers a cash advance program where you can receive a lump sum against your future credit card sales. While it works like a loan in the sense that you need to repay the lump sum, there are no interest rates or set repayment periods. Instead, you’ll pay the lump sum and fees. Payments are made automatically as a deduction of a portion of your credit card sales. Cash advances are often easier to obtain and with less requirements than loans, but can be expensive. Be sure to crunch the numbers to see if a traditional loan makes more sense.

Related Article: Should You Get a Merchant Cash Advance?

Business Valuation

SPS’ partnership with BizEquity gives you access to business valuation services to find out exactly what your business is worth. After you get your initial valuation, you can subscribe to BizEquity’s dashboard to monitor your industry and get insight into what factors will raise and lower your business’ value. You can also use the company’s tools to optimize your business and pursue the most lucrative growth strategies.

Strategic Payment Systems’ Rates and Fees

SPS doesn’t publish rate and fee information on its website, as the exact costs will vary from one business to the next. Additionally, the agent representatives that SPS uses for sales may also have a role in setting pricing or terms.

The company does offer a free statement analysis to provide information about possible savings, but at CardFellow, we suggest not sending statements to a processor until you’ve already received a quote. You can get a free, no-obligation quote to review in private by using CardFellow’s quote request tool. Here’s how it works:

You can request quotes from as many companies as you’d like, and compare them apples to apples. Try it now.

Low Cost Guarantee

SPS offers a “low cost guarantee” that states that if you find a lower price from a competitor, they’ll beat it or give you $100. Some restrictions apply – you’ll need to provide a complete schedule of fees in writing from a competitor or three months’ processing statements and your original contract. SPS will need to see all fees, including setup and other one-time fees, equipment costs, statement fees, and more.

When taking advantage of the low cost guarantee, you’ll need to complete a merchant application with SPS within 10 days. If you don’t complete the application, SPS reserves the right to deny payout of the $100. If SPS can’t beat the price, they will mail a check within 30 days.

Related Article: The Truth Behind “We’ll Beat Your Rates or Give You $500” Offers.

Strategic Payment Systems Reviews

Reviews is another area where information isn’t readily available for SPS. The company doesn’t include testimonials on its website, though it does have one 5-star review on its facebook page. Unfortunately, that review doesn’t offer any text explanation for the rating.

The company doesn’t have a Better Business Bureau profile, a Yelp profile, or any reviews on Ripoff Report or Google Reviews.

Due to this general lack of customer information, it’s more important than ever to hear from clients that have worked with Strategic Payment Systems, either currently or in the past. Is that you? Do us (and your fellow business owners!) a favor by letting us know of your experience, whether it was good or bad. Leave a review!


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Posted by Dawn Green on Jun 13, 2020


Horrible service, lots of hidden fees. There is NO customer service. I mean none. There is nobody to call, and no email responses are returned. One of the worst services ever.

Posted by CardFellow on Apr 25, 2018


SPS created gym management software, so it's particularly suited for fitness businesses, but can serve multiple industries.