Our Mission

Our mission is to be an advocate for small, local businesses by providing payment processing services that are secure, innovative, and fairly-priced without a long-term commitment.

Our Vision

We envision being the premier, most trusted merchant services provider that community banks, credit unions, CPA firms, and trade associations recommend to their clients for payment processing.  We will accomplish this by continuing to prioritize client retention above new client acquisition and promoting a culture that emphasizes our three pillars of success:

  • Do what you say you’re going to do.
  • Treat people well.
  • Own up when you mess up.

About Our Founder

Jaron Rice is a lifelong Marylander who currently resides in Pasadena with his wife Jess, three biological tax deductions, and an English Cream Golden Retriever that sheds white hair on every single horizontal surface in the house.

Jaron sits on the Board of Directors for the Better Business Bureau of Greater Maryland.  He’s also involved with BNI, the Northern Anne Arundel County Chamber of Commerce, and the Pasadena Business Association, the Greater Severna Park & Arnold Chamber of Commerce, and the Greater Crofton Chamber of Commerce.  We also handle the credit card processing for the aforementioned organizations.  As an active member of the community, Jaron is a volunteer and pastor at South Shore Church in Crownsville.

Magothy Payments is a 2019 Torch Award for Ethics winner from the Better Business Bureau of Greater Maryland and the only MDOT Certified Minority Business Enterprise payment processing company in Maryland.

When he’s not working, Jaron is usually chasing tiny humans, glamping in the RV (glamour camping – when you like the outdoors but also like air conditioning and indoor plumbing), or losing at fantasy football.

What Magothy Payments means to the people we serve...

Magothy Payments came as a recommendation from our accountant who realized how much we were paying with our old company. Jaron made the process very easy by reviewing our old statements to see if there was any room for saving. After our consultation, he offered to use Magothy payments for one month and if we didn't see any savings we had the option to walk away without losing anything. Jaron has been upfront from the beginning and has been there promptly to address any concerns we have with our system. I highly recommended Magothy Payments!

Dr. Hetal Rana, Eye Associates

Worldwide Waterproofing changed payment processing companies in 2016 after 14 years of being with the same provider. We had a great initial meeting with Jaron and felt comfortable with his knowledge and expertise. Working with a local company that is easily accessible made sense for us. We hadn't really tracked our credit card costs over the last several years, so we were BLOWN AWAY when we saved more than $2000 in our first month alone. This was the by far the best decision we could have made. We get our deposits next day, the platform is easy to use, and we finally have a relationship with the company funding our transactions. I couldn't recommend Magothy Payments enough.

Summer Hoder, Worldwide Waterproofing

Magothy Payments has been GREAT for our business. We get calls from merchant services vendors every day. But when you need service from THEM, they are nowhere to be found. This never happens with Jaron and his team. Their personalized service is outstanding, and our costs are down too! I highly recommend you consider Magothy Payments for your business.

Bruce Spencer, Walt Eger's Service Center

The team at Magothy Payments is nothing short of SPECTACULAR and I can't recommend them enough! If you are tired of wondering if you are paying too much for your credit card processing and harassing daily calls about saving you money, I can assure you that Magothy Payments is your BEST option. Local, Personal and Professional, their integrity shines through at every service opportunity. The statements are transparent, the rates are the lowest, and they are focused on a long-term relationship that will save you money. Everyone that I have referred comes back to me very satisfied and glad that they made the change.

Andy Byrd, Victory Awards & Promotions


Do you want to find out how we became Maryland's highest-rated merchant services provider? Give us a call!