Chase Payment Solutions and Fattmerchant are some of the most favorable when it comes to a card processor. To find out what makes either of them so well desired by businesses, continue reading this review below.
Chase Payment Solutions is a subsidiary of JP Morgan Chase, and they offer various cards that are reliable for all sorts of businesses. As for being a card processor, no matter what kind of business you have, independent retail shops to larger corporations, they can help you succeed!
Fattmerchant is a newer credit card processor. They have a 0% markup which eliminates the percentage markup over interchange. You pay a single monthly subscription fee to compensate for the markup.
Chase Payment Solutions vs. Fattmerchant Quick Facts
| Card Processor: | Chase Payment Solutions | Fattmerchant |
| Type Of Provider: | Direct processor | Third-party processor |
| Type Of Processing Fees: | Tiered or interchange-plus | Interchange-plus |
| Contract & ETF: | Month-to-month, no ETF | Month-to-month, no ETF |
| PROMOTIONAL LINK | LOAN DETAILS | REVIEW |
| Intuit Quickbooks Payments Best for QuickBooks users. | In-Person Payments: 2.40% & 25 cents per transaction Online Invoices: 2.90% + 25 cents per transaction | Review |
| Square Best low-fee mobile card processor. | In-Person Payments: 2.75% per transaction Online Invoices: 2.9% + 30 cents per transaction | Review |
Products and Services
Down below is a list of services that each of these credit card processor provide. Consider all of these features and see if either Chase Payment Solutions or Fattmerchant works best for you.
| Chase Payment Solutions | Fattmerchant |
| Merchant accounts | Payment processing |
| Credit card terminals | Subscription pricing |
| Payment getaway | Card readers |
| Virtual terminal | Virtual terminal |
| Mobile processing | Mobile processing |
| International payments | EMV Terminal |
| Line of credit | Advanced customization |
| Business credit cards | eCommerce fraud prevention |
Other Factors to Consider
What are the differences between a direct and third party card processor and what should we keep in mind before choosing to do business with any credit card processing company in general?
Below is a chart detailing these pros and cons.
Direct Card Processor
Direct card processors manage a merchant account while also processing transactions. They are processing from only one company.
Third Party Card Processor
Third party card processors can open a sub-account for you right under a preceding merchant account. Since it’s a third party service, the risk of fraud is high.
The Breakdown
It is best recommended to use a direct processor like Chase Payment Solutions if your business has high transaction volume so that you won’t run the risk of fraud.
If anything happens to your merchant account, you can just take it up with Chase.
Businesses who use third party processors like Fattmerchant tend to have a lower transaction volume.
If you have a high transaction volume and use a third party card processor, you could be subjected to suspicious transaction activity.
Consider both pros and cons of a direct processor vs third-party processor before investing fully in one.
Below is how each card processor calculates their rates per transaction.
| Card Processor | Chase Payment Solutions | Fattmerchant |
| Swiped Transactions (per transaction) |
2.6% + $0.10 | Interchange + fee |
| Online Transactions (per transaction) |
2.9% + $0.25 | Interchange + fee |
As you can see, their processing rates are pretty similar for online transactions versus transactions made directly through a credit card processing machine.
Normally, the contract that a service provider gives is about three years. These terms often include automatic renewal and early termination fees (ETF).
However, now more providers are offering month-to-month agreement with no ETF.
Chase Payment Solutions and Fattmerchant both happen to be utilizing this method now.
Bottom Line
After knowing the differences between a direct and a third party card processor, Chase Payment Solutions and Fattmerchant are definitely some unique ones that offer different but exclusive services.
For businesses that have a high transaction volume and are worried about their merchant accounts freezing, then a brand name, trustworthy card processor such as Chase Payment Solutions would reduce these issues the best.
If you prefer to have more flexibility and want to take the risk of using a third party card processor, then perhaps Fattmerchant can be of service. They have a wider range of options to offer since they utilize subscription based pricing.
If you are interested in finding out more information about card processing services, then check out our Best Credit Card Processing Services to learn about all kinds of different card processors!
