Chase Payment Solutions and Fattmerchant often fall within the top five when it comes to popular card processors. Let’s take a closer look at both.
Chase Payment Solutions is a simple and reliable card processor. It has a solution for just about any payment need: in-store, online or on-the-go.
Fattmerchant is another simple card processor that covers card-present and mobile payments, as well as eCommerce.
*See how Chase Payment Solutions compares to Square, another popular card processor, here.
| CARD PROCESSOR | Chase Payment Solutions | FATTMERCHANT |
| Type of Provider | Direct processor | Third-party processor |
| Type of Processing Fees | Tiered or interchange-plus | Subscription-based interchange-plus |
| Contract & ETF | Month-to-month, no ETF | Month-to-month, no ETF |
Direct vs. Third-Party Processors
Chase Payment Solutions is a full-service direct processor while Fattmerchant is a third-party processor. What’s the difference?
Direct processors will manage your merchant account and process your transactions. If any problem arises, like account freezes or chargebacks, you’ll only have to contend with one company.
Third-party processors don’t require you to have a merchant account in your own name. Instead, the processor opens a sub-account for you under its existing merchant account.
For the most part, third-party processors offer inferior service. Because there’s a higher risk of fraud, they exercise increased levels of caution when it comes to suspicious transaction activity. Unfortunately, that translates into more account holds.
But Fattmerchant, isn’t your average third-party processor. It outlines clear risk management guidelines on its website. That, coupled with exceptional customer service, make up for its processing disadvantages.
Bottom Line
Chase Payment Solutions and Fattmerchant are both going to be good choices for most business owners. Chase is a bigger global entity with reliable service. It’s especially more convenient if you already bank with Chase. Fattmerchant is popular with those concerned only with the lowest fees, and they’ve gained a good reputation.
Compare all the best credit card processors here.
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