card-payment-options-logo
card-payment-options-logo

Chase Merchant Services Review

Phillip Parker

I'm the creator of this website and a professional merchant account rate and fee negotiator. I help businesses drastically lower their processing costs with existing or new merchant account services. I've also appeared in popular publications such as INC Magazine, The Atlantic, The Los Angeles Times, Detroit Free Press, Computer World Magazine, and several others. Contact me if you need advice with your credit card processing.

Schedule a call with me today. I don’t sell merchant accounts but I can help you:

  • Choose the right processor for your business.
  • Lower your fees with your current processor.
  • Offer guidance with funding holds and TMF Match List.
  • And more! Just ask!

Chase Merchant Services Overview

Rating

4.3/5
Chase Merchant Services Logo

Connect

Website
(800) 708-3740

Most Recent Comment

  • ROBERT HUPP:

    "Warning! If you accept payments in excess of 1k Merchant services will flag it, you will NOT be informed, and they will review it for 5..." Read More

    Reply Leave Your Own Comment

Rating

4.3/5
Chase Merchant Services Logo

Connect

Website
(800) 708-3740

Most Recent Comment

  • ROBERT HUPP:

    "Warning! If you accept payments in excess of 1k Merchant services will flag it, you will NOT be informed, and they will review it for 5..." Read More

    Reply Leave Your Own Comment

*Earning your trust is our highest priority. We live by the same values we expect to see from the companies we review: Honesty, transparency and respect. With this in mind we wish to inform you that we may in some cases, but not all, receive referral income if you choose a provider that we recommend. This income does not influence our strict editorial standards or our recommendations. Our mission is to provide you with the best information regardless of generating income.

The Payment Processing Division of JPMorgan Chase

Based out of Dallas, Texas, Chase Merchant Services is one of the largest merchant account providers in the United States. Although it has operated under different business names due to various acquisitions and joint ventures, Chase Merchant Services has been in existence since 1985.

Chase Merchant Services History

Previously known as “Chase Paymentech” since its acquisition of Paymentech in 2000, the company rebranded its global ISO operations as “Chase Commerce Solutions” in late 2015. In January 2016, First American Payment Systems acquired all of Chase Commerce Solutions’s operations. Today, Chase’s merchant services products are marketed as the Chase Merchant Services branch of JPMorgan Chase & Co., but the Chase Paymentech brand is still found on some of the company’s products.

Chase acquired WePay in October 2017, which could signal that the company plans to focus on building e-commerce platforms going forward. The company has also achieved some recognition as the back-end processing network for the popular mobile credit card processing app Square.

Chase Merchant Services Location and Leadership

Chase Merchant Service’s headquarters can be found at 14221 Dallas Pkwy, Dallas, Texas 75254. Dan Charron is the CEO of JPMorgan Chase & Co.

Chase Merchant Services Review Table of Contents

  • Costs & Contract: Chase Merchant Services offers variable contract terms that depend on the merchant’s size, business type, and processing history.
  • Complaints & Service: Chase Merchant Services has received more than 60 public complaints.
  • BBB Rating: Chase Merchant Services (as Chase Paymentech) currently does not have a rating with the Better Business Bureau and has received 41 complaints and 10 reviews n the last 3 years.
  • Sales & Marketing: Chase Merchant Services does not hire independent sales agents and has received a low number of complaints about its sales practices.
  • Rates & Fees: How Merchants Got The Best Rates With Chase Merchant Services

Highest Rated & Lowest Cost Processors

Fattmerchant Logo
See Our Review
VIsit Their Website
Payline Logo New
See Our Review
Visit Their Website

Chase Merchant Services Rates, Fees, and Costs

Chase Merchant Services Rates, Fees, and Costs

Key Points

Debit Swiped Rate 1.99% + $0.15
Credit Swiped Rate 2.99% + $0.15
Flat Keyed-In Rate 2.90% + $0.25
Gateway Fee Undisclosed
Virtual Terminal Rate Undisclosed
Early Termination Fee None
PCI Compliance Fee None
Equipment Lease Terms 24 Month (locked)

Variable Contract Terms

Chase Merchant Services merchant accounts provide 3 different rates. Debit transactions are charged a swipe rate of 1.99% plus $0.15. Credit transactions are assessed a swipe rate of 2.99% plus $0.15. A flat rate for both credit and debit transactions that are keyed-in is charged at 2.90% plus $0.25. In most cases where Chase Merchant Services sets up the account directly, the company offers month-to-month contracts, no cancellation fees and no PCI compliance fees.

Merchants who accept a “free terminal” may be subject to a 24-month service agreement, which is a common practice when a provider gives away equipment. The cancellation fees under the 24-month agreement may vary based on the type of equipment, so merchants are strongly encouraged to read their contracts before signing any documents.

Virtual Terminal and Payment Gateway Pricing

In addition to its storefront payment processing services, Chase Merchant Services also dedicates a portion of its website that advertises its virtual terminal and payment gateway services. However, pricing on either of those services is not disclosed though it appears that the company’s 2.90% plus $0.25 flat keyed-in rate applies to online transactions. Additional rates and fees, including gateway fees, technical support fees, batch fees, and additional transaction rates typically apply to these e-commerce services.

Few Contract Complaints

There are very few complaints about Chase’s pricing and terms considering its size. In fact, the company’s fee structure has the potential to compete with even the cheapest merchant accounts. To learn everything about rates and fees, and how to get the lowest pricing the credit card processing industry offers, check out Fee Sweep.

Highest Rated E-Commerce Processors

host merchant services logo
See Our Review
VIsit Their Website
Fattmerchant Logo
See Our Review
Visit Their Website

Chase Merchant Services BBB Rating Summary

Chase Merchant Services BBB Rating Summary

Key Points

Product & Service Complaints 28
Billing & Collection Complaints 13
Advertising & Sales Complaints 0
Guarantee & Warranty Complaints 0
Delivery Complaints 0

Note: We have adjusted this company’s BBB rating according to our own standards. To better understand why we adjust BBB ratings, please see our Rating Criteria.

Nearly 40 Complaints

As of this update, the Better Business Bureau continues to refer to Chase Merchant Services as Chase Paymentech and is not showing accreditation for the company. The company has a “B” with the BBB at this time. Despite this, its profile is showing 39 complaints filed in the last 36 months. Of the 41 total complaints, 28 are regarding problems with products and services, and 13 regarding billing and collection. 13 complaints were successfully resolved by Chase Merchant Services, and 28 complaints either were resolved to the dissatisfaction of the merchant or did not receive a final response from the merchant.

What Merchants Say

Chase Merchant Services has also received 17 informal reviews to its BBB profile, 2 of which are positive in tone and 15 of which are negative in tone. The most recent review describes poor customer support:

Regretfully I read the reviews too late. We too have been a long standing customer for over 30 years. We implemented an e-commerce system and had fraudulent transactions. I do agree with the other reviews. No customer support at all. We lost the money and chase never helped us with any of these fraud reports. They don’t care about their customers at all. We were told they closed our merchant account due to the high volume of fraudulent reports and we have to find another provider. After working with this company for so long, just disgusted how they treated a long standing customer. We are now looking for other companies as we will not ever go back.

This merchant’s complaints about Chase Merchant Services chargeback policy and account holds convey the importance of finding a merchant account provider who is best suited for your type of business. Merchants in similar situations should research how to fight chargebacks and resolve funds holds.

A “B” Performance

 

In light of the company’s complaint rate and resolution ratio, we agree with the BBB’s rating of a “B.”

Highest Rated Online Store Creators

shopify logo
See Our Review
VIsit Their Website
Selz Logo
See Our Review
Visit Their Website

Truth In Marketing & Advertising

Truth In Marketing & Advertising

Key Points

Employs Independent Resellers Yes
Advertises Deceptive Rates No
Discloses All Important Terms No

In-House Agents and Resellers

This reviewer found no uses of deceptive advertising or rate quoting by Chase Merchant Services. The company appears to primarily market its services through partnered sub-ISOs and telemarketing. Interestingly, Chase Merchant Services does not appear to recruit independent outside agents directly but, instead, forwards applicants to the sub-ISOs who hire independent agents.

Few Sales Complaints

The use of independent agents often results in numerous merchant complaints due to a lack of direct control over their marketing and sales tactics. Since Chase Merchant Services does not hire its agents directly, it is not suffering the usual complaints that are associated with the practice. It is entirely possible that the sub-ISOs that hire these agents have the typical complaints, but there is no indication of Chase Merchant Services itself being the source of any misleading marketing or tactics. In addition, the complaints that do exist are low in number and inconsistent in their content. If you suspect that a Chase Merchant Services representative has added undisclosed fees to your contract, we recommend seeking a third-party statement audit to find and eliminate hidden charges.

Sales & Marketing Example

Our Opinion Of Chase Merchant Services

Chase Merchant Services Logo

A Solid Option for Large Businesses

Overall, Chase Merchant Services scores much better than most processors of its size. Merchants are encouraged to make sure they understand all of the terms of their merchant account contract because most of the company’s complaints can be traced to this problem. Chase Merchant Services can improve its rating in this review by eliminating cancellation fees with all of its account types and responding to complaints through the BBB. For now, the company is a better option for large, established merchants than for brand-new merchants.

Phillip Parker - Creator of CardPaymentOptions.com
Facebook
Twitter
Linkedin
Instagram

Why I'm Qualified to Write About Credit Card Processing

I’m a small business owner who previously worked in the credit card processing industry. I started this blog in 2009 to help other business owners by exposing credit card processors that engage in unethical marketing, rate and fee trickery, and fine-print-contract schemes. Over the last decade, I’ve reviewed hundreds of merchant services providers which has helped to educate over 5 million businesses on the nuances of credit and debit card acceptance. I’ve appeared in the New York Times, Los Angeles Times, Inc. Magazine and a host of other publications to offer insight on the subject of card acceptance. 

I offer merchant account and credit card processing consultation for the following needs:

  • Selecting the right credit card processing services for your business.
  • Reducing credit card processing fees with your current merchant account provider.
  • Negotiating credit card processing fees when changing merchant accounts.
  • Strategies for reducing and recovering funding holds and chargebacks.

 

Schedule a call with me today!

 

Get Your Processing Fees Refunded

In this article we explore a little known tactic for recovering excessive merchant account fees. Did you know that... Read more.
View Article
Checklist

How to Report Bad Credit Card Processors

July 28, 2020 22 Comments

Before you jump straight to reporting a merchant account provider, be sure you have exhausted all of your options with the company itself. Take notes and record the names of with whom you spoke, their titles and what they told you. This is important because most agencies will not get involved unless you have made a good faith effort to settle the disagreement directly.

Read More »

Best Providers for Web Developers

July 21, 2020 No Comments

Are you looking for a simple payment processing solution for your clients? This list of the best payment tools for web developers includes online providers that offer basic APIs as well as full-service providers with broad integration options… Learn more in this list of the best payment processors for web developers.

Read More »
Accounting on a computer

Top Processors for QuickBooks

July 21, 2020 7 Comments

Do you need a merchant account provider that integrates with QuickBooks? We have compiled the following list of top merchant services providers that offer QuickBooks integration. Most of these credit card processors have highly rated customer service and low pricing, and all of them allow you to export data to QuickBooks either directly or indirectly… Learn more in this list of best merchant account providers for QuickBooks integration.

Read More »
Credit card payment

Best All-Purpose Merchant Accounts (U.S.)

May 7, 2020 3 Comments

This list of the best merchant accounts in the United States will help you choose the right credit card processor for your small business. These merchant services companies serve all general business types and are known to offer transparent pricing and quality customer service… Learn more in this list of the top U.S. merchant accounts.

Read More »
High Risk image

Best High Risk Merchant Accounts

December 30, 2019 2 Comments

If your business requires a high risk merchant account, then this list of the best merchant accounts for high risk will help you find the best high risk credit card processor for you… Learn more in this list of best high risk merchant accounts.

Read More »
Insurance image

How to Fight Chargebacks and Win

September 10, 2018 13 Comments

Find out how to successfully dispute customer chargebacks. You can contest chargebacks by supplying evidence that counters the customer’s chargeback claim and then submitting the following evidence to your merchant account provider. Learn more about how to fight chargebacks in this article.

Read More »
High Risk image

How to Get Out of a Merchant Account Contract

July 20, 2018 13 Comments

Cancelling a merchant account contract without paying an Early Termination Fee (ETF) can be one of the most difficult problems a small business owner can face. In fact, most business owners who encounter this issue are often caught by complete surprise because the cancellation fee was never revealed during the account setup process. Learn more about how to cancel a merchant account in this article

Read More »
Scam

Worst Merchant Accounts

July 5, 2018 26 Comments

This list of the worst merchant account providers will help you avoid merchant account scams and credit card processing ripoffs… Learn more in this bad merchant accounts article.

Read More »

Leave Your Review For Chase Merchant Services

2 Responses

  1. Warning!

    If you accept payments in excess of 1k Merchant services will flag it, you will NOT be informed, and they will review it for 5-7 business days before they release it. I use a different merchant service for my other business and have no problems with this, but Chase in a whole other animal. Customer service will not help you. It will take a year for them to “review” your deposits and maybe raise your average deposit, in the meantime collecting mad interest on YOUR operating capitol. Which means for that entire year anything over 1k will be held until they are done fingering your money. Bad business. After this deposit is done I am cancelling this account.

    Reply

Leave a Reply

Your email address will not be published. Required fields are marked *

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Or, you can subscribe without commenting.

  • Readers Choice of 2020

    Fattmerchant
    Why Fattmerchant
    Fattmerchant has passed our review with flying colors due to a highly-reviewed support, and rock-bottom fees, a month-to-month service agreement, no cancellation fees, no hidden fees, and having wide variety of processing solutions. See our full Fattmerchant review. You can also visit Fattmerchant’s website, or call (866) 397-9826 for all the details on their services.

    Getting Declined?
    Are you getting declined because of your business type or credit history? Check out PaymentCloud for hard-to-approve merchant accounts, or call  (888) 506-7859.

    • We'd love to hear your thoughts on Chase Merchant Services

    Post a Comment Now
    Copyright

    Copyright © CardPaymentOptions.com, Inc. (Digital Fingerprint: 0d38c6720f0d78a701b74d58653af608). Getting paid to re-write this page? Click here to earn a reward.

    Any unauthorized copying and reproduction of the content of this page, including all meta data and computer code, is strictly prohibited. While the information in the above article is believed to be accurate as of its publish date, the author and publisher make no representation or warranties with respect to the accuracy, applicability, fitness, or completeness of the contents. The author and publisher shall in no event be held liable to any party for any direct, indirect, punitive, special, incidental or other consequential damages arising directly or indirectly from any use of this material, which is provided “as is,” and without warranties. Any and all use of trade names and/or marks are for identification purposes only and shall not be construed as a claim of affiliation, or otherwise, with CardPaymentOptions.com, Inc. ("CPO") in any form. The sole purpose of the material presented herein is to alert, educate, and inform readers. It is not intended as legal or financial advice. We may earn revenue if you obtain services from a provider that we recommend. See this page to learn how we support our operations.

    O% Markup + $0.08
    Per Transaction
    The highest rated processor on CPO. Month-to-month, no contract, no PCI Compliance fees, no batch fees, no statement fees, no downgrade fees, no junk fees of any kind.
    See Who It Is
    Facebook
    Instagram
    Twitter
    Linkedin
    © Copyright 2009 - 2020 CardPaymentOptions.com, Inc. All Rights Reserved.