Chase Merchant Services Review

Chase Merchant Services Overview

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. Jamie Dimon 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 100  public complaints.
  • BBB Rating: Chase Merchant Services (as Chase Paymentech) has a “B-” rating with the Better Business Bureau and has received 37 complaints and 18 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
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Products & Services Offered

Types of Businesses Served

  • Most business types of any size, including retail, mobile, e-commerce, international, and non-profit

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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.

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Response from Chase Merchant Services

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Chase Merchant Services Complaints & Customer Reviews

Key Points

Total Online Complaints 100+
Live Customer Support Yes
Most Common Complaint Hidden Contract Terms

Low Complaint Total

For a company of its size and time in business, Chase Merchant Services has a low number of complaints filed online in the usual forums. The common themes among the approximately 100 negative Chase Merchant Services reviews are merchants reporting non-disclosure of a service length agreement and cancellation fee, fund holds, unexpected PCI Compliance fees (these appear to be charged by sub-ISOs and not Chase Merchant Services), poor customer service, and difficulty resolving chargebacks.

Chase Merchant Services Lawsuits

We have not found any outstanding class-action lawsuits or FTC complaints filed against Chase Merchant Services. Dissatisfied merchants who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations.

Chase Merchant Services Customer Support Options

Complaint continue to appear beneath our Chase Paymentech review at a slow but regular pace. However, these complaints cover a wide range of issues and do not suggest that a specific problem has emerged at Chase. With Chase’s huge size, the limited number of complaints seems to indicate that most of its reviews are isolated incidents and not a sign of widespread issues. Chase Merchant Services offers 24/7 phone support to all of its merchants, which is the bare minimum we expect from top-rated merchant accounts for great customer service.

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Response from Chase Merchant Services

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Chase Merchant Services BBB Rating Summary

Key Points - BBB

Product & Service Complaints 27
Billing & Collection Complaints 10
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 37 complaints filed in the last 36 months. Of the 37 total complaints, 287are regarding problems with products and services and 10 have to do with billing and collection. Only 2 complaints were successfully resolved by Chase Merchant Services while 6 were unresolved. 28 other complaints were answered by the company but did not receive a final response from the merchant. The 1 remaining complaint was unanswered by Chase Merchant Services altogether.

What Merchants Say

Chase Merchant Services has also received 18 informal reviews to its BBB profile, just 2 of which are positive in tone and 16 of which are negative in tone. The most recent review describes poor customer support:

I am a long time paymentech customer. I looked over my statements and realized I was being way overcharged so I decided to leave. The problem is Jeff the supervisor at the Risk Department told me that if I left chase might have the right to close my account at any time. Instead of providing me anything in writing they said they would provide a “notation” that I was leaving. So I’m risking my businesses credit and my business account just by moving processors! I told them when the funds are diverted my chargeback ratio would jump up super high. They didn’t care. Chase Paymentech does not care about their reputation or their customers. Another greedy bank who just wants your money

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 “C” Performance

Considering the company’s poor complaint to resolution ratio, failure to address all of its complaints, negative review total, and lack of a rating with the BBB, we have given it a “C” at this time.

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Response from Chase Merchant Services

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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.

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Response from Chase Merchant Services

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Chase Merchant Services Logo

Our Opinion of Chase Merchant Services

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.

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Thank you for reading my review. I hope that it has helped you with your research.

Why I'm Qualified to Write About Credit Card Processing and Merchant Account Services

I'm a former credit card processing sales director who left the industry because I didn't like how it takes advantage of small business owners. It feeds like a leech on businesses and thrives by imposing fees that are nearly impossible to comprehend. Seeing a need for change, I left and built this website help business owners better understand the industry, research merchant services providers, and get refunds of excessive merchant account fees. My experience of working "behind the curtain" in the industry, and using that knowledge for good, has resulted in millions of dollars returned to hard-working small business owners as well as enterprise-level companies.

From the time that I starting working in the merchant services industry to when I left to create this website, I've been on the pulse of payments for nearly 15 years. It didn't seem fair to keep this "insider" knowledge to myself. To lift the fog, I've reviewed hundreds of companies, read thousands of user reviews, and learned the pricing tricks of every provider. If you have questions about credit card processing, you can find the answers on this website.

How I Can Help You

I specialize in helping businesses get refunds of excessive fees and have recovered $1,567,184 this year alone! Submit a recent statement below to find out if you are getting overcharged. I'll take a look at it for free. If I find fees that can be refunded, hire me on contigency. I only get compensated if I put money back into your pocket.

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2 Reviews Leave Your Review for Chase Merchant Services Below

  1. ROBERT HUPP says:


    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.

    1. Brian Clark says:


      You may find this article helpful: How to Make a Payment Processor Release Your Money.


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