The Payment Processing Division of JPMorgan Chase
Based out of Dallas, Texas, Chase Merchant Services is one of the largest merchant account providersĀ 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 theĀ back-end processing network for the popular mobile credit card processing appĀ Square.
Chase Merchant Services Location and Leadership
Chase Merchant Service’s headquarters can be found at 14221 Dallas Pkwy, Dallas,Ā TexasĀ 75254. Dan CharronĀ 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
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.
Robert,
You may find this article helpful: How to Make a Payment Processor Release Your Money.
-Phillip