Chase Paymentech Review

Overview

Based out of Dallas, Texas, Chase Paymentech (chasepaymentech.com) 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 Paymentech has been in existence since 1985. Chase Paymentech rebranded its global ISO operations as “Chase Commerce Solutions” in late 2015, but First American Payment Systems acquired all of Chase Commerce Solutions’s operations in January 2016. Today, Chase’s merchant services products are marketed as a branch of JPMorgan Chase, but the Chase Paymentech brand is still found on the products themselves. Chase also acquired WePay in October 2017, which could signal the next direction for the company.

Chase Paymentech has achieved some recognition as the back-end processing network for the popular mobile credit card processing app Square. The company’s headquarters can be found at 14221 Dallas Pkwy, Dallas, Texas 75254. Chase Paymentech is part of a larger platform called Chase Merchant Services, which is overseen by CEO Matt Kane.

Key Points

  • Sales & Marketing: Chase Paymentech hires independent sales agents and has received a low number of complaints about its sales practices.
  • Costs & Contract: Chase Paymentech offers variable contract terms that may or may not include an early termination fee.
  • Complaints & Service: Chase Paymentech has received more than 50 public complaints.
  • BBB Rating: Chase Paymentech has a “D-” rating with the Better Business Bureau and has received 36 complaints in the past three years.
  • Rates & Fees: How Merchants Got The Best Rates With Chase Paymentech

Chase Paymentech Products and Services

Industries

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

Response from Chase Paymentech

Are you with Chase Paymentech? Add your own voice here!

a

Sales & Marketing

Key Points - Sales & Marketing

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

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

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 Paymentech 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 Paymentech 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.

Response from Chase Paymentech

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Chase Paymentech Marketing Example

a

Costs & Contract

Key Points - Costs & Contract

Swiped Rate Variable
Keyed-in Rate Variable
Early Termination Fee None
PCI Compliance Fee None
Equipment Lease Terms 24 Months, Non-Cancellable

Pricing and contract terms of Paymentech merchant accounts may vary based on several factors including a merchant’s processing needs, sales volume, and the agent or sub-ISO setting up the account. In most cases where Paymentech 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.

To learn everything about rates and fees, and how to get the lowest pricing the credit card processing industry offers, check out Fee Sweep.

Response from Chase Paymentech

Are you with Chase Paymentech? Add your own voice here!

b

Complaints & Service

Key Points - Complaints & Service

Total Online Complaints 50+
Live Customer Support Yes
Most Common Complaint Hidden Terms

For a company of its size and time in business, Paymentech has a low number of complaints filed online in the usual forums. The common themes among the few Paymentech negative 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 Paymentech), poor customer service, and difficulty resolving chargebacks.

There has been an uptick in complaints posted to this review in the past year, but these complaints cover a wide range of issues and do not suggest that a specific problem has emerged at Chase. With Paymentech’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 offers 24/7 phone support to all of its merchants.

Response from Chase Paymentech

Are you with Chase Paymentech? Add your own voice here!

d

BBB

Key Points - BBB

Product & Service Complaints 22
Billing & Collection Complaints 11
Advertising & Sales Complaints 3
Guarantee & Warranty Complaints 0
Delivery Complaints 0

As of this update, the Better Business Bureau is not showing accreditation for Chase Paymentech. The BBB has assigned the company a “D-” rating and is showing 36 complaints filed in the last 36 months. Of the reports, 22 are regarding problems with products and services, 11 with billing and collection, and three with advertising and sales issues. Three complaints were successfully resolved. One complaint received a response from Chase Paymentech but not a good faith effort toward resolution, and seven complaints either were resolved to the dissatisfaction of the merchant or did not receive a final response from the merchant. An astonishing 25 complaints, however, did not receive any response whatsoever from Chase. The BBB cites these unaddressed complaints as the primary factor lowering Paymentech’s rating. Taking all of these factors into account, we agree with the BBB’s rating at this time.

Response from Chase Paymentech

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Chase Paymentech Logo

Chase Paymentech Bottom Line

Overall, Chase Paymentech 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. Paymentech can improve its rating in this review by eliminating cancellation fees with all of its account types and by responding to complaints through the BBB.

Phillip Parker is a former merchant services sales agent who believes the industry has been overrun by people who engage in fraud and deception in order to steal from hard working business owners. He created this website to help you avoid the bad players, save money on fees, and to get peace of mind with your merchant account. If you would like to help support his work, learn more about our cost reduction service. We can evaluate your statement, tell you exactly how much you're overpaying, and then help you dramatically reduce your fees with your current credit card processor. Looking to switch instead? See our list of the best merchant account providers.

Schedule a Consultation with Phillip

24 Reviews Leave Your Review for Chase Paymentech Below

    Eliminate hidden fees and mistakes without switching merchant accounts. Get a free statement audit today to see how much you are overpaying.

  1. Lindsay A says:

    Our small business was defrauded by a customer for using what we can only presume was a stolen credit card. Chase Paymentech not only sided with the credit card company. They went into our account and took back the $19,000 without permission or any notification to us. They first held this transfer on their end for 7 days to “verify” that it was not suspicious after it was approved at their terminal the day of the sale. After 7 days they deemed it safe and allowed the money to be deposited. It was a month later they arbitrarily went into our account and took the money back out with no notice. I had to contact them when I noticed the money had been taken. They are OUR service provider which we PAY monthly and this was the way they handled themselves. They then told us they do not have any insurance to cover instances such as this and told us we would need to take it up with our customer in small claims. With this ever growing type of fraudulent activity any service that provides a platform for bank transactions should at the very least have coverage. This leaves small business completely unguarded for this type of loss. We can not find this customer as he is now long gone. The police are involved in this and even with an occurance number Chase Paymentech still has given us no assistance. They have treated us as if we were somehow in on it even though we provided all information required at the time of payment processing. Buyer Beware. This is the type of hit that can really hurt a small business. We have only been with Chase for less than a year. They repeatedly approached us for their business and this is how they conduct themselves. Utterly disappointed.

    From The Editor
    This Post Might Help: How to Make Your Payment Processor Release Your Money

  2. I do not like the way Chase Paymentech/integrated payments do business. I supplied all the info they ask for so I can set up the digital wallet/gateway on my site, which everything seem to be okay because many customers made purchases from site the second it went up. Less than 24hrs they send a email stating that there was trouble with my account and they froze the funds from being released to me. This is bad practice, they should ask for all info from a client upfront and review the info before letting you integrate the digital wallet/gateway on your site. This cause me to have to do refunds for all the sells. I have other gateways on my site which reviewed my info before they let me set up the gateway on my site, which is the way to conduct business for a client to use a service that a business offers. They need to change the way for clients to subscribe to their services.

    From The Editor
    This Post Might Help: Best Merchant Accounts for Digital Goods

  3. Eliminate hidden fees and mistakes without switching merchant accounts. Get a free statement audit today to see how much you are overpaying.

  4. Mikhail says:

    The chasepaymentech.com is offering good rates but they will use your company as a condom. Be ready to receive termination service email at any time and hold on your fund from $20,000.00 to $100,000.00 for six months depending on your daily sale volume. This immediately service termination will not give you any time to switch to new merchant. All your transactions for this day will be lost. Your business will not operate at least 3-6 business days until you switch to new merchant provider. I am in business over 14 years and never had any problems with other merchants with issue like this. The copy of email from chasepaymentech.com is below.
    “After careful consideration, we decided to stop processing your payment card transactions for your account ending in XXXXX by May XX, XXXX due to section 10.3 of the Merchant Agreement subsection B. We established a reserve account of $20,000.00. We’ll decide if we can return any funds to your settlement account six months after the termination date.”
    The Merchant Agreement in section 10.3 is show that if the risk department decided that your business have Anticipated Risks they will stop your service immediately. So, you will not able to accept payment until you open a new merchant service with another provider. To get a new Merchant service may take 3-6 business days so, your business will not work for this period.
    I contacted chasepaymentech risk department three times and tried to get explanation on Anticipated Risk but the answer from them is “This is our team decision and we have no any additional comments”.
    Another surprise happened at the end of business day. I received termination email at 4PM. All my transactions from the morning until 4 PM were accepted and authorized but couldn’t deposited to my bank account. I had over 10 orders that was shipped to my customers for amount of over $4,000.00. I sent several emails to chasepaymentech.com about it and didn’t get any respond. On the next business day, I contacted them by phone and they told me that because my account was terminated all my transaction for this day is lost and I have to contact my customers to get a credit card info again and manually provide it from my new merchant.

  5. Have been with Chase for over 10 years. Have never had a problem with anything. When we updated our terminals there was a minor glitch which was resolved without hassle. Very happy with them and have recommended them to others.

  6. Eliminate hidden fees and mistakes without switching merchant accounts. Get a free statement audit today to see how much you are overpaying.

  7. David Muir says:

    Do not use this service. The terms are not explained to you and they will shut you down with no prior notice. Horrible customer service and rates that are not any better than the other banks.

  8. Hector says:

    If your trying to get your money stolen this is the cumpany to go with. Customer service is the worst problems after problems and no one can give you an answer. They took like two months to give me an answer on a money that was missing and at the end of the day i didn’t get my money being a small business owner companies like this just ruined us money needed to pay workers and merchandise not here worst worst cumpany

  9. Eliminate hidden fees and mistakes without switching merchant accounts. Get a free statement audit today to see how much you are overpaying.

  10. SCAMMER ALERT! This is a pretty bad company. NO PROTECTION FOR A MERCHANT!? We have been burned way too many times, by scammers & fraudsters, using this company. It can be processed automatically and you still will lose. After numerous conversations with awful customer service, management pretty much said “we’re screwed” even after submitting evidence. This is definitely a company i would avoid, unless you enjoy losing money. If you dont believe me go give it and try… GRADE F

  11. We have an online store and we received some chargebacks 4 weeks after orders were made.

    Obviously we sent the goods in less than 48 hours since the order is processed so we sent to Paymentech all the information about the purchases (trackings, e-mails, etc.).

    Two weeks later they said that the chargebacks are our fault because the purchases were made with a stolen cards and the name on the card not match with the number of the card… how we supposed to know that???

    The payment goes trough their system so they should have a software connected with the card companies (VISA, MASTERCARD, AMEX, etc.) to check that information in a few seconds!!!

    We only receive an e-mail with the purchase details (item, name and address) so we don´t have any information about the card. It supposed to be their work because the are charging me some fees for that reason, right?

    In addition they charge us $10 for each chargeback so definitely the chargebacks are a great business for them. Maybe they have some people working for them doing purchases with fake cards because it´s a really good business for them.

    At the end of the day we are the unique part losing money because we already sent the items and paid the shipping and the chargeback fee.

    Well, the solution proposed for Paymentech at the end was: go to the police and make a report…

    How this company still working?

  12. Eliminate hidden fees and mistakes without switching merchant accounts. Get a free statement audit today to see how much you are overpaying.

  13. Stan Draper says:

    Run away from this service it is horrible! Bad customer service and the reader does not always work.

  14. Marco says:

    Two and a half years after signing up with Chasepaymenttech I sold the business. Although repeatedly was told that I was not going to get charged any fees by having the new owner sign up with them, the charged me $141 dollars a month for the next 6 months. They also did get the equipment back. Be aware, that this industry is full of scams and misleading and dishonest salespeople and Chasepaymenttech is no better.
    Now, I am most definitely not going to use Chasepaymenttech and would not recommend them.

  15. Eliminate hidden fees and mistakes without switching merchant accounts. Get a free statement audit today to see how much you are overpaying.

  16. Maurice says:

    FRAUD! Stay Away. They took all our earnings of our orders which we paid lots of money in advertising. They refuse to deposit the money of our customers to us. Now they wont even let me refund our customers the money. HORRIBLE. STAY AWAY FROM THIS FRAUDULENT COMPANY.

  17. Jason Chang says:

    Do not get this service. I closed my account in July. It’s now December and they are still deducting “fees” from my account. When I call in each month they give me some obscure explanation as to why. Stay away from this company! There are plenty of other credit card companies that are just as good! I’ll even tell you myself if you ask!

  18. Eliminate hidden fees and mistakes without switching merchant accounts. Get a free statement audit today to see how much you are overpaying.

  19. Chase user says:

    Scam company I sign up for the service has 3 years contact without letting the comsumers know. They got the business phone number wrong. Support line is really rude and not helpful email the form 3 times in a week and they say they never got it.

  20. Serge Cormier says:

    AVOID THIS COMPANY AT ALL COSTS!!! Chase Paymentech sales reps will do everything possible to get you to sign their contract by not being upfront in disclosing things like hidden fees and a mandatory hard credit check as if you are applying for a mortgage on all business owners even when applying with an established corporation!

    As soon as that document is signed, their attitude changes to a full 180 with hands down the worst incompetent customer service of any company I’ve ever dealt with! Their claim being fully transparent is an outright LIE with all of their hidden fees and credit checks. I also read somewhere that they actually withhold certain cleared transactions if they believe there is an issue with the credit card used by the customer. This means that you risk not receiving funds for products or services which were already rendered after an approved credit card transaction.

    Bottom line, Chase Paymentech is a HORRIBLE COMPANY in my opinion and should be avoided AT ALL COSTS! I ended up going with another company even after going through the initial application process and the impact of a hard hit on my credit file.

    1. dANYA says:

      This is the worst company I have ever dealt with. Bad customer service, Worse Fees, Unbelievable contracts. Never do business with them.

  21. Eliminate hidden fees and mistakes without switching merchant accounts. Get a free statement audit today to see how much you are overpaying.

  22. tal says:

    stay away – you will lose a lot of money.
    I have over 12 business locations, I give them thousand of dollars every month for their service.
    their customer service is o.k.. but their chargeback department is baaaad! I’m loosing at least 1000$ a month for chargebacks.
    their system is old and confusing its not friendly to anybody, it doesn’t let you up load all the regular kind of files, you need to go through a maze to get to the chargeback view, and then you need to do each location separately and manually plus they don’t care that your loosing money.
    do your self a favor stay away from chase paymentech service.


    Are you with Chase Paymentech? Learn how to resolve this complaint.

  23. Inez Faillace says:

    Our October statement shows that we paid $50 in fees and $46.83 in interest. What is the “fee” for. Regarding the interest $46.83; we always pay our bills on time. It’s impossible to get someone human to speak to on the telephone because of the numerous recordings.
    If no reply from you, we are switching to another service.

  24. Eliminate hidden fees and mistakes without switching merchant accounts. Get a free statement audit today to see how much you are overpaying.

  25. James says:

    I’ve been using payment tech for about 8 years now and I am looking for another provider. Paymentech is a way to start doing credit card business buts it’s like AOL. Once you learn how it’s best Timorese on. The customer service is shady and the fees add up. There is a new tech update that you would have to be a programmer to understand and they just don’t care. In general chase is very proactive to get you onboard but once you sign on you’re just a victim.
    I’d give this 1 star dick.

  26. Ivan says:

    I wasted at least three months and many emails to set account with paytech – I was straight forward from upfront that I’m new in Canada and my company is new but doing well. Filling all the forms took at least a month, then new questions from the underwrites start to come up and ended up with this email: “We require financials from a third party accounting firm. We are looking for the complete financial statements not just sections of it. We look for the accounting firms name printed on the first page where they explain what type of financial review they have conducted. They must have a balance sheet and income statement . Typically financials have results from the previous year listed on them so that we can conduct trend analysis. If not, then we require the previous year’s financials”. MEANS I HAVE TO HIRE AN AUDIT (THIRD PARTY) NEXT YEAR TO BE ABLE TO SET THE ACC with them. I mean you wasted my time but what are you get paid for??? incompetence – the worst disappointment in Canada so far..

  27. Eliminate hidden fees and mistakes without switching merchant accounts. Get a free statement audit today to see how much you are overpaying.

  28. Mindy says:

    I processed payments with Chase Paymentech for about 2 years – far too long! The application process is tedious and involves a site survey(totally odd for a home-based jewelry business). The user interface on both their mobile checkout and iTerminal are horrible – like can’t locate transaction history of certain transactions but others show up. There security measures are so extensive that it is completely annoying to deal with. I never got my card reader to work in the first place and then to have it replaced costs $63. Also, if you lose your card reader and cancel your services you are charged the $63 even though you are not asking for a replacement.

  29. liz says:

    Having dealt with quite a few of the new pop up merchant account providers (Square,etc.) who provide less than satisfactory Customer service along with an overabundance of false advertising, it is nice to have a FDIC insured bank behind me in Chase Paymentech. They had me fill out an application with all kinds of data about myself and my business to approve my merchant account (good…I would hope any company obtaining people’s credit card information would have to do this up front.) The fee’s are there, however, it is well worth it to me to pay a small fee to protect my own privacy as well as my clients privacy at a real “Bank” as well as have them literally only a phone call away if something goes wrong. No emailing and wondering if there is going to be a response. I have even had them call me about charges, fees, etc. It is nice to know that someone is concerned about you making money. Chase is. And, they are a “Big Business.” I don’t think I will ever take the risk of signing up with a small non-insured, “pretend” merchant account/credit card processor again. I am happy with Chase. So are my customers…

  30. Eliminate hidden fees and mistakes without switching merchant accounts. Get a free statement audit today to see how much you are overpaying.

  31. andrew says:

    Everything looks good until you receive your first chargeback and then you are screwed big time. No matter what you provide to chase, proof of mailing, tracking info, signature confirmation, a statement that shows shipping and billing address match,they will still rob you, take your money and have you suffer on your loss. They provide no protection over chargebacks etc and their service is awful.

    We have been with chase paymentech for about a year until we received our first chargeback for unauthorized charge. We provided everything they asked us for, proof of mailing, shipping and billing address match, signature confirmation etc and then they turned around and refunded the buyer. We ended up loosing $200 in transaction fees when the buyer has kept the merchandise.

    Bottom line is chase paymentech does not provide any sort of security over their merchant like paypal does. We cancelled our service with Chase and signed up to PayPal pro. At least with paypal we get some sort of protection over chargebacks something that Chase does not provide.

  32. Andrew says:

    We are an existing paymentech customer as a chase bank customer, we thought we should also combine merchant services with chase and their credit card processing division Paymentech. That was a terrible mistake

    We are an online store selling branded clothing and we were able to convert enough sales over the months without any problems whatsoever until last month when a customer filed for a chargeback on their order. Paymentech never notified us about the chargeback, nor did they sent us an email or any form of communication to inform us about the chargeback. We learn about the chargeback when it was posted into our account as a charge. Then we tried to contact paymentech to find out more but it was too late. The disputed amount was already filed and closed, therefore, they were unable to do much.

    i am very dissapointed with the services my company has received throughout our service with paymentech. Tomorrow we are going to call their customer service line to discontinue our service. We already signed up with another merchant processor that we will move forward. Paymentech has proven to be a non-reliable company to deal with and does not reflect the reputation Chase has as a banking institution. Too bad. For us, any creditbility we have over to paymentech is over. Tomorrow we are starting with a new payment processor.

    I would never encourage nor do i recommend Chase Paymentech to anyone

  33. Eliminate hidden fees and mistakes without switching merchant accounts. Get a free statement audit today to see how much you are overpaying.

  34. Dave Sanger says:

    Very poor customer service. Had transaction blocked by Paymentech for over 8 days; unable to get help via phone or email. Very poor communication. Unresponsive. They tehn withheld 18 more transactions, fearing fraud. Their Risk Management group is totally unresponsive. Local Chase branch totally ineffective in helping break “hold” placed on account for funds processed.

    I would not recomemnd Chase Paymentech. They lead you to believe that it is integrated within Chase; fact is that it is a subsidiary. Terrible experience.

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