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Overview

Headquartered in Orlando, Florida, Fattmerchant (fattmerchant.com) is a subscription-style merchant account provider that was established in 2013 but began operations in early 2014. Like Payment Depot or Transparent Merchant Services, Fattmerchant specializes in charging merchants a flat monthly fee and a fixed per-transaction fee with no percentage-based rates. The company was previously known as “Sunshine Payment Services” and is a reseller of NPC/Vantiv. Fattmerchant is a registered ISO/MSP of Fifth Third Bank, Cincinnati, Ohio, and is headquartered at 100 S Orange Ave #400, Orlando, Florida, 32801. Suneera Madhani is the founder and CEO of Fattmerchant.

Key Points

  • Sales & Marketing: Fattmerchant does not appear to hire independent sales agents and has not received any complaints about its sales practices.
  • Costs & Contract: Fattmerchant offers a month-to-month contract through Vantiv with no early termination fee.
  • Complaints & Service: Fattmerchant has received fewer than 10 public complaints.
  • BBB Rating: Fattmerchant has an “A+” rating with the Better Business Bureau and has received three complaints in the last three years.
  • Rates & Fees: How Merchants Got The Best Rates With Fattmerchant

Fattmerchant Products and Services

Industries

  • Retail
  • Restaurant
  • Mobile
  • E-commerce

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Sales & Marketing

Key Points - Sales & Marketing

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

Fattmerchant appears to utilize conventional advertising and an in-house sales team to market its services. There is no evidence that Fattmerchant is a typical industry “hiring mill,” and we cannot find any Fattmerchant complaints that accuse the company’s sales reps of unethical conduct. Two complaints from the past few years do mention aggressive telemarketing tactics by Fattmerchant sales representatives, but this does not seem to be a widespread issue at the company. Fattmerchant provides a link to its contract terms on its website, and it lists its full pricing details for anyone to review. There is no indication that these fees are quoted in a misleading way. Fattmerchant’s commitment to transparency is uncommon within the industry and has earned it an “A” in this category.

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Fattmerchant Marketing Example

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Costs & Contract

Key Points - Costs & Contract

Swiped Rate Variable
Keyed-in Rate Variable
Early Termination Fee None
PCI Compliance Fee None
Equipment Lease Terms None

The standard Fattmerchant contract (available in part below) is a three-year agreement through Vantiv with automatic renewal for two-year terms and a Liquidated Damages early termination fee. A company representative has informed us that the company’s early termination fee is actually $0, and that this is specified on the company’s merchant application. The Fattmerchant website also states that the company provides a month-to-month contract with no cancellation penalty. Due to the punitive terms in the company’s boilerplate contract, merchants should ensure that their supplementary documentation lists an early termination fee of $0 or otherwise negates the language of the NPC contract. The Fattmerchant website also states that the company does not charge statement fees, PCI compliance fees, annual fees, batch fees, or monthly minimum fees.

Fattmerchant offers two pricing plans: a $99 per month standard plan for businesses that process less than $1 million annually and a $199+ per month enterprise plan for businesses that process more than $1 million annually. The standard plan does not charge a percentage-based markup above interchange, but it does charge either $0.08 per transaction (for countertop, mobile, and third-party integration sales environments) or $0.15 per transaction (for online shopping cart, virtual terminal or API-based sales environments). This plan includes analytics and 24/7 technical support with no statement fees, annual fees, batch fees, or long-term contracts.

The $199+ per month plan also does not charge a percentage-based markup above interchange, but its per-transaction rates are either $0.05 per transaction (for countertop, mobile, and third-party integration sales environments) or $0.10 per transaction (for online shopping cart, virtual terminal or API-based sales environments). It includes the same features as the $99 tier plus risk monitoring, a dedicated account manager, and chargeback assistance. The Fattmerchant pricing page notes that its enterprise plans “start at” $199 per month, so it’s possible that merchants processing well over $1 million per year will be quoted higher monthly fees.

The savings under each plan will vary depending on each merchant’s credit card processing profile, but certain business types can save a large amount of money under Fattmerchant’s pricing structure. We cannot find only one complaint about Fattmerchant’s rates and fees, and this merchant describes pricing that is exactly consistent with the company’s advertised pricing. In general, it appears that most of the company’s merchants are satisfied with their pricing. We have accordingly assigned it an “A” rating in this section for the time being. See the Fattmerchant Merchant Agreement.

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Complaints & Service

Key Points - Complaints & Service

Total Online Complaints <10
Live Customer Support Yes
Most Common Complaint N/A

We can find only a few negative Fattmerchant reviews, and there is no indication that the company is a scam or a ripoff. The available complaints seem to refer most often to bad sales experiences or undesirable pricing, but there is no consistent theme to the company’s negative reviews. Fattmerchant provides phone and email contact information on its website, and a company representative has informed us that Fattmerchant offers its own in-house after-hours support. Fattmerchant hasn’t been in the industry for very long, so it may start accumulating complaints over time. However, its relatively clean complaint record over its first three years is impressive enough to warrant an “A” in this category for now.

Response from Fattmerchant

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BBB

Key Points - BBB

Product & Service Complaints 2
Billing & Collection Complaints 0
Advertising & Sales Complaints 1
Guarantee & Warranty Complaints 0
Delivery Complaints 0

Fattmerchant currently has an “A+” rating with the Better Business Bureau and has been BBB-accredited since August 2015. The company has received three complaints since its BBB profile was created, with two related to a product or service problem and one related to an advertising or sales issue. All three complaints either were resolved to the dissatisfaction of the merchant or did not receive a final response from the merchant. Fattmerchant also has received four positive reviews and two negative, although it should be noted that these informal reviews are not subject to authentication by the BBB. Given the fact that there are only three complaints filed against Fattmerchant, we agree with the BBB’s rating at this time.

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Fattmerchant Logo

Fattmerchant Bottom Line

Fattmerchant rates as a reliable merchant services provider according to our rating criteria. The company is showing very few complaints and appears to offer competitive, transparent contract terms. Merchants are encouraged to request and review all documentation, even when dealing with highly rated providers.

Hi, I’m Phillip Parker and I believe that the merchant account industry has been overrun by people who engage in fraud and deception in order to steal from hard working business owners. I created this website to help you avoid the bad players, save money on fees, and get peace of mind with your merchant account. If you would like to help support my work, check out my cost analysis service. I can evaluate your statement and tell you exactly how much you're overpaying for your merchant account. Get more information here.

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5 Reviews Leave Your Review for Fattmerchant Below

  1. I have not done business with this company, but their phone sales tactics are deplorable. They try to bulldoze their way to a name they got on a list and lie about that person “reaching out to them”. They are rude liars. They will not remove you from their sales lists. I would not trust my money (or my clients’ – I am an accountant), Be wary……

  2. I had this company for my hair salon for a month.they are the worst. They charged us $99 a month 8c a transaction plus 1.6%. This was the most I have ever paid & it was only for three weeks. It took them a month to get the terminal running properly & they replaced it 3 times. I have already gone back to my old company but still got charged $99 because they require 30 days notice. I would not recommend them to anyone, tech support stops at 5pm so if you work past that too bad, other times we were told they had an 80 minute wait. It’s been a nightmare & im glad to be out of it.

      1. I received phone call stating I may have been overcharged “bank fees” and could I provide my banking information to investigate. The man was super aggressive, very misleading about why he was calling, and I finally hung up on him. How is this company surviving in today’s business environment employing tactic like “slamming”. DON’T DO IT

    1. Don’t bother with Fat Merchant. They are nothing but a bunch of liars. I had called them before the 2.9% + .30 flat rate had expired. They told me they would honor it, but it turned out they were only staling me every single time and made nothing but excuses to delay my application. Talked to Sid so many times and heard nothing but lie after lie from her. I’ve submitted several applications to merchant processing company but NONE were the most BS as Fat Merchant. I submitted 3 months worth of credit statements with over $250k of transactions and ZERO chargebacks. That wasn’t enough for them, so they kept on stalling, So sent them my back up processing account again $25k ZERO disputes. Still not enough, they started getting creative with their stalling tactics and lies. Now Sid says now they want a Inventory Report and Profit Loss statement (who asks for that no one because it was just a lie!) Submit it via my quickbooks report, week goes by she hadn’t done nothing, then she goes BTW I want this report now, just more of their lying BS. This was going on from July 14, 2017 through the first 2 weeks of August. Just runaround lies and BS. In the meantime, as Fat Merchant was playing their games we got approved with a better company, infact the new company plus PayPal merchant. And they NEVER asked for all the paperwork that Fat Merchant was making up as they went along because they NEVER intended to give me that 2.9% + .30. So Fat Merchant, Sid can go to hell for who we care! Btw The owner of Fat Merchant is bankrupt and if you google them Chapter 13, and owes foreclosures left and right. Google It!

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