A Pioneer of Value Pricing
Headquartered in Orlando, Florida, Fattmerchant 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 (now Worldpay). Fattmerchant is a registered ISO/MSP of Fifth Third Bank, Cincinnati, Ohio. Suneera Madhani is the founder and CEO of Fattmerchant.
Looking for a Processor That Integrates With QuickBooks?
Fattmerchant’s Omni Payments Platform can connect to QuickBooks Online with just a few clicks. This two-way integration automatically updates your customers, payments, and invoices across both apps throughout the day, eliminating the need for any manual reconciliation. Omni can also build an online store in minutes through a fully integrated e-commerce platform or sync additional hardware as needed.
Mobile & E-Commerce Products for Small Business
Fattmerchant offers merchant accounts via mobile phone payment processing as well as a robust virtual terminal for e-commerce merchants. The Fattmerchant mobile app is available on iOS with a just-released Android app. It can be used as a standalone solution or as part of an integrated omnichannel platform that includes both card present and card not present processing. Additionally, all transactions, drafts, catalog items, and inventory updates made in the mobile app are synced in real-time across all devices, including Fattmerchant’s virtual terminal.
A Powerful Competitor to Stripe
Fattmerchant’s e-commerce solution offers many of the same features as the popular payment aggregator Stripe but with several notable improvements. While both services offer an API for developers, a month-to-month contract, and integrated mobile payment options, only Fattmerchant provides a lower per-transaction fee, a customer support phone line, next-day funding, and QuickBooks integration. Fattmerchant’s linked mobile solution supports invoicing, manually keyed-in transactions, saved payment methods, and camera-scanned cards. Merchants are also able to add on a Bluetooth reader or terminal if they choose to accept card present transactions.
Fattmerchant Review Table of Contents
- Costs & Contract: Fattmerchant offers a month-to-month contract through Vantiv/Worldpay 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 14 complaints and 17 reviews in the last 3 years.
- Sales & Marketing: Fattmerchant does not appear to hire independent sales agents and has not received any complaints about its sales practices.
- Rates & Fees: How Merchants Got The Best Rates With Fattmerchant
2 Responses
Fattmerchant has been really inconsistent and ultimately we chose to leave them for Dharma after several bad customer service experiences. For us Fattmerchant could never manage the most base level customer service actions- like updating a bank account – something that should be super easy was met with inaction, mistakes, and delays so we almost left them a month into signing up but we liked the interface and figured it was a bump. However a year later and we received a threatening letter from WorldPay the merchant services because Fattmerchant failed to update a 3d cart storefront we were setting up and never could once Covid caused layoffs so we cancelled it- but low and behold we found out from a collections person that Fattmerchant had created a completely separate MID for our storefront, failed to update the bank account to it and then when we closed the storefront we never built they forgot to tell World Pay that too so monthly charges accumulated for over a year that we never were told about. World Pay said Fattmerchant had access to the billing breakdowns and could not explain how not even the account manager assigned to us knew anything about charges accumulating. But Fattmerchant blew it and when we found out and reached out- we asked for a supervisor to our account manager to contact us and they never did.
Our account manager even assured us in writing that upper management was aware and she could not explain why they were not reaching out to resolve this. We had a collections reported to our credit because of the incompetence of Fattmerchant to simply update our account information which they had confirmed in writing repeatedly they had done when they had not.
I am disgusted with them. They have a good interface but when it counted Fattmerchant was terrible. No one took responsibility. No one helped. And worse, they even tried to suggest it was our fault for “not completing a PCI compliance” but I contacted World Pay and challenged that and they said it had nothing to do with PCI and everything to do with Fattmerchant not updating our account so yeah, in our experience, Fattmerchant aka Stax, sucks.
This is the first processor where I understand my fees. I also have been paying about half of what I was paying with my previous processor.