Fattmerchant Review

By Phillip Parker

I was tired of watching unethical merchant services companies take advantage of unsuspecting business owners, so I built this website and wrote hundreds of reviews to expose their shady business practices. I've since appeared in INC Magazine, The Atlantic, The Los Angeles Times, Detroit Free Press, Computer World Magazine, and several others. Contact me if you want help getting their hands out of your pockets.

How to Not Get Screwed

Fattmerchant Overview

Rating

 5/5

Website

(866) 397-9826

Most Recent Comment

Brad L.: says:

October 21, 2020

"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.

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 5/5

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View Rates & Fees

(866) 397-9826

Most Recent Comment

Brad L.: says:

October 21, 2020

"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.

Reply Leave Your Own Comment

Tell us if they rock!

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 6 complaints and 3 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

Our Top Pick For 2020

O% Markup + $0.08 per transaction, month-to-month, no contract, no PCI Compliance fees, no batch fees, no statement fees, no downgrade fees, no junk fees of any kind.

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No commitment, low fees, and great support.
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Fattmerchant Rates, Fees, and Costs

Cost Summary

Countertop	Interchange + $0.06 - $0.08 Per Transaction
Virtual Terminal	Interchange + $0.15 Per Transaction
Mobile	Interchange + $0.12 - $0.15 Per Transaction
Shopping Cart	Interchange + $0.12 - $0.15 Per Transaction
API	Interchange + $0.12 - $0.15 Per Transaction
Third-Party Integrations	$0.06 - $0.08 Per Transaction
Early Termination Fee	$0
Standard Plan	$99 Per Month
Enterprise Plan	$199 Per Month
PCI Compliance Fee	$0
ACH	$0.25 - $1.50 Per Transaction

Month-to-Month, No Termination Fee

The standard Fattmerchant merchant agreement 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.

Pricing for Businesses of All Sizes

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, virtual terminal, and third-party integration sales environments) or $0.15 per transaction (for online shopping cart, mobile, 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.

Virtual Terminal and Payment Gateway Pricing

In addition to its storefront payment processing services, Fattmerchantalso dedicates a portion of its website that advertises its virtual terminal and payment gateway services. The company charges its monthly plan fees of $99 for its Standard Plan and $199 for its Enterprise Plan. Additionally, boths plans charge merchants a rate of interchange plus $0.15.

ACH Payments

You can accept direct bank-to-bank payments through Fattmerchant for a flat rate of either $0.25 per transaction (standard) or $1.50 per transaction (expedited). This pricing and service is included with all Fattmerchant accounts.

Enterprise-Level Options

The $199+ per month plan also does not charge a percentage-based markup above interchange, but its per-transaction rates are either $0.06 per transaction (for countertop and third-party integration sales environments), $0.12 per transaction (for online shopping cart, mobile, or API-based sales environments), and $0.15 per transaction for virtual terminal. It includes the same features as the $99 tier plus risk monitoring, a dedicated account manager, integrated analytics reporting, 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 Potential for Huge Savings

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 can find only two complaints about Fattmerchant’s rates and fees, and these merchants describe pricing that is exactly consistent with the company’s advertised pricing. In general, it appears that Fattmerchant is one of the cheapest payment processors we’ve reviewed. We have accordingly assigned it an “A” rating in this section for the time being.

Are you sick of hidden fees?

The top-rated on this list have transparent pricing and no contract:

Fattmerchant Complaints & Customer Reviews

Complaint Summary

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

Few Overall Complaints

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.

Email Invoicing Service

Fattmerchant’s virtual terminal lets you send one-time email invoices, schedule invoices to be sent ahead of time, or set custom payment due dates to keep money coming in on schedule.

Fattmerchant Lawsuits

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

FattMerchant Customer Support Options

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. This gives it an advantage over companies like Square or Stripe when it comes to serving mobile businesses and e-commerce merchants.

Fattmerchant hasn’t been in the industry for very long, so it may start accumulating complaints over time. However, its customer support option, legal history, and relatively clean complaint record over its first few years in business is impressive enough to warrant an “A” in this category.

Fattmerchant BBB Rating Summary

BBB Summary

Product & Service Complaints	2
Billing & Collection Complaints	3
Advertising & Sales Complaints	1
Guarantee & Warranty Complaints	0
Delivery Complaints	0

Very Low BBB Complaint Total

Fattmerchant currently has an “A-” rating with the Better Business Bureau and is not currently BBB-accredited. The company has received 6 complaints in the last 36 months, as well as 4 which were closed in the last 12 months. with 2 related to product or service problems, 3 related to an issue with billing or collections, and 1 related to an advertising or sales issue. 1 complaint was resolved to the satisfaction of the merchant, 4 complaints either were resolved to the dissatisfaction of the merchant or did not receive a final response from the merchant, and the BBB determined that Fattmerchant failed to make a good faith effort to resolve the 1 remaining complaint.

What Merchants Say

In addition to those 6 complaints, Fattmerchant has also received 3 negative informal reviews, although it should be noted that these informal reviews are not subject to authentication by the BBB. The most recent review, from a dissatisfied merchant:

I just cancelled their service in March 2018, the worst experience I had. Their service center can not even solved an BATCH SETTING (many times I ask for a solution,I was told to update from time to time, but …still failed) When I cancelled (By written a officially e-mail )the merchant service in Mach 12th ,2018, they still took away $99.00 by the end of April,2018, and twenty-four deducted from my business account. I had to have the account closed. the FATTmerchant claimed their prices is clear ,no cancellation fee ,no hidden fee…but disappointed with them.

Though FattMerchant does not assess any early termination fees, calling an account can result in paying other costs. To avoid their cost, merchant’s should familiarize themselves with how to cancel their account without paying any fees.

A Well-Deserved “A”

Given the fact that there are only 6 formal complaints filed against Fattmerchant, we agree with the BBB’s rating at this time.

Highest Rated Online Store Creators

Truth In Marketing & Advertising

Key Points

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

Keeping Sales In-House

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.

Full Disclosure

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, as well as a spot on our top-rated all-purpose processors list.

Sales & Marketing Example

Our Opinion Of Fattmerchant

High Savings and Quality Service

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. Fattmerchant offers the unique value of being ideal for both newly established businesses and enterprise-level processing alike. Merchants are encouraged to request and review all documentation, even when dealing with top-rated credit card processors.

For more information about Fattmerchant, call (866) 397-9826 or visit Fattmerchant.com.

About Phillip Parker

Why I'm Qualified to Write About Credit Card Processing

I’m a small business owner who previously worked in the credit card processing industry. I started this blog in 2009 to help other business owners by exposing credit card processors that engage in unethical marketing, rate and fee trickery, and fine-print-contract schemes. Over the last decade, I’ve reviewed hundreds of merchant services providers which has helped to educate over 5 million businesses on the nuances of credit and debit card acceptance. I’ve appeared in the New York Times, Los Angeles Times, Inc. Magazine and a host of other publications to offer insight on the subject of card acceptance.

Need expert help? Learn how we can assist you here.

I offer merchant account and credit card processing consultation for the following needs:

Selecting the right credit card processing services for your business.
Reducing credit card processing fees with your current merchant account provider.
Negotiating credit card processing fees when changing merchant accounts.
Strategies for reducing and recovering funding holds and chargebacks.

Schedule a call with me today!

Leave Your Review For Fattmerchant

One Response

Brad L. says:

October 21, 2020 at 11:19 am

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.

Reply

Fattmerchant Review

By Phillip Parker

Fattmerchant Overview

Rating

Most Recent Comment

Most Recent Comment

A Pioneer of Value Pricing

Looking for a Processor That Integrates With QuickBooks?

Mobile & E-Commerce Products for Small Business

A Powerful Competitor to Stripe

Fattmerchant Review Table of Contents

Fattmerchant Rates, Fees, and Costs

Fattmerchant Rates, Fees, and Costs

Cost Summary

Month-to-Month, No Termination Fee

Pricing for Businesses of All Sizes

Virtual Terminal and Payment Gateway Pricing

ACH Payments

Enterprise-Level Options

The Potential for Huge Savings

Fattmerchant Complaints & Customer Reviews

Complaint Summary

Few Overall Complaints

Email Invoicing Service

Fattmerchant Lawsuits

FattMerchant Customer Support Options

Fattmerchant BBB Rating Summary

BBB Summary

Very Low BBB Complaint Total

What Merchants Say

A Well-Deserved “A”

Highest Rated Online Store Creators

Truth In Marketing & Advertising

Key Points

Keeping Sales In-House

Full Disclosure

Sales & Marketing Example

Our Opinion Of Fattmerchant

High Savings and Quality Service

About Phillip Parker

Why I'm Qualified to Write About Credit Card Processing

Frustrated?Do you HATE taking card payments?

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Non-Profit Pricing Available

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Fees From Your Toes to Your Eyeballs?

Rates Heading North, Eh?

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