Chase Paymentech Review

Chase Paymentech is a major player in the credit card processing market. They are also known as Chase and they have a full set of products. So you get everything in one place. You’ll get online payment processing, Point of Sale Systems, Mobile Payments, Virtual Terminals and more. They are very large. This is good because they have a lot of experience handling businesses of all shapes and sizes. To give you an idea of how big they are, Chase Paymentech processed payments over $750 billion with greater than 35.6 billion deals in 2013. And that was way back in 2013! It has more than 280,000 sellers or merchants. That’s a lot of merchants!

The upside to choosing Paymentech is that you can go direct to the provider who is a major payment processor. Be sure that you ask for interchange plus pricing and also try to get the best deal you can no matter what your size. You will want to make sure you are dealing with Chase Paymentech directly. They have thousands of resellers and you want to avoid the reseller and purchase directly from them. Why? This way you will get the best deal because there is no margin for the reseller.

Quick Points

  • Company Name:Chase Paymentech
  • Location: Dallas, Texas USA
  • Products: Credit card payments, virtual terminal, mobile payments, EMV credit card terminals, and a payment gateway
  • Fees: You should ask for interchange plus pricing. These guys are a huge payment processor and with their massive volume they can make deals. Also you should deal with Chase Paymentech directly for the best deal.
  • Website: https://en.chasepaymentech.ca/
  • Linkedin Profile
  • Youtube

 

Products

They cover the complete spectrum of payment processing. Their products include ecommerce payments, mobile payments, and POS Point-of-Sale payments. You can also get your merchant account from their Chase Bank. Also there are new products and services that they continue to develop and offer. In summary, you can get almost everything you need for any credit card payment from Chase. Their video below gives a nice overview of what they offer.

Online Payment Processing

They are well known for their online payment processing. That’s a good thing because online transactions need to be super fast and reliable. They have a payment gateway for your website. They also have a virtual terminal that allows you take orders over the phone and input a credit card number.

Mobile Payment Processing

They have a mobile payments product called Chase Mobile Checkout. Chase Mobile Checkout permits you to accept EMV (chip) credit cards and signature debit cards wherever you are. All you need is a mobile phone with the Chase Mobile Checkout app, their card reader and a merchant account with Chase. Chase Mobile Checkout is available for Apple ® and also Android ™ gadgets. You can download the Chase Mobile Checkout app from either the Apple App Store or Google Play ™ Shop. You can give it a try before signing up for a merchant account. What also makes the product interesting and useful is the Mobile Dashboard. This is a dashboard so that you can watch your sales on your tablet or phone.

Smartphones

Chase Mobile Checkout permits you to approve credit score as well as signature debit cards wherever your company takes you. All you require is a Web connection, a suitable smartphone with the Chase Mobile Checkout app, the card reader and also an account with Chase * Start accepting settlements with your Apple ® or Android ™ mobile phone.

Tablets

You can also use their mobile payments on a tablet. You’ll benefit from the bigger screen dimension and better resolution. Chase Mobile Checkout not only works on iPad ® but Android tablet computers as well.
This makes the dashboard feature easy to use as the screen is bigger than a phone.

Point-of-Sale Systems

Terminal rentals and sales: Chase offers charge card device services, which are far better than non-cancellable leases. The business also sells devices, including NFC- as well as EMV-capable devices. See to it to search before you buy. You don’t have to get a terminal with your processor if it’s not a good deal! Know that if you opt to lease your equipment, you should return it promptly when your service finishes or else you will be charged for the retail price of the tools. Assistance for Apple Pay and also various other NFC-based purchases: Chase Paymentech currently sustains Apple Pay for in person deals via its Future-Proof Terminal. For in-app sales, an Apple Pay SDK is also available.

Detailed Features

They offer a lot. Honestly, it’s difficult to get everything into one web page. So we’ll put some more details in a list.

-PayPal Processing: You could process repayments from PayPal or PayPal Credit scores straight through your Paymentech merchant account.
-Level II and Level III payment processing: This is a way for merchants to share additional data and receive lower credit card processing fees.
-Card Present Programs: In addition to online payments they have a card present program.
-Reccuring Payments: Recurring payments or subscription payments are for online subscriptions such as web hosting, monthly delivery of food, or basically any repeating payment.
-Account Updater: When customer credit cards change or are replaced with another credit card, Chase provides a service to update the credit cards on file that the merchant has stored.

Costs

Costs and also Rates: Chase Paymentech has begun disclosing a few of its fees and rates on its internet site. Here is what the page says concerning its streamlined prices framework. Be sure to check the website as we are not always up to date. Check their website prices here. https://www.chasepaymentech.com/chasecheckout_pricing.html

-1.99% + $.25 for the qualified tier
-Note words “qualified” there. That indicates you could still see higher prices on non-qualified transactions. What is qualified versus non-qualified? Here is a site called CardFellow that explains this well.
-The other tiers are mid-qualified tier at 2.68% + 0.25 and Non-Qualified Tier at 3.76% + 0.25.
-There is a monthly minimum of $25. So if you don’t sell $25 in the month you get charged $25.
-There is a monthly subscription fee of $9.95 to $16.95.

Paymentech does not bill any PCI compliance charges. This is good, as the PCI fees have the tendency to catch vendors uninformed as well as could be a point of contention.

Contract Length and also Early Termination Charge

If you have an existing contract with Chase Paymentech, you most likely have a three-year agreement with a $300 or $350 early cancellation fee. You’ll find this arrangement from most processors. Chase has actually also begun providing month-to-month arrangements, which implies no termination fees.

Client Support and Technical Assistance

When you deal with a business as huge as Chase, you possibly will not get the same level of support you would certainly from a smaller provider. But Chase operated a 24/7/365 support center. You can call them anytime. If you’re not getting the support you need, you can reach out to the person who sold you the payment processing. Also we would like to mention that they provide a dashboard to see your sales, chargebacks and etc. Finally they have invested heavily in customer education materials such as videos, detailed product guides and etc. They seem to be making a big effort to support their customers. That’s a good thing.

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