Chase Payment Solutions At a Glance
Chase Payment Solutions is highly regarded because it can both process payments and act as an acquiring bank, whereas most payment processing systems have to go through a third party. This means businesses get their deposits much quicker. Additionally, Chase is PCI-compliant, which is important to protect your customers’ data.
Transaction fees for your Chase Payment Solutions account depend on which platform you use and what transactions your business performs. This may be why Chase isn’t very transparent with its pricing without getting on the phone with a member of its sales team.
We did manage to find flat-rate pricing after extensive digging, but this pricing structure is best suited for low-volume merchants. During your phone call with a sales rep, you may be able to negotiate lower fees if you have a higher sales volume. Unfortunately, to set up an account you must speak with a Chase rep. This differs from Square or Stripe, which takes just minutes to set up online.
| Platform | Pricing | Special Requirements |
|---|---|---|
|
Chase Quick Accept
|
2.6% + $0.10 per card-present transaction; 3.5% + $0.10 per keyed-in transaction²
|
Must have a Chase Business Complete Account
|
|
Chase Mobile Checkout
|
2.6% + $0.10 per card-present transaction; 3.5% + $0.10 per keyed-in transaction²
|
None
|
|
Standalone Terminal
|
$299 countertop terminal; $399 mobile terminal; 2.6% + $0.10 per tap, swipe or dip transaction; 3.5% + $0.10 per keyed transaction²
|
None
|
Chase Payment Solutions integrates well with all major e-commerce platforms such as WooCommerce, Shopify and BigCommerce. However, a significant drawback is that you cannot send an invoice with Chase, whereas much of its competition can, as seen in our Best Merchant Services article. Another significant disadvantage is its lack of positive customer reviews.
Featured Partners
1
Stax
No
First Month Free
$99 per month, 7 cents to 15 cents per transaction plus interchange rate
2
Finix
No
Save up to 40% on credit card processing
Transparent subscription-based pricing with 0% markup on interchange fees
3
Payment Depot
No
$0 Setup & No Cancellation Fees
Customized Interchange+ Pricing - Rates as low as 0.2% - 1.95%
4
Paysafe
No
SAVE or get a $200 gift card + FREE payment equipment*
Industry-low rates starting at $0.15 batch fee + 0% Cash Discount Plans available
Other Benefits
If your company uses Chase’s business banking services, you get access to next-day business funding and lifetime reporting. Additionally, all merchant accounts get a dedicated account rep, fraud protection and 24/7 phone access to customer service.
Fine Print
To sign up for Chase Payment Solutions, you must fill out a query form. This form goes to a sales rep who should contact you within 24 hours to discuss your business and the pricing based on your business needs. Month-to-month contracts are available based on processing volume.
While many plans have no contracts, you may need to sign one if you’re dealing in multiple currencies, process over $5 million in sales or need specific software integrations. Businesses with international sales may find the commitment to a long-term contract off-putting. It’s important to carefully review it before signing because there are early termination fees if you end your contract early.
How Chase Payment Solutions Stacks Up
| Chase Payment Solutions | Square | Stripe | |
|---|---|---|---|
|
Easy Setup
|
No
|
Yes
|
Yes
|
|
Offers Invoicing
|
No
|
Yes
|
Yes
|
|
Third-Party Processing
|
No
|
Yes*
|
Yes
|
|
E-Commerce Integration
|
Yes
|
Yes
|
Yes
|
|
Learn More
|
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|
Read Reviews
|
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|
*It’s worth noting that Square uses Paymentech, Inc. for its third-party processing, which is owned by J.P. Morgan Chase & Co.
Is Chase Payment Solutions Right for You or Your Business?
If you want a direct payment processor with fast deposits and many different options for point-of-sale systems, you might like Chase Payment Solutions. Should you need more advanced features such as inventory or sales tracking, it has those options too. Chase works well with e-commerce stores, restaurants, retail shops and service-based businesses.
However, if you deal with multiple currencies or have a high volume of sales, it’s worth looking at alternative options that don’t require contracts. If your business relies on sending invoices and receiving those funds, you must find a different payment processor.
Additionally, its poor customer reviews with no response from Chase should give you pause. Note that many of the complaints revolve around early termination fees or account closures and restrictions.
¹Payments processed, approved, and completed by 5:00 PM Pacific Time (PT) / 8 PM Eastern Time (ET) are eligible for same-day deposits, 6 days a week, excluding Saturdays. In addition, all QuickAccept® deposits are subject to the QuickAccept Terms of Service. Payments held for risk, fraud, or other review may not be eligible for same-day deposits. Payments processed, approved and completed by 5:00 PM PT / 8:00 PM ET, Sunday through Friday (including holidays), will be deposited into the business owner’s Chase business checking account that night. All payments processed, approved and completed by 5:00 PM PT / 8:00 PM ET on Saturdays will be deposited into the business owner’s Chase business checking account Sunday morning by 7:30 AM ET. There is no additional cost for same-day deposits, but standard rates and fees will apply for business checking and payment processing. Customers qualify for same-day deposits upon sign-up and depositing into a Chase business checking account. Same-day deposits are available in the U.S. only. Additional exclusions may apply.
²Rate Information: Mastercard, Visa, American Express, Discover, and Chase Transactions involving physical Credit and Signature Debit cards will be assessed 2.6% discount rate and $0.10 per tap, dip or swiped transaction, and 3.5% discount rate and $0.10 per keyed transaction. PIN Debit, EBT Transactions and E-commerce transactions are excluded. Not all businesses may qualify, talk to a payment specialist for more details.
Frequently Asked Questions (FAQs)
How do I contact Chase Payment Solutions?
You can reach Chase Payment Solutions at (888) 886-8869. Unfortunately, it does not have an online chat feature.
What is PCI compliance?
The Payment Card Industry Security Standards Council is an independent body that sets the standards for avoiding breaches, fraud and payment card data theft. PCI compliance gives your customers peace of mind that their information is secure when checking out at your POS or e-commerce store. Merchants that aren’t compliant face fines of up to $500,000 per incident for security breaches.
Can I use Chase Payment Solutions with my e-commerce platform?
Chase Payment Solutions integrates with most of the popular e-commerce platforms. These include Shopify, WooCommerce, Volusion and BigCommerce. In total, it has over 140 software integrations.
What is the difference between a merchant account and a payment gateway?
While they perform similar functions, a merchant account and a payment gateway are two distinct things. A merchant account refers to the bank account that facilitates transactions to your business. A payment gateway is essentially the technology that processes the card transactions for your business. You can check out our guide to the best payment gateways on the market for more information.
What is a point-of-sale (POS) system?
A POS system is a critical part of any retail business, whether it’s a brick-and-mortar business, online operations or mixture of both. They allow business owners to track sales, manage inventory and run reports. A good POS system can make a big difference in a retailer’s bottom line.
