Chase - Top Merchant Services

Our Verdict

Undoubtedly, Chase is different from a host of other payment processing platforms. That it doubles as an acquiring bank and a payment processor makes it an ideal software for businesses keen on the speed and efficiencies of their payment transactions. This solution’s multiple functions also mean that business owners will enjoy some degree of convenience in accessing their funds.

Chase also works for all business sizes but is more advantageous to businesses with a high transaction volume. This is because service rates can be negotiated before the onboarding process, and transaction charges can be significantly reduced.

However, the platform (via its website) isn’t very transparent about deal-breakers like early termination fees, long-term contracts, and the cost of using the services of their experts. It also doesn’t have a free trial or demo. So, you can only know what you are up against when you’ve reached out to their support agent or begun to use their services.

You may not find Chase the best payment processor if you want your account up and running in a matter of hours. It can take up to 5 working days (2 weeks for Canada and Europe) to set up and activate a Chase merchant account.

However, a call to Chase customer support should convince you whether this solution is right for your business or not.

Pros

Same-day funding
Ideal for large and high-risk businesses
No monthly fee/flat rate pricing
Specialized merchant services

Cons

May not be ideal for businesses outside the U.S.
Not much pricing information available for the public

Plans & Pricing

Chase may be a popular merchant service provider, but they do not offer their services according to the common monthly-paid plans. Therefore, what you get to pay to use this payment solution will depend on your line of business and the payment method you opt for. Nevertheless, the solutions payment methods are outlined in the table below:

In-Person Credit Card Processing

At the rate of 2.6% + $0.10, Chase allows business owners to receive payments via credit cards. This rate applies only when your customers are physically available to present their cards to be swiped, tapped, or dipped on the Chase terminal.

Keyed-In Transactions

If your customers’ cards are unavailable in your physical store, you can still receive their payments on Chase by keying in their card details. This service costs 3.5% + $0.10 and ensures the security of the keyed-in financial information.

Online Payments

For business owners with an online store or ecommerce platform, Chase charges a competitive rate of 2.9% + $0.25 for each payment processed on their platform. However, the monthly rate you pay to use Chase’s ecommerce platform will depend on the ecommerce plan you opt for.

Other Transactions

In addition to the fees you pay for processing your business payments with Chase, there are other transactions you will need to pay for before you receive access to them. These transactions include using Chase payment processing hardware and the subscription for third-party services.

Contactless card reader	$49.95
Countertop terminal	$299
Smart terminal	$399
Standard ecommerce plan	$29.95/month
Plus ecommerce plan	$79.95/month
Pro ecommerce plan	$299.95/month

In-person

2.6% + $0.10 per transaction

Keyed-In

3.5% + $0.10 per transaction

Online

2.9% + $0.25 per transaction

In-depth review

Features and Functionality

Virtual terminal

Chase offers an efficient virtual terminal for payment processing for business owners who would rather not do business with bulky hardware. With a computer and internet access, you can receive payment from your customers, set up recurring bills, simplify your business’s checkout process, and securely manage your customers’ information.

Chase also provides a payment gateway, in sync with Authorize.net, to help you receive card payments from your online front.

Credit Card Processing

Chase offers its users credit card processing via its Chase QuickAccept platform. You can receive credit card payments via the Chase Smart or Countertop terminals, the Chase Mobile App, or the contactless card reader. The rate you pay for using this service will then depend on your customers’ preferred method of payment as well as your deal with the company.

Mobile Payment Processing

You can also receive mobile payments via the Chase Mobile Checkout. Your customers can decide their payment method, and you receive your funds the next day.

Ecommerce

Chase offers ecommerce services by integrating with BigCommerce. This feature allows business owners to design and create their online stores from customizable templates. It also includes inventory management features, fraud alerts, and DDoS protection. Users can also access apps and tools that allow them to scale and sell their products on high-traffic platforms like Amazon.

Customer Insight and reporting

Chase helps you stay abreast of your sales and your customers’ shopping preferences via its customer insight and reporting feature. Real-time data, figures, and a sneak peek into how customers interact with your competitors are the various perks of this tool.

In addition, you also receive a timely analytic report of your business (at no additional cost) to help you make profitable business decisions.

Restaurant Services

Chase integrates with TouchBistro, a restaurant management platform, to provide top-notch management and payment processing services to restaurant owners.

Via this integration, the Chase restaurant service gives users access to menu management, table management, tableside and online ordering, and kitchen and customer-facing displays. This integration also helps restaurant owners manage their staff and ingredient inventory to increase profit and deliver premium services to customers.

Healthcare Services

The Chase Healthcare solution makes healthcare payment effortless for patients and healthcare professionals. It integrates with health employee records and management systems and InstaMed to ensure that staff members are competent and patients can pay easily using a HIPAA-compliant process.

Automated payments and patient billing are also integral features of the Chase Healthcare Solution.

Professional Services

Chase provides specialized services to professionals in various sectors like building, consulting, marketing, and project management. This solution allows you to keep track of your bills and invoices, manage your vendors and clients, and stay ahead of the happenings in your projects or contracts.

To make this service seamless, Chase integrates with other professional services tools like FreshBooks and Buildretrend to eliminate manual processes so that professionals can focus on delivering premium services to their clients.

Hardware Requirements

Chase does not indicate any permission that allows users to access their services using third-party hardware. However, each component of the Chase hardware is secure and comes with fraud protection. They also have user warranties that will be disclosed upon purchase.

Contactless Mobile Card Reader

The Chase contactless mobile card reader costs $49.95 and allows you to receive payment on the go. It works with your mobile phone via Bluetooth to help you receive payments from your customers via credit cards or mobile wallet payments.

Smart Terminal

At $299, you can purchase this card processing terminal from Chase. It is portable, Wi-Fi and wireless networks enabled, and allows you to create your product catalog for an improved checkout experience.

Countertop Terminal

The Chase countertop terminal is a high-speed device you can use to accept payments via cards and mobile wallets. It features a built-in printer, a long-lasting battery, and Ethernet/Wi-Fi connectivity.

Integrations & Add-ons

Chase Payment Processing integrates with other business solutions to ensure users can access all their business tools from one place. It integrates seamlessly with the TouchBistro restaurant management platform to provide premium restaurant payment processing to users.

It also works with InstaMed to help business owners in the healthcare sector access HIPAA-compliant services. Furthermore, Chase works with BigCommerce to provide ecommerce solutions to business owners. It syncs with FreshBooks Accounting software to ensure that professional service providers always have their numbers in order. And it also works with the Buildertrend construction project management platform to help professional contractors and builders stay abreast of their project operations.

Ease of Use

Chase payment processing is a cloud-based platform that processes payments from customers on behalf of businesses. This platform also acts as an acquiring bank and processes payment directly without needing an intermediary. As a result, this platform does not come with the hassle of waiting for days before receiving deposits of business transaction values.

However, Chase isn’t the easiest to use compared to other merchant service providers. This is because you cannot open and activate your merchant account in minutes, as is obtainable with most other service providers. Instead, you will need to reach out to Chase customer support to get a quote for your business. You may also negotiate your payment plan according to your business’s risk value and transaction volume.

Although the Chase user interface is intuitive, the software only works on certified hardware. And you need to purchase your Chase hardware of choice from an accredited Chase distributor or agent.

The Chase Mobile Payment processor also allows users to process payments without hurling bulky hardware around. Hence, the software sure passes for convenient alternatives for businesses adopting a seamless payment process.

Customer Service

Phone Support

Phone support for sales inquiries and assistance during the use of the software.

Live Online Chat

Live chat support via the Chase website.

Email support for active and potential users.

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Murad Jaffery

Murad Jaffery is a chartered accountant specializing in the field of accounting and finance. He has been writing on these areas for nearly a decade, and is also an accounting tutor. He holds master’s degrees in accountancy and English literature. Murad enjoys traveling and reading.

We make the best effort to present up-to-date information; however, the terms of each offer can be revised according to the service provider’s discretion. The above shall not be considered as an expert or professional advice for any matter.