Chase Paymentech

Chase Paymentech
  • Editor Rating

  • Rated 4 stars
  • Excellent

Review Summary:

There is always a tradeoff when working with a large versus small processor, but Chase Paymentech shows a commitment to being one of the top options available for business owners looking to process credit cards.

Chase Paymentech

Review Summary:

There is always a tradeoff when working with a large versus small processor, but Chase Paymentech shows a commitment to being one of the top options available for business owners looking to process credit cards.

View our Top Ranked Processor

Chase Paymentech is a global leader in Merchant Services based in Dallas, Texas. The company was formed when Chase Merchant Services merged with Paymentech in 2005. The result is one of the largest and most established processors we have come across during our review process.

From a high level review perspective they have an A+ rating with the Better Business Bureau and serve almost 250,000 merchants. Chase Paymentech has a global footprint, which does offer some benefits for those merchants who are expecting their business to expand internationally. Global currency exchange is part of the business model and certainly a value add for those merchants that may need it.

For such a large company, Chase Paymentech has a surprisingly small number of negative complaints made against it. One areas where we advise merchants to be careful is to try and work with Chase Paymentech directly. In addition to their direct sales team they also have independent sales agents working through sub-ISOs, and in some cases we have seen some issues related to those companies employing contracts and cancellation fees. In the past Chase employed a 3 year contract that came with significant cancellation costs for merchants that tried to cancel, however as the market has matured and more and more processors have moved to the month-to-month approach, Chase has recently updated their approach and merchants are now able to sign up on a month-to-month basis. For existing merchants working with Chase and may still be under contract, we highly recommend calling in and working to move yourself onto a month-to-month agreement. If you are new to Chase then we definitely recommend mentioning during your call that you want to be on a month-to-month agreement – this shouldn’t be an issues, but it’s worth mentioning.

Obviously when working with a major processing player such as Chase Paymentech, there are going to be positives and negatives. In terms of the pros of working with such a large processor, with so many merchants they are typically able to get lower pricing on the processing costs and are able to pass those savings onto their customers. Additionally they have fully staffed and trained customers service teams that can handle nearly any issues that comes up (rarely are you as a merchant going to have a problem that someone hasn’t already seen). However there are negatives to working with these larger processors, the first of which is the obvious feeling that you can be a very small fish in a very large pond.

Before You Sign A Contract!

We recommend that all merchants speak with at least 2 processors before signing their contract. Why?…

First – You should feel comfortable with the sales representative, if you’re feeling pressure on the call or feel as though you are not a focus, it’s unlikely your experience will improve after signing your contract!

Second – Be wary of introductory rates (specifically qualified rates) in the initial pitch – each business is unique and the rates/fees that will actually save your business the most, are only available once the sales representative has learned about your business.

We currently have Cayan listed as our top ranked merchant service provider. However if they do not fit your needs, you can look through our full list of processors and find the one that is right for your business here.

Chase also offers a “free” terminal program, which for merchants that are just getting started may seem like a deal that’s too good to be true. While the program does allow merchants to begin processing with a new terminal for free, there are strings attached and accompanying the free terminal is an agreement that if you do not process credit cards with Chase for 24 months you are held liable for the full cost of the terminal. This remains a solid deal for merchants that know that they are going to be processing, however it does negate the “month-to-month” aspect that we mentioned earlier as you’re effectively agreeing to process with them for 2 years (however even then in a worst case situation, if you decide to cancel you’ll be paying for the cost of a new terminal and will not need to purchase one with your next company). For new business owners, we advise you to avoid getting to hooked into the “free” aspect and think of it more like you would a cell phone contract where you get a “free” phone for signing up for a long term agreement.

An even bigger item to discuss is their terminal lease program.  Many small business owners are made aware of this program which allows them to lease a terminal for three years at $30 per month. A rental payment of $30 per month for 3 years adds up to over $1000, but the you can purchase a terminal outright for a couple hundred dollars and save a lot of money – we highly recommend that all merchants always purchase their credit card terminal rather that lease.

Chase Paymentech does have a well-deserved reputation for offering all the tools necessary for a small business owner to satisfy its customer payment needs. They have a complete suite of eCommerce tools that helped them win the Internet Retailer’s Top E-commerce Payment Processor award for six straight years. The suite of tools include Chase’s PCI-compliant Orbital Suite that boasts a virtual terminal, payment gateway, managed billing tools, customer management, and flexible integration. Other eCommerce tools include alternative payments, recurring payments, and international payments, all of which are designed to help the small business owner satisfy his payment processing needs as seamlessly as possible.

While Chase Paymentech is a proven leader in providing merchant services for small and mid-sized business owners across the world, they have a number of resources available to them that small processors do not but also bring with them some of the negatives that come with working with such a large processor. There is always a tradeoff when working with a large versus small processor, but Chase Paymentech shows a commitment to being one of the top options available for business owners looking to process credit cards.

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SMB Reviews
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SMBReviews is committed to providing small and mid-sized business owners with the information and resources they need to select the best service or product for their company.

Editor review

Customer Service



There is always a tradeoff when working with a large versus small processor, but Chase Paymentech remains as a strong option for business owners looking to process credit cards.

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