About Chase Payment Solutions

Category: Merchant Services
Chase Payment Services offers a payment solution suitable for all businesses. While many payment processors struggle to meet the needs of different-sized clients, Chase excels due to being both an acquiring bank and a payment processor. The company offers quicker cash for smaller businesses and a scope for rate negotiation with larger companies.

Company: Chase Payment Solutions

Chase Payment Solutions are a division within JP Morgan Chase Bank that focuses on payment processing. A giant in the industry, Chase Payment Solutions currently serves over half of all merchants in the US and processes a global annual volume of over $1.2 trillion. Previously known as Chase Paymentech and Chase Merchant Services, Chase Payment Solutions are an acquiring bank and a direct processor. The company offers solutions that can be tailored to small companies, large companies, and everything in between.

In-Depth Analysis

0 Overall
Price 3.5
Performance 4.5
Ease Of Use 4.0
Features 4.5
Support 4.0

Pros

  • Same day deposits
  • Excellent for larger businesses with high transaction volumes
  • Multiple integration options
  • Acts as processor and acquiring bank, giving negotiation opportunities for better rates

Cons

  • Pricing is not transparent and easily understandable
  • Set up process can take up to a week
  • You need a Chase business checking account to receive the fastest payouts
  • Predominantly suited to US-based businesses

Chase Payment Solutions Comparisons

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Plans & Pricing

Chase Payment Solutions details pricing on its website. However, this pricing isn’t the easiest to see and compare, so we have summarized the pricing position for you in this review. There is no monthly flat fee pricing, and all pricing is transaction based. It’s also essential to note that large businesses have the opportunity for negotiated rates. When you engage with Chase Payment Services, you will speak to a customer support agent, and you can start discussing your pricing needs at this point.

In Person Transactions
$0.10
per transaction
+2.6%
  • For receiving credit card payments in person
In-Person Keyed-In Transactions
$0.10
per transaction
+3.5%
  • For physical customers who do not have a card with them
Online Transactions
$0.25
per transaction
+2.9%
  • For business owners with an eCommerce platform

 

Performance

Performance levels are where Chase Payment Solutions really begins to stand out. Due to Chase Payment Solutions being both an acquiring bank and a payment processor, customers are guaranteed swift transaction speeds. Deposits are fast as there is no third-party payment processor or acquiring bank to go through, and the solution can be integrated with most eCommerce platforms.

The multiple POS systems offered work well for various needs, and the reporting tools available are good. There may be issues if you are an international customer or have a low volume of transactions, but all in all, Chase Payment Solutions offers a high-quality payment provider option.

Ease of Use

It is fair to say that Chase Payment Solutions isn’t the easiest payment provider to partner up with. The onboarding process is slow compared to most, taking up to a week in many cases, where competitors can have your business set up the next day. You cannot start using Chase Payment Solutions until after speaking with a customer service agent. Plus, depending on your business sector and size, you may be able to negotiate terms, which will further take time.

Once the account is set up, Chase Payment Solutions is relatively easy to use. Chase’s software only works with approved Chase hardware providers, so you’ll need to ensure you acquire this through a Chase-approved vendor. Chase is compatible was many hardware providers, so there will be plenty of choice.

Chase Payment Solutions is cloud-based, and the setup is straightforward. Customer agents are available to help talk you through the setup process, but the instructions given were easy and very simple to use. Videos and guides are also available on the website.
Once set up, the user interfaces were easy to understand and navigate. The reporting tools were also simple to use and easy to drill down into more detail.

Customer Support

As you’d expect from one of the largest financial companies in the world, Chase Payment Solutions offers a wide range of customer service options. There is help at hand 24/7, 365 days a year, should it be needed. However, the downside of working with such a huge financial institution is that the level of service is not as personalized as it is with other smaller payment providers.

Chase Payment Solutions offers customer support via multiple methods. We contacted each of these methods to test their responsiveness, helpfulness, and level of expertise the customer care agents gave.

A 24/7 phone number is available for Chase Payment Solutions clients. We called on (877) 843-5690 to ask about pricing structures. The customer support staff answered the call quickly after approximately one minute of hold time. While the agent gave us the basic information, we were told that we would have to speak to an expert to discuss our individual case when we asked about negotiable rates. Still, this is aligned with our expectations, and the interaction was good.

Multiple online FAQs and resources are also available on the Chase Payment Solutions website. These include hardware guides, and while it can be challenging to find the correct guide, the content is helpful.

Finally, there is a form to fill out to get in touch with a customer service agent.

Personal Experience of Customer Support

Chase for business contact form

Thankfully, after completing the form, we were shown the following screen, informing us that we’d receive a call back within 24 hours. The screen also detailed the information that would be required when the callback occurred.

Chase thank you message - support

The sales agent was polite, friendly, and helpful on the call back the following day. They detailed the benefits of using Chase Payment Solutions and talked us through the standard pricing options. It was an easy process to go through, and there were no issues noted.
From our experience, we would recommend calling the helpline as the first step. The process was easy, there was almost no wait time, and the customer agent we spoke with was knowledgeable.

24/7 Help & Support
24/7 Help & Support
There is 24/7 support available to all users.
Phone Support
Phone Support
(877) 843-5690
Live Online Chat
Live Online Chat
There is a live chat
Video Tutorials
Video Tutorials
There are a number of videos available on YouTube.
FAQ
FAQ
The FAQ covers basic and advanced software-related issues.
Blog
Blog
Blog available on the website.
Features & Functionality
General Features

Chase Payment Solutions offer customers the following features and functionalities via its payment processing solution:

Merchant Account

As Chase is a payment processor and an acquiring bank, you will have guaranteed faster payments, and any issues can be dealt with directly with Chase.

POS Solutions

Chase Payment Solutions offer different POS systems that are right for your business. This can be acquired through a one-off fee or a ‘free’ terminal with conditions. We suggest buying a terminal, as the ‘free’ terminal has extensive T&Cs and early exit fees if you wish to stop using the product.

Chase Pos Solutions

Virtual Terminal

Chase offers a virtual terminal, allowing you to use your computer or phone as a credit card terminal and avoid using bulky hardware. Using the virtual terminal attracts lower processing costs.

Chase QuickAccept

If you are a Chase business banking customer, you can use QuickAccept. This lets you accept card payments through the Chase Mobile app, and you will receive the funds on the same day.

Reporting and Insights

Chase Payment Solutions offers a comprehensive reporting suite, including real-time data, charts and trends, and analytical reports free of charge. Ultimately, this helps you understand your customers better and make better business decisions.

International Payments

While most suitable for businesses in the US, Chase Payment Solutions still offers payment support for over 100 currencies globally.

Developer Options

If you’re on the lookout for customized solutions and are technically comfortable, Chase allows access to its development center. This includes access to Chase Merchant Services SDK, and support is available. However, this is only recommended for people with advanced-level development skills.

Enhanced Security Levels

Working with a payment processor as established as Chase gives peace of mind that all transactions will be secure and compliant.

Specialized Industry Services

Chase Payment Solutions offers specialist, tailored solutions to specific industries, most notably healthcare. Chase Healthcare integrates specifically with health employee records and management systems to ensure the stressful process of making healthcare payments is as smooth as can be and compliant with HIPAA processes. Automated payments and patient billing are also available.

Features
  • ACH Payment Processing
  • Billing & Invoicing
  • Cryptocurrency Processing
  • Data Security
  • Debit/Credit Card Processing
  • Electronic Signature
  • In-Person Payments
  • Mobile Payments
  • Multiple Payment Gateways
  • Online payment processing
  • PCI Compliance
  • POS Integration
  • Payment Fraud Prevention
  • Payment Processing Services Integration
  • Recurring Billing
  • Reporting/Analytics
  • Mobile Credit card processing
  • Cash Transactions
  • Contactless NFC
  • Electronic Receipts
  • Mobile Card Reader
  • 3rd-Party Integrations
Hardware & Software

Chase offers three different terminals for in-store use that will meet the needs of most businesses. Chase Payment Solutions also offers fixed pricing for a range of standalone terminals. Options available are as follows:

Terminal Type Features Price
Countertop terminal For a standard shop payment terminal setup $299
Smart terminal or receiving credit card payments around a store $399
Mobile card terminal A simple device for accepting payments on the move $49

Chase Smart Terminal

This is the top-of-the-line POS terminal offered by Chase and costs $399. Customers can swipe or tap their cards anywhere in the store, and the sleek, professional design helps the terminal stand out when used. Consumers can also use mobile wallets such as Google Pay and Apply Pay, allowing the highest levels of user experience.

Chase Smart terminal

Chase Countertop Terminal

The most popular POS product offered by Chase Payment Solutions is the Chase Countertop Terminal. This high-speed device allows payments from mobile wallets and cards, and connectivity can be provided by wireless or ethernet. The device also comes with a long-life battery and a printer as standard. A countertop terminal costs $299.

Chase Contactless Mobile Card Reader

The mobile card reader operates with your mobile phone to allow payments to be received from anywhere. It works via Bluetooth and your phone’s connectivity to accept payments from wallets or cards on the go. The Chase contactless mobile card reader is priced at $49.95. You will need to download the Chase Mobile app to your phone to use this payment solution.

billing are also available.

Features
  • iOS
  • Android
  • Cloud-Based
  • On-place Installation
  • Windows
  • Mac
Pricing Options Automations
Features
  • Free Trial
  • Freemium
  • Monthly Subscription
  • Annual Subscription
  • One-Time License
Sales Channels
Features
  • Instore Sales
  • Online Sales
  • Mobile Sales
Verdict

As long as you don’t need a payment solution instantly, we recommend you look into Chase Payment Solutions. Being an acquiring bank and a payment processor guarantees quick payments, and the pricing offered is reasonable (if not the easiest to understand). Chase is suitable for all business sizes, but we believe it to be best for companies with a large volume of transactions (that are not micro-transactions). If you want to know more, click one of the links to get in touch with a Chase customer service team member today!

David Bufton
Author: David Bufton
David is big on all things sports, from Daily Fantasy baseball all the way to the NFL. While a die-hard fan of the Green Bay Packers and a Cheesehead at heart, David is also huge on UK soccer, where he favors the Wolverhampton Wanderers (come on, Wolves!).
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