Customer Service

What Is Chase Merchant Services

By David Krug David Krug is the CEO & President of Bankovia. He's a lifelong expat who has lived in the Philippines, Mexico, Thailand, and Colombia. When he's not reading about cryptocurrencies, he's researching the latest personal finance software. 6 minute read

For Chase Bank’s commercial clients of all sizes, Chase Payment Solutions (formerly known as Chase Paymentech and Chase Merchant Services) provides a comprehensive suite of payment processing services.

There is no need for a lengthy contract, and the service’s wide range of goods and solutions (including mobile debit and credit card processing, support for terminal-based transactions, and e-commerce solutions) makes it suitable for any business user that interacts with customers.

It’s true that Chase Payment Solutions isn’t your sole choice in payment gateways. Square, Payment Depot, Authorize.net, and PayPal are all alternatives to their service. It’s the best option for Chase Bank customers and provides enough value that non-Chase small-business clients should seriously consider switching banks to use Chase for their checking and lending needs.

You owe it to your company to find out what Chase Payment Solutions has to offer if you are in the market for a more effective payment processing and merchant services solution.

Products and Services of Chase Payment Solutions

When it comes to goods and services, Chase Payment Solutions excels at providing what Chase Bank’s commercial clients need.

Products and services like these facilitate buying and selling on the web, with mobile devices, and at brick-and-mortar stores with POS terminals. Chase merchant account holders benefit even more from a wide variety of external connections and a solid support infrastructure.

The majority of Chase’s Merchant Services customers sign month-to-month agreements that can be terminated with no fees. Chase occasionally provides signup bonuses that consist of free payment processing equipment. Contracts for these types of transactions often call for a commitment of 24 months, while the specifics of each contract are open to change.

QuickAccept Chase

When it comes to accepting payments, Chase QuickAccept is the most painless option provided by Chase Payment Solutions.

This feature, which resides within the Chase app and is linked to the merchant’s Chase Business Complete Banking account, makes it possible for the business to take credit and debit cards from customers regardless of their physical location.

QuickAccept, along with the rest of the Chase Payment Solutions suite, is compatible with all the major credit card networks. The implementation of QuickAccept is free of charge for Chase Business Complete Banking clients.

Chase Business Complete Checking, the banking product offered by the company’s Complete Banking division, includes a $15 monthly maintenance charge that may be avoided by using a Chase credit card or keeping a certain minimum daily amount in the account.

In addition, new account holders can get a $300 incentive when they create a Chase Business Complete Checking account and use it to perform certain transactions. Only QuickAccept, offered by Chase Payment Solutions, includes upfront, non-tailored pricing and no minimum contract duration:

  • 2.6% plus $0.10 for tap, dip, and swipe purchases using a QuickAccept mobile contactless card reader
  • 3.5% plus $0.10 for manual Chase Mobile app transactions (keyed transactions).

Checkout with Chase Mobile

Businesses, such as food trucks and farmers market sellers, which accept large numbers of payments via mobile gift cards, debit cards, and credit cards can use the standalone mobile app Chase Mobile Checkout to handle these transactions. Features that stand out:

  • Integrated tipping capabilities are great for restaurants and other catering firms.
  • Having separate accounts for each employee is a great way to facilitate mobile payments.
  • Faster payments with financing the very next business day; some rivals take many business days only to execute ACH withdrawals.

Using Chase Mobile Checkout doesn’t necessitate any extra hardware on your part. Pricing for transactions begins at 2.9% + $0.25, however larger merchants may qualify for discounts. Contracts for accounts are on a month-to-month basis.

Payment Processing Terminal on its Own

To handle moderate to high transaction volumes using a portable or countertop card reader, this solution is perfect for traditional brick and mortar stores. All of the following, and more, are examples of accepted payment processing hardware:

  • Desktop terminals such as the Ingenico Desk 5000, Ingenico ICT250, Verifone Vx520, and Orbital Virtual Terminal Mobile terminals such as the Ingenico Move5000 and iWL250

Due to the constant release of updated models, the list of compatible hardware is always evolving. The hardware cost is factored into the solution’s total price, which can be decreased but isn’t guaranteed. Extra characteristics worth mentioning:

  • Support for nearly any kind of payment transaction, including swipe, dip (EMV), tap, and several mobile wallets Extensive battery life for processing when no nearby power source is available
  • Changes to tips and reporting
  • Integration with a receipt printer
  • Connectivity to the Internet at a high rate, with a fallback to a dial-up

Payment Processing Terminal Virtual

It’s perfect for businesses that operate remotely and do most of their business online, by mail, or over the phone.

A computer, an encrypted Internet connection, and a browser that can handle online payments are all that are required to utilize the virtual terminal (it supports current versions of most major browsers). Among our skills, we have:

  • Processing of credit cards through remote connection
  • Keying in purchases, returns, and credits manually
  • Operations management for orders, including reversals, partial delivery, and back orders

Pricing for transactions begins at 2.9% + $0.25, however larger merchants may qualify for discounts. Contracts for accounts are on a month-to-month basis.

Integrated Services

Several hundred other programs are compatible with Chase Payment Solutions. You may start taking use of them right away by integrating Chase Paymentech into your existing web business. Among the more notable ones are:

  • BigCommerce. If you’re looking for an alternative to Shopify for selling your products or services online, BigCommerce is one of the best options available. Get free access to BigCommerce for three months when you accept Chase Payment Solutions as a payment method on your newly established BigCommerce store (after a 15-day free trial). Starter transaction fees are 2.9% + $0.30, with potential volume discounts resulting in much reduced rates.
  • FreshBooks. FreshBooks is a market leader in cloud accounting software, and its premium plan, FreshBooks Premium, is their most feature-rich offering. When you sign up for FreshBooks and use Chase Payment Solutions, you’ll get two months of FreshBooks Premium free.
  • Joist. For builders, architects, and engineers, Joist offers a one-stop-shop for all their needs. You may make use of it to create estimates and invoices that are unique to your business, handle payments seamlessly, and manage projects.
    mHelpDesk. By using automation, mHelpDesk streamlines operations like billing, scheduling, and generating estimates.
  • Agree.com. Freelancers and independent contractors who lack the legal training or administrative staff to draft legally binding contracts may find Agree.com to be an invaluable resource. In addition, it supports online bill pay and has a built-in contact manager.
  • Fusebill. To help subscription-based organizations with churn and client retention, Fusebill automates the subscription administration and billing process. Chase Payment Solutions clients can use it for free for a whole three months.

Product Assistance

Chase Payment Solutions provides its customers with a wide variety of helpful resources and safety features, such as:

  • Chargeback and dispute management assistance for online and offline stores.
  • Security of information and prevention of fraud
  • Complete documentation and support for every gear that can be used
  • Data pertaining to taxation and regulation in commercial enterprises.

Bottom Line

Independent professionals, small company owners, and major corporations alike may all benefit from using Chase Payment Solutions to manage their payment processing needs.

However, this is not the only type of company service you will require. Also, be sure you’re not putting the horse before the cart.

Attracting consumers is crucial if you want to grow your business with Chase Payment Solutions. This requires a significant financial commitment in the form of advertising and lead acquisition via channels like Groupon Merchant and Yelp, as well as the creation of a thorough content marketing strategy.

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