Fattmerchant Fees vs. Stripe Fees: Which is Better?

Fattmerchant Fees vs. Stripe Fees

As of 2019, there are more than 1,300 independent sales organizations registered with Visa that sell credit card processing services to merchants and business owners. With over a thousand options to choose from, how do you know which is the best merchant services company for your business and overall customer experience?

Choosing the right payment processor is vital to the success of your business. 

With that said we want to help cut through the jargon and make your decision simple. In order to do so, we’ve compared Fattmerchant’s products and services with that of one of our most well-known industry competitors, Stripe.

Both Fattmerchant and Stripe offer a variety of capabilities to better serve your payment processing needs, but which one is the better fit for your business? Let’s break down the dollars and cents when it comes to Fattmerchant fees vs. Stripe fees.

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What Stripe Has to Offer 

Launched in 2011, Stripe offers a software platform best suited for running an internet-based business. While the company boasts billions of dollars a year in transactions, its primary focus is businesses that transact online or via mobile app. 

Stripe pricing offers a pay as you go model which includes a 2.9% flat rate, and a 30 cent transaction fee per swipe in their basic package. There are several other Stripe payment fees that come into play when you add various add-ons and other services. This only applies to basic transactions using a debit or credit card.  If your customers choose to pay using anything else there are additional fees that could cost you. For instance, Stripe ACH fees for checks can accrue fees up to $7 per payment. 

While most of their basic merchant services are similar to Fattmerchant, their additional Stripe fees make them a more expensive option. So, the question is, how much does Stripe cost per month? Below you’ll find Fattmerchant pricing vs. Stripe pricing along with some other industry competitors listed for comparison. This scenario simulates what a typical merchant might end up paying in processing fees in a month for each company.

Cost of Processing $15,000 per Month

5 sales per day x $100 per sale x 30 days = $15,000/month

FattmerchantStripeSquarePayPalBanks
$359$480$405$405 to $547$570

Here’s a quick summary of Stripe processing fees:

The Pros

  • Quick payment processing 
  • Fraud and security protection tools
  • Online and mobile dashboard

The Cons

  • No Chargeback assistance
  • Primarily email customer service 
  • Same day funding is NOT available
  • 2.9% flat rate + 30 cents per transaction (Typically 40% more expensive than subscription-based processors)
  • Additional charges and Stripe fees added
  • Developer work is needed for the integration in most cases

As you can see, Stripe processing fees costs you over $120 more per month than if you processed with Fattmerchant.

Fattmerchant, The Way Payment Processing Should be: Simple

Ranked as one of the best merchant services companies nationally, Fattmerchant is a subscription-based merchant service provider with total transparency built into its model. All merchants have access to direct cost payment processing with 0% markups, no contracts, and no hidden fees.

Fattmerchant treats our members like family. Whenever you call in with a question, issue, or just to chat – a real person answers the phone every time (no automated calls). This is the perk of working with a more customer-centric company.

With Fattmerchant, someone is ready to help answer the phone every time. We eat, sleep, and breathe payments – so rest easy knowing that you’re getting the kind of white-glove customer service you deserve.

 

Fattmerchant is committed to never profiting off your company’s success

Here’s a quick summary of Fattmerchant processing fees and why we are the best merchant services provider for your business: 

  • No contract
  • 0% markup
  • No hidden fees
  • Quick setup
  • Recurring billing
  • Easy to read statement
  • 24/7 live customer service
  • Flat monthly subscription (save up to 40% versus traditional processors)
  • Next day funding for approved businesses
  • POS, eCommerce, mobile and virtual terminal solutions
  • Can integrate with most already established POS systems

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Each business is unique, and it pays to understand exactly what will work best for you as you explore your options. At Fattmerchant, we provide easy to use yet highly effective payment solutions to businesses of all sizes.

To learn more about our top-ranked merchant services and how they can help grow your business, feel free to reach out to us today. We will be happy to answer any questions you have and help you obtain the right payment processing solution for your needs.


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