Merchant Services Reviews: Which Ones Can You Trust?

merchant services reviews

In an industry known for unnecessary fees and outrageous markups, it’s a number one priority as a business owner to partner up with one of the good guys. Finding a merchant services provider that will work well with your business may seem like a challenging task. But it doesn’t have to be! With tons of companies out there that claim to be the best fit for you, it really comes down to determining which one is most cost effective, and most honest and open about the services they provide. How can you tell which one is really the best? We’ve gone through some merchant services reviews to compile this breakdown of some of the popular credit card processors.


4. Cayan (Merchant Warehouse)

Cayan, previously known as Merchant Warehouse, is a merchant processor with a fairly good reputation. In addition to offering merchant accounts, Cayan (Merchant Warehouse) introduced a new processing solution in 2012 that was designed to help merchants accept payments with both traditional methods and emerging payment methods, such as digital wallets, QR codes, NFC, and EMV. They entitled this solution “Genius Customer Engagement Platform.”


  • Good customer support
  • No annual fee
  • No termination fees
  • No setup/application fees
  • Multiple product options and services
  • Interchange-plus pricing offered


  • Month-to-month contract
  • $99 PCI compliance fee
  • Doesn’t advertise rates or fees on website
  • $25 monthly minimum
  • $7.95 statement fee
  • 35% restocking fee on returned terminal
  • Doesn’t provide information about interchange-plus pricing on their website
  • Signs thousands of merchants each month, often generating a high negative complaint volume

*Review based on Merchant Maverick as of Jan. 2015

3. Chase Paymentech

With its quick and easy credit card processing, Chase Paymentech is known as one of the top payment processing providers. They offer POS, eCommerce and mobile payment processing, as well as industry fraud and security protection tools.

As a large conglomerate, it’s wise to be aware of hidden fees Paymentech will add to your bill, increasing your overall monthly processing cost. And if you have a question or dispute about these fees, be prepared to talk to a recording, listen to thrilling “hold music,” then finally chat with a live representative…if you’re lucky.


  • Quick and simple card processing
  • Advanced fraud and security protection tools
  • Stores customer profile data securely
  • Online and mobile dashboard
  • Large selection of credit card processing machines


  • Not recommended for small business because of fees and process timing
  • Of the complaints that do surface, customers frequently claim they’re given no warning about withholding funds or freezing accounts and customer service is unable to quickly resolve these issues

*Review based on Merchant Maverick as of June 2014

2. Bank of America Merchant Services

With its secure and innovative products and services for merchants, Bank of America Merchant Services can be a viable payment processing option for some merchants. It offers a tablet POS system, mobile payment processing for their customers, along with small business eCommerce solutions.

It’s important to note that Bank of America Merchant Services actually uses First Data for processing. While the contract terms may seem appealing, they’re oftentimes not competitive in the merchant services market. If you conduct your personal banking with Bank of America, you may find that Bank of America Merchant Services is different in many ways.


  • Fast access to funds
  • Enormous merchant acquirer
  • Real-time reporting and analytics
  • Gift card services
  • Wide array of hardware and software products
  • Works well for small and large businesses
  • Advanced fraud and security protection tools
  • Ability to monitor transactions from any device
  • Offer merchant services, POS, terminal leases, mobile payments


  • Locked-in contract
  • Undisclosed monthly minimum
  • Early termination fee ($500)
  • Annual fee ($95)
  • Little advertising transparency
  • Numerous and hefty undisclosed fees
  • Growing pool of customer complaints about sign up terms
  • Not recommended for small business because of fees
  • Claims of poor quality customer service

*Review based on Merchant Maverick as of Feb 2015

1. Fattmerchant

Fattmerchant is ranked one as one of the top merchant service companies nationally and it’s easy to see why. As a subscription-based merchant service provider with no statement fees, no annual fees, no contract fees, 0% markups, and great customer support, Fattmerchant offers a seriously competitive edge in the merchant services market.

People may believe that Fattmerchant is too good to be true with it’s transparency guarantee. However, the Fattmerchant team strives to disprove this ideology and thrives off the idea that no credit card processor should ever make variable income on your business. Signup is risk-free because there is no contract and no termination fees.


  • No contract
  • Subscription-based monthly flat-rate
  • Quick setup
  • No markup
  • No hidden fees
  • Direct cost
  • Recurring billing
  • Easy to read statement
  • Next day funding for approved merchants
  • POS and eCommerce payment processing
  • Can integrate with most already established POS
  • Three different subscription plans to choose from
  • Free processing equipment with each plan
  • Payments are processed on secure networks owned and operated by Vantiv

What Fattmerchant Isn’t

  • A huge conglomerate processing company

After sifting through all these reviews, you should have a better idea of which services you should be receiving and for what prices. If you’re interested in finding out how much Fattmerchant can save your business on merchant processing, contact us today! Remember, signing up with us is risk-free because we don’t do contracts. So if you’re unhappy with your services and want to leave at anytime, we won’t charge you a penny.

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