Finding the payment processor that’s right for your business is an important step towards success. You don’t want to see your business losing money. Which is why you need the best processing rates for the absolute best services and the latest technology.
Wells Fargo Merchant Services and Fattmerchant offer a variety of capabilities to better serve your payment processing needs, but which one is the better fit for your business? We’ve taken a hard look at Wells Fargo Merchant Services to see how it stacks up against Fattmerchant payment processing.
Wells Fargo Merchant Services
In addition to its regular banking service, Wells Fargo also offers credit card processing. The Wells Fargo Merchant Services website is a bit confusing to navigate, but they do offer standard merchant account services. In order to qualify your business must have a Wells Fargo business checking account. Your business also can’t exceed $500,000 in annual sales.
As far as pricing goes, Wells Fargo offers two options:
- 2.6% + $0.15 per swiped, dipped, or tapped transaction
- 3.4% + $0.15 per online or keyed-in transaction.
Along with these rates, there’s a $9.95 monthly fee for in-person transactions and a $24.95 fee for online transactions. There’s also a $5 monthly fee per business location if you have a non-Wells Fargo deposit account.
Wells Fargo Merchant Services does not offer deposit products and its services are not guaranteed or insured by the FDIC or any other governmental agency.
Key Features of Wells Fargo Merchant Services:
- Mobile payments
- EMV chip technology
- Clover hardware
- Payment gateway/eCommerce processing
- Custom gift cards for businesses
- Next-day funding
The most noticeable thing about Wells Fargo’s services is the fees, especially if your business has multiple locations. You’ll be paying those fees every month. Wells Fargo also states that there may even be other fees you’ll have to pay on top of the $9.95 and $24.95 fee. That’s a lot to take into account, especially if you’re a small business.
Fattmerchant Payment Processing Services
Fattmerchant is a subscription-based merchant service provider that gives merchants access to the direct cost of interchange in exchange for a flat monthly fee. This means that all merchants pay each month is their monthly subscription, interchange costs (direct costs from Visa, Mastercard, and other card brands), and the cost per transaction outlined in their subscription. That’s it. No hidden fees, no markups, and complete transparency.
Besides processing, merchants have access to their data and analytics through the Omni platform. You can manage your entire payment experience from our all-in-one platform. You’ll never pay an extra fee for PCI compliance, statements, or switching to another provider.
Fattmerchant’s Key Features:
- Subscription-based pricing
- No contracts or markups
- Real-time data and analytics dashboard
- 24/7 in-house customer service
- Over 200 available software integrations
- 2-way QuickBooks integration
- Free PCI compliance assistance
- Mobile processing
- Payment gateways
- Next day funding for approved businesses
- Integration with most established POS systems
Fattmerchant is easy to set up, so you can get processing right away. The Omni platform is home to all of your most vital data, like sales trends and outstanding payments. Plus, you’ll never be locked into a contract or have to pay extra fees.
Learn more about Fattmerchant payment processing and find out how you can quickly start saving on merchant services today. We will be happy to answer any questions you have and help you leverage the best all-in-one contactless payment processing solution for your needs.
Fill out the form below to see how much you could be saving.