Fattmerchant Review
Fattmerchant could save you hundreds on credit card processing fees. But is it good for your small to medium-size business? Read this review to find out.
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What is Fattmerchant?
Fattmerchant offers a variety of credit card processing solutions for businesses of all types. Whether you operate solely online, take phone orders, or take in-person sales, Fattmerchant has terminals and credit card processing solutions for you.
With Fattmerchant, you pay what Visa, Mastercard, and Discover charge without the credit card processor's upcharge. However, you will still pay fees.
Keep reading to learn more.
Pros & Cons
Pros
Subscription-based Pricing
You pay a flat monthly fee plus a set transaction fee depending on the type of terminal you use.
Dedicated In-house Customer Service
This feature is available to companies that process more than $500,000 annually.
Custom Statements and Invoices
You can align your paperwork with your business' brand and logo.
Integrated Payment Platform
You can produce custom reports, check inventory, and monitor sales data and customer retention across your business from every terminal in one centralized place.
Third-party Tools Intergration
Purchase a subscription to access the tools you may already use.
Cons
Subscription Fee for Each Terminal
If you have multiple channels, such as an EMV and a mobile terminal, you'll pay for each.
Expensive for Smaller Business
Smaller companies may find better value elsewhere.
Fattmerchant Products & Services
Here's a list of the features Fattmerchant offers:
Mobile Processing
Accept payments from your phone no matter where you are with Fattmerchant mobile processing. You can accept swipe, chip, and contactless payments from your iOS or Android phone.
Virtual Terminal
If you take phone orders often, the virtual terminal can be a good option. You can:
- Accept payments over the phone and key in the payment information.
- Sync the sales with your physical terminal or mobile device to complete the sale for greater security.
The virtual terminal also includes access to invoicing, inventory, and your customer database.
Physical Terminals
If you accept payments in person, the Fattmerchant terminals make it easy to process card present transactions. You can accept swipe, chip, and contactless payments with the Fattmerchant terminals.
The Fattmerchant physical terminals integrate with the virtual terminal or mobile processing for a unified solution.
Ecommerce Shopping Cart
Create your custom shopping cart to integrate your brand and logo. Customers remain on your website for the entire transaction, increasing the likelihood of a completed transaction.
Developer API
If you have complex software needs, the Fattmerchant Developer API makes it easy to integrate their processing with your software needs.
Omni Integrated Payments
Omni Integrated Payments offers a variety of advanced reporting features at no additional charge. Most importantly, you can see your sales from all channels in one place.
Fattmerchant Packages & Fees
Fattmerchant packages have a flat subscription fee:
- $99 per month for the Starter Platform (if you process less than $500,000 annually)
- $199 per month for the Enterprise Plan (if you process more than $500,000 annually)
In addition to the subscription fee, you'll pay the following:
Terminal & Integration Plans
$0.08 per transaction on the Starter Platform and $0.06 per transaction on the Enterprise Platform
Virtual Terminal Plan
$0.15 per transaction for both the Starter Platform and the Enterprise Platform
Mobile, Shopping Cart & API Plan
$0.15 per transaction for the Starter Platform and $0.12 for the Enterprise Platform
- Same day funding
- Synchronization with QuickBooks
- Advanced customization
- Terminal protection plan
- ACH transactions
Fattmerchant Equipment
Fattmerchant offers a small selection of equipment for credit card processing, including:
Dejavoo Terminals
These countertop terminals can process card present transactions that originate in person as well as that start on the virtual terminal, but the customer pays in person.
Chipper BP
You can accept swipe and chip card transactions right on your iOS or Android.
Chipper 2X BT
You can accept swipe, chip, and ApplePay right on your mobile phone.
How It Compares
Payment Depot
Like Fattmerchant, Payment Depot offers membership-based pricing with no markups. You'll pay the per transaction fee, just as you would at Fattmerchant, but you know upfront the cost on your transactions.
Payment Depot operates on a month-to-month basis. But they offer the option to pay for the service annually, which can save you a little money.
 |  | |
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Fattmerchant | Payment Depot | |
|---|---|---|
Request a Savings Analysis - | Save 40% or More - | |
Benefits and Features | ||
| Customer Service | Phone, Email, Fax, Live Chat Support, Fattmerchant Support Center | Phone, Email, Ticket Center, Social Media Platforms (Facebook, Twitter, LinkedIn) |
| Good For | Businesses processing $15,00 or more per month | Businesses processing $20,00 or more per month |
| Equipment | POS (EMV, Magstripe, Contactless, NFC), Mobile Payment Processing, Online Processing | POS (EMV, Magstripe, NFC, Contactless, Smart Terminals), Mobile Payment Processing, Online Payment Processing |
| Pricing Model | ||
| Swipe Rate | Interchange + 15¢ (for processing up to $25,000/mo; discounts for larger volume) | |
| Online Rate | Interchange + 15¢ (discounts for larger volume) | |
| Monthly Fee | $49/month (process up to $25,000/mo) $79/month (up to $75,000/mo) $99/month (up to $150,000/mo) $199/month (over $150,000/mo) | |
| Keyed-in Transaction Fee | Interchange + 15¢ (discounts for larger volume) | |
| Deposit Time | Next Day Funding (for approval) Standard Deposit Time is within 48-hours. | |
| ||
Stripe
Stripe offers pay-as-you-go pricing, rather than a monthly subscription fee. Stripe has in-person terminals for card present transactions and they offer excellent developer tools.
| ||
 | ||
Fattmerchant | Stripe | |
|---|---|---|
Request a Savings Analysis - | ||
Benefits and Features | ||
| Customer Service | Phone, Email, Fax, Live Chat Support, Fattmerchant Support Center | Phone (by request), Email, Live Chat, IRC |
| Good For | Businesses processing $15,00 or more per month | Online businesses; Customized checkout experience |
| Equipment | POS (EMV, Magstripe, Contactless, NFC), Mobile Payment Processing, Online Processing | Online Processing, Terminal, Stripe for Marketplace & Platforms, Billing Services (subscription & invoicing) |
| Pricing Model | ||
| Swipe Rate | ||
| Online Rate | ||
| Monthly Fee | ||
| Keyed-in Transaction Fee | ||
| Deposit Time | Next Day Funding (for approval) Standard Deposit Time is within 48-hours. | 7-14 days after the first successful payment |
| Chargeback Fee | ||
PayPal
PayPal doesn't charge monthly fees or startup fees. Instead, they charge a flat percentage plus a fixed fee based on the type of currency you accept.
The platform excels in online credit card transactions, but you do run the risk of cart abandonment, as your customer must leave your website to complete the payment.
| ||
| ||
Fattmerchant | PayPal | |
|---|---|---|
Request a Savings Analysis - | ||
Benefits and Features | ||
| Customer Service | Phone, Email, Fax, Live Chat Support, Fattmerchant Support Center | Phone, Email, Live Chat Support, PayPal Community |
| Good For | Businesses processing $15,00 or more per month | Accepting Paypal payments; Small businesses with average transaction under $100 |
| Equipment | POS (EMV, Magstripe, Contactless, NFC), Mobile Payment Processing, Online Processing | POS (Chip, Swipe, Tap), Marketplaces & Partners, Invoicing, Online Processing |
| Pricing Model | ||
| Swipe Rate | ||
| Online Rate | ||
| Monthly Fee | No monthly fees; $30/month for PayPal Payments Pro | |
| Keyed-in Transaction Fee | ||
| Deposit Time | Next Day Funding (for approval) Standard Deposit Time is within 48-hours. | Instant access to the funds in your PayPal account; Or instant deposit to your bank account for 1% fee or 1-2 business days for no fee |
| Chargeback Fee | ||
Bottom Line
Fattmerchant is best suited for the mid- to larger-size business that processes more than $500,000 annually. It's also great for businesses that only need one terminal, since you won't have to pay multiple subscription fees for the service.
Write to Kim P at feedback@creditdonkey.com. Follow us on Twitter and Facebook for our latest posts.
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