Chase for Business is a very popular company that offers merchant accounts. One of the most important aspects of running a business is accepting credit cards or debit cards. As a result you will need a merchant account. Some businesses like to use banks for their merchant accounts so that is why the Chase merchant accounts are popular. Chase is essentially offering a line of credit to businesses when people sign up for the Chase for Business services. The bank offers you a line of credit that is used, and then it is settled when approval for the purchases made with the cards is confirmed. One of the financial institutions that offer merchant accounts is Chase. A Chase merchant account is done through the Chase brand.

Chase is one of the largest financial institutions you will find.  Chase is part of JPMorgan Chase, one of the main banks in America and in the world. Chase has been providing payment processing services since 1985. The company prides itself in its technological advancement, touting its services online and as a provider of an Internet gateway. Chase merchant accounts currently process over 1 trillion dollars a year in transactions.

Chase claims that it offers specialized solutions for different types of companies. An auto dealership may have different needs from a hotel or a retail store. The idea is to provide applications, features and terminals that work well with your business. Point of sale terminals are offered, as well as a virtual terminal. Virtual terminals can be helpful, since they are accessed online, and allow you to manage transactions from anywhere – as long as you have an Internet connection. Let’s take a closer look at the Chase merchant accounts.

• Chase on the Go Solution- This is a very easy way to securely accept credit cards and debit cards on a mobile device. The card reader is compatible with iPhone, iPad, or Android devices.
• Chase Standalone Terminals- Designed for more traditional businesses, you can use a Chase terminal to accept your credit and debit card payments. The current Chase standalone terminal has the capability to include tip adjustment and reporting.
• Chase Point of Sale Solution- Looking for more than just the ability to accept credit cards, then consider the Chase point of sale solution. With this device you can not only accept credit cards, but you can also view customer analytics, manage inventory, track sales in real time, and much more.
• Chase Virtual Terminal- This Chase merchant account product is designed for people to accept payments via the telephone, mail, or online.
• Chase eCommerce Solutions- Connect your online store to larger platforms such as WooCommerce, Shopify, or BigCommerce to collect payments. Using Authorize.net you will process all your payments securely.

In addition to accepting credit cards and debit cards, Chase also allows merchants to accept gift cards. This can be helpful, since many retailers and other make use of gift cards, and they are becoming quite popular. Chase also includes a direct Internet gateway, so that it is possible for you to set up to accept transactions online as well as in situations when the card is physically present. Chase also includes helpful products and services to help you better market yourself, and help you to use ecommerce solutions so that you are more effective online.

Whenever you sign up for a merchant account, you will have to pay fees. This is no different with Chase merchant services. There are some fees involved with the Chase merchant account that are unique to your account. Some of the general fees involved with a Chase merchant account include:

• Chargeback fee: This fee comes when a credit card payment or some other payment is charged back, through a refund or some other means. This fee is one of the reasons that so many retailers now (especially small ones) only do exchanges or store credit; they don’t want to have to refund the card.
• Discount rates: These are basically fees charged when transactions take place. You pay a percentage of the total as a fee. In some cases, there is also a transaction fee that is charged. Currently you can expect to pay between 2.6% and 3.5% per transaction with Chase merchant services. Then they will charge you a .10 cent transaction fee on top of that.

With Chase merchant services there are no monthly fees or early termination fees. However, if you get a free product from Chase, they require you to sign a contract just to guarantee some revenue for them to offset the cost of the free product.

With all being said, Chase merchant services offers average customer support. They are a lot bigger company so the personalization won’t be there. They do offer all their clients free phone support, email  support, and have a large collection of FAQ’s on their website.