Fattmerchant is still pretty new in the merchant services platform. Their company claim to fame is their 0% markup, subscription-based pricing. This will take away the percentage markup over intercharge. Rather, you’ll be able to pay a single monthly subscription fee that will make prices more stable and predictable.
Read below for more information on their recent bonuses.
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Fattmerchant Quick Facts
| Merchant Solutions | Card present payments eCommerce Mobile payments Online invoicing Business analytics QuickBooks integration Developer API |
| Hardware | EMV terminals Mobile card readers |
| Type of Processing Fee | Interchange-plus |
| Credit Cards Accepted | Visa Mastercard American Express Discover JCB Dining EBT Health Flex Wex Voyager |
| Payout Availability | Guaranteed next day |
| Contract | Month-to-month |
| Early Termination Fee | No ETF |
Fattmerchant Features
With Fattmerchant, they offer many common merchant solutions such as: in-store processing, eCommerce card acceptance, a virtual terminal for mail and phone orders, and mobile processing. Plus, you’ll even receive access to the provider’s powerful integrated payment industry Omni.
They are compatible with a small countertop credit card terminal or full POS Systems. This provider is able to reprogram any equipment you already have with no additional fees.
This is more suited towards online businesses. They offer smooth and secure card processing in partnership with Authorize.net. It offers customizable forms, recurring billing, and the ability to accept coupons. Fattmerchant even helps you set up your own account.
Businesses that take mail or phone orders, Fattmerchant has a virtual terminal with NFC Secure. You’ll be able to process credit and debit payments on your computer with internet. There isn’t a software you have to download, and NFC Secure is compatible with QuickBooks.
If you need to pay on the go, or merchants with non-traditional storefronts, Fattmerchant has an NPC Mobile card reader. In other words, it turns phones into handheld terminals. This reader is compatible with iPhone and Android devices and supported by major wireless carriers.
Merchants will be able to take payments, apply discounts, add tax or tips, issue returns, process refunds, and look at reports.
This platform is designed to have all pertinent merchant information into one central location. This dashboard gives easy access to reports and key metrics to assist you in making better business decisions.
Look at transaction summaries, sales data by period, info from different locations, rate of growth, customer retention details, weekly reports, etc. There are many perks that comes with this unique feature.
Pricing
You’ll be able to choose from two different types of subscription plans:
- Starter Platform:
- Processing volume: less than $500k annually
- $99/month
- Enterprise Platform:
- Processing volume: more than $500k annually
- $199/month
- Benefits include:
- Integrated analytics report
- Dedicated Customer Success Manager
- Data breach protection
- Account Updated for cards on file
- Benefits include:
Monthly charges are pretty big. However, remember you don’t have to pay a percentage fee for each transaction. These plans both have features such as:
- No cancellation fee
- 0% markup and 0 basis points
- No statement fee
- PCI compliance support
- No batch fees
- Next-day funding
- Tokenized and encrypted customer data
- Risk monitoring
- Chargeback monitoring
With transaction fees, they are outlined on Fattmerchant’s website:
| Subscription Plan | Starter Platform | Enterprise Platform |
| EMV Terminal | Interchange + $0.08 | Interchange + $0.06 |
| eCommerce Shopping Cart | Interchange + $0.15 | Interchange + $0.12 |
| Virtual Terminal | Interchange + $0.15 | Interchange + $0.15 |
| Mobile Reader | Interchange + $0.15 | Interchange + $0.12 |
| Third-Party Integration | Interchange + $0.08 | Interchange + $0.06 |
| API Subscription | Interchange + $0.15 | Interchange + $0.12 |
Other add-ons will include: same-day funding, advanced customization, terminal protection, and ACH transactions. These all come with extra charges.
With subscription pricing, the volume discounts will be built in. Normally, you would have to haggle for a better rate when you build your business. However, you won’t have to haggle with Fattmerchant. The monthly fee is consistent even as your volume increases.
| Monthly Fee | $99 | $99 |
| Volume | $10k | $100k |
| Percentage of Volume | 0.99% | 0.099% |
When you increase your business, you’ll get a lower percentage rate. This is a clever and fair process.
Important Details
When you use Fattmerchant, they offer support via email and phone at all times. You’ll be able to use their live chat perk as well. However, that feature will only be available during normal office hours.
Fattmerchant features month-to-month billing with no early termination fees (ETFs). Just give a 30-day notice before closing your account. Compared to the rest of their competition, they will need a 3-year contract with an automatic renewal clause and a big ETF. Only if you close your account before the contract is over.
Conclusion
With Fattmerchant, they are a special and fair subscription plan with a crystal clear business style. There are many other providers out there that normally use tricks and marketing plans to attract business. However, when you use Fattmerchant, they are honest, upfront, and won’t charge you with percentage fees. Plus, it’s extremely affordable and treats their customers with respect compared to their competition.
