Best for
Low-to-Mid Risk Businesses, small & medium businesses, multi-location businesses, product developers, partners
Specializes in
Processing solutions for businesses in industries such as retail, healthcare & wellness, professional services, field services, and food & beverage
Pricing Summary
Setup Fee: None
Monthly Fee: $99, $199, or other
Swipe Rate: 6¢+ per trans. & direct cost
Keyed-in Rate: 12¢+ per trans. & direct cost
Early Termination Fee : $0
Contract Terms:
Fattmerchant is a Florida-based merchant services company that has been in business for five years. It offers credit card processing solutions to small businesses in many industries, including retail and e-commerce, spa and fitness, food and beverage, and professional services such as healthcare and legal services. It can be used to accept payments at a brick-and-mortar location, on the go and online.
Fattmerchant is a merchant services provider that boasts a simple payment processing structure: flat-fee processing, award winning support, and cutting-edge technology. Fattmerchant’s pricing is unique because it is subscription-based and flat rate. They offer the true cost of interchange (no additional percentage added) while other processors charge an additional, variable percentage.
Fattmerchant specializes in solutions for low-to-mid-risk businesses using physical terminals, virtual terminals, mobile payments, eCommerce shopping carts, online developer APIs, and their Omni platform.
Solutions are available for both eCommerce and in person processing environments for retail, healthcare & wellness, professional services, field services, and food & beverage industries.
In addition, Fattmerchant also has a partnership program.
Head Quarters
Orlando, Florida
Year Founded
2014
CEO
Suneera Madhani
Employees
150
Merchant Provider Risk Tolerance
Setup fee is zero.
No early termination fee.
No contract required.
Works with businesses with a physical location, online and on the go.
Same day and next day funding options available.
Monthly fee assessed.
Accepts low to mid risk businesses.
Works with only United States merchants.
Low volume business not accepted.
Not all terms are disclosed.
Fattmerchant offers credit card processing solutions in the form of virtual terminals, physical terminals, mobile payment processing, eCommerce shopping carts, developer API, and Omni Integrated Payment Platform. Omni is a business analytics platform that gives merchants 24/7 insights into financial reporting, payment solutions, business integrations, etc. Omni can even be linked with countertop terminals to make them “smart” so the merchant can have access to data they never had before with a basic terminal.
Fattmerchant also has the ability to instantly sync with Quickbooks. Merchants will be able to make changes to customers, invoices, and payments in one system, and it will be reflected in both Omni and Quickbooks’ platforms, thus no need for reconciliation.
Beyond products and integrations, the basic subscription to Fattmerchant gets you 24/7 customer support, online invoicing, PCI compliance support,and chargeback monitoring.
Discloses All Important Terms
No
Public Pricing Available
Somewhat
Fattmerchant has a subscription based pricing structure. Which subscription package a merchant uses is dependent on their annual processing dollar amount. See below:.
Businesses processing up to $500,000 annually:
Businesses processing over $500,000 annually:
Though it is not directly quoted on Fattmerchant’s website, there will likely be additional fees associated with use of multiple payment solutions at once (having an eCommerce solution in addition to a countertop terminal).
The subscription-based pricing style allows the cost of processing to be more predictable and stable for merchants, which is a plus. For many merchants, Fattmerchant will be a great deal, offering competitive value and service - especially when you consider the Omni platform capabilities. However, some lower-volume merchants will find that the subscription-based pricing will be more expensive than if they had gone with a more traditional pricing based on their unique volume, so this may not be the best option for those merchants.
Pricing Model
Flat Rate
Swiped Rate
6¢+ per trans. & direct cost
Keyed-in Rate
12¢+ per trans. & direct cost
Mobile Payment Rate
12¢ - 15¢
Virtual Terminal Rate
15¢
Monthly Fee
$99, $199, or other
Payment Gateway Fee
Variable depending on which gateway merchant decides to use
Batch Fee
$0
Early Termination Fee
$0
PCI Compliance Fee
$0
Equipment Lease Terms
No leasing, only buying or qualifying for a free terminal
Address Verification Service (AVS)
$0
Application Fee
$0
Account Setup Fee
None
Gateway Setup Fee
Variable depending on which gateway merchant decides to use
Annual Fee
$0
Monthly Minimum
None
Statement Fee
$0
Fattmerchant does not publicly disclose their merchant application or contract terms & conditions. though it is noted that they have no contract length.
Fattmerchant does not have contracts of any length. In general, it can be said that contract terms can vary depending on the nature of your business.
Do be sure to read the fine print on all applications and contracts to avoid hidden fees.
Contract Length
No Contract Required
Early Termination Fee
$0
Overall, Fattmerchant gets high ratings and reviews from their merchants. Fattmerchant has hundreds of mostly positive reviews on Facebook (reviews are powered by the Trustpilot website), averaging a score of 4.7 out of 5. Numerous reviewers claim to have very positive experiences with the customer service department with prompt responses to emails/calls.
However, on other websites and review forums there are several negative comments about Fattmerchant withholding deposits, misrepresenting their services, and charging fees that merchants claim they were not privy to. Due to the fact that there are a number of negative reviews circling around the same few issues, it seems these are not entirely isolated events. Additionally the BBB website reports 9 complaints against Fattmerchant. The BBB has given Fattmerchant an “F” rating based on a complaint filed against the business that was not resolved, and failure to respond to 3 other complaints.
No outstanding class-action lawsuits or FTC complaints filed against Fattmerchant could be found.
BBB
3 / 5
N/A
4.7 / 5
Yelp
N/A
Total Online Reviews
70 + 34 + 8 + 2 +32 +18 + 247 = 411
Total Online Complaints
Lawsuits
0
If you're in the market for a merchant account provider, be sure to check out our user reviews, our merchant accounts guide and our top popular merchant provider picks