Fattmerchant was founded in 2014 and is based in Orlando, Florida. Fattmerchant provides transparent pricing and technologically advanced solutions with the goal of empowering their merchant partners. Between their solutions offered, great reviews from merchants and a solid A- BBB rating, they are one of the top choices at iDeal Comparison.
“I am a first-time business owner. I have been very pleased with how easy it is to use our credit card terminal. I have received outstanding customer service from Fattmerchant. This company has helped reduce the much of the stress that comes with starting my own business. I highly recommend them.” -Zachary, MT
Fattmerchant offers its credit card processing services through a subscription model, an uncommon but welcome structure for business of any size. Although pricing will be expanded on further in its own section, it’s important to note that they offer two tiers for merchants dependent on annual payment processing. The second tier kicking in at $500,000 per year in payment processing.
Fattmerchant’s plans both come with a personal merchant account and access to the Omni analytics platform without the additional fees that are often seen with most credit card processing companies.
Merchants can also choose to add on processing services and solutions “a la carte”, which include EMV terminal, mobile, virtual terminal, shopping cart, third-party integrations and Developer API. We’ve detailed each of these, along with other features from Fattmerchant, in the drop downs below.
One of the major draws of Fattmerchant is its Omni platform, which is included with all of its subscription solutions. Omni is the centerpiece of Fattmerchant’s processing. Each merchant is provided an Omni account with customizable options for payments, invoicing, and reporting specific to their needs.
In our demo with Fattmerchant, we were able to see the Omni platform in action. Transaction breakdowns are able to be viewed by week, month, peak transaction times, and by new and returning customers. Merchants can invoice customers directly from the platform and use either preloaded fields or custom invoicing fields. Monthly memberships, discounts, and other functionalities allow merchants to have greater control and specificity for their business.
Once invoices and payments are made, they’re tokenized directly into Omni. Invoices and receipts can be sent via email or text. For merchants with more than one processing solution, their Omni platform has the option to both “toggle” between the separate solutions as well as view the combined information. Merchants can view their Omni info both on desktop and the app, receiving updates in realtime.
The Omni platform also offers the options for apps, canned and custom reporting, and easy online payment and purchasing integration. And with the two-way Quickbooks integration (more on that below), Fattmerchant’s Omni platform provides a technological advantage that many merchants want, and need, to elevate their business.
Fattmerchant makes life simple for merchants by enabling two-way sync with Quickbooks and the Omni platform. This feature is wholly unique to Fattmerchant, and for companies already utilizing Quickbooks for their accounting, this feature is a game-changer. Omni and Quickbooks sync in real time; any invoice or payment made in one platform is immediately populated in the other.
Merchants can generate an invoice in Quickbooks, which will then send out directly from the Omni platform. A payment made in that invoice would then balance in both Omni and Quickbooks. And if a merchant prefers creating an invoice in the Omni platform, that invoice will immediately populate in Quickbooks, and will show as paid once payment comes in.
This two-way sync may not sound like a huge deal, but in reality, it saves merchants both time and money. Quickbooks charges an invoicing fee each time one is sent, but with the integration with Omni, that fee is bypassed completely. And because there is two-way sync, no manual entries need to be made by the merchant at any point concerning payments from customers. Other companies only offer one-way sync, meaning that both manual entries must be made and real-time updates aren’t possible.
The Quickbooks-Omni integration is unique, and its bilateral, real-time syncing can be accessed anywhere, giving merchants the ability to view their financial data and payment info at any moment. This is certainly a draw, particularly for merchants already using Quickbooks.
EMV terminal processing is exactly what it says it is: services for in-person, brick-and-mortar payments. Fattmerchant terminal processing includes swipe, chip, and tap payments for both credit cards and mobile payment apps such as Apple Pay and Google Pay.
Fattmerchant partners with Dejavoo, a company out of New York that produces advanced terminals. These terminals come with WiFi compatibility and can be customized to include business-specific printing and logos. Merchants can purchase countertop Dejavoo terminals outright, or lease them monthly for a small fee that includes repairs and upgrades. Preexisting POS systems are able to be incorporated seamlessly with the help of what Fattmerchant describes as a “dedicated implementation team”, taking the guesswork of integration out.
Merchants who do business on the go greatly benefit from Fattmerchant’s mobile processing services. Whether through the iOS or Android app, merchants can easily accept and track payments through their phone or tablet. Customers are able to pay through Bluetooth readers, key-in numbers, or photo scanning, and merchants can track both card and cash payments through the Omni app (more on Omni below). Other features to enhance merchants’ businesses include inventory tracking, barcode scanning, creation of invoices, and paperless receipts.
Fattmerchant offers virtual terminal processing for merchants who often find themselves keying in card numbers or taking card info over the phone. With the virtual terminal, merchants can send one-time or recurring invoices, text payments, and the ability to swipe with a countertop terminal if needed. Virtual processing also helps merchants organize customer info, monitor sales and cash payments, and automatically sync with Quickbooks, all while providing secure, PCI compliant processing.
Fattmerchant’s E-Commerce Shopping Cart processing solution offers a secure online payment system that seamlessly flows with a business’s online store. Merchants can add onto a preexisting shopping cart system, choose a pre-designed template, or customize a new one to fit their needs. Shopping Cart includes fraud protection, address verification, and automatic batch times to ease the process for customers and merchants alike. Keep in mind this is both different and more sophisticated than the aforementioned virtual terminal, and is targeted to serve businesses with an e-commerce presence.
The API solution offered by Fattmerchant gives complete control and customization over payment processing. Merchants receive documentation from Fattmerchant, and from there they can accommodate their unique processing needs using their own developers. They can also take advantage of both card present and card not present functionalities, and are able to utilize other solutions, including varying payment methods and general management of payments and inventory.
|High-Risk Merchants Accepted|
|Offers Customizable Business Solutions|
As mentioned briefly above, Fattmerchant uses subscription-based pricing in conjunction with an interchange plus model. The two subscription tiers depend solely on the volume of payments processed annually. Merchants processing less than $500,000/year pay $99 a month (Starter), and those processing over $500,000 a year (Enterprise) pay $199 a month.
The subscription includes fees that would typically be charged by other credit card processing companies, such as PCI compliance fees, monthly statement fees, and batch fees. It also provides access to the aforementioned Omni platform, giving merchants the ability to better manage their payments, compile a customer database, and use other reporting features such as inventory and basic financial data.
After the subscription fee, merchants will simply pay the interchange fee plus a flat transaction fee ranging from $0.06 to $0.15 per transaction. The beauty of this arrangement is that unlike many credit card processing companies, Fattmerchant has a 0% mark up on interchange plus fees. Because of the subscription fee, merchants will ultimately receive a volume discount as they process more payments.
It’s important to note that merchants who’d like to take advantage of more than one of Fattmerchant’s solutions will need to pay an additional subscription fee for each solution added. This can add up, especially for smaller merchants with low processing volume. But for many merchants, Fattmerchant’s pricing structure is both simple and rewarding, saving them hundreds to thousands of dollars on confusing fee structures and pricing markups.
Other integrations and extras are additional monthly costs that need to be considered when pricing out Fattmerchant’s services. While it does save invoicing fees, the Quickbooks integration costs an additional $39/mo. Additional features such as same-day funding and their chargeback dispute manager are $29/mo and $25/mo, respectively. Their Dejavoo terminals can either be purchased outright for $250 or leased for $10/mo, which includes repairs and upgrades.
And for those who aren’t happy with the solutions offered or pricing model, Fattmerchant offers month-to-month contracts rather than locking merchants in for two to three years, with no cancellation fees. This is extremely atypical amongst its competitors, and speaks volumes to how Fattmerchant both values business owners and stands behind their credit card processing service.
|Fattmerchant Fees||Processing less than $500,000/yr||Processing more than $500,000/yr|
|Monthly Subsciption Fee||$99||$199|
|Swipe: Interchange Plus Fee (per transaction)||$0.08||$0.06|
|Keyed-In: Interchange Plus Fee (per transaction)||$0.15||$0.12|
|PCI Compliance Fee||$0||$0|
|Monthly Statement Fee||$0||$0|
|Monthly Minimum Processing Fee||$0||$0|
|Monthly Gateway Fee||$0||$0|
“We began with Fattmerchant several years ago when they were relatively new. From the beginning, they were very responsive and caring in response to all of our questions, and went out of their way to meet our need for individualized processing. The low fees are another fabulous aspect of their service. The flat-rate fees are lower than the competition, measured by practically any means, (we did our research). We have been so pleased with our switch to Fattmerchant.” Katie, VA
Fattmerchant has the excellent reputation necessary to back their credit card processing services. Their exemplary customer service, assurance of secure transactions and processing, and reviews from both professional sites and merchants alike bolster their image and provide confidence in their merchant services.
Fattmerchant provides an all-encompassing customer service experience. They offer 24/7 support via online chat, email, and phone. They also provide a comprehensive online database that gives merchants quick answers to regularly-asked questions. Every merchant, regardless of size, is supported by a dedicated account manager experienced in their specific industry. And each merchant is provided a custom demo specific to their business and its needs before they partner with Fattmerchant.
One of the major concerns of any company is the security of both their customers’ data and their own. Fattmerchant is not only PCI compliant, but is considered Level 1, processing over 6 million transactions annually. While only larger processors receive priority risk monitoring with their subscription, all Fattmerchant partners offer tokenized and encrypted customer data to better protect consumers and merchants alike.
The reviews of Fattmerchant are nothing short of glowing. Their BBB is an A-, with few filed customer complaints. Other reputable review sites have spoken highly of Fattmerchant, and reviews from merchants are equally exceptional, as reflected by their Trustpilot rating of 9.2/10. Fattmerchant also has an NPS score of 73, which indicates that their partners are not only beyond pleased with their services, but are readily recommending them to others.
Even though they’re rather new, Fattmerchant has quickly established a reputation of honesty, transparency, and excellent processing services. Their goal is to not simply process payments, but be allies to their merchants and empower them to grow and thrive. We at iDeal Comparison see that Fattmerchant is accomplishing that goal, and recognize them as a top player amongst merchant credit card processing companies.
|Customer Service Number||407-982-1782|