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Fattmerchant review

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Its subscription-based pricing is best suited to businesses that process over $10,000 monthly.

Fattmerchant’s comprehensive sweep of services includes dedicated merchant accounts, point-of-sale (POS) systems and tools for developers. But while it offers markup-free processing rates, its subscription-based pricing model may not be a good fit for smaller businesses.

  • Choose this provider if you run a business that processes more than $10,000 monthly.
  • Consider something else if you run an online business and don’t need in-person processing support.

Details

SolutionsIn-store, Mobile, E-commerce
ProductsPayment processing, POS software, Inventory tracking
Monthly fees start at$99/month
Processing fees start at$0.08 + interchange per transaction
Contract required?No
Processing timeNext day for qualified businesses
High-risk merchants accepted?No
Best of 2020
Finder experts pick Fattmerchant as a 2020 best brand for payment processing.

Fattmerchant services

This Orlando-based processor offers a comprehensive suite of services:

  • Payment processing. Fattmerchant’s subscription-based processing model comes with flat monthly fees and markup-free interchange rates.
  • Merchant account. Onboarded businesses receive a dedicated merchant account from this direct provider.
  • POS software. Fattmerchant’s Omni software platform comes with reporting, invoicing and inventory management features.
  • POS hardware. Dejavoo terminals and BBPOS mobile card readers allow you to accept swiped, dipped and tapped payments.
  • Virtual terminal. For an added monthly fee you can send invoices and collect online payments.
  • Shopping cart. Sign up for the Auth.net plugin to offer customers the complete checkout process without ever leaving your website.

Features

Fattmerchant’s feature set comes with many of the standards you’d expect:

  • Mobile payments. Accept and process mobile payments with a card reader and Fattmerchant’s app for Android and iOS.
  • Invoicing. Customize invoices, send payment reminders and set up recurring payments.
  • Inventory management. Track inventory with low stock alerts, item categories, tax rates and set discounts.
  • Developer suite. Tap into a full Javascript library, complete with Android and iOS SDKs and Fattmerchant’s RESTful API.
  • Analytics. Compare sales trends across business locations and time of day along with custom reports reviewing payment history, inventory levels, item categories and deposits.

What is Omni?

Omni is Fattmerchant’s point-of-sale software platform, equipped with a robust variety of features:

  • Payment solutions. The Omni platform can facilitate keyed, swiped, mobile and online payments.
  • Financial reporting. Review reporting in real-time, including deposit reports and monthly processing statements.
  • Customer management. Track customer activity throughout the customer lifecycle.
  • Sales reports. Compare sales across products and services.
  • Role assignment. Assign roles and grant permissions to team members for daily tasks.
  • Dashboard. Get a birds-eye view of sales trends to identify opportunities and risks.
  • Heatmapping. Identify sales peaks throughout the day to better manage your staff.
  • Monitor growth. Track sales and inventory data month-over-month to monitor growth.
  • Company overviews. Manage multiple locations from a single dashboard.
  • Payments list. Send receipts by email or SMS text message.
  • Integrations. Integrate with thousands of third-party apps through Zapier.
  • Online review management. Respond directly to customer feedback from Google Reviews.

What hardware is available?

Process payments in-store, online or from a mobile device with a Dejavoo terminal or BBPOS mobile card reader.

Pricing and fees

Fattmerchant uses a subscription-based pricing model. This means merchants pay rates per-transaction, plus a flat monthly fee to access Fattmerchant’s core processing features. Interchange rates vary by card issuer and transaction type, but typically range between 0.05% and 2.7%, plus $0.05 to $0.22 for each transaction.

Some of Fattmerchant’s services cost extra. Its virtual terminal is $199 monthly. Its shopping cart integration, Auth.net, is $25 monthly, plus an added $0.10 for each transaction. And each day it costs $0.10 to batch credit card sales.

You can also expect to pay an added fee for Fattmerchant premium features, including: 3G network connectivity, online reviews, multilocation reporting and user roles and permissions. These features cost extra no matter which service tier you sign up for, with pricing that varies by business type and size.

Starter — up to $500,000 annually

Fattmerchant’s starter service tier offers features built into the starter tier that include payment processing, batch notifications, same-day payment data, Omni analytics and 24/7 chat, email and phone support.

  • Subscription fee. $99 monthly
  • Swiped payments. $0.08 + interchange for each transaction
  • Keyed payments. $0.15 + interchange for each transaction

Intermediate — over $500,000 annually

Fattmerchant’s intermediate service tier includes all starter features, plus a dedicated customer success manager and priority risk monitoring.

  • Subscription fee. $199 monthly
  • Swiped payments. $0.06 + interchange for each transaction
  • Keyed payments. $0.12 + interchange for each transaction

Enterprise — over $5 million annually

The Enterprise service tier includes pricing packages that are customized to each business, with priority tech support included.

Crunching the numbers: When is Fattmerchant’s subscription worth it?

It can be hard to compare prices when there are so many different ways companies charge for payment processing. To break it down, let’s look at the cost for a few businesses to use Fattmerchant and Square. We chose to compare Square, a popular option for small businesses with a middle-of-the-road, flat-rate processing fee.

In this example, we assume that each business processes a mix of credit and debit cards with an average interchange rate of 1.7%, and that all payments are either swiped, tapped or dipped — no keyed-in transactions. If a business processes more debit than credit cards, the price for Fattmerchant would be lower, but the price for Square would be the same.

Seafood restaurant: $10,000/month
Trophy icon Winner: Square

Catering business: $25,000/month
Trophy icon Winner: Fattmerchant

Retail boutique: $50,000/month
Trophy icon Winner: Fattmerchant

Marketing company: $100,000/month
Trophy icon Winner: Fattmerchant

For businesses processing less than $10,000 per month, it’s usually cheaper to choose a flat-rate processor like Square or Chase Merchant Services. But for businesses that process more than $10,000 per month, Fattmerchant may be a better option. And the more you process, the more you can save by choosing a subscription-based processor.

Pros and cons

Pros

  • Markup-free interchange. Unlike many of its competitors, Fattmerchant doesn’t pad its processing fees with markup, offering transparent wholesale rates so you know exactly what you pay per transaction.
  • No cancellation fees. You can leave at any time without penalty.
  • Integrations. Fattmerchant boasts a variety of popular e-commerce and accounting integrations, including QuickBooks, WooCommerce, ShopKeep and Shopify.
  • 24/7 support. Take advantage of round-the-clock tech support by live chat, email and phone.

Cons

  • Expensive for some businesses. Fattmerchant processing starts at $99 monthly, plus processing fees with additional costs for access to its virtual terminal and shopping cart plugin. If you process less than $10,000 per month, you may pay less with a provider that charges flat rates.
  • Limited hardware options. While it’s possible to bring your own hardware, your terminal options are limited to the Dejavoo products that Fattmerchant integrates with.

Fattmerchant reviews and complaints

As of October 2020, Fattmerchant is a well-reviewed provider. Its lack of Better Business Bureau (BBB) accreditation notwithstanding, it has only seven customer complaints to its name and a TrustScore of 4.6 out of 5 based on 468 reviews.

Customers speak well of Fattmerchant’s courteous customer service reps and competitive card processing rates. Although complaints of this provider are rare, several customers expressed disappointment with Fattmerchant’s steep monthly subscription fee.

How do I open an account with Fattmerchant?

To start the signup process, you’ll need to get in touch with a Fattmerchant rep:

  1. On Fattmerchant’s website, click Request a Savings Consultation.
  2. Enter your full name, email address, phone number, company name, company type and industry.
  3. Click Submit.

What other products will I need?

When you sign up with Fattmerchant, you’ll be asked to provide details for the following:

  • Checking account. You need a business checking account before you can begin accepting payments.

What is Fattmerchant?

Fattmerchant was founded in 2012 by Suneera Madhani in Orlando, Florida. With her guidance, the company evolved from a single-person operation to a team of over 100 people, raising $20 million in venture capital along the way. Today, Fattmerchant acts as the payment processor for thousands of businesses across the US.

How do I contact Fattmerchant support?

Fattmerchant support is available by:

  • Phone. Call 855-550-3288 weekdays from 8:30 a.m. to 5:30 p.m. EST.
  • Email. Fill out a secure online form on Fattmerchant’s website for an email response from the customer support team.
  • Live chat. Chat with a member of the Fattmerchant team weekdays from 8:30 a.m. to 5:30 p.m. EST.

Compare other payment processors

If Fattmerchant doesn’t offer the features you’re looking for, use the table below to compare other available options.

Data indicated here is updated regularly
Name Product Monthly fees start at Processing fees start at Processing time High-risk merchants accepted?
Chase Merchant Services
None
2.6% + 10¢ per swiped credit card
Next day when you deposit into a Chase business checking account
No
Accept, process and deposit customer payments in your store, online or on-the-go.
Fattmerchant
$99/month
$0.08 + interchange per transaction
Next day for qualified businesses
No
Businesses that process more than $10,000 monthly can save with Fattmerchant's interchange+ pricing.
Square
None
2.9% + 10¢
Next day
No
Square is a one-stop shop with both e-commerce and in-person solutions.
Helcim
$20/month
1.92% + $0.08 per transaction
Two business days
No
Conveniently packaged into three service tiers for in-person and online sales.
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Bottom line

Fattmerchant is a solid choice for big businesses that can take advantage of its subscription-based pricing structure. But the high cost of entry and pricey add-ons for additional software features may hurt startups and seasonal merchants.

Still weighing your options? Check out what other payment providers have to offer before you make a decision.

Frequently asked questions

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