Accepting credit cards is importan to the success of your eCommerce site. This Chase merchant account review contains basic information on Chase merchant accounts, fees associated with a Chase merchant account, and a little about JPMorgan Chase.

One of the most important aspects of running a business is accepting credit cards. These days, most people pay with plastic. Even if they are paying with a debit card instead of a credit card, the fact remains that some sort of plastic is involved. This means that an account meant to handle it is necessary. The type of account that allows you to accept debit and credit cards is called a merchant account.

There are many companies that provide merchant accounts. These accounts basically represent a line of credit to businesses. 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 Paymentech brand.

Chase merchant account

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.

In addition to accepting credit and debit cards, Chase Paymentech 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. Paymentech 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.

Fees associated with a Chase merchant account

Whenever you sign up for a merchant account, you will have to pay fees. There are some fees involved with the Chase Paymentech merchant account. Some of the fees involved with a 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.

There might be some other fees, depending on the package you choose. If you sign an agreement to use a merchant account for a specific period of time, you will find that there could be an early termination fee if you switch account providers early.

About Chase

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.

MERCHANT ACCOUNT GLOSSARY TERMS