Chase Payment Solutions offers small-business owners payment processing with a familiar name. But alternatives, such as Square and Clover, offer more transparency when it comes to POS software and hardware pricing.
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Chase Chase Payment Solutions℠
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Get $100 off the Chase Point of Sale (POS)℠ Terminal. What is Chase Payment Solutions?
Chase Payment Solutions is a payments processor and an acquiring bank in merchant transactions. These kinds of providers — often called direct processors — offer small businesses a two-in-one experience that can streamline the steps toward successfully getting paid.
Chase Payment Solutions pricing
Payment processing fees
- 2.6% plus 10 cents for in-person transactions.
- 2.9% plus 25 cents for online transactions.
- 3.5% plus 10 cents for keyed transactions and invoicing.
Monthly fees
- $0 per month for in-person payments.
- $9.95 per month and up for e-commerce payments.
Hardware cost
- $129 for Chase Card Reader and Base bundle.
- $399 for Chase Countertop Terminal.
- $499 for Chase Wireless Terminal.
- $499 for Chase POS Terminal.
Integrations
Chase Payment Solutions integrates with popular platforms, including:
- Authorize.net.
- Silver Essentials by NCR Voyix.
Advantages of Chase Payment Solutions
Big name
Chase is a global brand that also offers business credit cards, business lending and other services. That can be an advantage for small-business owners who don’t want to juggle a bunch of financial relationships.
Two-in-one processor and acquiring bank
Most payment processing systems have to connect with a separate acquiring bank during each transaction. But because Chase is both a payment processor and an acquiring bank, there will be fewer handoffs. This can result in quicker, more streamlined payouts.
Disadvantages of Chase Payment Solutions
Unclear pricing
Chase Payment Solutions posts its transaction fees on its website, but there is still a lack of transparency on some of its NCR Silver POS options. You may need to speak to a payment specialist for pricing details.
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Alternatives to Chase Payment Solutions
Square
Pricing:
- 2.6% plus 15 cents for in-person transactions with Free plan.
- 3.3% plus 30 cents for online transactions with Free plan.
- 2.5% plus 15 cents for in-person transactions with Plus plan.
- 2.4% plus 15 cents for in-person transaction with Premium plan.
- 2.9% plus 30 cents for online transactions with Plus and Premium plans.
- 3.5% plus 15 cents for manually keyed transactions.
Why we like it: Square's POS system is a solid option for businesses just getting started. That's because it has a free POS software plan and competitively priced hardware options. Its free plan includes an online site, basic reporting, invoicing and online support. Read our full Square POS review.
Clover
Pricing:
- 2.3% plus 10 cents for in-person transactions on Full-Service and Quick-Service Restaurant plans.
- 2.5% plus 10 cents for in-person transactions on all Retail plans, Professional Services Standard and Advanced plans, all Personal Services plans and the Home and Field Services Advanced plan.
- 2.6% plus 10 cents for in-person transactions on the Home and Field Services Standard plan.
- 3.5% plus 10 cents for online or keyed-in transactions.
Why we like it: Clover has specific POS plans for specific types of businesses, including quick-service restaurants, full-service restaurants, retail, personal services and professional services. It also has a wide array of hardware options and clearly displays pricing on its site. Read our full Clover POS review.
PayPal
Pricing:
- 2.29% plus 9 cents for in-person and QR code transactions.
- 3.49% plus 9 cents for manual-entry card transactions.
- 2.99% plus 49 cents for invoicing (payment made with card).
- 3.49% plus 49 cents for invoicing (payment made with PayPal).
Why we like it: PayPal is a trusted name in the payments industry and can accommodate both online and in-person transactions. PayPal POS has especially competitive in-person transaction rates. There are multiple options for accepting transactions online, too. The company also lets you accept QR code and Venmo payments. Read our full PayPal Business review.
A version of this article was first published on Fundera, a subsidiary of NerdWallet.
