Introduction
When it comes to payment processing technology, there are various options available that can be overwhelming for businesses. This post aims to provide a factual comparison between two of the most popular payment processing technology companies: JP Morgan Chase Paymentech and FIS Global.
JP Morgan Chase Paymentech
JP Morgan Chase Paymentech is a payment processing company that offers a range of payment processing services, including credit and debit card processing, gift card processing, and eCheck processing. JP Morgan Chase Paymentech serves businesses of all sizes, from small businesses to large enterprises, and processes payments in over 130 currencies worldwide.
Features
- Next-day funding
- Fraud detection and prevention tools
- Mobile payment processing
- Online payment processing
Fees
JP Morgan Chase Paymentech's fees vary depending on the services provided and the size of the business. However, some of the standard fees include:
- For credit and debit card transactions, the interchange fee is charged, which is determined by the card brand and type
- Monthly fees ranging from $25 to $75, depending on the services provided
- A minimum monthly processing fee ranging from $25 to $35
- Chargeback fees ranging from $10 to $75
FIS Global
FIS Global is a payment processing company that provides a range of payment processing services, including credit and debit card processing, mobile payments, electronic invoicing, and fraud detection and prevention tools. FIS Global serves businesses of all sizes, from small businesses to large enterprises, and processes payments in over 146 countries worldwide.
Features
- Advanced fraud detection and prevention tools
- Real-time reporting and analytics
- ACH payment processing
- Mobile payment processing
Fees
FIS Global's fees vary depending on the services provided and the size of the business. However, some of the standard fees include:
- For credit and debit card transactions, the interchange fee is charged, which is determined by the card brand and type
- Monthly fees ranging from $50 to $150, depending on the services provided
- A minimum monthly processing fee ranging from $10 to $25
- Chargeback fees ranging from $15 to $25
Comparison
When it comes to payment processing technology, both JP Morgan Chase Paymentech and FIS Global offer similar features and services. Some of the key differences between the two companies are their fees and the number of countries they operate in.
JP Morgan Chase Paymentech offers next-day funding and charges monthly fees ranging from $25 to $75, while FIS Global charges monthly fees ranging from $50 to $150. JP Morgan Chase Paymentech operates in over 130 countries, while FIS Global operates in over 146 countries.
Conclusion
In conclusion, both JP Morgan Chase Paymentech and FIS Global are reputable payment processing technology companies. The decision between the two ultimately depends on the needs of the business and the associated costs. Businesses should consider factors such as fees, service offerings, and global reach when selecting a payment processing company.
References
- JP Morgan Chase Paymentech. (n.d.). Home. Retrieved from https://www.chasepaymentech.com/
- FIS Global. (n.d.). Payment Processing. Retrieved from https://www.fisglobal.com/solutions/payments/payment-processing