credit card processing for small business

What is the best credit card processing for small business? (2020 Updated)

It is about choosing the best company credit card processing can be overwhelming. This is especially true when you are a new owner of a small company that has never heard of a “merchant account” before – but the truth is that even experienced CEOs can get dizzy while researching the Payments processing industry. (Trust us, we’ve talked to them.) There are so many processing companies, everyone seems to be doing more or less the same, and they all have both glowing testimonials and terrible complaints. How am I supposed to choose the best company in these circumstances? Who do you trust?

We understand. We have been reviewing companies processing credit cards for years. We heard dozens of small business owners every day all trying to answer the same question: “What business services solution is best for my business?” And our answer is always the same: “It depends.”

There is no simple answer to this question. But over the years we have found that there are some good guidelines to follow, and by using these guidelines we created this short list of the best companies processing credit cards small business, whittling down the field of providers a manageable number. Some of these payment processors are good for e-commerce through its website, other for mobile payments on your smartphone, other retail Pos systems machines with a credit card order by phone with a virtual terminal for major operations for iPad POS, high-risk companies. (I told you, it depends.) But all that follow some simple rules we live, which we’ll discuss in detail later.

The best companies processing credit cards for small businesses

Here’s a quick look at our list of companies processing credit card highest ranking for small businesses. (They are excellent for medium and large companies as well, for the record.) Scroll down for in-depth discussion.

How to choose the best company credit card processing

We have four simple rules for choosing a high-quality company to accept credit and debit card payment. We followed them closely to make our list of the best credit card processors. You can use them in your search as well.

Rule 1: Transparency is the best policy

For any credit card processor to be on our list of recommendations, there can be no hidden charges and no surprises. Why we insist that our suppliers of outstanding trade accounts use a pricing system that separates wholesale cost dial (exchange-plus, also known as pricing “transfer”). Exchange rates are set by the credit card brands (Visa and Mastercard) and above all are the same for all credit card processors. It is the profit margin that really matters here. In addition to using this model cost-plus pricing, all our best options make payment revelations depth upfront. All of our top-rated companies processing also equals or exceeds its current rate if it is less than its selling price. And all new businesses are guaranteed a fair rate starting thanks to the revelations of public standardized rates.

Rule 2: No pressure, no commitment

Sales tactics do not tolerate high pressure or long-term commitments. Some vendors say anything to get you to sign the dotted line – and then required to pay hundreds or thousands of dollars when the company is not up to their promises. We only recommend companies that employ honest, friendly sales representatives and offer service without long-term contractual commitments. You should be able to accept credit cards without making a deal with the devil.

Rule 3: Look for value and savings

Some companies processing credit cards only give barebones service, but they do at rock bottom prices. Others charge a little more but provide valuable software as a service. What is best for you? That depends on your budget and your desires/needs. The card processor cheaper credit is not always the best. Similarly, you do not always get what you pay for. It is important to determine the value of a merchant account for your particular business needs. The issue of processing fees credit card is too broad to be covered completely in this post, but if you are interested we have a resource in-depth that explains everything you could ever want to know about rates card processing payment and fees.

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Rule 4: Reputation matters

Carefully consider every complaint that we find to find out what went wrong. then we weigh these findings with the number of companies processing services for credit card companies to make decisions about what we feel comfortable recommending. Our merchant account providers first category have extremely low count complaint and numerous independent reviews validating best practices. A proven track record of satisfaction is essential for us.

That’s not much to ask, right? We do not think so and never settle for less.

If you just take Card Square?

If you have done much to read (or purchase) recently it has certainly come through square payments. I said earlier that “the solution of commercial services What is best for my business?” It’s the most common question we receive. Well, after that, it is “Should I use Square?” The simple answer is that if you process small transactions ($ maybe 15 or less on average), is processed only a couple of thousand dollars a month, or just absolutely, positively do not want to pay any monthly fee, then you really need at least give some consideration Square. For many small business owners, especially in the foodservice business retail or small, is excellent given the low cost and high-quality software value. Larger companies, however, they can expect to save hundreds or thousands of dollars each month by not using Square. So, again, it depends.

Do you have space to offer the best credit card machines for your business?

There are positive and negative aspects of the use of hardware processing credit card for small businesses Square. While the reader Swipe Square is free and Bluetooth payment terminal is only $ 49, none of these devices can perform all the functions that a traditional countertop credit card machine cans.

Still cannot decide? Check out our in-depth post on why the square may or may not be the best way for your business to accept credit card payments. You can always try both. Since none of the leading providers of trading services that lock into long-term contracts, it is safe to try it for a few months without much commitment. If you’re set on getting a choice of Square-like but feel skeptical of the plaza as a company, we have a post dedicated to Square alternatives for you to consider.

Choosing the best processor of credit card

Superlative claims are difficult to make such a big industry, but we really believe that these trade service providers are the best around, especially when it comes to creating accounts online and by phone. Each has excellent products, services, marketing, sales and practices. Take a look and see what you think.

Payment Depot is a merchant account provider based in Orange, California. The company has been in business since 2013 and is best known for its use of subscription-based pricing or membership, a spinoff of the exchange-plus model. While it is not the only vendor in the industry to offer such pricing, a reputation deposit payment for sales practices, the honest, open and excellent customer put ahead of many competitors using this relatively new pricing model.

So how does it work? Most providers that offer more exchange prices charged “+” marking exchange rates, with the profit margin that includes both a small percentage of the sale and transaction tax. Also, it incurs various monthly and annual fees for an individual, such as PCI compliance services and statements. On the contrary, the deposit payment model combines all your monthly payments into a single monthly subscription of $ 49.00 to $ 199.00 per month depending on the plan you choose. You also need to pay the lowest processing rates, with the elimination of percent profit margin. Your rates will be the rate of exchange, plus a transaction fee ranging between $ 0.15 and $ 0.05 per transaction, depending on your price plan.

Payment Business Services Depot reviews

Depot payment accounts are month to month, but can also save money on subscription fees through the annual payment instead of monthly. Annual subscriptions are protected with a satisfaction guarantee of 90 days so that traders who are not satisfied with their service within the first 90 days of your membership fee will be refunded (not interchange fees or transaction fees, of course ). This is a fair, reasonable offer and should give you some peace of mind.

For more information about the company, contact them now or visit our Payment Depot deep opinion.

We like Fattmerchant (see review) for each type of business, but really shines for e-commerce merchants and the card is not present. One of our favorite things about this company is its subscription pricing model. With this fee structure, you have a mark of 0% up next to a small transaction fee ($ 0.08 – $ 0.15) and a larger monthly fee ($ 99). Do not let the monthly fee is discouraged. The truth is that the mark of 0% to smaller companies saves so much money that paid for the monthly fee. This is especially true for e-commerce and other businesses not a present card because Fattmerchant does not charge an inflated mark-up on these accounts. Almost all commercial service providers, including our favorite, companies charge a lot more for telephone sales and electronic commerce. Because you do not pay a percent sign up volume processing, saving more as they process more. This is exactly how the marking process had something to work in our opinion it works.

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Still, it not convinced that worth? Well, Fattmerchant adds even more value to your account billing tools of high quality and billing, customer management, virtual terminal, POS application, inventory management, detailed analysis reports, and more. It is a growth platform that is constantly improving and adding new features, so the value obtained from the service will only grow with time. Even now, Fattmerchant tools offer rival offers the increasingly popular square payments service. billing and invoicing tools Fattmerchant is the stand-out of this service solution.

So if you are standard retail business, an online store, a business selling phone, a provider of professional services, or almost any other vendor, Fattmerchant is recommended as a good place to start your search. It is our all-in-one payment processor choice due to its versatility, predictability, reliability, and value for a wide range of business types.

dharma merchant services (see review) takes its name from the term dharma, which is found in several Eastern religions. While it may mean many different things and there is no direct translation, which more or less refers to a “right way to live.” The Dharma people take this seriously, offering a full range of card processing credit for a fair and reasonable price along some of the most in-depth and accurate educational materials we’ve ever seen. Their fee structure is transparent – the pricing of exchange-plus is used exclusively, and no annual fees. This includes pricing transactions OptBlue to accept American Express. Also, no setup fees account, fees are charged for early cancellation, or have a monthly minimum. Fees to be paid (including PCI compliance fees) are fully disclosed on its website.

Dharma is unique in the world of business processing credit cards that donate a significant percentage of their profits to charity, lived up to its motto “Trade with compassion.” In this connection, the Dharma offers discounts special for non-profit companies. Our guide for payment processing discounts nonprofit has more information for charities looking to save money on credit card acceptance. While many believe that CSOs get the best rates with specialist software such as Blackbaud Merchant Services, Dharma offers much lower rates and better service. Nonprofit organizations that accept credit card Dharma pay a profit margin of only about $ 0.10 + 0.20% set for payments in person.

Payline data (see review) covers all bases for small business transactions, from mobile payments and in line with sales in stores. Plans offer easy to understand that prices are very affordable, especially for low-volume sellers. However, the website of the company fully explains all the additional features and their associated costs, so you know in advance what you will pay. Payline also stands out from the crowd by its corporate philosophy of charitable donations and support to non-profit organizations through pricing, discounts, its “Commercial Co-Venture” program.

The company offers four standard price plans, all with pricing and exchange-plus come with the hardware and free software so you can start running in no time. A standard feature of the four plans is a virtual terminal that allows you to process credit card transactions from any computer connected to the Internet. Transactions can be coded manually or swiped with a reader optional USB card. All plans also include billing month without long-term contracts and no early termination fees. These are big words, but note that these plans also come with a monthly minimum of $ 25.00. (As a point of comparison, this means that the pay line is much less expensive than the square,

For the flamboyant and mobile companies, pay lines Start is the most affordable plan. No monthly fee, and tagging rates passthrough fixed at 0.30% + $ 0.10 per transaction. In addition to a free virtual terminal, you also receive a free GX5 Ingenico card reader and line mobile payment application to go with it. If you are looking for value, but they want better equipment and lower rates, the plan Payline The store could be right for you. This plan includes the same features as the plan Payline start but slows down processing. The plan costs $ 10 per month, and tagging rates 0.20% was set at + $ 0.10 per transaction. mobile businesses and small to medium retailers, the main beneficiaries of this plan.

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Payline also offers accounts to high-risk merchants through partner banks that specialize in hard to place accounts. Our shortlist of the best options for payment processing solutions high risk may help make some comparisons if you are having trouble getting approved for a merchant account.

Another of our preferred suppliers, CDGcommerce (see review) has existed since 1998 – long enough to have figured out what it takes to run a successful business processing and keeping customers happy. CDG stands out from the crowd not to charge any of the nickel and dime hidden costs that most other companies in the industry are known, in addition to managing add significant value to your account with a variety of free products and services. CDG merchant accounts come with no additional costs account without PCI compliance costs, no monthly minimums, and billing month without charge for early cancellation.

A basic merchant account CDGcommerce costs only $ 10.00 per month and includes free access to the payment gateway Quantum / virtual terminal (free entry door Authorize.Net is also available as an option). While usually highly recommended buying their credit card terminals flat instead of renting them, we made an exception for CDG. Instead of what is immobilized on one side, four-year contract, CDG only charges $ 79 per year (which works out to $ 7 per month) for the secure terminal. This is much better than a standard lease agreement terminal that can end up costing thousands of dollars over the term of the lease. So,

CDG also offers very competitive processing speeds. All prices advanced more is the exchange and disclosed on its website. Swiped retail and mobile business see a rate of 0.25 standard markup% + $ 0.10 per transaction, while online and other card not present businesses pay 0.30% + $ 0.15 per transaction. Rates are negotiable for companies largest and CGD will meet or exceed its current rate to earn your business.

All in One on a budget: the square in front Shopify

Finally, no review of small business credit card processing for small business would be complete without a look at most all-in-one processors out there. For us, that means the square payments and Shopify. One could make an argument for PayPal to be included in this comparison but lacks some basic features that offer Square and Shopify. And while Stripe and Braintree are certainly important names, the two (like PayPal) are really designed primarily for Web developers and companies who want to create customized solutions. On this side by side comparison, you look at both features and prices Square and Shopify to help you make the best decision regarding value for your business.

Square was the first company to offer mobile payments based on smartphones when it launched in 2009. Today, it has plenty of competitors, but its lack of a monthly fee, transaction fees reasonable and robust features still make it is a great option, especially for low-volume sellers. Plaza replaces the traditional credit card terminal with a card reader simple credit that connects to your smartphone or tablet and works in conjunction with the Square mobile app to process credit cards or debit cards. (Check out our post on the best credit card readers for small businesses to make comparisons.) Plaza is compatible with outlets, electronic commerce, and (naturally) mobile payments.

Shopify has a very similar to the square, but with more of an emphasis on online sales offer. While most businesses on a budget can get by with construction tools online store that offers the plaza, those who need more features and great control a much more powerful solution is Shopify. These companies pay a larger monthly fee is also blocked, but remember that always triumphs only high-value low cost.

Unfortunately, one of the disadvantages in the use of the square or payments Shopify is that the stability problems for high-risk companies or brand new business with no history of processing occur at a rate that is well above the average sector. This often results in mind, sudden unexplained endings and account hold up to 180 days. There are several reasons for this, but one important factor is that square accounts are added together (aka, payments to third parties) instead of each account has its own unique identification number of the trader. To make matters worse, a telephone-based customer of these companies has not always been the best.

Many companies are considering Shopify Square and are looking for the cheapest option available. If this describes you, take a look at our guide services card processing credit cheaper. Square is often – but not always – the best choice. Note that some low-cost options are too good to be true, as outlined in our in-depth look at the so-called free companies processing credit card payments.

A complete list of Credit Card Processing We recommend

  1. Fattmerchant – processing all-in-one
  2. Dharma Merchant Services – processing large volumes
  3. The Merchant Solutions – POS processing Full-function / processing all-in-one
  4. Payline data – processing low-cost
  5. National Processing – ACH payment processing
  6. Payment Depot – merchants Big Ticket
  7. Squares payments – Free credit card processing
  8. CDGcommerce – e-commerce payments
  9. Payments Shopify eCommerce – Low-cost
  10. The ShopKeep payments – POS processing Full-function
  11. Durango Merchant Services – high risk merchant accounts
  12. SMB Global – international trade accounts
  13. Soar Payments – processing means risk
  14. Host Merchant Services – Processing high risk


Digital Marketing Team Lead, Expertise in Google Ads, SEO, SMM, YouTube Marketing. Founder of My Projects: Carpet Cleaners Wellington, Carpet Cleaners Tauranga

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