15+ Best ONLINE CREDIT CARD PROCESSING FOR SMALL BUSINESS; Reviews

15+ Best ONLINE CREDIT CARD PROCESSING FOR SMALL BUSINESS
Photo Credit: The SMB Guide

Perhaps you’re a small business owner looking for the best online credit card processing service for small business; if so, you’re in luck, since I’m about to reveal more than 15 of them to you. Amazingly, there are free online credit card processing for small businesses and some with no or minimal monthly fee, in other words, it’s free!!. Let’s find out.

Overview

Credit card processing is the method by which a company accepts payment for goods and services. There are several parties involved in what appears to be a simple swipe, dip, or tap that takes only seconds. These parties are as follows:

A payment processor serves as a middleman, transferring funds from the card-issuing bank to the merchant account.

Payment Gateway: The method by which card data is securely transmitted through the payment processor. After that, transactions can be verified and either approved or declined. A payment gateway, either in-house or third-party, may be provided by the payment processor. After a transaction is approved, a payment processor transfers funds to a merchant account.

The processing company sends the approved transactions in batches to the appropriate banks at regular intervals, usually at the end of the business day, to initiate the transfer of funds. Once the funds are deposited into the merchant’s bank account, the transaction is complete.

Online Credit Card Processing for Small Business

Credit card processing for small businesses is critical for increasing overall sales and providing customers with convenient payment options. Unfortunately, finding a good credit card processing company can be difficult. Finding a provider that is right for your company is about more than just price. Hardware and software compatibility, flexible contract terms, and excellent customer service are also important considerations.

Finding a good online credit card processor for a small business means balancing affordable costs, reasonable contract terms, robust features, and dependable customer support to get the best overall value for a reasonable price. Overemphasis on any of these variables, particularly pricing, can be detrimental in other ways. You should also keep in mind that the best processor when you have a small business or are just getting started may not be the best choice later on. As your company grows, so does its processing volume, and so do its day-to-day requirements.

Best Online Credit Card Processing for Small Business

The best credit card processing for small businesses makes accepting payments online simple and easy. This can be done directly through a website or email payment requests.

Credit card processing services are an essential part of online and offline business transactions, and the ability to accept credit card payments could make or break your company.

For credit card processing services, there are two main options: a simple credit card processor with all fees paid per transaction, or a merchant-account solution with a monthly fee but far cheaper processing on a per-item basis.

To determine which credit card processing is best for your small business, consider where the majority of your transactions occur. Do customers shop at e-commerce sites? Do you have a physical location? Or do customers purchase both online and in-store? You’ll want a credit card processing service that is adaptable and can handle the sales growth. Furthermore, some payment processors provide industry-specific packages, such as bundles that include a POS system, scheduling tools, and inventory systems.

15 of the Best Online Credit Card Processing for Small Businesses:

#1. PayPal:

Many online businesses use PayPal because it’s easy to use. PayPal has made integration into e-commerce payment gateways simple, requiring only a few clicks and an email address. Often, the hardest part of setting up PayPal processing is copying and pasting an API key.

No setup fees increase its value to your business. If you want to accept credit card payments, investigate PayPal Checkout, PayPal Web Payments Standard, and PayPal Payments Pro.

#2. Sage

Sage payment processing integrates with Sage’s accounting software. It can be easily integrated into e-commerce platforms, like most major payment processors.

It includes powerful fraud screening tools, a plethora of security options, customizable payment pages, and a one-click check-out. We’re also impressed by My Sage Pay, which provides business analytics.

#3. Stripe

Stripe is a new credit card processor. Some may see this as a benefit: it hasn’t had to evolve legacy technologies and has instead used the latest.

A cloud-based payment system offers payment processing, fraud prevention, and business intelligence via an analytics package. Sigma calls Stripe. Stripe goes beyond online payments. It offers a Stripe terminal for in-store payments.

#4. Authorize.net

Authorize.net offers multiple platforms. All-in-One credit card processing includes a monthly fee and competitive processing fees.

Authorize.net’s merchant account gateway has a monthly fee but a lower transaction fee. You’ll be charged for a merchant account whether you use it or not.

Some of Authorize.net’s extra tools are included by default. 13 configurable IP, transaction, shipping, and velocity fraud filters are included. The latter limits daily or hourly transactions to combat high-volume fraud. Dynamic subscription billing is useful for large corporations.

#5. PaySimple

PaySimple offers a suite of products and services for small businesses. For 15 years, PaySimple has helped businesses with payment processing, automated billing, and customer marketing.

PaySimple is a practical solution for small businesses because it accepts online, in-person, and mobile payments. A free 14-day trial is worthwhile.

You get a merchant account and card reader to process payments. PaySimple is only available to U.S.-based businesses. Along with card processing, the service can set up recurring and one-time credit card payments, making automated billing schedules accessible.

#6. Helcim

Helcim is a Canadian credit card processing and merchant services company. The company has grown over the years and now processes $2.5 billion, 15 million transactions, and 6000 merchants.

Helcim’s website emphasizes transparent pricing and no hidden fees for credit card processing. Helcim has simplified its payment systems so you can get monthly processing power no matter how many cards you process.

#7. Clover

Clover offers point-of-sale products directly or through a partner. The company accepts phone, remote, and contactless payments. It’s a one-stop point-of-sale solution for all businesses.

Clover POS provides easy-to-use, powerful hardware that simply works. Pair the kit with a Clover or other merchant account. Bank of America, BBVA, Citi, PNC, SunTrust, and Wells Fargo sell Clover.

#8. Small businesses love Square.

Square is a great option for small or new businesses that only occasionally accept non-cash payments.

 Square is popular with small businesses due to its free card reader, mobile app, and simple pricing structure. Square’s pay-as-you-go billing system allows businesses to accept credit and debit cards.

#9. Host Merchant Services

Host Merchant Services offers a full range of products and services with transparent pricing despite its small size.

The business services offered by Host Merchant Services include both proprietary and third-party services. Pricing is disclosed on the company’s website, eliminating the need to negotiate when opening an account. Host’s transparent interchange-plus pricing saves most high-volume businesses money with a Clover system. Third-party features include Authorize.Net and Clover terminals and POS systems.

#10. PaymentCloud

For both high and low-risk organizations, PaymentCloud is the go-to solution.

PaymentCloud set up merchant accounts for high-risk businesses with a network of processors and banks. The company can’t place every merchant, but its success rate is higher than many competitors. PaymentCloud accepts high-risk accounts without charging application or setup fees. Like most high-risk companies, it doesn’t disclose processing rates. To compare the company’s offer to others, get a quote and negotiate.

#11. National Processing

This Fiserv reseller offers small businesses excellent service and pricing.

National Processing’s website has some of the most detailed pricing disclosures we’ve seen, including interchange-plus and membership pricing models. Specific industries have different processing rates (restaurants, in particular, make out well here). It’s a cheap option for businesses seeking a full-service merchant account with advanced features. The company’s customer service is excellent, which is rare in the payments industry.

#12. Dharma Merchant Services

Dharma Merchant Services one of the most ethical and transparent processors, offers a full range of services to small and large businesses.

 In contrast to other payment gateways, Dharma donates a portion of its profits, making it unique among credit card processors. It also gives nonprofits discounts. Our guide on nonprofit payment processing discounts has more information. Dharma offers nonprofits lower discount rates and better service than Blackbaud Merchant Services.

#13. CDGcommerce

CDGcommerce specializes in merchant account services for small and medium-sized businesses. The company offers eCommerce and retail merchant services.

CDGcommerce has transparent and flexible pricing. Flat-rate pricing with no monthly fee, interchange-plus pricing, or four membership pricing options based on monthly processing volume. The online application process allows new startups to be onboarded quickly.

#14. Payment Depot

Payment Depot is not the only provider to offer membership pricing, but its reputation for open, honest sales practices and excellent customer service puts it ahead of many of its competitors. The company has affordable monthly subscription fees, making it attractive to small businesses. Payment Depot offers month-to-month billing with no long-term contracts or early termination fees.

It’s a good option for well-established, low-risk businesses looking to save on credit card processing without sacrificing features or terms.

#15. STAX

Most businesses can benefit from using Stax by Fattmerchant, especially in eCommerce and card-not-present transactions.

Stax by Fattmerchant is one of a few companies that offer membership pricing. With this pricing model, you pay a single monthly subscription fee rather than individual service fees. In addition, there is no percentage-based markup on transactions, which can save you money if you process a lot of high-ticket sales.

Online Credit Card Processing for Small Businesses with no monthly fee 

A handful of credit card processing firms provide small businesses with minimal transaction fees and no monthly fees. This helps to aid small businesses to maximize profits realized in business, enabling them to grow and expand.

Some of the online credit card processing providers for small businesses with no monthly fee include:

i) Paypal

ii) Stripe

iii) Helcim etc.

Free Online Credit Card Processing for Small Businesses

Free credit card programs typically rely on software add-ons to detect when a credit card is used and apply the appropriate charge to the purchase price. If you use a cash discount program, you can use the same software to apply the discount to customers who pay with other methods.

The following credit card processors provide free online credit card processing for small businesses:

I) Payment Cloud

ii) Dharma Merchant Services

iii) Vizypay iv) STAX

Conclusion

Whether free, paid, or with no monthly fee, there are a few things to keep in mind when choosing an online credit card processing provider for small businesses. There are two main options: general processing and a merchant account. The distinction between the two is critical in determining which is the best option for you.

The General Processing option means that the credit card processor acts as a go-between for you and the banks. They handle all transactions and authorizations as money is transferred from the customer’s bank account to your processing account.

This is generally a good option for start-ups, small businesses, and sales of thousands rather than tens of thousands of dollars per month.

With the Merchant Account option, the credit card processor still acts as a middleman. Still, instead of handling transactions and authorizations, they transfer funds directly from the customer’s bank account to yours. This has two major advantages: lower transaction fees and no withholding of funds.

I think the 15 best online credit card processing services for small businesses was informative.

15+ Best ONLINE CREDIT CARD PROCESSING FOR SMALL BUSINESS FAQs

How do I make money processing credit cards?

One can make money processing credit cards, by partnering with a registered branch merchant and becoming a payment agent.

How much does it cost for a small business to accept credit card payments?

Credit card processing fees usually vary from 1.5% to 3.5% of the total transaction amount. 5 For a $100 sale, that means credit card processing fees could range from $1.50 to $3.50. These charges can be extremely expensive for a small business.

What is the best payment processor for a small business?

The best payment processors for a small business include Clover, stripe, Paypal, Square, etc.

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