Best B2B Payment Solutions for Small Businesses in 2022
Meaghan has provided content and guidance for indie retailers as the editor for a number of retail publications and a speaker at trade shows. She is Fit Small Business’s authority on retail and ecommerce.
Anna’s experience in business and finance led her to work for a US risk mitigation company in Singapore. She has contributed to POS and payments topics in the Retail section across Fit Small Business.
This article is part of a larger series on Payments.
A dedicated B2B payment solution allows qualifying merchants to receive significantly lower processing fees and discounts for high-volume transactions typical of a business account. Aside from low, competitive rates, B2B businesses also need payment solutions that handle big-ticket sales, invoicing, and various payment types. We give you a rundown of top payment processors with the best offers for B2B payments.
The best B2B payment solutions are:
- Stripe: Best overall B2B payment solution for online transactions
- QuickBooks Payments: Best for QuickBooks users or businesses that need accounting software and the ability to handle recurring payments or invoicing
- Square Payments: Best for businesses needing a strong POS system such as wholesalers or those with B2C and B2B transactions
- PayPal: Best for small companies doing international business online and needing in-person credit card processing
- PaymentCloud: Best for merchants in high-risk businesses, like those selling CBD or firearms and startups
- National Processing: Best for businesses accepting a large volume of ACH payments
- Dharma Merchant Services: Best for high-volume businesses accepting international payments
- Wise: Best for small businesses that only need to accept international payments
Top B2B Payment Solutions Compared
Payment Types | Deposit Speed | Works with High-risk Businesses | |
|---|---|---|---|
Wire transfers, Paper checks, ACH /e-check, Online card payments, International money transfers | 2 business days | ✕ | |
Wire transfers, Paper checks, ACH /e-check, Card payments | Next day or instant with 1% fee | ✕ | |
Paper checks, ACH/e-check, Card payments, International money transfers | Standard next day or same day, instant w/ fee | ✕ | |
ACH/e-check, Card payments, International money transfers | Next day or instant through your PayPal account | Case-by-case basis | |
ACH/e-check, Card payments | Next day | ✔ | |
ACH/e-check, Card payments | Standard next day or same day with fee | ✔ | |
ACH/e-check, Card payments, International money transfers | Next day | ✕ | |
Wire transfers, ACH/e-check, International money transfers | Next day 1-3 working days for local, 4-5 working days for international transfers | ✕ |
How We Evaluated B2B Payment Solutions
We searched for merchant services that offer affordable payment processing with transparent fees and minimal contracts. Then, we narrowed our evaluation down to eight of the most affordable and reputable payment processors and considered the different types of payments each solution can accommodate.
For example, many B2B businesses accept payments via invoice, card-not-present, e-check, and automated clearing house (ACH) instead of a traditional payment terminal or online checkout. So, we prioritized processors that can handle those types of payments and awarded extra points for those that include invoicing or recurring payment software.
We also favored solutions that offer interchange-plus rates for Level 2 and Level 3 processors and processors that offer negotiable rates for high-volume businesses. Next, we looked for specific use cases like high-risk businesses. Finally, we considered real user reviews and ease of use.
At the end of our evaluation, Stripe came out on top as the best B2B payment solution for small businesses because of its price point, variety of payment types, and breadth of features. It also works for both international and domestic businesses. Overall, Stripe earned a 4.43 out of 5.
Click through the tabs below for our specific evaluation criteria:
20%
Pricing
40%
Payment Features
25%
General Features
15%
Expert Score
20% of Overall Score
We gave the most points to payment processors that did not require contracts or monthly fees and did not have cancellation fees.
40% of Overall Score
We assessed whether each solution can process wire transfer, check, e-check, ACH, virtual terminal, payment gateway, and international money transfer payments.
25% of Overall Score
Here, we considered support hours, deposit speed, invoicing and accounting tools, and whether or not high-risk businesses could use the payment service.
15% of Overall Score
This combined our overall evaluation of price and ease of use with scores from real-world users on trusted third-party review sites.
*Percentages of overall score
Stripe: Best Overall B2B Payment Solution for Online Businesses
Stripe
Overall Score: 4.43 OUT OF 5 iOur score is based on a weighted evaluation of dozens of similar products and services conducted by our experts.
What We Like
- 135+ currencies
- 450+ integrations
- Handles recurring payments, invoicing
What's Missing
- Complex setup and learning curve for using the platform
- Charges extra for fast deposits into your account
- Does not serve high-risk businesses
Stripe Pricing
- In-person transaction: 2.9% + 30 cents
- POS transactions: 2.7% + 5 cents
- Recurring payments/billing: from 0.5% – 0.8%
- Invoicing: from $0 – 0.5%
- Paper checks: $5 per check received, $15 per returned checks
- Domestic Wire Transfers: $8
- Domestic debit ACH transfers: 0.8%, $5 cap
- Domestic credit ACH: $1 per ACH credit payment
- International transactions: 1% + 30 cents, additional 1% for currency conversion
- Chargeback: $15
- Hardware: Start at $59
Stripe is an international payment processor that can take payments as small as 50 cents and as large as $999,999.99, making it a good choice for B2B businesses. It offers the widest range of payment processing solutions among all the providers in our list, with both in-person and remote payment processing, and allows you to accept domestic and international payments through wire transfers, ACH/e-checks, and cards.
Stripe’s strength lies in its versatility, although you may pay a little more for some features. You can integrate Stripe into your POS or webpage or build your own solution with Stripe (higher fees may apply). With over 450 integrations, some of which are specific for B2B merchants, you can link Stripe into your accounting software, POS, customer relationship management software, and more.
It earned our highest score—4.43 out of 5 stars—because it’s highly regarded, offers a variety of payment types, and even processes paper check payments. Meanwhile, Stripe lost a few points for its pricing complexity and because it does not serve high-risk businesses; while its pricing system is clear, there are a lot of add-ons for specific tools, like fraud protection. Also, Stripe deposits funds in two days unless you pay an extra fee for faster deposits.
Stripe Features
- Accepts local and international payments with customer support for more than 25 countries
- Includes built-in tools to create embeddable checkout forms and invoicing templates
- Provides real-time and unified reporting tools, including deposit tracking and integration with accounting software like QuickBooks and NetSuite
- Provides you with the option to track payouts and control payout times when depositing to your bank account
- Includes programmable, automatic dispute handling, with tools to submit documents to card network directly from the Stripe platform
- Allows you to manage your business operations with a unified dashboard, accessible from any iOS and Android device
- Offers 24/7 customer support including technical support on Discord platform
What Stripe Is Missing
Unfortunately, Stripe’s versatile payment solutions are not available to high-risk businesses. However, its website advertises that it also offers custom pricing for those with a “unique business model,” so it won’t hurt to reach out to Stripe’s sales team to inquire. Otherwise, consider PaymentCloud for your high-risk merchant account.
QuickBooks Payments: Best for QuickBooks Users and Recurring Payments
QuickBooks Payments
Overall Score: 4.12 OUT OF 5 iOur score is based on a weighted evaluation of dozens of similar products and services conducted by our experts.
What We Like
- Native integration with QuickBooks
- Invoicing and recurring billing
- ACH and e-check processing
What's Missing
- No phone customer support
- Must have a QuickBooks Online account
- Does not support international money transfers and high-risk businesses
QuickBooks Payments Pricing*
- ACH transfers: 1% (max $10)
- Swiped-card transactions: 2.4% + 25 cents
- Invoices: 2.9% + 25 cents
- Keyed-in transactions: 3.4% + 25 cents
- Instant access to funds: 1%
*Requires a QuickBooks Online account, costs start from $12.50 per month
QuickBooks offers a payment processing function with strong features and good rates for those already using QuickBooks Online. It has slightly lower processing fees for keyed-in and invoiced payments compared to Square and PayPal which both charge 3.5% + 15 cents for keyed, and 2.9% + 30 cents for invoice transactions. Also, if you regularly process over $7,500 a month, you can apply for a discount on transactions of up to 40%.
QuickBooks Payments connects to your QuickBooks account, so you get the features of the complete accounting software, including invoicing, reports, budget tools, and sales tax tracking. You can accept payments online or in person using a mobile device or by sending invoices. It also integrates with many POS and business management systems.
Based on our evaluation criteria, QuickBooks earns 4.12 out of 5 stars. It handles wire transfers and records paper check payments, which sets it apart from most of the payment processors we considered. However, QuickBooks Payments does not have international money transfer capabilities and does not work with high-risk businesses. And while its transaction fees are competitive, you will end up paying at least $12.50 a month for a QuickBooks Online account, no matter how much you process in sales.
QuickBooks Payments Features
- Accepts wire transfers, paper checks, and card payments
- Create customizable invoices and send them directly from your QuickBooks platform
- Includes tools for adding a Pay Now button to your invoice to make it instantly payable
- Accept digital payments with ACH and e-check payment options
- Gives next-day access to your deposits, or instantly for an extra 1% fee or with a QuickBooks Visa debit card; you can also set up a recurring schedule for depositing your funds
- Offers seamless integration with Shopify, BigCommerce, and other online platforms so you can accept payments from your website
- Provides access to Cash Flow Center’s real-time dashboard to track and automatically reconcile online and invoice payments
What QuickBooks Payments Is Missing
QuickBooks does not support international currencies and therefore cannot accept international money transfers. Stripe is a great alternative if you require a processor that integrates seamlessly with QuickBooks. On the other hand, Wise offers dedicated tools for processing international payments along with competitive rates.
Square Payments: Best B2B Payment Solution With POS
Square Payments
Overall Score: 3.90 OUT OF 5 iOur score is based on a weighted evaluation of dozens of similar products and services conducted by our experts.
What We Like
- Free POS software
- No chargeback fees
- Seamless omnichannel selling
What's Missing
- Does not serve high-risk businesses
- Does not process wire transfer payments or cross-border card payments
- Limited processing for checks and ACH transfers
Square Payments Pricing*
- Card-present transaction: 2.6% + 10 cents
- Invoices and online payments: 2.9% + 30 cents
- Manual key-in: 3.5% + 15 cents
- Recurring billing/card-on-file transactions: 3.5% + 15 cents
- Instant transfer of funds: 1.5%
- Chargeback: $0
- Hardware: The first reader is free, extras start at $49; terminals start at $299
*Transaction rates designed for businesses processing under $250,000 annually, with average tickets below $15. Volume discounts also available.
Square Payments offers a free POS system with its payment transactions, making it a great choice for B2B businesses that also have an in-person store, do a lot of trade show sales, or have a strong B2C market. It may be able to provide you with a complete solution where everything integrates natively (ecommerce, invoicing, scheduling, payroll, and time tracking), or you can check out its other integrations.
Square is a popular choice among small businesses. Aside from competitive transaction rates, it is the only B2B solution in our list that doesn’t impose chargeback fees (Stripe charges $15, for example, and PayPal, $20). It also has a transaction limit of $50,000 with standard next-day deposit, or same-day access to your funds for an additional fee.
Though Square typically tops our list for best POS and best merchant services for small B2C businesses, in our evaluation of B2B payment providers Square earned 3.90 out of 5 stars. It got a solid 5 stars for pricing and expert score. However, it loses some points for not serving high-risk businesses, charging for instant deposits, and offering limited processing for checks and ACH transfers.
Square Payments Features
- Offers an easy sign-up process with no approval required to start accepting payments
- Features flat-rate transaction pricing for easy understanding of your monthly payment processing expenses
- Includes an all-in-one Square Dashboard where you can manage all your business processes, including tracking sales
- Allows you to create, send, and track invoices online or via Square Payments’ iOS and Android apps
- Features a chargeback and dispute management tool that allows you to manage chargebacks and disputes from the Square Dashboard
- Offers standard next-day fund deposits; get instant or same-day access to your funds (you can pay an additional fee to get up to $10,000 per day in sales transferred immediately, although some restrictions apply)
What Square Payments Is Missing
Wire transfer is not in the list of Square’s supported payment types and it doesn’t help that Square only offers limited processing of checks and ACH transactions. If this is a deal breaker, consider Stripe, which offers the widest range of payment options.
PayPal: Best International B2B Payment Solution
PayPal
Overall Score: 3.88 OUT OF 5 iOur score is based on a weighted evaluation of dozens of similar products and services conducted by our experts.
What We Like
- Processes payments for over 200 countries
- Stored payment information for recurring payments, subscriptions
- Accepts cryptocurrency
What's Missing
- Not great for high-risk businesses
- Chargeback fees
- No wire transfer or check payment processing
PayPal Pricing
- Online transactions: 2.9% + fixed fee based on currency received
- In-store transactions: 2.7% + fixed fee based on currency received
- E-check fee: Same as above; caps on fee ($300 in the US)
- Domestic invoicing: 3.49% + 49 cents
- QR code transactions: 1.9% + fixed fee based on currency received
- International transactions: add 1.5%
- Additional charge for high-risk businesses: 5%
- Chargeback fees: $20
- Dispute fees: $15/$30 for high-volume disputes
Everyone knows PayPal as a way for people to share money or purchase items, but it also works for small B2B merchants. It has a $10,000 cap on transactions, so it’s best for businesses processing lower-ticket sales. PayPal also works for in-person or online businesses of all types and in multiple currencies from over 200 countries. In November 2020, PayPal added cryptocurrency transactions to its list of accepted payments, making it stand out further from its competitors.
PayPal accepts payments online with PayPal or credit cards and allows you to tie a bank account to your PayPal so you can fund payments through it (defaults to the PayPal account first). It also lets you send ACH transfers into your PayPal and tap your bank account to fund your PayPal transactions. It gives you the option to access your money immediately in PayPal, or have it transferred to your bank in a day or two.
In our evaluation, we gave PayPal 3.88 out of 5 stars. It got high marks for its pricing structure and is a flexible service that’s easy to use and continues to grow. However, like Square, it does not process wire transfers, but offers comparatively better tools for accepting ACH payments. It may also accept your high-risk business, but there are restrictions and chargeback fees that can make it less advantageous.
PayPal Features
- Supports credit cards, debit cards, ACH bank transfers, Venmo, and cryptocurrency
- Offers tools supporting recurring payments and buy now/pay later options for your customers
- Gives next-day access to your deposited funds, provided your bank account is linked to your PayPal
- Seamlessly integrates with popular accounting, ecommerce, and POS tools
- Includes accounting tools for calculating taxes for your transactions; also tracks your payment volume and sends you a Form 1099-K if it crosses the IRS calendar year thresholds
What PayPal Is Missing
While PayPal does not support wire transfers, having a linked bank account to your PayPal is a decent workaround. However, PayPal does not have an alternative for processing check payments, which can be a concern for some businesses that still accept this type of tender. If you want your business to have check payment processing options, consider Stripe.
PaymentCloud: Best B2B Payment Solution for High-Risk Businesses
PaymentCloud
Overall Score: 3.31 OUT OF 5 iOur score is based on a weighted evaluation of dozens of similar products and services conducted by our experts.
What We Like
- Supports high-risk industries
- Accepts in-person and online payments
- Same-day setup once approved
What's Missing
- Undisclosed pricing
- Requires monthly minimum transaction
- No international payments
PaymentCloud Pricing
- Competitive interchange-plus pricing
- $0 application fees, setup fees, or annual fees
- Custom monthly fees, minimums, and reserves
- Monthly minimum for high-risk businesses
- Next-day funding
PaymentCloud specializes in high-risk merchants. It works with multiple banks and says it has a 98% approval rating. It does not consider credit scores, nor does it charge application or setup fees. Its payment processing plans include in-store card readers, POS systems, and online and virtual terminals. It also has a mobile app.
Like most payment solutions specializing in high-risk merchant services, PaymentCloud does not list its pricing online. However, expect that it can offer you the best rates and high chances of getting your high-risk business approved for a merchant account. It also offers free next-day funding for all card payments, which you won’t normally see for high-risk merchant account providers, making it a great option for any business needing a speedy cash flow.
In our evaluation, PaymentCloud earned a 3.31 out of 5 stars, getting good marks for its invoicing tools and integrations with accounting software and POS systems. And while it also gained points for being compatible with high-risk businesses, it lost points for requiring a contract and a monthly sales minimum for high-risk sales. It also does not handle wire transfers or international transactions.
PaymentCloud Features
- Offers both traditional and medium- to high-risk merchant account services, but specializes in getting high-risk businesses approved, boasting a 98% approval rating
- Accepts all major credit cards, debit cards, and ACH payments
- Offers online payment solutions with payment gateways, virtual terminal, and online shopping cart integrations
- Partners with Chargeback Gurus for chargeback management where you get instant dispute alerts, dispute tracking, a dispute cause analyzer, and prevention analysis tools
- Includes hundreds of business integration tools, including ecommerce platforms like Shopify, WooCommerce, WordPress, and Wix
- Provides a dedicated account manager to assist with common problems like billing, chargebacks, technical issues, and other concerns
What Payment Cloud Is Missing
PaymentCloud does not accept international payments and therefore would not be the best fit for businesses with global clients. If you require an international payment solution, consider PayPal, which also works with high-risk merchants on a case-to-case basis, or visit our top picks for high-risk merchant account providers for more options.
National Processing: Best for Businesses Accepting a Large Volume of ACH Payments
National Processing
Overall Score: 3.23 OUT OF 5 iOur score is based on a weighted evaluation of dozens of similar products and services conducted by our experts.
What We Like
- Interchange-plus and membership pricing
- Low ACH/e-check processing fee
- 24/7 Customer support
What's Missing
- Charges an early termination fee
- Higher monthly fees for businesses that prefer low cost per transaction
- Charges a separate monthly fee for ACH payments
National Processing Pricing
- Retail business fees: $9.95 per month, 0.18% + 10 cents transaction fee
- Ecommerce business fees: $9.95 per month, 0.29% + 15 cents transaction fee
- Subscription: $59 per month, $0 + 9 cents transaction fee
- Subscription Plus: $199 per month, $0 + 5 cents transaction fee
- Chargeback fee: $15
- ACH: $15 monthly, $0.48 per transaction
- Cancellation fee: $295
National Processing offers significantly low interchange-plus pricing for businesses willing to pay higher monthly fees. Contracts are on a monthly basis, with different rates based on industry type; larger businesses can opt for subscription pricing with even lower transaction fees. However, it’s in accepting ACH payments where National Processing stands out, with its own proprietary ACH software that allows it to offer low transaction fees.
We like how National Processing strives to offer the lowest possible rates. If your business processes more than $10,000 per month, National Processing offers a $500 rebate if it can’t beat your current rates. It also waives cancellation fees for current customers who find better rates that National Processing can’t match. High-risk businesses can also get a merchant account at National Processing with customized pricing.
Overall, we gave National Processing 3.23 out of 5 stars for its highly competitive pricing, excellent customer service hours, compatibility with high-risk businesses, and added business tools. However, like Dharma, it lost points for its lack of wire transfer and check processing capability. It also cannot accept international payments, and using National Processing’s ACH service will cost an additional monthly fee.
National Processing Features
- Accepts electronic bank transfers via ACH and e-checks, as well as card payments via virtual terminal and payment gateway
- Provides its own proprietary ACH software that can handle direct deposit and recurring payments, which significantly reduces cost of ACH payment processing
- Integrates with QuickBooks, Zendesk, and popular ecommerce platforms
- Supports high-risk businesses
What National Processing Is Missing
National Processing does not offer international payment processing, so businesses with global customers will not find this provider a good fit. We recommend Stripe, PayPal, or Dharma if you need this feature available in your merchant account.
Dharma Merchant Services: Best for High-Volume Businesses Accepting International Payments
Dharma Merchant Services
Overall Score: 3.22 OUT OF 5 iOur score is based on a weighted evaluation of dozens of similar products and services conducted by our experts.
What We Like
- Low, interchange-plus pricing
- Includes online reporting and customer database
- Free virtual terminal and mobile processing features
What's Missing
- Strict application process
- Does not support high-risk merchants
- No early termination fee but there is a fee when cancelling your account at any time
Dharma B2B Pricing
- Monthly fee: $25
- Transaction fee (low volume): 0.20% + 11 cents
- Transaction fee (high volume): 0.10% + 11 cents
- ACH/e-check via MX Merchant:
- Transactions less than $100 = 40 cents
- Transactions from $100-$1,000 = 0.10% + 40 cents
- Transactions greater than $1,000 = 0.20% + 40 cents
- Cancellation fee: $49
- Chargeback fee: $25
Dharma Merchant Services is best for businesses that process over 5,000 transactions or $100,000 per month. It stands out from National Processing because it allows you to accept international money transfers and offers much lower monthly fees. It offers competitive subscription pricing for growing B2B businesses that need offline and online payment solutions without the burden of a long-term contract.
Dharma’s subscription plans include a free virtual terminal, online reporting, mobile processing, and a customer database, among other features. It provides interchange-plus pricing and can work to get you lower interchange rates. B2B businesses can also expect level 2/3 interchange reductions through Dharma’s integration with MX Merchant.
Based on our evaluation, Dharma Merchant Services earned 3.22 out of 5 stars. It earned points for its ability to accept international money transfers, priority 24-hour funding for B2B merchants, and its suite of business tools. However, Dharma does not support high-risk businesses, charges extra for invoicing features, and collects a fee for closing an account which, all-in-all, prevented it from ranking higher in our evaluation.
Dharma Features
- Provides free access to MX Merchant, which offers free virtual terminal solutions plus robust reporting features and access to a mobile payment app
- Accept payments for online and invoices with a payment link or a Pay Now button
- Create a customer database along with credit card storage tools to facilitate accepting subscription and recurring payments
- Offers next-day funding for card-present transactions
- Provides 24/7 customer support
What Dharma Is Missing
Like PaymentCloud and National Processing, Dharma does not accept wire transfers and check payments (Stripe and QuickBooks accept both). It’s also important to note that Dharma charges an account cancellation fee, regardless of when you terminate your subscription. If you want to avoid this extra cost, consider alternatives like Stripe.
Wise: Best for Small Businesses Accepting International Payments
Wise
Overall Score: 3.17 OUT OF 5 iOur score is based on a weighted evaluation of dozens of similar products and services conducted by our experts.
What We Like
- Affordable transaction fee
- Free currency conversion for some countries
- Accounting and reporting tools integration
What's Missing
- Does not accept credit card payments
- US customer service limited to business hours
- Not compatible with high-risk merchants
Wise Pricing
- One-time setup fee: $31
- ACH transaction fee: $0
- Wire transfer fee for receiving money: $7.50 (for $10 and up)
- Fixed fee to send money: $1.40
Wise (formerly TransferWise) is a cheaper alternative to credit card processing for international businesses. Wise lets you or your clients move money internationally between bank accounts so that you pay only the conversion rates with no markups. It claims to be up to 19 times cheaper than PayPal and may make a nice addition to a processor.
Wise is an ideal processor if you accept frequent small payments in multiple currencies. You’ll need to pay a one-time sign-up fee to receive money, and you get everything you need to complete international transactions such as a sort code, IBAN, and routing number. It also integrates with popular business tools such as QuickBooks, Xero, Shopify, Stripe, and more.
Based on our evaluation criteria, Wise received 3.17 out of 5 stars. It earned high marks for pricing and contract, but fell behind for its limited payment types as it does not process checks and credit card payments for US-based businesses. It is also not compatible with high-risk merchants.
Wise Features
- Provides you with your Wise Business sort code, IBAN, and routing number for a small setup fee
- Send out customized invoices and track payments you receive from a single platform
- Receive multiple currencies with low (sometimes free) conversion fees
- Integrates with Xero, QuickBooks, Shopify, Stripe, and more
- Receive payment notifications from your Wise app
What Wise Is Missing
Unfortunately, Wise clients residing in the US can only accept payments through wire transfers and ACH for now. This means that if your business accepts a majority of your payments through card transactions, then Wise may not be a good fit. If the bulk of your transactions are from card payments, consider Stripe for more flexibility; if your business regularly handles large transactions, consider National Processing.
Bottom Line
Businesses doing B2B sales have a lot of strong options for payment processors. Start by assessing your own needs, including the kind of processing (online, e-check, card swipe, invoicing) and the average amount per sale. Consider if you need hardware or software—and what software you may want to integrate with. Then, look at pricing and contracts.
Overall, we chose Stripe for versatility in features and payment types. It also offers competitive pricing for small businesses. Contact Stripe today to learn more.
