Best Merchant Services for Small Businesses + Fee Calculator
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.
This article is part of a larger series on Payments.
Merchant services allow businesses to accept credit and debit card payments. In addition to the merchant account, many merchant service providers also offer payment processing tools such as payment gateways, virtual terminals, point-of-sale (POS) systems, and card-reading hardware.
The best solutions offer competitive rates, month-to-month contracts with no cancellation fees, and an array of flexible payment solutions for in-person and online transactions.
In our evaluation, the best merchant services for small businesses are:
- Square: Best overall merchant services for individuals and new businesses
- Helcim: Best and cheapest option for established businesses
- Payment Depot: Best subscription pricing with no percentage markup
- Stax by Fattmerchant: Best for established businesses needing invoicing or recurring billing
- Chase Payment Solutions: Best traditional merchant account offered through a bank
- Dharma Merchant Services: Best for transparent pricing and eco-friendly business practices
- PayPal: Best for occasional sales, online checkout, and nonprofits
- QuickBooks Payments: Best for businesses using QuickBooks, especially B2B and freelancers
- Stripe: Best for online credit card processing and integrations
- Payment Cloud: Best high-risk merchant accounts for businesses of all sizes
Best Merchant Services Compared
Pricing Structure | Monthly Fee | Swipe/Chip Transaction | Online Transaction | Hardware | |
|---|---|---|---|---|---|
Flat rate | $0 | 2.6% + 10 cents | 2.9% + 30 cents | ||
Interchange plus | $0 | Interchange plus 0.3% + 8 cents | Interchange plus 0.5% + 25 cents | ||
Subscription | $59–$99 | Interchange plus 8 cents | Interchange plus 15 cents | Free Dejavoo hardware available | |
Subscription | $99+ | Interchange plus 8 cents | Interchange plus 15 cents | Free Dejavoo hardware available | |
Flat rate | $0 | 2.6% + 10 cents | 2.9% + 25 cents | Chase Terminals and Mobile Reader | |
Interchange plus | $25 | Interchange plus 0.15% + 8 cents | Interchange plus 0.2% + 11 cents | Verifone, Ingenico, Clover, and more | |
Flat rate | $0–$30 | 2.29% + 9 cents** | 2.99% + 49 cents | ||
Flat rate | $0* | 2.4% + 25 cents | 2.9% + 25 cents | ||
Flat rate | $0 | 2.7% + 5 cents | 2.9% + 30 cents | Strip Reader M2, BBPOS WisePOS E | |
Custom quote | Custom quote | Custom quote | Custom quote | Custom quote |
*QuickBooks subscription required, which start at $25 monthly
**Through PayPal Zettle
Interchange rates are the fees charged by the card-issuing bank to process card transactions. Average interchange rates are typically around 1.8%, though vary widely based on the type of transaction and card. Learn more about interchange rates.
Merchant Services Monthly Fee & Effective Rate Calculator
Enter in your typical monthly sales volume and average order value or ticket size to see how much you would pay each month with each processor, along with your effective rate:
Note: These rates are only estimates and do not include software fees, chargebacks, and hardware fees, nor do they account for keyed-in payments. For this calculation we used average Visa interchange rates for in-person and online credit transactions. The amount you pay will vary depending on your customer’s payment method, the type of transactions you process, and your specific agreement with your processor.
Looking for something different?
If you need hardware, see our guide to credit card readers. Meanwhile, if you’re an established business looking to save on processing fees, you may be interested in our guide to the cheapest credit card processing companies.
Continue on for more details on the best merchant services for small businesses:
Square: Best Overall for Individuals & New Businesses
Square
Overall Score: 4.43
OUT OF 5
What We Like
- Transparent, predictable pricing
- Free, user-friendly software
- No application, contract, monthly fees, or minimum requirements
What's Missing
- Account stability issues
- ACH processing only available through invoicing feature
- Not compatible with high-risk businesses
Square Pricing
- Monthly fee: $0
- Card-present transaction fee: 2.6% + 10 cents
- Ecommerce and invoice transaction fee: 2.9% + 30 cents
- Card-not-present transaction fee: 3.5% + 15 cents
- Contract length: None, pay-as-you-go billing
- Early termination fee: $0
- Chargeback fee: None, plus up to $250/month for chargeback protection
- Card reader: $49
Square is an all-in-one merchant services provider, meaning it can process payments in-store and online as well as via mobile, virtual terminal, invoice, and even QR code payments. The simplest merchant account provider to get started with, Square is free to use except for pay-as-you-go transaction fees. Easy, low-cost, and flexible merchant services combined with the best free POS software makes Square the best value for new and small businesses.
Besides being the best all-purpose merchant account, we also recommend Square as the best free merchant account and credit card payment app. While many of the other merchant services on our list are frequently featured in our guides, Square usually earns the top slot in multiple categories.
Since our last update:
In 2021, Square introduced Square Banking, which offers checking, savings, and loans for small businesses. Businesses using Square Merchant Services and Square Banking can access funds from sales instantly through a Square Business Checking account, which also comes with a debit card. This addition makes Square competitive with Chase Payments Solutions, as in both cases Square and Chase can serve as both the processor and acquiring bank, meaning you have access to your funds much faster. Visit Square Banking to learn more.
As soon as you create your free Square account, you can accept credit card payments, record cash and check sales, process invoices, set up an online checkout or ordering system, and accept contactless payments.
The real benefit of choosing Square as your merchant service provider is Square’s full suite of business management tools included in your free Square POS software, including customer management, online store, a virtual terminal, invoicing software, reporting, and more.
Square Payment Processing Hardware
Card Readers & Terminals
Magstripe Reader | Contactless and Chip Reader | Square Terminal |
|---|---|---|
 |  |  |
First free, additional $10 | $49 | $299 or $27 per month for 12 months |
Accepts payments via magstripe (swiped), available in jack or lightning connector. | Bluetooth reader that accepts EMV (chip), and NFC (Apple Pay, Google Pay) payments. Optional countertop dock and phone case mount. | Stand-alone mobile POS that can take orders, accept card payments and issue receipts with built-in printer. |
POS Systems
Square Stand | Square Register |
|---|---|
 |  |
$169 or $16 per month over 12 months | $799 or $39 per month for 24 months |
Credit card machine on a swivel stand to attach to iPad (sold separately). Accepts chip, contactless, and swipe payments. | Full POS with touch-screen monitor, detachable customer-facing display, and credit card machine |
Read our Square Payments review for more details on pricing and features. If you’re curious about Square’s other products, like point of sale and banking, read our guide to Square.
Helcim: Best & Cheapest Merchant Services for Established Businesses
Helcim
Overall Score: 4.33
OUT OF 5
What We Like
- Interchange plus pricing with no monthly fee
- No contracts or early termination fees
- Free POS, CRM, invoicing, and online store software
What's Missing
- Limited third-party integrations
- Not suitable for new or high-risk businesses
Helcim Pricing
- Monthly fee: $0
- Card-present transaction fee: Interchange plus 0.3% + 8 cents*
- Card-not-present transaction fee: Interchange plus 0.5% + 25 cents*
- Contract length: None, pay-as-you-go billing
- Early termination fee: $0
- Chargeback fee: $15 per lost dispute
- Card readers: $109
*Starting rates. Volume discounts are automatically applied to businesses processing over $25,000 monthly.
Helcim is an all-in-one merchant account provider. Similar to Square, it comes with free sophisticated sales solutions, including a fully hosted online store, invoicing software, POS app, a mobile payment app, basic inventory tracking, hosted payment pages, and more. Like Payment Depot and Stax by Fattmerchant, Helcim offers interchange-plus pricing, which is great for businesses doing heavy volume.
Unlike the others, it has no monthly fee and offers automated discounts as you scale. Helcim’s free software, interchange-plus pricing with no monthly fee, and transparent volume discounts make it the best and most affordable choice for established businesses.
Since our last update:
In 2021, Helcim did away with its $20 monthly fee, giving it an edge over Payment Depot in our evaluation of the cheapest credit card processing companies. In March of this year, Helcim launched Helcim Bank Payments, allowing merchants to accept ACH and EFT payments.
Competitive interchange-plus pricing, along with ecommerce tools, makes Helcim a great choice for retail businesses, especially those that want to sell online.
However, Helcim does not work with high-risk businesses such as CBD or vape shops. If you need a high-risk merchant account for your storefront, PaymentCloud might be your best choice.
Helcim also has a strict approval process that favors established businesses. If you are just starting out, process infrequent payments, or are a seasonal merchant, consider choosing Square instead—it has no application or approval process.
Helcim Hardware
Helcim has a single card reader option that can be used for countertop or mobile sales. The Helcim Card Reader costs $109, includes a free countertop stand, and is shipped for free in two to three business days.
The Helcim Card Reader is pricier than many other mobile card readers, but less expensive than most countertop or terminal readers.
(Source: Helcim)
The Helcim Card Reader can accept contactless, chip, and swipe payments, including contactless and PIN debit payments. Its hardware connects to any device—Mac, PC, smartphone, tablet, or iPad—and connects to the free Helcim point-of-sale app. Though there is no built-in receipt printer, Helcim supports email receipts.
To learn more about pricing, features, and contract terms, read our full Helcim review.
Payment Depot: Best Merchant Services With No Percentage Markup
Payment Depot
Overall Score: 4.09
OUT OF 5
What We Like
- Low-cost membership pricing
- No contract or cancellation fee
- 24/7 customer support
What's Missing
- Low processing limits on plans
- Limited online support
- US merchants only
- Lack of transparency on transaction fees
Payment Depot Pricing
- Monthly fee: $59–$99 (determined by processing volume)
- Card-present transaction fee: Interchange plus 8 cents
- Card-not-present transaction fee: Interchange plus 15 cents
- Contract length: Month-to-month
- Early termination fee: $0
- Chargeback fee: Payment Depot passes these along from the acquiring bank, typically $15
- Card readers: From $49
- Other fees: Payment Depot will charge a $19.99 monthly fee for PCI non-compliance if you do not keep your business compliant.
Payment Depot is a merchant service provider with a membership pricing model that offers payment processing at extremely competitive rates. One membership with Payment Depot includes interchange-plus pricing for card-present, online, virtual terminal, and mobile payments.
Payment Depot is also one of the only interchange-plus processors on this list that does not add a percentage markup—just a flat fee of 8 cents for card-present transactions and 15 cents for card-not-present transactions. Stax has a similar pricing model and only charges flat fees. However, Stax’s monthly fees are much higher, starting at $99 per month.
Since our last update:
Recently, Payment Depot lowered its minimum monthly fee from $79 to $59, making it a more competitive option for small businesses. However, it’s important to note that the monthly processing limits on Payment Depot’s plans are a lot lower than they were before, meaning medium-sized businesses processing $20,001–$50,000 per month will pay higher monthly fees than before.
This change also coincides with Stax’s acquisition of Payment Depot. While there have been no official press releases, the logo on Payment Depot’s website is updated and its Terms of Service now list Stax as the merchant service provider.
Payment Depot’s flexible model with affordable pricing makes it one of the cheapest credit card processors for small established businesses, including retailers, restaurants, salons, auto shops, medical practices, and business-to-business (B2B) companies.
Payment Depot Hardware
Payment Depot has a wide selection of card readers available, including mobile and countertop solutions from popular brands like Clover, Poynt, and SwipeSimple. Those hardware items have quote-based pricing.
However, Payment Depot also offers free countertop terminals to qualifying customers. Learn more below:
Free Hardware Offer
Just like its new parent company, Stax, Payment Depot also offers free Dejavoo terminals to qualifying customers. There are still no long-term contracts or early termination fees. If you cancel with Payment Depot, you just need to return the hardware. Eligible hardware products include:
- Dejavoo Z8 Terminal
- Dejavoo Z11 Terminal
- Dejavoo QD4 Desktop POS
Mobile Readers
SwipeSimple B250 | Clover Flex |
|---|---|
 |  |
Connect this reader to your mobile device via Bluetooth to accept swipe, chip, and contactless payments. | Handheld reader for swipe, chip, and contactless payments. Requires Clover POS subscription. |
Standard Terminals
SwipeSimple Terminal | First Data FD150 | Dejavoo Z11 Terminal |
|---|---|---|
 |  |  |
Accept swipe, chip, and contactless payments. Includes basic POS functionality via free SwipeSimple account. | Accept swipe, chip, and contactless payments, plus Dynamic Currency Conversion. Has 3 USB ports for connecting peripherals. | Accept swipe, chip, and contactless payments. Large screen ideal for capturing signatures. |
Clover POS Systems
Clover Mini LTE | Clover Station POS | Clover Station Pro |
|---|---|---|
 |  |  |
Compact countertop POS with inventory and customer management features. Wide array of add-ons and apps available. Requires Clover POS subscription. | 14” HD touch-screen display with receipt printer and cash drawer. Customizable POS with fingerprint log-in for staff. Requires Clover POS subscription. | Similar to Station POS, with the addition of a customer-facing display. Clover’s newest, largest, and fastest POS. Requires a Clover subscription. |
Other POS Systems
Poynt Smart Terminal | Vital Select |
|---|---|
 |  |
Dual touch-screen terminal with customer-facing display. Built-in QR and barcode scanner and thermal receipt printer. Built-in customer management and QuickBooks integration. | Cloud-based touch-screen POS with inventory and reporting features, plus many other tools including tax and employee management, order-ahead, and sales associate assignments. |
To learn more, read our full Payment Depot review.
Stax by Fattmerchant: Best for High-volume Billing & Invoicing
Stax by Fattmerchant
Overall Score: 4.05
OUT OF 5
What We Like
- Membership model interchange-plus pricing
- User-friendly software
- Unique add-on tools
What's Missing
- Pricey software packages
- Lack of pricing transparency
- Not ideal for new and low-volume businesses
Stax Pricing
- Monthly fee: From $99 (depends on processing volume and software packages)
- Card-present transaction fee: Interchange plus 8 cents
- Card-not-present transaction fee: Interchange plus 15 cents
- Contract length: Month-to-month, 30-days’ notice to cancel
- Early termination fee: $0
- Chargeback fee: $25
- Card readers: Custom quote
Stax by Fattmerchant is a popular merchant service provider with dedicated solutions for small and large businesses, as well as SaaS platforms. Similar to Payment Depot, Stax offers membership-based interchange-plus pricing. However, Stax’s monthly fees are higher, starting at $99, and the pricing plans are targeted more toward growing small businesses processing at least $20,000 per month.
Aside from targeting larger businesses, Stax is also different from Payment Depot and other traditional merchant accounts on this list because of the proprietary software options it provides.
Stax offers invoicing, card-on-file payments, and recurring billing similar to Helcim, Stripe, and Square. What sets Stax apart are features like SMS text-to-pay solutions, white-label customer portals, and robust reporting. These tools are ideal for growing businesses that primarily collect payments through online billing or invoicing such as professional services.
Since our last update:
In November 2021, Stax acquired CardX, an automated credit card surcharge platform that passes processing fees through to customers. This feature is now available through Stax where permitted by state and local guidelines.
Stax Hardware
Stax hardware is custom-quoted. A selection of BBPOS mobile readers, Z terminals, and PAX terminals are available. We have previously been quoted $100 for mobile readers, $175 to $300 for Z terminals, and $500 to $650 for PAX models. These are available for purchase for a one-time fee, or through monthly fees with protection plans.
Additionally, Stax offers free Dejavoo terminals to qualifying customers. This is the same offer as Payment Depot. If you cancel your merchant account, you just need to return the hardware (or you will be billed for the cost). Eligible hardware products include:
- Dejavoo Z8 Terminal
- Dejavoo Z11 Terminal
- Dejavoo QD4 Desktop POS
Contact Stax for more information.
Read our full Stax by Fattmerchant review for more information on pricing, hardware, features, and contract.
Chase Payment Solutions: Best Merchant Account Through a Bank
Chase Payment Solutions
Overall Score: 3.95
OUT OF 5
What We Like
- Direct processor
- Same-day funding for Chase Business Checking customers
- Negotiable rate
What's Missing
- Some plans require long-term contracts
- Not all pricing disclosed on website
Chase Payment Solutions Pricing
- Monthly fee: $0
- Card-present transaction fee: 2.6% + 10 cents
- Card-not-present transaction fee: 2.9% + 25 cents
- Contract length: Most plans are month-to-month
- Early termination fee: $0
- Chargeback fee: $25
- Card readers: Quoted price
Chase Payment Solutions (formerly Chase Merchant Services) offers merchant services that are a great alternative for any business looking to work with a traditional bank, especially if your business accounts are with Chase. Having Chase as both the processor and receiving bank in transactions can provide speed and security by removing the intermediary.
Since our last update:
Chase has rebranded from Chase Merchant Services to Chase Payment Solutions.
Chase Business Checking customers really get the best value from using Chase as a merchant service provider. With a checking account, you can access Chase QuickAccept, a free mobile payments app that includes same-day deposits and dispute management. No application is necessary. (Square is starting to move into banking services as well, and PayPal, of course, lets you deposit into your PayPal accounts.)
However, Chase is one of the largest processors in the US, and any business can apply to use its merchant services. Chase is one of the few direct processors that offer flat-rate fees for small businesses. Larger businesses can also negotiate competitive interchange-plus pricing, like you’d find with Payment Depot, Stax by Fattmerchant, or Helcim.
Chase Payments Solutions Hardware
Chase Smart Terminal* | Countertop Terminal | Mobile Terminal | Chase QuickAccept Mobile Card Reader* |
|---|---|---|---|
 |  |  |  |
$399 | $299 | $399 | $49.95 |
Wireless, Wi-Fi-enabled credit card terminal with digital and email receipts, transaction search, and more. | Ethernet or Wi-Fi connection with 24/7 support. Color screens with tipping functions and built-in receipt printers. | Same as the countertop terminal, but with a mobile battery that can power 450 transactions between charges. | Use the Chase Mobile app and optional card reader to accept swipe, chip, and contactless payments on the go. |
*Only available to Chase Business Checking customers because it includes free same-day deposits.
Read our Chase Payment Solutions review for more details.
Dharma Merchant Services: Best for Transparent Pricing & Eco-friendly Business Practices
Dharma Merchant Services
Overall Score: 3.90
OUT OF 5
What We Like
- Affordable and transparent pricing
- Next-day funding options
- Free MX Merchant account
What's Missing
- Higher markups for American Express transactions
- Not best for mobile
- Strict application process
Dharma Pricing
- Monthly fee: $25
- Card-present transaction fee: Interchange plus 0.15% + 8 cents
- Card-not-present transaction fee: Interchange plus 0.20% + 11 cents
- American Express card-present transaction fee: Interchange plus 0.25%
- American Express card-not-present transaction fee: Interchange plus 0.3%
- Contract length: Month-to-month
- Account closure fee: $49
- Chargeback fee: $25
- Card readers: $269–$479 for full terminal
- Clover POS systems available
Dharma Merchant Services is a merchant services provider that specializes in working with small businesses and is known for being very transparent and honest in its practices. Every single fee—even account closure fees—is listed on Dharma’s website. In addition to transparency and affordable pricing, Dharma is an eco-friendly company and, to date, has donated over $750,000 to nonprofits.
Dharma offers low-cost interchange-plus pricing and only works with low-risk merchants processing at least $10,000 monthly. Merchants processing over $100,000 or 5,000 transactions qualify for volume discounts, which are also available on Dharma’s website. And, there are special rates for restaurants with low average tickets.
Every Dharma account also includes a free MX Merchant account that includes a virtual terminal, mobile payment processing, online payment links, a customer database with card-on-file capabilities, and online reporting. Many other processors, including PayPal and Stax, charge extra monthly fees for access to features like virtual terminals, payment links, and card-on-file customer databases.
Dharma Merchant Services Hardware
Verifone Engage V200c Terminal | FD-150 Terminal | Ingenico Desk/5000 for B2B | Dejavoo Z11 |
|---|---|---|---|
 |  |  | |
$269 | $295 | $369 | $269 |
Accepting swipe, chip, PIN, and contactless payments and print receipts. Compatible with B2B payments, level 2 rates, and multi-merchant configuration. | Accept swipe, chip, PIN, and contactless payments. Print receipts and reports, and connect optional customer-facing display. | Swipe, chip, PIN, and contactless payments, including B2B card-present transactions. Hardwire, Wi-Fi, or 4G cellular connectivity. | Swipe, chip, PIN, and contactless payments. Compatible with MX Advantage to program surcharging. |
Dharma has additional terminals available with external-facing PIN pads designed for accepting tips. Additionally, because Dharma is part of the TSYS network, it is compatible with many POS systems. You can also purchase Clover POS hardware, including Clover Flex, Mini, and Station, through Dharma.
Read our full Dharma Merchant Services review to learn more.
PayPal: Best Merchant Services for Ecommerce & Occasional Sales
PayPal
Overall Score: 3.86
OUT OF 5
What We Like
- Easy to use
- Trusted by customers
- Accept international and PayPal payments
What's Missing
- Account stability issues
- Monthly fee for virtual terminal
- Complex pricing
PayPal Pricing
- Monthly fee: $0–$30
- Card-present transaction fee: 2.29% + 9 cents through PayPal Zettle (PayPal’s free point of sale app)
- Online transaction fee: 2.9% + 49 cents
- PayPal Checkout transaction fee: 3.49% + 49 cents
- Contract length: None, pay-as-you-go billing
- Early termination fee: $0
- Chargeback fee: $20
- Card readers: $24.99
PayPal is a household name offering user-friendly payment processing for online, mobile, and in-store sales. PayPal offers competitive flat-rate fees and is quick and easy to sign up for. It also has discounted rates for nonprofit organizations.
Plus, adding PayPal as a payment option can increase online store conversions and reduce cart abandonment because shoppers don’t need to type in payment or shipping information. PayPal alone makes this distinction and is often used with other merchant accounts like those on our list.
However, PayPal is not a traditional merchant account. This means business accounts can be flagged and frozen if the company deems anything suspicious, which is problematic for businesses relying on daily deposits. So, PayPal is a recommended option for low-volume and occasional sales or an additional payment option for online stores.
Additionally, PayPal has many different programs, each with different transaction fees and monthly add-ons, so pricing is not always transparent.
PayPal changes its pricing frequently. Though PayPal overhauled a lot of its pricing in 2021, it has adjusted its rates several times already in 2022. The rates in this guide were posted in June 2022 and go into effect July 2022. Check the PayPal website for current pricing.
PayPal Hardware
Zettle Reader 2 | Store Kit Mini | Store Kit Portable* | Store Kit Standard |
|---|---|---|---|
 |  |  |  |
$79 (first one $29) | From $249 | From $339 | From $499 |
Accept chip, PIN, and contactless payments. Connect to Zettle POS app via Bluetooth. Battery lasts 8 hours or 100 transactions. Optional charging dock available. | Includes card reader, stand, dock, and optional iPad for additional cost. Compatible with PayPal Zettle POS. | Includes card reader, portable thermal receipt printer, and extra thermal rolls. Need to connect the reader to a smart device via Bluetooth to access Zettle POS. | Includes card reader, dock, stand, smart printer, and thermal rolls. Optional iPad for additional cost. |
*Out of stock at the time of publication
Read our full PayPal Business review to learn more about its pricing and features. For in-store and mobile sales, read our PayPal Zettle review.
QuickBooks Payments: Best Credit Card Processing for QuickBooks Users
QuickBooks Payments
Overall Score: 3.77
OUT OF 5
What We Like
- Transparent, flat-rate pricing
- Volume discounts for businesses processing more than $7,500 monthly
- Invoicing and recurring billing tools, including ACH payment processing
- Seamless integration with QuickBooks accounting
What's Missing
- Only makes sense if you already use QuickBooks
- Limited hardware options
- Not ideal for high volume of card-present transactions or ecommerce payments
QuickBooks Payments Pricing
- Monthly fee: $25*
- Card-present transaction fee: 2.4% + 25 cents
- Invoice transaction fee: 2.9% + 25 cents
- Keyed-in transaction fee: 3.4% + 25 cents
- Contract length: None
- Early termination fee: $0
- Chargeback fee: $25
- Card readers: $49
*QuickBooks Online subscription
Since our last update:
QuickBooks has rebranded from QuickBooks GoPayment to QuickBooks Payments.
QuickBooks Payments has a lot of strong features and good rates. In fact, if you regularly process over $7,500 a month, you can apply for a discount on transactions of up to 40%. The other processors on our list that offer discounts usually do so at a higher volume.
QuickBooks also has a reduced rate for ACH transfers: 1% with a maximum of $10. Compare this to Square, which has 1% but a minimum of $1 and no maximum.
However, you must have a QuickBooks account to use this service, which means you will pay at least $15 a month no matter how much you process in sales. Keep in mind, though, that even if you use a different processor and want QuickBooks for accounting, you’ll still be paying this monthly QuickBooks fee. Learn more with our review of QuickBooks Online.
QuickBooks, along with many others on this list, rank among the best B2B payment solutions. It has Level 2 processing, which gets you cheaper rates for B2B transactions. It also has invoicing tools and lets you designate multiple accounts for deposits. Additionally, it has a longer deposit time than most on our list—usually two or three days.
QuickBooks Payments Hardware
QuickBooks Card Reader |
|---|
 |
$49, $79 with Power Stand |
Accept EMV chip, debit, credit, Apple Pay, and Google Pay payments. Connects wirelessly to phone or tablet via Bluetooth for the QuickBooks GoPayment app. Stays charged for up to a week. |
QuickBooks offers a single mobile card reader option that is compatible with QuickBooks’ GoPayment mobile app. Countertop pin pads are only available through QuickBooks POS.
Though, you can accept payments directly through the QuickBooks Online accounting software by sending an invoice or manually keying in the payment. Learn more in our tutorial on how to enter credit card transactions in QuickBooks Online.
See a full breakdown of pricing and features in our QuickBooks Payments review.
Stripe: Best for Online Credit Card Processing & Integrations
Stripe
Overall Score: 3.80
OUT OF 5
What We Like
- Powerful, user-friendly developer tools, and APIs
- Robust security, reporting, and account management tools
- Supports over 35 countries and 135 currencies
- Transparent, flat-rate pricing
What's Missing
- Limited functionality for in-person payments
- Best for those with software development skills or resources
Stripe Pricing
- Monthly fee: $0
- Card-present transaction fee: 2.7% + 5 cents
- Card-not-present transaction fee: 2.9% + 30 cents
- 1% additional fee for international cards and currency conversion
- Contract length: None, pay-as-you-go billing
- Early termination fee: $0
- Chargeback fee: $15 per lost dispute
- Chargeback protection and coverage available for 0.4% transaction fee
- Card readers: $59
Stripe is a payment processor with sophisticated software and APIs ideal for online businesses and apps that want to create a custom checkout solution. Stripe’s pre-built integrations make it easy to connect a Stripe checkout to almost any website or software. Besides PayPal, it’s the easiest to integrate for online sales.
One of the best features of Stripe is the number of different payment types it can work with. Accept ACH and e-check payments, WeChat, Klarna, Apple Pay, Google Pay, and more. Configure subscriptions, recurring billing, or one-time payments for different checkout needs (like per-seat pricing, metered billing, coupons, free trials, prorates, overages, and usage-based fees). And, automatically update expired or renewed customer card information.
Stripe is an industry-leading payment solution used by startups and Fortune 500 companies. It tops our list of best international merchant accounts due to its cross-border and multicurrency capabilities and compatibility with 135+ currencies.
While it has competitive pricing for businesses of all sizes, you’ll get the most value out of Stripe if you have developer resources to configure and maintain a custom checkout. This is especially true if you need to process in-person payments. While Stripe powers payment processing for popular small business software including Shopify, Lightspeed, and Wix, small businesses are better served by a plug-and-play payment processor for in-store or mobile sales.
However, this may change in the future as Stripe continues to invest in its no-code and hardware products.
Since Our Last Update in October 2021:
- Stripe acquired BBPOS, a popular card reader company, to accelerate the pace of its hardware creation.
- Stripe has launched global crypto payouts.
- It also launched new no-code Payment Link features including subscriptions, upsells, and more customizations.
Stripe Hardware
Stripe Reader M2 | BBPOS WisePOS E |
|---|---|
 |  |
$59 | $249 |
Accept EMV chip, contactless, and mobile wallet payments. This battery-powered reader connects to your point-of-sale app via Bluetooth. | Android-based POS with a 5-inch display including PIN functionality. Connects to a third-party POS app via Wi-Fi. |
The most important thing to note about Stripe’s hardware is that to use it, you must connect to a third-party POS app either through Stripe’s partner ecosystem or by coding your own solution. In contrast, every other payment processor on this list offers a more straightforward plug-and-play solution for mobile payments. This is one of the main reasons Stripe is best for online-only businesses.
If you want to use Stripe to accept in-person payments, see our guide to the best mobile payment apps for Stripe.
Read our full Stripe review for more details.
PaymentCloud: Best High-risk Merchant Account
PaymentCloud
Overall Score: 3.62
OUT OF 5
What We Like
- 98% of high-risk accounts are approved
- Excellent customer support
- Customized high-risk payment gateway
- Crypto and zero-cost processing available for low-risk businesses
What's Missing
- Pricing not disclosed
- Longer application and approval process
PaymentCloud Pricing
PaymentCloud does not have any publicly disclosed pricing, which is common for high-risk merchant account providers. The rates you receive will depend on your individual business and what PaymentCloud can negotiate with one of its partner banks.
However, there are no application, setup, or annual fees.
As a popular merchant service provider, PaymentCloud specializes in high-risk accounts. If you are a high-risk business because of the type of products or services you sell or poor credit, PaymentCloud could be a good fit, even if other merchant account providers have turned you down.
Offering a hard-to-place program, PaymentCloud includes relationships with over 10 banks and a step-by-step application process to help you submit all the documents needed to get approved by one of their partner banks.
PaymentCloud does offer traditional merchant services in addition to high-risk account services. However, high-risk payment processing is what PaymentCloud is best known for. In fact, many other merchant service providers refer high-risk businesses to PaymentCloud because of its excellent reputation in getting businesses approved.
PaymentCloud Hardware
PaymentCloud has many options for card readers and POS systems. However, PaymentCloud does not disclose specific models or pricing on its site. You’ll need to contact PaymentCloud for a specific quote.
If you’re migrating over to PaymentCloud from a different processor, PaymentCloud will reprogram your existing equipment if possible.
In general, PaymentCloud works with and offers card readers from the following brands: Ingenico, Verifone, MagTek, Clover, First Data, and Dejavoo.
While PaymentCloud does not publicly disclose pricing, we received estimates for both medium and high-risk businesses. See our PaymentCloud review for details.
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Methodology: How We Evaluated Merchant Services
We considered dozens of processors, narrowing our selection down to 16 options. We then evaluated those 16 options across 22 data points divided into the categories Pricing & Contract, Payment Types, Features, and Expert Score. From our evaluation, we selected the 10 top-scoring payment processors to feature in this guide.
Click through the tabs below for our full evaluation criteria:
25%
Pricing
30%
Payment Types
25%
Account Features
20%
Expert Score
25% of Overall Score
We awarded points to merchant account providers that don’t require contracts and offer month-to-month or pay-as-you-go billing. Additionally, we prioritized providers that don’t charge hefty monthly fees, cancellation fees, or chargeback fees and only included providers that offer competitive and predictable flat-rate or interchange-plus pricing. We also awarded points to processors that offer volume discounts, and extra points if those discounts are transparent or automated.
30% of Overall Score
The best merchant accounts can accept various payment types—including POS and card-present transactions, mobile payments, contactless payments, ecommerce transactions, and ACH and e-check payments—and offer free virtual terminal and invoicing solutions for phone orders, recurring billing, and card-on-file payments.
25% of Overall Score
20% of Overall Score
*Percentages of overall score
Bottom Line
Choosing the right merchant account provider can save your business lots of money in fees each month. The best payment processors are also easy to use, offer good value with business solutions, and integrate with popular software. Plus, merchant accounts should be transparent and reliable.
If you’re launching a new venture or have sales volumes of less than $20,000 per month, you can’t go wrong with Square. Its all-in-one simplicity, low flat rates, and free POS business management tools make it practically unbeatable for most small business needs. Visit Square to create a free account.
Want help navigating your merchant account application?
Download our free merchant account application guide that walks you through the process, including tips for getting the lowest rates and contract clauses to watch out for.
Download Our Free Merchant Account Application Guide
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