Top-Rated Credit Card Processing Options in 2021

[2021's Reviews]

We are slowly moving into a cashless society where we no longer need physical money to pay for products and services. Nowadays most online and physical shops accept credit card payments. So which companies offer the best credit card processing methods?

That’s what we’ll be discussing in today’s article where we’ll be reviewing and comparing the top card processing options.

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1. Square

Are you looking for a processing service that offers built-in payment security and affordable hardware payments? Square is the card processing service you need to optimize your workflow and manage your transactions successfully. Square is rated as one of the top services for credit card processing in 2021 for companies of any size. Full Review

  • Free store website
  • Reliable online checkouts
  • Built-in payment security
VISIT SITE

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Are you looking for a processing service that offers built-in payment security and affordable hardware payments? Square is the card processing service you need to optimize your workflow and manage your transactions successfully. Square is rated as one of the top services for credit card processing in 2021 for companies of any size. Full Review

Ease of Use

★★★★★ 5/5

Features

★★★★★ 5/5

Integrations

★★★☆☆ 3/5

Cost

★★★★★ 5/5

2. Shopify

Shopify is one of the best payment processing software on the market. The company offers 24-hour support and has extensive online security. Furthermore, Shopify has over 100 alternative third-party gateways. The system is easy to operate, and the company has an excellent reputation. Full Review

  • 24-hour support team
  • Useful add-ons for e stores
  • 100 alternative third-party gateways
VISIT SITE

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Shopify is one of the best payment processing software on the market. The company offers 24-hour support and has extensive online security. Furthermore, Shopify has over 100 alternative third-party gateways. The system is easy to operate, and the company has an excellent reputation. Full Review

Ease of Use

★★★★★ 5/5

Features

★★★★☆ 4/5

Integrations

★★★★★ 5/5

Cost

★★★☆☆ 3/5

3. Fattmerchant

Save money and get paid faster with Stax by Fattmerchant's subscription-style payment processing. Accept every type of payment in this all-in one payment platform and pay one flat price. Stax by Fattmerchant has over 12,000 customers nationwide and has been ranked #1 payment processor by the U.S. News & World Report 3 years in a row. Full Review

  • Trusted by over 12,000 customers nationwide
  • Save an average of 40%
  • Free Equipment
VISIT SITE

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Save money and get paid faster with Stax by Fattmerchant's subscription-style payment processing. Accept every type of payment in this all-in one payment platform and pay one flat price. Stax by Fattmerchant has over 12,000 customers nationwide and has been ranked #1 payment processor by the U.S. News & World Report 3 years in a row. Full Review

Ease of Use

★★★★★ 5/5

Features

★★★★★ 5/5

Integrations

★★★☆☆ 3/5

Cost

★★★☆☆ 3/5

4. Sam’s Club

Sam’s Club has been offering its services since the early 2000s and many merchants and customers are happy with their credit card processing solutions. This credit card processor is suitable for online retailers and small businesses. One aspect you’ll appreciate about Sam’s Club is that they’re transparent with their pricing. So you won’t get unpredictable payments at the end of each month. Full Review

  • EMV compatible
  • Offers POS systems
  • Ecommerce support
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Sam’s Club has been offering its services since the early 2000s and many merchants and customers are happy with their credit card processing solutions. This credit card processor is suitable for online retailers and small businesses. One aspect you’ll appreciate about Sam’s Club is that they’re transparent with their pricing. So you won’t get unpredictable payments at the end of each month. Full Review

Ease of Use

★★★★★ 5/5

Features

★★★☆☆ 3/5

Integrations

★★★☆☆ 3/5

Cost

★★★☆☆ 3/5

5. Helcim

Helcim is an ideal service provider for small shops but also offers the best virtual terminal credit card processing. This is because you can accept transactions on the go making it ideal for mobile merchants. So, if you’re looking for an affordable payment solution for your business, Helcim is the service provider for you. Full Review

  • Hosted online store
  • Back-end processor from Elevon
  • Offers mobile and countertop card reader
VISIT SITE

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Helcim is an ideal service provider for small shops but also offers the best virtual terminal credit card processing. This is because you can accept transactions on the go making it ideal for mobile merchants. So, if you’re looking for an affordable payment solution for your business, Helcim is the service provider for you. Full Review

Ease of Use

★★★★★ 5/5

Features

★★★★★ 5/5

Integrations

★★★☆☆ 3/5

Cost

★★★☆☆ 3/5

6. Stripe

Stripe is one of the best small business credit card processing options you can get especially if you have an online store. The company offers integration with major credit card networks and it allows you to create your own fraudulent transaction prevention rules. It’s also great if you want to accept multiple currencies. Full Review

  • Supports multiple payment methods
  • Integrates with popular credit card networks
  • Create fraudulent transaction prevention rules
VISIT SITE

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Stripe is one of the best small business credit card processing options you can get especially if you have an online store. The company offers integration with major credit card networks and it allows you to create your own fraudulent transaction prevention rules. It’s also great if you want to accept multiple currencies. Full Review

Ease of Use

★★★☆☆ 3/5

Features

★★★★★ 5/5

Integrations

★★★★★ 5/5

Cost

★★★☆☆ 3/5

7. Flagship Merchant Services

Flagship Merchant Services is a credit card processor with excellent data security compliance, and they offer interchange-plus pricing. This service provider is suitable for small merchants who need a robust processor to help them manage their accounts. You can accept payments no matter where you are thanks to the mobile payment processor. Full Review

  • Integrated Clover Suit Line
  • Offers mobile payment processing
  • Provides one free transaction terminal
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Flagship Merchant Services is a credit card processor with excellent data security compliance, and they offer interchange-plus pricing. This service provider is suitable for small merchants who need a robust processor to help them manage their accounts. You can accept payments no matter where you are thanks to the mobile payment processor. Full Review

Ease of Use

★★★★★ 5/5

Features

★★★★★ 5/5

Integrations

★★★☆☆ 3/5

Cost

★★★☆☆ 3/5

8. CreditCardProcessing

You’ll appreciate that there’s no application setup fee when you sign up to CreditCardProcessing.com. The company offers excellent customer support whenever you need it. You can manage your accounts effortlessly through QuickBooks and the terminals accept NFC and EMV transactions. Full Review

  • QuickBooks integration
  • NFC and EMV acceptance
  • Offers online payment gateway
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You’ll appreciate that there’s no application setup fee when you sign up to CreditCardProcessing.com. The company offers excellent customer support whenever you need it. You can manage your accounts effortlessly through QuickBooks and the terminals accept NFC and EMV transactions. Full Review

Ease of Use

★★★★★ 5/5

Features

★★★★★ 5/5

Integrations

★★★★★ 5/5

Cost

★★★★★ 5/5

9. National Bankcard

National Bankcard is one of the most compliant credit card processors you can get. The service provider has mobile payment solutions as well as POS systems. Use the integrated QuickBooks service to manage your accounts and turn paper checks into digital payments. This is an excellent service provider if you want paperless payment solutions. Full Review

  • Loyalty and text club
  • QuickBooks integration
  • Turn paper checks into digital payments
VISIT SITE

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National Bankcard is one of the most compliant credit card processors you can get. The service provider has mobile payment solutions as well as POS systems. Use the integrated QuickBooks service to manage your accounts and turn paper checks into digital payments. This is an excellent service provider if you want paperless payment solutions. Full Review

Ease of Use

★★★★★ 5/5

Features

★★★★★ 5/5

Integrations

★★★★☆ 4/5

Cost

★★★★☆ 4/5

10. Payline

Payline is one of the highest quality credit card processing options 2021 has to offer for ecommerce sites. The company also has POS services for physical shops, as well as transparent interchange-plus pricing. The company provides excellent customer support and it’s user-friendly. Full Review

  • Get emails and text receipts
  • See the entire transaction history
  • Accept swipe, chip, contactless payments
VISIT SITE

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Payline is one of the highest quality credit card processing options 2021 has to offer for ecommerce sites. The company also has POS services for physical shops, as well as transparent interchange-plus pricing. The company provides excellent customer support and it’s user-friendly. Full Review

Ease of Use

★★★★★ 5/5

Features

★★★★☆ 4/5

Integrations

★★★★☆ 4/5

Cost

★★★★☆ 4/5

Our Methodology

To evaluate the card processing companies we considered their features, integrations, ease of use, hardware, pricing, and customer support.

Top Credit Card Processing Options

Square
Square
Square

High Quality Credit Card Processing Reader

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  • Free store website
  • Reliable online checkouts
  • Built-in payment security
  • Has predictable flat-rate pricing
  • Offers affordable hardware for payments
  • Feature-rich system
  • Connection issues
  • Not suitable for big corporations or high-risk industries

Square is one of the most well-known and feature-rich credit card processing systems on the market. This service provider is perfect for small one-person operated shops as well as for enterprise corporations. Square is a user-friendly service provider that allows multiple payment options.

Features

Square offers multiple payment options such as contactless NFC, cash transactions, and a mobile card reader. What’s more, the Square system allows you to make use of electronic signatures and receipts which give you a paperless environment.

Integrations

The Square credit card processor can be integrated into many types of e-commerce sites such as Wix or Weebly. You can effortlessly integrate this credit card processor with your online payment platform.

Ease of Use

The Square credit card processor is one of the easiest systems to use. Most people prefer to use Square because it can be integrated into various e-commerce sites. The site even gives you tips on how you can train your staff to use the system correctly.

Startup Cost, Fees, Upgrades

There are no startup costs when you sign up with Square and the company offers affordable fees for each transaction. It’s one of the top-rated companies for credit card processing in 2021 due to its affordable price.

Customer Support

Square offers customers excellent customer support. You can rest assured that all your customers’ banking details are kept safe because there are end-to-end encryptions on each transaction. Square has HIPAA compliance and PCI compliance.

You can read the full review of Square here

Startup Cost Starts at 0%/month for unlimited devices
Monthly Fee $60 per month
Swiped/Chipped Transaction Fee 10c
Integrations Integrates into any e-commerce site such as Weebly or Wix
Mobile App Offers a free POS mobile app
Shopify
Shopify
Shopify

Best for Contractors

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  • Useful add-ons for ecommerce stores
  • 100 alternative third-party gateways
  • 24-hour support team
  • User-friendly operation
  • Has high-quality design
  • Suitable for small and big businesses
  • Not suitable for small businesses
  • Charges transaction and processor fees

Shopify is an e-commerce software that allows you to build your own online shop. On the other hand, the software company also provides a credit card processing service. It’s one of the best payment processing software services because it offers all-in-one payment features.

Features

Shopify has a fraud analysis feature that reduces the number of chargebacks on the system. Additionally, there’s a tool that calculates shipping rates in real-time and helps track your shipments.

There’s a Shopify POS that allows you to process transactions in person, on a mobile device, or tablet. Shopify also has a certified card chip reader for quick and easy in-person transactions.

Integrations

Shopify allows over 100 integrations for third-party sites such as PayPal and to expand on sites such as eBay or Amazon.

Ease of Use

Customers love how easy it is to make payments through Shopify credit card payment processing. You don’t need to be tech-savvy to make a transaction through the system. Shopify payments and management systems are located in your admin panel so you can access them easily.

Startup Cost, Fees, Upgrades

Shopify offers a basic startup for $29. The company also has a low transactional fee of 30c for online transactions but no fees for in-person transactions. You can upgrade your payment plan to Shopify Plus if you’re running an enterprise.

Customer Support

Shopify offers 24/7 customer service via live chat, phone, or email.

Startup Cost $29
Monthly Fee $29 per month for the basic plan
Swiped/Chipped Transaction Fee 30c
Integrations Over 100 other payment solutions including PayPal
Mobile App Connects Shopify portable hardware to mobile devices
Fattmerchant
Fattmerchant
Fattmerchant

Best Choice for Restaurants

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  • Excellent invoice and billing features
  • Trusted by over 12,000 customers nationwide
  • Save an average of 40%
  • Free Equipment
  • Funds reflect within 24 hours
  • No percentage markup rates
  • Integrations are weak
  • Only works for US-based merchants

Fattmerchant is one of the top companies for credit card processing to use for restaurants, bars, and retail stores. It’s also suitable for salons and for large hotels. Fattmerchant allows multiple payment solutions for big and small businesses.

Features

There are many beneficial features that Fattmerchant has that many other affordable credit card processors don’t have. Fattmerchant offers you a billing portal, tax calculator, online invoice, and payments as well as customizable invoicing.

Integrations

Fattmerchant offers over 100 integrations from third-party companies including Aloha and Micros.

Ease of Use

Fattmerchant is a credit card processor that offers effortless operation and makes transactions a breeze. You’ll have complete access to your transaction history so you can monitor payments. Additionally, if you want to move from a previous service provider Fattmerchant makes the process hassle-free.

Startup Cost, Fees, Upgrades

Fattermerchant undoubtedly offers the lowest credit card processing fees. The startup cost for Fattmerchant users is $99 but they also have low transaction fees between 8c and 15c for chipped cards or swipes.

Customer Support

Fattmerchant has live online support 24/7 so if you’re experiencing any difficulties with your system you’ll get a quick response to assist you.

Startup Cost $99
Monthly Fee $99/month
Swiped/Chipped Transaction Fee 8c to 15c
Integrations Over 100 integrations including Micros and Aloha
Mobile App Mobile app available for iOS and Android users
Sam’s Club
Sam’s Club
Sam’s Club

Best for Online Shops

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  • Upfront about their pricing plans
  • Offers POS systems
  • Ecommerce support
  • EMV compatible
  • Comprehensive line of Clover products
  • The platform is easy to operate
  • Suitable for small businesses
  • Poor customer service
  • Deceptive sales marketing tactics

Sam’s Club is a merchant services credit card processing provider located in Arkansas. Since the company’s inception, it has provided services to over 50,000 successful merchants. This credit card service provider is suitable for small businesses because it offers a variety of POS systems.

Features

Sam’s Club credit card processing service offers mobile support with the Clover Go app and card reader. This app is free and compatible with iOS and Android devices, and it supports EMV payments. You can connect the app to any phone via Bluetooth.

This service provider also offers e-commerce support because it’s designed with online retailers in mind. Sam’s Club provides countertop terminals for physical shops. These terminals are EMV compliant and have color touch screens.

Integrations

To support mobile operations and e-commerce payment solutions Sam’s Club uses the Clover Go app.

Ease Of Use

According to credit card processing comments, Sam’s Club is an easy service provider to use for both the merchant and the customer. Transactions are done quickly so that there are no queues in your shop and the systems are user-friendly.

Startup Cost, Fees, Upgrades

The startup cost is $19 with flat-rate processing. For each transaction of swipes or chipped cards, you’ll get charged 15c.

Customer Support

Unfortunately, Sam’s Club doesn’t have an excellent reputation when it comes to its customer support services. However, the company does offer 24/7 support through live chats. You can also phone Sam’s Club for any questions or problems you’re experiencing with your system.

Startup Cost $19 with flat-rate processing
Monthly Fee $5
Swiped/Chipped Transaction Fee 15c
Integrations Integrates with apps from Clover market
Mobile App Offers mobile processing with Pogo
Helcim
Helcim
Helcim

Best for Large Transactions

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  • Offers mobile and countertop card reader
  • Top credit card processing options
  • Back-end processor from Elavon
  • No long-term contracts
  • Suitable for international transactions
  • Hosted online store
  • Processing costs decrease when your businesses grow
  • Not suitable for high-risk companies
  • High monthly fees

Helcim offers great credit card processing for small to midsize businesses. You can accept credit card payments through Helcim with ease. As a result, it reduces the time clients have to wait in line inside your shop and allows you to keep track of your accounts.

Features

Transactions reflect within a day except when the Federal Reserve Bank is closed or transactions fall on a Saturday or Sunday. Helcim offers a billing portal, excellent contact database, multi-currency payments, and a tax calculator.

This credit card processor also provides mobile payment solutions with one of the highest-rated credit card processing applications for small businesses so you can accept transactions on the go. What’s more, there are online payment solutions for e-commerce sites.

Integrations

This credit card processor has QuickBooks accounting software integration so you can keep track of all your transactions and taxes.

Ease of Use

The Helcim processor offers a straightforward payment solution that’s easy to set up and that’s user-friendly. There are minimal connection problems when using terminals and the design of the hardware allows for quick card payments by swiping, scanning, or keyed transactions.

Startup Cost, Fees, Upgrades

Helcim is one of the most affordable credit card processing service providers you can get. They offer the first month for free. After that, you will pay $20 a month. Each card transaction will cost you 8c which is an excellent low rate.

Customer Support

Helcim offers clients 24/7 support through live chats that help you when you need assistance fast.

You can read the full review of Helcim here

Startup Cost First three months free
Monthly Fee $20
Swiped/Chipped Transaction Fee 8c
Integrations QuickBooks integration
Mobile App Offers a payment app for mobiles and tablets
Stripe
Stripe
Stripe

Best Credit Card Payment Gateway

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  • Allows you to create your own fraudulent transaction prevention rules
  • Integrations with popular credit card networks
  • Supports multiple payment methods
  • Built-in tools to assist with fraud
  • Responds to queries within 48 hours
  • Fast and easy setup
  • You have to pay for direct support
  • Issues with canceled accounts

Stripe is one of the most popular credit card processors on the market. This system uses tokenization to collect bank account details directly from customers in a secure way. The process ensures that your system operates with PCI compliance in mind. Look at the top 10 credit card processing options for small business and you’ll be sure to find Stripe on the list.

Features

Stripe has many highly beneficial features. Issuing bank statements is easy thanks to the billing portal. The processor has a multi-currency operation so you can accept payments from all over the world. There are online invoicing and payments for e-commerce sites.

Furthermore, Stripe has a built-in tax calculator so you can manage your taxes.

Integrations

There are over 100 integrations and plug-ins through third-party platforms such as X-Cart, Wix, and Weebly.

Ease of Use

Reviews of credit card processing state that learning how to use the system takes time, but Stripe offers its clients extensive training to help you along the way. Acquiring bank details from customers is done to ensure the security of your information.

Startup Cost, Fees, Upgrades

You can set up your hardware and software through Stripe for free. You’ll also appreciate that there are no monthly fees. However, there is a fee of 30c per transaction on a card.

Customer Support

Stripe has an excellent reputation for its customer support. If you have any problems with your system you can contact Stripe through live chat or email. Their responses are quick and helpful.

Startup Cost Free to set up
Monthly Fee No monthly fees
Swiped/Chipped Transaction Fee 30c
Integrations Plug-ins and integrations for over 100 third-party platforms such as X-Cart, Weebly, and Wix
Mobile App Offers mobile app support
Flagship Merchant Services
Flagship Merchant Services
Flagship Merchant Services

Best for Hotels

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  • Provides one free transaction terminal
  • Offers mobile payment processing
  • Application and setup are free
  • Integrated Clover Suit Line
  • User-friendly platform
  • Excellent customer service
  • Unpredictable tier pricing
  • Limited information on pricing

Flagship Merchant Services is a service provider that has the best flexible terms so you can select the rate model that’s ideal for your business. The company is suitable for most business types but it’s also the best online credit card processing service you can get. This makes it easier for you to set up your online shop.

Features

Flagship allows multiple credit card payment solutions, and the company offers various types of hardware for countertop transactions. You can opt for a mobile card reader and app so you can accept payments on the go. This makes the service perfect for when you’re setting up shop at a flea market or festival.

Integrations

The Flagship service provider uses Clover integration for their mobile payment solutions which allow for payment flexibility. Flagship has the top credit card processing app thanks to the integration with Clover.

Ease of Use

Flagship has an excellent reputation for how user-friendly its system is. Setting up is quick and effortless which also makes Flagship suitable for small businesses or people who aren’t tech-savvy.

Startup Cost, Fees, Upgrades

Flagship gets you up and running for free and will charge you a low monthly rate of $7.95. Every transaction for swipes or chipped cards will cost you 19c.

Customer Support

When reading other reviews about Flagship you’ll notice that they get excellent ratings on customer support. Each client gets assigned an agent that provides 24/7 support.

Startup Cost Free
Monthly Fee $7.95
Swiped/Chipped Transaction Fee 19c
Integrations Clover integration
Mobile App Offers mobile application
CreditCardProcessing
CreditCardProcessing
CreditCardProcessing

Best Choice for Festivals

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  • Offers online payment gateway
  • No setup or application fees
  • NFC and EMV acceptance
  • Excellent customer support
  • QuickBooks integration
  • Best for ecommerce sites
  • Excellent credit card processing equipment
  • No early termination fee
  • Unexpected monthly fee increase

CreditCardProcessing.com is accredited by the BBB and has an excellent rating on other lists of payment processing companies. The company is owned by iPayment which means you’ll have access to additional services such as advanced fraud management tools.

Features

CreditCardProcessing.com has a web-based credit card processing solution for e-commerce companies as well as card readers for countertop transactions. There are business management tools you can use to streamline admin work. The company also provides smart POS systems and wireless payment solutions.

Integrations

This top credit card processing service provider has QuickBook integrated into the system to help you manage your accounts. This allows you to manage your taxes and transaction history effectively.

Ease of Use

Setting up an account with CreditCardProcessing.com is fast and hassle-free. The terminals have an ergonomic design making them simple for you and your customers to operate. These terminals are compatible with multiple card networks so you can accept various payments.

Startup Cost, Fees, Upgrades

The CreditCardProcessing.com service provider offers a free account and gateway setup but will charge two monthly fees. $5 is for monthly statements and $7.95/month is your gateway fee.

Customer Support

There are articles on the company’s website for those who are looking for a quick and easy way to understand the services CreditCardProcessing.com provides. There’s also 24/7 telephone support if you’re experiencing any problems with your terminals.

Startup Cost Free account and gateway setup
Monthly Fee $5 monthly statement fee and $7.95 gateway fee
Swiped/Chipped Transaction Fee Various transaction fees
Integrations QuickBooks integration
Mobile App Offers mobile phone processing
National Bankcard
National Bankcard
National Bankcard

Best for Flea Markets

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  • Turn paper checks into digital payments
  • QuickBooks integration
  • Loyalty and text club
  • Affordable platform
  • Easy and fast setup
  • Offers mobile processing
  • Great credit card processing machine
  • Only offers long-term contracts
  • Not transparent with their rates

National Bankcard is one of the best credit card payment processors located in New York. This is another service provider that’s a reseller of iPayment and Total Merchant Service. The processor company is suitable for ecommerce sites as well as restaurants, bars, salons, and more.

Features

National Bankcard offers in-person transactions and allows payment solutions across multiple channels. You can process payments through the company’s mobile app which makes it perfect for companies that host events.

Integrations

National Bankcard is another company that has QuickBooks integration to help you manage your accounts and to optimize the administration processes.

Ease of Use

The terminals are set up by the National Bankcard company and they’re easy to operate for both customers and merchants. Setting up your e-commerce payment solutions with National Bankcard is hassle-free too.

Startup Cost, Fees, Upgrades

National Bankcard has some of the most popular credit card processing rates. The setup costs are free for hardware and software and there is a +. For every card transaction, there is a fee of 19c.

Customer Support

The company offers 24/7 customer service via telephone. So if you’re having any technical difficulties with your POS systems or online payment solution, simply call the company’s toll-free number.

Startup Cost No setup fee
Monthly Fee $5
Swiped/Chipped Transaction Fee 19c
Integrations QuickBooks integration
Mobile App Offers a mobile processing app
Payline
Payline
Payline

Best for Small Businesses

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  • Accepts swipe, chip, contactless payments
  • See the entire transaction history
  • Provides emails and text receipts
  • Excellent customer service
  • Transparent interchange-plus pricing model
  • Not suitable for international merchants
  • Hidden developer tools

Payline is a web based credit card processing solution for e-commerce sites. This service provider allows online retailers to process credit and debit card transactions safely. Payline is a service provider for any merchant looking for easy payment solutions.

Features

This credit card service provider accepts transactions from multiple credit and debit card networks as well as e-checks and ACH payments. Payline offers virtual terminals, payment gateway, and card readers.

Integrations

You can integrate Payline into over 175 online shops including Shopify thus placing it among the top credit card processing options for e-commerce sites.

Ease of Use

The Payline credit card processor has an excellent reputation for its ease of use. Payline is user-friendly and offers an encrypted vault for information storage.

Startup Cost, Fees, Upgrades

The startup cost is $10 which is also the amount for your monthly fees. Every transaction costs 20c and every swipe, 10c.

Customer Support

The company offers 24/7 live support which is ideal for online retailers. If you’re experiencing any technical difficulties with the Payline system, simply contact them.

Startup Cost $10
Monthly Fee $10 for in-store swiping

$20 for payments online

Swiped/Chipped Transaction Fee 20c for transactions

10c for swipes

Integrations Integrates with more than 175 online shops including Shopify
Mobile App Offers mobile credit card processing

What Is a Credit Card Processing Service?

A credit card processing service is one of the most important features of physical and online shops. This service allows the cardholder to make quick and easy payments for products and services using a credit card. It also allows customers to swipe their credit cards at a shop or save their card details on e-commerce sites for future purchases.

Types of Credit Card Processing

There are various card processing methods and some processing companies may offer more than one type. Here is a list of the types of credit card processing:

  • EMV readers
  • Checks
  • NFC
  • Debit card payments
  • Gift cards
  • Loyalty payments

It’s best to select a payment processing company that offers you a variety of options under one processor. You want to provide convenience for customers with different payment preferences.

Buyer’s Guide – What to Consider When Choosing a Credit Card Processor?

Before you can select the credit card processor for your business it’s important to first look at your company’s needs as well as what each platform has to offer.

✓ Company Needs

When searching for credit card merchant services to work with, consider what your company requirements are. Do you need currency exchange processors, front-end processors, or back-end processors? 

You may want to set up smartphone and tablet payment terminals that require mobile credit processors. However, you’ll need a data connection to process payments. Simply ensure that the credit card processor you opt for supports multiple merchant account types.

✓ Price and Fees (supporting fees, training fees)

When looking for the best payment processing services you must first consider the price and any extra fees that are attached to it. Sometimes there will be fees that you didn’t know about, which can have a negative effect on your business if you’re not aware of them.

So what type of fees can you expect from a credit card processor? Let’s take a look at the list below:

  • Transaction fees: When you accept card payments, your credit card processor may charge an interchange fee for every transaction. Typically these fees range between 1% and 4% over and above the total purchase amount. For example, when a client’s card is swiped through a reader, an interchange fee is charged by some processors. This fee can be 2.6%. The type of card and how the transaction is done may affect these fees.
  • One-time fees: A one-time fee will be the cost of hardware installation and application fees. These are common fees and will only need to be paid before or after your credit card processing is set up.
  • Training fees: There are some payment processor companies that provide training to merchants who don’t know how to use the system. You may have to pay for the training service but it will be well worth it.
  • Chip fee: Some companies may charge you more for hardware that can read chipped cards. Search for a company that offers lower chip fee rates.
  • Online fee: If you have an e-commerce site you may have to pay an online fee for your credit card processing services.
  • Monthly charges: Keep a lookout for monthly fees on statements or rental charges. You may pay between $21 and $100 per month for payment terminals.

✓ Equipment

If you have a physical shop you’ll need hardware such as payment terminals where people can swipe their cards for payment. The top credit card processing equipment should be compatible with all types of card transactions such as debit, credit, and loyalty card payments.

Make sure you have the budget for the type of hardware you need for your business. Ecommerce stores won’t need hardware but they will require a secure online credit card processor to complete transactions.

✓ Payment Availability (card processor; offline payments)

What are the available payment options that the credit card processor can offer you? Are you able to make offline payments when you don’t have an internet connection? You must select a top credit card processing option that will offer various payment options for you and your customers.

✓ Implementation and Training

Not everyone is tech-savvy, so you may need training from the credit card processing services provider. The company will show you how to set up the payment gateway and how to use the hardware for different types of transactions. It’s important to know how a keyed transaction works as well as how swiping, chip card processing and QR scans operate.

So when you get customers wanting to pay with various types of transactions you’ll know exactly what to do. This will improve your workflow and customers will appreciate your efficiency.

✓ Security and Compliance

Two aspects of credit card processors that you must never compromise are compliance and security. Every transaction should have point-to-point encryption for a secure payment network. The credit card processor you select to use must have a PCI compliance.

The best credit card payment processors will have extensive online security for e-commerce sites. It’s important that you select a credit card processor that has the proper compliance to avoid legal action against your business.

✓ Support and Available Hours

You may experience some technical difficulties every once in a while with your credit card processor hardware or online transactions. Make sure the processor company you select offers excellent and 24/7 customer support in case you’re experiencing problems with your system.

Best Credit Card Processing Companies at a Glance

Key Takeouts

Did you find the best option for you on our list of reviews? Our list of companies specializing in credit card processing gives you an overview of which service provider offers the most features at lower rates. 

The transaction solutions we provided in our payment processing companies list are all high-quality service providers that have excellent security. It’s important to select the correct one for the size and needs of your business. So which card processing service will you pick?

FAQ

What is the top credit card processing option?

There isn’t a simple answer to this question as the best company will depend on your company’s needs. However, our list of reviews includes only the highest-rated companies out there so be assured, whichever you pick, you will not regret it.

What is the best rate for credit card processing?

The lowest credit card processing rates are between 1% and 2.5%. There are card processing services that have rates as high as 4%. So ensure you pick a company that has a lower rate especially if you have a small business.

Which credit card processing is the cheapest for small business?

One of the top options for credit card processing for a small business is probably Fattmerchant because it’s affordable, and has a 0% markup rate. This service is feature-rich and includes free invoicing. Additionally, it comes with standard POS software. However, there are other great options for small businesses and they are listed in our reviews.

How do I choose a merchant credit card processing?

Decide what type of card processing you need and how you want to accept transactions. Look at reviews to find a company that offers good credit card processing fees. Or select three service providers and ask for quotes. Once you’ve chosen the best credit card processing service provider that offers you affordable rates and a feature-rich platform, consider taking out a month-to-month contract with them.