24 Best Credit Card Processing Companies Reviewed For 2024
10 Best Credit Card Processing Companies Shortlist
Here's my pick of the 10 best software from the 25 tools reviewed.
Our one-on-one guidance will help you find the perfect fit.
Efficient payment processing can be a game-changer for your bottom line. These credit card processing companies not only simplify payments but also help reduce costs and maximize operational efficiency.
Price Comparison Chart
As you get started, I want to give you a bit of pricing information on the credit card processing companies I chose, in case you're working off a set budget.
| Tools | Price | |
|---|---|---|
| Stax Pay | From $99/month | Website |
| Shopify POS | Pricing upon request | Website |
| Payment Depot | From $79/month | Website |
| CardX by Stax | From $29/month | Website |
| Swipesum | From $50/hr | Website |
| Square Online | From $35/month and 2.9% + $0.30/transaction | Website |
| Helcim | From 0.50% + $0.25 per transaction | Website |
| Merchant One | From $13.95 plus 0.29% + 1.55% per transaction | Website |
| Clover | From 2.3% + $0.1 per transaction | Website |
| Podium | From $289/month (billed annually) | Website |
Compare Software Specs Side by Side
Use our comparison chart to review and evaluate software specs side-by-side.
Compare SoftwareOverview of the 10 Best Credit Card Processing Companies
Let’s dive into the 10 best credit card processing companies on the market. I’ll cover key features, strengths, weaknesses, and pricing, following a uniform structure.
Stax Pay is an all-in-one payment processing platform that caters to businesses and SaaS platforms with a focus on transparent pricing and dedicated in-house support. The platform delivers integrated payment and recurring billing solutions, ensuring compliance and offering the ability to pass on credit card processing fees through surcharging.
Why I picked Stax Pay: Stax Pay distinguishes itself with its integrated payment and recurring billing solutions tailored for businesses. It stands out due to its commitment to industry-leading compliance, the ability to handle seamless surcharging, and the simplification of payment acceptance for its users.
What makes Stax Pay different is its transparent pricing structure and the availability of real people ready to provide support. This approach to pricing and customer service is particularly important for businesses that need clear cost structures and reliable assistance.
Stax Pay Standout Features and Integrations:
Features include payment processing, customized invoicing, subscription billing, a virtual terminal, robust analytics, customer management, a developer-friendly API, inventory tracking, and multi-location support. Stax Pay also provides next-day funding, omni-channel payment solutions, point of sale options, and seamless integration with various business tools and software.
Integrations include Slack, Zapier, Microsoft Office, Google Suite, and CRMs. Additional integrations include mobile software development kits in Javascript and Python and a language-agnostic RESTful API.
Pros and cons
Pros:
- Versatile feature set
- High degree of customizability
- Subscription-based pricing
Cons:
- Primarily for U.S. markets
- Complex functionalities and configurations
Shopify POS is a point-of-sale system designed to integrate both in-store and online sales, catering to the needs of omnichannel retail businesses. It assists retailers in managing business operations, tracking payments, inventory, and customer data, and offers insights that are crucial for maintaining inventory levels and understanding customer preferences.
Why I picked Shopify POS: This company shines in its ability to provide a cohesive experience for credit card processing, leveraging Shopify's robust e-commerce infrastructure to offer seamless integration and secure transactions. It also distinguishes itself with its capacity for omnichannel selling, providing a smooth checkout experience and linking in-store with online sales.
This robust and integrated system eases daily operations, monitors payments, inventory, and customer information, and delivers insights that aid in enhancing efficiency and revenue growth.
Shopify POS Standout Features and Integrations:
Features that make this company stand out include its online inventory management which gives you the flexibility to pivot inventory to other locations or online based on performance. I also like its POS smart grid, which keeps your most-used apps, discounts, and products at your fingertips to speed up checkout.
Integrations include QuickBooks, Xero, Mailchimp, Klaviyo, LoyaltyLion, Yotpo, ShipStation, DHL Express, UPS, and Canada Post.
Pros and cons
Pros:
- Extensive third-party app marketplace for additional functionalities
- Direct credit card processing with competitive rates
- Seamless integration with Shopify's e-commerce platform
Cons:
- Additional fees for using external payment gateways
- Limited to countries where Shopify Payments is available
- Primarily benefits Shopify users, less so for non-Shopify merchants
Payment Depot, a merchant services company, offers payment processing for in-person and online transactions. It accepts all major credit cards and digital wallets.
Why I picked Payment Depot: Like Stax, which acquired it in 2021, Payment Depot doesn’t mark up credit card interchange rates. What’s more, it doesn’t charge setup, cancellation, or chargeback fees.
Payment Depot Standout Features and Integrations:
Standout features include virtual terminals, standard terminals, smart terminals, and a mobile credit card swiper. And because Payment Depot is owned by Stax, it also doesn’t add a markup to interchange fees.
Integrations include Authorize.net, Magento, WooCommerce, BigCommerce, Quickbooks, Opencart, Zencart, and Shopify.
Pros and cons
Pros:
- Processes online wallets
- Range of hardware (+ virtual terminal)
- No setup, chargeback, or cancellation fees
Cons:
- High monthly fees
- Few support resources
CardX by Stax is a payment processing tool that allows businesses to accept credit card payments at 0% cost, ensuring compliance with surcharging regulations. It offers online, in-office, and in-person payment processing solutions, enabling businesses to keep 100% of their credit card sales while automatically adhering to all rules and regulations.
Why I picked CardX by Stax: CardX by Stax stands out for its seamless surcharging compliance and automated compliance, making it easy for businesses to accept credit cards at 0% cost. This makes it the best choice for businesses looking for a payment processing solution that is fully compliant and allows them to keep all of their sales revenue. Additionally, the software ensures compliance with surcharging regulations and provides detailed transaction insights, helping businesses manage their finances more effectively.
CardX by Stax Standout Features and Integrations:
Features include transparent pricing, no hidden fees, compliance with surcharging regulations, easy integration, enhanced convenience, efficiency for businesses, customer support, real-time reporting, secure transactions, and fraud prevention tools.
Integrations include Stax Pay, Stax Connect, Stax Bill, Stax Processing, and Click to Pay.
Pros and cons
Pros:
- Custom branding options
- Multi-platform capability
- Seamless refund process
Cons:
- Not ideal for low-volume transactions
- Initial learning curve
Swipesum offers a unique approach to payment processing by acting as both a provider and consultant. Rather than committing users to a single payment processor, Swipesum’s platform is back-end agnostic, allowing businesses to choose from a range of top processors.
Why I picked Swipesum: I like that it's versatile and customizable, giving you access to any major processor from Swipesum's platform. This versatility makes it easy to adjust payment solutions as needed. Swipesum also offers statement audits and rate monitoring to ensure businesses always have the best rates possible. Their dedicated account managers provide white-glove service, making complex merchant service tasks more manageable and cutting back on costs associated with card payment processing.
Swipesum Standout Features and Integrations:
Standout features include its Staitment tool, which uses AI to monitor and minimize fees and identify disputes before they escalate. They offer free gateway setups for new users and provide engineering support for complex integrations. The platform also excels in providing hands-on assistance for chargeback management, helping businesses tackle disputes.
Integrations include Shopify, NetSuite, BigCommerce, WooCommerce, Magento, Stripe, Square, Clover, Lightspeed, Oracle, QuickBooks, and SAP.
Pros and cons
Pros:
- Processor-agnostic approach allows flexible provider options
- Supports chargeback management and fraud prevention
- AI-driven statement analysis for transparent fee management
Cons:
- Not ideal for businesses preferring a self-service setup
- Customized solutions can take longer to set up
Square Online is a platform that allows businesses to create and manage an ecommerce website, accept payments, and handle orders both online and in-store. It offers a user-friendly website builder, options for domain and email setup, and integration with other Square products like Point of Sale, Customer Directory, and Loyalty programs.
Why I picked Square Online: One of the key reasons I picked Square Online is its intuitive setup and user-friendly interface, allowing businesses to quickly establish an online presence without needing extensive technical knowledge. The platform offers customizable templates and a drag-and-drop editor, making it easy to create a professional-looking online store in minutes.
Furthermore, the integration with Square's POS system ensures that inventory and sales data are synchronized across both online and offline channels, providing a unified and efficient way to manage business operations. The platform also has robust and secure payment processing capabilities. It accepts all major credit cards, Apple Pay, and Google Pay.
Square Online Standout Features and Integrations:
Standout features include order management and multi-location management for easy inventory tracking in one place. It also has built-in SEO tools, shipping and other fulfillment options, and a mobile-ready design. Square Online also provides built-in tools for managing and tracking orders, as well as advanced reporting features that give business owners valuable insights into their sales performance.
Integrations include QuickBooks, Xero, Bookkeep, Facebook Ads, Google Ads, Squarespace, Thrive Inventory, Wix, WooCommerce, and more.
Pros and cons
Pros:
- Advanced reporting capabilities
- Built-in inventory management
- Flexible POS system
Cons:
- Limited design themes
- Limited payment options on free plan
Helcim is a payment solution that also offers invoicing and recurring payments. They tout their fee and rate transparency and give small businesses the tools to build and grow a database of customers.
Why I picked Helcim: Much more than a credit card payment processor, Helcim can function as an out-of-the-box business infrastructure. While it may not have the most advanced features, the combination of processor, POS, CRM, and online store gives new business owners a suite of tools to work with.
Helcim Standout Features and Integrations:
Standout features include a built-in POS system, as well as tools for inventory management. You can even use Helcim to build an online store, creating a centralized shopping and payment experience.
Integrations include Quickbooks, Magento, WooCommerce, and Foxy.io. There are few pre-built integrations, although Helcim offers an API for customization.
Pros and cons
Pros:
- Customer database
- PCI Level 1 service provider
- Included POS and inventory tool
Cons:
- Expensive at low sales volume
- Many prohibited industries
Merchant One is a financial services provider that specializes in payment processing solutions for businesses of various sizes and industries. The company aims to support businesses with quick approval processes, 24/7 customer service, and a focus on security and compliance with industry standards.
Why I picked Merchant One: Merchant One offers a range of payment solutions that enable credit card processing companies to accept various forms of payments from their customers. The services include the ability to process credit and debit card transactions, electronic check acceptance, and mobile payment solutions.
Merchant One Standout Features and Integrations:
Standout features include merchant services such as account setup, customer support, and compliance with payment card industry data security standards (PCI DSS) to ensure secure transaction processing. Merchant One also provides next day funding, meaning that transactions can be settled and funds can be deposited into an account on the following business day.
Integrations include Authorize.net, USAePay, Aloha, Maitre'D, Payeezy Gateway, Payflow Pro, Micros, and Paytrace Gateway.
Pros and cons
Pros:
- Offers recurring billing support
- Supports NFC and EMV technology
- Provides a variety of credit card terminals
Cons:
- Some potential for hidden fees
- Limited information on contract terms
Clover is a point-of-sale system, but it’s owned by payment provider Fiserv. Some other processors, including Flagship Merchant Services, are resellers of Clover hardware. Along with credit cards, Clover accepts Google Pay and Apple Pay.
Why I picked Clover: For small businesses, cutting down on complexity can save tons of time and frustration. A combined payment processor and POS can help get businesses up and running quickly.
Clover Standout Features and Integrations:
Standout features include processing not only credit cards, debit cards, and digital wallets, but also Venmo and PayPal. You can even scan and submit paper checks.
Integrations include Shopify, Magento, BigCommerce, Yelp, Time Clock, Payroll, Xero, Quickbooks, and WooCommerce.
Pros and cons
Pros:
- Reporting tools
- 24/7 phone support
- Rapid deposit
Cons:
- Complex pricing
- No free options
Podium is a cloud-based technology company. Originally named RepDrive, the platform was initially focused on providing reputation and review management tools for businesses. They then added text-based marketing and web chat functionality. In 2020, Podium added payments to its repertoire of features.
Why I picked Podium: Many local trade businesses, like plumbers and electricians, rely on word of mouth and reputation to grow revenue. They also have to collect payment in the field. Podium is a powerful combination of mobile payments and review management.
Podium Standout Features and Integrations:
Standout features include the ability to collect payment by subscription or even financing. With their text-based marketing, Podium also enables professionals to keep in touch with customers, collect payments, and solicit reviews, all from a smartphone.
Integrations include Lightspeed, ActiveCampaign, Freshbooks, Copper, Housecall Pro, Hubspot, Mailchimp, Quickbooks, ServiceTitan, Shopify, Squarespace, and Thumbtack. Podium offers 150 integrations as well as a developer portal to build new ones.
Pros and cons
Pros:
- Text-based transactions
- Reputation management tools
- Numerous trade software integrations
Cons:
- Poor customer service
- High monthly fees
Other Credit Card Processing Company Options
Along with my top picks, these are some other strong credit card processing options that didn’t make the list.
Related Financial Software
Let's say you've already found the credit card processing company of your dreams. Firstly, congrats. Secondly, you might as well use your newly found time to check out some of the other financial tools we've tested and evaluated.
- Accounting Software
- ERP Software
- Billing Software
- POS Software for Small Businesses
- Best Merchant Services
- Inventory Management Software
Credit Card Processing Company Selection Criteria
Here's how I determined the tools that would go on this list:
- I researched and compared credit card processing companies, to create an initial list of options.
- I considered common buyer needs and pain points—like price and payment security—to condense the list.
- Finally, I took a pass over the list, using the following evaluation criteria, to come up with the top ten options.
Core Functionality (25% of total weighting score)
To be considered for inclusion in this list, each solution had to fulfill these common use cases:
- Process payments securely
- Handle multiple currencies
- Generate detailed transaction reports
- Integrate with e-commerce platforms
- Offer fraud detection and prevention
Additional Standout Features (25% of total weighting score)
To help further narrow down the competition, I also looked for unique features, such as:
- Provide instant fund transfers
- Enable customizable payment pages
- Support for recurring billing and subscriptions
- Offer mobile payment solutions
- Provide virtual terminal capabilities
Usability (10% of total weighting score)
To get a sense of the usability of each system, I considered the following:
- Intuitive user interface
- Easy navigation
- Minimal learning curve
- Customizable dashboards
- Accessible customer support
Onboarding (10% of total weighting score)
To evaluate the onboarding experience for each platform, I considered the following:
- Availability of training videos
- Interactive product tours
- Comprehensive knowledge base
- Webinars for new users
- Onboarding templates and guides
Customer Support (10% of total weighting score)
To assess each software provider’s customer support services, I considered the following:
- 24/7 support availability
- Multiple support channels (phone, chat, email)
- Response time
- Quality of knowledge base and FAQs
- Availability of dedicated account managers
Value For Money (10% of total weighting score)
To evaluate the value for money of each platform, I considered the following:
- Competitive pricing
- Transparent fee structure
- No hidden charges
- Features offered for the price
- Flexibility in pricing plans
Customer Reviews (10% of total weighting score)
To get a sense of overall customer satisfaction, I considered the following when reading customer reviews:
- Overall satisfaction rating
- Frequency of positive feedback
- Commonly reported issues
- Likelihood of recommending the product
- Customer retention rates
Trends in Credit Card Processing Companies
In my research, I sourced countless product updates, press releases, and release logs from different credit card processing companies vendors. Here are some of the emerging trends I’m keeping an eye on:
Contactless Payments
Consumers are increasingly adopting contactless payments for their convenience and speed. This trend is driven by the integration of NFC technology into credit cards and the rise of mobile wallets. Companies like Visa and MasterCard have been expanding their contactless payment options to cater to this growing demand.
Virtual Credit Card Processing
Virtual credit cards are becoming more popular as they offer enhanced security for online transactions. These cards generate a unique card number for each transaction, reducing the risk of fraud. Many banks and fintech firms are now offering virtual credit card options to their customers.
Buy Now, Pay Later (BNPL)
The BNPL model is reshaping the credit card landscape by offering consumers the flexibility to pay for purchases in installments without interest. This trend is particularly appealing to younger consumers who prefer not to use traditional credit cards. Companies like Klarna and Afterpay are leading the way in this space.
Advanced Fraud Detection
As cyber threats evolve, credit card processing companies are investing in more sophisticated fraud detection and prevention technologies. AI and machine learning algorithms are being used to identify suspicious transactions in real-time. For example, American Express has enhanced its fraud detection capabilities to better protect its users.
Cryptocurrency Payments
Some credit card processing companies are beginning to support cryptocurrency transactions. This trend is still in its early stages but is expected to grow as digital currencies become more mainstream. Companies like Mastercard have announced plans to integrate cryptocurrency payments into their networks.
What Are Credit Card Processing Companies?
Credit card processing companies are vendors that offer digital solutions that handle electronic payment transactions, specifically those involving credit and debit cards. Their software plays a crucial role in facilitating secure and timely processing of payments, contributing to a more streamlined and convenient payment experience for both businesses and customers.
Some features you can expect from their services are payment gateway integrations, point-of-sale compatibility, secure transaction processing, fraud detection, and reporting tools. Most processors also support mobile payment options, such as ACH, Apple Pay, Google Pay, and Venmo.
How to Choose Credit Card Processing Companies
It’s easy to get bogged down in long feature lists and complex pricing structures. To help you stay focused as you work through your unique software selection process, here’s a checklist of factors to keep in mind:
| Factor | What to Consider |
|---|---|
| Scalability | Will this solution grow with your business needs? |
| Integrations | Does it integrate smoothly with your existing systems? |
| Customizability | Can you tailor the software to fit your specific needs? |
| Ease of Use | Is the interface user-friendly for you and your team? |
| Budget | Does the pricing fit within your financial constraints? |
| Security Safeguards | Does it offer the security features your business requires? |
| Customer Support | Is reliable customer support available when needed? |
| Transaction Fees | Are the transaction fees competitive and transparent? |
Features of Credit Card Processing Companies
When selecting credit card processing companies, keep an eye out for the following key features:
- Security measures: Protects sensitive card information using encryption and tokenization to prevent fraud and data breaches.
- Transparent pricing: Offers clear and straightforward fee structures without hidden costs, helping businesses manage expenses effectively.
- Customer support: Provides reliable and accessible customer service to quickly resolve any processing issues or questions.
- Integration capabilities: Easily integrates with various e-commerce platforms, accounting software, and other business tools for seamless operations.
- Mobile payment support: Enables businesses to accept payments through mobile devices, enhancing flexibility and customer convenience.
- Multi-channel payments: Supports various payment methods including online, in-store, and mobile, offering customers multiple ways to pay.
- Data analytics: Provides detailed transaction reports and insights to help businesses make informed decisions and track performance.
- Fast processing speed: Ensures quick authorization and settlement of transactions, reducing wait times for both businesses and customers.
- Fraud detection: Utilizes advanced algorithms and monitoring systems to detect and prevent fraudulent transactions.
- Customizable checkout: Offers adaptable payment solutions that can be tailored to fit the unique needs of different businesses.
Benefits of Credit Card Processing Companies
Implementing credit card processing companies provides several benefits for your team and your business. Here are a few you can look forward to:
- Increased sales: Accepting credit cards can boost sales by making it easier for customers to pay.
- Improved cash flow: Credit card payments are processed quickly, helping you get funds faster.
- Customer convenience: Offering credit card payments provides a convenient option for customers, which can improve satisfaction.
- Reduced risk: Using a credit card processing company can help decrease the risk of handling cash and checks.
- Detailed records: Credit card processing provides detailed transaction records, making it easier to track sales and manage finances.
- Security: Many providers offer fraud detection and prevention features, helping to secure transactions.
- Global reach: Accepting credit cards allows you to serve customers from around the world, expanding your market.
Costs and Pricing of Credit Card Processing Companies
Selecting credit card processing companies requires an understanding of the various pricing models and plans available. Costs vary based on features, team size, add-ons, and more. The table below summarizes common plans, their average prices, and typical features included in credit card processing companies solutions:
| Plan Type | Average Price | Common Features |
|---|---|---|
| Free | I'll give you a guess. | Basic transaction processing, limited customer support, and integration options. |
| Personal | $10–30/month (base fee) | Enhanced transaction processing, standard customer support, basic reporting tools, and some integration options. |
| Business | $50–100/month (base fee) | Advanced transaction processing, priority customer support, detailed reporting, multiple user accounts, and extensive integrations. |
| Enterprise | Custom pricing | Comprehensive transaction processing, dedicated account manager, advanced security features, custom integrations, and full API access |
People Also Ask
Still trying to make sense of credit card processing? Here are answers to some of the most common questions.
How much is a typical credit card processing fee?
A typical credit card processor will charge a fee of 1% – 4%. This includes processing fees, assessment fees, and interchange fees. While rates vary from one processor to another, they can also vary based on whether a transaction is online or in-person, as well as whether the customer is paying with a debit or credit card. Some processors charge a flat transaction fee (typically 5–50 cents) in combination with a percentage fee.
What is a payment service provider?
Payment service providers allow businesses to accept online payments by handling the behind-the-scenes process of moving money from a customer’s account to a business account. For businesses to accept online payments, they need a merchant account. A payment service provider operates one merchant account that is shared by multiple businesses.
Getting started with a payment service provider is usually faster and less expensive than using a merchant service provider. The drawbacks include transaction and volume limits and an increased risk of account freezes.
What is a merchant service provider?
Merchant service providers enable businesses to collect online payments by creating an individual merchant account for the business. When working with merchant service providers, the vetting and setup process takes longer than it would with a payment service provider. The upside is that you have more flexibility in negotiating rates, transaction volume, and operating fees.
What is the best credit card processor for a small business?
Even among small businesses, different industries and business models affect which credit card processor is best. Businesses should consider fees and processing rates, along with which channels they use for sales. A payment service provider, like Stripe, Square, or Stax, allows you to get started collecting payments quickly. Because it operates in 202 countries and supports more than 20 currencies and cryptocurrencies, PayPal is popular among small businesses with a global reach.
Can I accept international payments?
Most credit card processors allow you to accept international payments, but you should check with the provider. There may be additional fees for processing foreign transactions and converting currencies. Make sure to understand these costs to manage your pricing strategy effectively.
How long does it take to get funds in my account?
The time it takes to receive funds can vary by provider. Generally, you can expect to see funds in your account within 1-3 business days. Some providers offer faster deposits for an additional fee. Ask your processor about their funding times and any associated costs.
Are long-term contracts common?
Some credit card processing companies require long-term contracts, but there are lots of options that offer month-to-month agreements. Be sure to read the terms carefully and understand any early termination fees that might apply. It’s often better to choose a provider with flexible terms that suit your business needs.
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Don't Let Fees Eat Up Your Profits
If it were as simple as picking the single best credit card processing company and recommending it to everyone, this article would be much shorter. But choosing the right credit card processor can actually be a complex, multi-faceted decision.
When comparing vendors, you should consider not just the cost of a single transaction, but the overall processing costs, as well as your sales volume and channels. And, like any other technology, your processor needs to integrate with your other tools, be they hardware or software.
While different businesses have different needs, this list narrows down the field so you can focus on what matters to you.
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