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10 Best Credit Card Processing Companies of November 2024

Last updated on October 23, 2024
Written By Lisa A. Anthony, Hillary Crawford

Lead Writer, Lead Writer

Edited By Ryan Lane

Assigning Editor

Consider your business’s specific industry needs, sales volume and whether it does more sales online or offline to find the right credit card processing company.
The best credit card processing companies have competitive and transparent pricing, accept a variety of payment types and commonly offer point-of-sale (POS) systems.
Here are some top credit card processing companies we especially like, along with a more exhaustive list below.
  • Square: Best all-in-one payment services.
  • Finix: Best subscription-based processor.
  • PayPal: Best for payment flexibility.

Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money.

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75+ categories of best business software selections.
Objective and comprehensive payment processing ratings rubric. (Learn more about our star ratings.)
NerdWallet's small-business software content, including ratings, recommendations and reviews, is overseen by a team of writers and editors who specialize in business software, including payment processing, accounting and payroll. Their work has appeared in The Associated Press, The Washington Post, Nasdaq, Entrepreneur, ABC News, Yahoo Finance and other national and local media outlets. Each writer and editor follows NerdWallet's strict guidelines for editorial integrity to ensure accuracy and fairness in our coverage.

Best Credit Card Processing Companies

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Best Credit Card Processing Companies

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Helcim

5.0 

Best for Volume discounts

Monthly fee
$0
Learn more

on Helcim's website

Helcim

Best for Volume discounts

5.0 
Monthly fee
$0
Learn more

on Helcim's website

Stripe

5.0 

Best for Global, online transactions

Monthly fee
$0
Learn more

on Stripe's website

Stripe

Best for Global, online transactions

5.0 
Monthly fee
$0
Learn more

on Stripe's website

Square

5.0 

Best for All-in-one payment services

Monthly fee
$0

Starts at $0/month for unlimited devices and locations.

Learn more

on Square's website

Square

Best for All-in-one payment services

5.0 
Monthly fee
$0

Starts at $0/month for unlimited devices and locations.

Learn more

on Square's website

National Processing

5.0 

Best for Low, flat-rate processing

Monthly fee
$10

for Basic In-Person Package.

Learn more

on National Processing's website

National Processing

Best for Low, flat-rate processing

5.0 
Monthly fee
$10

for Basic In-Person Package.

Learn more

on National Processing's website

Chase Payment Solutions℠

4.5

 

Best for Built-in banking partner

Monthly fee
$0

Monthly fee in some instances.

Learn more

on Chase's website

Chase Payment Solutions℠

Best for Built-in banking partner

4.5

 
Monthly fee
$0

Monthly fee in some instances.

Learn more

on Chase's website

Payment Depot

4.5 

Best for Tailored interchange-plus rates

Payment processing fees
0.2% + $0.00

to 1.95%, plus interchange.

Monthly fee
$0
Learn more

on Payment Depot's website

Payment Depot

Best for Tailored interchange-plus rates

4.5 
Payment processing fees
0.2% + $0.00

to 1.95%, plus interchange.

Monthly fee
$0
Learn more

on Payment Depot's website

Shopify Payments

4.5 

Best for Online retail businesses

Monthly fee
$39

Basic plan; $105 Shopify plan; $399 Advanced plan.

Learn more

on Shopify's website

Shopify Payments

Best for Online retail businesses

4.5 
Monthly fee
$39

Basic plan; $105 Shopify plan; $399 Advanced plan.

Learn more

on Shopify's website

Finix

5.0

 

Best for Subscription-based pricing

Monthly fee
$79

and up.

Learn more

on Finix's website

Finix

Best for Subscription-based pricing

5.0

 
Monthly fee
$79

and up.

Learn more

on Finix's website

PaymentCloud

4.5 

Best for High-risk businesses

Payment processing fees
2.4% + $0.10

to 3.5% + $0.25 on average.

Monthly fee
$0

to $50.

PaymentCloud

Best for High-risk businesses

4.5 
Payment processing fees
2.4% + $0.10

to 3.5% + $0.25 on average.

Monthly fee
$0

to $50.

PayPal

5.0 

Best for Payment flexibility

Monthly fee
$0

Standard; $5 Payments Advanced; $30 Payments Pro.

Learn more

on PayPal's website

PayPal

Best for Payment flexibility

5.0 
Monthly fee
$0

Standard; $5 Payments Advanced; $30 Payments Pro.

Learn more

on PayPal's website

Our picks for best credit card processing companies

Square

Best for all-in-one payment services
Why our editorial team chose it: Square stands apart from the competition with its flat-rate pricing and end-to-end payment processing solution. This means it handles most aspects of a credit card transaction, so you don’t need to purchase a payment gateway (a payment processing portal) or point-of-sale system from separate providers. Square provides a free credit card reader that works with its free app and a smartphone or tablet. Read our full Square review.

Helcim

Best for volume discounts
Why our editorial team chose it: Helcim's pricing model is transparent, with no hidden fees. It uses interchange-plus pricing with volume-based discounts, making it a particularly cost-effective option for businesses with high monthly sales. The company has customer support available by phone, as well as comprehensive support resources on its website. Read our full Helcim review.

Stripe

Best for global, online transactions
Why our editorial team chose it: Stripe enables your business to accept a wide range of online payment methods, including mobile wallets like Apple Pay, Google Pay and Alipay. It also lets you offer financing options to customers through "buy now, pay later" companies like Klarna and Afterpay. Read our full Stripe review.

Finix

Best for subscription-based pricing
Why our editorial team chose it: If you’re looking for a credit card processing company that takes your individual situation into account and works with you in a one-on-one capacity, Finix is worth considering. You’ll get matched with a dedicated implementation manager, and there are no long-term contracts. Read our full Finix review.

PayPal

Best for payment flexibility
Why our editorial team chose it: Business owners who value brand familiarity and feel more comfortable going with a company that has a longstanding reputation should look into PayPal. Its in-person processing rates are low compared to the competition, and you can use PayPal to accept mobile wallet and QR code payments. Read our full PayPal review.

National Processing

Best for low, flat-rate processing
Why our editorial team chose it: With low processing fees, no long-term contracts and lots of integration options, National Processing can be a good option for businesses looking for a flat-rate processor. Just make sure to speak with a representative before signing up to find out whether you qualify for perks like a free terminal or other promotions. Read our full National Processing review.

Payment Depot

Best for tailored interchange-plus rates
Why our editorial team chose it: Whereas some interchange-plus competitors implement a consistent markup across the board, Payment Depot’s rates might be more negotiable, since they’re tailored to each individual business. Additionally, there are no setup or cancellation fees. Read our full Payment Depot review.

PaymentCloud

Best for high-risk businesses
Why our editorial team chose it: PaymentCloud works with businesses in high-risk industries, including those selling age-restricted products like tobacco and firearms; businesses that have high chargeback rates, such as electronics resellers; or those that may face a higher risk of fraud, such as finance companies. PaymentCloud also provides seven-days-a-week customer support for businesses in these industries. Read our full PaymentCloud review.

Shopify Payments

Best for online retail businesses
Why our editorial team chose it: Shopify Payments has competitive rates for payment processing and integrates directly with Shopify. Because you must have a paid Shopify plan to use its payment processing and POS solutions, Shopify Payments is a great fit for a business that already has a Shopify plan for e-commerce. Read our full Shopify Payments review.

Chase Payment Solutions

Best for built-in banking partner
Why our editorial team chose it: If you already have a business bank account through Chase, processing payments through the company can be a convenient option. Plus, you get access to same-day deposits when you use Chase’s Smart Terminal. Read our full Chase Payment Solutions review.

What is credit card processing?

Credit card processing involves authorizing and transferring funds between a customer’s issuing bank and a business’s merchant bank to complete a sale. It only takes a few seconds to authorize a customer’s credit card information, but the process doesn’t stop at the checkout line. After the card reader lets you know the customer’s credit card information has been approved, money moves from bank to bank via the settlement process, which usually takes at least one business day to complete.
Brick-and-mortars need software and hardware to accept credit card payments in-person — lots of credit card processing companies offer both. Square, for example, sells card readers and POS systems, plus monthly software plans that start at $0. As opposed to a physical card reader, online businesses need a payment gateway that lets customers securely enter their credit card information online and get it authorized. These generally come bundled together with payment processing services, too.

How to choose a credit card processing company

Starting out, look for credit card processing companies that can accommodate payments within each of your sales channels, whether those are online, in-person or both. If you prefer an all-in-one payment processor and POS system provider, rule out companies that don’t sell their own hardware (POS terminals, card readers, etc.).
Here are some additional factors to consider to choose the right credit card processing company for you.
  • Cost: On top of weighing payment processing fees and monthly subscription costs, look for credit card processing companies that don’t charge extra fees for setup, termination or PCI compliance
  • Deposit timing: Ideally, a credit card processing company will offer same-day or next-day deposits. That way, you don’t have to wait long for customers’ payments to show up in your bank account. 
  • Contracts: Switching credit card processing companies can be a pain, but you still want to leave the option open. Try to narrow your choices down to companies that don’t require you to sign a long-term contract. 
  • Customer service: Consider live chat and phone support options, as well as which days and times they’re available. If your business is open outside of normal business hours, it might be convenient to go with a product that offers around-the-clock support. 
  • Integrations: If your credit card processing company offers its own POS software, make sure it integrates seamlessly with your accounting system and any additional programs you use for other tasks, like inventory management. Also determine whether you need to integrate with e-commerce software and online shopping carts. 

💬 From our Nerds: Local credit card processing companies can be an option, too

"The options above serve businesses nationwide, but local processors with offices located near you should be on the table as well. Ask local small businesses in your industry which company they’re working with and whether they’d recommend them.
"In my case, I simply asked my neighbor.
"They work for a credit card processing company in town and said this lets them be on site quickly if there’s an issue. Companies without local offices often include 24/7 phone support, but they likely won’t be able to send someone out in person immediately. That being said, local processors might be compatible with just one POS system provider and, in general, have less resources than nationwide companies that serve thousands of businesses."
Hillary Crawford, lead writer covering small business

How much does credit card processing cost?

In general, credit card processing fees are made up of several different types of costs:
  • Interchange fees are paid to the issuing banks. 
  • Assessment fees are paid to the card networks. 
  • Payment processor fees are the “cuts” or “markups” that go toward the payment processing company for facilitating the transaction.  
  • Monthly subscription fees can cost upward of $99, but lots of companies don’t charge them. However, credit card processing companies that charge monthly fees may offer lower processing rates in exchange. 
If you aren't sure where to start and budget is top of mind, NerdWallet's list of the cheapest credit card processing companies is a good launching point.

Credit card processing pricing models

A calculator with cash next to it.
Flat rateMost of our top picks fall into this category. Flat-rate credit card processing companies bundle interchange, assessment and payment processor fees into one consistent rate that typically looks something like 2.6% plus 10 cents for in-person transactions. This model is easy to understand, and the sign-up process is typically quick.
Cash and coins.
Interchange plusAs opposed to packaging the different types of fees together, interchange-plus options disclose each transaction’s interchange fee and charge a consistent rate on top of it. This model is more transparent than flat-rate ones and can help high-volume businesses save money.
Cash with a green percentage sign on the top-right corner.
Subscription basedThis model often uses interchange-plus pricing, but charges an additional monthly fee on top of it in exchange for lower interchange markups. This is also a great option for high-volume businesses whose monthly payment processing fees would exceed the monthly subscription cost without reduced markups.

Methodology: How we rate payment processors

NerdWallet’s editorial team analyzes payment processors across seven categories and more than 30 subcategories by gathering data from company websites, speaking with company representatives and participating in product demos. We fact-check our data points regularly to ensure accuracy.

The category breakdown:

What our star ratings mean

Payment processors with 5 stars are outstanding. They offer competitive in-person and online processing rates, built-in POS system features and free software plans. Plus, they can accommodate a variety of business types. 
Payment processors with 4.0 to 4.9 stars are great to excellent. Typically, they have competitive pricing and robust POS features. However, they may have longer-term contracts or fall short when it comes to integrations and/or pricing transparency.
Payment processors with 3.0 to 3.9 stars may be good for specific types of businesses, but typically aren’t a universally great fit. Whereas 4-star processors are lacking in just a few areas, these processors fall short in more categories.
Payment processors with 2.9 stars or fewer don’t offer competitive rates or include the same core POS features that competitors do. We usually don’t recommend these products for small businesses.
Last updated on October 23, 2024

Methodology

NerdWallet’s ratings of payment processing providers rewards companies whose products and services are priced well and work in a variety of payment scenarios, among other criteria. Ratings are based on weighted averages of scores in several categories, including overall cost, hardware and software options, system capabilities, customer service, contract requirements and integrations. Learn more about how we rate payment processing providers.
These ratings are a guide, but fees, hardware, software and contract requirements can vary widely from business to business and provider to provider. We encourage you to shop around and compare several providers.
NerdWallet does not receive compensation for any reviews. Read our editorial guidelines.
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