Best Credit Card Processing Companies
Best Credit Card Processing Companies
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Pros
- Interchange-plus pricing structure can help businesses save money.
- Quick setup; approvals usually take a day.
- Offers volume-based discounts automatically.
- Syncs directly with QuickBooks Online and Xero.
- No termination fees or long-term contracts.
Cons
- Deposits are available within two business days; same-day deposit option is not available.
- Doesn’t offer services to businesses in certain high-risk industries.
Pros
- Interchange-plus pricing structure can help businesses save money.
- Quick setup; approvals usually take a day.
- Offers volume-based discounts automatically.
- Syncs directly with QuickBooks Online and Xero.
- No termination fees or long-term contracts.
Cons
- Deposits are available within two business days; same-day deposit option is not available.
- Doesn’t offer services to businesses in certain high-risk industries.
Pros
- Highly customizable online checkout options.
- No termination fees or long-term contracts.
- 24/7 phone and chat support.
- Can process transactions in more than 135 currencies.
Cons
- Doesn’t sell full countertop POS terminals.
- Deposits can take up to two business days.
Pros
- Highly customizable online checkout options.
- No termination fees or long-term contracts.
- 24/7 phone and chat support.
- Can process transactions in more than 135 currencies.
Cons
- Doesn’t sell full countertop POS terminals.
- Deposits can take up to two business days.
Monthly fee
$0
Starts at $0/month for unlimited devices and locations.
Learn more
on Square's website
Pros
- Offers a free mobile card reader and free POS software plan.
- Can subscribe to related services, such as payroll, that integrate with its POS system.
- No termination fees or long-term contracts.
- No chargeback or PCI compliance fees.
Cons
- Complex businesses might prefer a processor that integrates with more specialized POS systems.
Square
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
Pros
- Offers a free mobile card reader and free POS software plan.
- Can subscribe to related services, such as payroll, that integrate with its POS system.
- No termination fees or long-term contracts.
- No chargeback or PCI compliance fees.
Cons
- Complex businesses might prefer a processor that integrates with more specialized POS systems.
Monthly fee
$10
for Basic In-Person Package.
Learn more
on National Processing's website
Pros
- Low in-person processing fees for a flat-rate processor.
- No termination fees or long-term contracts.
- Works with high-risk merchants.
- New merchants may qualify for a free terminal.
- 24/7 phone support.
Cons
- Fees may be higher if you process less than $10,000 per month.
- Basic plans for processing in-person and online transactions are separate.
- Mobile card reader is pricier than some competitors.
National Processing
Best for Low, flat-rate processing
Monthly fee
$10
for Basic In-Person Package.
Learn more
on National Processing's website
Pros
- Low in-person processing fees for a flat-rate processor.
- No termination fees or long-term contracts.
- Works with high-risk merchants.
- New merchants may qualify for a free terminal.
- 24/7 phone support.
Cons
- Fees may be higher if you process less than $10,000 per month.
- Basic plans for processing in-person and online transactions are separate.
- Mobile card reader is pricier than some competitors.
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
Pros
- Two-in-one processor and acquiring bank.
- Free monthly plans available.
- Using your bank as your processor makes deposits convenient.
Cons
- Some hardware pricing is not readily available.
- No e-commerce integrations.
- Chase’s Business Complete checking account comes with a $15 monthly service fee for some merchants.
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
Pros
- Two-in-one processor and acquiring bank.
- Free monthly plans available.
- Using your bank as your processor makes deposits convenient.
Cons
- Some hardware pricing is not readily available.
- No e-commerce integrations.
- Chase’s Business Complete checking account comes with a $15 monthly service fee for some merchants.
Payment processing fees
0.2% + $0.00
to 1.95%, plus interchange.
Monthly fee
$0
Learn more
on Payment Depot's website
Pros
- Businesses save when customers use cards with low interchange rates.
- No cancellation fees.
- Compatible with several POS hardware providers, including Clover.
- 24/7 phone support.
Cons
- Markups vary by business
- Website doesn’t disclose hardware pricing.
Payment Depot
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
Pros
- Businesses save when customers use cards with low interchange rates.
- No cancellation fees.
- Compatible with several POS hardware providers, including Clover.
- 24/7 phone support.
Cons
- Markups vary by business
- Website doesn’t disclose hardware pricing.
Monthly fee
$39
Basic plan; $105 Shopify plan; $399 Advanced plan.
Learn more
on Shopify's website
Pros
- Accepts a variety of payment methods.
- Can customize checkout page.
- Easy to set up and use.
- Transparent, flat-rate fees.
Cons
- E-commerce plan with monthly fee is required to use Shopify Payments.
- Charges fee for use of third-party payment gateway.
Shopify Payments
Best for Online retail businesses
Monthly fee
$39
Basic plan; $105 Shopify plan; $399 Advanced plan.
Learn more
on Shopify's website
Pros
- Accepts a variety of payment methods.
- Can customize checkout page.
- Easy to set up and use.
- Transparent, flat-rate fees.
Cons
- E-commerce plan with monthly fee is required to use Shopify Payments.
- Charges fee for use of third-party payment gateway.
Pros
- No long-term contracts.
- Subscription model can help high-volume businesses save money.
- Transparent fee breakdowns.
- 24/7 emergency phone and email support.
Cons
- Limited POS hardware options.
- Lacks direct accounting software integrations.
Pros
- No long-term contracts.
- Subscription model can help high-volume businesses save money.
- Transparent fee breakdowns.
- 24/7 emergency phone and email support.
Cons
- Limited POS hardware options.
- Lacks direct accounting software integrations.
Payment processing fees
2.4% + $0.10
to 3.5% + $0.25 on average.
Monthly fee
$0
to $50.
Pros
- Works with high-risk businesses.
- Same-day deposits available for low-risk businesses.
- New merchants may qualify for a free terminal.
- 24/7 support.
Cons
- Website isn’t transparent about processing rates.
- May charge PCI compliance fees.
- Some plans require a contract and charge steep termination fees.
PaymentCloud
Best for High-risk businesses
Payment processing fees
2.4% + $0.10
to 3.5% + $0.25 on average.
Monthly fee
$0
to $50.
Pros
- Works with high-risk businesses.
- Same-day deposits available for low-risk businesses.
- New merchants may qualify for a free terminal.
- 24/7 support.
Cons
- Website isn’t transparent about processing rates.
- May charge PCI compliance fees.
- Some plans require a contract and charge steep termination fees.
Monthly fee
$0
Standard; $5 Payments Advanced; $30 Payments Pro.
Learn more
on PayPal's website
Pros
- One of the most commonly used payment processing platforms.
- Easy to use and integrate with website hosts and shopping carts.
- Transparent fixed fees in 25 currencies.
Cons
- PayPal’s offerings are vast and can be difficult to grasp quickly.
- Payment processing can be expensive for small purchases.
- Not ideal for high-risk or high-volume businesses.
PayPal
Best for Payment flexibility
Monthly fee
$0
Standard; $5 Payments Advanced; $30 Payments Pro.
Learn more
on PayPal's website
Pros
- One of the most commonly used payment processing platforms.
- Easy to use and integrate with website hosts and shopping carts.
- Transparent fixed fees in 25 currencies.
Cons
- PayPal’s offerings are vast and can be difficult to grasp quickly.
- Payment processing can be expensive for small purchases.
- Not ideal for high-risk or high-volume businesses.
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.
Payment processing fees:
- 2.6% plus 10 cents for in-person transactions.
- 2.9% plus 30 cents for online transactions.
- 3.5% plus 15 cents for manually keyed transactions.
- 3.3% plus 30 cents for invoices.
Monthly POS software fees:
- $0 for Square POS, Restaurant, Retail and Appointments Free plans.
- $29 for Square Appointments Plus plan.
- $69 for Square Appointments Premium and Square Restaurants Plus plans.
- $89 for Square Retail Plus plan.
- $165 for Square Restaurant Premium plan.
- Custom pricing for Square Retail plan.
Hardware costs:
- $0 for Square magstripe-only card reader ($10 for each additional reader) or if using Tap to Pay for iPhone (iPhone not included).
- $59 for Square Reader contactless and chip card reader.
- $149 for Square Stand iPad POS or Square Stand Mount (iPad not included; monthly financing available).
- $299 for Square Terminal mobile card reader with built-in printer (monthly financing available).
- $799 for Square Register two-screen system (monthly financing available).
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.
Payment processing fees:
- Interchange plus 0.4% and 8 cents per in-person transaction (if $50,000 or less in monthly card transactions).
- Interchange plus 0.5% and 25 cents per online or manually keyed transaction (if $50,000 or less in monthly card transactions).
- 0.5% plus 25 cents for ACH payments (capped at $6).
Monthly POS software fees:
- $0.
Hardware costs:
- $99 for a mobile card reader (with stand).
- $329 for a stand-alone terminal with built-in thermal printer (or 12 monthly payments of $30).
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.
Payment processing fees:
- 2.7% plus 5 cents for in-person transactions.
- 2.9% plus 30 cents for online transactions.
- 3.4% plus 30 cents for manually keyed transactions.
- 4.4% plus 30 cents for international card transactions.
Monthly POS software fees:
- $0 for standard services.
- $10 for custom domain.
Hardware costs:
- $59 for Stripe Reader M2.
- $249 for BBPOS WisePOS E card reader.
- $349 for Stripe Reader S700.
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.
Payment processing fees:
- 8 cents plus interchange for card-present transactions.
- 15 cents plus interchange for card-not-present transactions.
Monthly POS software fees:
- $79 and up.
- One-month free trial for NerdWallet readers.
Hardware costs:
Finix offers a variety of handheld terminals, card readers and keypads. Additional options are quote-based.
- $325 for the Sunmi P2 handheld terminal.
- $400 for the Sunmi P2 Smartpad.
- $425 for the PAX A77 handheld touchscreen terminal.
- $450 for the Ingenico Link 2500, PAX A35 and PAX A30 keypads.
- $500 for the PAX A920Pro handheld terminal and Ingenico Lane 3000 keypad.
- Equipment rentals start at $27 per month.
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.
Payment processing fees:
- 2.29% plus 9 cents for in-person credit and debit card payments.
- 2.59%-2.99% plus 49 cents for online credit and debit card payments.
- 3.49% plus 49 cents for PayPal Payments transactions (PayPal, Pay Later, Pay with Rewards, Venmo).
Monthly POS software fees:
- $0 for standard service.
- $5 for PayPal Payments Advanced.
- $10 for Advanced Fraud Protection service, buyer authentication service or recurring billing service.
- $19.95 for account monitoring service.
- $30 for Payments Pro, Payments Pro Payflow, Virtual Terminal or recurring payment tool.
Hardware costs:
- $29 for first card reader; additional readers cost $79. Price includes USB cable.
- $199 for terminal only.
- $239 for terminal with barcode scanner built in.
- $229 for Store Kit Mini (tablet stand with card reader and dock).
- $339 for Store Kit Portable kit with mobile card reader and printer.
- $479 for Store Kit Standard (tablet stand, card reader, dock and printer).
- $699 for Store Kit Plus (adds barcode scanner).
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 processing fees:
- Basic In-Person Package: 2.5% plus 10 cents per transaction.
- Basic E-Commerce Package: 2.9% plus 30 cents per transaction.
- Advanced Package: 2.41% plus 10 cents.
- Premium Package: quote-based.
Monthly POS software fees:
- $9.95 for Basic In-Person Package, Basic E-Commerce Package.
- $9.95 and up for Premium Package (for businesses with monthly sales volumes exceeding $30,000).
- $19 and up for Advanced Package.
Hardware costs:
Offers a variety of third-party POS systems, handheld terminals and a mobile card reader. Here are some of the choices:
- Pax E700 POS solution for $1,000 and up (must be subscribed to the Advanced or Premium plan).
- Clover Solo POS system for $1,900 and up (must be subscribed to the Advanced or Premium plan).
- Clover Flex handheld system for $700 and up (must be subscribed to the Advanced or Premium plan).
- SwipeSimple B250 mobile card reader for $99 and up.
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.
Payment processing fees:
0.2%-1.95% plus interchange.
Monthly POS software fees:
$0.
Hardware costs:
Quote-based.
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.
Payment processing fees:
Quote-based. You’ll have to call to get specific pricing information for your business, but average ranges are:
- 2.4% plus 10 cents for low-risk retail merchants.
- 2.8% plus 25 cents for medium-risk businesses, like e-commerce shops.
- 3.5% plus 25 cents for high-risk merchants.
Monthly POS software fees:
Quote-based, but ranges from $0 to $50.
Hardware costs:
Offers a variety of POS hardware products from Clover, Dejavoo, Ingenico, Pax, SwipeSimple and Verifone. Here are several options:
- $95 for the SwipeSimple Swift B200 EMV Bluetooth Swiper.
- $239 for the Ingenico Desk 1500 card reader.
- $260 for the Pax A80 Smart Keypad Card Terminal.
- $340 for the Verifone MX915 Terminal.
- $1,811.64 for the Clover Station Solo with printer.
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.
Payment processing fees:
- 2.5%, 2.7% or 2.9% plus 30 cents for online payments for Advanced, Shopify or Basic plan, respectively.
- 2.4%, 2.5% or 2.6% plus 10 cents for in-person payments for Advanced, Shopify or Basic plan, respectively.
Monthly POS software fees:
Shopify e-commerce plans:
- $29 for Shopify Basic when billed annually (or $39 when paid monthly).
- $79 for regular Shopify when billed annually (or $105 when paid monthly).
- $299 for Shopify Advanced when billed annually (or $399 when paid monthly).
- Custom pricing for Shopify Plus.
- All e-commerce plans come with POS Lite for selling in-person. Upgrading to POS Pro for brick-and-mortar businesses costs an extra $89 per location.
Shopify’s alternative solutions for mainly selling in-person:
- $5 for Starter plan, which includes one POS Lite location.
- $79 (when billed annually) for Retail plan, or $89 when paid monthly; includes one POS Pro location.
Hardware costs:
- $49 for Tap & Chip card reader.
- $219 for Tap & Chip countertop kit (iPad not included).
- $299 for Shopify POS Go mobile device.
- $349 for Shopify POS terminal.
- $459 and up for POS terminal countertop kits.
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.
Payment processing fees:
- 2.6% plus 10 cents for in-person transactions.
- 2.9% plus 25 cents for online transactions.
- 3.5% plus 10 cents for keyed transactions.
Monthly POS software fees:
- $0, though there may be a monthly fee in some cases.
Hardware costs:
Chase lists pricing for some products, like its terminals and card reader, but hardware costs aren’t readily available for other options. Instead, you’ll have to fill out an online form for more information.
- $79 for Chase card reader.
- $499 for Chase card terminal.
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.
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."
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
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:
To evaluate overall cost, we consider payment processing fees (for both in-person and online transactions), POS system costs and additional fees for PCI compliance, setup, chargebacks and account termination.
For convenience’s sake, we recommend payment processors that also offer POS software and hardware options in-house.
Payment processors should be able to process a wide variety of payment types and methods including digital wallets, credit and debit cards, invoice and e-commerce transactions. We also consider deposit timing and whether you can opt for same-day deposits.
This applies to processing fees, monthly subscription fees, hardware costs and additional fees for PCI compliance, setup and account termination.
NerdWallet’s evaluation process favors products that directly integrate with your accounting software and offer additional integrations for shopping carts, POS systems, etc.
Payment processors need to offer phone, chat or email support at a minimum. We give extra points to providers with 24/7 support.
Ideally, payment processors have free trials and month-to-month subscriptions. This isn’t a strict requirement, but providers do get dinged if they don’t offer these.
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.