In today’s world, accepting credit card payments is crucial for any business looking to thrive in the market. But with so many credit card processing companies out there, it can be overwhelming to decide which one to choose. That’s why we’ve compiled a list of the most reliable credit card processing companies in 2023. We chose them based on factors such as fees, security, customer service, and ease of use. There are a wide variety of choices available, and you can find the most reliable credit card processing companies with a quick search online right now.
Square’s easy setup process makes it a top choice for businesses that want to accept credit card payments quickly. Investopedia assures the company is fully compliant with all PCI regulations and leads in technology and security protocols, including end-to-end encryption. Square accepts all major credit cards, including internationally-issued cards.
With Square’s free credit card reader and POS app, anyone can accept payments on their smartphone or tablet. You can choose between a free plan (transaction fee only), pay a one-time fee, or spread the costs over 12- to 24-months, notes the source.
Other benefits of Square are their variety of hardware options and plenty of integrations, adds the source. You get a free point-of-sale system compatible with Apple and Android devices, along with loyalty programs, payroll services, website design, and scheduling software.
Stax is a payment processing company that stands out for its unique subscription-based pricing model, says Forbes Advisor. With Stax, customers pay a monthly fee starting at $99 based on their monthly credit card processing volume, and a low per-transaction fee ranging from 3 to 10 cents.
The company even provides add-ons such as QuickBooks Online Pro Sync and same-day funding, adds Forbes Advisor. While Stax offers its own customizable countertop terminals, it can also integrate its software with other terminals, most POS systems, and other business tools.
According to U.S. News & World Report, National Processing ranks as the second best company for small businesses. The reason for this is because they offer a variety of plan types suitable for different industries and budget requirements. Monthly subscriptions range from $9.95 to $199 in addition to a percentage markup and interchange rate based on transaction volume.
They tailor their plans to different industries and business types. For example there are specialized options for restaurants, retail, e-commerce, and nonprofit organizations, says the source. A wide range of hardware options are available, as well as bundled packages that provide a complete suite of POS equipment capable of handling large transaction volumes.
Payment Depot stands out from other credit card processing companies by using a subscription pricing model based on monthly transaction volume, instead of taking a percentage of each transaction. Their pricing plans range from $59 to $99 per month, depending on annual transaction volumes of $125,000 to $500,000. Additionally, businesses pay a low fee of 7 to 15 cents per transaction plus the interchange rate, notes the source.
For higher-volume businesses, monthly and per-transaction fees can be negotiated. This pricing structure, which is fixed rather than percentage-based, can be particularly beneficial for companies processing high volumes of credit card transactions.
Some additional benefits are no cancellation or hidden fees and that businesses can access funds within 24 to 48 hours. The company also offers various terminals, credit card readers, and POS systems, with 24/7 customer support available.
Stripe has been a top-rated online payment service provider since 2010. They even won the title of best e-commerce processors thanks to their flat rates and customization options, notes Investopedia. Their flexibility enables easy integration with various business systems. As a PCI Level 1 Service Provider, Stripe ensures safety through their various security measures, all of which adhere to the latest regulations, says the source.
The company accepts various credit cards and digital payment types and can process them seamlessly with existing hardware and software. This includes hundreds of features and integrations, including pre-certified third-party equipment and card readers.
Other highlights are their 24/7 customer service and ability to accept all mobile and wallet payments. While there’s a waiting period for first payments, it typically only takes two days. However, high-risk businesses must wait 14 days for payment, and fraudulent activity may result in a hold.
Unlike other companies, Helcim does not levy a monthly fee for its credit card processing services. Instead it utilizes interchange-plus pricing with estimated average rates of 1.92% plus 8 cents for in-person credit card transactions and 2.38% plus 25 cents for keyed and online purchases. Helcim provides transparent and readily available full pricing information.
Helcim’s integrated payment tools and ease of use make it an attractive option for various businesses. However, its limited hardware options may be a hindrance for those without the required equipment. Additionally, the lack of integrations with third parties could be a problem for those with existing relationships at other services.
Find The Right Fit Today!
From Square’s user-friendly features to Helcim’s unique pricing approach, there’s a solution tailored to fit every business’s needs. Factors like fees, security measures, customer support, and adaptability are crucial when selecting a company, and each option on the list presents its strengths and potential drawbacks.
Businesses should weigh their specific needs against the features and benefits of each company. Remember, in the ever-evolving digital landscape, aligning your business with the right credit card processing company can not only enhance customer experience but also bolster your company’s growth trajectory.