Best Online Payment Processing App Review

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    Whether you're a small business or a big one, what remains true is the need for cashless payments and credit card processing—it's become the mark of modern businesses. The trick now is looking for the right payment processing service for your business.

    The best merchant services around are still around because of the thought they put into their service. You can see this with how they deal with customer service, business owners, and their payment systems.

    The thing is, not every business is built the same. In that same regard, we can say the same thing about even the best merchant services. The best merchant services for e-commerce may not be the same for a brick-and-mortar type.

    There are far too many options with different specialties. Some would be better with credit card processing for small business while the other focuses on more established businesses.

    It'll be hard to pick the absolute best credit card processing for 2020. That being said, that doesn't mean we can't pick out the cream of the crop.


    Top 10 Most Popular Online Payment Gateways

    1. PayPal

    The most established of them all comes first. Since its establishment, PayPal has become one of the forerunners of the online payment industry.

    From reliable flat rate to bank account integration options, PayPal remains to be the most popular for businesses. Particularly, the small business may be able to make the most of its services due to the predictable nature of their rates.

    Unfortunately, this does mean that the prices might be a little higher. It might be helpful to remind you then that the added fee you pay per month helps guarantee any and all transactions.

    Pros of choosing PayPal

    • Predictable flat rate
    • Trusted by credit card companies
    • Appropriate for a small business
    • Easy bank account integration

    2. Square

    You might know this company for developing, arguably, the best online credit card processing app.

    Square is a payment processing service that deserves to contest the title of best credit card processing for 2020.

    That's because the service itself is so approachable and is absolutely forgiving when it comes to small businesses. That's given Square the kind of influence you get when you try to be one of the best merchant services for e-commerce.

    In terms of pricing, you can expect to pay somewhere in the region of 2.6% + 10¢ per transaction. When you consider the fact that the basic plan comes with no added fee per month, you'd say that this is easily one of the most accessible.

    Pros of choosing Square

    • Accessible "Per transaction" rates
    • No monthly fee
    • Accept credit and debit cards
    • Applicable to e-commerce
    • Free first mobile card reader for credit and debit cards

    3. Amazon Payments

    When you own your own online retail giant, it stands to reason that your next step would be to provide your own payment gateway. That's exactly what Amazon did with Amazon Payments, a.k.a. Amazon Pay.

    Perfect as a debit or credit card processing for small business, Amazon focuses on e-commerce businesses. This makes it perfect for those strictly doing business online, like the users on their site.

    Pricing-wise, Amazon sticks to a similar model to Square's online payment pricing. At least this way small businesses can expect to spend very similarly with this credit card processing service.

    Pros of choosing Amazon Payments

    • Accessible "Per transaction" rates
    • No monthly fee
    • Appropriate for small businesses
    • Applicable for e-commerce

    4. Stripe

    When talking about credit card processors, credit card processing apps, and the like, Stripe remains unique in that they focus on developers. They don't simply cater just to developers; rather, they keep developers in mind with their customizable API.

    This means payment systems can be customized per page on an online marketplace. What this does is it gives online business owners more freedom when building a digital storefront.

    Again, with pricing, you can expect similar online per-transaction fees which makes things easier for small businesses. The kicker is that Stripe gives added consideration when dealing with a nonprofit, offering them a lower rate for their services.

    Pros of choosing Stripe

    • Accessible "Per transaction" rates
    • No monthly fee
    • Appropriate for small businesses
    • Caters to nonprofits

    5. Authorize.net

    Seeing as how we're talking about online payment processing, it should be easy to understand the need for multiple currency support.

    Credit card processors, credit card processing; none of that would matter if that particular currency won't be accepted.

    That's exactly what Authorize net chose to do with their service. To support that, Authorize net makes use of flat-rate pricing which they use to develop their extensive anti-fraud protection.

    The payment processing service is also known for its effective customer service. With this info, you can at least rest easy knowing that any issue will be handled as soon as possible.

    Pros of choosing Authorize net

    • Accepts multiple currencies
    • Predictable flat rate
    • No long term contract
    • Efficient customer service

    6. Helcim

    Making use of an interchange-plus pricing model, Helcim is able to keep things as transparent as possible with its clients. Feel free to browse their website as all rates are published for all to see. This is the reason why it is one of the most trusted credit card processors.

    To build on that, they also boast of rate guarantees. This means that the rates which you agreed to won't suddenly rocket without notice. This gives the business owners' peace of mind as it removes any unnecessary worry.

    For online transactions, the monthly transaction fees will revolve around the average of 0.50% + $0.25 above interchange. That's honestly not bad considering how competitive this business is.

    Pros of choosing Helcim

    • Trusted by both consumers and businesses
    • Accessible "Per transaction" rates
    • No long term contract
    • Rate guarantee

    7. Braintree

    Processing over $50 billion annually, this payment processing service had gotten so big that even PayPal wanted a piece.

    That's despite focusing on digital platforms for their service. With Braintree, you've got both payment gateways as well as payment processing services.

    Now, don't forget that PayPal ownsBraintree now. With that being said, you can expect seamless integration with PayPal services.

    As far as pricing goes, Braintree's pricing options are still considerably accessible. That's taking into account the reach you get with that PayPal integration.

    Pros of choosing Braintree

    • Trusted by businesses
    • Accessible "Per transaction" rates
    • No monthly fee
    • No early termination fee

    8. Apple Pay

    While Apple Pay's main feature is meant to work for Near Field Communication (NFC) devices, it can still be used to facilitate online payments.

    Again, this can be connected with a bank account for seamless pay as you go situations. Add the mobile card option and you've got a complete kit for your business needs.

    Additionally, Apple makes use of its experience with tech-development to further improve its systems. For example, their token system makes sure that any and all transactions are secured.

    As a bonus for the consumer, using the Apple Card also makes them eligible to collect "loyalty points" when they shop. For the business owner, this means more reason for customers to shop.

    Pros of choosing Apple Pay

    • Trusted by businesses
    • Focus on security
    • Credit card rewards

    9. Merchant One

    Serving more than 100,000 merchants, it won't be hard to find Merchant One reviews. They've been around a while and for that, you can make the claim that these guys know what the credit card processing app business is about. All that with the option to go for an interchange-plus pricing model.

    You can maybe pin this on the fact that the company is an independent sales organization (ISO) under Fiserv. For the uninitiated, Fiserv is another payment processor that's established itself quite well.

    Merchant One reviews often talk about issues with pricing. For pricing matters, the company offers a combination of interchange-plus pricing options as well as tiered pricing. This should help interested parties understand how rates are computed for.

    Pros of choosing Merchant One

    • Trusted by businesses
    • Trusted network of payment processors
    • No automatic renewal of contracts

    10. Flagship Merchant Services

    Flagship Merchant Services is one of those merchant services that was acquired earlier on. Currently, they operate under iPayment which uses the acquired company as a reseller of its services. Regardless, they still remain as one of the more well-known merchant services.

    The great thing about this company is the lack of an early termination fee. This means nothing will lock you down should you feel the need to switch to other payment processing services.

    With that being said, applying for a merchant account with Flagship should still be well planned out. They do not publish their fees which means that interested businesses would do well to research and scrutinize any deal they are offered before anything.

    Pros of choosing Flagship Merchant Services

    • No long term contract
    • No setup fee
    • No application fees

    Accepting Online Payments: A Guide for eCommerce Sites

    Additional Resources

    PCI Security Standards Council, LLC

    The Payment Card Industry Security Standards Council (PCI SSC), LLC was originally established by the big payment cards of the previous generation. Now, they are in charge of defining the standards that the industry has to follow.

    The PCI SSC hosts literature covering the different aspects of the industry. Should you feel the need to reach out to them regarding certifications or otherwise, the contact page lists a few possible contact options.

    The world of finance is an interesting world when you take the time to learn from it. For expert advice and lessons from the professionals, check out ProcessingCard today!