As a small business owner, investing in credit card processing for your brand can be a significant expense for your company. However, 2020 statistics from Statista show that the credit card was the most popular payment method in the United States, with 38% of users displaying this preference. Because of this, establishments that accept credit cards are at an advantage.
However, choosing the right merchant services provider can be tricky. To help you find the best credit card processing services for your brand, here are some of the top companies that offer ease of use, transparent pricing, third-party integrations, effective customer support, and more.
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Finding the top credit card processors for your business means taking your budget into account in relation to security, credit card processing fees, whether you pay a fixed monthly fee, and whether it is compatible with your existing processing equipment.
Square is one of the most popular companies that can enable your growing business to accept credit card payments. Their technology is easy to set up within minutes, and they can provide a free point of sale (POS) system depending on the plan you choose. They also offer advanced end-to-end encryption online, providing maximum security for your customers.
For organizations that are more established, Helcim is a great option for those looking for merchant services with interchange-plus pricing. It provides discounts and rewards for those with high transaction volumes, and they're also known for their high quality of customer service and relatively low account fees. However, they have a limited selection of POS systems.
Stripe is one of the most reputable credit card processing companies that offer mobile processing. This makes them a great option for e-commerce companies, due to their flexible options and flat-rate plans. They also provide plenty of integrations including e-commerce platforms, accounting software, and CRMs. However, phone support is only available upon request.
If you're looking for a processing company that is geared towards solo entrepreneurs and freelancers, PayPal offers budget-friendly pricing. It provides secure online transactions, but costs can quickly go up if you invest in additional services. With its intuitive user interface and 24/7 phone and email customer support, it is an easily recognizable brand for many customers.
If you're on a budget, this is an affordable option that offers transparent pricing and relatively low fees. It's well-suited to those who have small and medium-sized businesses and is also PCI compliant for maximum security. On the other hand, terminating your account can be tricky as they charge early termination fees.
A payment processing company helps business owners by authorizing credit and debit card transactions and enables them to get paid on time, transferring the funds to their account.
For smaller companies, services that offer a more affordable pricing model include Square and National Processing. With low monthly fees, a relatively wide variety of features, and ease of use, they're great for low-volume transactions.
To help protect your website, this resource highlights vulnerabilities and common cyber threats and suggests ways for you to improve your cybersecurity while accepting payments online.
In order to accept payments through your website or physical store, investing in a mobile credit card reader and processing app can ultimately widen your customer base and increase your revenue. When it comes to choosing an affordable and effective processing service, finding a provider that checks all the boxes can be difficult.
For additional assistance and plan comparisons for small businesses, contact us today at ProcessingCard.
