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.
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Best Credit Card Processing Companies
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Input your business’s monthly transaction details and we’ll help you sort from the best valueProduct | Cost Estimate | Payment processing fees | Cost Estimate | Learn more | ||
|---|---|---|---|---|---|---|
Square Learn more on Square's secure website | Get an estimated monthly cost for your business. | 5.0/5 Best for All-in-one payment services | In-person: 2.6% + $0.10 Online: 2.9% + $0.30 | $0.00 Starts at $0/month for unlimited devices and locations. | Get an estimated monthly cost for your business. | Learn more on Square's secure website |
Helcim Learn more on Helcim's secure website | 5.0/5 Best for Volume discounts | In-person: 0.4% + $0.08 Online: 0.5% + $0.25 Plus interchange | $0.00 | Learn more on Helcim's secure website | ||
National Processing Learn more on National Processing's secure website | 5.0/5 Best for Low, flat-rate processing | In-person: 2.5% + $0.10 Online: 2.9% + $0.30 | $9.95 for Basic In-Person Package. | Learn more on National Processing's secure website | ||
Stripe Learn more on Stripe Payments' secure website | 5.0/5 Best for Global, online transactions | In-person: 2.7% + $0.05 Online: 2.9% + $0.30 | $0.00 | Learn more on Stripe Payments' secure website | ||
Chase Payment Solutions℠ Learn more on Chase Payment Solutions℠'s secure website | 4.5/5 Best for Built-in banking partner | In-person: 2.6% + $0.10 Online: 2.9% + $0.25 | $0.00 Monthly fee in some instances. | Learn more on Chase Payment Solutions℠'s secure website | ||
Payment Depot Learn more on Payment Depot's secure website | 4.5/5 Best for Tailored interchange-plus rates | 0.2% + $0.00 to 1.95%, plus interchange. | $0.00 | Learn more on Payment Depot's secure website | ||
Shopify Payments Learn more on Shopify Payments' secure website | 4.5/5 Best for Online retail businesses | In-person: 2.6% + $0.10 Online: 2.9% + $0.30 | $39.00 Basic plan; $105 Shopify plan; $399 Advanced plan. | Learn more on Shopify Payments' secure website | ||
Finix Learn more on Finix's secure website | 5.0/5 Best for Subscription-based pricing | In-person: 0% + $0.08 Online: 0% + $0.15 Plus interchange | $79.00 and up. | Learn more on Finix's secure website | ||
PaymentCloud | 4.5/5 Best for High-risk businesses | 2.4% + $0.10 to 3.5% + $0.25 on average. | $0.00 to $50. | |||
PayPal Learn more on PayPal's secure website | 5.0/5 Best for Payment flexibility | In-person: 2.29% + $0.09 Online: 2.89% + $0.49 | $0.00 Standard; $5 Payments Advanced; $30 Payments Pro. | Learn more on PayPal's secure website |
Our pick for
All-in-one payment services
Square
Learn more
on Square's secure website
Monthly fee
$0.00
Starts at $0/month for unlimited devices and locations.
Square is a convenient all-in-one solution that provides straightforward credit card processing services and a variety of user-friendly POS systems under one roof. Its flat-rate pricing model is simple to understand and allows you to budget for a fixed monthly cost, although your actual cost may be higher than what you’d pay with interchange-plus pricing.
Pros
- Quick setup.
- Offers all-in-one system, including hardware, point-of-sale software, a payment gateway and payment processing.
- Funds are available instantly for a fee of 1.5% of the amount.
- Customer support is available weekdays from 6 a.m. to 6 p.m. Pacific time for free subscription; 24/7 customer support is available for paid subscriptions.
- Integrates with QuickBooks Online and Xero accounting software through a third-party app.
Cons
- Doesn’t provide services for businesses in certain industries.
- Doesn't work on Windows devices.
Our pick for
Volume discounts
Helcim
Learn more
on Helcim's secure website
Monthly fee
$0.00
Unlike flat-rate payment processors that charge the same transaction fee across different types of credit cards, Helcim uses an interchange-plus pricing model. This means your business saves when a customer uses a card with low interchange rates. Helcim also offers volume discounts if you process more than $50,000 monthly, which is a plus for high-volume businesses. And if you need hardware for taking payments in-person, the company sells its own smart terminal and mobile card reader, too.Read full review
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.
Our pick for
Low, flat-rate processing
National Processing
Learn more
on National Processing's secure website
Monthly fee
$9.95
for Basic In-Person Package.
At 2.5% plus 10 cents per in-person transaction, National Processing’s payment processing rates are especially low compared to other flat-rate competitors. If you subscribe to the Advanced plan for POS systems, those rates drop to 2.41% plus 10 cents. New merchants may also qualify for a free terminal.
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.
Our pick for
Global, online transactions
Stripe
Learn more
on Stripe Payments' secure website
Monthly fee
$0.00
Stripe is made especially for online, as opposed to in-person, businesses and lets you accept payments in more than 135 currencies from customers in 46 countries. You can use it to embed a checkout portal on your existing website, create payment links and send invoices. Its flat-rate pricing for online transactions is standard among competitors.
Pros
- Quick setup.
- 24/7 phone, chat and email support is available.
- Syncs with QuickBooks Online.
- Instant payout option available for 1% fee (minimum fee of 50 cents).
Cons
- Services aren’t available to businesses in certain industries.
- Requires some technical knowledge to fully take advantage of all features.
Our pick for
Built-in banking partner
Chase Payment Solutions℠
4.5
NerdWallet rating Learn more
on Chase Payment Solutions℠'s secure website
Monthly fee
$0.00
Monthly fee in some instances.
There’s something convenient about banking and processing payments through the same, well-known company. If you’re having trouble with deposits, for example, you only have to deal with one company instead of two. Simplicity aside, Chase Payment Solutions also has competitive in-person and online processing rates.
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.
Our pick for
Tailored interchange-plus rates
Payment Depot
Learn more
on Payment Depot's secure website
Payment processing fees
0.2% + $0.00
to 1.95%, plus interchange.
Monthly fee
$0.00
Payment Depot is a payment processor owned by Stax, a membership-style payment processing platform. But as opposed to offering monthly subscription pricing like Stax, it uses an interchange-plus pricing model and charges no monthly fee. The margin Payment Depot charges on top of interchange varies, so businesses must reach out directly for specifics.Read full review
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.
Our pick for
Online retail businesses
Shopify Payments
Learn more
on Shopify Payments' secure website
Monthly fee
$39.00
Basic plan; $105 Shopify plan; $399 Advanced plan.
If you own an online retail business and need to create a website for it, Shopify Payments, which integrates with Shopify’s e-commerce platform is an ideal choice. You can choose from more than 200 website themes with a handful of free template options. Additionally, payment processing rates decrease as you upgrade POS software plans.
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.
Our pick for
Subscription-based pricing
Finix
5.0
NerdWallet rating Learn more
on Finix's secure website
Monthly fee
$79.00
and up.
Finix is a subscription-based payment processor that charges interchange plus a small additional fee. It’s most cost-effective for businesses that process at least $5,000 per month and offers volume discounts to businesses that process more than $1 million in card transactions annually. Finix sells card readers and handheld terminals for in-person transactions, includes invoicing capabilities and offers multiple online transaction options.
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.
Our pick for
High-risk businesses
PaymentCloud
Payment processing fees
2.4% + $0.10
to 3.5% + $0.25 on average.
Monthly fee
$0.00
to $50.
PaymentCloud caters to small businesses that work in high-risk industries and may be struggling to find traditional payment processors that are willing to work with them. Some of these industries include CBD, debt collection and consolidation, nutraceuticals and pawn shops. PaymentCloud provides both a dedicated merchant account as well as payment processing services to these types of businesses.
Pros
- Provides merchant accounts to high-risk businesses, such as those that have elevated rates of credit card fraud or chargebacks, or those that sell age-restricted products.
- 24/7 customer support is available.
- Integrates with QuickBooks Online.
Cons
- Pricing is not transparent.
- You can generally get approved within 48 hours, but it can take longer depending on how quickly you submit the required documents.
Our pick for
Payment flexibility
PayPal
Learn more
on PayPal's secure website
Monthly fee
$0.00
Standard; $5 Payments Advanced; $30 Payments Pro.
PayPal is a leader in developing and accepting payments in innovative ways, including through subsidiary Venmo, QR codes, payment links and buy-now-pay-later financing. Because it’s such a widely used platform, PayPal integrates with most websites and shopping carts.Read full review
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
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
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
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 Stripe Connect.
- $2 per account for Stripe Express (for marketplaces) or Stripe Custom (the white-label option that allows businesses to customize the checkout process).
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
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
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.
- 2.89% 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.
- $249 for Store Kit Mini (screen terminal with card reader).
- $339 for Store Kit Portable kit with mobile card reader and printer.
- $499 for Store Kit Standard (adds printer).
- $699 for Store Kit Plus (adds barcode scanner).
National Processing
Best for low, flat-rate processing
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
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
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
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
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
Last updated on September 24, 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.
