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8 Best Merchant Services of June 2023

These merchant services are at the top of our list based on overall cost, terms, customer support and integrations.
Last updated on February 7, 2023

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What are merchant services?

Merchant services allow a business to accept credit and debit card transactions by transmitting the customer information to card networks and issuing banks, thus giving businesses access to the payments they receive from customers.
The companies that offer merchant services vary in the related products and services they offer, as well as in their pricing models (flat rate, interchange-plus, membership). Here’s our list of the best merchant services and what sets them apart.

Best Merchant Services

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Estimates assume an average interchange fee of 1.81% + $0.10, based on our latest available data. Estimates provided reflect online and in-person transactions, but exclude any keyed transactions. Estimates are based on the lowest monthly plan and processing fees for each provider.

Product
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Payment processing fees
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Helcim

Learn more

on Helcim's secure website

Get an estimated monthly cost for your business.
4.5/5

Best for Overall option

In-person: 0.3% + $0.08

Online: 0.5% + $0.25

Plus interchange

$0

Get an estimated monthly cost for your business.
Learn more

on Helcim's secure website

Square POS

Learn more

on Square POS's secure website

5.0/5

Best for Flat-rate option

In-person: 2.6% + $0.10

Online: 2.6% + $0.30

$0

Free plan; $29 Plus plan; Custom plan available.

Learn more

on Square POS's secure website

Dharma Merchant Services

4.5/5

Best for E-commerce

In-person: 0.15% + $0.08

Online: 0.2% + $0.11

Plus interchange

$25

for most industries; $20 for nonprofits.

Stripe

Learn more

on Stripe Payments' secure website

5.0/5

Best for Flat rate for online sales

In-person: 2.7% + $0.05

Online: 2.9% + $0.30

$0

Learn more

on Stripe Payments' secure website

Payment Depot

Learn more

on Payment Depot's secure website

4.0/5

Best for Large transaction amounts

N/A

plus interchange (no markup).

$79

and up.

Learn more

on Payment Depot's secure website

PaymentCloud

Learn more

on PaymentCloud's secure website

3.5/5

Best for High-risk businesses

N/A

$10

and up.

Learn more

on PaymentCloud's secure website

National Processing

Learn more

on National Processing's secure website

3.5/5

Best for Customized rates

0.12% + $0.06

plus interchange; varies by business and transaction type.

$10

and up.

Learn more

on National Processing's secure website

QuickBooks Payments

5.0/5

Best for QuickBooks loyalists

In-person: 2.4% + $0.25

Online: 2.9% + $0.25

$0

QuickBooks subscription required.

Our pick for

Overall option

Learn more

on Helcim's secure website

Payment processing fees

In-person: 0.3% + $0.08

Online: 0.5% + $0.25

Plus interchange

Monthly fee

$0

Our pick for

Flat-rate option

Square POS

Learn more

on Square POS's secure website

Payment processing fees

In-person: 2.6% + $0.10

Online: 2.6% + $0.30

Monthly fee

$0

Free plan; $29 Plus plan; Custom plan available.

Our pick for

E-commerce

Dharma Merchant Services

Payment processing fees

In-person: 0.15% + $0.08

Online: 0.2% + $0.11

Plus interchange

Monthly fee

$25

for most industries; $20 for nonprofits.

Our pick for

Flat rate for online sales

Learn more

on Stripe Payments' secure website

Payment processing fees

In-person: 2.7% + $0.05

Online: 2.9% + $0.30

Monthly fee

$0

Our pick for

Large transaction amounts

Payment Depot

Learn more

on Payment Depot's secure website

Payment processing fees

N/A

plus interchange (no markup).

Monthly fee

$79

and up.

Our pick for

High-risk businesses

PaymentCloud

Learn more

on PaymentCloud's secure website

Payment processing fees

N/A

Monthly fee

$10

and up.

Our pick for

Customized rates

National Processing

Learn more

on National Processing's secure website

Payment processing fees

0.12% + $0.06

plus interchange; varies by business and transaction type.

Monthly fee

$10

and up.

Our pick for

QuickBooks loyalists

QuickBooks Payments

Read Review
Read review

on NerdWallet's secure website

Payment processing fees

In-person: 2.4% + $0.25

Online: 2.9% + $0.25

Monthly fee

$0

QuickBooks subscription required.

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Helcim: Best overall option

Payment processing:
  • Interchange plus 0.3% and 8 cents per in-person transaction (if less than $25,000 in monthly card transactions).
  • Interchange plus 0.5% and 25 cents per online transaction (if less than $25,000 in monthly card transactions).
  • Interchange plus 0.5% and 25 cents per manually keyed transaction (if less than $25,000 in monthly card transactions).
  • 0.5% plus 25 cents for ACH payments.
Monthly software fees: $0
Hardware cost:
  • $109 for a mobile card reader (with stand).
  • $79 for a mobile thermal printer.
Why we like it: It's easy to sign up for a Helcim account online by providing some basic information. Funds from your transactions are deposited within one to two business days. Customer support is available weekdays from 9 a.m. to 9 p.m. Eastern time and on the weekends from 1 p.m. to 9 p.m. Eastern time. You can sync data with both QuickBooks Desktop and Online. Other integrations include WooCommerce, Adobe Commerce (formerly Magento) and Zone 4.

Square: Best flat-rate option

Payment processing:
  • 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.
  • 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 software fees:
  • $0 for Square POS, Restaurant, Retail and Appointments Free plans.
  • $29 for Square Appointments Plus plan.
  • $60 for Square Restaurant and Retail Plus plans.
  • $69 for Square Appointments Premium plan.
Hardware:
  • $0 for Square magstripe-only card reader ($10 for each additional) or if using Tap to Pay for iPhone (iPhone not included).
  • $49 for Square Reader contactless and chip card reader.
  • $149 for Square Stand iPad POS or Square Stand Mount (iPad not included).
  • $299 for Square Terminal mobile card reader with built-in printer.
  • $799 for Square Register two-screen system.
  • $659-$1,479 for various bundles of stands, cash drawers, printers and card readers.
Why we like it: Square can accommodate all types of credit card transactions. You receive your funds as fast as the next business day for free, or you can pay a fee to receive funds instantly. Square also offers free dispute management for chargebacks. Free phone support is available during the week from 6 a.m. to 6 p.m. Pacific time. Square integrates with QuickBooks, Xero, Stitch Labs and other popular apps.

Dharma Merchant Services: Best for e-commerce.

Payment processing:
  • Interchange plus 0.15% + 8 cents for in-person transactions.
  • Interchange plus 0.20% + 11 cents for online transactions.
  • Interchange plus 0.25% + 8 cents for in-person AmEx transactions.
  • Interchange plus; 0.30% + 11 cents for online AmEx transactions.
  • Interchange plus 0.15% + 8 cents for in-person transactions.
  • Interchange plus 0.20% + 11 cents for online transactions.
  • Interchange plus 0.25% + 8 cents for in-person AmEx transactions.
  • Interchange plus; 0.30% + 11 cents for online AmEx transactions.
Monthly software fees: $25 monthly fee.
Hardware cost:
  • $149 for Walker 2 chip, swipe and NFC card reader.
  • $295 for FD-150, Verifone Engage V200c or Dejavoo Z11 chip-and-pin card reader with printer.
  • $369 for Ingenico Desk/5000 card reader.
  • $480 for FD-150, or V200c or Z11 card reader with separate pinpad.
  • $599 for Clover Flex mobile card reader with printer.
  • $899 for Clover Mini POS device.
  • $1,649 for Clover Station Solo POS bundle.
  • $1,999 for Clover Station Duo POS bundle.
Why we like it: With Dharma Merchant Services, businesses with monthly card sales over $100,000 or more than 5,000 transactions may qualify for volume discounts, as well as restaurants with average ticket amounts of less than $25. Funding is guaranteed in two business days. Customer support to process your card transactions is available 24 hours a day. You can export data into an Excel file to import into QuickBooks.

Stripe: Best flat rate for online sales

Payment processing:
  • 2.9% plus 30 cents for online transactions.
  • 2.7% plus 5 cents for in-person transactions.
  • 3.4% plus 30 cents for manually keyed transactions.
  • 3.9% plus 30 cents for international cards or currency conversion.
  • 2.9% plus 30 cents for online transactions.
  • 2.7% plus 5 cents for in-person transactions.
  • 3.4% plus 30 cents for manually keyed transactions.
  • 3.9% plus 30 cents for international cards or currency conversion.
Monthly 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 cost:
  • $59 for Stripe Reader M2.
  • $249 for BBPOS WisePOS E card reader.
Why we like it: With Stripe, payments are typically processed in two business days. Stripe integrates with a large number of apps and automatically syncs with QuickBooks and NetSuite. You can use the developer tools in Stripe Terminal and pre-certified card readers to build your own in-person checkout system.

Payment Depot: Best for large transaction amounts

Monthly fee:
  • $79 if you process up to $250,000 per year.
  • Custom quote if you process more than $250,000 per year.
Payment processing: Interchange plus $0 per transaction.
Hardware cost: Sells card readers as well as countertop and mobile point-of-sale hardware from Clover, Dejavoo, First Data, Poynt and SwipeSimple, but prices are undisclosed. You have to request a quote.
Why we like it: Payment Depot, which is owned by Stax, is an independent sales organization that handles merchant accounts for Wells Fargo Bank. Automatic deposit of funds within one to two days. Support is available 24/7. Payment Depot integrates with Shopify, OpenCart, QuickBooks, PrestaShop, Shift4Shop, BigCommerce, WooCommerce, Adobe Commerce (formerly Magento), Zen Cart, Revel, NCR and Authorize.net.

PaymentCloud: Best for high-risk businesses

Monthly software fees: $10 and up.
Payment processing: Undisclosed/quote only. You have to call to get pricing information.Hardware cost: Undisclosed/quote only. You have to call to get pricing information.
Why we like it: PaymentCloud's payment processing is available for in-person, online, mobile, keyed and cryptocurrency transactions. It has multiple banking relationships that can be used to secure a merchant account for high-risk businesses. The platform integrates with QuickBooks and most shopping carts including BigCommerce, WooCommerce, Shopify and Adobe Commerce (formerly Magento).

National Processing: Best for customized rates

Payment processing:
  • Cash Discount: interchange only.
  • Restaurant: interchange plus 0.14% and 7 cents per transaction.
  • Retail: interchange plus 0.18% and 10 cents per transaction.
  • E-commerce: interchange plus 0.29% and 15 cents per transaction.
  • Nonprofit: interchange plus 0.12% and 6 cents per transaction.
  • ACH: interchange plus 0%-1.5% and 48 cents per transaction.
  • Subscription: interchange plus 9 cents per transaction.
  • Subscription Plus: interchange plus 5 cents per transaction.
Monthly software fees:
  • $0 for Cash Discount plan.
  • $9.95 for Restaurant, Retail, E-commerce or Nonprofit plans.
  • $15 for ACH processing.
  • $59 for Subscription plan.
  • $199 for Subscription Plus plan.
  • Custom pricing available.
Hardware cost: Undisclosed/quote only. A mobile reader is included with most plans at no additional cost. Based on the plan you select, a terminal and PIN pad may also be included. A large number of POS devices are available including Clover hardware.
Why we like it: National Processing offers processing services for some high-risk businesses. You can expect to receive your funds in two days with an opportunity for next-day deposits. Phone support is available 24/7. Integrations are offered for popular business apps including QuickBooks, WooCommerce, Ecwid, Zendesk, BigCommerce, OpenCart and Shopify.

QuickBooks Payments: Best for QuickBooks loyalists

Payment processing:
  • Pay as you go: 2.7% for in-person transactions; 3.5% per keyed transaction.
  • Pay monthly: $20 per month; 2.3% plus 25 cents for in-person transaction; 3.2% plus 25 cents per keyed transaction.
  • 1% for ACH transactions.
For QuickBooks Online users
  • 2.4% plus 25 cents for in-person payments.
  • 2.9% plus 25 cents for online and invoiced payments.
  • 3.4% plus 25 cents for manually keyed payments.
  • 1% for ACH transactions.
For QuickBooks Desktop users
Pay as you go plan (no monthly fee):
  • 2.4% plus 30 cents per swiped transaction.
  • 3.5% plus 30 cents per keyed-in transaction.
  • 3.5% plus 30 cents per invoiced transaction.
Pay monthly plan (monthly fee):
  • 1.6% plus 30 cents per swiped transaction.
  • 3.3% plus 30 cents per keyed-in transaction.
  • 3.3% plus 30 cents per invoiced transaction.
Monthly software fees:
  • $1,200 one-time fee for POS Basic.
  • $1,700 one-time for POS Pro.
  • $1,900 one-time for POS Multi-Store.
Hardware cost:
  • $39 for QuickBooks charging stand.
  • $49 for QuickBooks card reader.
  • $79 for QuickBooks card reader with charging stand.
Why we like it: You’ll need a QuickBooks Online account to use QuickBooks Payments. Funds are typically deposited the next business day when the cutoff time of 3 p.m. Pacific time is met. Phone support is available Monday through Friday from 9 a.m. to 8 p.m. Eastern time. QuickBooks Payments integrates with Shopify, Amazon, eBay, WooCommerce, Adobe Commerce (formerly Magento), BigCommerce, Walmart and Etsy shopping carts.
Last updated on February 7, 2023

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.