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10 Best Merchant Services of March 2024

Factor in overall cost, terms, customer support and integrations to find the best merchant services for your business.
By Whitney Vandiver, Lisa A. Anthony, Hillary Crawford
Last updated on February 28, 2024
Edited byChristine Aebischer
Fact checked and reviewed

⏰ Estimated read time: 10 minutes

Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money.

Merchant services encompass a wide range of features, but most importantly, they give your business the tools it needs to process card transactions. Credit card processing companies, for example, fulfill merchant services by facilitating payment processing both in-person and online, and sometimes even by providing point-of-sale (POS) hardware.
The best merchant services have competitive processing fees and accept a range of payment types. Some stand out for accommodating high-risk merchants, while others sell a variety of POS systems and card readers, or integrate with popular business apps.
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.
5.0/5

Best for Overall option

In-person: 0.4% + $0.08

Online: 0.5% + $0.25

Plus interchange

$0.00

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: 2.9% + $0.30

$0.00

and up.

Learn more

on Square POS's secure website

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

$0.00

Learn more

on Stripe Payments' secure website

National Processing

Learn more

on National Processing's secure website

5.0/5

Best for Free terminal

2.5% + $0.10

for Basic In-Person Package.

$9.95

for Basic In-Person Package.

Learn more

on National Processing's secure website

Payment Depot

Learn more

on Payment Depot's secure website

4.0/5

Best for High sales volume

0.2% + $0.00

to 1.95%, plus interchange.

$79.00

and up.

Learn more

on Payment Depot's secure website

U.S. Bank Merchant Services

Learn more

on U.S. Bank Merchant Services' secure website

4.5/5

Best for Fast deposits

In-person: 2.6% + $0.10

Online: 2.9% + $0.30

$0.00

and up.

Learn more

on U.S. Bank Merchant Services' 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

PaymentCloud

Learn more

on PaymentCloud's secure website

4.5/5

Best for High-risk businesses

2.4% + $0.10

to 3.5% + $0.25 on average.

$0.00

to $50.

Learn more

on PaymentCloud's secure website

Dharma Merchant Services

4.5/5

Best for Nonprofits

In-person: 0.15% + $0.08

Online: 0.2% + $0.11

Plus interchange

$15.00

for most industries; $12 for nonprofits.

QuickBooks Payments

4.5/5

Best for QuickBooks loyalists

In-person: 2.5% + $0.00

Online: 2.99% + $0.00

$0.00

QuickBooks subscription required.

Our pick for

Overall option

Learn more

on Helcim's secure website

Monthly fee
$0.00

Our pick for

Flat-rate option

Square POS

Learn more

on Square POS's secure website

Monthly fee
$0.00

and up.

Our pick for

Flat rate for online sales

Learn more

on Stripe Payments' secure website

Monthly fee
$0.00

Our pick for

Free terminal

National Processing

Learn more

on National Processing's secure website

Payment processing fees
2.5% + $0.10

for Basic In-Person Package.

Monthly fee
$9.95

for Basic In-Person Package.

Our pick for

High sales volume

Payment Depot

Learn more

on Payment Depot's secure website

Payment processing fees
0.2% + $0.00

to 1.95%, plus interchange.

Monthly fee
$79.00

and up.

Our pick for

Fast deposits

U.S. Bank Merchant Services

Learn more

on U.S. Bank Merchant Services' secure website

Monthly fee
$0.00

and up.

Our pick for

Built-in banking partner

Chase Payment Solutions℠

Learn more

on Chase Payment Solutions℠'s secure website

Monthly fee
$0.00

Monthly fee in some instances.

Our pick for

High-risk businesses

PaymentCloud

Learn more

on PaymentCloud's secure website

Payment processing fees
2.4% + $0.10

to 3.5% + $0.25 on average.

Monthly fee
$0.00

to $50.

Our pick for

Nonprofits

Dharma Merchant Services

Monthly fee
$15.00

for most industries; $12 for nonprofits.

Our pick for

QuickBooks loyalists

QuickBooks Payments

Monthly fee
$0.00

QuickBooks subscription required.

Got feedback on these products?

Tell our Nerds what you think about the offerings here to help us refine our product evaluations.

Helcim: Best overall option

Why we like it: It's easy to sign up for a Helcim account online by providing some basic information about your business. Funds from your transactions are deposited within two business days. Customer support is available weekdays from 9 a.m. to 7 p.m. Eastern time and on Saturday from 11 a.m. to 7 p.m. Eastern time. You can sync data with both QuickBooks Desktop and Online as well as WooCommerce. Read our full Helcim review.

Square: Best flat-rate option

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, WooCommerce and other popular apps.

Dharma Merchant Services: Best for nonprofits

Why we like it: With Dharma Merchant Services, nonprofits benefit from reduced transaction rates and partnership with a provider that’s been committed to doing good from its inception. Additionally, 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. Read our full Dharma Merchant Services review.

Stripe: Best flat rate for online sales

Why we like it: With Stripe, payments are typically processed in two to three business days. Stripe integrates with a large number of apps like Bench Accounting, Xero and Mailchimp. You can use the developer tools in Stripe Terminal and pre-certified card readers to build your own in-person checkout system. Read our full Stripe review.

Payment Depot: Best for large transaction amounts

Why we like it: Payment Depot, which is owned by Stax, is an independent sales organization that handles merchant accounts for Wells Fargo Bank. It’s a great option for businesses that have large monthly and/or annual sales volume because it uses a subscription model. This means you pay one monthly fee for the software and payment processing services and pay only the interchange rate on each transaction — no percentage cut taken from each transaction and no provider markup charged. Funds are automatically deposited within one to two days, and 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. Read our full Payment Depot review.

PaymentCloud: Best for high-risk businesses

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 in industries including firearms, tobacco, credit repair, telemedicine and other industries. The platform integrates with QuickBooks and many shopping carts including BigCommerce, WooCommerce, Shopify and Adobe Commerce (formerly Magento). Read our full PaymentCloud review.

National Processing: Best for free terminal

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 and Shopify. Read our full National Processing review.

QuickBooks Payments: Best for QuickBooks loyalists

Why we like it: You’ll need a QuickBooks account to use QuickBooks Payments. Funds are typically deposited the next business day when the cutoff time of 6 p.m. ET 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, BigCommerce and Etsy shopping carts. Read our full QuickBooks Payments review.

U.S. Bank Merchant Services: Best for fast deposits

Why we like it: U.S. Bank offers business banking, payment processing and point-of-sale solutions for small businesses. With a variety of monthly plans, transaction rates that are on par with other merchant services providers, no long-term contract, no cancellation fees and no PCI fees, U.S. Bank Merchant Services may be an appealing option for businesses, especially if you’re looking for a single provider for payment processing, business banking and/or a POS solution. Free same-day funding is available if you have a U.S. Bank business checking account.
Merchants opening a new Payment Solutions account are eligible to earn back 2.5% on transaction fees each month through 2025. Terms and conditions apply.

Chase Payment Solutions: Best for built-in banking partner

Why we like it: Chase Payment Solutions is a direct processor, meaning it operates as both the payment processor and the acquiring bank that establishes the merchant’s bank account. You’ll get your money the next business day, which is faster than the two-day norm with many other processors, provided you use a Chase business checking account. Additionally, Chase offers 24/7 service and has no monthly fees. It has payment processing solutions for service-based businesses, health care companies, restaurants, retail stores and e-commerce shops. Read NerdWallet’s Chase Payment Solutions review.

What are merchant services?

Merchant services comprise a variety of products and services, like payment processing, that help businesses accept payments either online, in-store or both. For online payments, they may include e-commerce platforms that allow businesses to sell goods online and payment gateways that provide a secure place for online customers to enter their card information. For in-person payments, merchant services involve credit card readers and other POS hardware devices that make it possible to accept different payment methods.
Last updated on February 28, 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.

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