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11 Best Payment Processing Companies of June 2024

Payment processing companies facilitate card transactions — in-person, online or both — and often provide POS solutions, too.
By Hillary Crawford, Karrin Sehmbi
Last updated on June 14, 2024
Edited byChristine Aebischer
Fact checked and reviewed

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.

The best payment processing companies offer some combination of fair rates, useful features, helpful customer service and integrations with the rest of your business software ecosystem. Factor in your small business’s industry, monthly sales volume and average transaction size, as well as whether you accept credit card payments in-store or online.
Our top picks for the best payment processing companies include the following options:
  • Square: Best flat-rate option for brick-and-mortar businesses. 
  • Shopify: Best e-commerce platform integration. 
  • Finix: Best low interchange-plus rates. 

Best Payment Processing Companies

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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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Square

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on Square's secure website

Get an estimated monthly cost for your business.
5.0/5

Best for Flat-rate option for brick-and-mortar businesses

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

Stripe

Learn more

on Stripe Payments' secure website

5.0/5

Best for Online, international transactions

In-person: 2.7% + $0.05

Online: 2.9% + $0.30

$0.00

Learn more

on Stripe Payments' secure website

Finix

Learn more

on Finix's secure website

5.0/5

Best for Low interchange-plus rates

In-person: 0% + $0.08

Online: 0% + $0.15

Plus interchange

$79.00

and up.

Learn more

on Finix's secure website

Stax by Fattmerchant

Learn more

on Stax by Fattmerchant's secure website

4.0/5

Best for High-volume sales

In-person: 0% + $0.08

Online: 0% + $0.15

Plus interchange

$99.00

and up.

Learn more

on Stax by Fattmerchant's secure website

Shopify Payments

Learn more

on Shopify Payments' secure website

4.5/5

Best for E-commerce platform integration

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

Clover

Learn more

on Clover's secure website

4.5/5

Best for POS hardware options

In-person: 2.3% + $0.10

Online: 3.5% + $0.10

$0.00

and up.

Learn more

on Clover's secure website

Chase Payment Solutions℠

Learn more

on Chase Payment Solutions℠'s secure website

4.5/5

Best for Direct processor

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

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

PayPal

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on PayPal's secure website

5.0/5

Best for Alternative payment methods

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

U.S. Bank Merchant Services

4.5/5

Best for Quick deposits

In-person: 2.6% + $0.10

Online: 2.9% + $0.30

$0.00

and up.

Our pick for

Flat-rate option for brick-and-mortar businesses

Learn more

on Square's secure website

Monthly fee
$0.00

Starts at $0/month for unlimited devices and locations.

Our pick for

Volume discounts

Learn more

on Helcim's secure website

Monthly fee
$0.00

Our pick for

Online, international transactions

Learn more

on Stripe Payments' secure website

Monthly fee
$0.00

Our pick for

Low interchange-plus rates

Finix

5.0
NerdWallet rating 
Learn more

on Finix's secure website

Monthly fee
$79.00

and up.

Our pick for

High-volume sales

Stax by Fattmerchant

Learn more

on Stax by Fattmerchant's secure website

Monthly fee
$99.00

and up.

Our pick for

E-commerce platform integration

Shopify Payments

Learn more

on Shopify Payments' secure website

Monthly fee
$39.00

Basic plan; $105 Shopify plan; $399 Advanced plan.

Our pick for

POS hardware options

Learn more

on Clover's secure website

Monthly fee
$0.00

and up.

Our pick for

Direct processor

Chase Payment Solutions℠

Learn more

on Chase Payment Solutions℠'s secure website

Monthly fee
$0.00

Monthly fee in some instances.

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.

Our pick for

Alternative payment methods

Learn more

on PayPal's secure website

Monthly fee
$0.00

Standard; $5 Payments Advanced; $30 Payments Pro.

Our pick for

Quick deposits

U.S. Bank Merchant Services

Monthly fee
$0.00

and up.

Our picks for best payment processing companies

Helcim: Best volume discounts

Why we like it: With its volume discounts, transparent interchange-plus pricing and quick setup, Helcim is one of the best payment processors for small businesses. Businesses aren’t locked into a contract, and the merchant account provider doesn’t come with a monthly subscription charge. There are no setup fees or PCI compliance fees. Read NerdWallet’s Helcim review.

Square: Best flat-rate option for brick-and-mortar businesses

Why we like it: Square’s simple flat-rate processing, quick setup and array of in-house POS hardware options make it one of the most convenient all-in-one options for brick-and-mortar businesses. It doesn’t charge additional fees for cancellation, PCI compliance or setup, and offers a free POS software plan for retail stores and restaurants. Read NerdWallet’s Square review.

Clover: Best for POS hardware options

Why we like it: In addition to handling payment processing, Clover also offers sleek POS hardware and multiple software plans for small businesses in various industries, including retail, restaurants, personal services and professional services. Recent additions to its hardware lineup include a kitchen display system and self-ordering kiosk. Read NerdWallet’s Clover review.

Stripe: Best for online, international transactions

Why we like it: Stripe's payment processing services are a good fit for businesses that conduct most of their sales online. It supports over 135 currencies and offers customizable payment forms, 24/7 support and integrations with more than 450 platforms and extensions. Similar to Square, the service has a flat-rate pricing structure, no monthly subscription fees and no setup fees. Read NerdWallet’s Stripe Payments review.

Finix: Best for low interchange-plus rates

Why we like it: Compared to flat-rate processing companies, processors like Finix can help higher-volume businesses save money by passing interchange savings to merchants and charging lower processing fees in exchange for a monthly subscription fee. Finix is transparent about how its fees are allocated and provides a line-by-line breakdown of each transaction’s processing fees. Read NerdWallet's Finix review.

PayPal: Best for alternative payment methods

Why we like it: PayPal’s payment processing services stand out because they allow businesses to accept alternative payment methods like Venmo or consumer PayPal accounts. You can accept payments in person using PayPal Zettle, and customers can choose to buy now and pay later if they want. It also has a simple flat-rate pricing structure. Read NerdWallet’s PayPal Business review.

Shopify Payments: Best for e-commerce platform integration

Why we like it: Shopify is a comprehensive e-commerce solution and online payment processing service that helps businesses build online stores, host them and process payments for them, among other functions. For business owners who already use the company for e-commerce, taking advantage of the payments platform makes sense, in part because an additional fee applies if you use an outside processor. Businesses get 24/7 customer support, POS software, fraud analysis, shipping discounts and the ability to sell products in dozens of currencies. Read NerdWallet’s Shopify Payments review.

Chase Payment Solutions: Best direct processor

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. So, this may be a good choice for existing Chase business customers. 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.

Stax (formerly Fattmerchant): Best for high-volume sales

Why we like it: Instead of charging a percentage markup per transaction, Stax charges businesses interchange plus a fixed amount of money per transaction, plus a monthly subscription fee. Although the $99 per month is steep, it could be worth it for businesses that would otherwise pay more than that in percentage markups. The merchant account provider doesn’t make its clients sign contracts, and its plans include 24/7 customer support (via an online ticketing system) and PCI compliance. Read NerdWallet’s Stax review.

National Processing: Best for low flat-rate processing

Why we like it: National Processing charges a small subscription fee in return for low flat-rate processing fees. Its in-person rates, in particular, are lower than many of its competitors’ rates at 2.5% plus 10 cents per transaction. It guarantees it can beat your current rates — if your business processes at least $10,000 per month — or it’ll give you $500. Read NerdWallet's National Processing review.

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

Why we like it: Similar to Chase Payment Solutions, U.S. Bank Merchant Services offers both bank accounts and payment processing solutions, which makes the payout process convenient. Businesses with a checking account through U.S. Bank can also access same-day deposits for free.

What is a payment processing company?

Payment processing companies work behind the scenes to facilitate in-person and online card transactions and move funds from the customer's card account to the merchant's account. While there are several steps to this process, it all takes place within a matter of seconds, and fees are typically available to the merchant within a day or two. Payment processors charge a fee for each transaction, and may also require a monthly software subscription.
In addition to their core function, payment processing companies may fulfill additional merchant services by providing POS hardware, POS software and merchant accounts all under the same roof. Most of them also offer invoicing options, fraud protection tools and reporting dashes, in addition to helping to ensure your business is PCI compliant.

Runner-up payment processing companies to consider

Here are some additional options that didn’t make our list, but still have strong ratings and may be a good fit for your business.
  • Dharma Merchant Services: 4.5 stars. Dharma Merchant Services is a good interchange-plus option, but charges extra monthly fees for basic features like invoicing and online payment processing. However, it extends reduced interchange-plus rates to nonprofit businesses. 
  • PaymentCloud: 4.5 stars. PaymentCloud works with low-risk and medium-risk businesses, similar to its competitors, but stands out for accommodating businesses in high-risk industries, like tech support, nutraceuticals, tobacco and CBD. 
  • Payline: 4.5 stars. Payline is an interchange-plus processor that charges separate monthly subscriptions for online and in-person transactions, which can complicate things for businesses doing both. It’s also not particularly transparent when it comes to POS hardware and software costs. However, unlike some of its competitors, it does offer a one-month free trial. 
  • Adyen: 4.0 stars. Adyen uses different pricing structures across card types, which can be confusing and make it difficult to predict costs. However, its features are ideal for omnichannel merchants that need to consolidate their payment data across different sales channels and want to give customers a seamless shopping experience, such as the ability to buy online and return in-store. 
Last updated on June 14, 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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