TOP 15
PAYMENT PROCESSING
COMPANIES
Payment processing companies are virtually everywhere. If you own whether a brick and mortar or an eCommerce store, you know
that your website needs a payment processor to become a fully-functioning, money-making machine. But how, exactly, do you pick
your business partner? Do you know which ones are the most secure, reliable, and better performing?
To help you decide, our experts listed their top 15 best payment processing services picks that impressed us in terms of performance,security, PCI compliance, and distinctive features. These options are the ones who can give you a seamless experience, whether you’re an online entrepreneur, freelancer, or a consumer who loves shopping online.
- 1. CloudBanking
- 2. WePay
- 3. Stripe
- 4. Due
- 5. Square
- 6. Authorize.net
- 7. SecurePay
- 8. 2Checkout
- 9. CardConnect
- 10. PaySimple
- 11. Flagship Merchant Services
- 12. Fattmerchant
- 13. Fiserv
- 14. Payline
- 15. Dharma Merchant Services
BEST PICKS
COMPARE OUR PICKS
Company | Transparent Pricing | Pricing Model | Monthly Fees | Contract Length | 24/7 Phone Support |
---|---|---|---|---|---|
CloudBanking | Yes | Flat rate / Interchange | No | Pay as you go | No |
WePay | No | Flat rate | No | Pay as you go | No |
Stripe | Yes | Flat rate | Yes | Pay as you go | Yes |
Due | No | Flat rate | Yes | Month to month | No |
Square | Yes | Flat rate | No | Pay as you go | No |
Authorize.net | Yes | Flat rate | Yes | Pay as you go | Yes |
SecurePay | Yes | Flat rate | No | Pay as you go | No |
2CheckOut | Yes | Flat rate / Interchange | Yes | Month to month | Yes |
CardConnect | No | Flat rate / Interchange | Yes | Month to month | No |
PaySimple | Yes | Flat rate | Yes | Pay as you go | No |
Flagship Merchant Service | Yes | Flat rate | Yes | Month to month | Yes |
Fattmerchant | Yes | Flat rate | Yes | Month to month | Yes |
Payline | Yes | Flat rate / Interchange | Yes | Pay as you go | No |
Dharma Merchant Services | Yes | Flat rate / Interchange | Yes | Pay as you go | No |
OUR REVIEWS
1. CloudBanking

CloudBanking may be new in the industry, but it has earned a good reputation for being an innovative end-to-end cashflow solution provider. It has
everything you need to process credit cards on- and off-line with low rates and offers a choice of interchange-plus or tiered pricing plans. Plus, it also has
features like recurring billing, hosted checkout, fraud protection, and integration with the most popular accounting software. Further, you can set up
automatic invoicing/email payment reminders and has a dashboard that tracks your accounts receivables.
HITS:
- All-in-one payments system; has very responsive API
- Best for businesses doing basic credit, debit, and ACH processing; affordable rates with no monthly minimums
- Major accounting software integration feature (QuickBooks, MYOB)
- More than just a payment processing platform. It also offers time tracking, project management, and customized online invoicing options
- Accepts high-risk merchant accounts
- Allows user to accept all major credit and debit cards on both desktop and mobile platforms
- Feature a customizable or pre-built checkout form. The dashboard system can also save card details so returning customers can pay with just few clicks
- No additional fees for setup, cancellation, and account maintenance
MISSES:
- Considered newbie in the payment processing platform
- Doesn’t have 24/7 support system
2. WePay

WePay is a payment processor that you can directly integrate into your website, which makes it somehow an extension of your brand. You can actually
customize everything from it — checkout forms, confirmation emails, customer support emails, credit card statements, and mobile transactions. Plus,
WePay offers on-the-go payment capability chip card reader, mobile SDKs, and fulfillment service. This feature gives you the capability to embed
payments into a single mobile app for complete and more seamless user experience
HITS:
- Recommended for crowdfunding
- Suggested for businesses doing basic credit, debit, and ACH processing
MISSES:
- Not suited for businesses processing over $5K/month
- Does not support eCommerce businesses that want to accept PayPal payments
- A payment aggregator, not a dedicated merchant account. Hence, it may be susceptible to sudden account freezes.
- Does not offer much support for processing payments at brick and mortar locations
3. Stripe

Stripe offers its services to online businesses in 25 countries. It allows its users to structure payment flows that accept all major credit and debit cards on both
desktop and mobile platforms. Its developer toolkit also gives you the freedom to customize your checkout or simply use their pre-built, conversion-optimized
form called Checkout. Further, the platform also enables your website to store card details so returning customers can pay with just one click.
HITS:
- Highly compatible with ACH, Apple Pay, Alipay, WeChat and bitcoin; and has a very good API
- 2.9% + $0.30 per transaction, with no monthly fees or minimums
- Has customize checkout or pre-built, conversion-optimized form called Checkout. The platform also enables your website to save card details so returning
- Customers can pay with just one click
- Flat-rate fees, competitive with top alternatives
- Highly customizable with many integration options
- Great for international payments
MISSES:
- Arising concerns with frozen or canceled accounts, especially for businesses in riskier industries
- May require technical skills or developer resources to customize
- A payment aggregator, not a dedicated merchant account. Hence, it may be susceptible to sudden account freezes.
4. Due

Due is not just an online credit card processor that offers several payment options, it is also an end-to-end payment solution platform. You can use it with your
online store and digital invoices, and it allows you to process domestic and international credit card processing, ACH payment processing, and PayPal and
Stripe integration. Plus, Due comes with time tracking, online estimates, and invoicing tools, as well as online database management capabilities.
HITS:
- Renders low-cost processing solution; hence, it’s a billing and payment service widely used by freelancers, small business owners, and large corporations
- Provides an end-to-end service that encompasses the entire billing and payment process for freelancers, small business owners and companies
- The invoicing and payment processing features include more than 100 languages, currencies and tax systems, as well as international credit card processing
- Has web-based invoicing tool that assists businesses with invoice creation, payment processing, recurring billing and data management
MISSES:
- Doesn’t have a free version
- There are some limitations to billing flexibility on this platform
- Added cost to set up additional vendors
- Evident interface issues that make it difficult to use on the website
5. Square

Square is known as one of the most versatile payment solutions for small businesses. It offers a simple and fast way to accept credit cards with a smartphone
or tablet. Thanks to its clear, affordable pricing with no contracts, credit checks, or complicated setup processes, businesses can get started right away. With
the Square app, you can build a customized register, as well as issue receipts and invoices, track inventory, view sales reports, and manage timesheets.
HITS:
- Predictable flat-rate pricing and no monthly fees
- Suggested for low-volume merchants
- Affordable chip card readers and equipment along with free tools for selling online
- Easy-to-understand flat-fee pricing structure
MISSES:
- Issues with account stability
- Not fitting for high-risk industries
- Flat fee could prove more expensive for larger merchants
- User complaints of account freezes or shutdowns over suspected fraudulent activities
6. Authorize.net

Authorize.Net is another popular payment gateway service provider that lets you accept credit cards through the platform itself or integrate payment with your
existing merchant account. It works with your existing merchant account so you can accept credit cards, electronic checks, and digital payments like Apple Pay
or PayPal via your business’s website. Mobile credit card processing is also available. Features include advanced fraud detection, customer information
management, invoicing, recurring billing, and e-check processing.
HITS:
- Has advanced fraud detection suite great at preventing chargebacks and fraudulent transactions
- Doesn’t have transaction limits with a a super user-friendly administrator site
- Can process transactions is many different currencies, which is especially helpful for a global company such as the one I work for
MISSES:
- Not user-friendly website and the information they required are not as the usual details being asked for
- Costly than other services offering basically the same thing
- The administrator home page is a bit disorderly
7. SecurePay

SecurePay offers a straightforward but efficient way to pay online. It’s a complete online payment solution for ecommerce business owners, offering a number
of useful tools. It became popular for its wide variety of eCommerce tools. Once you have a merchant account, you’ll enjoy security, fast online payments,
detailed payment reports, and versatility as it can be integrated with most ecommerce shopping carts.
HITS:
- Payment rates are according to a business’s processing volume
- An online payment solution that combines two vital e-commerce requirements – an internet merchant account and a payment gateway
- No Setup Fees
- No monthly or annual fees
MISSES:
- Customer service hours aren’t listed
- In-store payment processing is only available thru virtual terminal
- Limited customer support
8. 2Checkout

2Checkout, formerly Avangate, is a global payment platform that provides a secure and compliant gateway in 87 currencies and 15 languages. It allows
companies to accept online payments for physical goods, digital software, and subscriptions from buyers worldwide. It also provides a preintegrated payments
gateway, PCI compliance, international fraud prevention and integration with more than 100 shopping carts.
HITS:
- Predictable flat-rate pricing
- Offers month-to-month agreement
- Ideal for global merchants
- Admirable website and advertising efforts
MISSES:
- Not suitable for card-present merchants
- Held funds
- Not good for high-risk merchants
- Growing number of merchants report dissatisfaction with 2Checkout’s reserve policy
- Poor/slow customer service based on customer reviews
9. CardConnect

CardConnect is a new name in the industry but has already an established name. It offers a variety of solutions based on your needs and budget. For instance,
it has CardPointe for businesses that accept and process payments in a secure way and the Clover for small shops that offers point-of-sale tailored to your
requirements. Plus added other solutions. It commits to its promise to maintain the highest level of security in the industry.
HITS:
- Powerful integrated payments platform
- Interchange-plus pricing available
MISSES:
- Contract length as long as five years
- Early termination fee is as high as $750
- Excessive use of independent sales agents
- Known for poor customer service
10. PaySimple

PaySimple allows you to accept payments online, in person, and on the go. By using PaySimple, you can generate and send invoices via email and your
customers can use the click-to-pay buttons to remit payments online. It also supports recurring billing and has a dashboard that tracks your accounts receivables.
HITS:
- Offers recurring payments solution
- Ideal for service industries
- No early termination fee
- Good subscription and invoicing tools
MISSES:
- The process to set it up is a bit complicated
- Not good for high-volume, card-present merchants
- Not recommended for international merchants
- Untransparent tiered pricing
11. Flagship Merchant Services

Flagship Merchant Services can be easily set you up with a merchant account. It has everything you need to process credit cards on- and off-line with low
rates, month-to-month terms and offers a choice of interchange-plus or tiered pricing plans. It sells processing equipment such as terminals and offers 24/7
customer support.
HITS:
- Offers payment solutions to all types of business, big or small and is a leading reseller of Clover
- No early termination fees
- Month-to-month contracts
- 24/7 customer service
MISSES:
- Pricing is not transparent
- Not a good fit for large businesses
12. Fattmerchant

Fattmerchant is an integrated payment technology platform allowing you to accept credit cards in-store, on the go, over the phone, and online. It provides real-time data analytics and integrations for accounting software, e-commerce platforms, and POS systems. However, it has slightly higher monthly subscription fee, but lower transaction fees than many of Payment Depot’s plans, making it a good fit for large businesses.
HITS:
- Transparent membership pricing
- No percentage markup rate for transactions
- Next-day funding option available
- Month-to-month billing with no long-term contracts
- No early termination fee
MISSES:
- US-based merchants only
- Not suitable for low-volume businesses
13. Fiserv

Fiserv, formerly known as First Data, offers merchant services and Clover equipment to businesses of all types and sizes. It also caters its services to banks and
independent sales organizations that resell them to small and mid-size businesses. Apart from credit card processing, Fiserv offers to check acceptance, ACH
transfers, and advanced security. Rates, fees, and contract terms vary, depending on the agent or reseller and the specific needs and qualifications of your
business.
HITS:
- Has user-friendly and easy to navigate website
- Next-day funding
- Can be integrated with Shopify which can result in lower transaction fees
- Has customization features
MISSES:
- Very expensive; hence, not suitable for new businesses
- Poor customer service
- Fees are more than what the business could support if there was a small down turn
14. Payline

Payline is one of the payment solutions that allows you to pay however and whenever you want to: on-the-go, on a website, in your eCommerce store, or
through a platform of your choice. It offers cost-effective credit card processing solutions with no lengthy contracts to businesses of all sizes. It has multiple plans, each featuring interchange-plus pricing with rates transparently posted on its website. Custom solutions are also available.
HITS:
- Transparent interchange-plus pricing model
- First month free
- Monthly billing with no cancellation fees
- Deposits funds within 2 business days
- Positive customer service reviews
MISSES:
- Monthly fee
- $25 monthly minimum processing requirement
- More difficult to predict payment processing costs
- Fees for losing a chargeback dispute and not completing a PCI compliance survey
- Limited customer support hours
15. Dharma Merchant Services

Dharma is a traditional merchant services provider that specializes in working with independent businesses and offers solutions for accepting online and offline payments. Dharma offers extremely low interchange-plus pricing, particularly for storefront and restaurant payments. Dharma is one of the cheapest options for retail and restaurant businesses processing over $10,000 per month with average transaction sizes above $20.
HITS:
- Interchange-plus pricing offered exclusively
- No annual fee or monthly minimum
- Month-to-month billing with no early termination fees
- Discounted pricing for qualified non-profit companies
- Exceptional sales transparency and highly ethical business practices
MISSES:
- Not suggested for businesses processing less than $10K per month
- No support for high-risk or international merchants