An online payment gateway is cloud-based and it helps merchants receive online payments from customers, while a brick-and-mortar retail store's payment gateway is a point-of-sale (POS) system or a card reader. However, while there are different plans available for Opayo, it's best to have a merchant account to get the most out of the software, not least for reducing transaction fees in the first place. This accounts for 20% of the total score. Square is best known for its POS system, which allows retailers to accept payments in person. Also, many payment methods can be used outside of the shoppers country. They might be a bit more expensive than interchange-plus pricing, but lower volumes minimize the overall difference in cost. Whether youre starting your first eCommerce business or want to add online sales to your brick-and-mortar store, weve published this detailed summary of the best online credit card processing providers to help you find the processor that meets your particular business needs. You'll have access to the following: Dharma Merchant Services -- a long-time Merchant Maverick favorite -- is a great merchant account provider for most businesses (particularly those processing over $10,000/month). This includes a free online store (paid subscriptions are available for those needing advanced features) and shopping cart support, which can be great for businesses that are primarily brick-and-mortar but also do a portion of their business online. Pricing can vary greatly between payment gateways, so we looked at the monthly subscription costs and transaction fees to determine which providers are the most affordable. Opayo, offers not just a merchant gateway, but the ability to directly record all sales and transactions directly into your Sage accounting software. She has more than a decade of editorial experience. Best High-risk Merchant Account Service Providers, Toast POS Review: Features, Pricing & More, 2.9% + 30 cents per successful card charge, Desktop apps for Linux, Mac and Windows; Mobile app for iOS and Android, $59 per month ($125,000 annual revenue max), Works for PayPal, Venmo, digital wallets, credit cards and debit cards, Venmo is 3.49% plus 49 cents per transaction and only available in the United States, Not as feature-rich as some of its competition, No transaction feespay one flat-rate subscription fee per month, Recurring invoices and scheduled payments, Automated clearing house (ACH) processing, Not cost-effective for businesses processing under $5,000 per month, Highly versatile thanks to many customizations and integrations, Instant deposits cost 1% of the transaction, Buy now, pay later options for both in-person and online transactions, Numerous integrations and add-ons available, Flat fee for instant deposits of $10 per month, Processes your application within 24 hours, Flat-rate monthly pricing with no transaction fees, Discounted transaction fees for charities. CDGcommerce: Best Online Credit Card Processing For Low Rates, 9. Flat-rate, transparent pricing with no setup, cancellation or monthly fees. We'd love to hear from you, please enter your comments. Youll pay a $25 monthly fee regardless of usage. That's especially so when you consider the sort of flexibility and convenience offered by PayPal. 2.6% plus 10 cents for in-person transactions. Payline offers pricing based on the service. Theres also a built-in risk management tool that sifts through data to identify and fight cases of fraud. Monthly Gateway Fee: None via our preferred providers: $15.00/mo. Pricing is competitive, with card processing charged at 2.9% per transaction, with no monthly fees, making it ideal for new and small businesses. If you're looking for a quick and easy way to start processing card payment then Stripe has a range of options. 3.5% plus 15 cents for manually keyed transactions. The payment gateway then forwards the payment to the merchants account. Additionally, Dharma may be the best processor around for nonprofits. However, Worldpay has undergone significant changes over the past few years, after being owned by at least two different companies, so it's worth inquiring as to what services are currently available and at what price. Whatever your business situation, we hope this list helps you find the best online payment processor for your business. It supports all major credit cards, including Visa, MasterCard, American Express, Discover, Diners Club and JCB. You can add extras as needed, such as accounting reconciliation syncing or API key integration. Stripe is best known for its payment processing solutions, but it also offers a comprehensive payment gateway. Merchant One is a payment portal that approves 98% of applicants, making it a great choice for businesses with less-than-perfect credit. There's an easy three-step system in place for processing payments via Authorize.net. The payment gateway is the consumer-facing interface that collects payments. The swipe rate, when customers use a portal, ranges from 0.29% to 1.55%. Pick from flexible options that include an All-in-One option with a per transaction rate of 2.9% + 30 or a Payment Gateway Only package with a per transaction rate of 10and daily batch fee 10with no setup fee for both. NerdWallet Compare, Inc. NMLS ID# 1617539, NMLS Consumer Access|Licenses and Disclosures, California: California Finance Lender loans arranged pursuant to Department of Financial Protection and Innovation Finance Lenders License #60DBO-74812, Property and Casualty insurance services offered through NerdWallet Insurance Services, Inc. (CA resident license no. Interchange plus 0.5% and 25 cents per online transaction (if less than $25,000 in monthly card transactions). Swiping In-Person 0.2%, $0.20 per transaction / $20 per month. Millions of companies of all sizesfrom startups to Fortune 500suse Stripe's software and APIs to accept payments, send payouts, and manage their businesses online. all via one gateway. This information may be different than what you see when you visit a financial institution, service provider or specific products site. Performance information may have changed since the time of publication. Keep in mind that no one company or gateway has an overwhelming share of the market, and competition among these companies remains strong. Here are the best payment gateway providers for secure credit card transactions online: Top 7 payment gateway providers; Stripe; PayPal; Square; Payoneer; Adyen; 2Checkout; Braintree; . 10 Best Online Credit Card Processing Companies 2023 - Merchant Maverick Stax: With Stax, you only pay for what you need. But if you already have a high volume of transactions and want a better processing rate or a more reliable processor, you might consider a dedicated merchant account. Monthly minimums might exclude some small businesses. For example, it lets you work with other merchant account providers, provides high-risk accounts, and, if you are a U.S.-based business, enables you to accept payments from anywhere in the world. Commissions do not affect our editors' opinions or evaluations. If youre an omnichannel merchant, Adyen has tools that connect your sales data, wherever you sell. We analyzed these five primary categories for a total of 16 metrics. Here's some of what PaymentCloud offers to online businesses: There are plenty of shady operators in the high-risk payment processing space. $6.95 per month, 0.29% to 1.99% per transaction. Apayment processortransfers information between the issuing and acquiring banks to move money into your merchant account, but it requires apayment gatewayto communicate across the other moving parts and authorize the transaction. Limited options for international payments. Do you prefer a hosted or self-hosted payment gateway? PayPal is normally associated with online marketplace eBay, but its worth noting that since 2020, it ceased to be eBays main payment option (as the company switched to Adyen although PayPal is still offered as an optional payment service). Stripe | Payment Processing Platform for the Internet Best developer-first payments technology platform, Best payment gateway for speed and efficiency, Best out-of-the-box solution for payments, Best payment gateways for flexible payments, Support for credit cards and digital providers. Disclaimer: Merchant Maverick aims to provide accurate and up-to-date information to assist you in your research. You dont even have to call their sales team, eitherthis discount happens automatically the more you process. Helcim: Best interchange-plus pricing for businesses of all sizes. If youre technologically inclined, you might not be worried about buying a domain, building a website, or loading your products or services onto the site. Payment gateways are tools used by merchants to receive payments from customers. Of course, Shopify's full online stores are feature-packed as well. Sign up to the TechRadar Pro newsletter to get all the top news, opinion, features and guidance your business needs to succeed! $2 per account for Stripe Express (for marketplaces) or Stripe Custom (the white-label option that allows businesses to customize the checkout process). Kelly is an SMB Editor specializing in starting and marketing new ventures. The process involves replacing the customers credit card information with random letters and numbers. The credit card gateway providers are responsible for embedding the technology within your website for creating a connection. Ask yourself whether your customers might prefer using an alternative payment method. PayPal develops different ways for consumers to pay, including Venmo and its own service for buy now, pay later. A payment gateway is a secure portal that allows businesses to process payments by checking to make sure the card is real and theres enough money to cover the purchase. Anything outside these parameters tends to have more or fewer features than average. These gateways then pass the transaction information to the customers bank and to the merchants acquiring bank (or the bank that has partnered with the merchant to provide credit card processing services). Braintree is a great choice for businesses of all sizes that want a comprehensive payment gateway solution with no hidden fees. PayPal provides payment processing services for e-commerce vendors, auction sites and other commercial entities globally, and allows you to accept credit cards including Amex and Visa. But here are a few common questions you should consider when choosing your payment gateway provider. And if you're building a non-Shopify online presence, you can still subscribe to Shopify Starter ($5/month) to add buy buttons to your website or your social media posts. Learn the difference between a payment gateway and a payment processor. Past performance is not indicative of future results. NerdWallet strives to keep its information accurate and up to date. When a customer enters their credit card information manually, the qualified keyed transaction rate is 0.29% to 1.99% per transaction. Businesses dont have to spend extra for functions that they never intend to use. Apayment service provider, like PayPal, includes a payment processor and a payment gateway, as well as a merchant account and often other features to handle all aspects of a transaction. Per-transaction fees are $0.15 per keyed transaction and $0.08 per swipe transaction. Some payment portals, such as Braintree, offer a drop-in solution that makes it easy to add payment processing to your site with just a few lines of code. Some of the best payment gateways offer both options, or a similar advantage over the competition. Being a third-party processor, Stripe offers simple, flat-rate eCommerce pricing. Our ratings consider factors such as transparent pricing, employee self-sufficiency, compatibility with third-party integrations, access to customer support and ratings. You want to make sure that the gateway uses the latest encryption technology to protect your customers credit card information from being stolen. Additionally, for larger volume needs, it has a customized plan with volume discounts. Like many other high-risk specialists, the company has no pricing information on its website, but we've gathered some sample pricing ranges for low-risk eCommerce merchants (high-risk merchants will pay more): PaymentCloud is available to all manner of online merchants but specifically caters to businesses in high-risk industries (eCommerce merchants have a greater chance of being classified by banks as "high-risk" than other merchants). Again, some providers might have better pricing, features or services (or all three) to support the payment methodology that your customers like. If you process a large volume of transactions, Helcim offers volume discounts. We selected payment processors with a wide variety of key and unique features, including the ability to create invoices, set up subscriptions and process international payments. Estimates are based on the lowest monthly plan and processing fees for each provider. Square is best for businesses that want to take advantage of customer loyalty tools, which help create repeat business. 2.7% plus 5 cents for in-person transactions. You can expect to pay $25 to $50 per month for a subscription fee and around 2.9% plus 30 cents per transaction for the payment processing fee. By contrast, you could be approved for processing with a PSP in just a few minutes, but youll face an increased risk of account holds, freezes, or even terminations. The vendors that appear on this list were chosen by subject matter experts on the basis of product quality, wide usage and availability, and positive reputation. Email address Create your store Build your dream business for $1/month Start your free trial, then enjoy 3 months of Shopify for $1/month when you sign up for a monthly Basic or Starter plan. When you purchase through links on our site, we may earn an affiliate commission. Our guide to using a payment gateway has more information. Featuring services and pricing that evolve to match the needs of your business as it grows, plus transparent pricing and a reputation for ethical service, CDGcommerce is a very strong choice for online credit card processing. Simple checkout page that looks good on web and mobile. Other important questions to ask include: Karrin Sehmbi is a content management specialist on the small-business team. 3.49% plus 49 cents for Venmo (U.S. only), transactions in non-U.S. currency or transactions outside the U.S. 0.75% for ACH (maximum fee of $5). Additionally, she manages a column at Inc. Magazine. Is it available in your country and those of your customers? This means that they follow the Payment Card Industry Data Security Standard (PCI DSS), which is a set of security standards that all businesses that process credit card payments must follow. Developed with firms of all sizes in mind and offering a choice of plans, the platform gives you the tools to sell items and take payments online, or in-person at a store. There are more payment processing options than ever before, from traditional merchant account providers to third-party pay-as-you-go processors. If you're a smaller outlet, or sole trader, it may not be necessary to have a powerful payment gateway setup. Higher-priced packages include additional features such as enhanced dashboards and a dedicated account manager. Estimates assume an average interchange fee of 1.81% + $0.10, based on our latest available data. It features a complete payments platform with simple, pay-as-you-go pricing currently set at 2.9% plus 30 per successful card charge. We factored in features like a reporting dashboard, invoicing, data exports, contactless payments and software integrations to account for 30% of the score. Note that we are not able to provide private consultations, give advice, or answer questions. Exclusive Promo: PaymentCloud will give you $200 if they can't beat your current rate. Once youve done that, youll need to sign up for a merchant account and get your API key. So, if you sell more in one realm than another, one provider might not cut into your margins as much as another. credit and debit cards; 3.49% + 49 digital payments. With add-ons and optional packages, youll only pay for what you need. The 5 Best Alternatives To Expensify: Which Of These Expensify Competitors Is Right For Your Business? That said, Square does offer respectable eCommerce support and infrastructure. However, choosing the right payment gateway can be a challenge as pricing and transaction fees differ, as do the features and inclusions. Users can take advantage of customer relationship tools to build customer loyalty and employee management tools that help to track hours worked. The payment gateway is responsible for authorizing the credit card transaction and ensuring that the funds are transferred from the customers account to the merchants account. Payment gateways offer the flexibility of being able to take card payments, either online or in-store. At the same time, keep an eye on those terms and conditions, as outlined in our introduction. For online stores, the monthly and transaction fees are $20 and 0.75%. Read our piece on the best eCommerce platforms for a closer look. 12 cents plus 3%-12% for other payment methods, depending on transaction type. Get Started With Durango Merchant Services. Let us know how well the content on this page solved your problem today. Brick-and-mortar retailers and pizza shops have different requirements than a law firm or a dental implant manufacturer. A multi-currency gateway is necessary to accept payments from customers around the world. PaymentCloud is one of our top picks for merchant accounts. Financial infrastructure for the internet. We looked at average ratings and the volume of reviews, as well as what users commonly liked and disliked. Let's go through what else Durango offers: Durango is one of the few high-risk providers of website payment processing that enjoys a great reputation for fair prices and contract terms. The gateways authorize credit card payments for all types of businesses over the internet. If your business has more complex needs, you can choose a payment gateway provider or build a custom solution. So how do we make money? The company also offers mobile solutions designed to accept payments via mobile apps. In Summary: The 10 Best Online Credit Card Processing Companies For Small Business, Want all your POS hardware and software in one place? Accept cards on your website with a payment gateway that meets your needs. on Chase Payment Solutions's secure website. There is a monthly fee and a per-transaction cost, but no markups on interchange fees. It offers a wide variety of features, including the ability to create invoices, set up subscriptions and process international payments. Then, youll need to add the code to your website. If you want to process transactions on your website, youll need to choose a gateway that offers an on-site payment solution. 3.5% plus 10 cents for keyed transactions. All ratings are determined solely by our editorial team. To help, weve rounded up the best payment gateways for a wide variety of business types so you can find the perfect one for you. Get free equipment with some membership levels, and theyll reprogram existing terminals for free. Merchant account isnt directly with Authorize.net. This means that some of the payment gateway options shown above are better suited to smaller, low volumes sales-type outlets. For this reason, we considered ease of use, including how intuitive each gateway is and whether or not there is a learning curve involved. High-risk merchants may be accepted as well. Their subscription model is ideal for businesses that process a lot of transactions. The best HIPAA-compliant payment processing providers are PaymentCloud, Host Merchant Services, Helcim, Square, Dharma Merchant Services, Chase Payment Services, and Clearly Payments. Best HIPAA-Complaint Credit Card Processors In 2023 - Merchant Maverick Interchange plus 12 cents per transaction for Visa and Mastercard. 3.49% plus 49 cents for digital payments (PayPal Checkout and Pay with Venmo). Shopify Payments: Best Online Credit Card Processing For Multiple Sales Channels, 6. Each staff reviewer at Merchant Maverick is a subject matter expert with experience researching, testing, and evaluating small business software and services. Youll need to open a merchant account with a bank and set up the necessary hardware and software to accept credit card payments. The Payline payment processing gateway also integrates with QuickBooks for ease of payroll management, and business financials in general. Best payment gateway: Top 7 in 2023 - Wise Online payment processors fall into two categories: A payment gateway allows you to accept online credit card payments you cant sell online without one.