According to a survey carried out by the company Weave, which specializes in business technology, close to thirty percent of clients of small companies have been prevented from purchasing at a physical shop because "their method of payment wasn't accepted.
Because monthly services may add up to a significant expense, it is essential to investigate all of your alternatives before deciding which merchant services provider to work with. However, there are more than a thousand different credit processors. To reduce our options, we searched for businesses that provide additional services, many integrations, and high levels of dependability. According to the comprehensive research, the following are the most reputable firms that handle credit cards.
Helcim
Helcim assists you in expanding your company by providing you with volume-based discounts and transparent pricing.
Pros
- The package includes CRM and inventory management capabilities.
- There are many different ways to seek help.
- discounts determined on sales volume
- The convenience of online approval makes signing up a breeze.
Cons
- There is just one plan available and only one kind of hardware to pick from.
Since 2006, Helcim has been operating as a payment processor. Since then, the firm has evolved into a financial technology company that provides various solutions for businesses. Helcim is a terrific alternative with many possibilities for small company owners since it does not charge monthly fees and has a price structure that pays you for bigger volumes. As a result of these features, Helcim is our top overall winner. The organization adheres to the most stringent security standards possible, as Level 1 PCI-DSS certified service providers require. It follows the kinds of security procedures common among financial technology businesses.
PayPal
Quick, using what you already know, and simple to operate for companies with lower monthly sales statistics.
Pros
- Quick and easy setup
- Provides possibilities for mobile wallets inside the shop
- There are no recurring costs or commitments.
Cons
- Not designed for use in situations with a large number of transactions
- If the firm thinks you are engaging in fraudulent activities, it has the right to withhold your cash.
- Does not provide phone help around the clock
PayPal is a well-known and respected company operating online since 1998. You may now provide PayPal as a payment option in your business, just as most online retail establishments already do. PayPal stands out above other payment processing options because it provides the finest merchant services for companies with a modest number of transactions.
PayPal is compliant with many PCI standards and has certifications in various related areas, including the Mastercard Site Data Protection Program and the Visa Cardholder Information Security Program. PayPal is an excellent method for swiftly accepting payments since there are neither monthly fees nor setup charges associated with using the service. There are additional expenses associated with using PayPal; however, if your company has a modest number of transactions, you won't often run into too many of them, except for the chargeback fee, which is $20.
Processing on a National Scale
Due to the lack of frills associated with this service, it is kind to one's wallet and delivers processing at competitively cheap pricing.
Pros
- No required minimum amount each month
- Several different plans
- Transparent pricing
- The most affordable prices
Cons
- There is a possibility that you may be charged an early termination fee.
- No pricing is indicated for the equipment, and neither ACH nor eCheck processing fees can be found on the website.
- Since it was founded in 2007, National Processing has consistently received positive feedback from the owners of small to medium businesses on the reliability of its services and the transparency of its pricing.
- You can process payments with a minimal price per transaction using its plans that cost $9.95 per month, making it the undisputed victor with the lowest costs.
Square
It will just take a few minutes for you to be able to accept credit card payments both in-store and online.
Pros
- Fast setup
- No-cost point-of-sale software
- Many equipment options
Cons
- Because of possible fraudulent activity, payments may need to be withheld.
- Square is a well-known and well-respected firm that has been in business since 2009 and provides various services to help your expanding business. With Square, you can begin taking credit cards at your company within five minutes, making it the most convenient quick, and simple setup option.
Square is the leader in the market when it comes to technology and security standards, including end-to-end encryption, and conforms to all of the PCI requirements that are in place. You will be provided with a free point-of-sale system compatible with smartphones made by Apple and Android. In addition, Square can expand with your business by providing a variety of options such as:
- Programs that reward loyalty
- Services related to processing payroll
- e-Commerce website design
- Software for making appointments and organizing schedules.
