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.
All of our picks for the best payment processing companies are chosen by our editorial team, who follow strict editorial guidelines to ensure fairness and accuracy in our coverage to help you choose the right payment processor for your company. We independently evaluate and rate payment processing providers, scoring them on capabilities, cost, integrations and other features. View our full methodology.
Here are our top picks for the best payment processing companies.
Our Nerdy picks for
Our pick for
E-commerce platform integration
Shopify Payments
4.5
NerdWallet rating
on Shopify Payments' secure website
Monthly fee
$39.00
Basic plan; $105 Shopify plan; $399 Advanced plan.
Shopify POS syncs directly with the Shopify e-commerce platform. However, Shopify does not offer free POS software, and the platform is retail-focused.
Read full review
Pros
- Accepts a variety of payment methods.
- Can customize checkout page.
- Easy to set up and use.
- Transparent, flat-rate fees.
Cons
- E-commerce plan with monthly fee is required to use Shopify Payments.
- Charges fee for use of third-party payment gateway.
Read full review
Our pick for
Overall payment processor
Helcim
5.0
NerdWallet rating
on Helcim's secure website
Monthly fee
$0.00
Unlike flat-rate payment processors that charge the same transaction fee across different types of credit cards, Helcim uses an interchange-plus pricing model. This means your business saves when a customer uses a card with low interchange rates. Helcim also offers volume discounts if you process more than $50,000 monthly, which is a plus for high-volume businesses. And if you need hardware for taking payments in-person, the company sells its own smart terminal and mobile card reader, too.Read full review
Pros
- Interchange-plus pricing structure can help businesses save money.
- Quick setup; approvals usually take a day.
- Offers volume-based discounts automatically.
- Syncs directly with QuickBooks Online and Xero.
- No termination fees or long-term contracts.
Cons
- Deposits are available within two business days; same-day deposit option is not available.
- Doesn’t offer services to businesses in certain high-risk industries.
Read full review
Our pick for
Online, international transactions
Stripe
5.0
NerdWallet rating
on Stripe Payments' secure website
Monthly fee
$0.00
With Stripe Terminal, you can integrate in-person payments into your online payment setup. Transparent pricing and customizable features make it a good choice for online-first businesses looking to extend to in-person sales. However, many features — including connecting hardware to software — require coding experience or “no-code” integrations.
Read full review
Pros
- Highly customizable online checkout options.
- No termination fees or long-term contracts.
- 24/7 phone and chat support.
- Can process transactions in more than 135 currencies.
Cons
- Doesn’t sell full countertop POS terminals.
- Deposits can take up to two business days.
Read full review
Square
5.0
NerdWallet rating
on Square's secure website
Monthly fee
$0.00
Starts at $0/month for unlimited devices and locations.
With its own hardware options, free point-of-sale software, free mobile card reader and accounting integrations, Square is an excellent choice for business owners who value convenience and want an all-in-one system.
Read full review
Pros
Competitive, flat-rate pricing.
Offers free POS systems with many features and functions.
No contract or early-termination fees.
Cons
Lacks advanced POS features.
Doesn't run on Windows devices.
Read full review
Our pick for
POS hardware options
Clover POS
4.0
NerdWallet rating
on Clover POS's secure website
Monthly fee
$14.95
and up.
Clover point-of-sale hardware is pricey, but the reasonable monthly cost and low in-person payment processing fees may help offset that upfront investment over time. However, if you’re doing mostly online sales, processing fees may add up.
Read full review
Pros
- Free plan available if you’re only using a mobile card reader.
- 24/7 phone and email support.
- All restaurant plans include no-fee online ordering, and retail plans let you integrate with existing online stores.
Cons
- Promotions require a three-year contract.
- Charges termination fees, though they may be waived in certain cases.
- Online payment processing rates are more expensive than competitors.
- Popular accounting integrations are only available through third-party apps.
Read full review
Our pick for
High-volume sales
Stax by Fattmerchant
4.0
NerdWallet rating
on Stax by Fattmerchant's secure website
Monthly fee
$99.00
and up.
Stax is known for its pricing. It may be a good fit for businesses processing at least $5,000 in credit card transactions monthly.
Read full review
Pros
- Businesses save when customers use cards with low interchange rates.
- Unique add-on features, like custom branding.
- No long-term contracts.
Cons
- Not a good option for businesses with low sales.
- Pricing isn't as transparent as competitors.
Read full review
Our pick for
Direct processor
Chase Payment Solutions℠
4.5
NerdWallet rating
on Chase Payment Solutions℠'s secure website
Monthly fee
$0.00
Monthly fee in some instances.
Chase Payment Solutions offers a familiar name and top-of-the-line technology, but limited hardware options and the company’s reseller program could make alternatives better options for some businesses.
Read full review
Pros
- Two-in-one processor and acquiring bank.
- Free monthly plans available.
- Using your bank as your processor makes deposits convenient.
Cons
- Some hardware pricing is not readily available.
- No e-commerce integrations.
- Chase’s Business Complete checking account comes with a $15 monthly service fee for some merchants.
Read full review
Our pick for
Alternative payment methods
PayPal
5.0
NerdWallet rating
on PayPal's secure website
Monthly fee
$0.00
Standard; $5 Payments Advanced; $30 Payments Pro.
PayPal is a leader in developing and accepting payments in innovative ways, including through subsidiary Venmo, QR codes, payment links and buy-now-pay-later financing. Because it’s such a widely used platform, PayPal integrates with most websites and shopping carts.
Read full review
Pros
- One of the most commonly used payment processing platforms.
- Easy to use and integrate with website hosts and shopping carts.
- Transparent fixed fees in 25 currencies.
Cons
- PayPal’s offerings are vast and can be difficult to grasp quickly.
- Payment processing can be expensive for small purchases.
- Not ideal for high-risk or high-volume businesses.
Read full review
Our pick for
High-risk merchants
Payline
4.5
NerdWallet rating
Monthly fee
$10.00
in person; $20 online.
Payline’s affordable and transparent pricing helps business owners accurately calculate their payment processing fees, and its user-friendly interface makes it a good option for small-business owners.
Read full review
Pros
- No long-term contracts or cancellation fees.
- First month or two (depending on the business) is free.
- Works with high-risk merchants.
- No PCI compliance fees.
- 24/7 support.
Cons
- Separate monthly fees for in-person and online processing.
- Must contact Payline for information on hardware costs.
Read full review
Our pick for
Nonprofits
Dharma Merchant Services
4.5
NerdWallet rating
Monthly fee
$15.00
for most industries; $12 for nonprofits.
Dharma Merchant Services prioritizes simplicity and affordability. It integrates with most point-of-sale hardware systems.
Read full review
Pros
- Reduced processing rates for nonprofits.
- Businesses save when customers use cards with low interchange rates.
- No long-term contracts.
- No PCI compliance fees.
Cons
- Charges account closure fee.
- Requires separate accounts for online and in-person payments.
- Recurring billing and online invoicing cost an extra $10 per month.
- Deposits can take up to two business days.
Read full review
Our picks for best payment processing companies
Helcim: Best overall payment processor
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.
Interchange plus 0.4% and 8 cents per in-person transaction (if $50,000 or less in monthly card transactions).
Interchange plus 0.5% and 25 cents per online or manually keyed transaction (if $50,000 or less in monthly card transactions).
0.5% plus 25 cents for ACH payments.
Square: Best all-in-one payment processor
Why we like it: Like Helcim, Square has no cancellation fees, PCI compliance fees, setup fees or monthly subscription charges. With its own hardware options, free point-of-sale software, free mobile card reader and accounting integrations, the platform is an excellent choice for business owners who value convenience and want an all-in-one system. Read NerdWallet’s Square review.
2.6% plus 10 cents for in-person transactions.
2.9% plus 30 cents for online transactions.
3.5% plus 15 cents for manually keyed transactions.
3.3% plus 30 cents for invoices.
» MORE: Cheapest credit card processing companies for small businesses
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. While it’s a convenient option, Clover's software plans do come with a monthly fee. Read NerdWallet’s Clover review.
2.3% plus 10 cents for in-person transactions for most plans, though rates may also vary by hardware type.
2.6% plus 10 cents for in-person transactions on Retail Starter, Personal Services Starter and Professional Services Standard plans, as well as Home & Field Services Standard and Advanced plans.
3.5% plus 10 cents for online or keyed-in transactions.
» MORE: Best POS systems
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.
2.7% plus 5 cents for in-person transactions.
2.9% plus 30 cents for online transactions.
3.4% plus 30 cents for manually keyed transactions.
4.4% plus 30 cents for international card transactions.
» MORE: How much are credit card processing fees?
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.
2.29% plus 9 cents for in-person credit and debit card payments.
2.89% plus 49 cents for online credit and debit card payments.
3.49% plus 49 cents for PayPal Payments transactions (PayPal, Pay Later, Pay with Rewards, Venmo).
» MORE: See our full rundown of PayPal's fees
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.
2.5%, 2.7% or 2.9% plus 30 cents for online payments for Advanced, Shopify or Basic plan, respectively.
2.4%, 2.5% or 2.6% plus 10 cents for in-person payments for Advanced, Shopify or Basic plan, respectively.
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.
2.6% plus 10 cents for in-person transactions.
2.9% plus 25 cents for online transactions.
3.5% plus 10 cents for keyed transactions.
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.
Interchange plus 8 cents for in-person transactions.
Interchange plus 15 cents for manually keyed transactions.
Payline: Best for high-risk merchants
Why we like it: Payline is a great solution for businesses in high-risk industries that can’t get merchant accounts from more traditional payment processing companies. Businesses that aren’t high risk, however, have to pay for two plans if they want to accept payments in-person and online. Read NerdWallet’s Payline review.
Interchange plus 0.4% and 10 cents for in-person transactions.
Interchange plus 0.75% and 20 cents for online transactions.
Dharma Merchant Services: Best for nonprofits
Why we like it: With 24/7 customer support, no long-term contracts and no PCI compliance fees, Dharma Merchant Services is a solid choice for small businesses that process at least $10,000 of card transactions each month. The company also offers lower monthly fees and processing rates for nonprofits, which makes it a strong choice for these organizations. Read NerdWallet’s Dharma Merchant Services review.
Interchange plus 0.15% + 8 cents for in-person transactions.
Interchange plus 0.20% + 11 cents for online transactions.
Interchange plus 0.25% + 8 cents for in-person AmEx transactions.
Interchange plus 0.30% + 11 cents for online AmEx transactions.
What is a payment processing company?
A payment processing company works behind the scenes to finalize 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. Payment processors charge a fee for each transaction, and may also require a monthly software subscription.
» MORE:What is a payment processor and how does it work?
