The best merchant services have competitive processing fees and accept a range of payment types. Some stand out for accommodating high-risk merchants, while others sell a variety of POS systems and card readers, or integrate with popular business apps.
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Here’s our list of the best merchant services and what sets them apart.
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Helcim: Best for interchange-plus processing
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 flat-rate option
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.
$0 for Square POS, Restaurant, Retail and Appointments Free plans.
$29 for Square Appointments Plus plan.
$60 for Square Restaurant Plus plan.
$69 for Square Appointments Premium plan.
$89 for Square Retail Plus plan.
$192 and up for Square Restaurant Essentials Bundle.
Custom pricing for Square Retail Premium plan.
$0 for Square magstripe-only card reader ($10 for each additional reader) or if using Tap to Pay for iPhone (iPhone not included).
$49 and up for Square Reader contactless and chip card reader.
$149 for Square Stand iPad POS or Square Stand Mount (iPad not included; monthly financing available).
$299 for Square Terminal mobile card reader with built-in printer (monthly financing available).
$799 for Square Register two-screen system (monthly financing available).
Dharma Merchant Services: Best for nonprofits
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.
$12 for nonprofits.
$15 for business to business, e-commerce, hospitality, retail and restaurant.
$149 for Walker 2 chip, swipe and NFC card reader.
$295 for First Data FD-150, Verifone Engage V200c, Ingenico Desk/3500 or Dejavoo Z11 terminals.
$369 for Ingenico Desk/5000 terminal.
$480 for FD-150, Desk/3500, V200c or Z11 terminals plus a separate pinpad.
$649 for Clover Flex mobile card reader with printer.
$899 for Clover Mini POS device.
$1,649 for Clover Station Solo POS bundle.
$1,999 for Clover Station Duo POS bundle.
Stripe: Best flat rate for online sales
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.
$0 for standard Stripe Connect.
$2 per account for Stripe Express (for marketplaces) or Stripe Custom (the white-label option that allows businesses to customize the checkout process).
$59 for Stripe Reader M2.
$249 for BBPOS WisePOS E card reader.
$349 for Stripe Reader S700.
Payment Depot: Best for tailored interchange-plus rates
PaymentCloud: Best for high-risk businesses
Quote-based. You’ll have to call to get specific pricing information for your business, but average ranges are:
2.4% plus 10 cents for low-risk retail merchants.
2.8% plus 25 cents for medium-risk businesses, like e-commerce shops.
3.5% plus 25 cents for high-risk merchants.
Quote-based, but ranges from $0 to $50.
Varies by third-party hardware company (e.g., Clover, Dejavoo, Poynt, Verifone and more).
National Processing: Best for free terminal
Basic In-Person Package: 2.5% plus 10 cents per transaction.
Basic E-Commerce Package: 2.9% plus 30 cents per transaction.
Advanced Package: 2.41% plus 10 cents.
Premium Package: quote-based.
$9.95 for Basic In-Person Package, Basic E-Commerce Package.
$9.95 and up for Premium Package (for businesses with monthly sales volumes exceeding $30,000).
$19 and up for Advanced Package.
Undisclosed/quote only. A mobile reader is included with most plans at no additional cost. Based on the plan you select, a terminal and PIN pad may also be included.
QuickBooks Payments: Best for QuickBooks loyalists
For QuickBooks Online users
2.5% for in-person payments.
2.99% for online and invoiced payments.
3.5% for manually keyed payments.
1% for ACH transactions.
For QuickBooks Desktop users
Pay as you go plan (no monthly fee):
Pay monthly plan ($20 monthly fee):
$0 if you already have a QuickBooks Online plan.
$30 ($15 for first three months) for Simple Start plan for new QuickBooks users.
$60 ($30 for first three months) for Essentials plan for new QuickBooks users.
$90 ($45 for first three months) for Plus plan for new QuickBooks users.
$200 ($100 for first three months) for Advanced plan for new QuickBooks users.
QuickBooks Desktop users pay an annual subscription fee for the accounting software.
$39 for QuickBooks charging stand.
$49 for QuickBooks card reader.
$79 for QuickBooks card reader with charging stand.
U.S. Bank Merchant Services: Best for fast deposits
Why we like it: U.S. Bank offers business banking, payment processing and point-of-sale solutions for small businesses. With a variety of monthly plans, transaction rates that are on par with other merchant services providers, no long-term contract, no cancellation fees and no PCI fees, U.S. Bank Merchant Services may be an appealing option for businesses, especially if you’re looking for a single provider for payment processing, business banking and/or a POS solution. Free same-day funding is available if you have a U.S. Bank business checking account.
Merchants opening a new Payment Solutions account are eligible to earn back 2.5% on transaction fees each month through 2025. Terms and conditions apply.
2.6% plus 10 cents for in-person payments.
2.9% plus 30 cents for online payments.
3.5% plus 15 cents for keyed payments.
Sells a variety of hardware including full POS stations, handheld terminals and customer displays. You can purchase hardware outright or rent for a monthly fee. Monthly rental pricing starts at $20 for a handheld terminal plus charger.
Chase Payment Solutions: Best for built-in banking partner
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.
Monthly fee in some instances.
Chase lists pricing for some products, like its terminals and card reader, but hardware costs aren’t readily available for other options. Instead, you’ll have to fill out an online form for more information.
To enable businesses to accept a variety of payment types, merchant services usually include some combination of the following:
POS hardware
POS software
Payment processing services
Payment processing services, which are often available through your POS system provider, work behind the scenes to facilitate the transfer of money from your customers’ accounts to your business’s account. They may include additional tools, like invoicing and reporting, too.
Merchant accounts
Alternatively, you can apply for your own merchant account that is tailored specifically to your business’s needs. Compared to a PSP, individual merchant account providers typically require a more involved application process, meaning you may need to wait longer to begin accepting payments. Though there could be some upfront setup costs, payment processing fees are sometimes negotiable.
Extra features
Merchant services also refers to tools and capabilities that are intertwined with the payments process, like gift cards, loyalty programs, fraud protection, integrations with the rest of your business software ecosystem, reporting and online website features that help you securely accept payments online.
If you’d like to accept credit and debit card payments — and not just cash — your business likely needs a merchant services provider. In addition to helping your business accept card payments, merchant services can also make the checkout process more efficient by offering user-friendly POS hardware, collecting sales data, syncing that data with your accounting software and providing customer support.
Merchant services often include merchant accounts in some capacity, but the two terms aren’t synonymous. Merchant services are made up of a range of products and services — think merchant accounts, payment processing services and POS systems — that help your business accept payments. Some offer individual merchant accounts and others (PSPs) hold multiple businesses’ funds in a single account until they’re transferred to your business’s individual bank account.
Before committing to a merchant services provider, consider the following factors:
Variety of payment types accepted
Make sure your merchant services provider supports all of the payment methods and types your business plans to accept. These may include online and in-person payments, contactless payments, digital wallets, QR codes and PayPal.
Cost
Consider the upfront costs associated with POS hardware as well as the ongoing subscription costs associated with POS software plans. Similarly, compare different provider’s per-transaction rates and fees. There could also be fees for PCI compliance, chargebacks, setup and merchant account maintenance.
POS system compatibility
It’s most convenient to use a merchant services provider that can offer POS systems and payment processing services under the same umbrella. If that’s not an option, make sure the processor integrates with your POS system and, preferably, your accounting software.
Customer service
Think about which days and times you accept the highest volume of transactions and check to see if live customer support is available then. Live chat and phone support are ideal so that you can reach a representative immediately. Some merchant services providers also assign businesses dedicated account managers for one-on-one support.
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