Payment Gateway VS Payment Processor: When Do You Need A Payment Gateway?
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Aug 12, 2024
Filed under: Credit Card Processing, Payment Gateways
Best Payment Gateway Providers For Small Business
From online carts to in-store checkouts, a payment gateway tracks every sale in one integrated system.
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WRITTEN & RESEARCHED BY
Editor & Senior Staff Writer
UPDATED
Our content reflects the editorial opinions of our experts. While our site makes money through referral partnerships, we only partner with companies that meet our standards for quality, as outlined in our independent rating and scoring system.
We’ve evaluated the top payment gateways based on pricing, security, in-person sales features, and contract terms. Here are our top picks.
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Compare Our Top Picks
| Provider | Best For | Monthly Fees | Next Steps |
|---|---|---|---|
 | Best For Customization | None (for basic accounts) | |
 | Best For Global Payments | None | |
 | Best For Processor Flexibility | $25/month gateway fee (waivable) | |
 | Best For Multichannel Businesses | None (for basic accounts) | |
 | Best For Amazon Sellers | None | |
| Show More Options | |||
 | Best Global Payment Gateway | None | |
 | Best eCommerce Payment Options | None | |
 | Best For Interchange-Plus Pricing | None | |
| Show Fewer Options |
Stripe Payments
Best OverallBest For Customization
Stripe is best for businesses that want a customizable online payment system with strong developer tools.
Stripe supports online checkout, invoicing, subscriptions, recurring billing, fraud prevention, international payments, local payment methods, and eCommerce integrations. It’s a solid pick for businesses that want to build payment features into a website, app, marketplace, or software platform.
Ideal For
Domestic & international eCommerce
Provider Type
Payment Services
Online Processing Rates
2.9% + $0.30 (2.2% + $0.30 for nonprofits)
PROS
- Pay-as-you-go pricing
- No setup or monthly fees
- No long-term contracts or ETFs
CONS
- Expensive for higher volume
- Risk of account holds/terminations
Airwallex
Best For Global Payments
Airwallex is best for businesses that sell, pay suppliers, or manage operations across multiple countries.
Airwallex offers multi-currency business accounts, global payment acceptance, local payment methods, international transfers, corporate cards, expense tools, invoicing, and eCommerce and accounting integrations. Businesses can hold, send, and receive funds in multiple currencies to reduce unnecessary conversions.
Ideal For
Global businesses
Provider Type
Payment Services
Online Processing Rates
Varies by region/payment method
PROS
- Cross-border payments and FX
- Local currency accounts
- All-in-one platform
CONS
- Limited in-person/POS functionality
Authorize.Net
Best For Processor Flexibility
Authorize.Net is best for businesses that want a widely supported payment gateway that can work with many merchant account providers.
Authorize.Net supports credit and debit cards, ACH and eCheck payments, mobile wallets, fraud tools, customer profiles, subscriptions, and international transactions. Businesses can use it through a reseller or pair it with an existing merchant account.
Ideal For
Integrating with other merchant accounts
Provider Type
Merchant Account
Online Processing Rates
Custom
PROS
- Supports most merchant accounts
- Multi-currency support
- Security and fraud tools
CONS
- Direct pricing can be expensive
- High merchant account rates
Square
Best For Multichannel Businesses
Square is best for businesses that want to sell online and in person through one connected system.
Square includes a free POS system, online store builder, card readers, invoicing, inventory tools, and industry-specific software for retail, restaurants, and service businesses. It’s a solid pick for sellers who want simple setup, synced sales channels, and room to add more Square tools over time.
Ideal For
Retail, restaurant, & service businesses with in-person sales
Provider Type
Payment Services
Online Processing Rates
2.9% - 3.3% + $0.30
PROS
- Online and in-person payments
- Free eCommerce store builder
- Free POS software included
CONS
- Account stability issues
- Not for high-risk businesses
- Limited customization
Amazon Pay
Best For Amazon Sellers
Amazon Pay is best for online sellers who want to offer shoppers a familiar Amazon checkout option.
Amazon Pay lets customers use the payment and shipping details stored in their Amazon accounts to check out on a business’s website. Merchants manage Amazon Pay through Seller Central, where they can handle transactions, reporting, integrations, and account settings.
Ideal For
Amazon sellers
Provider Type
Payment Services
Online Processing Rates
2.9% + $0.30
PROS
- Pay-as-you-go billing
- No monthly account fees
- Predictable flat-rate pricing
CONS
- Risk of account holds/termination
- No in-person payment support
2Checkout
Best Global Payment Gateway
2Checkout (powered by Verifone) is best for online businesses that sell internationally and need global payment support.
2Checkout supports online payments, localized checkout, recurring billing, fraud tools, and integrations with 120+ shopping carts. It’s designed for eCommerce, subscriptions, and digital sales rather than in-person payment processing, so it’s not the right choice for businesses that need card readers or terminals.
Ideal For
International eCommerce
Provider Type
Payment Services
Online Processing Rates
3.5-4.5% + $0.35-$0.45
PROS
- Predictable flat-rate pricing
- Month-to-month billing
- Support for international merchants
CONS
- No card-present transactions
- Not available to high-risk merchants
Braintree Payment Solutions
Best eCommerce Payment Options
Braintree is best for online businesses that want PayPal, Venmo, cards, ACH, and digital wallets in one payment gateway.
Braintree offers merchant accounts, flat-rate processing, fraud tools, recurring billing, an encrypted card vault, and eCommerce integrations. It also supports custom pricing for established businesses.
Ideal For
PayPal & Venmo sales
Provider Type
Merchant Account
Online Processing Rates
2.89% + $0.29 (2.19% + $0.29 for verified nonprofits)
PROS
- Competitive flat-rate pricing
- Free, unrestricted data portability
- PayPal, Venmo, and digital wallets
CONS
- Not ideal for low-ticket sales
- No in-person payments
Helcim
Best For Interchange-Plus Pricing
Helcim is best for businesses that want a full merchant account with transparent interchange-plus pricing and no monthly account fee.
Every Helcim account includes access to online payments, invoicing, a virtual terminal, payment gateway, POS software, inventory tools, customer vault, fraud tools, and card readers or terminals for in-person sales. Volume discounts are built into Helcim’s pricing model.
Ideal For
Mid-size & larger businesses
Provider Type
Merchant Account
Online Processing Rates
Interchange + 0.15-0.50% + $0.15-$0.25
PROS
- Interchange-plus pricing
- Integrated payments and POS
- No long-term contracts
CONS
- Not for high-risk businesses
- Not for low-volume businesses
Best Payment Gateways For Small Business
Frequently Asked Questions
Erica Seppala
Editor & Senior Staff Writer at Merchant Maverick
Erica has been writing about small business finance and technology since 2008. She joined Merchant Maverick in 2018 and specializes in researching and reviewing business software, financial products, and other topics to help small businesses manage and grow their operations. Her expertise has been cited in MSN, Reader's Digest, Vox, U.S. News & World Report, and Real Simple. She is a Certified ProAdvisor for QuickBooks Online and QuickBooks Payroll, a graduate of Limestone University, and currently resides in Greenville, South Carolina.
View Erica Seppala's professional experience on LinkedIn.
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