6 Fantastic Retail Merchant Services With Everything You Need To Run Your Shop

Perennial small-business favorite Square is an excellent choice for a retail or omnichannel business. Sign-up is as easy as it gets, pricing is simple and transparent, and there are no long-term contracts to worry about. However, be aware that as a payment service provider (PSP), Square doesn’t offer the stability of a full-service merchant account. It also doesn’t accept high-risk businesses (with the exception of a special program for CBD merchants).

Square For Retail is the company’s special program for retail businesses that need something more than just a simple credit card reader to run their shops. Square For Retail includes an iPad-based POS system that features an entirely redesigned user interface, optimized for searching and scanning to manage a large inventory.

You’ll also need processing hardware to accept in-person payments, and Square offers a variety of affordable Square-branded credit card readers that work seamlessly with the Square For Retail software. Equipment can be purchased outright or on an installment plan for some of the more expensive options.

Square’s flat-rate pricing is ideal for new or low-volume businesses. However, be aware that this type of pricing actually becomes more expensive at higher monthly processing volumes. Luckily, Square offers custom pricing to merchants processing more than $250,000/year.

• No setup or application fees
• $0/month for Square Free account ($60/month for Square For Retail Pro plan)
• 2.6% + $0.10/card-present transaction
• 2.9% + $0.30/online transaction
• 3.5% + $0.15/manually keyed-in transaction
• 1%/ACH transaction (minimum $1 charge)
• No ACH reject or chargeback fees
• Square Contactless & Chip Reader — $49 each
• Square Stand With Contactless & Chip Reader — $169
• Square Terminal — $299
• Square Register — $799 (or $39/month for 24 months)

• Aggregated account for credit and debit card processing
• Mobile card reader (magstripe-only) included with an account
• EMV and NFC-capable card readers are available
• Square Register POS system available
• ACH processing included with every account
• Square Online Store for eCommerce sales channel
• Analytics and reporting available through Square Dashboard

All Square accounts are offered on a month-to-month basis, with no long-term contracts or early termination penalties. You can close your account at any time, but be aware that Square’s proprietary processing hardware cannot be reprogrammed to work with another processor.

We chose Host Merchant Services as one of our top picks for retail credit card processing due to its wide range of products and services, flexible contract terms, and excellent pricing transparency. Host Merchant Services offers its own proprietary Bonsai POS system, as well as the popular Clover and Vital POS product line. It’s also one of the few merchant services providers that include free web hosting for online sales as a standard account feature.

Host Merchant Services fully discloses its pricing on its website, and its combination of interchange-plus processing rates and low account maintenance fees make it a very affordable choice for any small retail business. The company also accepts a wide variety of high-risk industries. Be aware, however, that high-risk merchants will be onboarded by a different backend processor, and pricing and contract terms will be very different (and much more expensive) than those advertised for low-risk businesses.

• No application or setup fees
• $14.99/month account fee
• Interchange + 0.25% + $0.10/retail transaction
• Interchange + 0.35 + $0.10/eCommerce transaction
• $5.00/month gateway fee (optional)
• $15 chargeback fee
• No PCI compliance fee
• No early termination fee

• Full-service merchant accounts
• Accepts most high-risk industries
• Full line of countertop and mobile credit card terminals
• Free terminal available to merchants processing over $20,000/month
• Vital and SwipeSimple mobile processing solutions
• Proprietary Bonsai POS system available
• Clover and Vital POS systems are available
• Authorize.Net payment gateway
• Proprietary HMSExpress payment gateway
• Virtual terminal included
• Web hosting included with an account
• Cash discounting program available

Host Merchant Services offers month-to-month billing for all low-risk businesses. There are no long-term contracts or early termination fees. Contract terms, however, will be different for high-risk merchants and will likely include a long-term contract of some kind.

We chose Dharma Merchant Services as one of our top processors for retail businesses primarily on the basis of the company’s commitment to full pricing transparency. Dharma is also an excellent choice for any low-risk small to medium-sized business that’s looking for interchange-plus pricing and Clover hardware. Like most of our other top choices, you’ll also enjoy month-to-month billing with no long-term contracts or early termination fees (although a fully-disclosed $49 account closure fee is required if you close your account). Dharma does not, however, accept high-risk businesses.

• $25/month account fee ($20/month for nonprofits)
• Interchange + 0.15% + $0.08/card-present transaction (volume discounts available)
• Interchange + 0.10% + $0.08/card-present transaction (qualified nonprofits)
• Interchange + 0.20% + $0.11/card-not-present transaction (volume discounts available)
• Interchange + 0.10% + $0.11/card-not-present transaction (qualified nonprofits)
• No gateway fees with MX Merchant
• No annual fee
• No PCI compliance fees
• No monthly minimum
• $49 account closure fee

• Full-service merchant accounts through Fiserv or TSYS
• Full line of credit card terminals, including Verifone Engage V200c, Fiserv FD-150, Ingenico Desk/5000, and Dejavoo Z11 models
• Full line of Clover POS systems
• MX Merchant integrated payment platform
• Choice of Authorize.Net or MX Merchant payment gateways
• QuickPay virtual terminal
• Credit card surcharging (no-fee, zero-cost credit card processing) program available

Dharma Merchant Services does not require long-term contracts of any type. There are no early termination fees, and all billing is on a month-to-month basis. While you can close your account at any time, be aware that a $49 account closure fee will be charged.

Canadian processor Helcim serves low-risk merchants in both the United States and Canada. With no monthly fee, the company offers one of the lowest-cost ways to get a full-service merchant account. Helcim’s pricing is comparable to Square’s, with the added bonus that you won’t have to settle for an aggregated account like you would with Square. Instead, you’ll get a full-service merchant account that will be at very little risk of suddenly being frozen or shut down.

For processing hardware, Helcim offers the proprietary Helcim Card Reader, which can function as a countertop terminal or as part of a mobile payments system or POS. For a small retail business, Helcim offers everything you need at a very low price. The company has also received a lot of praise from merchants for its excellent customer support.

The one tradeoff to consider, however, is that Helcim is able to keep its pricing very low in part by not accepting any high-risk merchants. If you’re in a high-risk category, you’ll have to look elsewhere for credit card processing.

• Interchange + 0.30% + $0.08/card-present transaction (volume discounts available)
• Interchange + 0.50% + $0.25/card-not-present transaction (volume discounts available)
• Helcim Card Reader — $109/unit
• No monthly or annual account fees
• No PCI compliance fees
• No monthly minimum

• Full-service merchant account
• Proprietary Helcim Card Reader for in-person payments
• Helcim Payments app for mobile processing
• Virtual terminal included with each account
• Helcim POS software (requires tablet, laptop, or desktop computer)
• Access to Helcim API for customized credit card payments

Helcim’s contracts are all on a month-to-month basis and don’t require a long-term commitment. You can cancel your account at any time without penalty. Be aware, however, that the Helcim Card Reader and Helcim POS software will not work with any other credit card processor.

Another great low-cost option, National Processing is an excellent choice for merchants looking for transparent pricing and access to the popular line of  Clover POS products. National Processing offers full support for retail merchants, including a variety of credit card terminals that you can purchase outright or include for “free” with your account. Note that a long-term contract will apply in the latter case.

National Processing offers merchants a choice between interchange-plus and membership pricing, although we generally recommend the interchange-plus option for small businesses due to the high upfront cost of the monthly subscription fee for the membership pricing plan. ACH processing is also available as an add-on but requires an additional monthly fee. Like many other providers these days, National Processing also offers a cash discounting program if you want to pass your credit card processing costs onto your customers. This program stands out from similar offers from competing providers in that it does not require a monthly fee.

National Processing offers excellent customer service and technical support and is one of the cheapest options available to small retail businesses. In calculating your overall costs, be aware that most Clover terminals and POS systems (with the exception of the mobile Clover Go card reader) require a monthly software subscription fee on top of your other costs.

• $9.95/month account fee (interchange-plus plans)
• $59.00-$199.00/month subscription fee (membership plans)
• $7.95/month PCI compliance fee
• $0.00/month for the cash discounting program (optional)
• $15.00/month and 0-1.5% + $0.48/transaction for ACH and echeck processing (optional)
• Interchange + 0.18% + $0.10/transaction (interchange-plus plans)
• Interchange + $0.09/transaction (subscription plan)
• Interchange + $0.05/transaction (subscription-plus plan)

• Offers a choice between either interchange-plus or membership pricing plans
• Offers mobile processing with a Clover Go card reader
• “Free” credit card terminal available
• No long-term contract if processing hardware is purchased outright
• Offers ACH and echeck processing as an add-on

National Processing generally offers month-to-month billing with no long-term commitment or cancellation penalties. However, if you accept a free credit card terminal with your account, you’ll also have to agree to a standard three-year contract. Luckily, National Processing only enforces the early termination fee if a merchant drops them in favor of a competing provider.

PaymentCloud serves low, medium, and high-risk businesses but excels as one of the best merchant account providers for high-risk businesses. Industries accepted include nutraceuticals and supplements, guns and firearms, cigarettes and tobacco, vape and e-cigarettes, and hunting and outdoor equipment, plus many others.

PaymentCloud stands out for the very hands-on approach it takes during the initial application and underwriting process. After approval, it continues to work closely with merchants for follow-up support. PaymentCloud gives you a dedicated account manager to take care of problems that may arise, and that’s probably why we don’t see many customer complaints on the internet.

Like most high-risk processors, PaymentCloud doesn’t publish processing rates on its website. It works with many back-end processors to ultimately find one that will take your business, so rates and fees will be tailored to each merchant. PaymentCloud offers both tiered and interchange-plus pricing models, so if you’re only given a tiered rate, be sure to ask for an interchange-plus rate quote, too.

Be prepared that your rates will be higher than those of an average-risk merchant and that you’ll likely have to sign a multi-year contract with a lot of restrictions and fees. This is not ideal, but it’s fairly typical for a high-risk business.

PaymentCloud can give you one free loaner credit card terminal with your account, but you must return it if you stop processing with PaymentCloud. PaymentCloud also sells terminals from several different manufacturers, if you wish to buy one outright. The terminals are all EMV-compliant and can support mobile wallets (such as Apple Pay and Google Pay) through NFC. The company also offers a full range of point-of-sale (POS) systems if you need something with more features and capabilities than a standard terminal.

• No account setup fee
• No monthly minimum (low-risk accounts)
• Interchange + 0.05%-0.30% + $0.08-$0.10 per transaction (low-risk accounts)
• Processing rates vary by acquiring bank/back-end processors (high-risk accounts)
• $15/month account fee (low-risk accounts)
• Account fees vary by the acquiring bank/back-end processor (high-risk accounts)

• Mobile processing solution available
• Offers a variety of countertop credit card terminals
• Paysley QR-code payment service is available
• ACH and echeck processing are available
• Virtual terminal included
• Authorize.Net, NMI, or USAePay payment gateways are available

PaymentCloud usually requires a long-term contract for most high-risk accounts, although specific terms and conditions will vary depending on which backend processor underwrites your account. Low-risk merchants can usually receive month-to-month billing if they buy their equipment outright or have an existing terminal reprogrammed. Accepting a free terminal with your account will require you to agree to a long-term contract.