Advertiser Disclosure

💳 Save money on credit card processing with one our top 5 picks for 2021

9 Cheapest Credit Card Processing Companies To Save Your Small Business Money

Advertiser Disclosure: Our unbiased reviews and content are supported in part by affiliate partnerships, and we adhere to strict guidelines to preserve editorial integrity.
Cheapest credit card processing companies for small business

Do you want to accept credit cards but hate the thought of losing your hard-earned money? Unfortunately, you usually can’t accept credit cards without paying for a merchant account, which can be very expensive for a small business if you go with the wrong provider. With pandemic-related financial strains making this an especially bad time to take on big new expenses, we want to help you find the cheapest credit card processing.

But first, a caveat. While there’s nothing wrong with seeking the cheapest way to accept credit card payments, looking up “cheap” in the Merriam-Webster Dictionary reveals that cheap can mean “charging or obtainable at a low price.” It can also mean “of inferior quality or worth.” Nobody wants the latter!

That’s why, with this list, we selected providers that charged the lowest credit card processing fees without sacrificing value so that you can keep the best profit margin for your small business.

Learn More About Our Top Picks

CompanyHighlightsNext StepsHighlights
Payment Depot

Read More

  • Best for mid to large-sized businesses
  • Ideally priced for businesses that process larger tickets
  • Best for mid to large-sized businesses
  • Ideally priced for businesses that process larger tickets

Visit Site

Read More

Stax by Fattmerchant

Read More

  • Best for an all-in-one merchant account provider
  • Offers proprietary Omni POS software
  • Best for an all-in-one merchant account provider
  • Offers proprietary Omni POS software

Visit Site

Read More

PaymentCloud

Read More

  • High-risk processor
  • Reasonable rates and fees
  • High-risk processor
  • Reasonable rates and fees

Visit Site

Read More

Square

Read More

  • Predictable pricing for newer businesses
  • Robust software feature set
  • Predictable pricing for newer businesses
  • Robust software feature set

Visit Site

Read More

National Processing

Read More

  • Full-service merchant account
  • No-frills, low fee merchant, low fuss
  • Full-service merchant account
  • No-frills, low fee merchant, low fuss

Visit Site

Read More

Other Featured Options:

  • CDGcommerce:
    • Best for eCommerce businesses
    • Offers different pricing structures for businesses at all stages of growth
  • Payline:
    • Available for mobile and online payments to in-store sales
    • Special non-profit pricing available
  • Chase Merchant Services:
    • Direct processor with an established name
    • Willing to work with small businesses to offer lower processing rates
  • PayPal:
    • Online payment services giant
    • International reach
    • Trusted name

Read more below to learn why we chose these options.

How We Chose The Cheapest Merchant Service Processors

When finding the best merchant rates for small businesses, we used a number of criteria, including:

  • Pricing: We’re highlighting the cheapest merchant services, so pricing considerations are at the top. It isn’t that simple, however. Pricing can be very complex, and there are many variables to analyze when making a cost comparison between one provider and another. Our Complete Guide To Merchant Account & Credit Card Transaction Fees shows you just how complicated processing rates can be.
  • Contracts: No one wants to be stuck in a long-term contract with an expensive early termination fee if you close your account early. Unfortunately, many traditional merchant account providers still impose ETFs. All the companies profiled here — including PSPs and full-service merchant account providers — generally provide month-to-month contracts. You can close your account and switch providers whenever you want with no penalty.
  • Hardware: Unless your business is eCommerce-only, you’ll need equipment to process your customers’ credit cards. With the processors profiled in this article, you’ll find EMV-compliant credit card terminals, POS systems, options in contactless payments, and mobile processing. To make our list, equipment had to be competitively priced — some are free!
  • Integrations & Add-On Services: Syncing your business’s essential parts and being ready to scale are critical to finding the cheapest merchant services for small businesses. If the service saves time or reduces redundancy, it is saving you money. Each option below has a healthy list of integrations or built-in tools ready to add on or are already included with your merchant account.

Let’s go through our top picks for the cheapest credit card processing for small businesses.

The 9 Cheapest Credit Card Processing Companies For Small Business

When researching lower-cost credit card processors, we recommend taking into consideration the rate, monthly fees, included features, ease of use, and how much time it saves you. Find out which processor would be the best fit for your small business from our list, which includes Payment Depot, Stax by Fattmerchant, PaymentCloud, and more!

1. Payment Depot

Payment Depot



Visit Site

Read our Review

Payment Depot’s subscription-based pricing model has no percentage-based markup, so it saves the most money for businesses that frequently process larger tickets.

We appreciate Payment Depot’s model because it combines all your recurring fees (e.g., payment security, virtual terminal) into a single subscription fee, starting at $79/month for the Starter plan. We also like that PD charges some of the lowest credit card processing fees with the elimination of the percentage markup.

In addition to its transparent pricing model, Payment Depot offers numerous integrations, including:

  • QuickBooks
  • Authorize.Net
  • Opencart
  • WooCommerce

You can get set up right away with what you need and have plenty of options when it comes time to expand. Payment Depot also offers a wide range of reasonably-priced card processing hardware, including contactless readers.

With excellent customer support and consistently good reviews from merchants, Payment Depot offers great value for the price. Check out our full Payment Depot review to learn more about its pricing model, terminal options, user reviews, FAQs, and more.

Pros

  • Free payment gateway and virtual terminal
  • No application or setup fee
  • Transparent membership pricing

Cons

  • Accepts only US-based merchants
  • Not suitable for high-risk businesses

Get Started with Payment Depot

Read our in-depth review

Jump back to comparison chart

2. Stax By Fattmerchant

Stax by Fattmerchant



Visit Site

Read our Review

Stax by Fattmerchant has long been one of our best-rated all-in-one merchant account providers. The company offers a 0% markup rate and a subscription pricing model. Additionally, free invoicing, a virtual terminal, and POS software all come standard with your account.

Stax features subscription-based pricing — you’ll get processing for $99/month (if you process less than $5 million per year) and the Stax Pay software package for $49-$129/month (depending on your subscription level). Don’t let that monthly fee discourage you. In reality, the 0% markup could save a high-volume business so much money that it more than pays for the monthly fee. Check out The Complete Guide To Stax By Fattermerchant Fees & Pricing For Small Businesses to see how it breaks down.

We also like the robust feature set, which includes invoicing and billing features, inventory management, and advanced reporting. Stax also offers several add-on features if you need them, such as an ACH subscription, same-day funding, dispute manager, EBT processing, and more.

To help businesses adapt to the COVID era, Stax now offers an entire suite of products designed for brick-and-mortar merchants looking to move online and upgrade hardware to contactless payments.

Stax is a top processor choice because of its versatility, predictability, reliability, and value for a variety of business types. Whether you run a standard retail business, an online store, a phone order business, a professional services business, or any other kind of business, we recommend Stax as a good place to begin your processor search. For more details regarding hardware, eCommerce tools, and more, see our in-depth Stax by Fattmerchant review.

Pros

  • Month-to-month billing and no long-term contract
  • No percentage markup rate
  • Next-day funding available

Cons

  • US-based merchants only
  • Not suitable for low-volume businesses

Get Started with Stax by Fattmerchant

Read our in-depth review

Jump back to comparison chart

3. PaymentCloud

PaymentCloud



Visit Site

Read our Review

Businesses categorized as high-risk can have a hard time finding reasonable processing rates, which is why we’re fans of PaymentCloud. Specializing in high-risk credit card processing and offering top-notch customer support, we find this company consistently delivers excellent value.

PaymentCloud doesn’t seem to take advantage of high-risk businesses, unlike many other high-risk processors we’ve reviewed. The company keeps costs low by partnering with bigger banks to maximize the odds of your approval and ongoing stability. It also doesn’t have an exorbitant markup past the interchange fee.

The company offers a variety of eCommerce tools:

  • Shopping cart integration (e.g., Shopify, Shift4Shop)
  • eCheck and ACH processing
  • Payment gateway (e.g., Authorize.Net, USAePay)

You also have several options for card processing hardware for in-person sales, including contactless terminals. Keep in mind, though, that processing hardware ultimately depends on the back-end processor, so not every terminal or reader will be available to you. For more details regarding what PaymentCloud offers, visit our full PaymentCloud review.

Pros

  • Specializes in high-risk businesses
  • Reasonable rates
  • Excellent customer service

Cons

  • Pricing not disclosed on the website (varies based on the back-end processor)

Get Started with PaymentCloud

Read our in-depth review

Jump back to comparison chart

4. Square Payments

Square



Visit Site

Read our Review

Square is best for businesses looking for a robust feature set with no monthly fees. The Square POS is free and includes great security and features, such as reporting, free invoicing and virtual terminal, free email marketing features, and more.

While Square doesn’t offer the absolute lowest credit card processing fees, Square is a third-party processor with convenience at the heart of its service. As such, the company makes taking credit cards more accessible to small businesses. It also provides many features you won’t find anywhere else, and it doesn’t charge extra for them.

What we really love about Square are all of the free features that build on the overall value. On your dashboard, you’ll find the features I mentioned. You’ll also have built-in payment security, a customer directory, a free online store, and now Square Online Checkout — payment links or buttons you can place just about anywhere. Square was built with a very low learning curve in mind; the UI is incredibly easy to navigate and helps you find what you need.

You can buy a variety of processing hardware from Square. It has a solution for contactless payments for every piece of hardware, including QR codes for mobile devices. You are pandemic-ready regardless of which hardware you use.

For a more detailed look, check out our full Square review. We even have a complete guide to Square pricing.

Pros

  • Predictable flat-rate pricing
  • Affordable readers
  • A robust free feature set

Cons

  • Account stability issues
  • Not suitable for high-risk industries

Get Started with Square

Read our in-depth review

Jump back to comparison chart

5. National Processing

National Processing



Visit Site

Read our Review

National Processing is ideal for those looking for the features and stability of a full-service merchant account. It offers:

  • Low interchange-plus rates
  • Ability to accept ACH/echecks
  • Contactless payments-ready Clover hardware

National Processing has a great reputation, with few complaints and quite a bit of praise from customers — something we rarely see with merchant account providers.

If you’re hoping for a software suite with POS analytics and lots of ancillary software options, you might want to consider Square instead. But if you just want something secure to accept debit, credit, and ACH, you’ll likely be more than happy with National Processing. It’s a great service for businesses that want low-fee credit card processing from a reliable company. For further details on what the company can do for your business, check out our full National Processing review.

Pros

  • Low interchange-plus pricing
  • Low-cost ACH payment processing
  • Good online reputation

Cons

  • Early termination fee charged in some circumstances
  • A long-term contract is required in exchange for the free terminal

Get Started with National Processing

Read our in-depth review

Jump back to comparison chart

6. CDGcommerce

CDGcommerce



Visit Site

Read our Review

With a free payment gateway and virtual terminal, CDGcommerce is a great option for eCommerce businesses. It sports month-to-month agreements with no early termination fees and affordable credit card processing rates for growing small businesses. It also offers a variety of hardware, including those that are contactless-payment-ready.

There are a lot of things that CDGcommerce doesn’t charge you for, making it a very affordable option for small businesses and startups. You’ll get the following with your account:

  • No account setup fees
  • No PCI compliance fees
  • No gateway fees
  • No monthly minimums

So what do you pay for? Besides processing charges, you’ll only have to pay a low monthly account fee (typically around $10). This fee gets you both a full-service merchant account and a payment gateway. You can select CDG’s proprietary Quantum gateway, Authorize.Net, or a number of other gateways. Either way, there’s no fee for using the gateway and no additional per-transaction processing fee.

Note that you’ll need to obtain a quote from the company for the specific rates and fees available to your business. With very low account fees and competitive processing rates tailored to your business, CDGcommerce offers a great combination of price and value. If you’ve been using Square or PayPal and want to upgrade to a full-service merchant account, CDGcommerce is a great choice.

To get the full scoop on what CDGcommerce can offer your business, see our complete review.

Pros

  • Month-to-month agreement with no early termination fees
  • Free payment gateway and virtual terminal
  • Excellent customer service

Cons

  • Only available for US-based merchants

Get Started with CDGcommerce

Read our in-depth review

Jump back to comparison chart

7. Payline Data

Payline



Visit Site

Read our Review

From mobile and online payments to in-store sales, Payline Data covers all the bases for small businesses. It provides low-cost merchant services suited to low-volume sellers. It also offers a full range of hardware, including those that can accept contactless payments.

Payline also distinguishes itself with its corporate philosophy of charitable giving and support for nonprofit organizations through discounted pricing.

Are you looking for the cheapest payment gateway for your eCommerce shop? Payline Data can set you up with Payline Gateway, a full-featured payment gateway. You’ll get recurring billing, electronic invoicing, and a customer vault with no separate gateway fees or transaction charges.

Read our Payline Data review for more information about pricing, features, and more.

Pros

  • Transparent interchange-plus pricing
  • No early termination fee
  • Free gateway and virtual terminal

Cons

  • Not available for international sellers
  • Hidden developer tools

Get Started with Payline

Read our in-depth review

Jump back to comparison chart

8. Chase Merchant Services

Chase Merchant Services



Visit Site

Read our Review

Chase Merchant Services is great for small businesses looking for low processing rates from an established name. Chase also supports payments in more than 120 currencies from around the world to facilitate international sales.

Chase Merchant Services is one of the largest processors in the United States and is a direct processor. You won’t have to deal with any middlemen when using your merchant account. Chase has received remarkably few complaints from merchants for such a large company and has consistently earned good reviews.

Regarding services and features, Chase offers its proprietary payment gateway, or you can integrate with other third-party gateways (such as Authorize.Net). It provides a virtual terminal, several options in credit card terminals, and a mobile processing reader. The card terminals and mobile readers are all contactless-ready. While Chase offers online reporting, ACH, and gift card programs as well, these may come at an additional charge.

We like that Chase offers month-to-month billing with no long-term contracts or early termination fees as a standard feature. However, you might have to agree to a three-year contract if you opt for a “free” credit card terminal with your account. Know this before taking that deal. For a closer look at Chase Merchant Services, check out our full review.

Pros

  • Large direct processor
  • Supports 120 currencies
  • Interchange-plus pricing available on request

Cons

  • Free credit card terminal requires a long-term contract
  • Limited pricing information disclosed

Get Started with Chase Merchant Services

Read our in-depth review

Jump back to comparison chart

9. PayPal

PayPal



Visit Site

Read our Review

Payment services giant PayPal gives businesses trusted name recognition and much more. With copy-and-paste payment buttons and discounts for nonprofits, PayPal provides flexibility and is easy to set up.

Like Square, PayPal is a third-party processor that makes taking credit cards more accessible for a wider variety of businesses. PayPal comes with its drawbacks, however. PayPal is not going to provide you with personalized, friendly service. If you’re content with a self-serve situation as far as feature customization goes (smart payment buttons, for example), then you should do well with PayPal.

PayPal has multiple pricing plans available, with discounts for nonprofits and special rates for merchants who primarily process micropayments, which we love to see. You’ll also find extensive integrations for your eCommerce shop and good developer tools (that you must know how to use).

Though PayPal is better known for its eCommerce payment offerings, you can use PayPal to take in-store payments as well. PayPal offers an NFC-capable reader that works with a smartphone or tablet. Customers can also pay by scanning your QR code using their mobile device’s camera.

What really stands out about PayPal is that you can take advantage of the name recognition at checkout — along with the extreme ease of placing a checkout button nearly anywhere you want to. Alternatively, you can go with a solution such as Shopify and easily add PayPal as a second payment option for your customers. Learn what to expect by reading our full PayPal review.

Pros

  • Easy to use
  • Advanced design tools
  • Trusted by customers

Cons

  • Add-ons often necessary
  • Inconsistent customer support

Read our in-depth review

Jump back to comparison chart

Get The Lowest Credit Card Processing Fees By Choosing The Right Type Of Payment Processor

Before embarking on your quest for the cheapest credit card processing, take time to understand the two types of processors. There is quite a difference between a payment service provider and a traditional merchant account, and we feature both types of companies in this article. Let’s explore the differences so that you can make the best call for your business.

Payment Service Providers (PSPs)

A payment service provider (PSP) is often called a third-party processor in our posts. What’s the difference between this and a traditional merchant account? For starters, rather than processing directly with the acquiring bank, the processor (e.g., Square, PayPal) lumps all their customers into one aggregate account.

As the PSP is taking the risk with its bank account, you won’t receive a unique merchant ID for your business. A third-party processor makes it much easier for businesses that do not qualify for a merchant account for various reasons, but there are some things you should remember.

Drawbacks With A Third-Party Processor

First, customer service can be inconsistent. You probably won’t get a lot of one-on-one support. However, the options on our list have extensive FAQs, knowledgebases, and community support that should provide you with most of the answers you need. Together with the fact that PSPs usually prioritize ease of use, if you’re fairly tech-savvy, you may not need the customer support department anyway.

Because a payment service provider is taking the financial risk for transactions, merchants are more at risk for sudden account freezes, holds, and even terminations. While most businesses won’t have to deal with this scenario, it’s still possible. Learn how to minimize your risk by checking out How To Keep Your Payment Processor From Holding Funds Or Terminating Your Account: What Small Businesses Need To Know.

Benefits Of A Payment Service Provider

Many small businesses and nonprofits trust PSPs, such as Square, PayPal, Shopify, and Stripe. These third-party processors are designed with the average end-user in mind. They make it simple for a busy small business owner to add all the services they need to their account without spending a lot of time or money.

These platforms typically have built-in features you probably won’t find with traditional merchant accounts, and you won’t pay extra for them. These features include:

  • eCommerce tools
  • Invoicing
  • Reporting
  • Free customization
  • Data security
  • Tools to market and sell on multiple sales channels

Traditional Merchant Accounts

Traditional merchant accounts are more likely to be the acquiring bank themselves. Cutting out the “middle man” gives you the potential for lower fees. That doesn’t necessarily mean they charge less, however. Tiered pricing is terrible to get stuck with as it is highly variable and usually much more expensive than it should be. Our post, Why Tiered Pricing For Credit Card Processing Is The Most Expensive Option (And How To Avoid Overpaying), explains this further. Instead, look for interchange-plus, flat-rate, or membership pricing from your would-be merchant account provider if possible.

Watch Out For These Things With A Traditional Merchant Account

While a traditional merchant account can offer you the lowest credit card processing fees, some providers add ancillary fees that add to their profit margins, such as security fees, virtual terminal fees, and more. Sometimes we see “junk fees” that add even more to their bottom line. While we specifically selected companies that keep processing costs low for our list, it is something to be aware of when you’re shopping around.

When you’re looking for affordable credit card processing, keep in mind all of the other add-on fees that may come along with that original “teaser rate.” If these extra fees and variable terms exist, you’ll find them laid out in your contract. That’s why we always strongly encourage you to sit and read through your contract, especially if a salesperson is pushing you to sign.

Having said all this, traditional merchant accounts offer particular benefits as well.

Benefits Of A Traditional Merchant Account

Traditional merchant accounts include several features you won’t find with most PSPs.

  • You’ll be assigned a unique merchant identification number (MID). The MID is used to identify you to processors, issuing banks, and credit card associations. While it might not sound like much, having a unique merchant ID number helps lower your fraud risk and improve stability.
  • You’ll have one-on-one customer service and dedicated support. If you’re not tech-inclined and your card payment system goes down while you have customers waiting to pay, personalized service from a quality merchant account provider can be a lifesaver.
  • As your business grows larger, your processing costs will go down. When it comes to many medium-sized and larger businesses, a full-service merchant account will be less expensive than a PSP, despite some additional monthly fees. That’s because the merchant account provider’s pricing model contains an automatic volume discount. Hit that volume, and you’ll get the discount.

Picking the right provider for your business has a lot to do with your business size, goals, and what may help your business run smoother in the way of features or add-on tools. There is never a one-size-fits-all solution. The lowest processing rate for one business may not be the best choice for another.

Why The Cheapest Merchant Services Aren't Always The Best

When it comes to figuring out the “cheapest” credit card processing, there are a few things to keep in mind:

  1. The company offering the lowest processing rates or fees may not be the cheapest. The total percentage of the credit card sales you’ll have to fork over to your merchant account provider can be hard to calculate in advance with any precision. Variable processing rates and hidden (or at least unanticipated) fees can easily result in you paying much more than you thought you were going to. Companies offering flat-rate pricing fare much better in this regard, as their simple pricing structure makes it relatively easy to estimate your monthly processing costs.
  2. The “cheapest” processor isn’t necessarily the best one for your business. Naturally, you want to be able to accept credit cards while paying the least amount of money for the privilege. However, companies offering the lowest rates often cut corners to make those low rates possible. Poor customer service, for example, is common among inexpensive processors. If you want the best overall options, look through our top picks for small business credit card processing.
  3. With the changes in consumer habits because of the pandemic, a processor’s overall offerings might become more important. Before the pandemic, if you had a brick-and-mortar-only business, you only needed to look at in-person payment rates to find the cheapest processor for you. However, the pandemic pushed many shoppers online, so you now have to look at online transaction rates as well. Some of the processors we profiled in this article can help you set up an online store quickly and for free, while others will require you to hire a developer. So don’t forget your eCommerce labor costs when figuring out which processor is the cheapest for your business.

Affordable Credit Card Processing: Making Sense Of Dollars & Cents

When looking for the cheapest credit card processing rates, you want to make effective comparisons. Here’s what you should find out when you examine your options.

  • What’s the processing rate? Is it a flat rate, interchange-plus, or tiered rate? (Read How Much Should You Pay For Credit Card Processing to understand the differences.)
  • Is there a monthly fee or other subscription fees?
  • Is data security included?
  • What are the features that are important to you, and what features are included in this option?
  • Is the contract month-to-month, yearly, three years, or longer?
  • Is there an early termination fee if you decide to close your account?
  • If you decide to change processors, how easily will you be able to port your data? Can you re-use your hardware?

If you currently have a payment processor and are not sure how much you’re paying, we show you how to figure it out in our post: Knowing Your Effective Rate For Credit Card Processing Is The Best Way To Not Overpay For Merchant Services.

Pricing for payment processing is a ridiculously complex subject. While you can estimate your costs based on your processing history and business type, don’t expect to be able to come up with a precise figure. Fortunately, the companies we’ve profiled here fully disclose their processing rates and fees, making the job of estimating your costs that much easier.

5 Tips To Help You Negotiate The Best Credit Card Processing Rates

Here are some suggestions for keeping your costs down when trying to get the best credit card processing rates.

  • Buy the hardware outright when possible. Equipment leases are almost always a bad idea. Purchasing your equipment outright saves you money in comparison.
  • Seek out the best pricing model for your business type. Knowing your processing volume and average ticket size might help you pick the pricing model best suited to you.
  • Avoid processors that charge lots of “junk” fees. Your processing rate may be low, but if the processor tacks on lots of junk fees, your total costs may still be unnecessarily high. Some providers even charge an annual fee along with a monthly fee!
  • Avoid monthly minimums if you’re a low-volume merchant. With monthly minimums, if you don’t process enough money in a given month to meet the minimum amount you have to pay your processor, you’ll be charged the difference between your monthly minimum and your actual processing fees for that month. Thankfully, most of our preferred providers don’t impose monthly minimums.
  • Shop around! Never go with the first company you find. Get multiple quotes from processors who provide what you need.

The Bottom Line On The Cheapest Credit Card Processing For Small Business

The credit card processors we’ve profiled here provide great service at an affordable cost. However, some are better suited to particular types of businesses than others. Keep in mind your goals, and don’t be afraid to crunch some numbers and compare your top options. It’s not always obvious which company has the cheapest credit card processing until you work it out with your projected volume and average ticket size.

For tips on how to get the best possible rates, check out our post, How To Negotiate The Perfect Credit Card Processing Deal. And for a side-by-side comparison of some of the companies listed here (and a few other excellent providers), please see our Merchant Account Comparison Chart.

If you have a question about any of the companies featured here, ask us in the comment section below!

In Summary: The 9 Cheapest Credit Card Processing Companies For Small Business

  1. Payment Depot:
    • Best for mid to large-sized businesses
    • Ideally priced for businesses that process larger tickets
  2. Stax by Fattmerchant:
    • Best for an all-in-one merchant account provider
    • Offers proprietary Omni POS software
  3. PaymentCloud:
    • High-risk processor
    • Reasonable rates and fees
  4. Square:
    • Predictable pricing for newer businesses
    • Robust software feature set
  5. National Processing:
    • Full-service merchant account
    • No-frills, low fee merchant, low fuss
  6. CDGcommerce:
    • Best for eCommerce businesses
    • Offers different pricing structures for businesses at all stages of growth
  7. Payline:
    • Available for mobile and online payments to in-store sales
    • Special non-profit pricing available
  8. Chase Merchant Services:
    • Direct processor with an established name
    • Willing to work with small businesses to offer lower processing rates
  9. PayPal:
    • Online payment services giant
    • International reach
    • Trusted name
Jason Vissers

Jason Vissers

Jason Vissers is a writer and cereal chef from San Diego. He graduated with a Political Science degree from San Diego State University in 2001. He's been writing about website builders, crowdfunding sites, online lenders, and credit cards for Merchant Maverick since 2015. Additionally, Jason can't eat raisins.

Sources

Leave a comment

14 Comments

Responses are not provided or commissioned by the vendor or bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the vendor or bank advertiser. It is not the vendor or bank advertiser's responsibility to ensure all posts and/or questions are answered.

    Bob Ross

    Hi Merchantmaverick:
    I appreciate what you are doing.
    We are owners of two separate small retail business’s in Calgary. They do 40k and 140k a month. We rent our devices.
    We have always been with First Data thru paystone and we do like the Clover machine. I am always looking at reducing expenses while maintaining good functioning machines. We call them every year or two to bring rates a bit lower and i feel our rate is not to bad now. I am not good at this but I am interested in your thoughts on the best and lowest price merchant providers for our two growing stores. Many thanks!

      This comment refers to an earlier version of this post and may be outdated.

      Jessica Dinsmore

      Hi Bob,

      Thank you! We have a post on Canadian processors that will have the answers you are looking for, and then some! I’d suggest reaching out to each of the recommended processors directly for quotes, and then you can decide who might be the best fit for your business. One thing is for sure- we never recommend leasing devices, but you can read more about that in the post as well. I hope that helps you with your search. Best wishes!

        This comment refers to an earlier version of this post and may be outdated.

        Cynthia moore

        Thank you! This subject can be mystifying indeed! Can you please comment on Heartland Payment Services? My ex business partner set us up there. I have trouble deciphering the details and tend to just leave things where they are. I’d value your analysis. Thank you!

          This comment refers to an earlier version of this post and may be outdated.

          Jessica Dinsmore

          Hi Cynthia,

          You can check out our in-depth review of Heartland Payment Systems!

            This comment refers to an earlier version of this post and may be outdated.

            Meg Glidden

            What about EVO?

              This comment refers to an earlier version of this post and may be outdated.

              Jessica Dinsmore

              Hi Meg,
              You can read our EVO Review and see what you think of their pricing plans. They seem to differ greatly depending on agents and individual business needs. I hope that helps!

                This comment refers to an earlier version of this post and may be outdated.

                Veri cardsys

                Wow! It is really good info! Thanks for sharing this post 🙂

                  This comment refers to an earlier version of this post and may be outdated.

                  John Y

                  Costco Business Services offer 1.9% online rate plus $0.25/transaction.

                    This comment refers to an earlier version of this post and may be outdated.

                    MelsAntiqueJewelry.com

                    That is not exactly correct. I have my merchant account through Costco and there pricing structure is the interchange-plus pricing. They tell you the rate is 1.99%, but it varies from 1.99 – 3.5% based on the credit card you are processing. Very rarely do you get one that is 1.99%. I am changing companies now because Costco is too expense and they have caused me to lose customers by ‘accidentally’ processing a charge twice, which takes months to get corrected and you can only do it through the mail!!!

                      This comment refers to an earlier version of this post and may be outdated.

                      Jennifer Martin

                      Thanks for the overview. Looks like you are way off though on the square rates.

                        This comment refers to an earlier version of this post and may be outdated.

                        Frank Kehl

                        Fixed. Thanks!

                          This comment refers to an earlier version of this post and may be outdated.

                          joseph longo

                          interested in an account

                            This comment refers to an earlier version of this post and may be outdated.

                            Jessica Dinsmore

                            Hi Joseph,

                            Our filtering tool can help you find the provider best suited for your business. Give it a try here.

                              This comment refers to an earlier version of this post and may be outdated.

                              Wayne Gungl

                              Great information – especially for those of us with a very small business. One other thing that might have been considered is that with PayPal, customers leave the site they are visiting and are transported to the PayPal site. With Stripe, and others, they can be set up so that the customer does not have the impression that they are leaving the merchant site. I am currently using PayPal, but would like to have customers stay on my site. To make that work, your merchant site must have a secure socket. All that being said, I appreciate the education!

                                This comment refers to an earlier version of this post and may be outdated.

                              Leave a Reply

                              Your email address will not be published. Required fields are marked *

                              Your Review

                              Comment moderation is enabled. Your comment may take some time to appear.
                              Please read the "User Review and Comment Policy" before posting.

                              Share

                              We Recommend Stax by Fattmerchant 🏆

                              We love Fattmerchant as a credit card processor for its predictable pricing, excellent service, and integrated billing features. Get started today and get your first month for $5 with an exclusive Merchant Maverick promo.

                              Get Started

                              Get started with no commitment today.

                              Our unbiased reviews and content are supported in part by affiliate partnerships, and we adhere to strict guidelines to preserve editorial integrity. The editorial content on this page is not provided by any of the companies mentioned and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are author’s alone.

                              Sign up for the Maverick Newsletter

                              • Please select topics of interest

                              • We occasionally send out emails with special offers.
                              • This field is for validation purposes and should be left unchanged.