The top 7 credit card processing companies.

As a small business owner, you understand that using credit cards can bring both benefits and drawbacks. While it can increase your customer base and profits, it can also result in high swipe fees or halt sales if your processing system fails. Therefore, selecting the right credit card processor is crucial for your business.

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Best for e-commerce

If you're starting an online business, you're probably already familiar with Shopify. The platform offers tools to help you launch and manage your online storefront, and it integrates with various apps to help you manage inventory, add email pop-ups, and more, including processing credit card payments.

With Shopify Payments enabled, you can easily accept customer payments without the need for any third-party integrations.

Best for custom rates

We discovered that Helcim's free online tool can help you estimate your rate. After experimenting with the tool, we found that your monthly sales volume may affect your rate.

Best for different currencies

This is for businesses seeking payment and business management solutions. Stripe offers a comprehensive array of payment and business management solutions. Businesses can accept payments in over 135 currencies, making it simple for businesses looking to reach a global audience.

Stripe provides a platform for developers to personalize their business's checkout process.

Best for Chase Bank customers

If you are currently working with the megabank or looking to start, Chase Payment Solutions offers the convenience and comfort of a familiar name. This processor allows you to accept customer payments for both online and in-person transactions, and you can take advantage of same-day deposits as long as payments are processed through a qualifying Chase product (i.e., Chase Payment Solutions℠ or Chase Integrated Payments product) and the deposits are going into a Chase business checking account.

Standout features: Chase Payment Solutions also offers customizable pricing.

Best for no payment processing markups

Qualifying small businesses with annual revenues over $250,000 may be eligible for a tailored pricing plan.

Best for buy now, pay later options

Best for larger companies

What is Finix's custom pricing policy for businesses that process $1,000,000 or more annually? To determine the best custom price for your business, please contact Finix.

Finix simplifies the checkout page customization process for business owners without coding skills.

More on our picks for best credit card processing companies

Shopify

In 2006, Shopify was established as a comprehensive commerce platform that caters to a vast number of businesses. Their payments system adheres to PCI compliance standards, ensuring the protection of consumer credit card information through a rigorous set of guidelines.

Monthly fee

Basic plan: $29/month

Shopify plan (for small teams): $79/month

Advanced plan: $299/month

Plus plan: $2,300/month

Payment processing fees

2.9% + $0.30 for online

2.6% + $0.10 for in-person

2% for 3rd party payment providers

Helcim

Helcim does not charge monthly fees, cancellation fees, PCI fees, deposit fees, user fees, or setup fees, as stated on their website.

Monthly fee

$0

Payment processing fees

Average of 1.93% + $0.08 for in-person

Average of 2.49% + $0.25 for online

Stripe

Stripe, founded in 2010, offers payment services to businesses of all sizes, along with additional features such as billing, taxes, automatic revenue reporting, and fraud and risk management.

Monthly fee

$0

Payment processing fees

Custom pricing is also available in addition to the standard pricing of 2.9% + $0.30.

Chase for Business

Chase is a well-known brand in the banking and financial services industry, making it a reliable choice for those who value brand recognition. Additionally, Chase Payment Solutions integrates with other software solutions to help manage your business.

Monthly fee

$9.95/month

Payment processing fees

2.6% + $0.10 per in-person transaction

2.9% + $0.25 per online transaction

3.5% + $0.10 per keyed-in transaction

Custom pricing available

Stax

Stax is a payments platform that caters to small- and medium-sized businesses and SaaS platforms. Since its launch in 2014, Stax has processed over 23 billion payments.

Monthly fee

$99/month

Payment processing fees

The amount charged for a transaction can vary from $0.08 to $0.15, depending on factors such as volume, card type, and whether the transaction is made in person or online.

Square

Square, launched in 2009, provides various tools for business management support. The platform offers Afterpay as an optional service, which small business owners can easily turn off through their Square dashboard. Additionally, custom processing fee rates are available for businesses processing more than $250,000 per year.

Monthly fee

Free version: $0/month + processing fees

Plus: $29/month + processing fees

Premium: Custom + processing fees

Payment processing fees

2.9% + $0.30 for online

2.6% + $0.10 for in-person

3.5% + $0.15 for keyed-in transactions

Finix

Finix allows small businesses to receive payments through various methods, including ACH, EFT, and alternative options like ApplePay.

Monthly fee

$250/month

Payment processing fees

0% + $0.08 for in-person0% + $0.15 for online

What is credit card processing and how does it work?

The process of authorizing and accepting a credit card payment involves several steps, which may not be immediately apparent to customers when they make a purchase.

The verification of the credit card's validity and sufficiency of funds for the purchase is a near-instantaneous process that precedes the first step.

Authentication is the process by which the payment processor verifies that the person making the payment with the card is its authorized user. Cardholders can authenticate their payment using various methods, such as entering a one-time passcode, biometric authentication (like a fingerprint to unlock payment), and even entering the zip code associated with the credit card.

The final step in the payment process is the transfer of funds to the merchant's account, which may take 1-3 business days to complete. As a result, you may not immediately see a charge on your bank account after making a purchase.

Businesses, regardless of size, can avoid the hassle of credit card payment processing by using companies that handle all the necessary steps.

What should you look at when choosing a credit card processing company?

When selecting a credit card payment processing company, it is important to consider certain features.

• Companies typically charge a monthly fee for access to their services and tools. While a lower fee can save your business money, it's important to consider whether a higher fee is worth it for the added business management tools you need.

Frequently Asked Questions (FAQs)

Why trust CNBC Select?

Our mission at CNBC Select is to deliver top-notch service journalism and in-depth consumer advice to our readers, enabling them to make well-informed decisions when it comes to their money. Each article is meticulously crafted by our team of expert writers and editors, who possess extensive knowledge of small business products. While CNBC Select earns a commission from affiliate partners on many offers and links, our content is created independently by our team, without any input from our commercial team or external third parties. We uphold the highest journalistic standards and ethics. For more information on how we select the best credit card processing companies, please refer to our methodology.

Our methodology

Each credit card processing company was evaluated based on various features.

• Pricing models, including subscription-based pricing, markups and transaction fees
• Online vs. in-person usability
• Access to payment terminals
• Customer support
• Business integrations and tools
• Customer reviews, when available

Some credit card processing platforms provide custom pricing based on sales volume, credit card types, and transaction methods.

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