Top 10 Best Merchant Services Providers in US
Finding the right merchant services provider is key for small businesses. They need to manage their payments well and save money. I looked at seventeen top providers to find the best ones in the US. I checked their prices, features, support, and what customers and experts say.
The top five providers are known for clear fees, great reporting tools, easy software integration, quick money deposits, and being PCI compliant. They also have lots of positive feedback from customers. These providers offer many payment solutions for small businesses. They help both online and offline stores.
Key Takeaways
- The top 10 merchant services providers in the US include Square, Helcim, Payment Depot, Chase Merchant Services, Stax, QuickBooks, US Bank Merchant Services, PayPal, Stripe, and PaymentCloud.
- Factors like pricing transparency, essential and advanced features, customer support, and positive reviews were crucial in determining the best providers.
- The selected providers offer a range of payment processing solutions, including traditional POS systems, e-commerce gateways, and specialized services for high-volume or high-risk merchants.
- Pricing models vary, with options like flat-rate, interchange-plus, and membership-based plans to cater to the diverse needs of small businesses.
- Integrated business solutions, such as Chase Payment Solutions and QuickBooks Payments, provide convenience for businesses already using related services.
Criteria for Selecting the Best Merchant Services Providers
Choosing the right merchant services provider is key. First, look at pricing transparency. Top providers offer various pricing like interchange-plus, flat-rate, and subscription. These fees range from 2.6% to 4.3% for payments in person and online.
It’s also vital to check the essential features. You want dashboards, invoicing, data export, contactless payment support, and easy software integration. Advanced features like fast deposits, PCI compliance, and great customer support set the best providers apart.
| Merchant Services Selection Criteria | Top Considerations |
|---|---|
| Pricing and Fee Transparency | Interchange-plus, flat-rate, or subscription pricing modelsIn-person transaction fees: 2.6% to 2.9% plus 10-30 centsOnline transaction fees: 2.8% to 4.3% plus 15-30 centsHigh-risk business fees: 2.3% to 4.3% |
| Essential Features | Reporting dashboardsInvoicing capabilitiesData export optionsContactless payment supportSoftware integrations |
| Advanced Features | Fast depositsPCI complianceRobust customer support |
| Customer Support and Reviews | Ratings and feedback from sites like Better Business Bureau, Trustpilot, and CapterraExceptional dispute resolution and chargeback managementHigh approval rates for high-risk businesses |
Look at pricing transparency, essential and advanced features, and customer support and reviews carefully. This helps businesses pick the best merchant services for their needs.
Overview of Merchant Services
Merchant services offer tools for businesses to take payments in-store and online. At the core, payment processing services make sure transactions are safe. They also provide POS systems and e-commerce payment gateways for online sales.
Payment Processing Solutions
Payment processing companies are key in merchant services. They manage transactions between customers, merchants, and banks. They offer services like merchant accounts and credit card processing. Top names in the US include Stax, National Processing, Helcim, Square, and others.
Point-of-Sale (POS) Systems and Hardware
Providers of merchant services also offer POS systems and hardware for in-person payments. These can be countertop terminals, mobile readers, or software to handle sales and inventory. Chase Payment Solutions and QuickBooks Payments are leaders in this field.
E-commerce and Online Payment Gateways
For online sales, merchant services include e-commerce platforms and payment gateways. These allow customers to pay with various methods like credit cards and digital wallets. Top names in the US are Stax, Stripe, and PayPal.
| Merchant Services Provider | Pricing and Fees | Key Features |
|---|---|---|
| Stax | Flat monthly fee: $99 to $199 Transaction fees: $0.08 to $0.15 per transaction | – Subscription-based pricing – 0% markup on interchange fees – 95% customer satisfaction score |
| National Processing | Monthly fee: $9.95 and up Transaction rate: 2.41% to 3.5% | – Free POS terminal with certain plans – Suitable for small to medium businesses |
| Helcim | $0 monthly fee Interchange + 0.40% and $0.08 per transaction | – Interchange-plus pricing – Suitable for B2B/B2G businesses |
Top 10 Best Merchant Services Providers & Credit Card Processing Companies in US
In the US, businesses have many options for merchant services and credit card processing. We looked at pricing, features, customer support, and reviews to find the top 10. These are the best in the US.
- Square POS – Offers a user-friendly point-of-sale system and mobile payment processing solution, with a flat-rate pricing structure starting at 2.6% + $0.10 per transaction.
- Stripe Payments – Provides a robust online payment gateway with a pay-as-you-go model, charging 2.9% + $0.30 per transaction for standard services.
- Helcim – Known for its transparent interchange-plus pricing model, Helcim offers competitive rates and a comprehensive suite of merchant services.
- Payment Depot – A membership-based provider that offers wholesale-plus pricing, ideal for businesses with high monthly sales volumes.
- National Processing – Specializes in serving high-volume merchants, offering customized solutions and industry-leading rates.
| Provider | Pricing Model | Key Features | Customer Satisfaction |
|---|---|---|---|
| Chase Payment Solutions | Customized Pricing | Integrated banking and merchant services | 4.7/5 Trust Pilot |
| U.S. Bank Merchant Services | Tiered Pricing | Scalable solutions for businesses of all sizes | 4.5/5 Google Reviews |
| PaymentCloud | Interchange-Plus Pricing | Specializes in high-risk merchant accounts | 4.9/5 Trust Pilot |
| Dharma Merchant Services | Interchange-Plus Pricing | Tailored solutions for nonprofits and social enterprises | 4.8/5 Trust Pilot |
| QuickBooks Payments | Flat-Rate Pricing | Seamless integration with QuickBooks accounting software | 4.6/5 Capterra |
These top 10 best merchant services providers and top credit card processing companies in the US offer a wide range of pricing models and features. They cater to the unique needs of businesses in various industries and sizes.
Flat-Rate Pricing Options
Flat-rate pricing is now a top choice for small businesses and startups. Square POS and Stripe Payments lead in this area. They offer clear pricing without the need for long contracts or hidden fees.
Square POS
Square starts at $0 per month, perfect for new businesses. They charge a simple 2.6% + $0.10 per transaction, no matter the card type. With no monthly fees or PCI compliance costs, Square is a top pick for many.
Stripe Payments
Stripe Payments also offers a clear 2.9% + $0.30 per transaction. They don’t have a POS system like Square POS, but their online payment gateway is great for e-commerce. Stripe supports over 135 currencies, ideal for businesses with global customers.
| Provider | Monthly Fee | Transaction Fee | Key Features |
|---|---|---|---|
| Square POS | $0 | 2.6% + $0.10 | No contracts, PCI compliance fees, or monthly minimums |
| Stripe Payments | $0 | 2.9% + $0.30 | Supports over 135 currencies, ideal for e-commerce |
Square POS and Stripe Payments provide a simple, flat-rate merchant services solution. This is great for small businesses and startups wanting predictable payment costs.
Interchange-Plus Pricing Models
The pricing model for merchant services can greatly affect a business’s long-term costs. Helcim and Payment Depot offer two popular options with transparent and flexible pricing. These models are based on interchange-plus.
Helcim
Helcim’s pricing lets businesses save money when customers use cards with lower interchange rates. They also offer discounts for merchants who process a lot of transactions. Plus, there’s a free virtual terminal for added convenience.
Helcim has no long-term contracts and clear pricing. This lets businesses manage their payment processing costs better.
Payment Depot
Payment Depot also uses an interchange-plus model. This means merchants save on processing costs for cards with lower interchange rates. They don’t charge monthly fees and work with many popular POS systems.
This gives businesses flexibility and ways to save money. Their clear pricing and no long-term contracts make their services more appealing.
| Feature | Helcim | Payment Depot |
|---|---|---|
| Pricing Model | Interchange-plus | Interchange-plus |
| Monthly Fees | No monthly fees | No monthly fees |
| Long-term Contracts | No long-term contracts | No long-term contracts |
| Savings for Low-interchange Cards | Yes | Yes |
| Volume Discounts | Yes | No |
| Virtual Terminal | Free | Compatible with popular POS |
Helcim and Payment Depot both offer clear interchange-plus pricing. This helps businesses manage their payment processing costs. They provide flexible, contract-free services.
Specialized Solutions for Businesses
Every business is different, with its own set of needs. The best merchant service providers know this. They offer special solutions for high-volume merchants, high-risk businesses, and nonprofits.
National Processing for High-Volume Merchants
National Processing helps businesses that process over $10,000 a month. They promise to give you better rates and a smooth payment process. With top technology and a dedicated team, they make sure your transactions are handled well and cost-effective.
PaymentCloud for High-Risk Businesses
Some businesses don’t fit the usual merchant service mold. This includes those in the CBD or online gaming sectors, which often struggle to find reliable payment processing. PaymentCloud is here to help. They specialize in high-risk merchant accounts, offering the support and solutions these businesses need to run smoothly.
Dharma Merchant Services for Nonprofits
Nonprofits have special financial needs, often working with small budgets. Dharma Merchant Services gets this and offers specialized merchant services just for nonprofits. They provide low processing rates, clear pricing, and a focus on social responsibility. This lets nonprofits focus on their mission without worrying about their finances.
These providers show how important it is to have solutions made for different business types. Whether you’re a big merchant, a high-risk business, or a nonprofit, there are services out there to make your payment processing easier and more efficient.
Integrated Business Solutions
Businesses looking for a smooth payment processing experience have two top options: Chase Payment Solutions and QuickBooks Payments.
Chase Payment Solutions with Built-In Banking
Chase Payment Solutions is a standout for businesses. It acts as both the payment processor and the bank. This setup means businesses with a Chase checking account get fast payouts the next day. It helps manage cash flow better.
With integrated merchant services, Chase offers tools for taking payments, managing money, and analyzing business performance. Everything is on one platform.
QuickBooks Payments for QuickBooks Users
For businesses using QuickBooks Payments accounting software, choosing QuickBooks Payments for payment processing is a smart move. It makes tracking invoices, expenses, and income easy. It’s great for QuickBooks users who want to accept payments online, in person, or through invoices.
| Feature | Chase Payment Solutions | QuickBooks Payments |
|---|---|---|
| Acquiring Bank | Yes | No |
| Next-Business-Day Payouts | For Chase Business Checking Accounts | No |
| Integrated Accounting | Yes | Yes |
| Pricing | Customized based on business needs | Flat-rate: 2.9% + $0.30 per transaction |
Businesses can choose between Chase Payment Solutions for banking integration or QuickBooks Payments for accounting ease. Both offer great solutions for managing payments and finances.
Conclusion
The best merchant services and credit card processors in the US offer many pricing models and features. They have solutions for different business needs. From simple flat-rate options like Square and Stripe to more complex interchange-plus models from Helcim and Payment Depot, they provide flexible ways to process payments.
They also have special services for businesses that handle a lot of transactions, face high risks, or are nonprofits. This means merchants can easily find a service that suits their needs and helps them manage their money well.
If you run a small business or a big one, these top providers have the skills and tools to help you grow and succeed. It’s important to think about what you need, look at how clear the pricing is, and check out the customer support and reviews. This way, you can pick the best solution for your business and make your customers happier.
As payment processing changes, it’s key to keep up with the latest trends and leading providers. Working with the best merchant services in the US can help your business a lot. It can lead to more sales, better cash flow, and more efficiency in how you operate.
FAQ
What factors did you consider when selecting the top merchant services providers and credit card processing companies in the US?
I looked at seventeen providers. I checked their pricing and fee clarity, key features, customer support, reviews, and awards. The top five services made the list.
What were the key factors you looked at when evaluating the merchant services providers?
The main things I looked at were clear fees, reporting tools, software integrations, quick deposits, PCI compliance, and good customer feedback.
What types of merchant services do businesses typically use?
Businesses use merchant services to take payments in-store, online, or both. This includes credit card processing, merchant accounts, and POS systems. Payment processing companies help with transactions and may offer POS hardware. Banks and POS providers also offer these services.
What are the top 10 best merchant services providers and credit card processing companies in the US?
After my research, the top 10 best merchant services providers and credit card processing companies in the US are: Square POS, Stripe Payments, Helcim, Payment Depot, National Processing, Chase Payment Solutions, U.S. Bank Merchant Services, PaymentCloud, Dharma Merchant Services, and QuickBooks Payments.
What are some of the key features and benefits of the top flat-rate pricing options like Square POS and Stripe Payments?
Square POS and Stripe Payments are leaders with flat-rate pricing. Square has no monthly fees and low transaction rates, great for small businesses. Stripe also has no monthly fees and supports over 135 currencies, ideal for online sales. Both offer basic payment processing without long-term contracts.
How do the top interchange-plus pricing models from Helcim and Payment Depot differ from flat-rate options?
Helcim and Payment Depot use interchange-plus pricing, saving businesses on low interchange rate cards. Helcim offers discounts for high-volume merchants and a free virtual terminal. Payment Depot has no monthly fees and works with popular POS hardware. Both offer clear pricing and no long-term contracts.
What specialized solutions do some of the other top merchant services providers offer?
National Processing offers custom solutions for high-volume merchants. PaymentCloud specializes in merchant accounts for high-risk industries. Dharma Merchant Services gives low processing rates and clear pricing for nonprofits. These providers meet the specific needs of different businesses.
How do the integrated business solutions from Chase Payment Solutions and QuickBooks Payments differ from other options?
Chase Payment Solutions works as both the payment processor and bank, offering next-business-day payouts for Chase business checking accounts. QuickBooks Payments integrates with QuickBooks accounting software. It’s a great choice for QuickBooks users to accept payments online, in-person, or through invoices.
