Best Merchant Services Company For Small Business – Top 10 Payment Processing Companies in the World With hundreds of services to choose from, how do you choose the right payment processing company for your business and customer service? Columnist Steve Olensky reveals his top picks to help you find the perfect fit.
Simply put, a payment processor is a company that processes transactions between two parties, such as a merchant and a customer. It makes the payment by sending payment information, such as a credit card, from the customer to the seller’s preferred bank account.
Best Merchant Services Company For Small Business
As a retail marketer, you know that choosing a payment processing system isn’t just a decision for the finance department. That’s because it’s an important (some might say the most important) part of the user experience, and if it’s done wrong, it can negatively impact conversions.
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In addition to the overall experience, you’ll also want to consider what payment methods the processor accepts, what fees are charged, and platforms where transactions can be made, such as online or on a mobile app.
However, with hundreds of payment processing options out there, here are the top 10 options to consider.
For merchants looking for a payment processor with small payment volumes, PayPal has proven to be a strong choice since its debut in 1998. In addition to budget pricing, PayPal operates in more than 200 countries and 26 currencies and allows users to integrate PayPal Checkout into their websites, process payments through a browser, app or reader, and provide credit to customers.
Due offers a comprehensive service covering the entire invoicing and payment process for freelancers, small business owners and enterprises. In addition to time tracking, project management, and customized online invoicing options, the company understands that your business can go global.
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Invoicing and payment processing features include over 100 languages, currencies and tax systems, as well as international credit card processing.
There is no such thing as a “one size fits all” payment processor for online stores. However, Stripegets comes very close as a customizable payment solution.
Stripe is designed for developers, who can then work with the company’s API to create a product that best suits their needs. Stripe allows you to accept credit card, debit card and bitcoin payments in over 130 different currencies. There’s also flexible billing and a modest 2.9 percent + 30¢ per successful card payment.
If your site has a high volume of credit card transactions, leading merchant services may be your best bet. As a comprehensive loan provider, the company offers low, flexible rates to businesses on a monthly basis, as opposed to long-term contracts.
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Processing options include in-person processing, online credit card processing, and mobile processing. The flagship is also known for its excellent customer service and easy application process.
Payline Data is one of the most proven payment processors available today. In addition to giving merchants the ability to accept payments in-store, online and via a mobile app, Payline Data provides merchants with cash advances, customer information, QuickBooks integration and an exchange and no-cancellation fee pricing structure.
Square empowers you to accept payments anywhere with innovative products like the magnetic stripe reader, contactless reader + chip, and cradle that turn your mobile device into a one-of-a-kind payment processor.
Square is also customizable, meaning it has solutions for a wide range of businesses, including everything from restaurants to beauty professionals, transportation companies and professional services.
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Adyen is an international omnichannel payment company founded in 2006 in Amsterdam. The company allows users to receive and transfer money electronically in real time online, via mobile phone or in person.
Connected to around 250 payment methods in North America, Latin America, Europe and Asia, this platform is one of the leading processors for anyone involved in global commerce.
Founded in 2011, BitPay is one of the largest Bitcoin payment providers in the world. In fact, the company is responsible for more than $1 million worth of transactions every day.
BitPay allows users to instantly convert Bitcoin payments into nine currencies in 38 countries to avoid volatility. The company also works with PayPal and merchants such as Global Payments and Alternet Systems.
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Headquartered in the UK, GoCardless is an online direct debit provider. With GoCardless, users can not only accept payments with simple setup, but also automate payments, track payment status, and integrate the service into their website using a REST API.
Originally known as Merchant Warehouse, Cayan rebranded in 2015 to focus on features such as online payments and point-of-sale purchases, as well as allowing developers to access NFC (near field communication) and EMV (chip technology) through a flexible API ( Application Programming Interface ) system.
The Boston-based payment processor offers both tiered and currency-plus pricing at a competitive rate, with a low monthly fee of $4.95.
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The views expressed in this article are those of the guest author and not necessarily theirs. Staff authors are listed here.
In this quick and easy Malaysian payment gateway comparison, we summarize the pros and cons of popular payment gateway providers including SenangPay, iPay88 and PayPal. Plus, an honest review of HitPay compared to Stripe and other major payment providers. Keep reading!
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As one of the most popular payment gateways worldwide, Stripe Payments is ideal if you serve international customers.
Based in Singapore, HitPay is the only payment platform in Southeast Asia and key markets worldwide. HitPay is designed specifically for small businesses, with no setup or annual fees and a full suite of free business software. You can use HitPay to sell on any sales channel, including Shopify, WooCommerce, and Instagram.
✅ Wide range of e-commerce integrations – Shopify, WooCommerce, OpenCart, Ecwid, Prestashop, Wix, EasyStore, Shopcada, Magento and Google Forms
Business software includes recurring invoices, online store with inventory and order management, invoicing software, POS system and payment links
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Choosing a payment gateway in Malaysia is not an easy decision. However, if you run a small business, HitPay’s low-cost all-in-one platform may be right for you.
HitPay is an all-in-one commerce platform that aims to empower small and medium-sized businesses without the need for full-fledged codeless payment gateways. Thousands of merchants have grown with HitPay products, helping them easily receive face-to-face and online contactless payments. Join our growing trading community today!
Turn your receipts into powerful marketing tools with HitPay Receipt Maker for Business. Looking for an easy-to-use point-of-sale (POS) system with the ability to print paper receipts? Read on to learn how to turn paper receipts into opportunities to further promote your brand and make a great impression on your customers. What are receipts used for? When your customers pay
Add additional fees, taxes and tips at the HitPay POS checkout. Setting up a cash register at HitPay POS is easy. Add tipping options, set additional fees or add taxes to the customer’s checkout with just a few clicks. All options are integrated into your HitPay checkout, providing seamless checkout for customers. Read on to learn more! Take advice
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New ways to save time in HitPay online store Create discounts, update store design and manage inventory with just a few clicks! Editors independently select and review products. If you shop through affiliate links, we may receive a commission to help support our testing.
How your small business handles payments was a key decision: cash, checks, credit cards, merchant account, and you’re done. But while the digital age has given customers much more flexibility in how they can pay, it has made the process much more difficult for merchants, especially smaller stores or online retailers.
Most merchants are already aware of traditional credit card processing services, which now also provide a long list of online payment and e-commerce solutions. But in recent years, the list has grown even longer as the number of mobile payment methods that can use local processing devices, smart cards and contactless terminals is growing rapidly.
All of these options are great for consumers, but this evolution of payments also means that small businesses now have to go through a long process of gathering requirements and costs and benefits for each new payment method they use. These requirements vary by both the payment method and your specific business situation, so it can be a daunting task. In the past, the process of setting up payment solutions was much simpler. You had to have a landline, rent a credit card machine, and then factor processing fees and other fees into the cost of doing business. At the same time mobile payment
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