How to Choose the Best Credit Card Processing Companies
Table of contents
Choosing the best processing company for your business will depend on what your needs are. While some businesses need a comprehensive POS system as well as a payment gateway, smaller companies may only need a simple credit card terminal. In order to choose the best option for your company’s needs, think about these questions:
- How does my business accept payments?
- What kind of payments do we take?
- Do we need an online component?
- What kind of technology do we need?
- What pricing plan will work well for our company’s needs and budget?
Use this checklist when you’re making a decision about which provider will be the best fit for your company. You can also use these guidelines to compare different companies based on your own research.
Credit Card Processing Companies
Intuit QuickBooks Merchant Services
If you’re familiar with Quickbooks, you may also enjoy using Intuit as your merchant service provider. This is a good option for businesses that are looking for payment services as well as accounting software. For an additional monthly fee, you can use Intuit Quickbooks payment processing. It is linked to your Quickbooks account, which will keep track of your business’ financials.
Xero Merchant Services
A better fit for larger businesses, Xero is similar to Quickbooks due to having its own accounting software. However, Xero works in partnership with Stripe to deliver payment processing options. It does have a higher price tag than some of the other choices on our list.
Stripe Merchant Services
Known as a quality service provider for ecommerce, Stripe may be the best choice for online businesses. It is a flexible software that can be integrated into many different kinds of businesses and technology. Stripe accepts a wide variety of credit cards and mobile pay options. They offer card readers in a wide price range, suitable for any business with a set budget.
Paypal Merchant Services
Great for businesses with smaller monthly sales, Paypal could be a great option for a small business. Paypal is a hassle-free service that doesn’t have any monthly fees. It also doesn’t require you to sign a contract with them. Paypal is a well-known company in the industry and accepts most credit cards. The processing time is also very fast. The only downside is the extra fees that Paypal charges larger accounts. However, if you have a small amount of monthly transactions, this should not affect you.
Square Merchant Services
Square is a great option for businesses that can operate mainly using a smart device, such as a tablet or smartphone. It’s a great tool for small businesses due to its affordability. With Square’s free hardware (you can opt for other hardware at an additional cost), you can turn a tablet into a comprehensive POS system that will organize your payment information all in one place. It is fully customizable to your business’ needs.
