Best Online Credit Card Processing
If you are a starting business owner and you’re looking to open your first eCommerce business, you might be wondering if you can just use PayPal, which probably has enough eCommerce offerings.
Just about every business needs to be able to accept credit cards and debit cards, but choosing a credit card processing company for your small business can be difficult because there are hundreds to choose from and they all offer a similar service.
Businesses usually have unique needs that not all processors are optimized for. Rates, quality of service, reliability, and other typical online features should all be considered when you pick your eCommerce processor.
Good online credit card processing can be hard to come by and getting information on pricing is sometimes difficult. But, fortunately, these days, there are more options than ever for finding an online payment processor. Your choices range from traditional merchant accounts to third-party, pay-as-you-go processors.
In this article, we will be discussing everything that you need to know regarding online credit card processing. From pros and cons, to discussing the best in the industry, we got you covered.
Online credit card processing for small businesses
Figuring out the best ways to accept credit cards online and choosing the right payment processor can be overwhelming at the beginning. It is the lifeblood of your eCommerce operation and a necessary cost to consider when selling online. If you cannot properly take payments online, you have resorted to limiting your business’ revenue.
Beyond fees, fraud and conversion, your brand’s ability to expand internationally can be affected by your credit card processing choice. Do international buyers trust your chosen solution? Does that solution work cross-border?
Take the time to do some comparison shopping before choosing a solution to accept debit and credit card payments. You might be surprised that out of all the merchant account processors offering you a business, only one will be beneficial for you.
To start, there are three types of payment processors that you have to keep in mind. These are:
- Merchant Account + Payment Gateway
- All-In-One Solutions
- Simplified Credit Card Processors
We would like to emphasize this because there are different rates and fees associated with different types of cards and that is what you should look for first when choosing the right merchant processing company. Just make sure you know what type of processor you’ll need, as well as what exactly you’ll be paying for each transaction.
Best online credit card processing company
- Allied Payments
Allied Payments uses a wholesale style pricing structure, offering more predictable fees than competitors. Ideal for businesses of all sizes, including business requiring a high risk credit card processing solution.
| PROS | CONS |
| Easy-to-understand pricing plans. Also offers high-risk merchant services. | Rarely offers tiered pricing. Never offers single fee or membership style services. |
- Sam’s Club Merchant Services
Sam's Club Merchant Services is upfront about its pricing online, but it's disappointing that it uses proprietary equipment and locks you into a multi-year contract.
| PROS | CONS |
| Transaction pricing listed on the website | Equipment pricing not advertised. Pricing for AMEX transactions not advertised. |
- Helcim
Helcim discloses all of its credit card processing service fees on its website and aims to educate merchants through online how-to guides and a trained sales team.
| PROS | CONS |
| Pricing and fees outlined on the website. No outbound sales team. | Not ideal for micro vendors. |
- National Bankcard
National Bankcard has well-regarded customer service and offers widely compatible equipment, but its pricing may be hard to predict.
| PROS | CONS |
| Offers interchange-plus pricing as an option. | No pricing listed on its website. |
- Intuit QuickBooks Payments
Intuit QuickBooks Payments is part of an ecosystem of financial software that helps you run your business smoothly, with predictable fees.
| PROS | CONS |
| Mobile, desktop, and point-of-sale (POS) options. Easily connect to accounting and other financial software. Flexible pricing. | Can connect other processors to QuickBooks Online. |
- Flagship Merchant Services
Flagship Merchant Services offers a full range of credit card processing solutions, but its pricing for both services and equipment isn't clear.
| PROS | CONS |
| No cancellation fees. Interchange-plus pricing is an option for merchants. | Tiered pricing is often unpredictable. Equipment pricing not listed. |
- Payline Data
Payline Data offers payment plans for businesses large and small, around-the-clock customer support, and is well-regarded by industry experts.
| PROS | CONS |
| Transparent, interchange-plus pricing. Good choice for high-risk merchants. | Equipment pricing not listed on the website. |
- CreditCardProcessing
CreditCardProcessing offers a full range of equipment and payment plans, but it isn't as transparent about pricing as some competitors.
| PROS | CONS |
| Offers interchange-plus pricing. No cancellation fees. | Free equipment offers could be deceptive. Monthly minimums apply. |
- Cayan
Cayan provides a wide variety of hardware and software and an open API. It's a great choice if you can negotiate a fair price.
| PROS | CONS |
| Custom pricing. 24/7 support. Responsive customer service. | Termination fee after 60 days. |
- Square
Square is a transparent merchant services provider that offers flat fees and low-cost, iPad-compatible equipment. However, it may not be the best choice for high-volume.
| PROS | CONS |
| Easy-to-understand flat-fee pricing structure. Low-priced equipment. | Flat fee could prove more expensive for larger merchants. User complaints of account freezes or shutdowns over suspected fraudulent activity. |
Payment card industry compliance and support
Merchants must adhere to the Payment Card Industry Data Security Standard (PCI DSS) and most providers include PCI compliance as a basic feature of their services (if they don't, you'll probably want to look elsewhere).
However, it's important to note that this isn't a government regulation. It's actually overseen by a private, self-funded organization of card networks Visa, MasterCard, American Express, and JCB. Some of the requirements are over the head for small, inexperienced businesses, and some processors charge compliance fees even though they don't help the merchant become compliant.
Using an aggregator will be helpful for you especially when it comes to maintaining your merchant account.
TAKEAWAY
Accepting payments shouldn't be the hardest part of starting your business. Just choose how much of the process you want to manage, pick a payment processing service that fits your needs, and then turn your focus to building the next great online store.
Don’t be scared to ask for help in learning various tools and integration processes to make sure your store runs the best it can. Contact the experts at Allied Payments to help get you started with the best online credit card processing services now.
