When starting up a business, there are many things you need to think about. This includes which credit card processing company you want to use for your transactions.
The best small business credit card processing companies will be able to provide the most secure and reliable service that is needed for your business. They can also help you save money on fees and other costs associated with running a business.
Ideally, you would be looking for credit card processing companies with low fees, as well as lower rates. This is better for small businesses because you will ordinarily have fewer transactions than a large company.
This article lists some of the top credit card processing providers for small business in the world today. These companies have been carefully selected because they offer excellent services at affordable prices.
Let’s get into the list.
Moonlight Payments is the first credit card processing company on our list. It has been providing small businesses with great customer service for over a decade.
The company offers a range of products including point-of-sale (POS) systems, online payment solutions, merchant accounts, and more.
Their POS system allows merchants to accept payments from customers using their debit or credit cards. They also offer a number of different options for accepting payments online.
Moonlight Payments does not strive to gain the most customers, but they take care of your credit card processing to the best ability. They offer competitive pricing and have a wide variety of features and benefits available.
Moonlight Payments especially takes care of small businesses that may be internet based. This is because of the amount of risks ordinarily involved.
To combat this, Moonlight Payments put together a team for you and your business, to watch out for all aspects that you want a credit card processor to be aware of.
This can include contact with the bank, questions about risks and paychecks, and recommendations for other companies to help with business fulfillment.
No matter what small business you own, Moonlight Payments is an incredibly thorough and caring credit card processor, and your transactions will always be in safe hands. Moonlight Payment continuously puts in the most effort, and they will always tailor their work to the needs of your business.
BMO Harris is another credit card processing company that provides small businesses with exceptional support. They are known for being one of the largest banks in the United States.
They have been around since 1882, and they continue to grow today. They are very committed to helping small businesses succeed.
BMO Harris is a company that is dedicated to small business, and they are one of the most inclusive banks out there. This means that there may be extra benefits and funding for those who may be marginalized or live in poorer areas.
BMO Harris are confident that as a customer of theirs, you will be able to take card payments at any time, from anywhere. You can even use them for international transactions.
They use WorldPay as their point of sale system, which you can always rely on. Additionally, BMO Harris offers you special discounts and offers if you sign up to use world pay at your business.
They do not like to charge extra fees for things such as fraud protection, which is why they offer it at no cost. They also make sure that they only require minimal information from you when setting up your account.
They also have a wide array of POS systems available. Some of these include:
- Mobile Point of Sale Systems
- Desktop Point of Sale Systems
- Online Point of Sale Systems
- Card Reader Devices
If you need to set up a credit card processing system/ POS system, you can count on BMO Harris to provide you with the right solution. They will also give you expert advice on how to run your business efficiently.
As we know, BMO Harris offers a wide range of products and services for small businesses. Aside from their excellent POS services, they offer other services to you when you are a customer at BMO Harris. Some of these include:
- Merchant Account Services
- Online Billing Solutions
- Point Of Sale Systems
- Mobile Apps
- Secure Transaction Management
- Customer Service
BMO Harris is a leader in the industry when it comes to providing quality service to small businesses. They are dedicated to making sure that every transaction goes smoothly and that your business gets the best possible experience.
Humboldt Merchant Services
Humboldt Merchant Services is a credit card processing company that specializes in serving small businesses. They provide a full suite of services, which includes everything from merchant account management to secure payment gateways.
Their core focus is on providing superior customer service. They make sure that each client receives the attention and personal touch that they deserve. They do this by offering 24/7 phone support, as well as live chat.
Humboldt Merchant Services strives to give clients the best possible experience, whether it’s through their excellent customer service or through their innovative technology. They are constantly looking for ways to improve their product offerings, so that they can better serve their clients.
Humboldt Merchant Services believe that every merchant deserves equal opportunities when running a small business, and they create custom credit card processing solutions for each business, designed on what may benefit your business the most.
It does not matter what industry your business is in, because Humboldt has been giving great service for over 25 years.
Humboldt Merchant Services offer a variety of different services. These include:
- Merchant Accounts
- Payment Gateways
- Online Billing
- Secure Transactions
- Customer Support
Humboldt has been around since 1992, and they have seen many changes. However, one thing remains the same; their commitment to excellence. They always strive to be the best provider of credit card processing services, and they want to help small businesses grow.
Priority Payments Systems
Priority Payments Systems is a credit card processing system that offers small businesses many options for processing payments.
Their goal is to provide the best possible service at the lowest price possible. Per year, Priority Payments Systems are helping small businesses put through over 500 million transactions!
Priority Payments Systems (PPS) has become one of the fastest growing payment companies in the US, and this is only for good reasons. They have been known as a revolutionary company, offering much more than a payment provider.
The team behind PPS have ensured to remain customer facing, offering amazing values as a credit card processing company.
They understand how important it is to keep up with the times, and they continue to innovate new solutions to meet the needs of their customers. This means that they will never stop improving and evolving their products.
When you choose Priority Payments Systems, you get access to all of these benefits:
- A fast-growing network of over 1,000,000 merchants nationwide
- Over 2,500,000 transactions processed annually
- Easy integration into any POS system
- No contracts required
- Free PCI compliance training
- Low monthly fees
- Free online portal for easy access to information
Priority Payments has been in operation since 1991, and they continue to thrive today. They know how important it is for small businesses to get the right kind of service, and they strive to deliver just that.
Evolve Payments was founded in 2007 by two brothers who wanted to make sure that everyone had an affordable way to accept credit cards.
Since then, Evolve Payments has grown to become one of the largest payment processors in the world. In fact, they process over $1 billion per month, which makes them the number one credit card processor in the United States.
Evolve Payments has made sure that they stay ahead of the game, so they can give their clients the best experience possible. They have continued to improve their product, and they have also expanded their services.
Today, Evolve Payments provides everything from merchant accounts to Point of Sale systems.
Evolve Payments strives to match their style of processing with the ideal merchant processor, allowing you and your small business to have the lowest interest rates as possible. This is consistent in Evolve’s business prospects.
Another great thing about the company is the ease of setting up. Once you sign the contract, you are given a processing partner, and you can work on how you want your business to thrive. Evolve always make sure that you are ready for success.
Their customer service team just adds to the greatness, too. Evolve continuously believes in putting people and small businesses first, creating and building relationships in a transactional world. Their customer service team is always accessible and ready to help.
The reason why Evolve Payments continues to succeed is because they work hard to ensure that their clients receive the best possible service. They offer great rates on their services, and they also offer free support when needed.
Merrick Bank is a privately owned bank that offers financial services to individuals and businesses. It is headquartered in New York City, but its operations extend across the country.
This bank started out as a savings institution, but it has evolved into a full-service bank offering many different types of banking services.
These include checking accounts, savings accounts, money market accounts, certificates of deposit, home equity loans, mortgage loans, commercial loans, and much more.
Merrick Bank understands that there are many different kinds of businesses, and they cater to each type of business. For example, if you own a restaurant or coffee shop, you will need a merchant account. If you run a retail store, you will need a point of sale system.
If you own a construction company, you might need a line of credit. No matter what kind of business you operate, Merrick Bank can provide all the services you need.
Merrick Bank is committed to providing excellent customer service, so they make sure that you get the information you need quickly. They also make sure that you understand the terms of your agreement before signing anything.
You should know exactly what you are getting into when you choose this bank, and you should be aware of any fees associated with using their services.
Merrick Bank offers a few services. This includes: online bill pay, mobile check deposits, electronic payments, international wire transfers, ATM withdrawals, debit card purchases, and more.
Merrick Bank is one of the few banks that offer a wide variety of products at competitive prices. The fact that they provide these services at such affordable rates makes them an attractive option for both new and existing customers.
Frequently Asked Questions
How Do I Choose A Credit Card Processing Company?
As a small business owner, choosing a good payment processor is very important. A bad processor could cost you thousands of dollars per year. On top of that, you may lose customers due to poor service.
If you don’t have the time or resources to research which processor is right for you, then we recommend that you use a processor that specializes in small businesses. As a result, you’ll save yourself from having to learn everything about every processor.
You’ll find that most processors specialize in certain industries. For example, some processors only accept credit cards from restaurants, while others only accept credit cards from ecommerce stores.
When researching a processor, look for one that offers quick response times. Some processors take days to respond to inquiries, even though they claim otherwise.
Also, look for a processor that provides 24/7 support. Many processors say that they offer 24/7 support, but they actually mean that they answer emails during normal business hours.
What Are The Average Credit Card Processing Fees That Merchants Pay?
The fee charged by a processor depends on several factors, including how long the transaction takes, whether the transaction is recurring, and whether the merchant uses a third party gateway.
Most processors charge between 1% and 2% of the total amount of the transaction. However, some processors charge as much as 3%.
Most processors charge monthly fees, although some charge annually.
Some processors charge a setup fee, which is usually $100-$200.
Do I Need A Merchant Account For Online Business?
Yes! It is essential that you obtain a merchant account for your online business. Without it, you won’t be able to process transactions on your website.
A merchant account allows you to receive money electronically. When someone buys something through your site, the processor will send the funds directly to your bank account.
A merchant account can help you avoid fraud charges. If you don’t set up a secure server, hackers could steal your personal information.
Some processors charge monthly maintenance fees. These fees cover things like keeping your account safe and monitoring suspicious activity.
Most processors require a minimum balance each month. If you fail to meet this requirement, they could close your account.
Some processors charge a transaction fee for each purchase made with their network. This fee varies depending on how much you spend.
Merchant accounts also come with other benefits. You’ll get access to tools that make it easier for you to manage your finances.
For example, many processors provide a free budgeting tool. They also allow you to create invoices and track customer payments.
Finally, a merchant account makes it easy for you to accept payments online. Most processors let you add a button to your website so that visitors can easily buy products.
This way, you can collect sales tax for any state where you do business. In addition, you’ll be able to print receipts and keep records of all purchases.
Finally, you should note that not all processors offer the same services. Therefore, it’s important to compare different processors before choosing one.
Many processors offer a variety of plans. Each plan has its own advantages and disadvantages.
For example, some plans include discounts for large volume orders. Others have lower rates for recurring customers.
You should find out which plan works best for your needs.
Who Are Stripe’s Competitors?
Stripe is a popular alternative to PayPal and PayPal Pro. Both companies are owned by eBay. However, Stripe was founded in 2011 while PayPal was created in 1998.
Stripe offers more features than most other providers. For example, it lets you automatically convert credit card numbers into tokens.
In addition, you can use Stripe to accept payments from mobile devices. This feature isn’t available with PayPal or PayPal Pro.
As mentioned above, Stripe converts credit cards into tokens. Then, these tokens are stored securely on your servers.
When someone wants to pay you, they enter their card details on your website. The token is then sent to Stripe. The company verifies the card number and sends back a confirmation code.
The buyer then enters this code into your website. Once everything is verified, the amount due is deducted from the user’s card.
Stripe’s Competitors are Moonlight Payments and BMO Harris. Moonlight Payments is a relatively new company, but a company with a lot of confidence.
Moonlight Payments provides an API that allows developers to integrate payment processing directly into their websites.
BMO Harris is a well-established provider that focuses on small businesses. It offers a wide range of services including point-of-sale systems and ecommerce solutions.
BMO Harris also allows you to accept payments anytime and anywhere, allowing the same freedom and service that Stripe may do.
How Much Is Square Processing Fee?
Square is another option for accepting payments through your website. Square charges $10 per month plus 3% + 30 cents per transaction.
They charge $1 per transaction if there is no monthly fee.
This is good for convenience, but this fee is too high in comparison to better options such as Moonlight Payments.
Is Square Up Good For Small Businesses?
Yes! Square is good for small businesses because it’s free to get started.
Once you start using the service, you will see how convenient it is. You don’t need to worry about dealing with complicated software.
All you need is a smartphone and a tablet.
Most importantly, you won’t lose money when you process payments.
However, you should know that Square doesn’t support international transactions.
If you want to accept payments outside the US, you should look at other options such as BMO Harris or Evolve Payments.
How Do I Avoid Payment Processing Fees?
There are many ways to reduce the cost of accepting payments.
For example, you could choose to use a third party processor instead of doing it yourself.
Third parties offer a variety of services including merchant accounts, fraud protection, and customer support.
Another way to reduce costs is to use a hosted solution.
Hosted solutions allow you to focus on building your business while the platform handles all the technical aspects of running your store.
Hosted solutions include platforms like Braintree, which provide APIs that allow you to add payment processing capabilities to your site easily.
You can also find other companies who specialize in providing hosted solutions.
Other things you can do to save money include:
Use a single vendor for both your POS system and your payment gateway. This reduces the overall cost of your setup.
You can also set up recurring billing, so customers pay every month automatically without having to remember to make a one-time purchase.
Payment gateways often have special deals available to small businesses.
These deals usually come in the form of discounts on credit cards or lower fees.
What Payment Gateway Is Best For Shopify?
Shopify has partnered with several different providers to help merchants accept payments online.
The most popular ones include PayPal, Stripe, and Braintree.
Each company offers its own benefits and drawbacks.
As a small business owner, you must be aware of what each of these options entails. It is important to find a good credit card processor for your company, as many will have more benefits than others.
It’s important to understand the pros and cons of each before choosing the right one for your needs.
Hopefully, this guide helped you decide which credit card processor is best for your business.
Paul Martinez is the founder of EcomSidekick.com. He is an expert in the areas of finance, real estate, eCommerce, traffic and conversion.
Join him on EcomSidekick.com to learn how to improve your financial life and excel in these areas. Before starting this media site, Paul built from scratch and managed two multi-million dollar companies. One in the real estate sector and one in the eCommerce sector.