10 Best Credit Card Processing Services in 2024

Leaders Merchant Services promises to try to at least meet, but in many cases beat, the rates of your previous processor. You’ll be asked to provide your two most recent monthly processing statements and the sales agent will try to offer a better deal overall. 

This makes Leaders Merchant Services a nice option if you’re already with a payment processor – you can use your current rates as a starting point on the negotiation table.

While merchants looking for their first payment processor won’t have existing rates to beat, they’ll still benefit from Leaders’ industry low processing rates, quick approval, and impressive features such as customer loyalty programs, business loans, and cash advances.

As for the actual payment processing services, Leaders Merchant Services offers reliable solutions1 for both in-person and online transactions, from all-in-one terminals to iPad and Android card readers that allow you to accept payments wherever your business takes you. Its terminals integrate with a range of e-commerce software. 

Leaders also offers 24/7 technical support, with an entire department dedicated to helping you effectively dispute chargebacks. If you’re a mid or high-risk merchant, this will likely save you a lot of money (and headaches) over time.

Paysafe suits businesses selling high-value items such as art, luxury goods, and antiques at low volumes. Its low transaction fees starting at 0.99% + 25¢ (debit cards) and support for 120 markets and multiple currencies, including local payment methods, make it ideal for processing transactions of significant value without barriers. Paysafe also caters to high-risk sectors such as gaming, crypto, and forex.

The processor offers e-commerce solutions, including online shopping carts, gateways, customizable hosted checkout, and various integration options. For example, through its software partnership with Vindicia, you can access advanced subscription billing tools. The platform’s sophisticated algorithms and subscription intelligence also aid in recovering failed payments.

Paysafe simplifies chargeback management1 with its Encytro Advantage Program. Instead of paying fees for every chargeback, you’ll pay a flat monthly fee per location, which makes you eligible to submit claims for reimbursement for covered chargebacks and costs. This approach reduces chargeback costs, particularly for high-risk merchants, helping maintain financial stability.

Square stands out for businesses that sell across multiple channels, offering comprehensive features for both online and in-person transactions. Besides seamlessly integrating with various e-commerce platforms, Square stands out as one of the few processors offering a proprietary website builder. This allows you to build a simple e-commerce store for free using Square Online. Square also provides a card reader even on its free plan.

In addition, Square allows you to easily create a small business checking account and gives you instant access to your earned funds.  It offers transparent pricing with a percentage markup and a flat transaction fee, with different rates for online and in-person sales.

You can be selling with Square in just two minutes1 – there’s no lengthy vetting process. But there’s a catch – Square doesn’t work with high-risk merchants and might terminate your account at any point if it classifies you as one. That said, if you’re a low-risk merchant and have left setting up a processor until the last minute, this is one of the few processors that won’t delay the launch of your new business.

If you’re tired of credit card processors taking a sizable cut of every transaction, you’ll like Stax’s simple monthly payment model. You just pay a monthly subscription with no percentage-based markup. While there is a small flat fee per transaction in addition to the wholesale interchange rates, Stax’s per-transaction fees of 0% + 10¢ (in-person) are among the lowest in the industry.

Due to the higher-than-usual monthly subscription, Stax’s pricing model makes sense If you’re processing over $8,000/month in card sales. High-volume businesses processing around $500,000 a year can save up to 40% with Stax compared to a traditional processor that uses a percentage markup on every transaction.

Stax is a particularly good option for online selling,  featuring a tool that allows you to create a custom shopping cart in a few clicks. It also provides easy integrations for popular e-commerce and accounting platforms, though you’ll have to pay for some integrations. Its flexible API even lets you implement your own checkout system and create custom integrations.

Payment Depot has high customer satisfaction. Anywhere you look online, you’ll find happy merchants speaking of the savings they’ve made working with Payment Depot. And they’re not lying – Payment Depot is among your cheapest options, thanks to its low-priced monthly subscription model.

Like nearly all monthly subscription credit card processors, there’s a minimum amount you’ll need to be earning to really take advantage of Payment Depot’s monthly pricing. Like Stax, I’d recommend a stable monthly income of at least $8000.

Unlike the support teams of many credit card processors, who seem to disappear when issues occur, Payment Depot offers responsive and incredibly helpful 24/7 phone support. In fact, Payment Depot’s dedicated risk monitoring team helps your business avoid roadblocks even before they occur by minimizing your risk of chargebacks and fraud.

Small to medium-sized enterprises will find a lot to love about Chase Payment Solutions. With no mandatory contracts, monthly fees, or hidden costs and simple interchange-plus pricing, this credit card processor is designed to keep your overhead low. You won’t miss out on any core features, either. Your merchant account comes with a range of software to help you grow your business, including a customer buying habits tracker.

Chase also stands out for providing rapid access to your funds. Next-day payouts come as standard, and Chase banking customers even get same-day payouts. You may have to pay a small monthly fee for your bank account, but this can be waived if you meet certain criteria that are fairly accessible for mid-sized businesses.

Please note that you will need to buy all the required hardware directly from Chase’s limited POS selection, which comprises proprietary devices that may not be reprogrammable in the future. The good news is that Chase frequently offers promotions on its device range, allowing you to obtain equipment for your premises (or field technicians) at a discounted price.

Sekure Payment Experts is not a typical processor, but it leverages a broad partner network to provide tailored solutions for your business. It’s an attractive option for small businesses looking to minimize expenses because it offers free equipment, PCI compliance, and same or next-day payouts. Additionally, your business can benefit from a free virtual terminal and gain access to the trusted Authorize.net payment gateway for a fraction of the usual cost.

Sekure’s focus on budget efficiency is further backed by its zero-cost processing program, Edge. It allows you to save up to 100% on processing fees by passing a 4% fee onto customers who choose to pay with a credit card while still offering the option to pay with cash without extra charges. This model fully complies with credit card brand rules and provides a transparent way to eliminate processing fees.

Additionally, Sekure offers custom pricing for unique business operations and transparent interchange-plus pricing. For new businesses or those processing low volumes, Sekure’s Simplified Pricing model offers a single flat fee for all transactions, ensuring predictability in your processing costs. However, make sure you carefully review your contract terms before signing, as conversations with its sales team often lack clarity.

Starting an e-commerce business isn’t easy. Not only do you have to select a good payment processor, but you’ll also have to find a web hosting company that provides decent performance and store development tools. Helcim handles this for you by offering free web hosting, a store builder, and payment processing services.

This is great if you’re selling online, but the picture isn’t quite as rosy if you take payments in a brick-and-mortar store. Helcim only integrates with a limited range of third-party POS hardware, which doesn’t include any third-party card terminals. Essentially, you’re forced to purchase its proprietary card reader outright.

Still, if you’re happy to use Helcim’s hardware, this all-in-one solution definitely makes things easier. Helcim’s platform is super user-friendly – every aspect, from store and checkout creation to customer & inventory management, requires zero code and can be controlled with a few clicks. Best of all, Helcim doesn’t lock you into a contract – you can cancel anytime without paying a fee.

POS Pros’ industry-specific approach to POS solutions offers a lot to businesses that rely mostly on in-person transactions. Restaurants, retailers, hotels, and healthcare practitioners can all benefit from this approach, which takes into account not just your business type, but also its size and unique processing needs.

During an initial consultation, a POS Pros specialist will recommend several point-of-sale equipment options. You’ll then be able to test the interface and features of each POS system during a free virtual demo. This personalized approach can help both new and established businesses avoid buying the wrong equipment.

While POS Pros offers interchange plus, tiered pricing, and cash discount plans for both brick-and-mortar and e-commerce merchants, it doesn’t post pricing and fees on its website. While this quote-only approach has its advantages, it can make it more difficult if you’re comparing multiple processors to determine which is your best option.

If you operate in a high-risk industry or have a poor credit score, you’ll probably find that many credit card processors won’t even speak to you. Thankfully, PaymentCloud has a 98% approval rate – one of the highest in the US.

While mid and high-risk merchants are charged a slightly higher percentage markup per transaction, the rates are reasonable compared to other high-risk payment processors that often take advantage of your narrower range of choice.

In addition to providing a free POS terminal, PaymentCloud can set up a virtual terminal and payment gateway for you. Furthermore, PaymentCloud has one of the longest lists of accepted payment methods I’ve seen from a credit card processor. It even accepts crypto, including popular coins such as Bitcoin, Ethereum, and Monero.