Explore your business's best credit card processing solutions with our comprehensive guide. Learn about fees, providers, and more with Swipesum!
TL;DR:
Finding the best credit card processing solution is crucial for businesses accepting card payments. Swipesum offers a free service to help businesses choose the right processing partner. Major providers include Square, Stripe, Elavon, and Checkout.com. Each has unique features and pricing structures.
Main Points:
The big names in card processing are big names for a reason. They’re very accessible and generally have what seem like reasonable fees (although often not the lowest fees). Additionally, they offer an acceptable level of support or better.
Check out these capsule reviews for key highlights. Then, get in touch with our team to learn whether one of the big names in credit card processing is right for you — or if there’s another option that can offer lower costs and better support.
One of the following credit card processors might be the best choice for your business, but don’t jump to conclusions. Make sure you find a credit card payment processor that can truly support and enhance your operations.
Square is a top company in the world of credit card processing. The advantage of a processor that handles just about everything needed to accept card payments can’t be ignored. Neither can Square’s prioritization of mobile payments and its easy options for set-up.
We specifically recommend Square for merchants with very little volume and small ticket sizes. If that description matches your business, you will have the best experience with Square’s pricing structure. Square can be effective for merchants with higher volumes and ticket sizes, but it’s certainly worth exploring other options.
Stripe’s most well-known feature is likely its strong integration capabilities. That makes this credit card processing provider a popular choice for ecommerce merchants. Offering near-instant provision of funds from completed transactions can also help merchants better manage their cash flow.
We specifically recommend Stripe for new SaaS businesses. This provider’s pricing is notably expensive. So, it makes sense to take advantage of Stripe’s many benefits with lower sales volume, then look at other options as volume grows.
Elavon is well-known for offering a wide range of card payment solutions for ecommerce and brick-and-mortar businesses. Specifically, multiple integration options make it easy for online merchants to start making sales. Its chargeback management tools and reporting features are also often cited as benefits for its customers.
The potential negatives of Elavon include the lack of clarity in pricing due to its quote-based system for potential customers. Elavon also has a reputation for slower access to recent payments, which can cause complications for some merchants.
Checkout.com is another established payment processing provider with a strong overall reputation. It can capably serve a wide range of payment processing needs. However, we’ve found that it’s best for two specific scenarios:
Between the major industry players reviewed above and the many smaller companies offering credit card processing services, it’s not easy to find the best option for your company.
Many options mean plenty of opportunities to find an exceptional combination of support, pricing, tech, and overall service. However, it also requires business owners and staff without in-depth payment processing expertise to research, review, and narrow down a list of potential partners.
Here’s a reminder: You don’t have to find the best credit card processing for your business on your own. Swipesum can help! Leverage our in-depth industry expertise and experience to find a truly great processing partner at no additional cost to your company.
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Michael Seaman
Michael Seaman is the co-founder and CEO of Swipesum. A veteran of the payments industry and former employee at one of the largest payments companies, Michael, along with his brother Stephen, has led Swipesum since its inception in 2016. Swipesum is committed to providing innovative payment solutions and exceptional service to its diverse clientele. In his free time, Michael enjoys traveling with his wife Kelsey and their three children, pole vaulting, and engaging in typical Midwestern dad activities.
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