Comparing the top 5 credit card processing companies
Accepting credit cards is nearly hard to do business without these days, whether in person or online. You will, however, need to hire a card processing business to accept credit card payments.
Unfortunately, determining what credit card company is best for your company can be difficult. Some organizations charge a per-transaction price that decreases as the number of credit card transactions increases, while others offer flat-rate pricing that is more advantageous to businesses who process less credit card transactions. The top five credit card processing businesses are as follows:
5. Cayan
Cayan, previously marketed as Merchant Warehouse, is a payment service that was formed in 1998. Cayan has operations both in the United States and the United Kingdom, with its headquarters in Boston. The benefit of employing Cayan’s services, according to the company, is a completely integrated solution that operates across numerous channels, notably online, in-person, and through mobile devices.
If you need to accept card payments but want to use your existing PC with an internet connection rather than specialist point-of-sale equipment, Cayan offers a virtual terminal alternative. One can still take credit and debit cards using the virtual terminal; but, instead of using a credit card machine, you’ll just use the internet and your computer.
4. Payline
Interchange-plus pricing is what Payline gives its customers, which industry experts advocate as one of the most clear and cost-effective pricing strategies for most firms.
Pineapple Payments owns Payline, formerly branded as Payline Data, a full-service card processing company. It works with established and start-up companies in a variety of industries, including retail, restaurants, e-commerce, healthcare, nonprofits, and education. Some high-risk businesses use its processing services as well.
Payline’s primary price plan is straightforward to locate and understand on its website, but you’ll have to contact a sales professional if you’re interested in its processing facilities or specialty pricing for medical practices, charity and educational groups, or high-risk firms.
3. Square
That there were no long-term commitments or monthly or annual costs; you only pay for the work you utilize. It may be used by enterprises of all sizes, as well as individuals such as freelancing, gig workers, independent contractors, and sole proprietors, and the basic processing facilities are simple and inexpensive. To begin receiving payments, all you need is a card reader and an app for your phone or tablet.
Square users adore how simple it is to use, and one of the reasons for it is its straightforward and upfront processing fees, which may be one of the most perplexing parts of paying by credit card. Square has a flat-rate pricing strategy, which means you pay the same fee regardless of the credit brand and type your consumer uses — credit or debit, normal or rewards. This fee structure can save you money if your consumers choose American Express and platinum rewards cards, or if you handle a low amount of cards each month.
2. Helcim
It features lower-than-average in-person processing rates and is one of the few online payment providers that offers a rate guarantee. It offers excellent customer service and does not require a long-term commitment or termination costs because it operates on a pay period basis. Exchange rates and card brand fees are the same for all credit card processors.
Interchange-plus pricing is preferred by industry experts because it allows you to know exactly how much you’re paying the processors, whereas tiered pricing combines expenses and margins. In addition to this price approach, the finest processors publish their prices online and do not charge hidden costs, so you know what is expected when you receive your bill.
1. BackPAY
Create QR Codes that allow customers to pay using their mobile devices. Ideal for restaurants. Review your receipt and split the check, pay your server. Tap a tip, dip or swipe and you’re done! No App Needed.Users use their phones in order to scan the QR codes using the camera app. This will open the URL. Secure. Fully PCI-compliant and EMV-ready. Universal. Included are all major payment methods. BackPAY is integrated with over 200 processors and the 125+ shopping carts we work with and a variety of payment options that merchants prefer to utilize, we’ll likely be able to support it.
BackPAY is changing the payment industry by allowing entrepreneurs to get monthly commissions from their own processing of credit cards. BackPAY is a free service which rewards YOU the business’s owner by accepting credit cards. Change to zero-fee processing with BackPAY and receive monthly sales commissions.
