Cheapest Credit Card Companies & Their Processes To Accept Payments in 2020


Are you looking for the right online payment processing solutions?

 

Businesses have realized that it’s crucial more than ever to accept debit and credit cards for payments.  More and more customers are relying on the novel method of transactions instead of cash to pay for most of their purchases.

 

If you’re an e-commerce business owner selling your services and products online through ‘plastic’ money in one form or another, teaming up with a online payment provider is one of your best options.

 

The digital card industry is expanding, especially for a first-time business owner and entrepreneur. There are hundreds of companies that offer transaction services for businesses and each one of them offers different contract terms and processing fees and rates. A provider that is termed as excellent for a small business might not be ideal for a larger business and vice versa. Naturally, all business owners want to cut the confusion and go for the one that is best for them.

What is a Credit Card Processing Company?

Credit card processing solutions offer card facilitation for businesses

Credit card processing solutions offer card facilitation for businesses. While the procedure itself happens in just a matter of seconds, a lot more is involved when it comes to the back end of a transaction. The money is administered from user’s account, to merchant’s bank account, where the payment usually ends.

Any merchant that wishes to accept payments must affiliate themselves with an official credit/debit card processing company.  These companies can also facilitate payments from numerous channels such as PayPal, Google Pay, checks and apple pay.

While you are choosing a credit card company, be mindful that there is no such thing as one-size that fit all option. It is essential that you find the platform that best matches your own business needs, goals and budgets. Some providers focus on in-person transactions and point of sale systems, while others focus on online payments. Some providers also provide one-in-all solution for many types of sales. Certain companies cater specifically to certain types of businesses that have a certain level of sales volumes.

 

What are the cheapest credit card processing companies?

Being a small business in the modern times is no easy task

Being a small business in the modern times is no easy task. Not only the plethora of competition is always behind the same segment of customers, but the modern technology has also evolved how businesses operate!

Over 80% of consumers use credit or debit cards for everyday purchases and transactions and spend over 83% more than shoppers who use cash. We have calculated the most affordable card processing options by comparing their monthly and per-transaction fees.

For your ease, here we have listed down 12 cheapest credit card processing companies that are ideal for small businesses:

1. Helcim

Helcim provides credit card processing the way small businesses need it: with complete transparency. All of its pricing is clearly mentioned on its website and they also offer detailed online tutorials on how to run the system smoothly. It is one of the safest and most affordable companies to work with

For pricing, check their website https://www.helcim.com/us/

2.    Square Point of Sale

Square point of Sale has incredible feature selection for businesses looking for predictable and flat pricing scheme.  With all of its amazing features, it always offers reasonable prices and their customer support staff is one of the best when it comes to solving queries.

For pricing, check their website https://squareup.com/us/en

3. Payment Depot

Payment Depot has a very impressive wholesale-style of pricing structure that lets customers predict that they might end up paying.  Regardless, the price is still higher than most and a bit too much for small businesses. However, the higher price makes up for the stellar services the company offers

You can check their pricing here: https://paymentdepot.com/

4.    Intuit QuickBooks Payments

If your retail operation is standardized already for general accounting on Quickbooks, it may not be necessary for you to go for Intuit QuickBooks Payments. However, if you’re not an Intuit customer, then this credit card processing company’sgateway is an ideal choice, even though it can be a bit expensive.

For payment options go their website: https://quickbooks.intuit.com/

5.    Cayan

Cayan has an impeccable reputation for delivering a wide range of software and hardware combined with an open-ended API. While you might find the pricing to be a little more than regular prices, it is worth a look.  The customer care staff is also one of its selling features as they are available 24/7 for help.

Check their website for more details and pricing options: https://www.tsys.com/

6.    Credit Card Processing.com

CreditCardProcessing.com is great when it comes to offering an endless range of pricing plans and schemes along with hardware equipment. They have a range that suits every size of business, big and small. However, the disadvantage is that they are very vague about the exact cost for everything, unlike their counterparts mentioned above.

Check their website for more details and pricing options: https://www.creditcardprocessing.com/

7. National Bankcard

National Bankcard has a solid reputation for offering incredible customer services that also offer a range of payment processing and pricing options along with a full range of hardware. However, just like several of its competitors, it is also a bit vague about its pricing scheme.

Check their website for more details and pricing options: https://nationalbankcard.com/

8. Payline Data

Payline Data offers secure payment technology options to both large enterprises and small businesses. It has managed to build a high reputation when it comes to offering its customers an ideal customer care reputation. Plus, their tool kit offers all the features most e-commerce business owners would require along with a wide range of online payment processing solutions.

Get more details on its features and pricing here: https://paylinedata.com/

9. Sam’s Club Merchant Services

Sam’s Merchant Services is one of the very few credit card processing companies that are clear and transparent about their payment options on its website. However, they use proprietary hardware equipment that ends up binding you into a multi-year contract system.

For payment options go their website: https://www.samsclubms.com/pricing.html

10. Flagship Merchant Services

Flagship Merchant Services offers customers what they need from a credit card processing service. Their features are endless and cater to both small and largescale businesses. However, they are also a bit vague about their costs and exact pricing schemes.

For payment options and other details, check their website: https://www.flagshipprocessing.com/lp59/?

11. Dharma

Dharma is one of the oldest merchant services providers that specializes in offering independent and small scale businesses flexible solutions for accepting online and offline payments.  Dharma offers one of the lowest pricing for restaurant and storefront payments,along with low interchange-plus pricing.  Therefore, Dharma is one of the lowest pricing options for retails and restaurant businesses with over $10,000 per month transaction and an average transaction size above twenty dollars.

For more details, go to their website: https://dharmamerchantservices.com/

12. Fattmerchant

Fattmerchant is a subscription-based credit card processing services provider, which is similar to Payment Depot. However, their pricing and software are slightly different.  Fattmerchant has a lower transaction fee but higher monthly subscription fees as compared to Payment Depot, making it ideal for large businesses.

 

The Best Affordable Credit Card Solution Provider?

Credit card and payment processing is a necessary requirement for all retail businesses however; they come at a cost.  Many companies advertise rates that are completely different from what they actually offer.

It is tricky to find the cheapest credit card payment processing company, but finding the right one can save your business thousands of dollars every month.The best credit card processing company, in this regard, will be a PAYMENT DEPOT, as it offers extremely low-cost subscription payment fee.   A single subscription includes a free gateway, mobile and in-store processing, and low rates for online processing. All of their plans and packages come with a 90-day money-back guarantee and chargeback and risk monitoring option. Plus, they offer next day funding, which can sometimes take days and even weeks with some of the credit card processing companies.

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