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Best Credit Card Processors of 2021
Simplify payments & save on rate
Compare the best credit card processing companies and easily accept credit card payments.
Choose the best provider and grow your business today!
Best Credit Card Processors of 2021
Compare the best credit card processing companies and easily accept credit card payments.
Choose the best provider and grow your business today!
Best Credit Card Processors of 2021
Our brand scores - rated on a scale of up to 10 - are based on our weighted formula of TrustPilot and User Engagement scores.
Based on 18 Reviews
3.1
TrustPilot is an open, global platform where users write product reviews and assign products a star rating. If a brand does not have a TrustPilot score, its score will be based solely on the User Engagement score (see below).
Our Top Choice
1
  • Free EMV equipment
  • High approval rates
  • Rates as low as 0.15%
  • Free POS system
9.2
Excellent
Save or get $200 guarantee
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Our brand scores - rated on a scale of up to 10 - are based on our weighted formula of TrustPilot and User Engagement scores.
No reviews on
TrustPilot is an open, global platform where users write product reviews and assign products a star rating. If a brand does not have a TrustPilot score, its score will be based solely on the User Engagement score (see below).
Low Rates
2
  • Best for high risk merchants
  • 98% approval rating
  • Rates starting from 0.39%
9.0
Excellent
No application or set-up fees
Get Quote
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Our brand scores - rated on a scale of up to 10 - are based on our weighted formula of TrustPilot and User Engagement scores.
Based on 6 Reviews
2.8
TrustPilot is an open, global platform where users write product reviews and assign products a star rating. If a brand does not have a TrustPilot score, its score will be based solely on the User Engagement score (see below).
3
  • Wide range of payment solutions
  • Same day funding
  • Rates starting from 0.35%
7.5
Good
Save or get a gift card
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Read Review
Our brand scores - rated on a scale of up to 10 - are based on our weighted formula of TrustPilot and User Engagement scores.
No reviews on
TrustPilot is an open, global platform where users write product reviews and assign products a star rating. If a brand does not have a TrustPilot score, its score will be based solely on the User Engagement score (see below).
4
  • Best for quick setup
  • No long term contract
  • Rates starting from 0.35%
6.0
Fair
Best for quick setup
Get Quote
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Our brand scores - rated on a scale of up to 10 - are based on our weighted formula of TrustPilot and User Engagement scores.
Based on 22,249 Reviews
4.8
TrustPilot is an open, global platform where users write product reviews and assign products a star rating. If a brand does not have a TrustPilot score, its score will be based solely on the User Engagement score (see below).
5
  • Best-rate guarantee
  • Payments and rewards in one
  • $0 processing fees
7.7
Good
Save or get $200 guarantee
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Read Review
Our brand scores - rated on a scale of up to 10 - are based on our weighted formula of TrustPilot and User Engagement scores.
Based on 3,069 Reviews
4.7
TrustPilot is an open, global platform where users write product reviews and assign products a star rating. If a brand does not have a TrustPilot score, its score will be based solely on the User Engagement score (see below).
6
  • Compatible with multiple devices
  • Contains stacks of e-commerce feature
  • Standard rate: 2.6% + $0.10
7.5
Good
Contains stacks of
e-commerce feature
Get Quote
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21,000+
businesses have compared payment processors with
All our providers use SSL encryption to protect your data
Editorial Reviews
Leaders
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Payment Cloud
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Flagship
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Credit Card Processing.com
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Fivestars
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Our Top Choice
Our brand scores - rated on a scale of up to 10 - are based on our weighted formula of TrustPilot and User Engagement scores.
Based on 18 Reviews
3.1
TrustPilot is an open, global platform where users write product reviews and assign products a star rating. If a brand does not have a TrustPilot score, its score will be based solely on the User Engagement score (see below).
High Approval Rating
1
  • Free EMV equipment
  • High approval rates
  • Rates as low as 0.15%
  • Free POS system
9.2
Excellent
Save or get $200 guarantee
Get Quote
Read Review
What is a Credit Card Processing Company?
Credit card processing companies (also known as merchant services companies, merchant accounts providers, credit card processors, payment processors, or online payment processing companies) are companies that allow you to accept credit card payments. Credit card processors act as intermediaries between your business and your customer’s credit card/debit card provider, making this the quickest and best way to take credit card payments.
Here’s how the top credit card processors help you realize your goal of accepting credit card payments:
  • The customer swipes their credit/debit card or enters their card information to make a purchase from your business.
  • Your point-of-sale software sends the data to your credit card processor.
  • The credit card processor contacts your customer’s credit/debit card provider to confirm the customer has enough credit for the transaction.
  • The credit/debit card provider checks with the customer’s bank to confirm the transaction.
  • The credit card processor confirms the transaction and issues you a receipt to give to the customer.
The best credit card processer companies can make this happen in the blink of an eye. Modern technology, eh?!
What are Merchant Services Companies?
Not all credit card processors offer merchant services, but all merchant services companies offer credit card processing. The top merchant services companies offer a range of services to merchants (businesses), including: credit card processing, business financing, gift card programs, loyalty programs, online payment gateways, and website design. The terms ‘merchant services provider’ and ‘credit card processor’ are used interchangeably, but it’s important to remember that credit card processing is only one of many services offered by the best online merchant services providers.
If you’re the sort of business owner who enjoys the convenience of a one-stop shop, then the best credit card processor for you may be one also that offers a variety of merchant services. But if you only need to accept credit card payments, then you can freely choose from the best credit card processor companies without having to worry about whether they offer additional services.
Our Top 3 Credit Card Processors
#1
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Pros
  • Caters to all types of industries
  • Specializes in serving high-risk merchants
  • Wide selection of third-party hardware
Cons
  • Pricing isn’t at all transparent
  • Hidden fees
  • Long contracts and high cancellation fees
Leaders Merchant Services is a credit card processor specializing in serving high-risk merchants (i.e. merchants at high risk of chargeback). It caters to companies of all sizes, from all types of industries, in all 50 states. It offers a wide selection of terminals and POS systems from third-party suppliers like Clover, Verifone, First Data, and more.
#2
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Pros
  • Excellent customer service reputation
  • Integrates with any CMS (e.g. Shopify, Wix)
  • Offers web development as a service
Cons
  • Usually locks you into a contract
  • Has monthly minimum requirements, with penalties
PaymentCloud can rightly call itself a high-risk merchant specialist. Over the years, it has built up a reputation for serving dozens of high-risk industries. It continues to be one of the premier merchant services companies catering to merchants who struggle to get approved elsewhere.
#3
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Pros
  • High approval rates
  • Lowest-price guarantee
  • No long contract
Cons
  • Pricing isn’t very transparent
  • Unpredictable per-transaction fees
  • Lack of information about terminals
Flagship Merchant Services offers a solid credit card processing service, doing some things better and some things worse than its competitors. Like other authorized resellers of processing and POS solutions, it specializes in high-risk accounts. In Flagship’s case, it appears to have particular expertise in handling high-risk merchants with high volumes of online, phone, and mail-order transactions.
Credit Card Processing Fees
Typical, the best payment solutions for small business involve many different types of rates and fees. As a result, it can be difficult to run an accurate credit card merchant fees comparison.
The most important fee to know about is the interchange fee – the fee you pay for each transaction. Depending on your merchant accounts provider, you could be subject to any number of other fees and charges. According to Square, one of the top payment processing companies, the average cost of processing payments for an American business earning $10,000 to $250,000 in annual payments volume is between 2.87% to 4.35% per transaction.
Some of the best payment solutions for small business charge the interchange/transaction fee and little else, while others charge dozens of fees. There is no right or wrong. However, one thing is for sure: the top merchant services have transparent CC processing fees and charges. When you compare merchant services, always read the fine print to be sure you know what you’re being charged. Obviously, the fee structure needs to suit your sales volume; the best payment solutions for small business aren’t necessarily the same as for a large business.
Here are the main types of CC processing fees and rates to know about:
Interchange fees
Interchange is a wholesale fee that accounts for most of the cost of accepting credit card payments. Technically speaking, each card provider (e.g. Mastercard, Visa) sets its own interchange fees. However, many credit card merchant companies charge the same interchange fee regardless of card provider, making it a lot easier for you to know what you’re paying. An interchange fee comprises two parts: a percentage of the transaction amount plus a flat fee, e.g. 2.5% + $0.10 per transaction. Additional fees apply for foreign currency transactions.
Monthly fee
Some, but not all, payment processing companies charge a flat monthly fee for using their services.
Assessment fees
Some credit card merchant services charge a percentage of your estimated monthly sales volume, e.g., 0.1% of sales up to 1,000 sales, then 0.11% of the next 1,000 sales, etc.
Terminal fees
To begin accepting credit card payments, you need a physical terminal like a countertop register or mobile EMV. Most merchant services companies double up as credit card machine companies, offering to sell or lease equipment to your business. If you’re intent on buying the best credit card machine for your small business, then separate costs will apply. However, many of the top merchant services providers offer smaller equipment (such as mobile card readers) for free.
Monthly minimum fee
If you don’t reach the minimum amount of annual transactions agreed to in your contract, your merchant accounts provider may charge you an additional fee.
Additional fees
Even among the top 10 merchant services companies, you may find one or more of these additional CC processing fees:
  • PCI non-compliance: For failing to comply with credit card industry data-protection standards
  • Termination fee: For leaving a contract early
  • Statement fee: For receiving invoices and statements by mail
  • 1099-K fee: For reporting transactions to the IRS
  • ACH fees: For receiving large volumes of transactions in batches
  • Chargebacks: A chargeback is when a credit card provider refunds your customer for a disputed or fraudulent transaction.
Accepting Ecommerce Payments: Finding the Best Online Payment System
E-commerce is an important and growing source of income for many businesses. The best payments solutions for small businesses also offer online credit card processing through what are known as online payment gateways or virtual terminals. Online payment gateways securely encrypt the customer’s data and send it to the payment processor. At the back end, the process works the same as with physical credit or debit card transactions, all the way up to the issuing of a receipt to the customer.
Here are things to consider when comparing the best online credit card processing solutions:
  • Security. Not only must your payment gateway be secure, but customers must also feel that it is secure. The best online payment system lets you show off security credentials at the checkout (such as a ‘Guaranteed Safe Checkout’ sign with logos of accepted payment types). Additionally, all the top payment gateway providers have APIs that let your customers pay you securely without ever leaving your website.
  • Choice of payment methods. People have a diverse range of preferences when it comes to payment methods. The best online payment processing companies let you offer your customers the full range of methods, including Visa, Mastercard, American Express, PayPal, and Apple Pay.
  • Cost. Running an online store should be cheaper than having a physical store, and that includes being able to pay the cheapest online payment gateway fees. As always, read the fine print and make sure the fee structure suits you – the best online payment gateways for small business aren’t necessarily the same as for larger companies.
  • Compatibility. When you set up an e-commerce store, you need a payment gateway that is easy to integrate into your website and is compatible with your brand. At a minimum, the best online payment gateway must integrate with top e-commerce website builders like Wix, BigCommerce, and WooCommerce.
Getting Approved to Accept Credit Card Payments
Getting approved to begin accepting credit card payments is straightforward. As long as you can show you’re a legitimate, lawful business, you shouldn’t have too much trouble opening an account with the best card merchant services providers. Charges generally depend on how much you earn each month or year. If you fail to make the amount agreed upon with the processing company, then you may be subject to additional fees.
The one group that can have trouble getting approved by payment processing companies is ‘high-risk’ merchants: businesses that typically have lots of chargebacks or that do business in multiple currencies.
High-risk businesses include:
  • Online gambling or casinos
  • Advance bookings in travel and tourism
  • Magazine or other subscription-based businesses
  • Online dating services
  • Debt collection
  • Vitamins and supplements
  • E-commerce
If you fall into this category, then what you need is a credit card processor or merchant services provider that caters to high-risk businesses.