The Best Credit Card Processors of 2023

Discover which credit card processors are the best for small to medium businesses in 2023. We reviewed over 100 options, and here are our findings.


Credit card processing is an integral part of any business’s operations. But with so many different pricing options available, it can be difficult to know which credit card processor to choose! To help you make an informed decision, here are some of the best credit card processors and what they have to offer:

  1. Square – This mobile point-of-sale (POS) and payment solution is popular among businesses both large and small. It offers a simple setup process that only takes a few minutes and gives users access to features such as robust inventory management, analytics, customer feedback tools, and more. The rates charged by Square vary depending on the type of transaction but they generally start from 2.6% + 10c per transaction.
  2. Stripe – This well-known payment service is used widely by businesses around the world due to its fast onboarding process and powerful fraud protection capabilities. With Stripe, merchants can securely accept payments over the internet in multiple currencies from anywhere in the world. Their rates start at 2.9% + 30c for US-based businesses with no hidden fees or long-term contracts.
  3. PayPal – Known for its intuitive user experience, PayPal is one of the most popular payment solutions used today. It enables customers to make secure payments online in just a few clicks and its fees are competitive with other providers – 2.9% + 30¢ per domestic transaction – making it especially attractive for small businesses operating on tight budgets!
  4. Adyen – This innovative platform allows businesses to accept payments quickly across different channels without having separate accounts or logins for each of them! With Adyen’s powerful global processing capabilities, you can also manage subscriptions and automatic recurring billing while benefitting from lower fees on international transactions than those offered by most banks or other providers.
  5. Braintree – Boasting advanced fraud protection tools, Braintree provides customized payment solutions that are tailored to your unique business needs from e-commerce stores to marketplaces & enterprise companies! Fees start at 2.9% + 30¢ plus there’s no monthly fee or setup cost making it budget friendly for smaller operations too!
  6. Intuit – Popular among businesses due to its comprehensive financial management capabilities, this payment solution also offers competitive credit card processing fees at 2.7% + 25c per transaction. It integrates seamlessly with other Intuit products like QuickBooks and GoPayment to provide a streamlined experience for merchants.
  7. CyberSource – This enterprise-level payment platform is tailored for larger businesses thanks to its extensive customization options and powerful security features that help protect both merchant and customer data. It offers competitive rates starting at 1.89% for US-based customers plus you get access to its analytics tools allowing you to easily monitor payments & improve your processes accordingly!
  8. – With secure payment gateway services, this provider makes it simple for customers to pay using their debit or credit cards whether online or over the phone in multiple currencies making it a great choice for international transactions too! Fees are charged on a monthly basis & start from $25/month plus $0.10 -$0.30 per transaction depending on which package you opt for!
  9. TrustCommerce – Trusted by companies large and small, TrustCommerce makes accepting payments easier with their suite of products & services ranging from basic gateways to multi-currency solutions & utilizes two-factor authentication (2FA) technologies including thumbprint readers & voice recognition ensuring maximum security when it comes to managing your customer’s sensitive information !
  10. PayJunction – This cloud-based system offers an efficient way of dealing with transactions without the need for additional hardware or software thanks to its ‘Smart Terminal’ technology which can be used across multiple devices simultaneously – perfect for those times when cashiers need extra support during busy times! Fees vary from 0.75%-3% depending on your requirements but rest assured all payments processed via PayJunction are safe & secure with payment data encrypted using bank-grade encryption technology.
  11. Fattmerchant – This subscription-based payment provider offers promises low flat rates for all your transactions regardless of size or volume. They also provide a range of features such as data analytics & reporting tools giving businesses complete visibility into their payments plus the ability to monitor sales trends over time.
  12. PayFlex – With end-to-end payment processing solutions, this provider is ideal for ecommerce stores that need access to secure global payment gateways & one click checkout systems that allow customers to quickly purchase products online without being redirected away to another site at the checkout stage – great for increasing conversion rates! Fees start from 1.5% per transaction & there’s no monthly fee or setup costs either!
  13. BlueSnap – Offering a plethora of features like invoicing, shopping cart integrations & advanced fraud protection, BlueSnap is perfect for businesses that process high volumes of credit card payments on a daily basis. It also supports multiple currencies & languages making it suitable for international operations too! Plus their fees start from just 2.9% + 30¢ per transaction!
  14. WePay – With their secure payment platform designed specifically for businesses operating in the US, WePay allows users to accept fast online payments in multiple currencies with no setup fees or contracts involved meaning you only pay when you use them – perfect for those operating on tighter budgets yet still wanting access to reliable payment processing services!
  15. Amazon Pay – For those already selling goods through Amazon this provider offers fast & secure payment services that integrate seamlessly with your existing shop allowing customers to pay using their Amazon account credentials adding extra convenience when making purchases online while benefitting from lower than average fees starting at 2%.
  16. Stripe – With its intuitive dashboard & simple setup process this provider makes accepting payments easier than ever before. It also supports invoicing solutions as well as other useful features like recurring billing options & fraud detection making it ideal for businesses handling digital transactions or subscription-based services. Fees start from 2.9% + 30¢ per transaction with no setup or monthly fees involved!
  17. Square – Commonly used by small businesses due to its affordability & ease of use, this cloud-based payment provider offers competitive rates ranging from 1.5% – 3.5%, depending on the type of card being processed & whether the customer is physically present at the time of purchase or not; plus there’s no additional setup costs with their basic package either so it’s perfect for those on a tighter budget!
  18. Braintree – This provider is great for businesses looking to process payments online or through mobile applications as it offers a range of customizable options that allow users to seamlessly integrate their existing systems into the platform including integration with popular e-commerce platforms like Shopify & Magento plus you can accept payments in over 45 countries meaning you can tap into a global market!
  19. PayPal Here – Offering all-in-one solutions for managing credit cards payments, PayPal here allows customers to pay using their debit/credit cards, store loyalty cards, and even through popular messaging apps like WhatsApp – all whilst benefitting from low rates starting at 1.8% (UK) plus 20p per transaction across most major currencies!
  20. Global Payments – Perfect for those needing access to secure payment gateways with quick integration times, Global Payments provides businesses with access to dozens of countries around the world making it suitable for international operations too! Plus their fees start from 1.6% + 25c per transaction making them one of the more affordable options out there!

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When choosing which credit card processor is right for your business it’s important to consider factors such as security measures, ease of use & integration with existing systems as well as pricing options before making any decisions based on price alone – after all these days when our data security is increasingly under threat protecting ourselves & our customers must come first!

What are the Steps of Credit Card Processing?

Every day, businesses of all sizes depend on credit card processing to accept payments from their customers. But with so much happening behind the scenes, what exactly is involved in the process? This article takes a look at each of the steps that occur when a customer pays by credit or debit card.

  1. Authorization – Before any payment can be accepted, the customer’s card must first be authorized by their bank or credit card company. This happens when the merchant submits the merchant identification number (MID) and purchase details to the issuing bank which verifies that the account is valid and that there are sufficient funds available for the transaction. If approved, an authorization code will be returned to confirm payment can be taken.
  2. Clearing – After receiving authorization from the issuing bank, clearing begins which involves sending a batch of transactions through an acquirer or third-party processor who then transfers them onto a network like Visa/Mastercard for settlement into an appropriate merchant account.
  3. Settlement – When funds have been settled into a merchant’s account, it signifies that payment has been completed and successful and an acknowledgment will be sent back to complete the transaction cycle. The amount agreed upon between purchaser & seller minus any associated fees will then appear in accounts receivable as income for that particular business day!
  4. Funding – Once all steps have been successfully completed, funding will take place where funds are transferred from one party’s account to another – i.e., from the issuer (customer) to the acquirer/processor (merchant). This can vary depending on time zones & cut-off times but generally speaking, it should occur within around 24 hours after settlement has been confirmed!

Processing credit cards can seem complicated but when broken down into these four main steps it becomes much easier to understand! By following standard protocols for authorizing transactions & completing settlements promptly, businesses shouldn’t experience any issues taking payments online or offline without issue!

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