5 Best Merchant Services for Your Online Business

Monday, August 8th, 2022

5 Best Merchant Services for Your Online Business 

If you want to accept credit and debit cards from your customers, your business needs to have a merchant account. The latter plays the role of a necessary intermediary required for drawing funds between customers’ bank accounts and depositing that money into the business’s bank account. This article will help you with some of the best merchant services and where you can get the right payment processing solutions for your business. 

Best Merchant Services for Your eCommerce Business

Thanks to merchant services, it’s possible to accept credit and debit card payments for your business. Merchant account isn’t the only payment processing service processors provide. They also offer other payment processing tools such as payment gateways, virtual terminals, point-of-sale (POS) systems, and card-reading hardware.

Let’s discuss some of the best merchant processing services so you can make your choice:

1. Stax

You can opt for this service for any type of payment.

Pros

• You can accept all payments, including ACH.
• Doesn’t charge any markup on the direct-cost interchange.
• Fine for deep analysis and reporting.

Cons

• You’ll need to sign up for higher plans to use its invoicing features.
• Lack of transparency related to its pricing for a large business package.

2. Payment Depot

Consider this service if you’re an already established business. 

Pros

• Doesn’t offer contract processing.
• Acceptable rates.
• Ease of integration.

Cons

• Ideal for businesses processing high volumes.
• Application process.

3. Square

If you’re looking for transparent pricing or fees, you can choose this one. 

Pros

• Doesn’t charge any monthly fees.
• Transparent processing.
• Doesn’t charge for a card reader.
• Additional features. 

Cons

• Doesn’t offer ACH payment processing.
• More costly fees than desired.

4. Chase Payment Solutions

You can opt for this service if you need a merchant account offered through a bank.

Pros

• Direct processor.
• You can negotiate the rates. 
• Chase business checking customers can receive same-day funding.

Cons

• Long-term contracts can be required for some plans.
• The website doesn’t provide information on all pricing.

5. Helcim Review

This is a nice option for small businesses.

Pros

• Doesn’t charge excessive fees.
• Volume-based fees. 
• Doesn’t charge any fees for online store software.

Cons

• Limited integrations.
• It charges $199 for its card reader.

To find the best merchant services, consider working with a reputable payments comparison specialist like BestPaymentProviders.com. Best Payment Providers U.S. is committed to offering the most honest snapshot of processors when writing. Best Payment Providers U.S. is focused on terms, complaints, and integration. 

Top Merchant Services for Your eCommerce Business

A merchant account serves as a business bank account connecting with a payment processor, credit card issuer, and the bank so electronic credit and debit card payments can be processed.