Owning a business in today’s world is impossible without giving people the option of paying with their credit card. And with the huge array of credit cards and payment methods that are available, it can be hard to decide what to choose for credit card processing for small business. Today we are going to look at various services you can use to help you receive payments easier and faster.
Credit Card Processing for Small Business Solutions
1. Dharma Merchant Services
The Dharma services got their name from the concept of dharma. It’s a concept often used in different Eastern religions which can refer to many things, but most of the times it is used when talking about a ‘right way of living’. Maybe related to the meaning, the people at Dharma Merchant Services offer complete solutions for credit card processing for small business. You can use their services and equipment both for an eCommerce and a storefront business, which is great.
People appreciate this solution because they offer great customer support, as well as a transparent pricing structure. The best thing is that they have no undisclosed fees. If you represent a non-profit organization, you can also receive some discounts. On the other hand, one downside for Dharma is that they’re not that good for accounts that have less than $10,000 a month.
2. CDG Commerce
CDG Commerce is a company that was established in 1998, which means it’s good enough to adapt to this fast-changing market. Their pricing offer relies on an interchange-plus structure for the merchants who are already established. They offer monthly plans, so you don’t need to sign any long-term contracts. Moreover, they don’t incur any early termination fees. People reported that they have an excellent customer service and that they love their free virtual terminal or payment gateway. Sadly, it’s available only for the U.S.
Helcim is appreciated for offering a full gamut of services, as well as equipment, both for physical and online businesses. Their fee structure is transparent, and you can analyze it on their official website. Once again, people declared themselves satisfied with the excellent customer support they provide. Moreover, if you own a business that processes more than $2,500 a month, you will enjoy some impressive competitive rates. However, if you don’t have a business that matches the criteria above or you don’t live in the U.S., this might not be a good option for you. Another drawback is the fact that the rates for e-commerce businesses grow for Canadian customers.
4. Payline Data
We can’t go on with our list of solutions for credit card processing for small business without including Payline Data. Just like the other services, they too offer fair prices. The contracts they have are easy to understand, plus they don’t have any hidden fees. People who used it already declared they appreciate the excellent customer service, which includes both phone and email support. One of the advantages that convinces most people is that their service integrates with various mobile wallet services, such as Apple Pay. The only disadvantage is that it’s currently available only in the United States.
The oldest company in the mobile payments and possibly the most popular, Square has its benefits, but also some serious drawbacks. To put it clear right from the start, they don’t offer you a unique Merchant ID number if you have a merchant account and don’t have a 24/7 customer support line. Moreover, there are frequent account holds and terminations with them. On the bright side though, they don’t charge any monthly account fees, and offer free and inexpensive card readers. With Square, you get free access to an impressive array of analytical and business management tools, either on the web or on your smartphone. Furthermore, they don’t seal long-term contracts and have no early termination fees.
Yet another solution for credit card processing for small business is Flagship Merchant Services. To start with the positive aspects, they offer a default pricing model bundles that includes different types of credit cards. They also have the interchange-plus structure, as well as other monthly fees. The best thing about this service is that it offers a large array of ways in which you can accept credit cards as a small business.
Flagship offers 24/7 phone support, besides giving each merchant that works with them a dedicated sales representative. A big drawback though is the fact that they don’t specialize in one type of credit card processing, which is bad for businesses that need it. Moreover, you need to go through quite a long process before you start using their services.
Though not the first service that comes to mind, PayPal can be the perfect idea for credit card processing for small business. Their biggest advantage is the fact that they offer options for a large array of users. Many people love it because it gives them immediate access to their own funds. It’s also great because it offers solutions for charitable fundraising, online businesses, and much more. If you’re looking for a cost-effective option, try PayPal. However, if you’re not a small retailer who mostly has microtransactions of maximum $10, this might not be the solution for you.
8. Cayan Merchant Services
Number 8 on our list is the Cayan Merchant Services company, which has an excellent reputation in the field. Many people gave it a positive review due to its prompt and polite customer service. They offer a great product support, which is why people include them on the list of the best merchant services for small business. Moreover, it’s one of the few processors that list prices for their terminal selection.
To conclude, it’s hard to choose a universal solution for credit card processing for small business. The right choice depends on each owner, how much they are willing to invest in this and what their current needs are. For example, some services are not available in other countries except the U.S., as we mentioned earlier. Others may not be available for small businesses that don’t reach a certain amount of money with their transactions. That’s why it’s important to make an analysis yourself and see which one fits best your needs.
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