Contributed By:
Guest Writer
Founder of Launch
& Hustle and Digital Marketing Consultant Specializing in Social Media
& Mobile Marketing
Source: Entrepreneur
I’ve worked with many payment companies over the past 10+ years. I’ve learned that not every payment company is created equal. For that reason, I’ve compiled a list of 25 payment tools to consider for your business. These options will expand the number of payment methods you can accept which will attract more clients, facilitate faster payment, and ensure a secure environment for both parties during every transaction you make.
1. Due
Due is a payments solution
company that offers credit card processing and international credit card
processing. You get a low flat-rate transaction fee of 2.7 percent for
credit card processing, including global
credit card payments. It features a digital wallet tool as well as the
ability to handle ACH payments. The company has integrated PayPal and Stripe
for further payment options. Due also offers time tracking and online
invoicing.
2. PayPal
PayPal has become one of the most
trusted payment platforms online. It was one of the first that provided
freelancers with a way to accept credit card and debit card payments without
having to partner with a credit card processing company and face high monthly
and transaction fees. Over time, PayPal has evolved into offering personal and
business accounts, its own debit and credit card, a revolving credit line
and business loans. It allows you to accept payment in foreign currency
and then handles the currency exchange process for you for a minimal fee. Now,
PayPal is beginning to accept Bitcoin so that you can make and accept
cryptocurrency payments.Related: The 15 Most Popular Online Payment Solutions
3. Braintree
As part of PayPal, this company has
bolstered the company’s payments expertise and provided more options for you to
pass onto your customers -- like Venmo, Apple Pay, Android Pay,
Bitcoin and debit and credit cards. There are no extra fees, including no
fees for refunds, inactivity or failed transactions. You only pay for
those transactions you actually carry out. After your first $50,000 in
transactions, you will pay as little
as 2.9 percent + $.30 per transaction.
4. Dwolla
Dwolla is a developer-friendly
payments system that lets you customize how you make and receive recurring,
bulk or single payments. Offering a free account with no transaction fees,
it only links to a U.S. bank account or credit union account. There is no fee
to set up your account, plus there are no transaction fees. However, Dwolla is
strictly made for making payments within the U.S.
5. Authorize.net
Authorize.net is a payments
gateway that offers domestic and some international transactions for small to
medium-sized businesses. You can accept all major credit cards, signature debit
cards, echecks and digital payment options like
Apple Pay, PayPal and Visa Checkout. Other features include automated recurring
billing, a free suite of security and fraud prevention tools and the
ability to synch with your Quickbooks. Although there are no annual renewal or
hidden fees involved, there are some other fees to consider. There’s a $49
set-up fee, $25 per month gateway fee, and 2.9 percent plus $0.30 per
transaction.
6. 2Checkout
2Checkout focuses on global
payment acceptance, providing you with a secure and compliant gateway to do
business in nearly every country around the world. It offers both online and
mobile platforms for payments, including numerous language and currency
options, recurring billing, hosted checkout and fraud protection. You can
accept all major credit and debit cards as well as PayPal, and then get paid by
bank or wire transfer. Transactions are 2.9 percent plus $0.30 per
transaction. While there are no set-up or monthly fees, you will have fees like
an extra 1 percent added on to each transaction from outside of the U.S.,
2-5 percent charge above daily bank rate on currency conversion and a
$20 charge back fee.
7. Square
Square is a credit card
processing company that provides a way for small businesses like yours to
accept credit cards without carrying the burden of all those fees that
typically get added in by other credit card processors. You will be able to
accept credit cards anywhere and process gift cards with their free magstripe
reader that works with the Square app on smartphones and tablets. Features
include fraud protection and deposits on demand with payments received in your
bank account in one to two business days. You only pay per transaction with no
set-up or monthly fees. The fee is 2.75 percent per swipe for all major credit
cards.
8. Stripe
Stripe was built for developers
to create custom payment solutions, but it can also be used in its basic form.
Even as a standardized payment platform, it is packed with features like
integrated mobile payments for iOS and Android, checkout, the ability to add
coupons and recurring billing. As a global payment option, it works with
over 100 currencies, as well as Bitcoin and local payment instruments like
Alipay. You can also accept digital payment services like Apple Pay, Android
Pay and AmEx Express Checkout.
9. Wepay
Wepay is an online payments
processing platform that is completely customizable. Its standard payments
solution is fully integrated into your business, offers fraud prevention and
fraud detection tools, direct bank transfer, recurring payments and multi-party
payments, all major credit cards and ACH payments. Credit card processing fees
are 2.9 percent plus $0.30 per transaction while ACH payment processing is
1 percent plus $0.30 per transaction. Charge backs are $15.Related: 5 Features to Look For While Selecting the Right E-Payment Model
10. Popmoney
Popmoney is a way to send,
request and receive money within the U.S. from bank account to bank account or
debit card. It has a limited amount of daily and monthly funds that can be sent
and received, making this ideal for smaller sized transactions. This highly
secure payment solution is ideal for collecting money from groups or for
recurring payments. With a debit card, you can receive the funds in as little
as one business day while a bank account may take up to three business days.
There is one small fee of $0.95 for each transaction, making this a low-cost
payment option.
11. Heartland
Payment Systems
Although they do not list their
pricing, they are known to be a competitively priced payment processing
provider that focuses on service, security and transparent processes. They
promise no fees and next-day funding on a wide range of payments, including
major credit and debit cards, EMV, gift cards, PayPal, Apple Pay, Samsung Pay
and Android Pay. They offer payment processing on any type of device and focus
on EMV, tokenization and end-to-end encryption to deliver one of the most
robust security solutions for card processing. They have other services for
businesses, including payroll, POS, loyalty programs, ecommerce and billing
solutions, mobile payments, gift cards and more.
12. Cybersource
Cybersource is an online payment
processing company that offers a wide array of services, including gateway and
processing connections, digital wallet and digital payments, debit and bank
transfers, payer authentication, payments security, global tax calculation and
more. It allows you to take and make payments in 190 countries and 40
currencies across all major and local payment cards as well as Alipay, PayPal,
Visa Checkout, PayEase, Apple Pay and Android Pay. It does not list pricing but
instead offers a custom program for businesses of all sizes.
13. Digital
River
Digital River is positioned as a
true global payment processing company, working in 190 countries, including
many emerging countries like China and India, as well as in 170 transaction and
display currencies. It offers local and global card processing as well as
transactions with retail and Internet banks. Its pricing is available by
contacting the online payment processing company and working with them to
develop a customized program for your business.
14. ecoPayz
ecoPayz offers personal,
business and merchant global payment processing services that do not
require any recipient bank accounts. This is because this payments solution
uses its own branded ecoCards that have a Visa or Mastercard logo and work as
payment cards for transactions in 45 currencies. There is instant funding and
free set-up for an ecoAccount that uses these virtual payment cards.
15. Creditcall
Creditcall links to all U.S.
processors and UK acquirers, offering online and mobile payments for your
business. It uses an EMV-ready payment gateway and virtual terminal to keep
your transaction costs low. Creditcall allows you to customize your hosted
payment page to seamlessly integrate it into your existing website.
16. Elavon
Converge
Elavon Converge offers a number
of services, including a solution for small businesses. With an online and mobile
option, Elavon Converge provides a way to process credit cards, debit cards,
electronic gift cards, electronic checks, Electronic Benefit Transfer (EBT) and
mobile wallets like Apple Pay. The payment processing provider is also
preparing its customers for the EMV transition. Pricing is also available by
calling the company to get a customized payment processing program that fits
your small business.
17. Neteller
Neteller is a global payment
processing company that helps businesses work with customers in 200 countries
and across 15 languages. You will be able to accept a wide array of credit and
debit cards and local payment options, including cryptocurrency like Bitcoin.
Along with many deposit options, Neteller offers businesses instant payouts on
these transactions.Related: 4 Tips for Revving Up Revenue When You Need It The Most
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