The Best Credit Card Processing Companies
for Small Businesses

December 15, 2018

December 15, 2018

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The credit card processor you choose for your small business can have a huge impact on every aspect of your business. Use this guide to ensure you are choosing a processor that is right for your needs. Read it now!

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When choosing a processing company, you should customized as much as possible.

A world-class credit card processing company can make all the difference for a small business, but there is no single best credit card processing company out there. There is only the best processing company for you.

It will help to sit down with a detailed checklist that can help you compare all options. Take your time. Many small businesses jump on the first company they see. That can be a costly mistake.

Finding the Right Company

A full-service credit card processor should have a contract that is fair, reliable, and efficient based on market standards. They shouldn’t include any unnecessary fees or hidden costs.

These are the standards all processing companies should uphold, but things get a little more specific after that. When choosing a company, you should think about the variation between tiered rates and interchange-plus. This will make it easier to pinpoint which pricing model will work for you. You should look for companies that can seamlessly incorporate multiple parties and provide both efficiency and compatibility. You want places that aren’t going to waste time on using incorrect solutions or offering useless services with high fees.

Make sure that the company you are researching includes all pricing estimates during the initial consultation. Think about whether your business relies on in-store payments or card-not-resent transactions. By communicating clearly with the company representative, you can find the best solution together.

Some of the biggest names in the industry offer their services to small businesses. This can be a good solution for many, but name isn’t everything. Here’s a list of things to pay attention to when picking a company.


Look for fair, competitive rates that are in-line with the rest of the business. Focus on the pricing model and make sure your business can accept credit cards without unwanted rate increases, PCI-compliance issues, and hidden fees. Feel free to ask a specialist about the best processing company and what it can offer with regards to merchant services.


The best companies are going to provide a wonderful array of merchant services for small businesses. These services are going to include basic and advanced features for processing needs.

Think about which cards the company accepts. Nothing hurts more than having to deny a purchase because your business doesn’t take American Express or Discover.

Also investigate PCI-compliance and how secure the processing is once the card is used. This is doubly important with mobile credit card processing. The card-readers should also all be EMV-compliant.

Make sure the company you choose also has a 24/7 support line for all the strange things that can happen after business hours.

Top Equipment

Whether it is the digital wallet, transaction fees, or POS systems, you need the right equipment!

It starts with a mobile card reader. This can be affordable, efficient, and in-line with what the small business needs. However, it is best to look at how the card-reader is going to work and the type of interchange fees it will have to offer. Many of these readers can be set up with a simple app on your device.

In other scenarios, you may loot into setting up wireless terminals with countertop credit card readers that can print out receipts at the tap of a button. These are wireless and can run using WIFI. This is perfect for customers on the go.

The final solution would be a POS system. This is an elite option for small businesses. A good system will integrate with the other payment options while ensuring everything is safe, efficient, and compliant. These can also work with mobile card readers to accept mobile credit cards.

No Hidden Fees

Each payment is going to come with a small fee. These are standard. However, a good company isn’t going to charge an arm and a leg for the processing. It will be in line with industry standards. It will not incorporate the use of membership fees, cancellation fees, and other hidden costs no one wants.

Understand what you want and what you need. Make sure it is in the contractual agreement. The best companies already make sure to do this!

Fair Term

Whether it is for an e-commerce solution or to simply manage credit card payments, it’s best to look at the contractual term. There are multiple directions businesses can go. Some focus on multi-year contracts. Others push for monthly setups. Businesses want to keep things simple for their customers and that means having a detailed agreement in place.

Processing Rates

These rates are a part of accepting card payments. From debit cards to credit cards, there is a percentage that is used as a transaction fee. This is going to vary from solution to solution but is generally in the 2-4% range. Please note, this is going to depend on how many payments are accepted, how large the business is, and the merchant’s processing history.

The industry has been around for a long time and pushes itself to be as competitive as possible. Customers are walking through the front door expecting businesses to accept their cards. Business owners have to stay on top of this. If not, the payments will start to become a hassle and many customers will stay away! This is why businesses are now looking into quality merchant services with competitive fees, fair features, and a negotiable contract.

The rates are going to include an interchange fee, which is non-negotiable as determined by the network. This is going to be the same for every processor. Rates also depend on the acceptance method, ticket amount, card type, and which industry the small business is in.

Another non-negotiable cost would be the assessment fees, which also is paid by the processor.

However, a good company is going to make sure to reduce the markup and make sure it is as fair as possible for merchants. Remember, if the interchange is dropped, this is often a sign of deception as that is a set fee.

With pricing, it is best to pour through the interchange rates and determine what the costs will be. This should be done in advance before deciding. It’s also best to think about the various fees and make sure everything is streamlined.

The best credit card processing companies for small business will offer an all-encompassing solution based on a client’s requirements. It’s best to sit down and pinpoint what needs to be done before moving forward with an established solution!

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