7 Best Ecommerce Credit Card Processing Services 2022

Updated August 9 2022
Ailsa Margatte
best ecommerce credit card processing

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What platform offers the best ecommerce credit card processing? Do you want to skip the read and get right to my top pick? The best card processing companies for most people is Square.


Introduction: Meet the best ecommerce credit card processing companies

What are the best ecommerce credit card processing services? What service offers the lowest payment processing fees?

Since the advent of online banking, digital finance has evolved to encompass numerous systems used to transfer monetary funds from buyers to sellers, and later to banks and other financial institutions.

The advent of online shopping and the ability to pay one’s bills and subscriptions through various desktop programmes and mobile applications has expanded the reach of digital finance. But what many take for granted is that these are made possible by systems known as payment processors.

In this guide, we will discuss the best recurring payment processing companies, which offer the lowest payment processing fees and the best ecommerce credit card processing.


What is a Payment Processor?

Payment processors are online systems used to perform digital financial transactions, most commonly those in a business-to-business (B2B) or business-to-consumer (B2C) scenario. These transactions involve a number of payment channels, including credit cards, debit cards, and linked bank accounts.

There are two types of best recurring payment processing tools:

  • Front-end processors are connected to various commercial credit or debit cards, supplying authorisation and settlement services to affiliated merchant banks and their clients; and
  • Back-end processors that accept settlements from these front-end cheap payment processors with the lowest processing fees, then move the money from the issuing entity to the merchant's bank of choice through a regulatory body.

Operations typically take a few seconds wherein the top payment processors check the details received by forwarding the information to the card's issuing bank for verification. Anti-fraud protocols are also performed by the best recurring payment processing services throughout the transaction.


Our List of the Best Card Processing Companies:

Our lineup of the best ecommerce credit card processing services are the top picks from the most common categories. These are as follows:

  1. Square – Best eCommerce credit card processing for stores with in-person and online sales
  2. Helcim – Best eCommerce credit card processing for small businesses processing more than $3,000 per month
  3. PayPal – Best simple solution for small business payment processing
  4. National Processing – Best eCommerce credit card processing for paying month-to-month
  5. Stripe – Best eCommerce credit card processing for online stores
  6. Stax by Fattmerchant – Best card processing companies for large volume transactions
  7. Payment Cloud – Best card processing companies for high-risk maintenance

How We Chose the Best eCommerce Credit Processing Services:

When it comes to selecting the best payment processor or payment gateway, both merchants and financial professionals need to consider the following factors:

How easy is it to set up and integrate into my day-to-day business practices

This comes first and foremost as your time is valuable and should not be wasted trying to figure out a highly complicated payment processing system. Hence, the best payment processors are already pre-formatted and ready to integrate with your webstore and shopping cart. In which case, we recommend that you check the compatibility of your ecommerce platform with the payment gateway you have in mind.

What sort of payments it accepts

Traditional credit cards and debit cards may still be the coin of the realm, so to speak, but other options have become available over the past few years. These include mobile wallets, which have become the preferred mode of payment in most of Asia and in parts of Europe. Mobile wallets only need a password instead of the whole barrage of details required when using a card of either sort.

Pricing

We're looking not only the best ecommerce credit card processing tool that has the lowest payment processing fees. Instead, we judge overall value for money.


Our Best Payment Processors in Detail:

Square

square-homepage

Overview:

While Square is better known as one of the leading payment gateway providers, it also has its own app-driven POS system. Regardless of how large or small your business is, Square is a payment processor that can be customised depending on your industry.

Rates of this best recurring payment processing service are amongst the most reasonable. Moreover, pricing is both fair and transparent and has one of the lowest payment processing fees. Square's free plan is also one of the best free-to-use POS systems, so startups stand to benefit from it.

That said, Square is one of the best card processing companies. It is specifically ya great choice for a broad spectrum of merchants, from service providers to retailers. Likewise, it’s an excellent best ecommerce credit card processing choice for beginners as it is the easiest to set up with the lowest learning curve.

Key Points for Consideration:

  • This best recurring payment processing service requires no contracts or long-term commitments;
  • Payout on Square is done within fifteen minutes of a transaction and the value is deposited into a linked account;
  • Compatible with a wide variety of payment options, including credit and debit cards as well as digital wallets;
  • This best card processing companies option work with a variety of app-driven payment platforms like Google Pay, Apple Pay, and Samsung Pay;
  • 24/7 technical support through multiple options

Pros and Cons:

Pros:
  • Not just the best recurring payment processing service but also offers payroll systems;
  • Has one of the lowest payment processing fees and is affordable – even the free edition has professional features;
  • Extensive range of compatible platforms
Cons:
  • Somewhat generic and doesn’t offer options depending on one’s industry

Pricing:

Offers a highly functional free edition for in-person payments, as well as more specialised options for retail, restaurants, and appointments. For instance, regarding processing fees, Square charges 2.6% plus $0.10 for in-person payments, and 2.9% plus %0.30 per transaction for online payments.

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square-pricing

These are the processing fees for remote payments:

square-pricing-remote-payments

If you like Square, be sure to read up on their service terms before you commit.

>> Sign up with Square <<


Helcim

best-ecommerce-credit-card-processing
helcim-home-page

Overview:

As a payment processor, Helcim is an all-inclusive platform that offers competitive and transparent pricing. Despite its seemingly high cost, it is considered the best choice for the small- and medium-scale enterprise sector.

In terms of payment processing rates, it offers an interchange plus pricing. Its tiered rates are based on monthly processing volume, so the lowest processing rate is set at 0.3% plus $0.08 for in-person payments and 0.5% plus $0.25 for keyed and online payments.

Key Points for Consideration:

  • No contracts involved;
  • Payouts are made within two business days;
  • Accepts both credit and debit cards, ACH, and international money transfer;
  • Payment options include POS, virtual terminal, mobile applications, hosted payment pages, and a payment gateway API; and
  • Customer support via phone (business hours only) and email.

Pros and Cons:

Pros:
  • Offers free invoicing and ecommerce tools;
  • No contracts are involved;
  • Guided chargeback issue resolution;
Cons:
  • No provisions for high-risk merchants;
  • Customer support is not the best in the business;
  • Limited back office integration

Pricing:

  • Software may be downloaded for free, but you will be charged with processing costs;
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helcim-pricing

You can find more information about their service terms before you commit.

>> Sign up with Helcim <<


PayPal

paypal-home-page

Overview:

Now this is one of the best ecommerce credit card processing option that practically everyone is familiar with. Certainluy, it has now become one of the standard modes of payment on many retail sites. However, it is more than that. Over the years, PayPal has enabled the SME sector to accept in-person and online payments.

Even today, its appeal to the ecommerce crowd remains strong thanks to its fixed and transparent processing rates, wide range of integrations, and complete absence of contracts. While its per-transaction fees are somewhat higher than some of its bigger competitors, it is so easy to use, among other things, which makes it one of the cheapest credit card processing for small businesses or those with lower transaction volumes.

Processing rates are as follows:

  • Credit and debit card payments at 2.99% plus $0.49;
  • Digital payments, including PayPal per se, mobile wallets, and cryptocurrencies at 3.49% plus $0.49;
  • Payments Advanced and Payments Pro at 2.29% plus $0.49; and
  • QR payments and PayPal Zettle at 2.29% plus $0.09.

Key Points for Consideration:

  • One of the cheapest credit card processing service;
  • Overall, it has one of the lowest payment processing fees because it is contract-free and charges no penalties or termination fees;
  • Instant payout to PayPal account or transfer to bank account between three and five business days;
  • Compatible with a vast range of ecommerce platforms, online shopping carts, and conventional POS systems;
  • Payment options include its native payment platform, credit and debit cards, and a variety of other mobile wallets;
  • Customer support may be done over the phone (business hours only) or online via its site community and proprietary resolution centre.

Pros and Cons:

Pros:
  • Offers diverse financing options, so this makes it one of the best recurring payment processing service;
  • Extensive options for both online and offline payment;
  • Offers additional support options for merchants
Cons:
  • Not the best in terms of transaction security;
  • While it has some of the lowest payment processing fees, disputes could delay both refunds and payouts;
  • Customer service could be better

Pricing:

  • Standard service is free for this best recurring payment processing service, but commercial processing costs will vary based on the transaction;
best-ecommerce-credit-card-processing
paypal-pricing

Do you think PayPal is the one? Read their service terms to learn more.

>> Signup with PayPal <<


National Processing

best-ecommerce-credit-card-processing
national-processing-home-page

Overview:

There are two reasons why merchants should consider National Processing as their payment processor of choice. First, it offers a variety of benefits, including competitive rates, extensive integrations, and compatibility with some of the most widely-used card readers. Second, it works very well for high-risk businesses, like those engaged in dropshipping or regulated goods like tobacco products and alcoholic beverages.

However, it might not rank as one of the providers with the lowest payment processing fees. Indeed, processing rates for this best recurring payment processing service depend on the plan one signs up for, which will vary depending on your requirements. Likewise, it's a highly competitive option for high-risk businesses, but the contract terms make merchants think twice before signing up.

Key Points for Consideration:

  • Requires a minimum contract of two years;
  • Payout takes between one to two business days, depending on the merchant’s industry and the customer’s credit history;
  • Compatible with SwipeSimple, WooCommerce, BigCommerce, Shopify, Ecwid, and QuickBooks;
  • Payment gateways include its own proprietary platform as well as Authorize.net;
  • 24/7 technical support through multiple options

Pros and Cons:

Pros:
  • This best recurring payment processing service is compatible with multiple payment options and platforms;
  • Offers electronic invoicing so you become more efficient;
  • Offers 24/7 multiple channel technical support so you can get help anytime
Cons:
  • This best ecommerce credit card processing service doesn’t offer technical support outside the United States;
  • High penalties and cancellation fees;
  • Minimal security features

Pricing:

Processing plans for this best ecommerce credit card processing service range across types of transactions. Sadly, there is no free payment processing for small businesses offered.

national-processing-pricing

Read up on their service terms before you sign up.

>> Sign up with National Processing <<


Stripe

stripe-homepage

Overview:

On to our next best card processing companies – Stripe!

One of the most popular payment processing platforms, Stripe, was created for online transactions, particularly those using credit and debit cards. (Hence the name: the magnetic strip at the back of the card.) It accepts the most diverse range of payment options with the lowest payment processing fees. It's also one of the best card processing companies that works the international angle by accepting over 135 global currencies.

While primarily for ecommerce users, Stripe, one of the best card processing companies, also has a way by which it can be used for in-person purchases: the company's proprietary POS product Stripe Terminal.

Fees for online transactions are set at 2.9% plus 30 cents each and an additional 1% for international cards or transactions whenever currency conversion is required. In-person payment rates are at 2.7% plus $0.05.

Key Points for Consideration:

  • Requires no contracts or long-term commitments;
  • Stripe allows users to customise their payout schedules on a daily, weekly, or even monthly basis;
  • Compatible with a wide variety of payment options, including credit and debit cards as well as digital wallets;
  • Works with a variety of extensions and third-party apps including Squarespace, Mailchimp, and Xero;
  • 24/7 technical via email, chat, and phone

Pros and Cons:

Pros:
  • Supports numerous payment options and international currencies;
  • Customisable checkout flow;
  • Has one of the lowest payment processing fees; flat-rate pricing with no hidden fees
Cons:
  • Can be challenging for those without software development experience;
  • Limited functionality for in-person payments

Pricing:

Credit card processing payments will be charged as follows:

stripe-pricing

Do you think Stripe suits your business? Be sure to read their user agreement carefully before committing.

>> Sign up with Stripe <<


Stax by Fattmerchant

stax-homepage

Overview:

Originally known as Fattmerchant, Stax is a payment processor and service provider best known for subscription-based pricing. It also offers no markups on interchange rates, so it's an excellent choice for retailers or businesses that process at least $5,000 in monthly credit card transactions.

Key Points for Consideration:

  • Requires no contracts or additional fees;
  • Offers next-day and same-day payout options;
  • Is compatible with QuickBooks, Xero, Wave, Zoho, Mailchimp, and Hubspot
  • Accepts major credit and debit cards as well as some digital wallets;
  • 24/7 technical support through an electronic ticketing system

Pros and Cons:

Pros:
  • Offers great analytics for its users so you can track your growth;
  • Allows users to create custom payment links for their customers;
  • Great onboarding support so beginners can ease into the platform
Cons:
  • Has a reputation for billing errors;
  • Sub-par after-sales support;
  • Needs invoices for online transactions

Pricing:

Pricing plans for this best ecommerce credit card processing service range from $99.00 to $199.00 monthly.

stax-pricing

Do you want to hit the ground running with Stax? Read their terms carefully.

>> Sign up with Stax <<


PaymentCloud

paymentcloud-homepage

Overview:

PaymentCloud is best known for supporting high-risk businesses who would usually find the doors to more conventional payment processors closed in their faces. Specifically, this processor offers everything from POS solutions to payment gateway services that accept a more comprehensive range of payment options, including cryptocurrencies.

The only drawback we see in PaymentCloud is that its approval process takes a while and charges additional fees every month. Nevertheless, it is a solid choice as a payment processor, and its customer service is top-notch.

Key Points for Consideration:

  • Contracts are dependent on the nature of one’s business;
  • Payout is done within 48 hours of a completed transaction;
  • Compatible with most of the leading payment gateways and shopping cart platforms;
  • Compatible with FreshBooks, QuickBooks, Shopify, and a host of other ecommerce platforms;
  • Offers the best after-sales technical support

Pros and Cons:

Pros:
  • Compatible with the leading ecommerce platforms and payment gateways;
  • Customisable payment gateway for high-risk businesses;
  • Best in show in terms of technical support
Cons:
  • This best card processing companies option charges higher fees on low-risk businesses;
  • Even high-risk businesses have limits on what products they can offer
Pricing:

Monthly payments and transaction rates of this best card processing companies option are based on the nature and magnitude of one’s business.

Be sure to read their service terms carefully before committing.

>> Sign up with PaymentCloud <<


Conclusion and Recommendations: what is the best ecommerce credit card processing service?

Now to wrap up this best ecommerce credit card processing tools guide;

In today’s highly competitive ecommerce field, it pays to have a payment processor that works best with how your business works and the nature and size of your business. To conclude, among the payment processors with the lowest payment processing fees we vetted, we find Helcim to be the best ecommerce credit card processing service.

While we have pegged each payment processor as the best in their respective categories, we recommend that merchants do their due diligence and see which processing solutions will work best with their enterprise.


FAQ:

Which of these best recurring payment processing companies works best for my CBD product business?

If you have a CBD business, you’ll need the best ecommerce credit card processing services that have provisions for high-risk businesses. In which case, you’d best consider PaymentCloud. However, note that costs depend on your business's nature and the scale of your operations.

I just started my online business, so I don’t know how to set things up. Which of these is the easiest to use?

We recommend PayPal, one of the most ubiquitous and best recurring payment processing services. However, if you need a platform that is easy peasy to set up and use, Stripe would be your best bet.


That's all for now:

If you've read all the way through this best ecommerce credit card processing service guide, we are thankful. We hope you can now answer the question of what is the best recurring payment processor for you!  We have a large collection of articles, guides, and comparison reviews of eCommerce solutions, web hosting providers, website builders, and more! Feel free to check them out;

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