- Best Payment Processing Companies
- 1) Stripe – Best for Cost-effective transactions globally
- 2) PayPal – Best for cost-effective international transactions
- 3) Authorize.net – Best for processing E-Checks
- 4) DigiPay – Best for creating automation and minimizing workload
- 5) Verifone – Best for a one-time setup and lifetime usage
- 6) PaySimple – Best for scaling small/medium scale businesses
- 7) Braintree – Best for Security and paying in Crypto
- 8) Payline – Best for Online and Offline Commerce
- 9) WePay – Best for accepting coupons and gift cards
- FAQs
- The Verdict
Selecting a service that can cater to your present and future needs are advisable to select a service that can cater to your present and future needs. Besides, you must look into a service that has minimum transaction fees.
That is why you need to trust some of the best names for payment processing companies. These companies allow you to perform fast international transactions through various payment methods with the minimum possible fees.
Best Payment Processing Companies
| Name | Supported payment methods | Transaction Fees | Countries/Territories supported | Recurring payments | Link |
|---|---|---|---|---|---|
| Stripe | Bank transfers, Bank Redirects, Debit cards/Credit cards, and Digital wallets | 1.9% to 3.5% of each transaction and fixed fee ranging from 5 cents to 49 cents | 135+ | Yes | Learn More |
| Paypal | PayPal balance, Bank transfers and many more | 3% per transaction | 100+ | Yes | Learn More |
| Authorize.net | Debit cards/Credit cards, PayPal, and many more | 9% + 30 cents per transaction | 50+ | Yes | Learn More |
| DigiPay | Credit Cards/Debit Cards | Custom Pricing | 40+ | Yes | Learn More |
| Verifone | Digital wallets, Debit cards/Credit cards, and many more | 3.5% + $0.35 per transaction | 150+ | Yes | Learn More |
1) Stripe – Best for Cost-effective transactions globally
Stripe is one of the most popular payment gateways supporting integrations with many popular services like WordPress, Shopify, and more. It has built-in tools for many popular tech stacks, including PHP, .NET, and iOS. You can use it to perform invoicing for your business purposes.
Stripe is an ideal tool to offer periodic subscriptions to your customers. Besides, it offers many tools and features to manage your finance efficiently. You can use it to manage and calculate various taxes like sales tax. It offers a simple, elegant dashboard that allows you to easily access every tool with minimum effort.
Features:
- Built with the needs of businesses, platforms, and marketplaces alike.
- Lets you build fully customizable workflows
- Robust mobile app for Android and iOS that allows you to monitor and accept payments
- Customer support available in the form of 24×7 email, chat, and phone support
- In-built support for multiple currencies
| Pros | Cons |
| Complete data protection with 256-bit AES encryption | Lacks proper tools and functionality for offline businesses |
| Robust reports to understand various business metrics | |
| Customizable checkout flows |
2) PayPal – Best for cost-effective international transactions
PayPal is one of the oldest and most popular payment processing methods for personal and professional needs. You can use this payment processing company to make international payments with minimum effort. Besides, you can use it to create your online stores, e-commerce, etc. You can build your store with a clickable link that directs your customers to the checkout page.
It provides robust tools that allow you to build subscriptions, create invoices, issue refunds, streamline operations, and more. You can also use this service to accept donations and other payments. It also provides “buy now, pay later” options in select countries.
Features:
- Lets you create custom payment links for your clients
- Allows your customers to opt into recurring payment and subscriptions
- In-house currency conversion service that ensures minimum costs for clients when paying in different currencies
- Responsive customer support through community, live chat, and resolution center
| Pros | Cons |
| Lets clients add a debit card and credit card by default for quick transactions | Relatively slow payment processing times |
| Integrates easily with platforms like WooCommerce | |
| Helps build billing agreements |
3) Authorize.net – Best for processing E-Checks
Authorize is an ideal payment processing company for managing e-commerce, mobile payments, checks, and more. It helps improve sales and minimizes time spent on management. It can also be useful for offline vendors, allowing them to implement payments through physical card readers.
It helps you streamline processes by implementing custom workflows using its huge array of APIs and tools. You can build and print receipts for all financial transactions effortlessly. This payment processing company uses some of the most advanced technologies to ensure complete privacy and data protection for all financial transactions.
Features:
- Allows you to accept phone payments with custom pricings and bills
- Easily build invoices and send them to clients using their Email ID
- Works in more than 100 countries
| Pros | Cons |
| Quickly add a Buy Now or Donate button | Not ideal for direct personal payments |
| Huge array of integrations with third-party services | |
| Robust API works on a wide range of platforms |
4) DigiPay – Best for creating automation and minimizing workload
DigiPay is one of the most reliable payment processors with robust technologies for accepting payments worldwide. It boasts a fraud and chargeback management system that helps you settle any major issues in financial transactions. Besides, this service has an advanced data vault that securely stores customer data allowing quick payment in the future and efficient management of subscriptions.
DigiPay’s solutions are versatile and can be adapted to your use cases. You can use it to accept online, in-store, or on-the-road payments. Its robust End-to-End encryption keeps all your data protected against all security threats.
Features:
- Full-fledged services in more than 40 countries
- It provides marketplace integrations, fraud monitoring, customer analytics, etc., for e-commerce
- Helps reduce overall transaction fees and optimize for profits
| Pros | Cons |
| Interchange optimizer assists in increasing margins and minimizing profit leaks | Lacks standard pricing options |
| Customer support is available through calls, email, and online forms | |
| Their robust, highly-scalable gateway supports real-time processing and fast transactions across various currencies |
5) Verifone – Best for a one-time setup and lifetime usage
Verifone brings some of the most robust solutions for e-commerce and trade. Embracing modern payment methods, it is one of the first to include full support for cryptocurrency. It is meant to be ideal for various use cases, from basic payment links to advanced APIs.
Verifone is an ideal solution for online payments, in-store payments, mobile payments, drive-thru payments, etc. Its robust cloud services can help you deliver consistent branding and experience across all transactions.
Features:
- Create personalized experiences that suit your users and their needs
- Robust device management tools to easily deploy, configure and manage devices
- Global cloud services that integrate with wide range of 3rd party solutions and simply workflow
| Pros | Cons |
| Serves more than 150 countries | Relatively poor customer support |
| Provides pre-built form templates for payments | |
| Native solutions for kiosks and standalone machines |
6) PaySimple – Best for scaling small/medium scale businesses
PaySimple provides intelligent business solutions that allow you to automate payments, minimize workload, and streamline operations. it is one of the best payment processing companies that allows you to effortlessly accept and make payments in a wide range of use cases. It is built with the needs and requirements of various industries like healthcare, fitness, and more.
As a small business, it is one of the best solutions for all your needs. It offers proper support for accepting payments using Credit Cards and other payment methods.
Features:
- Advance billing portal to create and send bills
- API to create integrations and build for custom use cases
- Alerts and notifications for all critical financial activities
| Pros | Cons |
| Complete support for billing | Lacks multi-currency support |
| Robust data analytics and performance insights | |
| Full support for recurring invoicing |
7) Braintree – Best for Security and paying in Crypto
Braintree is one of the best payment processing companies that easily make financial operations and tasks like invoicing, payment reprocessing, refund, and more. It provides in-depth data and insights about your finances and transactions, making it the ideal payment processor.
It maintains a robust database of all transactions, customers, invoices, etc., allowing you to search for any information easily. You can use it to automate your payment processing and reduce the burden on you.
Features
- Unified dashboard allows you to manage all transactions, subscriptions, and refunds in one place
- Global user base and support for multiple currencies.
- Complete data protection and privacy using the Braintree Vault
| Pros | Cons |
| In-built support for split payments | Poor Customer Support service |
| Native support for payment in cryptocurrencies | |
| Quick payment settlements |
8) Payline – Best for Online and Offline Commerce
Payline is an ideal solution for a wide range of business payment processing. It has solutions for online and offline payments that reduce your workload and improve the customer experience. You can utilize its dashboard and terminal to get a quick bird’s eye view of all operations in your business.
You can use it to build shopping cart integrations that allow you to understand user behavior better and improve the interface accordingly. It provides tools for fraud protection, chargeback prevention, and more. It provides a full-featured 1-month trial to help you make up your mind better.
Features:
- Seperate pricing for online and offline transactions
- Works well in various categories like healthcare, non-profit, franchises, and more
| Pros | Cons |
| No charges for PCI compliance | Week multicurrency support. |
| Quick payment deposits within 24hrs | |
| It also provides tools for invoicing and recurring Billings |
9) WePay – Best for accepting coupons and gift cards
WePay provides various tools to ease your work and ensure effortless payment processing. You can use it to enjoy instant onboarding, same-day deposits, and more. Manage transactions, onboarding, chargebacks, and more using WePay’s easy-to-use dashboard.
Flexible payout schemes and quicker direct deposits help you maintain your cash flow better. It helps maintain proper PCI compliance and covers all losses due to fraud.
Features:
- Robust API to perform end-to-end customization of checkout experience
- Provides white labeling solutions to use their tools in custom implementation
- Facilitates all small and large scale payments
| Pros | Cons |
| Backed by JP Morgan | Relatively poor customer support |
| Tailored solutions for all your needs | |
| Extensive knowledge center to help beginners and new business owners better manage their payment processing |
FAQs
What is a Payment Processor?
A payment processor is a mediator between you and your customer that helps customers make safe and secure payments to you using various gateways.
What are the main types of payment processors?
There are 4 types of payment gateways:
- Hosted payment gateway: It directs customers to a third-party service where the entire transaction takes place
- Self-hosted payment gateway: It is a gateway where the transaction happens on your site with all the code and service running on your server
- API-hosted payment gateway: A third-party service provides you API access that connects your server with theirs. For customer, the transaction happens at your server, but at the backend, it is forwarded to the third-party service
- Local bank integration gateway: Customer is redirected to a third-party bank for the transaction, after which they are sent back to the original site.
How to select the best payment processing company?
Here are some of the things that must be considered when trying to select the best payment processing companies:
- Territories: You should always take into account the number of regions where you would operate. An ideal payment processing company should be available in all these regions
- Customer Support: Always look into a service that provides fast and proper customer support and helps you solve all issues in no time
- Price: You should look into all the costs, charges, and various transaction fees to make sure you select a service that is cost-effective and caters to all your needs.
The Verdict
We’ve carefully researched many products and services to bring you these 10 best payment processing companies. Hopefully, these will be good enough for all your needs.
- If you are looking for maximum Global coverage, then Verifone is ideal with its support of more than 135 countries
- In case you want minimum transaction fees in large transactions, then Stripe is ideal for you, as its fees vary from 1.9% to 3.5%
- Besides, PayPal is the overall most balanced service for you
Warm Regards,
Aditya,
Last Seen: Mar 25, 2023 @ 11:09am 11MarUTC aditya.milyin
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