Retailers must accept debit and credit cards now that electronic transactions have replaced cash as the primary payment method. When we rated and ranked the best merchant account services, Flagship Merchant Services, CreditCardProcessing.com and Leaders Merchant Services emerged as winners. We also created informative articles on merchant account services. These providers let you accept credit and debit cards as well as electronic payments, paper checks, money orders and traveler's checks. Some allow you to turn your smartphone or tablet into a mobile cash register so you can take payments from anywhere within cell-phone coverage. As with any business venture, there are risks to accepting digital payments. Criminals and con artists can counterfeit digital payments or steal other people's payment information. Fortunately, the best services have secure processing procedures and fraud protection.
Although the actual payment processing is similar across all merchant account services, the best providers have high approval ratings, get your account up and running quickly, and charge low start-up and monthly fees. The best also provide great customer service and offer various credit card readers. It takes a combination of all of these features to stand out in the marketplace.
Average Approval Rating
The approval rating for online merchant account services is the percentage of applications a company approves. The higher a service's approval rating, the higher the chances of getting an account. This is a useful number to know, especially if the service charges an application fee.
Cost per Month
The best merchant account services offer low monthly service fees as well as low per-transaction costs.
Merchant account services that make it too expensive to start accepting payments shouldn't warrant consideration. Some services cost as much as $300 before you can even accept a dime in payments. The best services charge you nothing to set up an account.
Account Set-up Time
The best companies turn your application around within a day or two. Other services can take up to a week.
Allowing a company to handle your payments involves trust. If a company does not have good customer service, it doesn't deserve your business.
Many companies are moving to a primarily online business model, which is why we look carefully at virtual terminals and gateways.
POS Swiper Features
Brick-and-mortar stores are not going away. You will always be able to walk into a store to buy goods or services. The best merchant account services provide options in terms of point-of-sale hardware for your physical retail outlet. They also equip you to take payments from mobile devices.
Our review describes the best available merchant services so that you can review each one in terms of how quickly they approve applications, how much it will cost to get started and what it will cost to maintain an account. Furthermore, we orient you to available hardware and software features, along with customer service details. Choose the right merchant services provider in order to capture many different types of transactions and do so without paying too much for processing.