There are two major types of merchant service providers. These include:
- Traditional merchant service providers
- All-in-one solutions
All-in-one solutions offer both payment processing and point-of-sale (POS) interface. Thus, they make it easy to manage everything in one place. Such merchant provider is therefore quite relevant for small businesses. Traditional merchant providers, on the other hand, offer more competitive rates for larger processing amounts.
If you’re looking for the best global payment merchant services, then you should consider Powercash21, an online global payment processor that supports a long list of payment methods. The platform also allows merchants to receive payments with the payment methods desired by their clients.
This article outlines some of the best merchant services for all sorts of business. Whether your business is small with low or average transactions, or large and well-established with relatively high transaction rates, this article got you covered.
Below is our top 5 list:
Square, an all-in-one merchant service provider, happens to be the best for small businesses as well as startup companies. With Square, merchants can process all types of payments, be it mobile, online, virtual terminal, or even invoice payments. The platform charges processing fees of 2.75% – 3.5% flat rate and has a very easy to use user interface. Square charges no monthly fees, no setup fees, and no cancellation fees. The amount of processing fees charged depends on how the sale was made.
This platform is a good choice for merchants with large businesses. Unlike Square, Cayan charges account fee monthly as well as a fee for credit card processing on each sold item. The solid merchant service provider provides custom rates and more dedicated customer services. Also, Cayan doesn’t offer online shopping experiences, payment gateways, or its own POS systems. Cayan integrates with other top-rated POS systems.
This merchant service provider allows merchants to accept payments online or even through email requests. It also allows all types of credit cards, record cash, and check sales. It’s similar to Square in that it, too, is an all-in-one solution. PayPal is best suited for merchants who are specifically looking for online merchant services without a dedicated merchant account, since it’s more of a payment service provider than a merchant account provider.
- Chase Merchant Services
Chase is a perfect example of a traditional merchant service provider. Chase Merchant Services is best for businesses looking to work with a traditional bank. Merchants can have Chase as both the processor and the receiving bank. This, therefore, means that the platform provides high transaction speed and security. Chase has entirely quote-based pricing and accepts all major credit cards and debit cards. It also has options for selling in person, online, or via mobile.
- QuickBooks Payments
Using QuickBooks in managing your business sales and finances is the best solution for your business. The platform allows merchants to process mobile payment sales, in-store payments, accepts credit cards, and also receives cash transfers. The platform has simple pricing with two predictable flat-rate plans.