What to Know Before Getting Started
Before You Switch Merchant Account Providers
Changing merchant accounts can be a major pain in the neck. If you have an existing business and are just looking to save money on fees, save yourself the headache of switching by getting your fees negotiated by a professional.
We’ve Made It Easy For You
Finding the right merchant account provider for your business can be a real chore. The credit card processing industry is notorious for hidden fees, deceptive sales tactics, and unsavory contract terms that penalize business owners who do not take the time to educate themselves before shopping. Even if you are wise enough to read through your contract before signing, you might find that you’ve accidentally purchased the wrong equipment or that the rates you pay aren’t as competitive as you thought they were. Arming yourself with knowledge is the first step to getting a good deal, but it isn’t the only step. You’ll also want to find a provider that can identify your business’s needs and supply a solution that fits your sales environment, your budget, and your customers’ expectations.
No Cancellation Fees, Low Rates, Great Support
Below we’ve compiled the following list of the best all-purpose merchant account providers in the United States (Related: Best Canadian). The companies in this list are able to supply industry-leading products and services for a wide range of business sizes and types. More importantly, though, these providers are some of the best processors that CPO has reviewed when it comes to transparent pricing, positive merchant feedback, and helpful customer service. In short, you can expect these providers to understand your business’s needs and provide the appropriate solution for a fair price. You don’t have to take our word for it, though. We encourage you to contact multiple companies on this list and compare their pricing and services in order to get the best deal for your business.
Related Post: How One Merchant Saved Thousands Without Switching, With A Single Phone Call
Why We Chose These Merchant Account Providers
Best Overall Option
Active since early 2014, Fattmerchant is a merchant account provider leading the industry’s move toward flat-rate, subscription-style pricing. The company’s products and services include EMV-compatible countertop terminals, a virtual terminal, an online payment gateway, an online shopping cart, mobile phone processing, QuickBooks integration, online invoicing, and recurring billing. Fattmerchant is capable of serving all standard-risk retail, mobile, and e-commerce business types.
Fattmerchant offers multiple pricing plans with different rates, but all of its plans charge a fixed monthly fee and a fixed per-transaction dollar amount above interchange. In other words, none of Fattmerchant’s plans charge a percentage-based fee on each transaction, meaning that merchants will not pay more to process a large transaction than they will a small transaction. Fattmerchant currently has an “A” rating on CPO and an “A+” rating with the Better Business Bureau.
Host Merchant Services
Host Merchant Services is a Newark, Delaware-based merchant account provider that is well-suited for most general business types and some high risk merchants. The company’s products and services include point-of-sale solutions (with specific packages for the restaurant, salon, professional service, and contractor sectors), online marketing tools, an online payment gateway and virtual terminal, mobile credit card processing, gift and loyalty programs, merchant cash advance, and offshore merchant accounts. Host Merchant Services specializes in e-commerce businesses and provides a free website and email address to new merchants who require them.
Host Merchant Services Pricing
Host Merchant Services has received only positive feedback on public forums, with most reviewers singling out the company’s customer service for praise. Host offers interchange-plus pricing with no early termination fees to all of its merchants, meaning that users will enjoy the most transparent pricing model and can cancel service without penalty. The BBB gives Host an “A+” rating, and CPO also gives the company an “A+.”
Accepts All Business Types
Based in Woodland Hills, California, PaymentCloud is a merchant account provider that specializes in serving businesses of nearly any type. This includes “high-risk” industries such as CBD and Kratom businesses. The company’s products and services include point-of-sale solutions, mobile phone swipers, an online payment gateway and virtual terminal, EMV-compatible terminals, and merchant cash advances. PaymentCloud provides a dedicated account rep to all new merchants for the life of the account.
Custom Pricing Plans
The company has not received any negative complaints on consumer forums, and it customizes its pricing according to each merchant’s business type and processing history. The BBB does not maintain a profile for PaymentCloud at this time, but CPO gives the company an “A.”
Secondary Merchant Account Options
Located in Chesapeake, Virginia, CDG Commerce is a great option for standard-risk merchants of all sizes and types. CDG has been privately owned since 1998 and offers a proprietary payment gateway (as well as a discount on Authorize.Net’s payment gateway), a virtual terminal, QuickBooks integration, mobile phone processing, sales reporting, security breach protection, and vulnerability scanning. CDG Commerce is ideal for businesses that require a simple, low-cost, integrated retail or online processing solution.
CDG Commerce only charges a low, fixed fee per transaction and offers competitive contractual terms, including no annual fees, monthly minimums, or termination fees. CDG also offers next day funding to most business types. CDG has earned an “A+” rating in our review as well as an “A+” rating with the BBB.
Headquartered in Chicago, Illinois, Payline Data has consistently rated as one of the best merchant account providers on CPO since we first reviewed the company. Payline is capable of serving merchants of all sizes and types, including some high risk business industries. The company offers traditional retail credit card terminals, mobile phone credit card processing, an online payment gateway and virtual terminal, QuickBooks integration, third-party shopping cart integration, API integration, and various point-of-sale solutions. Payline Data is a great option for almost any business size, from small, single-register merchants to large, enterprise-level organizations.
In addition to its wide array of services, Payline Data offers interchange-plus pricing with month-to-month contracts and no early termination fees. As a result, the company enjoys a large number of positive testimonials from its clients on this website and in other consumer protection forums. The Better Business Bureau currently assigns Payline Data an “A+” rating, and CPO also gives Payline an “A+.”
Dharma Merchant Services
Based in San Francisco, California, Dharma Merchant Services is a highly rated merchant account provider that places a corporate emphasis on social consciousness and community outreach. The company’s products and services include countertop terminals, a tablet-based POS system (via a partnership with ShopKeep), mobile device payment processing, an online payment gateway (Authorize.Net), QuickBooks integration, small business financing, and custom fundraising pages for non-profits. The company extends special pricing to non-profit organizations and donates a percentage of its profits to non-profits of its choosing every year. Dharma is best suited for merchants who process over $10,000 per month.
Dharma scores highly in our review and elsewhere due to its positively reviewed customer service, transparent marketing practices, competitive interchange-plus rates, and fair service agreements. The BBB currently assigns a rating of “A+” for Dharma Merchant Services, while CardPaymentOptions.com also gives the company an “A+.”
Transparent Merchant Services
Transparent Merchant Services is a Scottsdale, Arizona-based merchant account provider that offers a unique, membership-style pricing model. Rather than charging a percentage of each transaction, Transparent charges a small, flat fee above interchange on all transactions in addition to a fixed monthly membership fee. This makes Transparent remarkably affordable for merchants that process a low number of large-ticket transactions. It also keeps the company’s pricing predictable and transparent from month to month. Transparent Merchant Services serves retail, mobile, and e-commerce business types.
Transparent has received exclusively positive public feedback since it opened in 2008 and offers month-to-month agreements with no early termination fees. Transparent provides its merchants with live phone support during business hours as well as chat support and email support. Our review of Transparent gives the company an “A” rating, while the BBB gives Transparent an “A+” rating.
If your business offers quality merchant services at a fair, transparent price, please leave a comment in the comment section below or contact us through our contact page in order to get listed in this article.