A little Research Goes a Long Way. We’ve Done The Legwork For You.
Finding the right merchant account provider for your business can be a real chore. The credit card processing industry is notorious for having 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 are not 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 will also want to find a provider that can identify your business’ needs and supply a solution that fits your sales environment, your budget, and your customers’ expectations.
Find No Cancellation Fees, Low Rates and Great Support
Below we’ve compiled a list of the best merchant account providers in the United States and Canada. The companies in this list are able to supply industry-leading products and services serving 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 your business 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.
Our Picks Below
We’ve done a lot of research to narrow down the best processors based on need, industry, features and cost. The top of the list begins with generalized picks that will work for most businesses and then we get more specific as we go along. You may see some of the same picks repeated more than once. This is because the best providers often serve a wide array of needs and industries. Our goal with this list is to make your life as a business owner easier and we welcome your feedback in the comment section at the bottom of the page.
U.S. Businesses Processing Over $100,000/yr
Best For:
- Retail (Single & Multiple Locations)
- Healthcare & Wellness (See “High-Risk” below for supplements, nootropics, nutraceuticals, CBD, etc)
- Professional Services
- Field Services
- Mobile
- Invoicing
- Food & Beverage
- Enterprise
- Software Developers & E-Commerce
Why Fattmerchant Is Our Top Pick
Active since early 2014, Fattmerchant is a great choice for most business types due to its broad array of services and equipment. The company, however, does not serve businesses deemed as “high-risk” according to the merchant services industry (see our pick below for “high-risk” processing). This may be disappointing to some business owners, but by not accepting “high-risk” accounts, Fattmerchant can offer rock-bottom rates to more traditional businesses.
Fattmerchant is a leading the merchant account industry toward flat-rate, subscription-style pricing, which is the most cost effective and most transparent rate and fee structure for credit card processing in our expert opinion. 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 “5-Star” rating on CPO and an “A+” rating with the Better Business Bureau.
How To Contact Fattmerchant
For more information, visit the Fattmerchant website, or call (866) 397-9826.
U.S. Businesses Processing Less Than $100K/yr
Best For:
- Mobile
- Retail
- Scheduling & Appointments
- Invoicing
- E-Commerce
- Food & Beverage
Why Square Is Great For Low Volume and New Businesses
Square Offers Ease And Flexibility
Square has the easiest signup process of any credit card processing provider in the industry. There is no credit check or underwriting process. Simply fill out a short form, pay for a card reader attachment (aka: dongle) and you are all set you begin accepting payments from customers. Is your business online? Square has services for e-commerce needs as well. There are no monthly fees, minimum processing requirements or cancellation fees. You only pay processing fees when you accept payments.
The only drawbacks to Square is its customers support, which is often cited as a pain-point for business owners experiencing problems. In our opinion, the tradeoff is justified until a business begins processing $10,000 or more per month at which time we recommend switching to one of the traditional processing companies in this list of providers.
Beware Funding Holds
Before signing up with Square, we highly recommend reading Square’s prohibited industries list (found at the end of this article) as running afoul with this policy can cause a business owner a great degree of grief and frustration.
How to Contact Square
Simply visit the Square Website to get more information or to start an application.
“High-Risk” Payment Processing
Best For:
Quick Approvals For Most 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.”
How To Contact PaymentCloud
For more information, visit the PaymentCloud website or call (888) 506-7859.
International & Cross-Border Payments
eMerchant Broker
- Serves Numerous Countries
- Facilitates Cross-Border Payments
- Highly Rated Support
Best For:
- International business doing business within the U.S. or Canada
- Multi-national organizations
- “High-risk” offshore processing
- International e-commerce
- International Travel and Tourism
Payments Without Borders
eMerchant Broker has remained one of our top recommendations for international and cross-border credit card processing for several years. In addition to facilitating payments across the globe, the company can also approve numerous “high-risk” domestic and international business types. If you are having trouble getting a merchant account eMerchant Broker may be your best and only option to get the services you need.
Contact eMerchant Broker
For more information visit eMerchant Brokers website or call +1 (877) 301-3442
Canadian Merchant Account Providers
Best Suited For:
- Automotive
- Mobile
- Beauty & Wellness
- Contractors
- Healthcare
- Invoices
- Food & Beverage
- Online Sellers
- Professional Services
- Retailers
- Software & Apps
- Wholesalers
A No-Brainer For Canadian Credit Card Processing
Helcim has consistently ranked as our top Canadian merchant account providers for nearly a decade running. The company is technology forward and focused on customer experience. In addition to offering hardware and services tailored to a wide array of common industries, the company offers a flexible virtual terminal, online store builder, e-commerce tools, and invoicing tools. Helcim offer some of the lowest and most transparent pricing found in the industry.
Contact Helcim
Simiply visit Helcim’s website for more information or to start an application.
All-In-One E-Commerce Store & Payments
Shopify
- Simple but feature rich
- Excellent for novice to advanced users
- Seamless customer experience
Best Suited For:
- Online Retail
- Online Wholesale
- Subscription & Recurring Payment Plans
- Facebook & Instagram Integration
- eBay, Amazon, and Walmart Marketplace Integration
- Appointment-based Services
Bring Your Business Online Quickly
Gone are the days of hiring expensive web developers to build an e-commerce store for your business or idea. Shopify ranks as our top pick for creating professional online stores quickly and at just a fraction of the cost of custom web development. This service can be used for the simple sale of a single product via easy-to-create “Buy Now” buttons all the way up to selling thousands of products requiring enterprise level software integrations.
Flexible Payments
Shopify can integrate with various merchant account providers for established businesses that are already accepting credit cards in-person, or you can quickly start accepting payments through the company’s own “Shopify Payments” platform, which integrates seamlessly. Shopify Payments is also available to businesses outside the United States including Australia, Austria, Canada, Denmark, Germany, Hong Kong SAR, Ireland, Italy, Japan, The Netherlands, Belgium, New Zealand, Singapore, Spain, Sweden, and the United Kingdom.
Getting Started with Shopify
Top PayPal Alternatives
Square Makes The Cut Again
How To Get Started With Square
Simply visit the Square Website to get more information or to start an application.
Other Square Alternatives You May Want To Consider
Additional Merchant Account Options
The options below are listed to provide a broader view of the industry and should be considered only if the above options are not ideal for your situation.
Host Merchant Services
- Accepts Both "High-Risk" and Standard Business Types
- Long-Standing Service Provider
- Excellent Customer Support
From Web Hosting To Payment Processing
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+.” For more information, visit the Host Merchant Services website or call (888) 727-4538.
Card Z3N
Rating: Excellent | Our Review | Visit Their Website | (702) 623-3528 Supporting Holistic Support for Merchant of All Shapes and Sizes Card Z3N offers and abundance of options that are tailored to merchants across different industries regardless of their size, level of risk, or specific needs. The company’s Z3N Gateway acts as the fulcrum for e-commerce merchants. Card Z3N also offers unique merchant services for in-store transactions for small to mid-sized businesses, B2B/B2G focused transactions, and enterprise level merchants. Card Z3N’s other services include ACH payment processing, mobile POS, and recurring billing services that meet different facets of any merchant’s needs. About Card Z3N Based out of Las Vegas, Nevada, Card Z3N holds the distinction of serving both standard and high risk merchant types. Card Z3N’s expertise in serving high risk merchants allows them to offer competitive rates, even to start-ups. The company also provides discounted rates to merchant processing over $100,000 per month for well-established larger scale businesses. In addition to facilitating payment processing, Card Z3N also provides merchants with simplified online payroll services. Card Z3N offers merchants with phone support, a live chat feature, and a troubleshooting ticket form to instigate a customer service request. Card Z3N currently has an “A” rating with the BBB and has fewer than 10 complaints online. For more information, visit the Card Z3N website.
National Processing
Rating: Excellent | Our Review | Visit Their Website | (800) 803-4592ACH Processing Specialists
Based in Lindon, Utah, National Processing offers straightforward merchant account contract terms and specializes in ACH payment processing which is ideal for B2B businesses that process high-ticket sales. The company primarily offers transparent pricing via an interchange-plus program or a zero-fee program.National Processing Reviews
National Processing has a great reputation with only one complaint lodged in the last three years. Even so, the complaint is not of a serious nature and has not been factored into our rating of the company. Our independent assessment finds National Processing to be a solid choice for most businesses.
Payment Depot
Rating: Excellent | Our Review | Visit Their Website | (877) 876-8776Membership-Style Pricing
Based in Orange, California, Payment Depot is a versatile payment processor for all standard-risk merchant types. The company was founded in 2013 and offers Clover POS products, a virtual terminal, mobile phone processing, an Authorize.net payment gateway, and chargeback monitoring. Payment Depot is a pioneer of membership-style pricing, which offers transparent wholesale transaction rates (with no markups) in exchange for a fixed monthly fee.Payment Depot Reviews
Payment Depot offers multiple pricing plans depending on merchant volume and does not charge any equipment lease fees, PCI compliance fees, or termination fees. Payment Depot also offers next day funding to most business types. Payment Depot has earned an “A” rating in our review as well as an “A+” rating with the BBB.
Centurion Payment Services
Rating: Excellent | Our Review | Visit Their Website | (561) 221-2273Payment Processing For Any Business
Founded in 2012, Centurion Payment Services is a Miami, Florida-based merchant account provider that serves both standard and high risk businesses as well as a free SEO program for online merchants wishing to improve their online search presence. Centurion Payment Services offers an online payment gateway and virtual terminal as well as EMV-compliant payment processing equipment for face-to-face purchases. The company offers 24/7 customer support and free equipment setup for all merchants.Centurion CBD Pricing
Centurion currently offers CBD merchants a per-transaction fee of 6.95% plus $0.30 and a monthly fee of $35. The company does not charge a setup fee or impose processing limits, and it does not require a cash reserve in many cases. Centurion can serve merchants who sell CBD vape products, but not those who sell CBD flower or pre-rolled products. Centurion’s CBD e-commerce solution can be used with popular platforms like Shopify and WooCommerce.Centurion Payment Services Reviews
Centurion has not received any public complaints for the entire time that it has been operational. The company claims to offer interchange-plus pricing, no reserve, single-day approval, no PCI compliance fees, and no start up fees. The BBB does not assign a rating rating to Centurion Payment Services, while CPO gives the company an “A.”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.</strong
