Top 6 Credit Card Processing Services Every Small Business Owner Should Know About

Credit cards have become the most common means of payment for transactions as they have eliminated the need for carrying cash and simplified online transactions. Setting up your business online has never been easier but selecting the methods by which you will accept payment can be a little more complicated; you will need to be aware of services that allow you keep track of your credit card transactions. Here are some processing services you need to know about.

  1. Square

This is ideal for businesses all around the world, as one of its features includes same day deposits. Square builds its credit card processing services to suit your business irrespective of your industry. The benefits of this service include outstanding hardware and abundant back-office features. There are no monthly charges and suppliers can pay by card with the free invoicing software.

  1. Stripe

Stripe single click payments are used for a variety of online businesses including mobile commerce and subscription payments. It accepts more than 135 currencies and integrates with Expensify, Shopify and GoDaddy. There is a fee of 1.4% plus 20p for transactions of European credit and debit cards. It also saves customer card details so they can pay with a single click.

  1. Worldpay

This is a leading merchant service provider dedicated to the UK. It provides fraud screening, reporting tools and recurrent payment subscriptions. It is ideal for business with international customers. Worldplay handles 42% of UK card payments and accepts payment from users of Paypal and non-users alike.

  1. PayPal

By far the most recognised credit card processor, PayPal is used by a large number of businesses worldwide. It now offers its own mobile credit card machine known as PayPal Here. Customers do not have to enter their card details every time they shop on your site and for a monthly fee of £24 you can access PayPal Payments Pro.

  1. Intuit QuickBooks Payment

This is a credit card processing service ideal for businesses already in the Intuit system. It provides automatic bookkeeping, invoice management and efficient services for business of all sizes. There are no monthly fees but other fees vary with the type of service requested. It helps you to manage your business transactions and finances efficiently and connects easily to other accounting software. There are also a number credit cards you can use which come with apps which will track your outgoings, even making spending forecasts for the month for you, which will make bookkeeping even simpler.

  1. Sage Pay

This is the payment division of the company Sage. It accepts payments in over 25 currencies and it provides a range of payment services for in-person, online, via invoice or over the phone transactions. Some of its features include a single click checkout, fraud screening, integration into Sage Accounts, portable card machines, linking with your e-commerce website and many more.

Accepting and processing credit card payments is quite complicated.  This is partly due to the fact that numerous parties are involved, and because of this, it is important for every business owner to be aware of the options available, and research the credit card processing service(s) most suitable for their business.

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