HomeAboutCredit Card ProcessingOnline Payment ProcessingMobile Payment ProcessingSmall Business LoansMerchant Cash AdvanceSmall Business LoansMerchant Cash AdvanceMobile Processing AppsCredit Card Processing AppsOnline Payment Processing AppsContact
payment processing for small business
Payment Processing

Payment Processing for Small Businesses: Top 7 Providers

Below are the seven most popular options of payment processing for small business owners who want to enable online payment transactions.

Cambry Nelson
7 months, 2 weeks ago

If you’re a small business owner, you probably rely on receiving payments from your customers to offset the ever-increasing costs of running a business. Thus, financial difficulty usually results from late arrival and slow processing of payment transactions. 

This can pose major challenges to businesses, especially to the small and medium-sized ones. As such, payment processing for small business needs to be secure, quick, and reliable, particularly if it’s through the internet. 

Late payments can have many adverse effects on small businesses operating online. According to entrepreneur.com, some of the adverse effects of slow transactions and late payments include:

  • The salaries of the staff could get delayed. 
  • Existing staff of the business endure excessive pressure since the company cannot hire new staff.
  • Inability to invest in modern equipment to improve the business. 
  • Leads to significant budget cuts that affect marketing and the businesses ability to acquire new customers. 

The disadvantages are numerous. However, this article isn’t about bad news. The good news is, there are ways you can use to get better pay from your customers. One such approach is making payments for goods and services by signing up with an online payment service provider. 

Thus, this article lays out seven of the top options for online payment processing for small business owners. With the services of these companies, you can take the stress out of your payment process and help your customers make simple, secure, and fast payments. 

Top 7 online payment processing for small business owners 

Below are the seven most popular options of payment processing for small business owners who want to enable payment transactions through the internet. 

Amazon Payments

Amazon Payments is very well suited for small businesses that want to receive funds through the internet. The services integrate readily with different eCommerce websites with simple clicks. By doing so, your customers can instantly pay for your products and services from anywhere and on any supported device. It truly takes the burden of trying to manage everything from checks and credit cards from you. Irrespective of the variety of services and goods you provide, a single Amazon Payment account is enough to bring in all the funds from your online customers. 

Also, the solution is very streamlined if you look at it from the perspective of the customer. Because each customer can make payments directly using the Amazon.com accounts. In this case, being a giant eCommerce site like Amazon, the majority of consumers in the U.S. have Amazon accounts. Hence, they make payments directly to your merchant account from their Amazon accounts. 

PayPal

paypal

PayPal is the most popular service on this list. It comes as no surprise, because when a company started by an entrepreneur like Elon Musk makes a worldwide impact, it’s hard to go unnoticed. In terms of global impact, PayPal has assisted about 17 million businesses from around the world with their credit and payment solutions. One advantage of using PayPal is that you only need to own a traditional merchant account to begin receiving payments. 

Through their business services, an array of online credit card solutions become available for payment processing for small business owners. As part of their effort to the best small business payment processing services, they offer subscribers the ability to generate and track multiple invoices. 

Apple Pay

If you use an iPad or any other Apple device to run your POS system, then you’ll love Apple Pay. It’s an excellent choice since the system works even more seamlessly when you’re already in the Apple ecosystem. You can receive instant payments through your device using Apple Pay. The Apple Pay app deploys ID confirmation to ensure all transactions are secure and safe. Hence, transactions are a breeze. 

Also, customers and consumers who are already using Apple Watch or iPhone can make payment very quickly, just by the click of a button. Or better still, Siri could make the orders, and you’ll have your fund transferred into your account. 

Furthermore, transferring money from your Apple Pay account to your business or personal bank account can be that easy if you have the right payment processing for small business. And here, the Apple Pay service is quite an excellent choice for small business owners. 

Authorize.net

If you’re looking for a payment gateway service provider, then Authorize.net is one option you should check out. This service provides its users the avenue to accept e-checks and credit card payments through their websites. 

Through this unique option, payment processing for small business owners can now have a professional edge, especially if you’re looking to upgrade your brand and service higher profile clients. Through Authorize.net, you don’t have to redirect your buyers to a third-party site to complete purchases during check out. All the action happens on your website. This lends your business authority and credibility. You can get phone payments, mobile payments, and eCommerce solutions from the same service provider. 

For retail businesses in search of a payment solution specifically for their type of industry, Authorize.net provides a virtual point of sale. With this virtual POS, you can complete transactions in your retail store using a card reader connected to your computer. 

Intuit QuickBooks Payments

Through Intuit, you can streamline the way you issue invoices in your business. It’s hard to deny that smarter invoices can lead to faster payment. Intuit helps small businesses by integrating QuickBooks and their invoices. All you have to do to get started in to sign up for a merchant account. After this, the service will enable you to receive online payment from credit cards through the invoices you generate using the service. 

Their invoices could either be faxed, mailed, printed, or emailed. The choice depends on you. Also, you can give your customers a 24/7 online customer account center through Intuit QuickBooks Payments. This center is a password-protected and customizable web page where you have full access to the invoice, invoice, and payment history of each customer.

WePay

payment processing for small business

If you desire to have complete control of your small business’ payment methods, then maybe WePay might be the option for you. Many like it because it easily integrates into the feel and looks of their website. Indeed customizability comes as an extra advantage. However, it doesn\t end at the look and feel of your website. 

You can also customize the confirmation emails, checkout forms, credit card statements, customer support emails, and mobile transactions. Also, you get on-the-go payment solutions all set with mobile SDKs, mobile chip card readers, and what have you. The aim here is to improve user experience by giving users the ability to embed payment for their products and services in mobile apps when needed. 

Google Pay

With Google Pay, you can send and receive secure, simple, and fast payments from your smartphone, browser, or Gmail account. The services allow users to store debit cards, gift cards, credit cards, and even loyalty cards in their Google accounts. 

Google Pay is very keen on security. Hence, the service doesn’t share the customer’s card numbers with merchants. Instead, the card numbers remain concealed by Google. Therefore, keeping the data of your customers safe and secure. 

Final Thoughts

If you have paid attention to the details of this article, you’ll notice there was no mention of transaction fees. However, we must state that payment processing for small business owners doesn’t come free. It comes at a cost per transaction. To learn more about how much the best payment processors charge per transaction and which charges are best for your small business, stay tuned to this blog. We post regular content on small business payment processing services.