Whether your business is a brick-and-mortar store or an e-commerce platform, developing a payment processing strategy may not be as easy as it sounds. With hundreds of payment processing services out there, choosing the one that’s best for your business and customers may be challenging.

Here’s an analysis of 12 payment processing strategies.

IRIS CRM

IRIS CRM is a cloud-based payment processing platform handling payments that you can access via a secure website. With over 50 integrations, IRIS CRM provides a robust collection of tools enabling payment processing organisations to conquer marketing and retention. Employees can quickly adopt the software and offer services incorporating API integration, and it eliminates the need for a business to invest in multiple systems.

Stripe

At about $35.3 billion, stripe offers an API that web developers and merchants use to incorporate payment processing services into their sites. The company has various cost-free services, like refunds, and merchants can easily update their payment platforms with a few code lines. The downside is that it takes two business days for merchants to deposit money into accounts successfully.

Helcim

Helcim can be suitable for small businesses because it is easy to set up, offers high volume discounts, and has straightforward interchange-plus pricing. Payments may be made via in-person or keyed and online payments. In-person payments consist of 0.3% interchange-plus and 8 cents/transactions for companies having $25,000 or less monthly card sales. Keyed and online include a 0.5% interchange-plus and 25 cents/transaction for companies dealing with $25,000 or less monthly card sales. With Helcim, there are no PCI compliance or setup fees, monthly subscription costs for merchant account providers, and merchants can cancel the service anytime without penalties.

Ingenico

As a payment processor, Ingenico is preferred by companies prioritising in-store payments as it’s a top provider in dealing with in-store card payments. Currently, Ingenico provides various payment services covering online and in-store mobile channels.

Adyen

Founded in 2006 and with famous merchants like Spotify and Facebook, Adyen offers e-commerce firms a payment platform consisting of risk management, gateway, and front-end processing services. The company’s services are used in over 200 countries and enable payment in any medium across 100 various payment mechanisms.

Clover

Clover offers payment processing services and POS hardware and software services. In clover, pricing depends on the preferred software plan with in-person and keyed-in transactions. In-person transactions have a monthly fee ranging between 2.3% and 2.6% plus 10 cents, depending on the program. On the other hand, keyed-in transactions have a monthly cost of 3.5% plus 10 cents, depending on the chosen plan. Although clover is relatively affordable and convenient, the software plans have a monthly fee for various POS terminals used.

Fiserv

Fiserv is among the most prominent 2019 fintech tie-ups and offers services including technology, payment processing, and debit and credit card transactions. With over 12,000 financial institution clients, the company provides various technology solutions to merchants, banks, and other businesses.

Due

This company’s billing and payment processing services are ideal for small business owners, companies, and freelancers. The billing and payment process services include project management, time tracking, and invoicing options, with the latter two features being in over 100 languages, tax systems, currencies, and international card processing.

Payline Data

Payline Data accepts various online, in-store, and mobile app payments. Moreover, this payment processor offers merchants cash advances, QuickBooks integration, customer insights, and an interchange-plus pricing structure without a reversal fee. Payline Data also has excellent customer service anytime you need help.

BitPay

Founded in 2011, BitPay is among the most significant bitcoin payment providers worldwide. The company transacts more than $1 million every day, where users convert bitcoin into their preferred currencies. There are nine currencies in 38 countries to choose from, reducing volatility. BitPay works with Merchant Acquirers, PayPal, Alternet Systems, and Global Payments.

Square

With Square, you can accept payment anywhere in the world. That’s so because of its innovative features like contactless + chip reader, magstripe reader, and stand, which convert the mobile device into an exceptional and unparalleled payment processor. Square is also custom-tailored, offering solutions for several business types like beauty, transportation, restaurants, and professional service companies.

PayPal is among the most popular payment processing services suiting businesses. When you integrate PayPal into your business, your customers can make transactions using their PayPal account number without displaying their debit or credit card details.

Many businesses have shifted from checks and cash payments to digital payments. This shift has seen many business models adopting new and advanced payment technologies. With numerous payment processing companies, it’s best to choose affordable, feature-rich software that aligns with your business goals and objectives.

PayPal

PayPal is among the most popular payment processing services suiting businesses. When you integrate PayPal into your business, your customers can make transactions using their PayPal account number without displaying their debit or credit card details.

Many businesses have shifted from checks and cash payments to digital payments. This shift has seen many business models adopting new and advanced payment technologies. With numerous payment processing companies, it’s best to choose affordable, feature-rich software that aligns with your business goals and objectives.