Trucking companies and modern logistics providers need to ensure secure, fast and accurate financial transactions. With many transactions daily, businesses cannot afford slow payment processing. You don’t want to have to spend unnecessary time dealing with a buggy payment processing system or lose customers because the payment doesn’t go through. All it takes is a few payment gateways fail to start losing customers.
That’s why you want a payment-processing system that is intuitive, efficient and reliable. Below you’ll find some of the best payment-processing companies for businesses of all sizes.
Quicklooks: Best Payment Processing Companies
- Best for flexible payment solutions: Merchant One
- Best for all supply chain businesses: RoadSync
- Best for online payment processing: Stripe
- Best for volume discounts: Helcim
- Best for QuickBooks integration: Payline
- Best for customized payment solutions: Global Electronic Technology
- Best for small businesses: Square
7 Best Payment-Processing Companies
If you’re looking for a reliable payment-processing provider, these seven companies can reliably meet the needs of various businesses.
Merchant One
Best for: Flexible payment solutions
Pricing: $6.95 per month
Fees: Processing fees are tiered, ranging from 0.29% to 1.99% per transaction
- 0.29% for debit cards
- 1.55% for swiped accounts
- 1.99% for keyed-in accounts
Pros:
- Easy to be approved
- Mobile processing
- Retail processing
- Swipe processing
- Point of sale (POS) system
- Key-in application
Cons:
- Lengthy contract terms
- High cancellation fees
Reviews: 4.1 of 5 stars on 896 Google reviews
RoadSync
Best for: All supply chain businesses
Pricing: Contact RoadSync for a custom quote.
Fees: Contact RoadSync for a custom quote.
Pros:
- Automated clearing house (ACH) payment processing
- Billing and invoicing
- Debit card and credit card payment processing
- Electronic signature
- In-person credit card payments
- Mobile credit card payments
- Multiple payment options
- Payment fraud prevention
- Credit card payments processing
- Payment processing services integration
- PCI compliance
- Reporting
Cons:
- No cryptocurrency processing
- No info on data security measures
Reviews: 3.8 of 5 stars on 16 Google reviews
Stripe
Best for: Online payment processing
Pricing: 2.9% plus 30 cents per transaction
Fees: No monthly subscription fees or setup fees. But in addition to the above, Stripe charges:
- 3.4% plus 30 cents for manually keyed transactions
- 3.9% plus 30 cents for international cards or currency conversion
- 2.7% plus 5 cents for in-person transactions
Pros:
- Supports over 135 currencies
- Offers customizable payment forms
- 24/7 support
- More than 450 other platforms and extensions
Cons:
- Limited in-person processing options
- Open application programming interface (API) and tools can be difficult to use without the necessary expertise
Reviews: 4 of 5 stars on 1,542 reviews
Helcim
Best for: Volume discounts
Pricing:
- Interchange fees plus 0.3% and 8 cents per in-person transaction if less than $25,000 in monthly card transactions.
- Interchange fees plus 0.5% and 25 cents per online transaction
- Interchange fees plus 0.5% and 25 cents per manually keyed transaction
- 0.5% plus 25 cents for ACH payments
- Lower fees for more than $25,000 in monthly transactions
- $109 for a mobile card reader
- $79 for a mobile thermal printer
Fees: None, other than above
Pros:
- No contract
- Volume discounts
- Transparent interchange fees-plus pricing and quick setup
- No monthly subscription charge
- No setup fees
- No payment card industry (PCI) compliance fees
- Merchant accounts
- A mobile app for iOS or Android
- Virtual terminals
- Point-of-sale software
- Hosted payment pages
- A credit card payment gateway API
Cons:
- Expensive for small businesses with low sales volume
- Chargeback fees
Reviews: 3.9 of 5 stars on 183 reviews on TrustPilot
Payline
Best for: Quickbooks integration
Pricing: Flexible pricing structure
- In-person transactions: Interchange plus 0.4% and 10 cents and $10 per month
- Online transactions: Interchange plus 0.75% and 20 cents and $20 per month
- Manually keyed transaction pricing varies
Fees:
- $10 for online payments.
- $20 for in-person payments.
Pros:
- Low cost
- Excellent customer service
- Free PCI compliance
- Online payment processing
- In-person processing
- Keyed in cards
- Easy accounting integrations for businesses
Cons:
- Unexpected fees
- Confusion over transparency
Reviews: 3.8 of 5 stars on 84 reviews on Consumer Affairs
Global Electronic Technology
Best for: Customized payment solutions
Pricing: $29 per month flat rate or 2.79% plus 30 cents per item. Contact Global Electronic for customized enterprise solutions.
Fees: No additional fees (see above).
Pros:
- Credit cards
- Online credit card payments
- Flexible payment solutions
- Subscriptions and Invoicing
- e-commerce plugins
- APIs
- Fast approval
- Next-day funding for qualified merchants
- In-house, 24/7 customer service
- Onboard users in a fraction of the time
- Accept and facilitate credit card payments on your users’ behalf
- Payout users or split payments between multiple entities
- Security and compliance management
Con:
- Some past employees were dissatisfied with their experience.
Reviews: BBB Accredited A+
Square
Best for: Small businesses
Pricing: Free, but varies. $29 per month plus processing fees for Plus. Contact Square for custom pricing solutions.
Fees:
- Card present: 2.6% + 10 cents per transaction
- Online: 2.9% + 30 cents per transaction
- Keyed in: 3.5% + 15 cents per transaction
Pros:
- Free to start
- No monthly fees
- Variety of hardware
- Flexible solutions for a variety of businesses
- No cancellation fees
- No PCI compliance fees
- No setup fees
- Free point-of-sale software
- Free mobile card reader
- Accounting integrations
Cons:
- Not the most cost-effective solution for high-volume or large businesses
- May freeze an inactive account
Reviews: 4.2 of 5 stars on 3,736 reviews on Trustpilot
How Does Payment Processing Work?
Payment processing facilitates credit card payments or debit card payments made to businesses of all sizes. Most businesses are looking for efficiency, reliability and low payment processing fees. Accounting software integrations, the flexibility of payment solutions and a personalized app or payment portal can be additional features.
In credit card payment processing, the processor is responsible for submitting the transactions to the appropriate card association, which will reach the issuing bank. The issuing bank receives authorization requests with parameters like card verification value (CVV), address verification service (AVS) validation and expiration date. The issuing bank approves or declines the transaction, which is then conveyed to the payment processor, which will approve or decline the transaction on the business side.
Which Processing Company is Right for You?
Getting the right processing company for you requires some awareness of sales volume, types of sales (in-person/online), software, support and pricing for volume. Be sure to choose a credit card payment processing company that has:
- Low fees for your company’s typical sales volume
- Offers flexible payment processing for the type of payments your customers typically make
- Excellent customer support
- Solutions to integrate with your company’s website and app (if applicable)
- Software that is compatible with your company’s software or web hosting
- Scalable pricing solutions to adapt to company growth
- Accounting software integrations and reports
Final Thoughts on the Best Payment-Processing Companies
Whether you’re freight factoring, need to send payment reminders or create customized invoicing payment terms, finding a payment processing company with an effective rate that is low for your typical sales volume will allow efficient, integrated business solutions to build and retain customer confidence and automate payment processing. Working with the best payment-processing companies means you’ll spend less time worrying about payments and more time building your business and driving growth.
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