The Best Merchant Services 2020

Check out the top 5 Merchant Services 2020 available for your business.

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This website is a free and independent comparison review site that aims to help consumers find the most suitable product for their needs. This is done by providing helpful content and comparison features. In order to maintain a free, high-quality service, this website charges an advertising fee to featured brands whenever a user completes a purchase. These advertising fees, combined with application rates as an indicator of popularity, might impact the placement of the brands on this page. Ratings are subjective and are based on a combination of review findings, user experience and product popularity. Our best effort is made to present up-to-date information; however, we do not compare or include all service providers in the market.


Leaders Merchant Services – Simple processing solutions with low rates and fees

  • Ideal for small businesses
  • Free EMV equipment

Rates from
0.15% + $0.18


Flagship – Extensive range of hardware options for all businesses

  • Same day funding available
  • Free Clover and EMV equipment

Rates from
0.35% + $0.19


Payment Cloud – Trusted choice for high-risk businesses

  • 98% approval rating
  • Secure online gateways

Rates from
0.39% + $0.19


Square – Ideal for on-the-go businesses

  • Intuitive and easy to use
  • All-in-one payments system
  • Works on multiple devices

Rates from
2.6% + $0.10


ProMerchant – Straightforward pricing, uncomplicated contracts, competitive rates

  • No cancellation fees
  • Start accepting payments within 2 days

Rates from
0.05% + $0.22

How to Choose the Best Credit Card Processing Company

When it comes to picking the best credit card company for your business, it helps to follow these four simple rules, which we relied on heavily to formulate our list of best credit card processors. You can use them in your search as well.

Rule 1: Transparency is the best policy

For a credit card processor to make it onto our list of recommendations, there can be no hidden fees and no surprises. That’s why we insist that our featured merchant account providers use a pricing system that separates wholesale from markup cost (interchange-plus, aka “pass-through” pricing). The interchange rates are set by the credit card brands (Visa and Mastercard foremost) and are the same for every credit card processor. It’s the markup that really matters here. In addition to using this cost-plus pricing model, all our top picks make in-depth fee disclosures upfront. All of our top-rated processing companies will also meet or beat your current rate if it’s lower than their advertised price. And all new businesses are guaranteed a fair starting rate thanks to the standardized public rate disclosures.

Rule 2: No pressure, no commitment

We do not tolerate high-pressure sales tactics or long-term commitments. Some salespeople will say anything to get you to sign the dotted line — and then will force you to pay hundreds or thousands of dollars when the company doesn’t live up to its promises. We only recommend companies that employ honest, respectful sales reps and offer service with no long-term contract commitments (with the exception of high-risk processors). You should be able to accept credit cards without making a deal with the devil.

Rule 3: Look for value and savings

Some credit card processing companies only give you barebones service, but they do so at rock-bottom prices. Others charge a bit more, but provide valuable software as part of the service. Which is best for you? That depends on your budget and your wants/needs. The cheapest credit card processor isn’t always the best. Likewise, you don’t always get what you pay for. It’s important to determine the value of a merchant account for your particular business needs. The topic of credit card processing fees is way too broad for us to cover completely in this post, but, if you’re interested, we have an in-depth resource that explains everything you could ever want to know about card payment processing rates and fees.

Rule 4: Reputation matters

We carefully consider every complaint we find to figure out what went wrong. We then weigh these conclusions against the number of businesses the credit card processor services to make decisions about which companies we feel comfortable recommending. Our top-rated merchant account providers have extremely low complaint counts and numerous independent reviews validating good practices. A proven track record of satisfaction is imperative for us.

That’s not so much to ask, is it? We don’t think so, and we never settle for less.