![]() To choose the best payment gateways for businesses, we reviewed gateway providers focusing on pricing and fees, supported hardware and software, and other payment processing features.Īs processing costs can take a large chunk of business profits, particularly businesses on a thin margin, pricing was a main focus area while reviewing. Depending on your processing volumes, Payment Depot could be a good choice. Payment Depot works with Clover terminals and other brands. Those cost around 2% + $0.10 or $0.22 per transaction. However, you’ll still have to pay interchange rates set by Visa and Mastercard. According to Payment Depot, its fee structure saves businesses an average of $400 monthly in payment processing fees. Payment Depot charges a flat monthly fee starting at $79 for unlimited payments up to $250,000 annually. If you don’t want to pay a percentage of every transaction, Payment Depot may be your best option. Bank Merchant Services, if you open a new Platinum Business Money Market account and meet other account requirements, you’ll get 2.50% back on transaction fees through 2024. If you mix and match online and offline sales, this robust offering is reasonably priced and works very well.Īs a bonus for new businesses to U.S. Online payments cost $0.30 per transaction plus 2.9%. For card-not-present keyed-in transactions, the cost is $0.15 plus 3.5%. ![]() Each plan has varying limits and features, so the best option depends on the size and type of business.įor card-present payments where the card is tapped, dipped, or swiped, the business pays $0.10 per transaction plus 2.6%. Cafes, restaurants, retail, and other brick-and-mortar businesses can access packages ranging from $29 to $99 per month, plus $29 per month for additional payment terminals. This bank is one of the largest in the United States, and offers a strong combination of banking and merchant services for businesses of all sizes.įor mobile payments, there’s no recurring software fee. This is the first part of a two-step process used mostly by merchants who need greater flexibility when processing payments.If you’re looking for a payment gateway that can handle any combination of online and offline sales, you may be interested in the merchant services offered by U.S. Authorization – Check for your cardholder's funds or credit availability (in other words, the cardholder's line of credit) and hold the amount.Contact Merchant Technical Support for more information.) To credit a transaction that was processed using your PayPal Virtual Terminal account, see How do I process a refund in Virtual Terminal? (Your account may or may not support credit transactions. Credit (non-referenced credits) – Returns a specific amount to a transaction or credit card that wasn't originally processed through your PayPal Virtual Terminal account.Choose Sale to process transactions in a single step. Sale – Instantly charges the specified amount against the account and marks the transaction for immediate funds transfer (capture) during the next settlement period.Transaction Type – Select a transaction type from the drop-down menu: Sale, Credit (if applicable), or Authorization.PO Number – A purchase order number associated with the transaction.Invoice ID – A unique, alpha, numeric, or alphanumeric value to prevent accidental payments (by blocking duplicate invoice IDs).You can use this information later to search for the transaction. Description – Provides details about the transaction for future reference.Note: The following optional information doesn't appear on your credit card statement: ![]()
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