Top Payment Processors for Collecting Online Credit Card Transactions

You need to have a payment gateway in place if you plan of accepting credit card payments on your website, and today, it’s absolutely necessary. There are a few common names in the industry, but that doesn’t necessarily mean you have to use them.

Below, we have input from several business owners who are explaining why the use who they use and provide honest feedback regarding their experiences. Use their feedback and recommendations to explore new payment processor opportunities, whether you are looking for your first one or are looking for companies to rate shop against.

QuickBooks

“We use QuickBooks to process our payments. We love the fact that our clients can click right on the invoice and pay, we don’t like the high interest rates they charge for absolutely no reason other than to gouge us.” — Ben Walker, Founder of Transcription Outsourcing, LLC

Payza

“Payza is used by many, and there are two reasons why it’s hard to beat. Consumers trust it and they like knowing it’s secure and reliable, and second, it integrates with everything. Businesses that aren’t using it are missing opportunities.” — Ari Evans of AAA Handbags

Local

“We go through out local bank and the reason we do is because the rate we receive is very competitive and based on how long we have been their customer. Everything is integrated smoothly so it makes everything easier on our accounting department. For what we need, it’s a great partnership.” — Christopher Dziak, CEO of Pure Nootropics

Rotessa

“We use Stripe and Rotessa, they are both great because it is a set it and forget it cost effective automated process, together with an integration to collect which provides notifications when issues arise. I appreciate it is secure and I am comfortable with storing my client’s personal data there.” — Shawn Freeman, Founder and CEO of TWT Group

CMS

“CMS. They are brutally expensive. Also not the most fun to deal with. The onboarding process was probably the only thing to date that has been above average.  This is probably why the costs are so high with them.” — Marc Webb, Founder of Real PDL Help

2CheckOut

“2Checkout is one of the easiest in terms of getting set up and as far as integrations go. There isn’t any application we have found that didn’t just plug in with 2CheckOut. It’s an industry leader and their payout speeds are very fast, which as a business owner is very important. We love them.” — Jim Epton of Dom Huga Ltd

Payment Cloud

“Payment Cloud is one that we have been looking at. It has some nice features and it’s always a good idea to look at other available options. There is a lot of competition these days and companies are often slashing fees to move over, which can be huge savings for some.” — Matt Herron, CEO of AnswerFirst

Authorize.net

“Authorize.net is one of the oldest and most trustworthy payment gateways available. They have great rates and their customer service is top notch. They are also one of the big 3 (I would say Stripe and PayPal are up there with them) that integrate with almost all invoicing tools and shopping carts.” — Tom Munroe, CEO of RugStudio

Recurly

“We have used a number of different processors. Authorize.net was originally used and we customized the connection with a custom shopping cart. Since then, we have used Recurly and even PayPal buttons for easy integration.” — Shawn Schulze of HomeArea.com

Stripe

“We use Stripe, primarily because of the modern technology and security features. There’s peace of mind that comes from not having to process or store sensitive financial information ourselves. The only complaint is that it can be hard to negotiate rates until you’re processing significant volume.“ — Sean Christman, Founder of Slamdot

Square

“Square is a good option that many online businesses can use to not only handle payments, but also build their online store on, using their website builder. The entire platform has come a long way and evolved into a complete e-commerce tool. Their portable reader is also great for in person charges.” — Andrew Tran, Founder of Therapy

Bank’s Provider

“Our payment processor is set up directly with our bank’s merchant account who we’ve had a relationship with for decades. Anytime we’ve had issues or questions about fees, we’re able to get those issues resolved quickly and efficiently instead of having to wait for overseas support.” — Joseph W. Belluck of Belluck & Fox, LLP

PayPal

“We chose PayPal because they have a full-featured product and are easy to set up. An easy setup was required because credit card payments are not the major revenue source for our business so keeping setup costs down was a priority.” — Matthew Kolb of All High Schools

David Jackson

David is a personal finance expert, a professional male model, and an entertainment writer.