Payment processing software is critical for streamlining the process of taking transaction data from customers and paying people. It also aids in the setup of recurring billing, fraud prevention, and the security of client payment details.
In this top tools list, we'll go through the top thirty payment processing tools that will help you streamline your online payment process.
1. Square
Square comes with an easy credit card reader that allows you to receive payments from most of the credit cards (Visa, Mastercard, Discover, and so on) as well as contactless banking like Apple Pay and Google Pay). You can save cards and use recurring payments to charge repeat consumers. You can also use your phone or computer to make custom invoices and email them to the consumer. Square has a virtual terminal function that allows you to bill consumers remotely by entering their information.
Key Features:
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Contactless chip reader
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Magstripe reader
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Convertible stand
Cost:
2.6% per transaction
2. Thryv
Thryv is a small business-focused end-to-end customer experience platform. Just from a single screen, the software helps you get the job done, handle the task, get compensated, and earn credit. Entrepreneurs may use one easy platform to help them achieve today's client expectations.
Key Features:
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Streamline payments
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Store card information
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No extra charges for phone transactions
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Integrated with other payment processing software like Paypal, Google Pay, and many more
Cost:
$0.3 per transaction
3. GoCardless
GoCardless was created with recurring payments in mind. They're one of the world's biggest bank to bank direct debit services, helping companies receive money in over 30 of the world's top markets. GoCardless makes it easier to be paid for over 55K businesses globally, ranging from large corporations to small businesses.
Key Features:
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Recurring payments
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API integrations
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Instant bank pay
Cost:
1% of the transaction
4. Tipalti
Tipalti, with an unprecedented amount of regulation change posing huge payment challenges for global enterprises in recent decades, offers a rock-solid processing solution that ensures compliance.
Tipalti's cloud-based managerial accounting option can be completely integrated into a company's enterprise system via profound API access, and its billing technology, payment remittance, supplier management, and easy payment reconciliation functions claim to reduce a firm's mass payments workload by 80 percent. With a white-labeled web portal for vendor onboarding, end-to-end accounts payable management, payee status messaging, and currency selection, Tipalti is suitable for business-to-business operations.
Key Features:
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API access
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Tax compliance
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Invoice automation
Cost:
Free
5. Omnifund
Omnifund is a Payments Platform solution that includes card transactions, recurring payments, billing, and reporting in a single package. The enrollment process is simple, and the program's Automated Clearing House (ACH) feature allows users to optimize connectivity amongst multiple card providers to accelerate the processing process.
The fraud prevention skills and compliance support are two of OmniFund's main differentiators. In order to inform users of questionable behavior, the platform includes a wide range of fraudulent evaluation parameters, such as the speed of user data entering.
Key Features:
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Card integration
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Invoicing and reporting
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Recurring payments
Cost:
Free
6. Raklet
Raklet one-of-a-kind online payment system is part of a larger portfolio of products aimed towards the club and entertainment industry. Its integrated workflow provides a smooth onboarding experience and a simple CRM system for companies to collect payments, handle communications, and plan online and live events.
Raklet's CRM sends out automatic reminders and collects monthly subscriptions, ticket sales, contributions, and recurring payments, as well as secure transactions, to keep corporate accounts fully updated.
Key Features:
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Collects payments
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CRM System
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Manage communications
Cost:
Free
7. Payzer
Payzer is a little more powerful than other cloud-based payment processing. Payzer offers regular online payment services as well as real-time tracking of all client transactions, allowing users to keep track of all payment activities using Payzer's user-friendly online portal. Users can also access previous transaction data, payment inquiries, operating procedures, and onboarding features from there. Payzer also allows you to transfer cash to cards, zero your firm's balance, and track your outgoing transactions.
Key Features:
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Monitor activity online
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Administrative controls
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Track all the transactions
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Contact-free payment solution
Cost:
Free
8. Worldpay
Worldpay is unquestionably one of the world's largest companies in terms of digital payment processing technology and cloud-based payment systems, performing more than 31 million activities every day. It's easy to see why, given Worldpay's extensive product portfolio for retailers and SMEs.
Worldpay's cloud-based system enables businesses to accept payments in person, electronically, and by smartphone, all of which can be controlled through an attractive terminal interface that works with Oracle and PayPal.
Key Features:
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Contactless payments
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Inventory cataloging
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Sales analytics
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Automated cashing functions
Cost:
Contact Sales
9. Bill.com
Bill.com's payables feature, which is integrated with QuickBooks, Sage Intacct, and Netsuite financial accounting, is one of the company's most important features. Its product suite also contains a receivables module that incorporates automatic billing and direct transfers that instantly sync with the accounting system to keep a firm's books updated.
Key Features:
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Accounts receivable and payable modules
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Direct deposits
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Recurring payments approval
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Billing and invoicing
Cost:
Starts at $69
10. Tap2pay
Without a question, Tap2Pay is one of the most efficient payment processing softwares accessible to social-media-savvy businesses. It is a cloud-based, integrated program that allows companies to accept payments over social media. Users may set up stripped-down online shops, sell a product, subscriptions, make bills, and connect with consumers from each social network site using Tap2Pay's single dashboard.
Key Features:
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Allows you to generate leads from social media
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End-to-end customer management
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Pre-defined billing process
Cost:
Free
11. Apply Pay
If a large percentage of your client base uses Apple products, you should give them the option of using Apple Pay. With a contactless system, they're capable of paying you straight from their ios device. Apple Pay's digital wallet now accepts card payments, money transfers, and cryptocurrency.
Key Features:
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E-commerce platforms
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Can be used even in iMessages
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Secure payments
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Increased conversion rates
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New user adoption
Cost:
Contact Sales
12. Flagship Merchant Services
Flagship Merchant Services is a fully-featured payment processor that offers businesses a variable monthly cost. When your small business grows, you may need to consider upgrading to a payment processor that can manage bigger amounts of transactions and this app allows you.
Key Features:
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Merchant account provider
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Payment solutions for all business types
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Easy-to-use products
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Same day funding
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Integrated with Apple pay and Googe pay
Cost:
Free
13. Bitpay
BitPay is a payment service provider that only accepts Bitcoin payments, which is ideal if your company is using cryptocurrency. Users must download a blockchain wallet to maintain their finances, but the benefit is that all transactions are extremely secure.
Key Features:
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Helps manage bitcoins
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Prepaid MasterCard
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Spend Bitcoin on your terms
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Manage multiple wallets on Crypto
Cost:
Free
14. Adyen
Adyen, based in Amsterdam, is a worldwide payment processing firm with offices in several countries, allowing you to accept payments anywhere. It's a good alternative for any local business that requires real-time money transfers, and it accepts a variety of payment methods, including credit card payments and bank transfers.
Key Features:
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Financial management
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Protects revenue
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Real-time transactions
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Manage fraud at scale
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Machine learning technology
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Global acquiring
Cost:
Contact Sales
15. Due
Due is a payment processing service that also contains services such as billing, cross-border transactions, and time management. It can handle a wide range of dialects and tax systems, making it an excellent solution if you have a lot of international clientele.
Key Features:
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Debit and credit card transactions
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Transactions clear within 11 days
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Chargeback protection
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Live monitoring of transactions
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Encryption
Cost:
Pro at $10 per month
16. Helcim
Helcim makes it simple to accept credit cards via your mobile. You can turn your PC, smartphone, or iPad into a credit card processor using the Helcim virtual terminal. It allows you to accept Visa and Mastercard as well as other major credit cards. It also allows for instant payment authorization, with all credit card details safely stored.
Key Features:
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Card reader
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Customer portal
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Virtual terminal
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Recurring billing
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Hosted payment
Cost:
1.92% per transaction
17. QuickBooks GoPayment
QuickBooks GoPayment is a payment processor that does everything. It allows you to receive credit card, debit card, and wire transfer payments online and have them put into your account the next working day. In respect of in-person transactions, it has a card reader that allows you to make contactless payments.
Key Features:
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Invoicing
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Credit card processing
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ACH and e-checks
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Recurring bills
Cost:
Starts at $12
18. Elavon
Elavon provides a secure business card processing solution that is compliant with the PCI DSS. Elavon allows you to accept credit cards, debit cards, and bank cheques as forms of payment. Evalon also accepts Apple Pay, Samsung Pay, and Google Pay transactions. It guarantees that payments will be transferred to your account the same day.
Key Features:
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Contactless payments
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In-person payments
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Payment optimization
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Security and PCI compliance
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Reporting and management
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Value-added services
Cost:
Contact Sales
19. Venmo
Venmo is a payment processing software that is available for free. You can accept or pay for purchases using a card or bank account. Venmo allows you to link your phone contacts or Facebook profile, making it easy to identify, request, and pay your contacts. People can be found by searching for them by their identity, Venmo account, mobile number, or email.
Key Features:
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Has a unique QR code for extra security
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Allows you to add emojis or GIFs with the payment description
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Integrated with Apple Pay and Google Pay
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Buy and sell crypto
Cost:
Free
20. KIS Payments
KIS payments allow company owners to safely and rapidly accept any form of a card. Its virtual terminal function may turn your phone, computer, or iPad into a card processing machine. KIS Payments also has recurring billing functionality, allowing you to bill repeat clients on a specified schedule. It also enables you to develop a number of reward programs in order to strengthen client relationships.
Key Features:
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Helps create online stores
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Recurring invoices
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Safe transactions
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Comes with videos and tutorials for help
Cost:
Free
21. Fiserv
Fiserv can handle all forms of payments and over 60 different clearing systems. Singapore, Malaysia, Indonesia, and Thailand are among the countries that use it as a consolidated payment platform for local and regional transactions. Their real-time payment framework lets you add clearings and fine-tune procedures based on your payment strategy. The app works on any device, including a smartphone, tablet, and desktop.
Key Features:
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Contactless payment
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Processing services
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Customer and channel management
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Insights and optimization
Cost:
Contact Sales
22. FTNI
Accounts receivable activities can be streamlined and automated with the help of FTNI. It allows you to take credit and debit card transactions for one-time and recurring transactions. The ETran platform from FTNI gives you the freedom to manage payment acceptance using your current bank, merchant operator, and back-office relationships. FTNI may use the ETran app on the mobile to send personalized bills and safely accept checks, credit cards, and debit cards.
Key Features:
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Integrated receivables
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Remote deposit capture
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Online payments
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Autopay solutions
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Financial services
Cost:
Contact Sales
23. Payline
Payline is a subsidiary of Pineapple Payments, based in Chicago, Illinois. It caters to businesses of all sizes, from entrepreneurs to Fortune 500 corporations, and focuses on the payment process. Payline provides payment processing through a gateway, and its online solutions are compatible with over 175 internet shopping baskets. The company also provides mobile solutions for accepting payments using mobile apps.
Key Features:
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Virtual terminal
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Mobile app and mobile card reader
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Recurring billing
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API Documentation
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Shopping cart integrations
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Online dashboard
Cost:
0.4% per transaction
24. Authorize.net
The major goal of these technologies is to simplify the payment procedure, which Authorize.net does. The platform, which was created with businesses of all sizes in consideration and offers a variety of programs, allows you the capabilities to sell things and accept payments online or in-person at a shop. You may collect payments from sites and rapidly deposit money into a commercial bank account using the service.
Key Features:
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Online payments
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Mobile credit card reader
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eCheck payment
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Monthly billing
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Virtual terminal
Cost:
Contact Sales
25. 2CheckOut
2CheckOut is another popular payment option for online businesses, not least since it's simple to set up memberships in addition to one-time payments. This makes it particularly handy for online firms that sell digital services like web hosting or website design.
Key Features:
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All-in-one monetization solutions
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Global payments
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Global tax and financial services
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Risk management and compliance
Cost:
Contact Sales
26. Opayo
Not only does Opayo provide a merchant gateway, but it also allows you to instantly track all sales and payments in your Sage accounting system. This makes it particularly useful for improving efficiency, not least since it allows you to view your expenses and revenue in real-time. While Opayo has a variety of options, it's essential to have a merchant account in order to get the most out of the program.
Key Features:
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Online payments and face-to-face payments
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Virtual terminal
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Online invoicing
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Track transactions
Cost:
Free
27. FIS Global
Another prominent payment gateway is FIS Global, which has a number of interfaces for leading e-commerce systems. You can establish a monthly subscription service or utilize a merchant account to benefit from interchange fees on all payments. However, after being controlled by two different corporations in recent years, it has seen considerable changes, so it's worth checking to see what services are still offered and at what cost.
Key Features:
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Merchant solutions
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Business solutions
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Capital market solutions
Cost:
Contact Sales
28. Amazon Pay
Hundreds of thousands of customers across the world use Amazon Pay to pay for items and services using data already saved in their Amazon accounts. It's a familiar purchase experience from a well-known and trusted brand.
Key Features:
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Web and mobile application
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Online payment
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Online shopping cart payment
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Safe transactions
Cost:
Free
29. Stripe
Stripe is a developer-friendly cloud-based payment processing processing platform. Its integrated APIs support full-stack transactions, billing, shared customers, quick payments, and the extraction of any required transaction fees.
Stripe's payment flow technology ensures that businesses comply with PSD2 by taking on the regulatory burden of the system's own e-money licence. Stripe is a free service for enterprises. There are no installation fees, membership fees, return penalties, or card storage fees.
Key Features:
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Fully integrated with several payment options
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Beats fraud
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Sends invoices
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Issues virtual and real cards
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Get financing
Cost:
Free
30. Paypal
One of the most extensively utilised online payment services is Paypal. It was established in 1998 as Cofinity and allows you to send and receive payments from anywhere in the world. PayPal is a payment processing service that allows e-commerce companies, online sellers, and other business entities to accept payments from all around the world, including American Express and Visa. It also has a simple shopping cart, several customization possibilities, online invoicing, and the ability to accept card payments through phone.
Key Features:
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Easy website integration
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Card synchronization
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Integrated with Shopify
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One-touch login process
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Mobile optimization
Cost:
$30 per month
Things to Consider While Choosing Payment Processing Software
Terminals in the Cloud
Is there a virtual terminal in the program that allows you to turn your phone into a payment gateway, manually enter the card information, and make payment? Virtual terminals allow you to collect payments even when a card isn't physically available.
Billing on a regular basis
Is there a recurring billing option in the payment processing software to appeal to subscription-based users? Is it possible to create bespoke recurring payment plans for these loyal customers? The ability to set up recurring billing is an important feature to look for in online payment apps since it allows small businesses to avoid the hassle of manually charging each user every time.
Data Protection
Is there any security built into the payment processing software, such as cryptography and tokenization, to secure credit card information used in money transfers? Is the app using cutting-edge technologies to detect fraud, such as artificial intelligence (AI)? Because the monetary data held is so valuable, security is an important consideration when choosing a payment processing program.
Reminders and alerts
Does your payment processing system provide your clients’ notifications to remind them to settle their bills? Also, does it provide you with a reminder about the payment details once the payment is made? Alerts, reminders, and messages help you stay on track with your purchases and arrange your finances.
Invoice Flexibility
Is it possible to send customized invoices to your consumers using the payment processing apps? Customers that are invoiced add the required papers to make the process more orderly and legitimate.
FAQs
What is payment processing?
Payment processing is a mechanism for handling transactions and collecting payments in your business by transferring information from your customer's debit/credit card and the customer's bank account. In other terms, payment processing enables you to receive payment from your consumers by allowing them to transfer money to your account using their preferred payment method.
What is payment processing software?
Payment processing software enables firms to process a variety of business-to-business (B2B) transactions. This sort of software is used by businesses to handle money received from consumers and made to vendors. Payment processing software is beneficial to any company that handles payments other than cash. Accounting teams typically utilize this software to verify that transactions are completed on time and that transaction problem are avoided.
What are the comparison criteria for payment processing software?
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UI (User Interface): Is it neat and appealing? Is the menu straightforward and uncluttered? Is it devoid of non-essential features and options?
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Usability: To transfer funds, almost every industry requires an online payment app. A payment processing system should be relatively simple to use and set up in order to appeal to such a diverse user base.
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Integration: Is it simple to integrate with other applications? Do you have any pre-built integrations? Is it possible to easily integrate related apps using the API? The top payment processing apps integrate with landing sites, accounting systems, and other apps right out of the box.
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Value for money: Is your price straightforward, transparent, and adaptable? Is there a monthly fee, a transaction fee, or both?
What are the key features that a payment processing software should have?
Some of the key features that a payment processing software should have include:
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Data security
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Recurring billing
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Virtual terminal
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Invoicing flexibility
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Reminders and notifications
How do you pick the best payment processing software?
For smaller firms, there is no single explanation, as the optimal option will vary depending on whether you function purely online or have a physical location. The top credit card payment processing firms combine ease-of-use with user-friendly features and reasonable fees, ensuring that your client’s credit card information is kept safe.
Conclusion
Here are the top 30 payment processing software that you can use for your day-to-day transactions or daily company transactions. Choose your best pick that is suitable for your transactions.
