The best payment processor depends on your business type. Stripe is best for online businesses and developers. Square is best for in-person retail and restaurants. PayPal is best for freelancers and simple online payments. Consider fees, settlement speed, and integration with your accounting software.
Key Moves
- Stripe: Best for online businesses, SaaS, and custom integrations. 2.9% + $0.30 per transaction.
- Square: Best for in-person retail, restaurants, and appointments. Free POS hardware options.
- PayPal: Best for freelancers and simple online payments. Widely trusted by consumers.
- Helcim: Best for high-volume businesses. Interchange-plus pricing saves money over flat rates.
- Consider settlement speed: next-day vs. 2-day vs. instant (usually with fees)
See reducing payment processing fees for more on this.
Frequently Asked Questions
What's the cheapest payment processor?
Helcim and Stax offer interchange-plus pricing that's cheaper than flat-rate processors for businesses over $10K/month in volume.
How long does it take to get paid?
Standard is 1-2 business days. Instant transfer is available for 1-1.5% fee. Next-day is usually free.
Can I use multiple payment processors?
Yes. Many businesses use Stripe for online, Square for in-person, and PayPal for international customers.