Updated on January 18, 2022
Merchant services make it easier for businesses to accept debit and credit card payments. Your merchant service provider will help you set up a merchant account and provide access to payment processing tools including point-of-sale (POS) systems, virtual terminals, card readers, and payment gateways. Pricing models include interchange-plus pricing, subscription or membership, and additional merchant tools.
The best merchant service providers deliver an array of flexible payment solutions for online and in-person transactions. You can expect highly competitive rates, monthly contracts with no cancellation fees.
2022 Best Retail Merchant Account Providers
Dharma Merchant Services
Dharma Merchant Services offers competitive pricing and flexibility to their merchant customers. Here you won’t pay for little things like PCI Compliance or even batch fees. Interchange-Plus pricing, subscription pricing, a surcharging model, and excellent customer service have made Dharma one of the best-of-the-best in the payment industry and put them ahead of many competitors. Dharma also has some of the lowest costs on terminals and POS Systems in the entire industry and is always 100% transparent. If you process more than $10,000 per month Dharma could be the keeper you’ve been looking for.
Payment Cloud
Payment Cloud is an excellent choice for both retail, E-commerce, and high-risk merchant accounts. They also have a nice selection of EMV terminals and POS systems or if you have a POS register that you’re attached to they can always reprogram it for you. Although Payment Cloud doesn’t show pricing on their website, they do offer no setup, no cancellation fee, wholesale pricing, and next-day funding. With great customer care included, Payment Cloud may very well be the right processor for your business.
Payment Depot
With membership pricing, Payment Depot offers a no percentage markup for the pricing model. Instead, you pay the true wholesale rates from the banks and credit card networks. A membership from Payment Depot includes all ways to process cards, including in-person swipe, virtual or online terminal, and even mobile payments. Payment Depot has proved to be one of the most affordable pricing models for a small business merchant account. They have shown without a doubt that great pricing and excellent customer service keep customers happy.
Payline Data
Payline Data’s retail pricing model is a great choice for small and medium-sized businesses. You can expect interchange-plus pricing, month-to-month contracts, and no (ETF) early termination fee. With an excellent reputation and known for great customer care and technical support, Payline does stand out from the crowd and is considered a top-tier processor.
Square Payments
With Square Payments, you can process credit cards online, in-person, virtual terminal, and mobile, which makes it simple to run a retail and online store. One of the things we like most about Square is the many extra features that are included such as a complete suite of business management tools. In this business suite, you’ll be able to accept card payments, record checks, cash sales, invoices, reports, and more. Square has a simple flat rate for pricing and is considered perfect for low volume businesses, however many merchants prefer the ease of use and their credit card payment app. It’s a great place to start for retail, online sales, or even mobile.
