Top 5 Best Payment Processors

Here are some of the best payment processors in the industry.

If you are starting a new business online, there are a lot of things to keep in mind. From providing good quality goods and services to marketing, good website design, and more. With all of that in mind, you will need every help and shortcut you can get, especially when it comes to using a good payment processor.

This is why third-party payment processors became very popular, and over the years, their services evolved and became quite professional, quick, and easy to integrate and use. Of course, not all of them are the same, and comparing any two of them will show you that immediately. This is why it is important to choose the right one for your business right from the start, which is something that we can help you out. If you are looking to find some of the best ones in the industry — keep reading, and check out our recommendations.

1. Payline

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Editors’ choice 2020

The first on our list is Payline — an excellent choice for a mid-sized business, although it serves businesses of all sizes. It can also be found in most industries, which even includes some that might be considered as high-risk merchant types. However, the service itself has managed to build quite a reputation for honesty and transparency, which is not often a norm in the processing world.

Setting it up and using it is easy, and all you have to do is choose one of its standardized pricing packages that will suit your business. You will easily find your rates, fees, as well as terms of use, right there on the website. Another interesting thing to mention is that this particular processor gives back to the community through its Payline Giving program, which collaborates with numerous charities. It donates once per month, every month.

With it, you will have quite a few processing solutions to choose from, including Merchant Accounts, high-risk accounts, non-profit accounts, virtual terminal, payment gateway, and many more. Each comes with its own monthly, yearly, transaction, or other fees, depending on the plan and purpose. It has customer support, but it is only accessible Monday to Friday during working hours, and via email, which is one of its biggest flaws. Other than that, it is a great service to choose and use.

  • Low price

  • Easy to set up

  • No monthly fees

  • Very easy to use

  • No monthly minimums

  • Transaction fees are high

  • Smartphone apps are usually considered less secure

  • Customer support is not 24/7 and can only be reached via email

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With excellent customer service and email support

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2. Stripe

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Next, we have Stripe, which is an excellent choice for online businesses. It is especially good for international merchants. It is fast, very easy to implement if you have a bit of developer experience, and its prices are relatively low.

By using its API, you would easily be able to create your own e-commerce environment, or even partner with one of the e-commerce platforms that will help you build a store — if you can’t do it yourself and do not have developers. Of course, this will come at an additional cost, but if that is not the problem, you will end up with quite great results. Unfortunately, Stripe has one big flaw, which is the fact that it does not process PayPal payments. With PayPal as big and popular as it is, this could be an issue, depending on your plans.

Apart from that, Stripe is a great choice, excellent for online credit card processing. There is no monthly fee, nor a monthly minimum. It works with American Express, Visa, Mastercard, as well as Discover, and its transaction cost is significantly lower than that of PayPal itself.

  • Great developer tools

  • Advanced reporting tools

  • Predictable flat-rate pricing

  • Supports multiple currencies

  • Great for international merchants

  • Excellent subscription and marketplace tools

  • Does not process PayPal payments

  • Might have issues with account stability

  • Not the best choice for high-risk industries

3. Authorize.Net

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Halfway down our list, we have Authorize.Net, which is among the oldest and most popular payment gateway providers for eCommerce. The company has been operating in the sector since 1996 and was acquired by CyberSource in 2007. Then, in 2010, CyberSource itself got acquired by Visa. During all this time, Authorize.Net became a permanent payment gateway for over 400,000 merchants.

One thing that you must understand about it is that it is not a merchant account provider, but a payment gateway that also offers several ancillary products and services. If you want a merchant account, they can set you up with one, but they will have to employ a third party service themselves to do so. Authorize.Net serves merchants in the US, Canada, the UK, Australia, and Europe.

When it comes to its fees, this service can be quite pricey. The account set up fee itself is $49, and then you have to pay a monthly gateway fee of $25. Next, it has a $0.10 processing fee per transaction and a $0.10 daily batch fee. This prices can be different if you choose to employ the service for getting a merchant account, though.

  • Anti-fraud features

  • Month-to-month billing

  • Excellent security features

  • Supports multiple currencies

  • Does not require a long-term contract

  • Has a high account setup fee

  • High flat-rate pricing for merchant accounts

  • Complicated and expensive data portability

4. PayPal

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Of course, we could not create a list like this and not include PayPal, which is the best-known and most trusted processor around the world. It is very easy to use, and it will give you access to countless customers, as pretty much everyone has an account these days. The company itself claims to have over 250 million active accounts, and that it collaborates with over 17 million merchants.

It is very easy to set it up, and even easier to use. You can get it up and running pretty much immediately. It is also very transparent when it comes to fees, prices, terms, and alike. Additionally, it won’t even try to lock you into a contract with early termination fees.

Not only that, but it comes with an unreal number of offered integrations, as everyone wants to work with this company. However, there were many reports in regards to its customer support, which is apparently not that great. Also, it is not recommended that you use it for high-risk industries.

  • Predictable flat-rate pricing

  • Great developer tools

  • Extensive integrations

  • Multiple pricing plans

  • An excellent choice for low-volume merchants

  • One of the best-known and most trusted processors

  • Customer support is not that great

  • Might have issues with account stability

  • Not a good choice for high-risk industries

5. 2Checkout

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Finally, we have 2Checkout, also known as 2CO. This is a service that has been working as a third-party payment processor since the early 2000s. Staying true to its name, the service allows customers to check out and pay as soon as they complete their online purchase. It looks similar to PayPal, and even Stripe, likely as part to appear trustworthy and take a part of the market share.

It is partnered with numerous booking platforms, shopping carts, invoices, and more, meaning that there is a fair possibility you even met it before.

Another reason why this is excellent service is the fact that it works in numerous foreign countries. In fact, it claims to be available in more than 200 markets. It is likely among the best options for a global payments tool, which is not something that you will encounter often. It is also quite transparent, but just like PayPal — it is not a good choice for high-risk merchants.

  • Good website

  • Great advertising

  • Predictable flat-rate pricing

  • Month-to-month agreement

  • An excellent choice for international merchants

  • Held funds

  • Not for high-risk merchants

  • Not a good choice for card-present merchants

What to look for in a payment processor?

Before we start listing different providers, you should probably know what to keep an eye out for. As mentioned, most payment processors will offer a similar type of service, but with different features, at different prices, and alike. Things like the price are one of the first details that you should keep an eye on, as fees for their services can go from low to quite high, depending on the plan, and the processor itself.

The next thing to seek out is the ease of use. The technology behind integrating third-party services, apps, widgets, features, and alike has come a long way, and you should make it as easy for yourself as possible. There are many options, and you will definitely find some that fit your needs and are easy to use. Next, it is also important to see whether or not they have monthly minimums.

Some months will be busier than others, and the last thing you want is to stress about not hitting a certain number of transactions. Then, there are things like design, customer service, speed, availability, and much more, so make your choice carefully, and study any processor that you might like thoroughly.


Using good payment processors may appear to be only a single detail when it comes to running a successful business, but that doesn’t make it any less important. Choosing the best provider right from the start can make a huge difference for you, and your customers. Further, it will show that you are serious about your business, that you have done your research, and picked the best option available.

It is much easier to start off with a good choice than to have to make changes later. With that in mind, take your time, and choose carefully.