Square card processing lets you accept card payments easily; however, it bills you for each transaction. High cost per transaction fees aside, the square card processing has bad customer service ratings.
We have listed five alternative credit card processing software to help you process payment. Read on to find out the alternatives and how to select the best-suited card processor for your business
What Other Credit Card Processing Software Can I Use?
Choosing a credit card payment processor can be a difficult task. It is harder when you are new to the business. Asides from the Square Credit Card Processing company, there are numerous other alternatives.
We have put together some of the best alternative credit card processing software to Square. Go through their pros and cons and select one that best works for your business.
1. CDG Commerce
CDG commerce has been in the credit card processing business for over 20 years. Their services are designed to cater to the needs of small and medium business establishments.
We recommend this company for new businesses looking to set up credit card processing operations immediately.
- Discount based on sales volume – the company offers you a flat pricing rate and a fixed subscription per month.
- Transparent Price Rates – their pricing distinguishes between markup and wholesale price.
- Monthly Subscription Fee – the fixed subscription fees give room for you to opt-out of their services at any time.
- No Termination Fees – the CDGcommerce does not penalize you for terminating your subscription.
- Free Virtual Terminal and gateway – this credit card processing company offers you a free gateway and virtual terminal along with your credit card processor.
- Limited Availability – CDGcommerce credit card processing is available only to merchants based in the US.
- Not Suitable for All Business Types – it is not available to some high-risk businesses.
Helcim is rated as the best credit card processing company. They offer top-notch services at a low rate. The Helcim credit card processor is suited for small businesses and has options for scaling up.
- Security – Helcim credit card payment processor offers your excellent business security.
- Reliable Service – it makes card processing faster, more efficient, and easier for you.
- Zero Setup Fees – setting up this card processor comes at no extra fee. Also, there is no penalty for canceling your subscription to the software.
- Volume Based Discount – the company takes your average processing volume for three months and offers you sweet discounts. The more you process, the more you save with Helcim.
- Auto-pause Subscription – Helcim automatically pauses your subscription when you don’t process payments within a month, allowing you to continue with the same subscription the next month. The auto pause feature saves you the worry of paying for a service you didn’t enjoy.
- Free Subscription – to help small businesses, the company waived the first three months subscription fee allowing you to enjoy their services for free.
- Business Suitability – It is not suited for high-risk businesses.
- Plan Range – It has just one plan for you to choose from.
PayPal has been in business for over 20 years and has built a trustworthy reputation for itself. PayPal offers small and medium businesses with low transaction volume, great services.
- Efficiency – PayPal is fast, easy to use, and highly efficient.
- Ease of Setup – the PayPal credit card processor can be set up easily within a short time.
- Payment Options – allows your customers to pay you in various ways. Payments may be made via credit cards, phones, inline. For online payments, you will need PayPal here all. It also offers you the mobile wallet payment option.
- Monthly fees – you get access without having to subscribe monthly. With PayPal, you do not need to sign long term contracts.
- Security – PayPal features several PCI compliance certificates and boasts of keeping your data safe.
- It is not suitable for Big Businesses – It does not work well with a business with high transaction volume.
- No Support – the customer service does not offer you 24/7 call support.
- Freezing of Funds – if your account is suspected to be involved in fraudulent activities, PayPal will freeze it.
4. National Processing
National Processing is a well-known credit card processing company with glowing reviews. It is designed to optimize the payment process of small and medium-sized businesses. It provides you with reliable service at a cheap rate
- Low Subscription Fee – The monthly subscription fee of 10$ allows you to process any orders.
- Transparent Price – National Processing gives you clear prices. All fees are stated clearly in the price list.
- Easy Installation – the installation process is easy.
- Different Plans – you can choose from the various plans offered for the card processing service.
- 24/7 Support – if you have any issues with the card processor, you can contact their support team. They offer round the clock email and phone support for users.
- Termination Penalty – if you terminate your subscription before time, you will be required to pay a fee for termination.
How Can I Choose the Best Credit Card Processing Company for My Business?
The choice of a credit card processing company for your business is a crucial one. The wrong card processing company will pact on your business negatively. It could cause your payment process to be unreliable and tiring.
However, there is no set best credit card processing company. What works for business A may not work well for you.
To solve this issue, we have put together things to help you choose the best processing software for your business. To start, you have to define what you want from your credit card processor.
How Can I Determine What I Want from a Credit Card Processor?
You can determine what business needs your credit card processor has to meet by:
i. Considering Your Sales Method
Most credit card processing companies cater to specific business environments. If you run your business from a brick and mortar store and most of your customers pay in person, you’ll need hardware payment devices.
If most of your payments are made online, you will need to get a payment gateway and support. In this case, you will need card processing software with top-notch tokenization and data protection.
ii. Considering If Your Business Is High or Low-Risk
Some businesses are considered high risk and another low risk. It is important to know where your business falls under.
Some credit card processors will not work with high-risk businesses. To avoid getting a credit card processor that won’t work, you must know if your business is high risk or low risk.
iii. Determining the Economy Scale
Your business may be high volume or low volume in terms of transactions. It is important to know where the category your business falls under. Most credit card processing companies have lower rates for users with high transaction volume.
How to Determine the Credit Card Processing Company to Suit Your Business Needs?
Now that you have identified what needs the credit card processor has to fulfill, it is time to choose one. We have four tips to help you choose the best.
i. Choose a Transparent Credit Card Processing Company
Looking out for a credit processing company is important. Choose a credit card processing company that separates the wholesale from markup cost in their pricing(source). The importance of this is that you don’t have to worry about hidden charges and surprises.
Standardized pricing rates affords you the chance to know about the fees in depth. With the total fee in mind, you can make an informed decision based on your budget.
ii. High-Pressure Credit Card Processing
Credit card processing companies that use high-pressure sales tactics to get you to sign should be avoided at all costs. If your business is a low-risk one, get a card processor with no long term commitment and great customer service.
iii. Select a Credit Card Processor that Offers Value
For your business to thrive, you’ll need to choose a credit card processing company that offers you great value. Usually, the companies that offer you great credit card processing services are expensive but well worth it.
iv. Consider the Reputation of the Company
In business, reputation is everything. We advise that you choose a credit card processor made by a company with a great reputation.
If a credit card processing company has terrible reviews and many complaints about them, the wise course of action will be to avoid them no matter how cheap their service is.
Conclusion: Credit card processing alternatives
Selecting a credit card processing company for your business can be tough. If you have tried the Square card processor and need other alternatives, there are many for you to choose from.
Helcim, PayPal, National Processing, and CDGcommerce are great alternatives. Choose the credit card processing option that is within your budget and meets your business needs.
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