As a small business owner, choosing the right merchant service is crucial for processing payments efficiently. Merchant services offer dedicated merchant accounts, providing greater account stability and competitive rates for processing in-person and online payments. Here are the top merchant services for small businesses:
Top Merchant Services for Small Business:
Helcim – Best overall
PaymentCloud – Best for high-risk businesses
Chase Payment Solutions – Best direct processor
Dharma – Best for transparency
US Bank Merchant Services – Best for fast deposits
Stax – Best for recurring or subscription billing
Why Merchant Services?
Merchant services provide a dedicated merchant account, which offers greater account stability and reduces the risk of frozen funds or accounts. They also offer competitive rates and flexible solutions for processing in-person and online payments.
Key Features and Pricing:
The following table illustrates the key features and pricing for each of our recommended merchant services:
Merchant Service
Monthly Fee
Pricing Structure
Swipe/Chip Transaction Fees
Online Transaction Fees
Helcim
0
Interchange plus
Interchange plus 0.15% + 6 cents
Interchange plus 0.15% + 15 cents
PaymentCloud
10–45
Varies
2%-3.5%
2.8% -4.3%
Chase Payment Solutions
0
Flat-rate or interchange plus
2.6% + 10 cents
2.9% + 25 cents
Dharma
10-$15
Interchange plus
Interchange + 0.15% + 8 cents
Interchange + 0.2% + 11 cents
US Bank
0-99
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My Thoughts
Expert Insights: Top Merchant Services for Small Businesses in 2024
As a small business owner, selecting the right merchant services can be a daunting task. The key differentiator between merchant services and payment processors is the dedicated merchant account, which provides greater account stability and flexibility.
Top Merchant Services for Small Businesses
Our top picks include:
Helcim – Best overall
PaymentCloud – Best for high-risk businesses
Chase Payment Solutions – Best direct processor
Dharma – Best for transparency
US Bank Merchant Services – Best for fast deposits
Stax – Best for recurring or subscription billing
Factors to Consider When Choosing a Merchant Service
When selecting a merchant service, it’s crucial to consider processing fees, pricing structures, and dedicated merchant account benefits. Our top picks offer competitive rates and flexible solutions for processing in-person and online payments.