10 Best Credit Card Processing Companies 2024 – Forbes Advisor

Forbes Advisor analyzed many factors to determine these rankings for the best credit card processing companies. We narrowed our field of contenders to 15 finalists that we scored across six categories of features with 31 different metrics. These were weighted to favor features that benefit small business owners. We then ranked each credit card processor using a five-star rating system, with five out of five being the highest.

Here are more details about the features we researched.

Please note: While we gathered data on pricing and fees, these factors did not directly contribute to the scoring due to the non-uniformity of pricing structures among providers. Therefore, pricing is not listed as a separate category in our methodology.

The expert score forms 20% of our overall evaluation. In this section, we consider various factors that reflect the overall quality and value of the credit card processing company. These factors include standout features that distinguish the company from its competitors, value for money in terms of service provision relative to cost, the company’s popularity in the market and the ease of using its services. These combined aspects create a comprehensive picture of what each provider brings to the table and how they compare to others in the industry.

Payment options form another 20% of our evaluation criteria. Here, we assess the variety and flexibility of payment methods that the company supports. We consider support for modern, contactless payment solutions, such as Apple Pay and Google Pay, integration capabilities with point-of-sale (POS) systems, and whether major credit cards, such as Visa, Mastercard, Discover and American Express, are accepted. Providers that support a broad range of payment methods scored higher in this category as they demonstrate their adaptability to different business and customer needs.

In this category, which constitutes 35% of our overall score, we focus on the core and additional features the company offers. Features under review include the availability of a comprehensive reporting dashboard, invoicing capabilities, options for data exports, support for contactless payments, possibilities for software integrations, PCI compliance for data security and volume-based discounts that can benefit larger businesses. This in-depth examination of features allows us to assess the depth, breadth and utility of the services each provider offers.

This section, accounting for 10% of our evaluation, considers the company’s reputation among its users. We take into account reviews and ratings from trusted review platforms such as Trustpilot, G2 and Capterra. We also include the Better Business Bureau (BBB) rating and examine the ratio of BBB complaints to reviews. This allows us to gauge customer satisfaction levels and provide a real-world perspective on the services offered.

The mobile app category, which contributes 5% to the overall score, evaluates whether the company offers a mobile app and considers the app’s rating on both the iOS App Store and Google Play. This evaluation helps us understand how well the company adapts its services to the mobile platform and whether they meet users’ expectations.

Our final category, contributing 10% of the overall score, looks at the company’s customer support capabilities. We examine the availability of live chat, a knowledge base or help center, phone support and 24/7 customer support availability. Providers that offer extensive and readily available support scored higher, reflecting their commitment to ensuring a smooth user experience and addressing customer issues promptly.