How to choose a payment service provider?

When shopping for the right PSP, start with things like which payment methods and currencies the provider supports, as well as compatibility with your business model. Security and compliance are big considerations, as are fees and pricing structures. Also, donât forget to look at their customer support options and reputation.

Which payment processor is best?

Finding the best payment processor requires some research. The best provider for you can vary based on your business, location, accepted payment methods, customer service needs, and more. At the least, you should look at 3-4 processors before you sign a contract.

What are the 4 most common methods of paying providers?

Payment processing providers work under four different pricing models: flat-rate pricing, interchange plus pricing, tiered pricing, or membership-based pricing.

What percentage do payment processors take?

As a rule, credit card processing fees typically total 1.5% to 3.5% of the transaction. Specific pricing will differ based on the processor and pricing structure you select.

What payment system is best for small businesses?

Shopify Payments, Square, and Stripe are acknowledged as some of the most reputable payment providers for small businesses. The best payment processor for your business, however, will depend on your particular needs.

Author

Brandon Figueroa

Brandon Figueroa is the VP of Operations at Chargebacks911. After joining Chargebacks911 as a Reporting Analyst in 2014, he worked his way through a number of management positions, including serving as the Director Of Client Relations before taking on his current role. He graduated from the University of South Florida in 2014 with a Bachelor’s Degree in Finance.