Credit Card Processing Solutions for Small Businesses

Monday, July 30th, 2018

There are plenty of credit card companies flooding the market, but how does a merchant choose the best one when they all claim to be the most secure and have the best pricing, features, and flexibility.

Companies were assessed through the lens of a secure trading review. Security will be more of motivator in choice as consumer interest in using cryptocurrencies to pay for purchases becomes more popular. This is important since fraud is one of the harshest realities of the digital payment industry. In order to strengthen the security of transactions while maintaining convenience, processors are forced to explore new safety methods, including biometrics.

Biometrics is a type of technology that uses a person’s biological traits, such as fingerprints, DNA, facial recognition, and voice waves. By using biometrics, merchants are able to add another layer of safety because it helps prevent cybersecurity threats and drops rejection rates of authentication. Merchants will also take a hard look at those payment solution providers that use more biometric technology. In addition to these factors, we looked at how some of most popular credit card processors stack up against each other.

Best Credit Card Processor for Secure Small Transactions

First, PayPal, payment aggregator, began its journey into biometrics years ago. In 2014, PayPal, a payment aggregator, entered the biometric arena by partnering with Samsung Galaxy to make mobile and in-store payments using fingerprints. In 2016, Lenovo secured online transactions with finger touches by collaborating with PayPal, Intel, and Synaptics. Also, when using the App Store, PayPal supports Touch ID authentication.

It provides options for a wide variety of users and allows for immediate access to funds. While its many features provide solutions for a host of online merchants, it is best suited for smaller enterprises that have a high volume of small transactions  – think $10 to $20 each – every day.

Best Credit Card Processor for the Hospitality Sector

If you are a retailer or restaurant, Square is the right payment aggregator. It has laid its roots in credit card processing for small businesses, specifically those in retail and hospitality. Merchants have said they love that it is easy to use and that they can begin taking payments in just a few hours.

Additionally, Square has lessened its risk of fraud by ensuring customer data gets stored on its servers instead of devices. As a merchant, you never have to worry about one of your team members walking out with one of your devices and downloading all of your customers’ sensitive information.

Best Credit Card Processor with the Best Customer Service

Many merchants are advocates of the services offered by Cayman Merchant Services because its customer service was prompt and courteous. Customer focus is a priority with Cayman, which is why is succeed when it comes to assisting customers with service and product support.

Best Overall Credit Card Processor for Small Businesses is the best option for merchants that process no more than $75,000 in transactions each month. It’s the ideal choice for startups since it doesn’t require any set-up costs or upfront fees.

The Final Thought

When the times comes to pick a processor, consider our secure trading review, and also make a choice based on cost, transparency, terms and conditions, contract length, early cancellation fees, equipment rental terms, customer service, fund holds, ease of use, and most importantly security and fraud protection.

In the end, you need to find credit card processing that works best for your specific needs. Security is an issue, but many other factors may be much higher priorities for your business. Knowing what you need to succeed is half the battle when choosing a processor.

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