Cheapest Credit Card Processing Companies for Small Business
Hello friends! Are you a small business owner looking for the cheapest credit card processing companies? If yes, then you have come to the right place. In this article, we are going to discuss the top cheapest credit card processing companies that can help your small business grow. So, let’s get started!
The Importance of Finding the Cheapest Credit Card Processing Companies
When you are running a small business, every penny counts. Thus, it is important to find the cheapest credit card processing companies to minimize the fees and charges you will incur for every transaction. By doing so, you can save a lot of money that can be used to improve your business operations or invest in new opportunities.
Factors to Consider in Choosing the Cheapest Credit Card Processing Companies
Before we proceed with our list of the cheapest credit card processing companies, let us first discuss the factors that you should consider when choosing the right provider for your business. These factors include the following:
1. Transaction Fees
Transaction fees are the fees that credit card processing companies charge for each transaction made through their system. These fees are usually a percentage of the total amount of the transaction. Thus, it is essential to choose a credit card processing company that offers the lowest transaction fees.
2. Monthly Fees
Some credit card processing companies charge monthly fees, which can add up to your expenses if you are not careful. Thus, it is important to choose a provider that offers minimal to no monthly fees to save money.
3. Equipment Costs
Some credit card processing companies offer equipment such as card readers or terminals. These equipment come at a cost, which can be a burden to small businesses. So, it is important to look for a provider that offers affordable or free equipment to help you save money.
4. Integration with your Existing Systems
It is important to choose a credit card processing company that can seamlessly integrate with your existing systems such as your POS or accounting software. This will save you time and enable you to focus on other important aspects of your business.
The Top 5 Cheapest Credit Card Processing Companies for Small Businesses
1. Square
Square is a popular credit card processing company that offers affordable transaction fees and a free card reader to its users. It charges 2.6% + 10 cents for every transaction made through its system. Square also offers other services such as online payments, invoicing, and POS integration, which can help small businesses simplify their operations.
2. PayPal
PayPal is another popular credit card processing company that offers low transaction fees of 2.7%. It also offers free equipment such as card readers and offers a seamless integration with most POS and accounting software. Additionally, PayPal offers other services such as invoicing and online payments.
3. Stripe
Stripe is a credit card processing company that offers low transaction fees of 2.9% + 30 cents per transaction. It also offers a seamless integration with most e-commerce platforms and other systems. Stripe also offers other services such as subscriptions and recurring billing, which can be useful for small businesses.
4. Fattmerchant
Fattmerchant is a credit card processing company that offers a subscription-based pricing system. It charges $99 per month plus the interchange fees for each transaction. Fattmerchant also offers a free equipment program and other services such as invoicing and online payments.
5. Dharma Merchant Services
Dharma Merchant Services is a credit card processing company that offers low transaction fees starting at 0.15% + 7 cents per transaction. It charges a monthly fee of $20, which includes a free card reader. Dharma Merchant Services also offers other services such as POS integration and mobile payments.
Conclusion
Choosing the right credit card processing company can be a daunting task for small businesses, especially when trying to keep the costs low. However, by considering the factors we discussed and reviewing our list of the top cheapest credit card processing companies, you can find the right provider that suits your business needs and budget. Remember, every penny saved can help your small business grow and succeed.
Thank you for reading this article, and we hope it has been informative and helpful. See you in our next article!
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