Best Software for 2025 is now live!

Best Payment Processing Software

Subhransu Sahu
SS
Researched and written by Subhransu Sahu

Payment processing software provides businesses with the means to process multiple types of business-to-business (B2B) payments. Companies use this type of software to manage payments received from business customers and made to suppliers. Any business that accepts payments in a method other than cash can benefit from payment processing software. This type of software is used mostly by accounting teams to ensure that payments are submitted on time and to avoid payment errors.

Payment processing software integrates with payment gateways, accounting software, as well as AP automation software. Also, payment processing software is often used in conjunction with e-commerce platforms and retail POS system.

To qualify for inclusion in the Payment Processing category, a product must:

Collect customer payment information and relay it to a bank for approval or denial
Transmit approval or denial of a transaction back to the customer or merchant
Support multiple payment methods such as credit card, ACH, or wire transfer
Define and track customizable payment rules, terms, and deadlines
Identify errors such as late payments, overpayments, or failed transactions
Integrate with ERP, accounting, or accounts receivable and accounts payable systems

Best Payment Processing Software At A Glance

Best for Small Businesses:
Best for Mid-Market:
Best for Enterprise:
Highest User Satisfaction:
Best Free Software:
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Best for Enterprise:
Highest User Satisfaction:
Best Free Software:

G2 takes pride in showing unbiased reviews on user satisfaction in our ratings and reports. We do not allow paid placements in any of our ratings, rankings, or reports. Learn about our scoring methodologies.

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536 Listings in Payment Processing Available
(2,121)4.4 out of 5
14th Easiest To Use in Payment Processing software
Save to My Lists
Entry Level Price:$0 per month
  • Overview
    Expand/Collapse Overview
  • Product Description
    How are these determined?Information
    This description is provided by the seller.

    PayPal for business has everything you need to sell online and in person. Grow your business with our payment solutions, from online checkout to POS systems.

    Users
    • Owner
    • Software Engineer
    Industries
    • Marketing and Advertising
    • Information Technology and Services
    Market Segment
    • 63% Small-Business
    • 26% Mid-Market
  • Pros and Cons
    Expand/Collapse Pros and Cons
  • PayPal Payments Pros and Cons
    How are these determined?Information
    Pros and Cons are compiled from review feedback and grouped into themes to provide an easy-to-understand summary of user reviews.
    Pros
    Ease of Use
    141
    Easy Payments
    83
    Security
    69
    Convenience
    53
    International Transfers
    48
    Cons
    High Fees
    71
    Expensive
    49
    Funds Holding
    42
    Poor Customer Support
    40
    Billing Issues
    36
  • User Satisfaction
    Expand/Collapse User Satisfaction
  • PayPal Payments features and usability ratings that predict user satisfaction
    8.0
    Has the product been a good partner in doing business?
    Average: 8.7
    8.8
    Online payment portal
    Average: 8.5
    8.2
    Level 3
    Average: 7.8
    8.4
    Accounting integration
    Average: 8.3
  • Seller Details
    Expand/Collapse Seller Details
  • Seller Details
    Seller
    PayPal
    Company Website
    Year Founded
    1998
    HQ Location
    San Jose, CA
    Twitter
    @PayPal
    1,085,248 Twitter followers
    LinkedIn® Page
    www.linkedin.com
    32,026 employees on LinkedIn®
Product Description
How are these determined?Information
This description is provided by the seller.

PayPal for business has everything you need to sell online and in person. Grow your business with our payment solutions, from online checkout to POS systems.

Users
  • Owner
  • Software Engineer
Industries
  • Marketing and Advertising
  • Information Technology and Services
Market Segment
  • 63% Small-Business
  • 26% Mid-Market
PayPal Payments Pros and Cons
How are these determined?Information
Pros and Cons are compiled from review feedback and grouped into themes to provide an easy-to-understand summary of user reviews.
Pros
Ease of Use
141
Easy Payments
83
Security
69
Convenience
53
International Transfers
48
Cons
High Fees
71
Expensive
49
Funds Holding
42
Poor Customer Support
40
Billing Issues
36
PayPal Payments features and usability ratings that predict user satisfaction
8.0
Has the product been a good partner in doing business?
Average: 8.7
8.8
Online payment portal
Average: 8.5
8.2
Level 3
Average: 7.8
8.4
Accounting integration
Average: 8.3
Seller Details
Seller
PayPal
Company Website
Year Founded
1998
HQ Location
San Jose, CA
Twitter
@PayPal
1,085,248 Twitter followers
LinkedIn® Page
www.linkedin.com
32,026 employees on LinkedIn®
(539)4.5 out of 5
15th Easiest To Use in Payment Processing software
Save to My Lists
  • Overview
    Expand/Collapse Overview
  • Product Description
    How are these determined?Information
    This description is provided by the seller.

    Amazon Pay makes it simple for hundreds of millions of customers around the globe to pay for products and services using the information already stored in their Amazon accounts. It’s a familiar buying

    Users
    • Software Engineer
    • Student
    Industries
    • Information Technology and Services
    • Computer Software
    Market Segment
    • 57% Small-Business
    • 33% Mid-Market
  • Pros and Cons
    Expand/Collapse Pros and Cons
  • Amazon Pay for Business Pros and Cons
    How are these determined?Information
    Pros and Cons are compiled from review feedback and grouped into themes to provide an easy-to-understand summary of user reviews.
    Pros
    Ease of Use
    7
    Easy Payments
    5
    Security
    4
    Customer Support
    3
    Response Time
    3
    Cons
    Complex Interface
    1
    Connection Issues
    1
    Integration Issues
    1
    Slow Performance
    1
  • User Satisfaction
    Expand/Collapse User Satisfaction
  • Amazon Pay for Business features and usability ratings that predict user satisfaction
    8.5
    Has the product been a good partner in doing business?
    Average: 8.7
    9.2
    Online payment portal
    Average: 8.5
    8.6
    Level 3
    Average: 7.8
    8.8
    Accounting integration
    Average: 8.3
  • Seller Details
    Expand/Collapse Seller Details
  • Seller Details
    Seller
    Amazon
    Year Founded
    1994
    HQ Location
    Seattle, WA
    Twitter
    @amazon
    6,020,295 Twitter followers
    LinkedIn® Page
    www.linkedin.com
    730,927 employees on LinkedIn®
    Ownership
    AMZN
Product Description
How are these determined?Information
This description is provided by the seller.

Amazon Pay makes it simple for hundreds of millions of customers around the globe to pay for products and services using the information already stored in their Amazon accounts. It’s a familiar buying

Users
  • Software Engineer
  • Student
Industries
  • Information Technology and Services
  • Computer Software
Market Segment
  • 57% Small-Business
  • 33% Mid-Market
Amazon Pay for Business Pros and Cons
How are these determined?Information
Pros and Cons are compiled from review feedback and grouped into themes to provide an easy-to-understand summary of user reviews.
Pros
Ease of Use
7
Easy Payments
5
Security
4
Customer Support
3
Response Time
3
Cons
Complex Interface
1
Connection Issues
1
Integration Issues
1
Slow Performance
1
Amazon Pay for Business features and usability ratings that predict user satisfaction
8.5
Has the product been a good partner in doing business?
Average: 8.7
9.2
Online payment portal
Average: 8.5
8.6
Level 3
Average: 7.8
8.8
Accounting integration
Average: 8.3
Seller Details
Seller
Amazon
Year Founded
1994
HQ Location
Seattle, WA
Twitter
@amazon
6,020,295 Twitter followers
LinkedIn® Page
www.linkedin.com
730,927 employees on LinkedIn®
Ownership
AMZN

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(887)4.5 out of 5
Optimized for quick response
2nd Easiest To Use in Payment Processing software
View top Consulting Services for FreshBooks
Save to My Lists
90% off
  • Overview
    Expand/Collapse Overview
  • Product Description
    How are these determined?Information
    This description is provided by the seller.

    FreshBooks is an online accounting and invoicing platform that saves you time, automates your admin, and keeps your books organized and your business looking professional. FreshBooks believes financia

    Users
    • Owner
    • Founder
    Industries
    • Marketing and Advertising
    • Information Technology and Services
    Market Segment
    • 86% Small-Business
    • 9% Mid-Market
    User Sentiment
    How are these determined?Information
    These insights, currently in beta, are compiled from user reviews and grouped to display a high-level overview of the software.
    • FreshBooks is a financial management software that offers features such as invoicing, time tracking, and expense tracking.
    • Reviewers frequently mention the ease of use, the clean and intuitive interface, the efficient invoicing and time tracking capabilities, and the excellent customer support as key benefits of using FreshBooks.
    • Users experienced issues such as difficulty in issuing refunds, long waiting times for payments, lack of native cashflow statement, and limitations in customization and reporting features.
  • Pros and Cons
    Expand/Collapse Pros and Cons
  • FreshBooks Pros and Cons
    How are these determined?Information
    Pros and Cons are compiled from review feedback and grouped into themes to provide an easy-to-understand summary of user reviews.
    Pros
    Ease of Use
    204
    Customer Support
    111
    Invoicing
    103
    Helpful
    89
    Invoice Management
    84
    Cons
    Missing Features
    60
    Expensive
    36
    Pricing Issues
    35
    Invoicing Issues
    34
    Payment Issues
    34
  • User Satisfaction
    Expand/Collapse User Satisfaction
  • FreshBooks features and usability ratings that predict user satisfaction
    9.2
    Has the product been a good partner in doing business?
    Average: 8.7
    8.4
    Online payment portal
    Average: 8.5
    7.1
    Level 3
    Average: 7.8
    7.5
    Accounting integration
    Average: 8.3
  • Seller Details
    Expand/Collapse Seller Details
  • Seller Details
    Company Website
    Year Founded
    2003
    HQ Location
    Toronto
    Twitter
    @freshbooks
    28,901 Twitter followers
    LinkedIn® Page
    www.linkedin.com
    489 employees on LinkedIn®
Product Description
How are these determined?Information
This description is provided by the seller.

FreshBooks is an online accounting and invoicing platform that saves you time, automates your admin, and keeps your books organized and your business looking professional. FreshBooks believes financia

Users
  • Owner
  • Founder
Industries
  • Marketing and Advertising
  • Information Technology and Services
Market Segment
  • 86% Small-Business
  • 9% Mid-Market
User Sentiment
How are these determined?Information
These insights, currently in beta, are compiled from user reviews and grouped to display a high-level overview of the software.
  • FreshBooks is a financial management software that offers features such as invoicing, time tracking, and expense tracking.
  • Reviewers frequently mention the ease of use, the clean and intuitive interface, the efficient invoicing and time tracking capabilities, and the excellent customer support as key benefits of using FreshBooks.
  • Users experienced issues such as difficulty in issuing refunds, long waiting times for payments, lack of native cashflow statement, and limitations in customization and reporting features.
FreshBooks Pros and Cons
How are these determined?Information
Pros and Cons are compiled from review feedback and grouped into themes to provide an easy-to-understand summary of user reviews.
Pros
Ease of Use
204
Customer Support
111
Invoicing
103
Helpful
89
Invoice Management
84
Cons
Missing Features
60
Expensive
36
Pricing Issues
35
Invoicing Issues
34
Payment Issues
34
FreshBooks features and usability ratings that predict user satisfaction
9.2
Has the product been a good partner in doing business?
Average: 8.7
8.4
Online payment portal
Average: 8.5
7.1
Level 3
Average: 7.8
7.5
Accounting integration
Average: 8.3
Seller Details
Company Website
Year Founded
2003
HQ Location
Toronto
Twitter
@freshbooks
28,901 Twitter followers
LinkedIn® Page
www.linkedin.com
489 employees on LinkedIn®
(343)4.2 out of 5
View top Consulting Services for Stripe Payments
Save to My Lists
  • Overview
    Expand/Collapse Overview
  • Product Description
    How are these determined?Information
    This description is provided by the seller.

    Stripe’s Payments platform helps you accept credit cards, debit cards, and popular payment methods around the world. Our easy-to-use APIs, no-code payments options, and software solutions enable you t

    Users
    • CEO
    • Owner
    Industries
    • Computer Software
    • Information Technology and Services
    Market Segment
    • 78% Small-Business
    • 17% Mid-Market
  • Pros and Cons
    Expand/Collapse Pros and Cons
  • Stripe Payments Pros and Cons
    How are these determined?Information
    Pros and Cons are compiled from review feedback and grouped into themes to provide an easy-to-understand summary of user reviews.
    Pros
    Ease of Use
    48
    Easy Payments
    40
    Easy Integrations
    25
    Customer Support
    13
    Integrations
    9
    Cons
    High Fees
    20
    Payment Issues
    14
    Poor Customer Support
    12
    Delays
    8
    Funds Holding
    7
  • User Satisfaction
    Expand/Collapse User Satisfaction
  • Stripe Payments features and usability ratings that predict user satisfaction
    8.5
    Has the product been a good partner in doing business?
    Average: 8.7
    8.6
    Online payment portal
    Average: 8.5
    8.0
    Level 3
    Average: 7.8
    8.4
    Accounting integration
    Average: 8.3
  • Seller Details
    Expand/Collapse Seller Details
  • Seller Details
    Seller
    Stripe
    Company Website
    Year Founded
    2010
    HQ Location
    San Francisco, CA
    Twitter
    @stripe
    249,054 Twitter followers
    LinkedIn® Page
    www.linkedin.com
    10,671 employees on LinkedIn®
Product Description
How are these determined?Information
This description is provided by the seller.

Stripe’s Payments platform helps you accept credit cards, debit cards, and popular payment methods around the world. Our easy-to-use APIs, no-code payments options, and software solutions enable you t

Users
  • CEO
  • Owner
Industries
  • Computer Software
  • Information Technology and Services
Market Segment
  • 78% Small-Business
  • 17% Mid-Market
Stripe Payments Pros and Cons
How are these determined?Information
Pros and Cons are compiled from review feedback and grouped into themes to provide an easy-to-understand summary of user reviews.
Pros
Ease of Use
48
Easy Payments
40
Easy Integrations
25
Customer Support
13
Integrations
9
Cons
High Fees
20
Payment Issues
14
Poor Customer Support
12
Delays
8
Funds Holding
7
Stripe Payments features and usability ratings that predict user satisfaction
8.5
Has the product been a good partner in doing business?
Average: 8.7
8.6
Online payment portal
Average: 8.5
8.0
Level 3
Average: 7.8
8.4
Accounting integration
Average: 8.3
Seller Details
Seller
Stripe
Company Website
Year Founded
2010
HQ Location
San Francisco, CA
Twitter
@stripe
249,054 Twitter followers
LinkedIn® Page
www.linkedin.com
10,671 employees on LinkedIn®
(414)4.6 out of 5
Optimized for quick response
7th Easiest To Use in Payment Processing software
Save to My Lists
Entry Level Price:$228.00
  • Overview
    Expand/Collapse Overview
  • Product Description
    How are these determined?Information
    This description is provided by the seller.

    Thryv is a do-it-all business management software that helps you streamline your business so you can get back to the things you love. Small business owners communicate better, solve more business chal

    Users
    • Owner
    • President
    Industries
    • Construction
    • Consumer Services
    Market Segment
    • 97% Small-Business
    • 3% Mid-Market
    User Sentiment
    How are these determined?Information
    These insights, currently in beta, are compiled from user reviews and grouped to display a high-level overview of the software.
    • Thryv is a software that integrates various features such as scheduling, account management, and communication into one platform for businesses.
    • Reviewers frequently mention the convenience of having all features in one place, the ease of use, and the helpful customer service.
    • Users reported issues with slow customer service response, software bugs affecting client information, and lack of certain features such as inventory management and customizable forms.
  • Pros and Cons
    Expand/Collapse Pros and Cons
  • Thryv Pros and Cons
    How are these determined?Information
    Pros and Cons are compiled from review feedback and grouped into themes to provide an easy-to-understand summary of user reviews.
    Pros
    Ease of Use
    101
    Customer Support
    81
    Helpful
    65
    Customer Service
    59
    Centralized Management
    38
    Cons
    Missing Features
    18
    Learning Curve
    12
    Poor Customer Support
    11
    Expensive
    10
    Limited Features
    10
  • User Satisfaction
    Expand/Collapse User Satisfaction
  • Thryv features and usability ratings that predict user satisfaction
    9.4
    Has the product been a good partner in doing business?
    Average: 8.7
    9.4
    Online payment portal
    Average: 8.5
    8.5
    Level 3
    Average: 7.8
    8.5
    Accounting integration
    Average: 8.3
  • Seller Details
    Expand/Collapse Seller Details
  • Seller Details
    Seller
    Thryv
    Company Website
    Year Founded
    2012
    HQ Location
    Atlanta, GA
    Twitter
    @thryv
    8,786 Twitter followers
    LinkedIn® Page
    www.linkedin.com
    5,096 employees on LinkedIn®
Product Description
How are these determined?Information
This description is provided by the seller.

Thryv is a do-it-all business management software that helps you streamline your business so you can get back to the things you love. Small business owners communicate better, solve more business chal

Users
  • Owner
  • President
Industries
  • Construction
  • Consumer Services
Market Segment
  • 97% Small-Business
  • 3% Mid-Market
User Sentiment
How are these determined?Information
These insights, currently in beta, are compiled from user reviews and grouped to display a high-level overview of the software.
  • Thryv is a software that integrates various features such as scheduling, account management, and communication into one platform for businesses.
  • Reviewers frequently mention the convenience of having all features in one place, the ease of use, and the helpful customer service.
  • Users reported issues with slow customer service response, software bugs affecting client information, and lack of certain features such as inventory management and customizable forms.
Thryv Pros and Cons
How are these determined?Information
Pros and Cons are compiled from review feedback and grouped into themes to provide an easy-to-understand summary of user reviews.
Pros
Ease of Use
101
Customer Support
81
Helpful
65
Customer Service
59
Centralized Management
38
Cons
Missing Features
18
Learning Curve
12
Poor Customer Support
11
Expensive
10
Limited Features
10
Thryv features and usability ratings that predict user satisfaction
9.4
Has the product been a good partner in doing business?
Average: 8.7
9.4
Online payment portal
Average: 8.5
8.5
Level 3
Average: 7.8
8.5
Accounting integration
Average: 8.3
Seller Details
Seller
Thryv
Company Website
Year Founded
2012
HQ Location
Atlanta, GA
Twitter
@thryv
8,786 Twitter followers
LinkedIn® Page
www.linkedin.com
5,096 employees on LinkedIn®
(64)4.6 out of 5
12th Easiest To Use in Payment Processing software
Save to My Lists
  • Overview
    Expand/Collapse Overview
  • Product Description
    How are these determined?Information
    This description is provided by the seller.

    Checkout.com is a cloud-based payments platform – and their mission is to enable businesses and their communities to thrive in the digital economy. Checkout.com’s modular technology allows businesses

    Users
    No information available
    Industries
    • Financial Services
    • Retail
    Market Segment
    • 41% Mid-Market
    • 36% Small-Business
  • Pros and Cons
    Expand/Collapse Pros and Cons
  • checkout.com Pros and Cons
    How are these determined?Information
    Pros and Cons are compiled from review feedback and grouped into themes to provide an easy-to-understand summary of user reviews.
    Pros
    Customer Support
    29
    Ease of Use
    23
    Helpful
    22
    Easy Integrations
    13
    Reliability
    12
    Cons
    Missing Features
    9
    Limited Features
    8
    Expensive
    6
    Excessive Fees
    5
    High Fees
    5
  • User Satisfaction
    Expand/Collapse User Satisfaction
  • checkout.com features and usability ratings that predict user satisfaction
    9.2
    Has the product been a good partner in doing business?
    Average: 8.7
    8.7
    Online payment portal
    Average: 8.5
    8.5
    Level 3
    Average: 7.8
    7.8
    Accounting integration
    Average: 8.3
  • Seller Details
    Expand/Collapse Seller Details
  • Seller Details
    Company Website
    Year Founded
    2012
    HQ Location
    London, United Kingdom
    Twitter
    @Checkout
    9,807 Twitter followers
    LinkedIn® Page
    www.linkedin.com
    1,952 employees on LinkedIn®
Product Description
How are these determined?Information
This description is provided by the seller.

Checkout.com is a cloud-based payments platform – and their mission is to enable businesses and their communities to thrive in the digital economy. Checkout.com’s modular technology allows businesses

Users
No information available
Industries
  • Financial Services
  • Retail
Market Segment
  • 41% Mid-Market
  • 36% Small-Business
checkout.com Pros and Cons
How are these determined?Information
Pros and Cons are compiled from review feedback and grouped into themes to provide an easy-to-understand summary of user reviews.
Pros
Customer Support
29
Ease of Use
23
Helpful
22
Easy Integrations
13
Reliability
12
Cons
Missing Features
9
Limited Features
8
Expensive
6
Excessive Fees
5
High Fees
5
checkout.com features and usability ratings that predict user satisfaction
9.2
Has the product been a good partner in doing business?
Average: 8.7
8.7
Online payment portal
Average: 8.5
8.5
Level 3
Average: 7.8
7.8
Accounting integration
Average: 8.3
Seller Details
Company Website
Year Founded
2012
HQ Location
London, United Kingdom
Twitter
@Checkout
9,807 Twitter followers
LinkedIn® Page
www.linkedin.com
1,952 employees on LinkedIn®
(3,136)4.7 out of 5
Optimized for quick response
6th Easiest To Use in Payment Processing software
Save to My Lists
  • Overview
    Expand/Collapse Overview
  • Product Description
    How are these determined?Information
    This description is provided by the seller.

    Birdeye is the top-rated reputation, social media, and customer experience platform for local brands and multi-location businesses. Over 150,000 businesses leverage Birdeye’s AI-powered platform to ge

    Users
    • Owner
    • Marketing Manager
    Industries
    • Hospital & Health Care
    • Real Estate
    Market Segment
    • 56% Small-Business
    • 35% Mid-Market
    User Sentiment
    How are these determined?Information
    These insights, currently in beta, are compiled from user reviews and grouped to display a high-level overview of the software.
    • Birdeye is a platform that helps businesses manage their reputation and customer experience, offering features such as review management, customer engagement, and analytics.
    • Reviewers like the platform's ability to aggregate reviews across multiple channels, its user-friendly interface, and the convenience of having all customer feedback in one place.
    • Users reported issues with the platform's pricing, occasional glitches, and difficulties in understanding and navigating the interface, especially for those who are not tech-savvy.
  • Pros and Cons
    Expand/Collapse Pros and Cons
  • Birdeye Pros and Cons
    How are these determined?Information
    Pros and Cons are compiled from review feedback and grouped into themes to provide an easy-to-understand summary of user reviews.
    Pros
    Ease of Use
    1,096
    Helpful
    1,059
    Review Management
    972
    Customer Support
    690
    Reviews
    606
    Cons
    Missing Features
    201
    Review Management
    183
    Integration Issues
    151
    Learning Curve
    136
    Limitations
    131
  • User Satisfaction
    Expand/Collapse User Satisfaction
  • Birdeye features and usability ratings that predict user satisfaction
    9.5
    Has the product been a good partner in doing business?
    Average: 8.7
    9.0
    Online payment portal
    Average: 8.5
    8.4
    Level 3
    Average: 7.8
    8.4
    Accounting integration
    Average: 8.3
  • Seller Details
    Expand/Collapse Seller Details
  • Seller Details
    Seller
    Birdeye
    Company Website
    Year Founded
    2012
    HQ Location
    Palo Alto, CA
    Twitter
    @BirdEye_
    5,296 Twitter followers
    LinkedIn® Page
    www.linkedin.com
    1,264 employees on LinkedIn®
Product Description
How are these determined?Information
This description is provided by the seller.

Birdeye is the top-rated reputation, social media, and customer experience platform for local brands and multi-location businesses. Over 150,000 businesses leverage Birdeye’s AI-powered platform to ge

Users
  • Owner
  • Marketing Manager
Industries
  • Hospital & Health Care
  • Real Estate
Market Segment
  • 56% Small-Business
  • 35% Mid-Market
User Sentiment
How are these determined?Information
These insights, currently in beta, are compiled from user reviews and grouped to display a high-level overview of the software.
  • Birdeye is a platform that helps businesses manage their reputation and customer experience, offering features such as review management, customer engagement, and analytics.
  • Reviewers like the platform's ability to aggregate reviews across multiple channels, its user-friendly interface, and the convenience of having all customer feedback in one place.
  • Users reported issues with the platform's pricing, occasional glitches, and difficulties in understanding and navigating the interface, especially for those who are not tech-savvy.
Birdeye Pros and Cons
How are these determined?Information
Pros and Cons are compiled from review feedback and grouped into themes to provide an easy-to-understand summary of user reviews.
Pros
Ease of Use
1,096
Helpful
1,059
Review Management
972
Customer Support
690
Reviews
606
Cons
Missing Features
201
Review Management
183
Integration Issues
151
Learning Curve
136
Limitations
131
Birdeye features and usability ratings that predict user satisfaction
9.5
Has the product been a good partner in doing business?
Average: 8.7
9.0
Online payment portal
Average: 8.5
8.4
Level 3
Average: 7.8
8.4
Accounting integration
Average: 8.3
Seller Details
Seller
Birdeye
Company Website
Year Founded
2012
HQ Location
Palo Alto, CA
Twitter
@BirdEye_
5,296 Twitter followers
LinkedIn® Page
www.linkedin.com
1,264 employees on LinkedIn®
(123)4.8 out of 5
4th Easiest To Use in Payment Processing software
Save to My Lists
Entry Level Price:Free
  • Overview
    Expand/Collapse Overview
  • Product Description
    How are these determined?Information
    This description is provided by the seller.

    Wallester is a financial technology company that helps businesses to have an absolutely new approach to companies’ expense management and optimization. Being an official Visa partner Wallester Busines

    Users
    No information available
    Industries
    • Telecommunications
    • Information Technology and Services
    Market Segment
    • 40% Mid-Market
    • 38% Small-Business
  • Pros and Cons
    Expand/Collapse Pros and Cons
  • Wallester Pros and Cons
    How are these determined?Information
    Pros and Cons are compiled from review feedback and grouped into themes to provide an easy-to-understand summary of user reviews.
    Pros
    Ease of Use
    90
    Features
    53
    Customer Support
    48
    Security
    46
    Efficiency
    44
    Cons
    Slow Performance
    10
    Expensive
    8
    Pricing Issues
    8
    Card Issues
    7
    Integration Issues
    7
  • User Satisfaction
    Expand/Collapse User Satisfaction
  • Wallester features and usability ratings that predict user satisfaction
    9.4
    Has the product been a good partner in doing business?
    Average: 8.7
    9.5
    Online payment portal
    Average: 8.5
    8.7
    Level 3
    Average: 7.8
    9.5
    Accounting integration
    Average: 8.3
  • Seller Details
    Expand/Collapse Seller Details
  • Seller Details
    Seller
    Wallester
    Company Website
    Year Founded
    2016
    HQ Location
    Tallinn, Estonia
    Twitter
    @Wallester_com
    248 Twitter followers
    LinkedIn® Page
    www.linkedin.com
    130 employees on LinkedIn®
Product Description
How are these determined?Information
This description is provided by the seller.

Wallester is a financial technology company that helps businesses to have an absolutely new approach to companies’ expense management and optimization. Being an official Visa partner Wallester Busines

Users
No information available
Industries
  • Telecommunications
  • Information Technology and Services
Market Segment
  • 40% Mid-Market
  • 38% Small-Business
Wallester Pros and Cons
How are these determined?Information
Pros and Cons are compiled from review feedback and grouped into themes to provide an easy-to-understand summary of user reviews.
Pros
Ease of Use
90
Features
53
Customer Support
48
Security
46
Efficiency
44
Cons
Slow Performance
10
Expensive
8
Pricing Issues
8
Card Issues
7
Integration Issues
7
Wallester features and usability ratings that predict user satisfaction
9.4
Has the product been a good partner in doing business?
Average: 8.7
9.5
Online payment portal
Average: 8.5
8.7
Level 3
Average: 7.8
9.5
Accounting integration
Average: 8.3
Seller Details
Seller
Wallester
Company Website
Year Founded
2016
HQ Location
Tallinn, Estonia
Twitter
@Wallester_com
248 Twitter followers
LinkedIn® Page
www.linkedin.com
130 employees on LinkedIn®
(211)4.5 out of 5
Save to My Lists
  • Overview
    Expand/Collapse Overview
  • Product Description
    How are these determined?Information
    This description is provided by the seller.

    Give customers a seamless payment option with Venmo at checkout on your mobile website or app, and reap the social benefits of the Venmo platform—far beyond the moment of purchase.

    Users
    No information available
    Industries
    • Marketing and Advertising
    • Information Technology and Services
    Market Segment
    • 68% Small-Business
    • 19% Mid-Market
  • Pros and Cons
    Expand/Collapse Pros and Cons
  • Venmo Pros and Cons
    How are these determined?Information
    Pros and Cons are compiled from review feedback and grouped into themes to provide an easy-to-understand summary of user reviews.
    Pros
    Ease of Use
    16
    Easy Payments
    8
    Easy Integrations
    2
    Easy Setup
    2
    Account Management
    1
    Cons
    High Fees
    5
    Limited Access
    3
    Missing Features
    3
    Connection Issues
    2
    Expensive
    2
  • User Satisfaction
    Expand/Collapse User Satisfaction
  • Venmo features and usability ratings that predict user satisfaction
    7.9
    Has the product been a good partner in doing business?
    Average: 8.7
    8.3
    Online payment portal
    Average: 8.5
    7.2
    Level 3
    Average: 7.8
    8.2
    Accounting integration
    Average: 8.3
  • Seller Details
    Expand/Collapse Seller Details
  • Seller Details
    Seller
    PayPal
    Year Founded
    1998
    HQ Location
    San Jose, CA
    Twitter
    @PayPal
    1,085,248 Twitter followers
    LinkedIn® Page
    www.linkedin.com
    32,026 employees on LinkedIn®
    Ownership
    PYPL
Product Description
How are these determined?Information
This description is provided by the seller.

Give customers a seamless payment option with Venmo at checkout on your mobile website or app, and reap the social benefits of the Venmo platform—far beyond the moment of purchase.

Users
No information available
Industries
  • Marketing and Advertising
  • Information Technology and Services
Market Segment
  • 68% Small-Business
  • 19% Mid-Market
Venmo Pros and Cons
How are these determined?Information
Pros and Cons are compiled from review feedback and grouped into themes to provide an easy-to-understand summary of user reviews.
Pros
Ease of Use
16
Easy Payments
8
Easy Integrations
2
Easy Setup
2
Account Management
1
Cons
High Fees
5
Limited Access
3
Missing Features
3
Connection Issues
2
Expensive
2
Venmo features and usability ratings that predict user satisfaction
7.9
Has the product been a good partner in doing business?
Average: 8.7
8.3
Online payment portal
Average: 8.5
7.2
Level 3
Average: 7.8
8.2
Accounting integration
Average: 8.3
Seller Details
Seller
PayPal
Year Founded
1998
HQ Location
San Jose, CA
Twitter
@PayPal
1,085,248 Twitter followers
LinkedIn® Page
www.linkedin.com
32,026 employees on LinkedIn®
Ownership
PYPL
(82)4.7 out of 5
8th Easiest To Use in Payment Processing software
Save to My Lists
Entry Level Price:$39.00
  • Overview
    Expand/Collapse Overview
  • Product Description
    How are these determined?Information
    This description is provided by the seller.

    From proposals to payments, Ignition simplifies every step—empowering professional services to sell, bill, and get paid. Automate agreements, billing, payment collection and workflows to boost efficie

    Users
    • Owner
    Industries
    • Accounting
    Market Segment
    • 93% Small-Business
    • 5% Mid-Market
  • Pros and Cons
    Expand/Collapse Pros and Cons
  • Ignition Pros and Cons
    How are these determined?Information
    Pros and Cons are compiled from review feedback and grouped into themes to provide an easy-to-understand summary of user reviews.
    Pros
    Ease of Use
    37
    Customer Support
    27
    Proposal Management
    21
    Time-saving
    21
    Efficiency
    19
    Cons
    Expensive
    9
    Missing Features
    7
    Learning Curve
    6
    Limited Customization
    6
    Payment Issues
    6
  • User Satisfaction
    Expand/Collapse User Satisfaction
  • Ignition features and usability ratings that predict user satisfaction
    9.5
    Has the product been a good partner in doing business?
    Average: 8.7
    8.3
    Online payment portal
    Average: 8.5
    7.7
    Level 3
    Average: 7.8
    9.1
    Accounting integration
    Average: 8.3
  • Seller Details
    Expand/Collapse Seller Details
  • Seller Details
    Seller
    Ignition
    Company Website
    Year Founded
    2011
    HQ Location
    Chippendale, Australia
    Twitter
    @ignitionapp
    11,349 Twitter followers
    LinkedIn® Page
    www.linkedin.com
    270 employees on LinkedIn®
Product Description
How are these determined?Information
This description is provided by the seller.

From proposals to payments, Ignition simplifies every step—empowering professional services to sell, bill, and get paid. Automate agreements, billing, payment collection and workflows to boost efficie

Users
  • Owner
Industries
  • Accounting
Market Segment
  • 93% Small-Business
  • 5% Mid-Market
Ignition Pros and Cons
How are these determined?Information
Pros and Cons are compiled from review feedback and grouped into themes to provide an easy-to-understand summary of user reviews.
Pros
Ease of Use
37
Customer Support
27
Proposal Management
21
Time-saving
21
Efficiency
19
Cons
Expensive
9
Missing Features
7
Learning Curve
6
Limited Customization
6
Payment Issues
6
Ignition features and usability ratings that predict user satisfaction
9.5
Has the product been a good partner in doing business?
Average: 8.7
8.3
Online payment portal
Average: 8.5
7.7
Level 3
Average: 7.8
9.1
Accounting integration
Average: 8.3
Seller Details
Seller
Ignition
Company Website
Year Founded
2011
HQ Location
Chippendale, Australia
Twitter
@ignitionapp
11,349 Twitter followers
LinkedIn® Page
www.linkedin.com
270 employees on LinkedIn®
(171)4.6 out of 5
1st Easiest To Use in Payment Processing software
Save to My Lists
  • Overview
    Expand/Collapse Overview
  • Product Description
    How are these determined?Information
    This description is provided by the seller.

    Paymerang provides a streamlined invoice and payment automation platform that brings Accounts Payable (AP) departments into the modern age. Paymerang's platform saves AP departments thousands of hours

    Users
    • Controller
    Industries
    • Primary/Secondary Education
    • Education Management
    Market Segment
    • 81% Mid-Market
    • 11% Small-Business
  • Pros and Cons
    Expand/Collapse Pros and Cons
  • Paymerang Pros and Cons
    How are these determined?Information
    Pros and Cons are compiled from review feedback and grouped into themes to provide an easy-to-understand summary of user reviews.
    Pros
    Customer Support
    50
    Ease of Use
    46
    Time-saving
    39
    Payment Processing
    34
    Easy Payments
    31
    Cons
    Vendor Management
    26
    Payment Issues
    22
    Delays
    10
    Payment Processing
    10
    Login Issues
    9
  • User Satisfaction
    Expand/Collapse User Satisfaction
  • Paymerang features and usability ratings that predict user satisfaction
    9.5
    Has the product been a good partner in doing business?
    Average: 8.7
    8.9
    Online payment portal
    Average: 8.5
    8.2
    Level 3
    Average: 7.8
    8.8
    Accounting integration
    Average: 8.3
  • Seller Details
    Expand/Collapse Seller Details
  • Seller Details
    Seller
    Paymerang
    Year Founded
    2010
    HQ Location
    Richmond, Virginia
    Twitter
    @paymerang
    187 Twitter followers
    LinkedIn® Page
    www.linkedin.com
    139 employees on LinkedIn®
Product Description
How are these determined?Information
This description is provided by the seller.

Paymerang provides a streamlined invoice and payment automation platform that brings Accounts Payable (AP) departments into the modern age. Paymerang's platform saves AP departments thousands of hours

Users
  • Controller
Industries
  • Primary/Secondary Education
  • Education Management
Market Segment
  • 81% Mid-Market
  • 11% Small-Business
Paymerang Pros and Cons
How are these determined?Information
Pros and Cons are compiled from review feedback and grouped into themes to provide an easy-to-understand summary of user reviews.
Pros
Customer Support
50
Ease of Use
46
Time-saving
39
Payment Processing
34
Easy Payments
31
Cons
Vendor Management
26
Payment Issues
22
Delays
10
Payment Processing
10
Login Issues
9
Paymerang features and usability ratings that predict user satisfaction
9.5
Has the product been a good partner in doing business?
Average: 8.7
8.9
Online payment portal
Average: 8.5
8.2
Level 3
Average: 7.8
8.8
Accounting integration
Average: 8.3
Seller Details
Seller
Paymerang
Year Founded
2010
HQ Location
Richmond, Virginia
Twitter
@paymerang
187 Twitter followers
LinkedIn® Page
www.linkedin.com
139 employees on LinkedIn®
  • Overview
    Expand/Collapse Overview
  • Product Description
    How are these determined?Information
    This description is provided by the seller.

    Square works for every business.

    Users
    • Owner
    Industries
    • Food & Beverages
    • Health, Wellness and Fitness
    Market Segment
    • 85% Small-Business
    • 14% Mid-Market
  • Pros and Cons
    Expand/Collapse Pros and Cons
  • Square Payments Pros and Cons
    How are these determined?Information
    Pros and Cons are compiled from review feedback and grouped into themes to provide an easy-to-understand summary of user reviews.
    Pros
    Ease of Use
    11
    Easy Payments
    6
    Payment Ease
    4
    Easy Integrations
    3
    Setup Ease
    3
    Cons
    Limited Customization
    4
    Excessive Fees
    2
    High Fees
    2
    Integration Issues
    2
    Lack of Customization
    2
  • User Satisfaction
    Expand/Collapse User Satisfaction
  • Square Payments features and usability ratings that predict user satisfaction
    9.1
    Has the product been a good partner in doing business?
    Average: 8.7
    9.0
    Online payment portal
    Average: 8.5
    8.5
    Level 3
    Average: 7.8
    8.3
    Accounting integration
    Average: 8.3
  • Seller Details
    Expand/Collapse Seller Details
  • Seller Details
    Seller
    Square
    Year Founded
    2009
    HQ Location
    San Francisco, CA
    Twitter
    @Square
    307,688 Twitter followers
    LinkedIn® Page
    www.linkedin.com
    7,187 employees on LinkedIn®
    Ownership
    NYSE:SQ
Product Description
How are these determined?Information
This description is provided by the seller.

Square works for every business.

Users
  • Owner
Industries
  • Food & Beverages
  • Health, Wellness and Fitness
Market Segment
  • 85% Small-Business
  • 14% Mid-Market
Square Payments Pros and Cons
How are these determined?Information
Pros and Cons are compiled from review feedback and grouped into themes to provide an easy-to-understand summary of user reviews.
Pros
Ease of Use
11
Easy Payments
6
Payment Ease
4
Easy Integrations
3
Setup Ease
3
Cons
Limited Customization
4
Excessive Fees
2
High Fees
2
Integration Issues
2
Lack of Customization
2
Square Payments features and usability ratings that predict user satisfaction
9.1
Has the product been a good partner in doing business?
Average: 8.7
9.0
Online payment portal
Average: 8.5
8.5
Level 3
Average: 7.8
8.3
Accounting integration
Average: 8.3
Seller Details
Seller
Square
Year Founded
2009
HQ Location
San Francisco, CA
Twitter
@Square
307,688 Twitter followers
LinkedIn® Page
www.linkedin.com
7,187 employees on LinkedIn®
Ownership
NYSE:SQ
(25)3.4 out of 5
Save to My Lists
  • Overview
    Expand/Collapse Overview
  • Product Description
    How are these determined?Information
    This description is provided by the seller.

    Adyen is the payments platform of choice for many of the world’s leading companies, providing a modern end-to-end infrastructure connecting directly to Visa, Mastercard, and consumers' globally prefer

    Users
    No information available
    Industries
    No information available
    Market Segment
    • 44% Small-Business
    • 36% Mid-Market
  • Pros and Cons
    Expand/Collapse Pros and Cons
  • Adyen Pros and Cons
    How are these determined?Information
    Pros and Cons are compiled from review feedback and grouped into themes to provide an easy-to-understand summary of user reviews.
    Pros
    Ease of Use
    1
    Easy Payments
    1
    Payment Ease
    1
    Cons
    This product has not yet received any negative sentiments.
  • User Satisfaction
    Expand/Collapse User Satisfaction
  • Adyen features and usability ratings that predict user satisfaction
    8.7
    Has the product been a good partner in doing business?
    Average: 8.7
    8.9
    Online payment portal
    Average: 8.5
    10.0
    Level 3
    Average: 7.8
    10.0
    Accounting integration
    Average: 8.3
  • Seller Details
    Expand/Collapse Seller Details
  • Seller Details
    Seller
    Adyen
    Year Founded
    2006
    HQ Location
    Amsterdam
    Twitter
    @Adyen
    21,279 Twitter followers
    LinkedIn® Page
    www.linkedin.com
    4,769 employees on LinkedIn®
    Ownership
    AMS: ADYEN
Product Description
How are these determined?Information
This description is provided by the seller.

Adyen is the payments platform of choice for many of the world’s leading companies, providing a modern end-to-end infrastructure connecting directly to Visa, Mastercard, and consumers' globally prefer

Users
No information available
Industries
No information available
Market Segment
  • 44% Small-Business
  • 36% Mid-Market
Adyen Pros and Cons
How are these determined?Information
Pros and Cons are compiled from review feedback and grouped into themes to provide an easy-to-understand summary of user reviews.
Pros
Ease of Use
1
Easy Payments
1
Payment Ease
1
Cons
This product has not yet received any negative sentiments.
Adyen features and usability ratings that predict user satisfaction
8.7
Has the product been a good partner in doing business?
Average: 8.7
8.9
Online payment portal
Average: 8.5
10.0
Level 3
Average: 7.8
10.0
Accounting integration
Average: 8.3
Seller Details
Seller
Adyen
Year Founded
2006
HQ Location
Amsterdam
Twitter
@Adyen
21,279 Twitter followers
LinkedIn® Page
www.linkedin.com
4,769 employees on LinkedIn®
Ownership
AMS: ADYEN
(176)4.5 out of 5
9th Easiest To Use in Payment Processing software
Save to My Lists
Entry Level Price:$19.00
  • Overview
    Expand/Collapse Overview
  • Product Description
    How are these determined?Information
    This description is provided by the seller.

    HoneyBook is the centralized clientflow management platform that empowers independent businesses to deliver remarkable client experiences and operate with confidence. Core Features: - Invoices - Pr

    Users
    • Owner
    • Photographer
    Industries
    • Photography
    • Events Services
    Market Segment
    • 98% Small-Business
    • 2% Mid-Market
  • Pros and Cons
    Expand/Collapse Pros and Cons
  • HoneyBook Pros and Cons
    How are these determined?Information
    Pros and Cons are compiled from review feedback and grouped into themes to provide an easy-to-understand summary of user reviews.
    Pros
    Ease of Use
    61
    Payment Management
    22
    Invoicing
    18
    Customization
    15
    Organization
    15
    Cons
    Missing Features
    19
    Payment Issues
    10
    Difficult Customization
    9
    Limited Customization
    8
    Expensive
    7
  • User Satisfaction
    Expand/Collapse User Satisfaction
  • HoneyBook features and usability ratings that predict user satisfaction
    9.4
    Has the product been a good partner in doing business?
    Average: 8.7
    9.1
    Online payment portal
    Average: 8.5
    7.8
    Level 3
    Average: 7.8
    8.6
    Accounting integration
    Average: 8.3
  • Seller Details
    Expand/Collapse Seller Details
  • Seller Details
    Seller
    HoneyBook
    Company Website
    Year Founded
    2013
    HQ Location
    San Francisco, CA
    Twitter
    @honeybook
    4,482 Twitter followers
    LinkedIn® Page
    www.linkedin.com
    319 employees on LinkedIn®
Product Description
How are these determined?Information
This description is provided by the seller.

HoneyBook is the centralized clientflow management platform that empowers independent businesses to deliver remarkable client experiences and operate with confidence. Core Features: - Invoices - Pr

Users
  • Owner
  • Photographer
Industries
  • Photography
  • Events Services
Market Segment
  • 98% Small-Business
  • 2% Mid-Market
HoneyBook Pros and Cons
How are these determined?Information
Pros and Cons are compiled from review feedback and grouped into themes to provide an easy-to-understand summary of user reviews.
Pros
Ease of Use
61
Payment Management
22
Invoicing
18
Customization
15
Organization
15
Cons
Missing Features
19
Payment Issues
10
Difficult Customization
9
Limited Customization
8
Expensive
7
HoneyBook features and usability ratings that predict user satisfaction
9.4
Has the product been a good partner in doing business?
Average: 8.7
9.1
Online payment portal
Average: 8.5
7.8
Level 3
Average: 7.8
8.6
Accounting integration
Average: 8.3
Seller Details
Seller
HoneyBook
Company Website
Year Founded
2013
HQ Location
San Francisco, CA
Twitter
@honeybook
4,482 Twitter followers
LinkedIn® Page
www.linkedin.com
319 employees on LinkedIn®
(197)4.5 out of 5
Save to My Lists
Entry Level Price:Free
  • Overview
    Expand/Collapse Overview
  • Product Description
    How are these determined?Information
    This description is provided by the seller.

    Melio is an essential B2B payments solution that simplifies financial management for small businesses. Easily manage vendor payments, invoices, and cash flow with flexible payment methods like bank tr

    Users
    • Owner
    • CEO
    Industries
    • Accounting
    • Marketing and Advertising
    Market Segment
    • 96% Small-Business
    • 3% Mid-Market
    User Sentiment
    How are these determined?Information
    These insights, currently in beta, are compiled from user reviews and grouped to display a high-level overview of the software.
    • Melio is a payment platform that simplifies the process of collecting payment details from employees or contractors and enables quick payments.
    • Reviewers frequently mention the ease of use, seamless integration with various platforms, and the flexibility of ACH, debit, and credit payments as key benefits of Melio.
    • Reviewers experienced issues with processing delays, high pricing for small businesses, and limitations in features beyond the free plan.
  • Pros and Cons
    Expand/Collapse Pros and Cons
  • Melio Pros and Cons
    How are these determined?Information
    Pros and Cons are compiled from review feedback and grouped into themes to provide an easy-to-understand summary of user reviews.
    Pros
    Ease of Use
    69
    Easy Payments
    59
    Payment Processing
    39
    Flexibility
    24
    Easy Integrations
    23
    Cons
    Delays
    20
    Payment Issues
    18
    Missing Features
    15
    Integration Issues
    14
    Payment Delays
    13
  • User Satisfaction
    Expand/Collapse User Satisfaction
  • Melio features and usability ratings that predict user satisfaction
    9.0
    Has the product been a good partner in doing business?
    Average: 8.7
    9.1
    Online payment portal
    Average: 8.5
    8.3
    Level 3
    Average: 7.8
    8.7
    Accounting integration
    Average: 8.3
  • Seller Details
    Expand/Collapse Seller Details
  • Seller Details
    Seller
    Melio
    Company Website
    Year Founded
    2018
    HQ Location
    New York
    Twitter
    @MelioPayments
    5,883 Twitter followers
    LinkedIn® Page
    www.linkedin.com
    627 employees on LinkedIn®
Product Description
How are these determined?Information
This description is provided by the seller.

Melio is an essential B2B payments solution that simplifies financial management for small businesses. Easily manage vendor payments, invoices, and cash flow with flexible payment methods like bank tr

Users
  • Owner
  • CEO
Industries
  • Accounting
  • Marketing and Advertising
Market Segment
  • 96% Small-Business
  • 3% Mid-Market
User Sentiment
How are these determined?Information
These insights, currently in beta, are compiled from user reviews and grouped to display a high-level overview of the software.
  • Melio is a payment platform that simplifies the process of collecting payment details from employees or contractors and enables quick payments.
  • Reviewers frequently mention the ease of use, seamless integration with various platforms, and the flexibility of ACH, debit, and credit payments as key benefits of Melio.
  • Reviewers experienced issues with processing delays, high pricing for small businesses, and limitations in features beyond the free plan.
Melio Pros and Cons
How are these determined?Information
Pros and Cons are compiled from review feedback and grouped into themes to provide an easy-to-understand summary of user reviews.
Pros
Ease of Use
69
Easy Payments
59
Payment Processing
39
Flexibility
24
Easy Integrations
23
Cons
Delays
20
Payment Issues
18
Missing Features
15
Integration Issues
14
Payment Delays
13
Melio features and usability ratings that predict user satisfaction
9.0
Has the product been a good partner in doing business?
Average: 8.7
9.1
Online payment portal
Average: 8.5
8.3
Level 3
Average: 7.8
8.7
Accounting integration
Average: 8.3
Seller Details
Seller
Melio
Company Website
Year Founded
2018
HQ Location
New York
Twitter
@MelioPayments
5,883 Twitter followers
LinkedIn® Page
www.linkedin.com
627 employees on LinkedIn®

Learn More About Payment Processing Software

What is Payment Processing Software?

Payment processing software powers credit and debit card purchases. When customers make a purchase online, they enter their payment and shipping information into a payment gateway. The payment gateway gives that payment information to the payment processor, which then communicates with both the customer’s and merchant’s banks to complete the transaction. The transaction’s success or failure is reported back to the payment gateway and the customer. In a brick-and-mortar store, a customer’s credit or debit card is swiped into a point of sale (POS) system, which communicates with a payment processor to approve or deny the purchase. Many payment processors charge a fee for each transaction based on the size of the purchase.

Some payment processors have an embedded payment gateway or POS system to create a seamless experience. Any time a credit or debit transaction is attempted, a payment processor is needed. With the rise of digital wallets, payment processors have expanded their functionality to include digital currency and the transfer of money from a source such as Venmo or PayPal to an e-commerce or brick-and-mortar store. Some can process an e-check or set up recurring payments.

Key Benefits of Payment Processing Software

  • Processing payments made by credit, debit, and gift cards as well as digital wallets
  • Creating a seamless experience for customers
  • Determining whether or not payment is valid before fulfilling an order or completing a transaction
  • Communicating with a variety of banks to accept payment from anywhere in the world

Why Use Payment Processing Software?

Security — Payment information is extremely sensitive, so it needs protection. Payment processing software is held to high security standards to protect this sensitive information.

Scalability — A small business can use the same payment processor as a large enterprise, with little difference in functionality. Payment processors operate behind the scenes, and companies pay fees to use them. If a small business picks the right payment processor when it starts out, it may never need to change payment processors as their needs increase. Some payment processors handle billing and invoicing, so some internal processes are covered.

Flexibility — Most payment processors handle a wide variety of payments. All payment processors process credit and debit cards, but more are accepting payments from digital wallets, cryptocurrencies, and electronic checks. Some facilitate automatic payments to provide consumers and merchants an added convenience of regular payments. The more options provided to the consumer, the more opportunities a merchant has to make a sale, so it’s in a business’ best interest to utilize a payment processor with a variety of features.

Who Uses Payment Processing Software?

E-commerce businesses — E-commerce businesses rely on payment processing software because that is how they receive all payments. Payment processors integrate with the payment gateway an online business uses or the payment processor has its own payment gateway. Some e-commerce platforms have built-in gateways or processors, eliminating the need to choose a specific one.Because payment processors typically charge fees for each transaction, an e-commerce business needs to be mindful of the processor they choose because all their transactions are carried out by the payment processor.

Brick-and-mortar businesses — Brick-and-mortar businesses use payment processors to process credit cards and other non-cash payments. Typically, a processor is integrated with the POS system used by the store, but an all-in-one POS system might include a payment processor. Since most shoppers use some kind of card to make purchases, a payment processor is a necessity.

Business to business businesses — Every business collects payments in one form or another but businesses that cater to serving other businesses have a unique challenge. Some payment processors are equipped to accept e-checks and lines of credit, and integrate with billing and invoicing software to ensure payments are made and the proper documentation is created. Recurring and automatic payments are useful if a business functions on a subscription model.

Payment Processing Software Features

Encryption — Credit card and other payment information is extremely sensitive and must be protected from hackers and other threats. A good payment processor has strong encryption and likely more than one type of encryption to keep both customer and merchant data safe. If data is stolen the consequences can be dire for a business.

Reports and analytics — Some payment processors provide regular reports based on activity. This helps financial management import payment into analytics software. Knowing how customers make payments and ensuring they match a business’ revenue is crucial.

Processing fees — Many payment processors function by adding a small fee to each transaction. This is often a flat fee plus a percentage of the actual purchase. Some processors have different fee structures, but fees are nearly universal. Fee amounts vary slightly depending on the processor or based on the type of payment used.

E-commerce integration — Payment processor integration into e-commerce stores creates a seamless experience for customers when shopping online. Shoppers input both their payment information and their shipping information at the same time, and the business receives payment and all relevant information to fulfill the order quickly.

POS integration — For storefronts, payment processors integrated with a POS system create a seamless and quick checkout process so the stores receive payment on the spot and customers walk out with their purchase.

Payment methods — More payment methods accepted by a payment processor, means more customers. This includes mobile payments and cryptocurrencies like Bitcoin. Many payment processors accept certain credit cards or work with specific currencies.

Additional Payment Processing Features

E-signatures — Some payment processors allow users to digitally sign (usually using a finger to write) their credit card purchase. This provides added security measures and prevents fraud. This is typically a feature of mobile and tablet-based POS systems integrated with a payment processor. E-commerce purchases do not typically require a signature because they cross-check billing addresses and the security code on the credit card.

Receipts — Some POS systems generate digital or physical receipts. This allows both the merchant and the customer to maintain records. Online purchases use email receipts that can be printed if necessary. For in-store purchases, digital receipts can be emailed or texted.

Card readers — For physical purchases using a credit card, a card reader is important for streamlining the process. It’s much faster to swipe a card or read the chip than manually input the credit card information. Many tablet-based POS systems have a stand that includes a card reader, but for those using a mobile phone, some kind of mobile reader is required. These may plug directly into the phone or connect via Bluetooth.