Stripe is a strong starting point for online payments and subscriptions, Square for in-person selling, Shopify Payments for Shopify stores, and PayPal for wallet checkout. Helcim suits eligible US and Canadian businesses seeking interchange-plus pricing, while Mollie serves European businesses needing local payment methods.
The right choice starts with your business’s registered country, sales channels, and customers’ preferred ways to pay. A low advertised rate means little if the provider cannot onboard your business or connect to your store.
This shortlist uses official pricing and documentation, rather than firsthand product testing. Providers are grouped by practical business fit, not a universal ranking.
Pricing checked November 9, 2026. US dollar rates below are US examples unless stated otherwise; local fees, taxes, eligibility, and contract terms vary.
Payment Processing Companies at a Glance
| Provider | Strong starting point for | Published pricing example | Main consideration |
|---|---|---|---|
| Stripe | Online stores, custom checkout, subscriptions | US domestic online cards: 2.9% + $0.30 | Billing and international payments can add fees |
| Square | Shops, cafés, mobile sellers | US Free plan, in-person: 2.6% + $0.15 | Processing available in eight countries |
| Shopify Payments | Businesses already using Shopify | US Basic standard online cards: 2.9% + $0.30 | Shopify subscription required |
| PayPal | Wallet checkout and freelance payments | US PayPal checkout: 3.49% + $0.49 | Card, wallet, and international rates differ |
| Helcim | US and Canadian businesses evaluating transparent pricing | Lowest-volume in-person tier: interchange + 0.40% + $0.08 | Published markup is not the total fee |
| Mollie | European businesses accepting local methods | Euro pricing example, EEA consumer cards: 1.80% + €0.25 | Country, card category, and method affect pricing |
These figures describe different transaction types. Use your actual sales mix to estimate costs rather than treating the lowest number as the winner.
How Payment Processing Works
When a customer taps a card or pays online, several services work together:
- Payment gateway: Securely captures and transmits payment information.
- Payment processor: Routes transaction messages between the relevant financial institutions and payment networks.
- Merchant account: Provides the account arrangement through which card payments are received before funds reach your business bank account.
Modern payment platforms often bundle these functions, so a small business may not need to arrange each separately.
Authorization is the initial approval of a payment. Settlement and payout happen later. A successful checkout therefore does not mean the money is already available in your bank account.
6 Payment Providers Worth Shortlisting
1. Stripe: For Flexible Online Checkout and Subscriptions
Stripe suits businesses that need payment links, hosted checkout, or a customized payment experience. A freelancer can start with a payment link, while a software business can build recurring billing into its application.
US standard domestic online card pricing is 2.9% + $0.30. International cards add 1.5%, with another 1% when currency conversion is required. Pay-as-you-go Stripe Billing adds 0.7% of Billing volume, separate from payment processing.
Merchant availability includes the US, UK, Canada, Australia, many European countries, and selected Asian and other markets. Check the official supported-country list before building your checkout. Some markets have special onboarding restrictions.
Stripe supports more than 135 payment currencies, but payout currencies depend on your account country and bank setup. Methods such as ACH Direct Debit and iDEAL also have eligibility and currency requirements.
Main tradeoff: Flexibility brings configuration decisions. Budget for subscription tools, development, and any advanced features you actually need.
2. Square: For Shops, Cafés, and Mobile Selling
Square is a practical option when payments need to work alongside a point-of-sale system. It deserves a place on the shortlist for market stalls, service counters, and small hospitality businesses.
The US Free plan lists 2.6% + $0.15 for tapped, dipped, or swiped payments. Online and invoice card payments are 3.3% + $0.30, while online API transactions have separate pricing. Hardware and paid software plans add to the overall cost.
Square supports payment processing in the US, Canada, UK, Australia, Japan, France, Ireland, and Spain. Payments use the seller’s local currency: USD, CAD, GBP, AUD, JPY, or EUR, depending on location. International customers can use supported cards, but this does not allow merchants elsewhere to open processing accounts.
Main tradeoff: Check the software workflow as carefully as the processing rate. Restaurant modifiers, inventory variants, and staff permissions can determine which plan you need.
A POS system software guide explains those operational requirements in more detail.
3. Shopify Payments: For Shopify-Based Stores
Shopify Payments is a logical starting point if your store already runs on Shopify. It keeps payment administration within the platform used for orders and sales.
US Basic pricing lists 2.9% + $0.30 for standard online cards. Premium cards cost more. Basic costs $39 monthly, or $29 per month when billed yearly. A third-party transaction fee can apply when using another payment provider, on top of that provider’s charges.
Merchant availability includes the US, Canada, UK, Australia, New Zealand, Japan, Singapore, Hong Kong, and numerous European markets, among others on Shopify’s country-specific list. In-person availability differs from online availability.
Customers can pay in supported local currencies, while payout options depend on the merchant’s country and plan. Additional payout currencies require suitable bank accounts; non-domestic payout fees may apply.
Main tradeoff: Evaluate the whole store subscription. A lower transaction rate does not automatically justify upgrading your plan.
4. PayPal: For Wallet Checkout and Client Payments
PayPal is useful when customers want to pay through their PayPal accounts or when freelancers need a familiar payment option.
US PayPal checkout pricing is 3.49% + $0.49. Eligible Expanded Checkout card processing lists 2.89% + $0.29. These are different products, so “PayPal fees” should never be treated as one universal rate.
Merchant receiving capabilities exist in markets including the US, UK, Canada, Australia, and many European countries. However, PayPal’s country presence does not guarantee receiving, withdrawal, or every checkout product. Some markets are send-only.
Supported payment currencies include USD, EUR, GBP, CAD, AUD, and JPY, subject to product and country restrictions. Holding a currency balance is also different from withdrawing that currency to your bank. PayPal Developer
Main tradeoff: Cross-border charges and conversion costs can change the economics. Consider PayPal as an additional checkout choice where customers value it.
5. Helcim: For Interchange-Plus Pricing in North America
Helcim serves businesses in the US and Canada, with USD and CAD payment and deposit arrangements. Its options include cards, US ACH, and Canadian EFT/PAD and Interac capabilities.
At its lowest published volume tier, Helcim lists an in-person markup of 0.40% + $0.08, or 0.50% + $0.25 for keyed and online payments, added to interchange. Standard pricing has no monthly processing fee, and volume tiers reduce the markup.
Main tradeoff: Your final rate varies with the cards customers use. Request an estimate using recent statements rather than assuming the advertised markup is your complete cost.
Helcim is worth investigating when invoice collection, recurring payments, and transparent processing costs matter more than a large retail software ecosystem.
6. Mollie: For European Local Payment Methods
Mollie accepts eligible businesses based in the European Economic Area, Switzerland, and the UK, and requires an IBAN or UK bank account.
Its euro pricing page lists 1.80% + €0.25 for EEA consumer Visa and Mastercard transactions, with higher rates for commercial and non-EEA cards. Available methods include cards, SEPA payments, and regional options such as BLIK and Bancontact. Check your country’s price schedule.
Payment currencies depend on the method. Eligible volume-pricing customers can access additional payout currencies, including EUR, GBP, USD, and CHF, with appropriate bank accounts. This is not automatically available to every small merchant.
Main tradeoff: Strong European coverage does not mean worldwide merchant onboarding. Local payment preferences are its main reason to make your shortlist.
Understanding the Real Cost of Processing
Flat-Rate Pricing
Flat-rate pricing applies a stated percentage and fixed fee to a defined transaction category.
At 2.9% + $0.30, a $100 sale costs $3.20. A $10 sale costs $0.59, equivalent to 5.9%.
This explains why fixed transaction charges matter so much to businesses selling inexpensive items.
Interchange-Plus Pricing
Interchange-plus passes underlying card costs through and adds a processor markup. Check how network assessments appear in the quote.
For a hypothetical $100 payment:
| Cost component | Amount |
|---|---|
| Assumed underlying interchange and network costs | $1.90 |
| Processor markup of 0.40% + $0.08 | $0.48 |
| Total | $2.38 |
That example illustrates the calculation, not a guaranteed rate. Different cards and transaction types produce different underlying costs.
Charges Beyond the Headline Rate
Ask about:
- Monthly software charges, hardware purchases, and equipment leases.
- International-card and currency-conversion fees.
- Chargeback handling and dispute-response fees.
- Refunds where original processing fees are retained.
- Accelerated payouts, minimum commitments, and early termination.
For example, Stripe generally does not return the original processing and currency-conversion fees when standard-priced card payments are refunded.
Calculate an effective processing rate by dividing total processing-related fees by processed sales. Keep hardware and broader software costs visible separately.
What to Check Before Signing Up
Merchant Eligibility and Payment Methods
Confirm your registered country, business category, bank account, and ownership documentation are supported. Then check the methods your customers need.
A provider accepting international cards may still lack a particular local bank-payment method. Recurring payments also require explicit support; a method that works for one purchase may not work for subscriptions.
Settlement Times and Cash Flow
Ask separately about the first payout, normal settlement delay, payout schedule, and bank arrival time.
Stripe commonly schedules initial payouts 7–14 days after the first successful payment. Helcim notes that new merchants’ initial card batches may take around three business days for review. Neither example guarantees your timing. support.stripe.com
Maintain enough working capital for refunds and supplier bills. Instant payout features can involve eligibility checks, fees, and limits.
Integrations and Reconciliation
Test a complete workflow: payment, partial refund, fee deduction, and matching the bank deposit to your accounting records.
For subscriptions, check failed-payment retries, cancellation handling, and whether stored payment credentials can be migrated later.
Event organizers should also check how ticketing and processing charges interact. An event software guide provides relevant planning context.
Fraud, Support, and Contract Terms
Ask about fraud screening, 3-D Secure, dispute evidence, and your remaining PCI DSS responsibilities. Fraud tools do not guarantee protection from chargebacks.
Verify support hours, phone availability, and escalation options for payout problems. Read cancellation terms for processing, software, and hardware separately.
FAQs
Which payment processing company is cheapest?
There is no universal cheapest provider. Average order value, card mix, monthly volume, international sales, and software costs all affect the result. Price the same realistic sales scenario with each shortlisted provider.
Can I accept international payments from any country?
No. Your business must first qualify for merchant onboarding. Customer location, supported currencies, and local payment methods are separate eligibility questions.
Do I need a separate merchant account?
Not always. Bundled payment platforms can provide merchant-account functionality alongside processing and checkout, avoiding a separate application with another provider.
Are payment links enough for a freelancer?
Often, provided the service supports your country and business activity. Check invoice references, receipts, refund handling, and accounting exports before relying on them.
Final Words
Start with merchant eligibility, then shortlist providers that support your sales workflow and customer payment preferences. Estimate the full cost using realistic transactions, check payout terms, and test refunds and reconciliation before switching.
The best payment processing company is the one that fits how your business gets paid—and gives you clear costs and dependable processes as it grows.