Best Payment Processing Software in 2025

Best payment processing software are MinDBODY, Sage Payment Solutions, Zoho Checkout, Braintree, and Wild Apricot. These online payment processing software solutions provide businesses with the means to process multiple business-to-business (B2B) payments.

Pratiiek Mavani
Researched and Written by Pratiiek Mavani
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Jainy Patel
Reviewed and Edited by Jainy Patel
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Most Popular Payment Processing Software

This listing showcases software based on user recommendations and popularity. It also highlights products from our valued client partnerships.

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List of 20 Best Payment Processing Software

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Category Champions | 2025

Product Description

This information is provided by vendor.

FreshBooks is one of the best payment processing software programs that automates billing processes for small businesses and freelancers. FreshBooks handles billing by generating automated invoices, accepting online payments (ACH and credit card), and sending late payment reminders to accelerate cash flow. FreshBooks also allows... Read More About FreshBooks

FreshBooks Is Tailored For

StartUps

SMBs

Mid-Market

Enterprises

Features

  • Double Entry Accounting
  • Late Payment Reminders
  • Time Tracking
  • Client Management
  • Expense Tracking
  • Team Collaboration
  • Customizable Invoices
  • Bank Reconciliation
  • View all Features

Lite

$ 19

Per Month

Plus

$ 33

Per Month

Premium

$ 60

Per Month

4.6
out of 5 (56 Reviews)
Features
4.4
Ease of Use
4.5
Value for Money
4.4
Customer Support
4.5
Lincoln Tiburzi
Accountant

FreshBooks is ideal for controlling all financial transactions. The program has captured all accounts payable, and honoring all debts is done on time. We have fully managed to pay salaries and process payrolls using FreshBooks.

Read all 56 Reviews

FreshBooks Features and Usability-Based User Satisfaction Score

Rating Score 9.2

Rating Score

Out of 10

Review Score 10.0

Review Score

Out of 10

Freshness Score 10.0

Freshness Score

Out of 10

Social Score 9.0

Social Score

Out of 10

Visitor Score 8.0

Visitor Score

Out of 10

Emergents | 2025

Accelerate process of foreign currency creation

Product Description

Airwallex is one of the leading financial service providing agencies offering top-quality solutions to facilitate global payments. They help you create accounts to ease the process of making online transactions and international payments. Read More About Airwallex

Airwallex Is Tailored For

StartUps

SMBs

Mid-Market

Enterprises

Features

  • Fraud Detection
  • Fx Management
  • Invoice Management
  • Payment Gateway
  • Mobile App
  • User Permissions
  • Reporting And Analytics
  • Borderless Cards
  • View all Features

Airwallex Features and Usability-Based User Satisfaction Score

Freshness Score 10.0

Freshness Score

Out of 10

Social Score 5.0

Social Score

Out of 10

Visitor Score 2.0

Visitor Score

Out of 10

Emergents | 2025

Product Description

ACH Universal simplifies managing electronic payments and direct deposits for businesses. It helps create and transmit ACH files for payroll, vendor payments, and customer collections, ensuring fast and secure transactions. With easy integration into tools like QuickBooks and Excel, it automates payment processes while meeting NACHA... Read More About ACH Universal

ACH Universal Is Tailored For

StartUps

SMBs

Mid-Market

Enterprises

Features

  • Integration With Accounting Software
  • User Access Controls
  • Payment Scheduling
  • Batch Processing
  • Customer Support
  • Email Notifications
  • Real Time Reporting
  • Secure Data Encryption
  • View all Features

Standard

$ 80

Per Month

Corporate

$ 100

Per Month

Advanced

$ 150

Per Month

ACH Universal Features and Usability-Based User Satisfaction Score

Freshness Score 10.0

Freshness Score

Out of 10

Social Score 5.0

Social Score

Out of 10

Visitor Score 4.0

Visitor Score

Out of 10

Contenders | 2025

Product Description

This information is provided by vendor.

Stripe is an acclaimed merchant service and one of the leading payment processing software companies with a high rating. Its transparent pricing structure and support for over 135 currencies make it popular among high-volume merchants. With instant account approval, Stripe is an attractive option for... Read More About Stripe

Stripe Is Tailored For

StartUps

SMBs

Mid-Market

Enterprises

Features

  • Instant Payouts
  • Payouts
  • Developer Tools
  • Payment Processing
  • Fraud Prevention
  • Customer Management
  • Customizable Checkout
  • Dispute Handling
  • View all Features
4.4
out of 5 (9 Reviews)
Features
4.3
Ease of Use
4.4
Value for Money
4.6
Customer Support
4.1
Sean Rafferty
Owner

Overall, Stripe's impact on your work may include increased efficiency, improved security, a better customer experience, and valuable insights that help you make informed business decisions.

Read all 9 Reviews

Stripe Features and Usability-Based User Satisfaction Score

Rating Score 8.8

Rating Score

Out of 10

Review Score 2.0

Review Score

Out of 10

Freshness Score 8.5

Freshness Score

Out of 10

Social Score 10.0

Social Score

Out of 10

Visitor Score 8.0

Visitor Score

Out of 10

Category Champions | 2025

Product Description

PayPal is a top-rated payment solutions software and POS system for 2023, with a broad range of features and excellent name recognition. PayPal is ideal for e-commerce businesses as it is widely recognized and can increase customer confidence. PayPal offers a range of services that... Read More About Paypal

Paypal Is Tailored For

StartUps

SMBs

Mid-Market

Enterprises

Features

  • Api Integration
  • Payment Gateway Integration
  • Recurring Billing
  • Mobile Payments
  • Reporting And Analytics
  • Multi Currency Support
  • Payment Tracking
  • Refund Management
  • View all Features

PayPal Payments Pro

$ 30

month

Get Pricing
4.5
out of 5 (46 Reviews)
Features
4.3
Ease of Use
4.5
Value for Money
4.3
Customer Support
4.1
Mohamed Zammad
Admin

PayPal is a secure, widely accepted, and easy-to-use payment platform. However, its high fees, customer support issues, and limitations in some regions could detract from its overall appeal, especially for businesses or users with specific needs.

Read all 46 Reviews

Paypal Features and Usability-Based User Satisfaction Score

Rating Score 9.0

Rating Score

Out of 10

Review Score 9.0

Review Score

Out of 10

Freshness Score 9.5

Freshness Score

Out of 10

Social Score 8.8

Social Score

Out of 10

Visitor Score 4.0

Visitor Score

Out of 10

Emergents | 2025

Product Description

Square Point of Sale is the best payment software for iOS and Android devices. It provides various features such as online payment processing, inventory tracking, sales reporting, and more. Square also offers card readers, including magstripe, chip, and contactless. Its virtual terminal feature enables merchants... Read More About Square POS

Square POS Is Tailored For

StartUps

SMBs

Mid-Market

Enterprises

Features

  • Real Time Analytics
  • Multi Location Management
  • Loyalty Programs
  • Customizable Receipts
  • Sales Reporting
  • Inventory Management
  • Appointment Scheduling
  • E Commerce Integration
  • View all Features

Basic

$ 60

Per Location

Get Pricing
4.5
out of 5 (2 Reviews)
Features
4.0
Ease of Use
5.0
Value for Money
4.0
Customer Support
3.5
Joshua A Peters

This POS from Square is one of the best POS software I have ever used. I recommend it to everyone. It makes my job a lot easier and more convenient.

Read all 2 Reviews

Square POS Features and Usability-Based User Satisfaction Score

Rating Score 9.0

Rating Score

Out of 10

Review Score 1.0

Review Score

Out of 10

Freshness Score 5.5

Freshness Score

Out of 10

Social Score 5.0

Social Score

Out of 10

Visitor Score 6.0

Visitor Score

Out of 10

Product Description

Authorize.Net is a virtual point-of-sale software that eases card payments by converting a desktop or mobile device into a POS and using it with a card reader for secure payments. You can customize bills by adding tax rates and also email them to customers. Read More About Authorize.Net - duplicate product

Authorize.Net - duplicate product Is Tailored For

StartUps

SMBs

Mid-Market

Enterprises

Features

  • Pci Compliance
  • Secure Customer Data
  • Transaction Reporting
  • Multi Currency Support
  • Sync For Quickbooks
  • Advanced Fraud Detection
  • Quickbooks Integration
  • Mobile Payments
  • View all Features

Software by Adyen

Product Description

Adyen offers an all-in-one payment processing software that connects businesses to various payment methods, including global credit/debit cards and local options. Adyens secure checkout feature can be customized to provide a seamless payment experience, supporting over 250 payment methods, dynamic payment options based on customer... Read More About Adyen

Adyen Is Tailored For

StartUps

SMBs

Mid-Market

Enterprises

Features

  • Customizable Checkout
  • Alternative Payment Methods
  • Api Integration
  • Dynamic Currency Conversion
  • Pos Integration
  • 3d Secure
  • Seamless Integration
  • Pci Compliance
  • View all Features
3.0
out of 5 (1 Review)
Features
2.0
Ease of Use
2.0
Value for Money
2.0
Customer Support
2.0
saipureddy chandrasekhar
Free

I have been receiving deposits in my ledger recorded as being from Adyen with no further details. However, I wonder where the deposits are coming from as I manage several websites with affiliate links. I found the Adyen website and its support team to be quite unhelpful. I was led in endless circles without any answers, and even the email response was canned with additional useless links.

Read Review

Software by Payline Data

Product Description

Payline Data is a fully featured Payment Processing Software designed to serve Agencies, SMEs. Payline Data provides end-to-end solutions designed for Windows. This online Payment Processing system offers ACH Check Transactions, POS Transactions at one place. Read More About Payline Data

Payline Data Is Tailored For

StartUps

SMBs

Mid-Market

Enterprises

Features

  • E Commerce Integration
  • Point Of Sale Integration
  • Invoicing
  • Credit Card Processing
  • Multi Currency Support
  • Recurring Billing
  • Reporting And Analytics
  • Fraud Prevention Tools
  • View all Features

Software by BlueSnap

Product Description

This information is provided by vendor.

BlueSnap is revolutionizing the payment processing industry with its innovative solutions, offering seamless, secure transactions. Its transformative technology enhances user experience, streamlines operations, and drives business growth, setting a new standard for efficiency and reliability in digital payments. Read More About BlueSnap

BlueSnap Is Tailored For

StartUps

SMBs

Mid-Market

Enterprises

Features

  • Payment Gateway
  • Multi Currency Support
  • Mobile Payments
  • Recurring Billing
  • Global Payment Processing
  • Credit Card Processing
  • Invoice Management
  • Subscription Billing
  • View all Features

Software by FIS

Product Description

Worldpay is a comprehensive payment solution that empowers businesses of all sizes to seamlessly manage transactions online, in-store, or via mobile. With global reach and innovative services, it ensures a smooth, scalable payment experience tailored to your business needs. Read More About Worldpay

Worldpay Is Tailored For

StartUps

SMBs

Mid-Market

Enterprises

Features

  • Order Management
  • Customizable Receipts
  • Sales Reporting
  • Real Time Analytics
  • Loyalty Programs
  • Discount And Promotion Management
  • Gift Card Management
  • Mobile Pos
  • View all Features

Software by 2Checkout.com, Inc

Product Description

2Checkout is the standard solution for the payment gateway. It is quite simple and attractive in appearance. It supports multiple languages and currencies. It prevents fraud. The process is safe, reliable, and secure. It also supports mobile applications. Read More About 2Checkout

2Checkout Is Tailored For

StartUps

SMBs

Mid-Market

Enterprises

Features

  • Sandbox Environment
  • Detailed Reporting
  • Fraud Protection
  • Chargeback Management
  • Customizable Checkout
  • Customer Support
  • Subscription Management
  • Multiple Payment Methods
  • View all Features
4.0
out of 5 (1 Review)
Features
4.0
Ease of Use
4.0
Value for Money
4.0
Customer Support
4.0
Bwire Godfrey
Ceo

2Checkout is a payment processor partnered with many of the top online payment gateways. It makes it easy for merchants to create an account, accept credit cards, and make payments on the go. The platform helps sellers by providing tools to reach more customers and increase revenue.

Read Review

Software by Braintree

Product Description

Braintree is a PayPal service, which helps you accept and process payments to maximize your business opportunities and revenue. It enables you to pay, send money, and accept payments, providing security to your data and credit card information. It accepts all payment modes. Read More About Braintree

Braintree Is Tailored For

StartUps

SMBs

Mid-Market

Enterprises

Features

  • Paypal Integration
  • Recurring Billing
  • Advanced Reporting
  • Tokenization
  • Customizable Checkout
  • 3d Secure
  • Apple Pay Integration
  • Global Payments
  • View all Features

Category Champions | 2025

Product Description

Amazon Pay is an online payment processing software. It simplifies purchases for hundreds of millions of Amazon account holders, benefiting businesses of any size, type, or audience. With a seamless checkout experience that requires fewer clicks, businesses of all sizes can benefit from the trust... Read More About Amazon Pay

Amazon Pay Is Tailored For

StartUps

SMBs

Mid-Market

Enterprises

Features

  • Customizable Payment Pages
  • Customer Support
  • Payment Gateway Integration
  • Payment Analytics
  • Merchant Dashboard
  • Fraud Detection
  • Api Integration
  • Mobile Payments
  • View all Features
4.7
out of 5 (115 Reviews)
Features
4.6
Ease of Use
4.7
Value for Money
4.7
Customer Support
4.7
Aryan Priyansh Dwivedi
CEO (Chief Executive Officer)

Amazon Pay simplifies online payments with ease and security. It's convenient for shopping, bills, and more. A reliable service, highly recommended!

Read all 115 Reviews

Amazon Pay Features and Usability-Based User Satisfaction Score

Rating Score 9.4

Rating Score

Out of 10

Review Score 10.0

Review Score

Out of 10

Freshness Score 9.5

Freshness Score

Out of 10

Social Score 9.1

Social Score

Out of 10

Visitor Score 4.0

Visitor Score

Out of 10

Most Reviewed

Contenders | 2025

Product Description

Klarna is your go-to solution for seamless shopping, offering flexible payment options and a user-friendly interface. Manage your purchases effortlessly, track upcoming payments, and enjoy a stress-free shopping experience tailored to your needs. Read More About Klarna

Klarna Is Tailored For

StartUps

SMBs

Mid-Market

Enterprises

Features

  • In Store Payments
  • One Time Card
  • Pay Later
  • Payment Reminders
  • Multi Currency Support
  • Order Management
  • Customer Insights
  • Customizable Payment Plans
  • View all Features
4.7
out of 5 (6 Reviews)
Features
4.5
Ease of Use
4.7
Value for Money
4.5
Customer Support
4.5
Anamika Jain
Online Retail Consultant

Klarna has been a game-changer for my budgeting. The ability to pay in installments without interest has helped me manage my finances better. The app provides a clear overview of my upcoming payments and spending history, making it easy to keep track of my budget. Klarna's payment plans are straightforward, and the flexibility they offer is perfect for anyone looking to spread out their expenses.

Read all 6 Reviews

Klarna Features and Usability-Based User Satisfaction Score

Rating Score 9.4

Rating Score

Out of 10

Review Score 2.0

Review Score

Out of 10

Freshness Score 7.5

Freshness Score

Out of 10

Social Score 9.0

Social Score

Out of 10

Visitor Score 4.0

Visitor Score

Out of 10

Software by Skrill Limited

Product Description

Skrill is an online wallet service. You can pay online, send money, use a Skrill card, and participate in a loyalty program. Skrill has assisted millions of customers in making, sending, and spending money since 2001. So Skrill it wherever you are and whatever you... Read More About Skrill

Skrill Is Tailored For

StartUps

SMBs

Mid-Market

Enterprises

Features

  • Payout Solutions
  • Personalized Offers
  • Multi Currency Accounts
  • Instant Global Transfers
  • Cryptocurrency Support
  • Low Transaction Fees
  • Recurring Payments
  • Merchant Accounts
  • View all Features
4.0
out of 5 (2 Reviews)
Features
4.0
Ease of Use
3.5
Value for Money
3.5
Customer Support
3.5
gloria nwabiani
Managing director

Skrill is a very good digital wallet. I have been using it for several years now and have no regrets using it. It has so many useful features and it's widely accepted on my platforms where I make payments. Its instant deposit function, including the instant global transfer feature, are among the best things I like in Skrill as it has made payment easy for me. I also like the multi-currency account feature as I can convert my currency to the currency of my choice and send payment in that currency. The prepaid Mastercard, which isn't available for my country, is one thing they need to work on.

Read all 2 Reviews

Product Description

This information is provided by vendor.

QuickBooks Payments is a great payment solutions software and mobile payment gateway suitable for small to midsize businesses. Its features include a card reader plugin, mobile app, and transaction software, enabling instant processing of credit and debit cards. The system provides real-time reporting and transaction... Read More About QuickBooks GoPayment

QuickBooks GoPayment Is Tailored For

StartUps

SMBs

Mid-Market

Enterprises

Features

  • Real Time Reporting
  • Tip Management
  • Customer Management
  • User Permissions
  • Multi Device Sync
  • Invoicing
  • Recurring Billing
  • Tax Calculation
  • View all Features
5.0
out of 5 (1 Review)
Features
5.0
Ease of Use
5.0
Value for Money
5.0
Customer Support
5.0
Mark 78
President

I've been using QuickBooks Online for years with a yearly subscription. Most of the complaints I hear from people are because they haven’t taken the time to set up their account properly and learn how to utilize all the tools that QuickBooks offers. One yearly fee is more cost-effective than a per-transaction fee, which can add up over time.

Read Review

Software by Wave Financial Inc

Product Description

Wave Money is a comprehensive financial management tool for small businesses, offering invoicing, payments, accounting, banking, and payroll services. It simplifies bookkeeping, ensures data security, and provides expert support, all accessible via web and mobile apps. Read More About Wave Money

Wave Money Is Tailored For

StartUps

SMBs

Mid-Market

Enterprises

Features

  • Api Integration
  • Mobile Access
  • Data Visualization
  • Data Security
  • Data Export
  • Customizable Dashboards
  • Advanced Reporting
  • Predictive Analytics
  • View all Features

Software by WePay Inc

Product Description

WePay is your trusted partner in seamless payment processing, offering instant merchant onboarding, same-day deposits, and robust fraud protection. Simplify your financial operations and enhance your business growth with our comprehensive, user-friendly solutions. Read More About WePay

WePay Is Tailored For

StartUps

SMBs

Mid-Market

Enterprises

Features

  • Real Time Analytics
  • Instant Onboarding
  • Chargeback Management
  • Multi Currency Support
  • Customizable Checkout
  • Virtual Terminal
  • Fraud Detection
  • Developer Tools
  • View all Features

Software by PayPal, Inc

Product Description

Venmo is one of the leading payment processing software companies and mobile-based digital payment platforms that enable users to transfer money and make payments easily. Businesses can leverage the platforms social sharing features to generate brand exposure and appeal to a mobile-first audience. Venmo facilitates... Read More About Venmo

Venmo Is Tailored For

StartUps

SMBs

Mid-Market

Enterprises

Features

  • Transaction History
  • Qr Code Payments
  • Payment Notes
  • Push Notifications
  • Security And Encryption
  • Credit And Debit Card Support
  • Bank Account Linking
  • Two Factor Authentication
  • View all Features

  payment processing software guide

What Is Payment Processing Software?

Payment processing software facilitates the transfer of funds from one party to another. It allows you to accept payments via a credit card, debit card, e-check, and other digital payment methods.

The software also offers automated reconciliation and real-time analytics features to help you track your customer and financial data. Plus, you can enjoy the benefits of subscription management tools for recurring billing services or integrated marketing tools for content campaigns. Moreover, the integration of payment processing tools with financial management software lets automating the whole financial system of your business.

Benefits of Using Payment Processing Software

Payment solutions software has been around for decades and is used by businesses of all sizes. Here are some of the benefits of using the software. 

benefits of payment processing software

  1. Security

    Payment processing tools use encryption technology to encrypt sensitive customer data during the online transaction process. They also employ several layers of authentication, such as biometric authentication or PIN codes, to confirm a customer’s identity before allowing them to complete their purchase. 

  2. Flexibility

    The software allows you to set up different payment methods tailored to your needs. You can also enable customers to pay with various currencies or even cryptocurrencies like Bitcoin. With these features, you can expand your customer base beyond your local market and accept payments from all over the world.  

  3. Increased Efficiency

    Online payment processing software makes it easy to manage banking information, streamline customer payment options, and design customized invoices that can be processed online. With the software, you can create automated payment options for customers and track customer spending habits in real-time, thus increasing efficiency.  

  4. Scalability

    The system allows you to increase the number of online transactions you can handle without investing in additional hardware or personnel. If demand falls off, you can also reduce your setup without spending money on unneeded resources. .

  5. Cost Savings

    By automating payments, you can reduce manual labor costs. You also don’t have to worry about purchasing additional software since most payment processing software companies offer a cloud-based system. 

    What’s more, these solutions often offer discounts on transaction fees, which helps you cut down on overhead costs and maximize profits. 

  6. Record Keeping

    When you use the best payment processing software, you can maintain updated records of your expenses and revenue. The software also generates reports to give you insights into your expenditure trends. With these functions, you’ll be able to create more accurate budgets on where you need to invest or cut costs. 

Users of Payment Processing Software

Payment processing software is used by a wide range of user profiles, from small business organizations to large international corporations.

  1. eCommerce Businesses

    Payment processing is perfect for the eCommerce business. Not only does it speed up the purchase process but also helps ensure customer security. The software encrypts customer data and simplifies the checkout process by allowing customers to make direct payments without entering any extra information or forms.  

  2. B2B Businesses

    Business-to-business (B2B) companies are turning to payment processing solutions because they simplify billing and invoicing processes. With the software, you can automatically notify customers when payment is due, issue receipts, and generate invoices through a drag-and-drop function.    

  3. Healthcare Providers

    Healthcare providers benefit from the use of payment processing software in many ways. It automates patient billing and collections by allowing users to accept credit cards, e-checks, and other forms of payment. 

    The software also allows patients to make payments online or through an automated phone system without waiting in line or filling out paperwork.

  4. Educational Institutions

    The best payment software program allows educational institutions to securely accept payments for tuition, fees, or other related expenses. These tools typically feature an automated interface that simplifies the process of collecting payments from students and ensures accuracy when it comes to deposits into the institution's bank account. .

  5. Nonprofits

    With payment processing software, nonprofit organizations can generate detailed reports on donors and expenses. They can use these reports as evidence when filing taxes or other documents. Additionally, the software comes with fraud detection features, which help protect donors’ information from becoming compromised by malicious actors. 

What Are The Features of Payment Processing Software?

Payment processing systems provide various features that help you streamline your entire payment process.

features of payment processing software

  1. POS Integration

    Allows you to accept payments through physical and virtual point of sale (POS) systems, such as a mobile device and traditional credit card terminal. It also eliminates the need for multiple merchant accounts since all online transactions are processed through one account.  

  2. Card Readers

    Enables customers to pay for goods or services with their debit card, credit card, or mobile wallet. The card reader feature can also detect when a customer’s device is placed within proximity. 

    Once detected, the device can securely transmit data between two points without physically swiping the card—making it easier for customers to pay in-store.

  3. E-signatures

    Allows you and your customers to sign documents without posting or emailing them. This process also ensures all documents are legally binding by verifying the identity of both parties involved in the transaction. This can be done by using digital certificates or other authentication technologies, such as biometrics, passwords, or PINs.

  4. Encryption

    Works by transforming plain text data into an unreadable code before sending it over the internet. The encrypted information can only be decoded using a special key or password known only to the sender and receiver of the transaction. 

    With this feature, you can ensure that third parties are unable to access any sensitive information involved in the payment process.

  5. Multiple Payment Methods

    Allows you to provide several payment options, such as credit cards, debit cards, Paypal, and Apple Pay. This makes it easy for customers to make purchases without using cash or checks, thus increasing customer satisfaction.

  6. Reports and Analytics

    With this feature, you can determine how much money you’re making from sales, track the progress of transactions, identify potential problems before they become costly blunders, and get a better understanding of your customers’ spending habits. You can also access transaction histories and monthly spending reports.  

  7. Billing and Invoicing Automation

    Allows you to customize billing cycles. For example, you can set up recurring billing payments so customers can make one-time payments online. You may also schedule automatic reminders for customers who have overdue balances.    

  8. Multi-Currency Support

    This feature provides a simple way to offer international customers more convenient payment methods and reduce frustration when dealing with complex payment processes across different countries. You can also ensure you’re receiving the full amount owed without worrying about changes in exchange rates affecting your profits.

  9. eCommerce Integration

    Simplifies the entire checkout process by synchronizing customer and payment information from your website into your payment processor’s system. With this feature, customers can complete their purchases using saved payment methods. 

    The integration also helps reduce fraud by enabling third-party authentication services like Verified by Visa or MasterCard SecureCode to double-check customer identities before approving payments.

  10. Alerts and Reminders

    Allows you to easily receive notifications about any payments due or overdue and any upcoming bills or services that require payment. You can also automate your alerts each time a new invoice is generated or received. 

Considerations In Selecting A Payment Processing Software

When considering what payment processing software to choose, there are a few key things you should take into account.

consideration in select a payment processing software

  1. User Interface (UI)

    The user interface should be intuitive and straightforward so customers feel confident when entering their details on the checkout page. It should also have a good design with clearly-labeled menus and buttons and an organized layout that makes navigation simple.   

  2. Ease of Use

    A good payment processor will have a streamlined system that allows customers to make contactless payments without any complications. As a merchant, you should also be able to reconcile payments with minimal effort.

  3. Cost

    When calculating costs for payment processing software, you should compare features and the monthly subscription fee from different providers. You should also read through any contracts carefully before signing anything. Plus, be sure to look at the transaction fees or any hidden charges.  

  4. Customer Support

    Excellent customer support will ensure that customers can access help in case there are any issues with their payments or transactions. It also helps build trust between the customers and your business, enhancing the overall consumer experience. 

  5. Integrations

    An online payment processing system should be able to integrate with other solutions like accounting software, shopping carts, and customer management tools. With this ability, you won’t have to switch to another merchant account provider if you need additional features down the line.

  6. Value for Money

    When evaluating value for money, look at what types of payments can be processed. You also need to make sure that any chosen system will be compatible with your existing technology. Most importantly, calculate how much it will cost in terms of setup fees, monthly fees, and transaction fees.  

  7. Compliance with Regulations

    Your software must be compliant with PCI, DSS or GDPR. You should be able to protect customer information and adhere to best-practice security protocols when you process payments. Additionally, you must ensure you’re familiar with any local, regional, or global rules that may apply to your business operations. 

Top 5 Payment Processing Software with Pricing, Pros & Cons

Name
Free Trial
Demo
Pricing
Visit

Amazon Pay

Yes

No

Transaction Based

Learn More

PayPal

Yes

No Transaction Based

Learn More

GoCardless

Yes

No

1% on Transaction

Learn More

Stripe

Yes

No

1% on Transaction

Learn More

Square

Yes

No

Custom Pricing Packages

Learn More

There are many payment processing software options available in today's market. However, not all of them offer the same level of features and services that meet the needs of every business.

Here are some of the best payment software solutions that you need to know about.

  1. Amazon Pay: Best for High-Growth eCommerce Companies
  2. PayPal: Best for Startups and Freelancers
  3. GoCardless: Best for Accounting and Marketing Professionals
  4. Stripe: Best for Online Retail Stores
  5. Square: Best for Small Business Organizations

1. Amazon Pay

Amazon Pay is the best payment processing software for high-growth eCommerce businesses. It offers advanced fraud protection technology. And it provides exclusive discounts and promotions for users. 

Key Features

  • Debit card payments and credit card processing
  • Global payments
  • Payment fraud prevention
  • Online and mobile payment gateways

Pros

  • Fast transaction speed
  • Doesn’t have any extra processing fee
  • Cash back reward on every payment

Cons

  • Limited Amazon Pay wallet features
  • It can’t be used as a standalone app—you need to access it via the Amazon app

Pricing

  • Amazon Pay’s pricing is transaction-based.

2. PayPal

PayPal is the most popular online payment platform for startups and freelancers. You can use it to pay bills, shop online, or transfer funds on the go. The software also allows the linking of multiple bank accounts and credit cards. Plus, it has fraud detection tools to keep users’ personal information safe at all times. 

Key Features

  • Access control/permissions
  • Anomaly detection and machine learning models
  • Customizable invoices
  • Marketing reports and promotions management

Pros

  • Gives a gift reward to every user
  • Ease in depositing and withdrawing money either on the web or app
  • Easy integration with other websites

Cons

  • IPN and API are sometimes unstable
  • Transaction fees can be so high

Pricing

  • PayPal’s pricing is charged per transaction. A free plan is available. 

3. GoCardless

GoCardless is the most reliable and best payment processing software for financial institutions and marketing professionals. It automates your recurring payment processes. It has direct debit capabilities in multiple countries and currencies. And the platform comes with a user-friendly dashboard. 

Key Features

  • Electronic and online payments
  • Recurring/subscription billing and status tracking
  • Multi-currency
  • Accounting integration

Pros

  • Simple interface with good integrations
  • Allows for manually keyed transactions
  • Competitive rates compared to other providers

Cons

  • Doesn’t integrate with Xero well
  • Customer service operates on a European business day

Pricing

  • GoCardless offers free and two paid monthly subscription fees—Standard ($60/month) and Pro ($238/month).
  • A free trial is available. 

4. Stripe

Stripe is the most popular payment gateway for online retail businesses. It’s easy to use. It allows you to accept payments from multiple sources. And the software is also easy to integrate with your existing systems. 

Key Features

  • Cryptocurrency processing
  • Partial payments
  • Point of Sale (POS) software
  • Self Service Portal

Pros

  • Safely stores customer information
  • An impressive wallet that allows users to store and exchange money or cryptography
  • Works with any other payment collector for online businesses

Cons

  • Fees for same-country payments are too high
  • Could be very costly if you’re in a business with a high dispute rate

Pricing

  • Starts at $0.30 per successful card charge

5. Square

Square is the best payment processing system for small business owners. It has a user-friendly interface. Its pricing model has no hidden fees or long-term contracts. And the system enables you to track sales data and create invoices with ease. 

Key Features

  • Electronic signature
  • Gift card management
  • ACH payment processing and in person payments
  • Mobile card reader

Pros

  • Simple yet meaningful reporting capabilities
  • Saves your preferences, easy backup
  • Easy to integrate into your website or appointment bookings

Cons

  • The card reader functionality doesn’t work well sometimes

Pricing

  • Square's pricing varies. Contact their team for custom pricing packages.
  • A free plan is available. 

Trends Related to Payment Processing Software

As technology advances, so do the trends related to payment processing software.

trends related to payment processing software

  1. Cryptocurrency

    The user interface should be intuitive and straightforward so customers feel confident when entering their details on the checkout page. It should also have a good design with clearly-labeled menus and buttons and an organized layout that makes navigation simple.   

  2. Mobile Payments

    A good payment processor will have a streamlined system that allows customers to make contactless payments without any complications. As a merchant, you should also be able to reconcile payments with minimal effort.

  3. Digital Wallets

    When calculating costs for payment processing software, you should compare features and the monthly subscription fee from different providers. You should also read through any contracts carefully before signing anything. Plus, be sure to look at the transaction fees or any hidden charges.  

  4. Shift toward Subscription-Based Models

    Excellent customer support will ensure that customers can access help in case there are any issues with their payments or transactions. It also helps build trust between the customers and your business, enhancing the overall consumer experience. 

  5. Enhanced Security

    An online payment processing system should be able to integrate with other solutions like accounting software, shopping carts, and customer management tools. With this ability, you won’t have to switch to another merchant account provider if you need additional features down the line.

Integration of Payment Processing Software

By integrating payment processing systems with other business-related solutions, you can ensure your customers’ payments are securely processed while improving your overall efficiency.

  1. eCommerce Platform

    With an eCommerce platform integration, you can quickly receive and process payments from customers within a few minutes. You can also offer multiple payment options, such as PayPal, Apple Pay, and Google Pay.    

  2. Payment Gateways

    This provides a secure connection between merchants and customers, allowing for easy acceptance of online payments. With integrated payment gateways, you can also automate the entire process, from customer checkout to invoicing and reconciliation. 

  3. Payment Analytics

    Integrating payment analytics helps you evaluate customer purchase patterns and understand which payment methods are the most effective at driving revenue. With this information, you can adjust your pricing strategies and marketing campaigns.  

  4. POS Systems

    The integration of POS systems enables you to manage sales transactions, track customer purchases, and store information about promotions or loyalty programs. It also allows you to create customized receipts that contain important information, such as product descriptions, prices, and discounts applied at checkout.

Pricing for Payment Processing Software

Payment solutions can be priced in several different ways. Some solutions offer pay-as-you-go models with no long-term contracts or minimum fees required. Meanwhile, others may include a one-time setup fee plus a flat rate pricing structure or per transaction fee. 

Depending on the merchant account provider and product, additional fees, such as PCI compliance fees and merchant account setup costs, might also apply.

Conclusion

Selecting the best payment processing software for your business can be a tricky decision. There’s a range of options to choose from, so you should do your research and find the one that works best for you. 

Our buyer’s guide has laid out the key features and considerations when making this choice. Now that you know what to look for, it’s time to start comparing different software packages and make an informed decision. 

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Last Updated: August 20, 2024