Best Merchant Services of 2026
We looked at more than 40 merchant service providers. The best ones check most of these boxes: no monthly fees, no termination fees, competitive processing rates and support for a variety of payment types.
Many or all of the products on this page are from partners who compensate us when you click to or take an action on their website, but this does not influence our evaluations or ratings. Our opinions are our own.
Square POS
Best for Brick-and-mortar retail stores
Payment processing fees
In-person: 2.6% + $0.15
Online: 3.3% + $0.30
Online: 3.3% + $0.30
Monthly fee
$0
and up.
Learn more on Square's website
Pros
- Free plan option available.
- Offers helpful related services, like payroll, that integrate closely with its POS system.
- No long-term contracts or termination fees.
- All plans include a free online store.
Cons
- Free plan processing rates are more expensive than competitors.
- Complex industries might prefer a more specialized system.
Helcim
Best for High-volume businesses
Payment processing fees
In-person: 0.4% + $0.08
Online: 0.5% + $0.25
Online: 0.5% + $0.25
Plus interchange
Monthly fee
$0
on Helcim's website
Pros
- Businesses save when customers use cards with low interchange rates.
- Offers free POS software.
- Offers volume-based discounts automatically.
- No termination fees, long-term contracts or PCI compliance fees.
Cons
- Deposits may take up to two business days; same-day deposit option is not available.
- Interchange-plus costs can be difficult to predict.
Stripe
Best for Service-based businesses
Payment processing fees
In-person: 2.7% + $0.05
Online: 2.9% + $0.30
Online: 2.9% + $0.30
Monthly fee
$0
on Stripe's website
Pros
- Highly customizable online checkout options.
- No termination fees or long-term contracts.
- 24/7 chat support.
- Can process transactions in more than 135 currencies.
- No PCI compliance fees.
Cons
- Doesn’t sell full countertop POS setups; hardware is limited to handheld terminals and card readers.
- Deposits can take up to two business days.
- No phone or email support.
Chase Payment Solutions℠
Best for Built-in banking partner
Payment processing fees
In-person: 2.6% + $0.10
Online: 2.9% + $0.25
Online: 2.9% + $0.25
Monthly fee
$0
for in-person payments; $9.95 and up for e-commerce payments.
on Chase's website
Pros
- Two-in-one processor and acquiring bank.
- No PCI compliance or cancellation fees.
- Using your bank as your processor makes deposits convenient.
Cons
- Some hardware pricing is not readily available.
- Chase’s Business Complete checking account comes with a $15 monthly service fee for some merchants.
U.S. Bank Merchant Services
Best for Fast deposits
Payment processing fees
In-person: 2.6% + $0.10
Online: 2.9% + $0.30
Online: 2.9% + $0.30
Monthly fee
$0
and up.
Pros
- Same-day funding seven days per week for U.S. Bank checking account holders.
- No cancellation fees.
- Free POS software plan available.
- 24/7 support.
Cons
- POS system onboarding assistance can be costly.
- Deposit times are not as quick for merchants using third-party bank accounts.
- Virtual terminal costs extra.
Finix
Best for Quickly growing businesses
Payment processing fees
In-person: 0% + $0.08
Online: 0% + $0.15
Online: 0% + $0.15
Plus interchange
Monthly fee
$79
and up.
on Finix's website
Pros
- No long-term contracts.
- Subscription model can help high-volume businesses save money.
- Transparent fee breakdowns.
- 24/7 emergency phone and email support.
- No PCI compliance fees.
Cons
- Limited POS hardware options.
- Lacks direct accounting software integrations.
Payment Depot
Best for Tailored interchange-plus rates
Payment processing fees
0.2% + $0.00
to 1.95%, plus interchange.
Monthly fee
$0
on Payment Depot's website
Pros
- Businesses save when customers use cards with low interchange rates.
- No cancellation fees.
- Compatible with several POS hardware providers, including Clover.
Cons
- Markups vary by business.
- Interchange-plus costs can be difficult to predict.
- Charges a monthly $10 PCI compliance fee.
Shopify Retail POS
Best for Online retail businesses
Payment processing fees
In-person: 2.6% + $0.10
Online: 2.9% + $0.30
Online: 2.9% + $0.30
Monthly fee
$39
and up for e-commerce plans; Can upgrade to POS Pro for an extra $89.
on Shopify's website
Pros
- No long-term contracts or termination fees.
- All plans include an online store.
- Built specifically for online sellers.
- 24/7 chat support.
Cons
- No free plan options.
- Business and American Express cards carry higher online rates (3.5% plus 30 cents in the Basic plan).
- Phone support only available for Plus plan subscribers.
Toast POS
Best for Full-service restaurants
Payment processing fees
2.49% + $0.15
if you buy hardware upfront; 3.09% + $0.15 for pay-as-you-go option.
Monthly fee
$0
Starter Kit; $69 Point of Sale plan; custom Build Your Own plan.
on Toast's website
Pros
- Free plan available for restaurants with up to two POS terminals.
- 24/7 phone and web messaging support.
- Offers helpful related services, like payroll and team management software, that integrate closely with its POS system.
- Built specifically for restaurants with in-house delivery platform available, among other industry-specific features.
Cons
- Requires a two-year contract and charges early termination fees.
- Online payment processing rates are more expensive than competitors.
- Charges setup fee, and offline mode includes hidden cost of backup router.
- Online ordering and accounting integrations cost extra.
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No monthly fee option - No PCI compliance fee
- No termination fee
- No setup fee
- Retail-specific tools
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Showing 0 out of 9 cards
Square POS
Best for Brick-and-mortar retail stores
Payment processing fees
In-person: 2.6% + $0.15
Online: 3.3% + $0.30
Online: 3.3% + $0.30
Monthly fee
$0
and up.
on Square's website
Pros
- Free plan option available.
- Offers helpful related services, like payroll, that integrate closely with its POS system.
- No long-term contracts or termination fees.
- All plans include a free online store.
Cons
- Free plan processing rates are more expensive than competitors.
- Complex industries might prefer a more specialized system.
Square’s free POS software plan, reasonably priced hardware options and brand familiarity make it a solid choice for brick-and-mortar businesses in quick-service food and retail industries. True — its free plan’s processing rates are higher than those of competitors. But we think it’s still a great value when you consider all of the plan’s features. These include low-stock alerts, an online store, item management and a variety of reports.
Pros
- Free plan option available.
- Offers helpful related services, like payroll, that integrate closely with its POS system.
- No long-term contracts or termination fees.
- All plans include a free online store.
Cons
- Free plan processing rates are more expensive than competitors.
- Complex industries might prefer a more specialized system.
Square’s free POS software plan, reasonably priced hardware options and brand familiarity make it a solid choice for brick-and-mortar businesses in quick-service food and retail industries. True — its free plan’s processing rates are higher than those of competitors. But we think it’s still a great value when you consider all of the plan’s features. These include low-stock alerts, an online store, item management and a variety of reports.
Pros
- Free plan option available.
- Offers helpful related services, like payroll, that integrate closely with its POS system.
- No long-term contracts or termination fees.
- All plans include a free online store.
Cons
- Free plan processing rates are more expensive than competitors.
- Complex industries might prefer a more specialized system.
Helcim
Best for High-volume businesses
Payment processing fees
In-person: 0.4% + $0.08
Online: 0.5% + $0.25
Online: 0.5% + $0.25
Plus interchange
Monthly fee
$0
on Helcim's website
Pros
- Businesses save when customers use cards with low interchange rates.
- Offers free POS software.
- Offers volume-based discounts automatically.
- No termination fees, long-term contracts or PCI compliance fees.
Cons
- Deposits may take up to two business days; same-day deposit option is not available.
- Interchange-plus costs can be difficult to predict.
Unlike flat-rate payment processors that charge the same transaction fee across different types of credit cards, Helcim uses an interchange-plus pricing model. This means your business saves when a customer uses a card with low interchange rates. Helcim also offers volume discounts if you process more than $50,000 monthly, which is a plus for high-volume businesses. And if you need hardware for taking payments in-person, the company sells its own smart terminal and mobile card reader, too.
Read full review
Pros
- Businesses save when customers use cards with low interchange rates.
- Offers free POS software.
- Offers volume-based discounts automatically.
- No termination fees, long-term contracts or PCI compliance fees.
Cons
- Deposits may take up to two business days; same-day deposit option is not available.
- Interchange-plus costs can be difficult to predict.
Unlike flat-rate payment processors that charge the same transaction fee across different types of credit cards, Helcim uses an interchange-plus pricing model. This means your business saves when a customer uses a card with low interchange rates. Helcim also offers volume discounts if you process more than $50,000 monthly, which is a plus for high-volume businesses. And if you need hardware for taking payments in-person, the company sells its own smart terminal and mobile card reader, too.
Read full review
Pros
- Businesses save when customers use cards with low interchange rates.
- Offers free POS software.
- Offers volume-based discounts automatically.
- No termination fees, long-term contracts or PCI compliance fees.
Cons
- Deposits may take up to two business days; same-day deposit option is not available.
- Interchange-plus costs can be difficult to predict.
Stripe
Best for Service-based businesses
Payment processing fees
In-person: 2.7% + $0.05
Online: 2.9% + $0.30
Online: 2.9% + $0.30
Monthly fee
$0
on Stripe's website
Pros
- Highly customizable online checkout options.
- No termination fees or long-term contracts.
- 24/7 chat support.
- Can process transactions in more than 135 currencies.
- No PCI compliance fees.
Cons
- Doesn’t sell full countertop POS setups; hardware is limited to handheld terminals and card readers.
- Deposits can take up to two business days.
- No phone or email support.
Service-based businesses often accept payments online, and Stripe makes it easy. You can integrate its payment processing capabilities into your existing website or build a new checkout flow. The level of customization is up to you.
Stripe is even more ideal for service businesses with subscription pricing. It’s a great fit if you sell gym memberships or weekly lessons, for instance. These businesses can pay Stripe an annual contract fee — plus a portion of their sales — to set up custom billing workflows. These let you charge customers on a consistent schedule (e.g., monthly) or based on usage.
On top of that, Stripe supports more than 135 different currencies online. This allows you to expand your business’s reach beyond the U.S.
Pros
- Highly customizable online checkout options.
- No termination fees or long-term contracts.
- 24/7 chat support.
- Can process transactions in more than 135 currencies.
- No PCI compliance fees.
Cons
- Doesn’t sell full countertop POS setups; hardware is limited to handheld terminals and card readers.
- Deposits can take up to two business days.
- No phone or email support.
Service-based businesses often accept payments online, and Stripe makes it easy. You can integrate its payment processing capabilities into your existing website or build a new checkout flow. The level of customization is up to you.
Stripe is even more ideal for service businesses with subscription pricing. It’s a great fit if you sell gym memberships or weekly lessons, for instance. These businesses can pay Stripe an annual contract fee — plus a portion of their sales — to set up custom billing workflows. These let you charge customers on a consistent schedule (e.g., monthly) or based on usage.
On top of that, Stripe supports more than 135 different currencies online. This allows you to expand your business’s reach beyond the U.S.
Pros
- Highly customizable online checkout options.
- No termination fees or long-term contracts.
- 24/7 chat support.
- Can process transactions in more than 135 currencies.
- No PCI compliance fees.
Cons
- Doesn’t sell full countertop POS setups; hardware is limited to handheld terminals and card readers.
- Deposits can take up to two business days.
- No phone or email support.
Chase Payment Solutions℠
Best for Built-in banking partner
Payment processing fees
In-person: 2.6% + $0.10
Online: 2.9% + $0.25
Online: 2.9% + $0.25
Monthly fee
$0
for in-person payments; $9.95 and up for e-commerce payments.
on Chase's website
Pros
- Two-in-one processor and acquiring bank.
- No PCI compliance or cancellation fees.
- Using your bank as your processor makes deposits convenient.
Cons
- Some hardware pricing is not readily available.
- Chase’s Business Complete checking account comes with a $15 monthly service fee for some merchants.
Chase Payment Solutions is a direct processor, meaning it operates as both the payment processor and the acquiring bank that establishes the merchant’s bank account. You’ll get your money the next business day, which is faster than the two-day norm with many other processors, provided you use a Chase business checking account.
Pros
- Two-in-one processor and acquiring bank.
- No PCI compliance or cancellation fees.
- Using your bank as your processor makes deposits convenient.
Cons
- Some hardware pricing is not readily available.
- Chase’s Business Complete checking account comes with a $15 monthly service fee for some merchants.
Chase Payment Solutions is a direct processor, meaning it operates as both the payment processor and the acquiring bank that establishes the merchant’s bank account. You’ll get your money the next business day, which is faster than the two-day norm with many other processors, provided you use a Chase business checking account.
Pros
- Two-in-one processor and acquiring bank.
- No PCI compliance or cancellation fees.
- Using your bank as your processor makes deposits convenient.
Cons
- Some hardware pricing is not readily available.
- Chase’s Business Complete checking account comes with a $15 monthly service fee for some merchants.
U.S. Bank Merchant Services
Best for Fast deposits
Payment processing fees
In-person: 2.6% + $0.10
Online: 2.9% + $0.30
Online: 2.9% + $0.30
Monthly fee
$0
and up.
Pros
- Same-day funding seven days per week for U.S. Bank checking account holders.
- No cancellation fees.
- Free POS software plan available.
- 24/7 support.
Cons
- POS system onboarding assistance can be costly.
- Deposit times are not as quick for merchants using third-party bank accounts.
- Virtual terminal costs extra.
U.S. Bank offers business banking, payment processing and point-of-sale solutions for small businesses. The bank also offers Everyday Funding, which allows merchants to receive funds in their deposit account every day of the week, including weekends — not something you’ll find among many competitors.
There is also currently this welcome bonus: Earn $400 when you process $5,000 in transactions within 60 days of approval of your new U.S. Bank Payment Solutions Merchant account by June 30, 2026. Member FDIC.
Pros
- Same-day funding seven days per week for U.S. Bank checking account holders.
- No cancellation fees.
- Free POS software plan available.
- 24/7 support.
Cons
- POS system onboarding assistance can be costly.
- Deposit times are not as quick for merchants using third-party bank accounts.
- Virtual terminal costs extra.
U.S. Bank offers business banking, payment processing and point-of-sale solutions for small businesses. The bank also offers Everyday Funding, which allows merchants to receive funds in their deposit account every day of the week, including weekends — not something you’ll find among many competitors.
There is also currently this welcome bonus: Earn $400 when you process $5,000 in transactions within 60 days of approval of your new U.S. Bank Payment Solutions Merchant account by June 30, 2026. Member FDIC.
Pros
- Same-day funding seven days per week for U.S. Bank checking account holders.
- No cancellation fees.
- Free POS software plan available.
- 24/7 support.
Cons
- POS system onboarding assistance can be costly.
- Deposit times are not as quick for merchants using third-party bank accounts.
- Virtual terminal costs extra.
Finix
Best for Quickly growing businesses
Payment processing fees
In-person: 0% + $0.08
Online: 0% + $0.15
Online: 0% + $0.15
Plus interchange
Monthly fee
$79
and up.
on Finix's website
Pros
- No long-term contracts.
- Subscription model can help high-volume businesses save money.
- Transparent fee breakdowns.
- 24/7 emergency phone and email support.
- No PCI compliance fees.
Cons
- Limited POS hardware options.
- Lacks direct accounting software integrations.
Finix is a merchant services provider that can grow alongside your business, thanks to its ability to accommodate both small and large businesses alike. It charges low interchange markups for in-person and online transactions in exchange for a monthly fee. This subscription-based model becomes increasingly cost efficient for your business as it sells more. Other perks include a dedicated implementation manager and the option to customize payout schedules.
Pros
- No long-term contracts.
- Subscription model can help high-volume businesses save money.
- Transparent fee breakdowns.
- 24/7 emergency phone and email support.
- No PCI compliance fees.
Cons
- Limited POS hardware options.
- Lacks direct accounting software integrations.
Finix is a merchant services provider that can grow alongside your business, thanks to its ability to accommodate both small and large businesses alike. It charges low interchange markups for in-person and online transactions in exchange for a monthly fee. This subscription-based model becomes increasingly cost efficient for your business as it sells more. Other perks include a dedicated implementation manager and the option to customize payout schedules.
Pros
- No long-term contracts.
- Subscription model can help high-volume businesses save money.
- Transparent fee breakdowns.
- 24/7 emergency phone and email support.
- No PCI compliance fees.
Cons
- Limited POS hardware options.
- Lacks direct accounting software integrations.
Payment Depot
Best for Tailored interchange-plus rates
Payment processing fees
0.2% + $0.00
to 1.95%, plus interchange.
Monthly fee
$0
on Payment Depot's website
Pros
- Businesses save when customers use cards with low interchange rates.
- No cancellation fees.
- Compatible with several POS hardware providers, including Clover.
Cons
- Markups vary by business.
- Interchange-plus costs can be difficult to predict.
- Charges a monthly $10 PCI compliance fee.
Payment Depot is a payment processor owned by Stax, a membership-style payment processing platform. But as opposed to offering monthly subscription pricing like Stax, it uses an interchange-plus pricing model and charges no monthly fee. The margin Payment Depot charges on top of interchange varies, so businesses must reach out directly for specifics.
Read full review
Pros
- Businesses save when customers use cards with low interchange rates.
- No cancellation fees.
- Compatible with several POS hardware providers, including Clover.
Cons
- Markups vary by business.
- Interchange-plus costs can be difficult to predict.
- Charges a monthly $10 PCI compliance fee.
Payment Depot is a payment processor owned by Stax, a membership-style payment processing platform. But as opposed to offering monthly subscription pricing like Stax, it uses an interchange-plus pricing model and charges no monthly fee. The margin Payment Depot charges on top of interchange varies, so businesses must reach out directly for specifics.
Read full review
Pros
- Businesses save when customers use cards with low interchange rates.
- No cancellation fees.
- Compatible with several POS hardware providers, including Clover.
Cons
- Markups vary by business.
- Interchange-plus costs can be difficult to predict.
- Charges a monthly $10 PCI compliance fee.
Shopify Retail POS
Best for Online retail businesses
Payment processing fees
In-person: 2.6% + $0.10
Online: 2.9% + $0.30
Online: 2.9% + $0.30
Monthly fee
$39
and up for e-commerce plans; Can upgrade to POS Pro for an extra $89.
on Shopify's website
Pros
- No long-term contracts or termination fees.
- All plans include an online store.
- Built specifically for online sellers.
- 24/7 chat support.
Cons
- No free plan options.
- Business and American Express cards carry higher online rates (3.5% plus 30 cents in the Basic plan).
- Phone support only available for Plus plan subscribers.
When it comes to online retail merchant services, it’s hard to beat Shopify’s integrated e-commerce platform and online payment processing. Its selection of more than 200 website design templates helps your business’s online storefront look professional and on brand with little effort. Additionally, all plans for online selling let you track up to 10 inventory locations and include 24/7 chat support.
Pros
- No long-term contracts or termination fees.
- All plans include an online store.
- Built specifically for online sellers.
- 24/7 chat support.
Cons
- No free plan options.
- Business and American Express cards carry higher online rates (3.5% plus 30 cents in the Basic plan).
- Phone support only available for Plus plan subscribers.
When it comes to online retail merchant services, it’s hard to beat Shopify’s integrated e-commerce platform and online payment processing. Its selection of more than 200 website design templates helps your business’s online storefront look professional and on brand with little effort. Additionally, all plans for online selling let you track up to 10 inventory locations and include 24/7 chat support.
Pros
- No long-term contracts or termination fees.
- All plans include an online store.
- Built specifically for online sellers.
- 24/7 chat support.
Cons
- No free plan options.
- Business and American Express cards carry higher online rates (3.5% plus 30 cents in the Basic plan).
- Phone support only available for Plus plan subscribers.
Toast POS
Best for Full-service restaurants
Payment processing fees
2.49% + $0.15
if you buy hardware upfront; 3.09% + $0.15 for pay-as-you-go option.
Monthly fee
$0
Starter Kit; $69 Point of Sale plan; custom Build Your Own plan.
on Toast's website
Pros
- Free plan available for restaurants with up to two POS terminals.
- 24/7 phone and web messaging support.
- Offers helpful related services, like payroll and team management software, that integrate closely with its POS system.
- Built specifically for restaurants with in-house delivery platform available, among other industry-specific features.
Cons
- Requires a two-year contract and charges early termination fees.
- Online payment processing rates are more expensive than competitors.
- Charges setup fee, and offline mode includes hidden cost of backup router.
- Online ordering and accounting integrations cost extra.
Unlike other merchant services providers that cater to a variety of industries, Toast is fully committed and tailored to businesses in the restaurant industry. It’s not the least expensive option on the market, though, so we recommend it mostly for full-service restaurants, since they’ll likely get more value out of it than, say, a small cafe. All plans include table and order management tools, basic employee scheduling capabilities, timekeeping and digital menus. There are add-ons for payroll, marketing and letting customers order and pay from their smartphone while seated in-house.
Pros
- Free plan available for restaurants with up to two POS terminals.
- 24/7 phone and web messaging support.
- Offers helpful related services, like payroll and team management software, that integrate closely with its POS system.
- Built specifically for restaurants with in-house delivery platform available, among other industry-specific features.
Cons
- Requires a two-year contract and charges early termination fees.
- Online payment processing rates are more expensive than competitors.
- Charges setup fee, and offline mode includes hidden cost of backup router.
- Online ordering and accounting integrations cost extra.
Unlike other merchant services providers that cater to a variety of industries, Toast is fully committed and tailored to businesses in the restaurant industry. It’s not the least expensive option on the market, though, so we recommend it mostly for full-service restaurants, since they’ll likely get more value out of it than, say, a small cafe. All plans include table and order management tools, basic employee scheduling capabilities, timekeeping and digital menus. There are add-ons for payroll, marketing and letting customers order and pay from their smartphone while seated in-house.
Pros
- Free plan available for restaurants with up to two POS terminals.
- 24/7 phone and web messaging support.
- Offers helpful related services, like payroll and team management software, that integrate closely with its POS system.
- Built specifically for restaurants with in-house delivery platform available, among other industry-specific features.
Cons
- Requires a two-year contract and charges early termination fees.
- Online payment processing rates are more expensive than competitors.
- Charges setup fee, and offline mode includes hidden cost of backup router.
- Online ordering and accounting integrations cost extra.
Jump to
How we select the best merchant services
What merchant services we consider
How we keep our picks up to date
What are merchant services?
What is a merchant account?
What are the different types of merchant accounts?
Do you need a dedicated merchant account?
Should you process payments with a bank?
How to choose the best merchant service for your small business
Table of contents
How we select the best merchant services
Our writers and editors gather more than 30 pieces of data for each merchant service we rate. To make our list, products must meet most of the following criteria:
- Offer free monthly plans. The exceptions are Shopify and Finix. Their plans start at $39 and $79 per month, respectively. But they can also accommodate larger businesses. We think they offer adequate value for the price.
- Have competitive processing rates. Competitive in-person rates are around 2.6% plus 10 cents. Competitive online rates are in the ballpark of 2.9% plus 30 cents. Most of our picks hit both marks. But some providers, like Square, make you upgrade to a paid plan to access fairer rates.
- Be transparent about added fees. Most of the options above are transparent about fees for PCI compliance, termination, setup and chargebacks. You shouldn’t have to reach out to a representative to gather this info — it should be clearly listed on the website.
- Process a variety of transaction types. All of our picks support online, in-person and invoiced transactions.
- Sell POS hardware. If you accept in-person payments, you should be able to purchase POS hardware straight from your merchant service provider. This guarantees the hardware will be compatible with the processing service.
We might make exceptions if a product excels in a specific industry or stands out for a particular feature. We also include options with different pricing structures. High-volume businesses, for example, may benefit from an interchange-plus model over a flat-rate one.
We rate products based on their lowest-tier, least expensive plans.
Merchant service providers with 5 stars are outstanding. They offer competitive in-person and online processing rates, built-in POS system features and free software plans. Plus, they can accommodate a variety of business types.
Merchant service providers with 4.0 to 4.9 stars are great to excellent. Typically, they have competitive pricing and robust POS features. However, they may have longer-term contracts or fall short when it comes to integrations and/or pricing transparency.
Merchant service providers with 3.0 to 3.9 stars may be good for specific types of businesses, but typically aren’t a universally great fit. Whereas 4-star providers are lacking in just a few areas, these processors fall short in more categories.
Merchant service providers with 2.9 stars or fewer don’t offer competitive rates or include the same core POS features that competitors do. We usually don’t recommend these products for small businesses.
What merchant services we consider
NerdWallet’s editorial team has evaluated more than 40 merchant service providers. This list names standalone payment processors and POS system providers with built-in payment processing capabilities.
We focus on big names in both of those spaces. These include Square, Clover and Stripe. But we also look at products made specifically for businesses in more niche spaces, like high-risk industries and nonprofits.
We base our coverage on research, as well as conversations with business owners. We factor in our own experiences with these products as consumers too.
Adyen. Amazon Pay. Authorize.net. Braintree. Cash App. Chase Payment Solutions. Clover. DaySmart Salon. Dharma Merchant Services. eHopper. Finix. Helcim. IT Retail. Lavu. Lightspeed Retail. Lightspeed Restaurant. Loyverse. mPower Beverage. National Processing. Payanywhere. Payline Data. Paymentcloud. Payment Depot. Payoneer. PayPal. Paysafe. POS Nation. QuickBooks Payments. Shopify Payments. Square Retail. Square Food and Beverage. SumUp. Stax. Stripe. Toast. TouchBistro. U.S. Bank Merchant Services. Venmo. VizyPay. Worldpay. Zelle.
How we keep our picks up to date
NerdWallet has a full-time team of small-business writers and editors. We keep an eye on the merchant services landscape by regularly reviewing product information. This mostly includes checking for rate changes and new POS plan features.
We do at least one full audit annually. But we aim to update pricing changes as soon as they happen. We also interview business owners and ask how they accept payments. Most often, this influences our take on a product’s usability.
What are merchant services?
Merchant services is the umbrella term for a group of products that help you accept payments. At a minimum, most businesses need the following merchant services:
- Credit card processing capabilities.
- Merchant accounts.
- POS systems.
You may need other merchant services depending on the transaction types you accept. In-person transactions might involve extra credit card readers and other POS hardware. Services for online transactions likely require e-commerce platforms and payment gateways.
Merchant services also encompass any other extra tools and capabilities involved in accepting payments. These include gift cards, loyalty programs and fraud protection, among other features.
What is a merchant account?
A merchant account holds funds from your credit card sales. From there, you can transfer that money to your business bank account and withdraw it. That cash is usually available within one to two business days.
All businesses that accept card payments need to have a merchant account. In general, the businesses that provide merchant accounts also provide other critical merchant services, like payment processing and POS systems.
What are the different types of merchant accounts?
There are two main types of merchant accounts: dedicated and shared. Here’s a rundown of how they compare:
| Dedicated account | Shared account | |
|---|---|---|
| What it is | An account you own by yourself. | Payment service providers (PSPs) aggregate multiple businesses’ funds into a single account. |
| Examples |
|
|
| Pros |
|
|
| Cons |
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Do you need a dedicated merchant account?
Dedicated merchant accounts are best for businesses that:
✔️ Process a high volume of transactions.
✔️ Prefer a more personalized approach.
✔️ ️ Want to minimize risk of account freezes.
✔️ ️ Would like to negotiate payment processing rates.
✔️ ️Are willing to put more time into the application process.
If accepting payments ASAP is your priority, however, you’re better off opting for a PSP. This is often the most convenient option for businesses looking for an all-in-one payments provider.
Should you process payments with a bank?
Consider a dedicated merchant account from a bank like Chase or U.S. Bank if you want a personalized approach. You are more likely to get high-quality, one-to-one customer support — especially if there’s a local branch in your area. And you may have more negotiating power when it comes to rates. That’s important for high-volume businesses.
Banks are also ideal for business owners who know they’re going to need a loan. That’s because they can use your sales data to help you get approved. Building a longstanding relationship with your bank can work in your favor here too.
If ease of use is more important than customer support, however, you’re probably better off going with a fintech company like Helcim. They often have more modern software and user interfaces.
How to choose the best merchant service for your small business
Before committing to a merchant services provider, consider the following factors:
1. Weigh different payment processing models. Interchange-plus and subscription models can be more ideal for high-volume businesses. You might consider these if your average transaction amounts exceed $50 and you do more than $8,000 in card transactions monthly. Otherwise, flat-rate models make it easier to predict processing costs. You can compare rates across multiple providers and sales volumes with our credit card processing fees calculator.
2. Confirm your pick supports all of your sales channels. Different payment methods include online and in-person payments, contactless payments, digital wallets, QR codes and PayPal.
3. Consider all associated costs. These include the following:
- POS software. If you don’t opt for a free POS plan, you’ll have ongoing subscription fees. These typically span from $49 to $100 and up depending on their feature set.
- POS hardware. This is a one-time fee, unless you finance your POS equipment. In general, card readers are usually less expensive than countertop register systems. Hardware costs can range anywhere from around $50 to more than $1,000 depending on what you need.
- Payment processing. If you accept card payments, you’ll rack up payment processing costs. It’s inevitable, unless you choose to pass those costs to your consumers. Lots of merchant services let you do this via surcharge programs.
- Extra fees. These include costs for PCI compliance, chargebacks, setup and merchant account maintenance.
4. Make sure your provider is compatible with your POS system. It’s most convenient to use a merchant services provider that offers POS systems and payment processing services under the same umbrella. If that’s not an option, make sure the processor integrates with your POS system and, preferably, your accounting software.
5. Check customer service availability. Think about which days and times you accept the highest volume of transactions. Then check to see if live customer support is available during that time. Live chat and phone support are ideal so that you can reach a representative immediately. Some merchant service providers also assign businesses dedicated account managers for one-on-one support.
Frequently Asked Questions
Merchant services help facilitate the payment process so that merchants can collect funds from card transactions.
Merchant services include payment processing, merchant and business bank accounts and point-of-sale solutions. Some examples of merchant services providers include Helcim, Square and Stripe.
If you’d like to accept credit and debit card payments — and not just cash — your business likely needs a merchant services provider. In addition to helping your business accept card payments, merchant services can also make the checkout process more efficient by offering user-friendly POS hardware, collecting sales data, syncing that data with your accounting software and providing customer support.
Methodology
NerdWallet independently reviews point-of-sale (POS) system providers before determining our top picks. We collect the data for our software ratings from products’ public-facing websites and from company representatives. Our editorial team reviews information on a regular basis for consistency and accuracy.
We also periodically update our scoring system to reflect changing industry norms and business needs. For instance, in 2026, we added a payroll integration category to our POS systems rubric. It’s important that POS systems can sync up with payroll software to minimize manual data entry and keep track of employee hours.
NerdWallet’s POS system provider ratings reward companies whose products and services are priced well and work in a variety of payment scenarios, among other criteria.
Ratings are based on weighted averages of scores in several categories, including cost, system capabilities, contract requirements, customer service and integrations and add-ons. Learn more about how we rate POS system providers.
These ratings are a guide, but services, hardware and pricing can vary widely from business to business and provider to provider. We encourage you to shop around and compare several providers.
NerdWallet does not receive compensation for any reviews. Read our editorial guidelines.
