Every modern business needs the ability to accept credit cards as payment. If you can’t process this payment method, you will significantly limit your customer base. After all, credit cards are easily among the most commonly used payment methods.
But what are the best apps for credit card processing? And why does it matter which one you choose?
We’ve got you covered.
Why Is Choosing the Right Payment Processor Important?
First things first, let’s talk about why choosing the right payment processor is so crucial. Here are a few of the biggest reasons you shouldn’t take this decision lightly.
Safety and Security of Customers
Credit card payments require the processing of very sensitive information. You need a system that is PCI compliant and will protect the sensitive data transmitted during the process. If you use a less secure system, your customers’ credit card information may be hacked. That, in turn, would damage your company’s reputation.
Collect Payments with Peace of Mind
Simply put, having a reliable credit card processor lets you collect payments with peace of mind. You will know that your chosen app has excellent uptime, so it will always be working when you need it to. And you will know that your customers’ information is secure, giving you one less thing to worry about.
Proper Processing of Credit Card Payments
You can’t accept credit card payments without an app for credit card processing. But it goes beyond just ensuring that you offer an incredibly popular payment method. Accepting credit cards can also increase the average customer purchase and encourage impulse buys. One study from MIT even found that customers spend a whopping 83% more when paying with a credit card compared to cash.
6 Credit Card Processing Apps for Small Businesses
When choosing among apps for credit card processing, you want to consider the following factors:
- Cost (including the monthly fee and credit card processing fees)
- Features
- Ease of use
- Contract
- Reviews
With that in mind, take a look at some of the most popular credit card processing apps for small businesses.
Podium
Podium’s payment processing easily integrates with all of the other Podium services. This means that when you interact with customers later on, you can easily see their past purchases. In addition to credit card processing, Podium is one of the few apps to offer text-to-pay, a feature that is quickly growing in popularity.
You also get high-quality hardware, such as card readers. Aside from payments, these card readers can also help you gain reviews and marketing opt-ins.
Square
As an app for credit card processing, Square can work with a magstripe reader you attach to your smartphone or tablet. You also have the option to get a separate POS system. It is especially popular for pop-up locations and temporary businesses. Just be aware of the various add-ons, such as payroll and loyalty, when comparing prices. The processing rates can also add up very quickly.
Shopify Lite
Shopify has some affordable mobile card readers, and you get the convenience of integration with Shopify’s various eCommerce features. However, there are more affordable options, and you won’t find any extra features for food service.
PayPal (Zettle)
Zettle by PayPal comes from one of the big names in online payments, but you should be aware that it doesn’t accept offline payments. One highlight is that there is no contract nor a hidden fee to process credit card payments. You will only pay for sales made in addition to the hardware costs. The caveat is that the battery doesn’t last as long as most other card readers on the list.
Clover
Clover is one of the most popular apps for credit card processing. One highlight of choosing this processor is that it accepts offline payments. It also has a range of terminals available and offers the option of immediate access to deposits for a fee. This may be worth it if your business needs more cash flow, but you will have to weigh the cost.
It’s also worth noting that Clover is a bit more expensive than some other options, especially for small businesses with low volumes of credit card payments.
Stripe
Stripe is another big-name credit card payment app with offline payment abilities. It also has a convenient card reader that you can use with the system. Just be aware of somewhat high processing fees.
