Navigating through the plethora of credit card and payment processing tools can be overwhelming for any credit union looking for a solid online transition. Here at Podium, we understand the importance of having reliable, secure, and efficient payment processing tools for business success. Here are our top 10 picks, carefully selected, with the unique needs of the credit union industry in mind.
1. Podium Payments
Podium Payments not only helps you get paid faster but also aids in gathering more reviews, generating high-quality leads, and centralizing customer data. Transform your device into a card reader for rapid, secure transactions and efficiently streamline your sales tracking, follow-ups, and communication auditing. Podium Payments is your ultimate all-around tool, allowing major payment options while enabling financing, subscriptions, and Buy Now Pay Later. It’s also safeguarded by advanced fraud protection and automatic reconciliation.
With the ability to create a seamless customer experience, Podium Payments stands out as an invaluable tool in the credit union industry saving time, money, and frustration.
2. Square
Square is yet another payment processing tool that has won the trust of many businesses due to its user-friendly interface and wide array of features. As an all-in-one platform, it facilitates payment processing, inventory management, customer relationship management, and much more. It also offers the hardware needed to accept credit, debit, and mobile payments along with a free point-of-sale system.
We love Square for its comprehensive set of features that caters to all scales of business. Its flexibility and straightforward transaction fee structure are favorable for credit unions, enabling smooth operations.
3. PayPal
PayPal is a mobile application that allows businesses to process credit, debit, and PayPal payments via mobile phone or tablet. It comes with a free app and a card reader that can be plugged into your device. Fees are only charged per transaction, making it a cost-effective solution.
PayPal constitutes an ideal choice for credit unions for its global reputation, simple setup, and pay-per-transaction fee type, making your payment processing swift and smooth.
4. Stripe
Stripe offers a solution for online and in-app checkout and supports various payment methods. It also provides access to various features like billing, analytics, and fraud detection, which can benefit credit unions.
We value Stripe’s overall flexibility and user-friendly software that allows credit unions to facilitate secure and diversified payment options.
5. QuickBooks Online
QuickBooks Online is a widely acclaimed accounting software solution that provides payment processing via QuickBooks Payments. The platform accepts card payments and bank transfers and enables invoicing among its other features.
QuickBooks Online is recommended for its ability to integrate payment processing with comprehensive financial management tools, making it ideal for optimizing credit union operations.
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6. Clover
Clover offers both online and offline payment solutions and can handle a range of transactions, demonstrating flexibility and utility.
We favor Clover for its easy integration, scalable solutions, and highly customizable nature, which can prove beneficial for credit unions with a range of different needs.
7. EMSplus
EMSplus provides a low-fee payment processing solution. It offers numerous features including next-day funding, reporting tools, and excellent customer support.
EMSplus, with its low-cost processing, can significantly minimize operational expenses for credit unions while providing robust functionality.
8. Flagship Merchant Services
Flagship Merchant Services offers tailored services including ecommerce tools, credit card terminals, and remote deposit capture capability for check payments.
We suggest Flagship for its competitive rates, month-to-month contract structure, and flexible services that are mutually beneficial for both small and large credit unions.
9. Stax by Fattmerchant
Stax by Fattmerchant is a direct-cost payment processor, which means you pay a monthly subscription and then just the direct cost of each transaction.
We appreciate Stax for its predictable pricing model, robust software platform, and excellent customer support which can ease the processing burden for credit unions.
10. FreshBooks
FreshBooks is an invoicing and payment processing platform designed for small businesses. It offers speedy checkout, low transaction fees, and easy integration.
FreshBooks has our recommendation for its user-friendly interface and ability to streamline multiple accounting tasks besides payment processing, which can add significant efficiency to credit union operations.
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In this digital era, the right technology is key to staying ahead. Any of these top 10 tools can help your credit union ensure a robust digital presence, secure and efficient transactions, and delivery of excellent service to your members. As noted, integrating solutions such as Podium can further add to these efficiencies, helping your business thrive in a fast-paced, competitive market.
