6 Best Credit Card Processing + No Early Termination Fee [2024]

Being stuck in a contract with a card processing company that doesn’t suit your business style can end up costing a lot of time and money. Maybe your business model changed from low-volume, big transactions to the polar opposite, or maybe you started doing e-commerce on the side and want to adapt your processor’s pricing to maximize profits from your new revenue source.

Whatever the case may be, my team and I have put together this list of the best card processing companies in the US today that charge no early termination fee, so you can keep your options flexible. Since it can be tricky to know in advance which processor is the right one for your business, I’ve sought to give you the key information on how well each processor is suited to different merchant types.

All things considered, I found that Stax is the best option for most businesses because it can really save you dollars if you process large sums of money each month. Plus, it has strong capabilities to deal with high-volume businesses.

1. Stax: Best Overall Credit Card Processor for Most

Stax is a great option for any business that processes over $5,000 in credit card transactions per month.

With Stax, you’ll receive a free modern payment terminal that works just like an electronic cash register. This is useful for small businesses that can’t afford an expensive POS system but still want to accept credit cards at their shop or office.

If you’re looking for modern software and a robust set of features at no extra cost, Stax offers all this plus more. It provides e-commerce functionalities like pre-built shopping carts – which make life easier when selling online – as well as advanced reporting tools and payment processing services such as same-day payouts (for an additional fee).

Stax also has a simple monthly subscription with no contracts, so there are no costly early termination fees if you decide it’s not right for your business. There are no added fees like

To get an idea of how much Stax costs, monthly subscriptions start from $99.00 and go upwards depending on the number of transactions you want to process in a month. For all subscriptions, each transaction also adds a 0% + 10¢ (in-person) fee.

Read our expert Stax review for more details.

2. Payment Depot: Best For High-Volume Businesses

Payment Depot is one of the best credit card processing out there, and it’s especially useful for big businesses that have a lot of transactions. Just like with Stax, you can save up to 40% of what you would normally pay with a non-subscription based service.

Payment Depot prides itself on easy setup – which means that you can get it ready for processing money in as little as 24 hours. You’ll get a free Dejavoo Z11 terminal, no matter which plan you choose. If your business needs it, you may even be able to ask for multiple such terminals free of charge.

With Payment Depot, you should receive your money in your account within 24 hours after every transaction, so if you’re looking for speed and convenience, this might be the right solution for you.

Payment Depot also has some nice features built-in that can help make things easier on the back end. For example, you can save time because you have the ability to dispute chargebacks directly from your account area.

Using the same dashboard, you can create and send branded invoices very easily. You can also create simple payment links for your clients so they can pay for the goods and services from wherever they are.

Just like Stax, there’s a fixed monthly subscription you have to pay starting at $79.00. Besides that, there’s an additional fee of 0% + 10¢ (in-person) on every transaction.

Check out our expert Payment Depot review for more details.

3. Chase Payment Solutions: Best for E-Commerce & Smaller Businesses

Chase Payment Solutions is great for e-commerce because it offers you the popular Authorize.net payment gateway, as well as an Orbital virtual terminal for remote transactions. In fact, Chase has partnered with BigCommerce, which is one of the greatest e-commerce website builders available.

You can get a Chase Merchant Services account if you want an all-in-one payment solution that goes beyond just accepting credit cards. This will get you access to more e-commerce and business analytics tools to help you grow your business.

What does this mean, specifically? Two things: same-day access to funds from your e-commerce sales and access to Chase’s own business analytics platform, which can record and give you useful insights into your sales, including customer demographics and your customer’s preferred shopping times.

Unlike the first two processors on this list, Chase does not offer a free POS device or cash drawer. However, there are 9 different models available for purchase at various price points depending on your needs.

Chase has no early termination fees on the monthly contract and zero subscription costs, which is great news for small businesses. You only need to pay a percentage markup and a flat fee per transaction, from for card-present transactions to 2.9% + 25¢ for e-commerce.

See our expert Chase Payment Solutions review for more details.

4. Luminous Payments: Best for In-Person Transactions

Luminous is a very easy-to-use credit card processor that can be set up in just one day, making it a great option for small businesses. The plans are extremely flexible and include five different options, from standard plans to a customizable one if your business has unique needs.

Luminous might not be the best option if you need an e-commerce solution, but it’s great for card-present transactions. This is because one plan allows you to get rid of the processing fee and let your customers pay it. This way, you encourage cash transactions, and if the customer still wants to pay by credit card, the fee is on them.

If, however, you want to use Luminous for e-commerce, you can use the integration with the NMI gateway. The good news is that it works really well, but you need to pay an extra fee for it.

Now, about devices. You’ll get a free B250 Bluetooth reader from Luminous that connects via Bluetooth to any Android or iOS device and is great for those who want something simple. If you want something more complex, like a POS device, they are available to purchase separately.

Luminous promises to pay you $1000 if you can’t save money using its processors, so it’s basically risk-free to try out its processors. Plus, there are no cancellation fees, and a monthly subscription costs just $10.00 a month plus the plan’s specific transaction fees (starting from 1.59% + 5¢ (qualified)).

Read our expert Luminous Payments review for more details.

5. SumUp: Best for Self-Employed People and Contractors

SumUp provides the best credit card processing for freelancers, digital nomads, and micro-enterprises, but it’s not really suited for big businesses. If you process less than $5000 per month, then SumUp might prove ideal for your business.

SumUp is actually available in many countries, not just the US. You can use it in most of Europe (including the UK) and many countries in South America, like Brazil. So, it’s a great choice if you travel a lot or do gigs outside of the country.

I recommend SumUp for card-present transactions as well as invoicing, but it is not very well suited for e-commerce. Its proprietary website builder is very basic, but gets the job done if all that your business needs is a very simple online shop.

In terms of customer support, SumUp has a solid reputation for being responsive and helpful in most situations. The app is very easy to use and there are plenty of tutorials available if you need more information.

The no-contract policy makes SumUp easy to use with no strings attached, and the straightforward interface makes using SumUp very simple.

You can use SumUp without risking any early termination fees. There is no monthly subscription either, you simply pay per transaction (for example, 2.75% for card-present ones and 2.90% + 15¢ for invoices).

Check out our expert SumUp review for more details.

6. ProMerchant: Great for Retail and Restaurant Businesses

ProMerchant is a great credit card processing solution especially for retail and restaurants, but you can also use it for e-commerce or even phone/mail-order, which is something rather unique on the market.

You can get a free POS terminal from ProMerchant (that you need to give back when you cancel your contract), or purchase one from the 50 different options available.

With ProMerchant, you can pay by transaction, with the cost supported by your business, or you can pay by subscription, with transaction fees paid by your customers. You can opt for the second type of subscription only if you’re in the retail or restaurant businesses, though, but it only costs a flat $7.95 per month since there are no transaction fees on your side.

A great thing about ProMerchant is that it offers accounts for high-risk merchants and actively helps them reduce the risks of chargebacks and fraud instead of turning its back on businesses that need the most support.

Next-day funding is free for all merchant accounts, which is an outstanding feature especially for small businesses that rely on every cent. Its support also includes super responsive customer service that is available 24/7 via phone and email and one-day approval for your business.

Take a look at our expert ProMerchant review for more details.

Pick the Best Credit Card Processing Company with No Early Termination Fee

I wanted to ensure that this list is filled with reliable companies catering to a range of businesses because I understand how challenging it can be to locate a great deal for processing your sales and billing your customers.

To sum it up, Stax is my top recommendation. It stands out for its very capable software and the ultra-low cost per transaction, making it an excellent choice for high-volume businesses.

If you want something similar, but more simple, Payment Depot is another great choice. The dashboard allows you to resolve most of your problems in one place, including chargebacks, and if your business qualifies, you may even negotiate to get more than one terminal free of charge.

If you have a smaller business, Chase Payments Solution is a great option. It has no monthly subscription fees, only transactional fees, making it well-suited to lower-volume businesses. Plus, you can get access to analytics and a great array of e-commerce features.

At last, here’s a condensed overview of the best credit card processors with no early termination fee:

FAQ

What is the best payment processing company with no early termination fee?

If you’re looking for the best processor on the market, Stax offers great capabilities well-suited for big businesses and charges no early termination fee. You get a modern terminal when you start out, as well as access to tons of e-commerce features.

Can you use a credit card processing solution for free?

Yes, you have the option to use a processor and pay no transaction fees if you pass them on to your customers. Chase Payment Solutions offers such a zero-cost plan for a small monthly subscription, making it a very convenient option, especially for small businesses.

How can I avoid early termination fees for credit card processors?

You can choose a company that doesn’t charge early termination fees in the first place. There are plenty of processors (like Stax) that only charge you the usual monthly and/or transaction fees, and the only thing you need to consider when breaking your contract is that you need to give back any hardware you received.

Does Payment Depot have an early termination fee?

No, Payment Depot has no penalties for canceling your contract early, which makes it a great option if you want to stay flexible in your business. However, you will need to return the terminal or terminals from Payment Depot at the end of your collaboration.