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What We Look For in the Best E-Commerce Merchant Services1. Leaders Merchant Services: Industry-Low and Negotiable Rates2. Square: Best for New Online Businesses3. Flagship Merchant Services: Straightforward Application Process4. Stax Payments: Great for High-Volume Online Stores5. Payment Depot: Low Transaction Fees With Good Shopping Cart Support6. Chase Payment Solutions: Simple Pricing Plus an Integrated Bank AccountGo With One of These E-commerce Merchant ServicesFAQ
Short on Time? These Are the Best E-commerce Merchant Services in 2024
- Leaders Merchant Services – Negotiable, industry-low rates for e-commerce businesses.
- Square – Transparent pricing with free features for new online businesses.
- Flagship Merchant Services – Straightforward application process and a digital loyalty program.
What We Look For in the Best E-Commerce Merchant Services
- Payment gateway offering. Payment gateways are an important part of online commerce, as they are responsible for collecting and encrypting your customer’s payment information. All my recommendations either have a built-in payment gateway or integrate with a trusted third-party gateway.
- Affordable transaction fees. High transaction costs can eat into your profits, so I ensured I included cost-effective merchant services with transparent pricing.
- Seamless integrations. I only included options that integrate smoothly with your e-commerce platforms, shopping carts, accounting software, and other tools so you can avoid operational disruptions.
- Support for multiple payment methods. E-commerce businesses generally cater to a diverse customer base, so I made sure my recommendations accept various payment options, including credit/debit cards and digital wallets.
Our Score
Our Score
Negotiable Low Credit Card Processing Rates
Monthly Fee:
$9
Transaction Fee:
From 0.15% + $0
Pricing Model:
Multiple options
Multiple options
This payment processor allows you to choose from two or more different pricing models for paying credit card processing fees. Each model will come with its own advantages and disadvantages, so make sure to consider your options carefully before deciding which is right for your business.
Features and Benefits
- High approval rate. LMS has a 98% approval rate. So, even if your products fall within a high-risk industry or if your e-commerce business has a poor financial history, there’s a high chance LMS would give you a chance.
- Authorize.net payment gateway. LMS integrates with Authorize.net, a widely used payment gateway and virtual terminal. Authorize.net comes with end-to-end encryption to ensure that all your transactions will be kept secure.
- Dedicated chargeback department. As an LMS merchant, you can access a 24/7 chargeback department to assist you with chargebacks or fraud-related situations.
- Free POS equipment. If you sign a long-term contract with LMS, you’ll get free POS equipment. This is a great way to minimize costs if you have a physical store that complements your online business.
Software integrations | Authorize.net, CartManager, Quickbooks |
Payment methods accepted |
Credit and debit cards, digital wallets, ACH, bank transfers |
Security features | PCI-compliant, advanced fraud detection and prevention, end-to-end encryption, tokenization |
Transaction fees on cheapest plan |
~0.15% + $0 |
Monthly fee on cheapest plan |
$9.00 |
2. Square: Best for New Online Businesses
Our Score
Our Score
Advanced E-Commerce and Security Solutions for Start-Ups
Monthly Fee:
From $0
Transaction Fee:
From 2.5% + 10¢
Pricing Model:
Flat rate
Flat rate
Flat rate pricing simplifies your payment processing bill by charging the same percentage markup on every credit or debit card transaction you receive. The payment processor still pays the variable interchange fee set by the card network (e.g. Visa, Mastercard) on each transaction, but you always pay the same fixed rate regardless.
Features and Benefits
- Software integrations. Square seamlessly integrates with popular e-commerce platforms like Shopify, WooCommerce, WordPress, Wix, and Ecwid. It also integrates with other business software like ZohoBooks, QuickBooks, and ActiveCampaign.
- Advanced business software. Square offers free business tools like dashboard and reporting tools, scheduling and time-tracking software, in addition to the third-party integrations above.
- FDIC-insured business checking account. With Square’s small business checking out, you can access your sales proceeds instantly. Signing up for this account is straightforward – you don’t need to go through any paperwork or credit check, and there are no monthly fees.
- Sell without a website. You can sell your products online using Square’s buy buttons/QR codes. You don’t need a website for this – just create these links and share them with your customers through social media or email.
Software integrations | Shopify, WooCommerce, WordPress, ActiveCampaign |
Payment methods accepted |
Credit and debit cards, digital wallets, ACH, bank transfers |
Security features | PCI-compliant, end-to-end encryption, tokenization, two-factor authentication, handles PCI compliance for you |
Transaction fees on cheapest plan |
2.5% + 10¢ |
Monthly fee on cheapest plan |
$89.00 |
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3. Flagship Merchant Services: Straightforward Application Process
Our Score
Our Score
Fast Onboarding & Quick Payouts With Same-Day Funding
Monthly Fee:
From $15
Transaction Fee:
From 1.58% + 19¢
Pricing Model:
Multiple options
Multiple options
This payment processor allows you to choose from two or more different pricing models for paying credit card processing fees. Each model will come with its own advantages and disadvantages, so make sure to consider your options carefully before deciding which is right for your business.
Features and Benefits
- Merchant cash advance. Flagship provides merchant cash advances for small and mid-sized businesses. The funding process is quick and easy, and you can get up to $150,000 if approved. You then repay the funds through a percentage of your daily debit and credit card transactions.
- Digital loyalty program. Flagship partners with Pirq, a loyalty program, to enable you to track your customers’ buying trends and reward them accordingly. It’s a great way to drive repeat purchases.
- iAccess business management portal. This portal helps you track your store’s sales volume, generate statements, and analyze competitors to make informed decisions for your e-commerce business.
- MobilePay by PaySafe. MobilePay by PaySafe is Flagship’s free mobile app. It allows you to accept keyed-in payments through your phone, allowing you to process payments anywhere in the world.
Software integrations | Authorize.net, Flagship API supports multiple integrations |
Payment methods accepted |
Credit and debit cards, digital wallets, ACH, bank transfers |
Security features | PCI-compliant, end-to-end encryption, tokenization, advanced fraud detection and prevention, payer verification |
Transaction fees on cheapest plan |
1.98% + 0.21¢ (online) |
Monthly fee on cheapest plan |
$7.95 |
Our Score
Our Score
Save Up to 40% on Credit Card Processing Fees
Monthly Fee:
From $99
Transaction Fee:
From 8¢
Pricing Model:
Subscription
Subscription
With subscription-style pricing, you’ll pay a fixed monthly fee instead of a percentage-based markup on each credit and debit card transaction. While this will considerably reduce your per-transaction fees, you’ll typically still pay a small flat fee on each transaction. This amount is unaffected by the variable interchange fees charged by the different card networks (e.g. Visa, Mastercard), helping to keep your payment processing fees more predictable.
Features and Benefits
- Zapier integration. In addition to the direct integrations that Stax provides, such as with Shopify, it gives you access to hundreds of other third-party software tools via Zapier.
- Stax Pay. This is Stax’s all-in-one payment platform for exploring sales data, viewing customer information, creating invoices, and scheduling payments.
- Multiple payment gateways. Stax provides access to both Authorize.net and NMI payment gateways. This gives you more choice than most other merchant services.
- Stax Connect. If you run a SaaS business, you can use Stax Connect to integrate payments on your software platform and provide a smooth payment process for your merchants.
Software integrations | Shopify, WooCommerce, Zapier, Authorize.net |
Payment methods accepted |
Credit and debit cards, digital wallets, ACH, bank transfers |
Security features | Level 1 PCI-compliant, tokenization, end-to-end encryption, multi-factor authentication, advanced fraud detection and prevention, payer verification |
Transaction fees on cheapest plan |
15¢ + interchange (online) |
Monthly fee on cheapest plan |
$99.00 |
5. Payment Depot: Low Transaction Fees With Good Shopping Cart Support
Our Score
Our Score
Excellent Customer Service Backed by a Dedicated Risk Monitoring Team
Monthly Fee:
From $79
Transaction Fee:
From 0% + 10¢
Pricing Model:
Subscription
Subscription
With subscription-style pricing, you’ll pay a fixed monthly fee instead of a percentage-based markup on each credit and debit card transaction. While this will considerably reduce your per-transaction fees, you’ll typically still pay a small flat fee on each transaction. This amount is unaffected by the variable interchange fees charged by the different card networks (e.g. Visa, Mastercard), helping to keep your payment processing fees more predictable.
Features and Benefits
- Comprehensive payment dashboard. You can manage many of your business operations within your Payment Depot dashboard. These include tracking sales performance, manually keying in card details, creating and sending payment links and branded invoices, and running promotions.
- Free Dejavoo terminal. Every Payment Depot merchant is entitled to a free Dejavoo terminal, allowing you to save on hardware costs. (You can also pay for a different device if you choose.)
- Next-day payouts. Payment Depot offers next-day deposits as standard, so you can expect to receive your funds in your bank account within 24 hours after processing them.
- Great phone support. Payment Depot’s phone support makes up for its poor live chat and email support. When you call them, you’ll always reach friendly representatives who are willing to engage with you and help you solve any issues.
Software integrations | Shopify, WooCommerce, Magento, BigCommerce, QuickBooks, Authorize.net |
Payment methods accepted |
Credit and debit cards, digital wallets, ACH, bank transfers |
Security features | Level 1 PCI-compliant, tokenization, end-to-end encryption, payer authentication, 24/7 fraud risk monitoring |
Transaction fees on cheapest plan |
0.2%-1.95% |
Monthly fee on cheapest plan |
$0 |
6. Chase Payment Solutions: Simple Pricing Plus an Integrated Bank Account
Our Score
Our Score
Favorable Flat Rate Pricing & E-Commerce Features for SMEs
Monthly Fee:
$0
Transaction Fee:
From 2.6% + 10¢
Pricing Model:
Flat rate
Flat rate
Flat rate pricing simplifies your payment processing bill by charging the same percentage markup on every credit or debit card transaction you receive. The payment processor still pays the variable interchange fee set by the card network (e.g. Visa, Mastercard) on each transaction, but you always pay the same fixed rate regardless.
Features and Benefits
- Customer Insights. Customer Insights is Chase’s powerful business analytics software. It makes it easy to monitor your sales, compare sales trends against competitors, view customer demographics, and track the time of day your customers mostly shop.
- Gateway and virtual terminal. Chase integrates with Authorize.net (a payment gateway and virtual terminal) and the Orbital virtual terminal. Both are excellent options for receiving card-not-present transactions.
- Multiple specialized payment software. Chase powers or integrates with 10 specialized business software tools, like FuseBill for managing subscriptions, BuilderTrend for project management and invoicing, and many more.
- Comprehensive developer toolkit. If Chase doesn’t provide the specific software solution you need, you can develop it yourself. The developer toolkit includes documentation to guide you through the integration process and a sandbox environment for testing your development.
Software integrations | BigCommerce, Authorize.net, Orbital |
Payment methods accepted |
Credit and debit cards, digital wallets, ACH, bank transfers |
Security features | PCI-compliant, tokenization, end-to-end encryption, advanced fraud detection and prevention, payer verification |
Transaction fees on cheapest plan |
2.9% + 25¢ |
Monthly fee on cheapest plan |
N/A |
Go With One of These E-commerce Merchant Services
If you want to process online payments, you will need a cost-effective merchant service that provides a payment gateway, whether proprietary or third-party. Fortunately, my recommendations fall under this category. If you’re looking for the most affordable fees, I recommend Leaders Merchant Services. It provides extremely low rates but also allows you to negotiate better rates when you contact the support team. It also provides a secure shopping cart tool to easily integrate into your e-commerce store. If you’re just starting your e-commerce journey, consider Square instead. Square is great for new online businesses because it offers many free good-to-haves, such as a ‘free’ plan with an online store builder. Lastly, if you want to start accepting payments the same day you apply for a merchant account, open an account with Flagship Merchant Services – you can start selling in a couple of hours. The gift card and loyalty programs are also great to have.If you’re still on the fence, here’s a quick breakdown of the best merchant services for online businesses.
Best Feature | Best For | Monthly fee on cheapest plan |
Transaction fees on cheapest plan |
||
Leaders Merchant Services |
Low, negotiable fees and shopping cart tool | E-commerce businesses that want to negotiate the best possible rates | $9.00 | ~0.15% + $0 | |
Square | Free online store builder | New e-commerce businesses looking to minimize costs | $89.00 | 2.5% + 10¢ | |
Flagship Merchant Services |
Fast onboarding process | Businesses looking to accept payments as soon as possible | $7.95 | 1.98% + 0.21¢ (online) | |
Stax Payments |
Simple pricing plans with low transaction fees | Online businesses earning at least $8,000 a month | $99.00 | 15¢ + interchange (online) | |
Payment Depot |
Flat-rate pricing and low interchange rates | SMBs looking for simple pricing | $0 | 0.2%-1.95% | |
Chase Payment Solutions |
Fast payouts and business checking account | Online merchants also looking for a business bank account | N/A | 2.9% + 25¢ |