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Best Payment Processors for E-Commerce, Saas, & More


June 11, 2022

3 min read


Whether you have a brick-and-mortar business, an e-commerce site, or both, it’s important to have a payment processor that gives you the tools you need to run your business. Payment processors are vital for any small business owner because they make it possible for customers to pay for products and services with debit cards and credit cards. When choosing a payment processor, you’ll want to look at how much it costs, whether it offers additional equipment like terminals or card readers (if needed), and if there are any free apps that will make running your business easier. To help you choose the right one for your small business, we researched the best payment processors on the market and picked our favorites according to industry, price point, compatibility with online sales and brick-and-mortar stores, plus flexibility when it comes to letting customers use cash or checks in addition to credit cards.

Photo by Blake Wisz on Unsplash

Small businesses have a lot of choices when it comes to payment processors.

  • Payment processors are a critical component of any small business.
  • They help you collect money from customers and manage your cash flow.
  • They also help you grow your business by allowing you to accept payments in multiple currencies, accept different types of payment (including credit cards, gift cards, and checks), and more.
  • With so many options available, it’s important to understand how each processor works before choosing one.

The right one for you depends on what kind of business you have and what your needs are.

As we mentioned, there are many options available to the e-commerce entrepreneur. The right one for you depends on what kind of business you have and what your needs are.

  • Do you need a payment processor that’s going to help your business grow?
  • Are you looking for something that’s going to fit into an existing payment structure or process?
  • Do you have a big customer base with different types of transactions (e.g., subscriptions versus one-time purchases)?

If so, then Stripe Payments may be the best option for you because it offers quick onboarding and has flexible pricing plans based on volume.

We’ve researched, tested, and reviewed the top payment processors that all small businesses should take a look at.

It’s easy to get overwhelmed by the number of options out there. But we’ve done all of the hard work for you. We’ve researched, tested and reviewed the top payment processors that all small businesses should take a look at.

If you’re still trying to figure out where your business stands in terms of how much money it’s making or losing every month and why, take a look at our guide on how to make sense of your financial data.

Our favorite is Square because it provides a free point-of-sale app and works with brick-and-mortar and online businesses.

Our favorite is Square because it provides a free point-of-sale app and works with brick-and-mortar and online businesses.

  • Free point-of-sale app. The free Square POS app is available for both iOS and Android devices, making it easy for you to take payments anywhere.
  • Free mobile card reader. The free Square Reader loads onto your mobile device so that it’s always with you when you need to process a transaction on the go, even if you’re offline!
  • Free online dashboard. You also get access to a completely separate online dashboard where you can see all of the past sales made through your business, which makes reconciling payments much easier than doing it manually or using spreadsheets!

1. Square — Best for brick-and-mortar and online stores

Square is a great option for brick-and-mortar and online stores. It’s a free point-of-sale (POS) system that can be used to accept payments in person, over the phone, or online. The company was founded by Jack Dorsey (the creator of Twitter, who also serves as Square’s CEO) and Jim McKelvey back in 2009 with the goal of making it easy for small businesses to accept credit card payments on their phones.

While Square feels like an obvious choice for people who want an affordable way to easily accept payments from customers both in person and online, there are other payment processors out there that might suit your needs better depending on your specific business model. For example:

If you’re looking for an alternative payment processor because you don’t want or need a physical POS device (like a cash register), Stripe may be a better choice since it doesn’t require any hardware installation at all—just plugging your phone into one of their reader dongles should do the trick!

2. Stripe — Best for e-commerce sites

Stripe is the simplest way to accept payments online. It’s used by more than 100,000 businesses worldwide, including companies like Salesforce and Lyft.

Stripe’s main advantages are that it’s super easy to set up and use, and there are no monthly fees or minimum payments required! Whether you’re just starting out or have been running your business for a while, Stripe will help you do everything from building an ecommerce store to accepting mobile payments.

3. Clover — Best for restaurants

Clover is a mobile point-of-sale system that’s great for small businesses. If you’re running a restaurant or cafe, Clover can help increase your efficiency and cut down on manual data entry time by automatically generating receipts and sales reports.

Clover’s customer support team has one of the best track records in the industry, making it one of the easiest options to pick up if you’re new to ecommerce. There are no setup fees or contracts with Clover—you pay based on how many employees you have and how often they use the software (monthly). The free version lets users add purchases manually and create reports from those entries; paid versions unlock additional features like inventory management and mobile reporting tools.

4. PayPal — Best for international sales

If you’re selling products or services internationally, PayPal is the best option for accepting payments. It’s the largest and most widely used online payment processor in the world, and it has a huge advantage over Stripe: You can accept transactions in multiple currencies.

PayPal offers its own solution for handling international sales, called PayPal Payments Standard (formerly called Express Checkout). With this feature enabled on your store, when a customer tries to purchase something from you using one of their local currency accounts—say they’re buying books from an American publisher who accepts USD payments—they’ll be able to pay without having to worry about conversion rates or foreign exchange fees.

Photo by Patrick Tomasso on Unsplash


As you can see, there are plenty of choices for payment processors, and each has its own unique strengths. But the most important thing is to choose one that’s right for your business. We hope this guide has helped you understand how these tools work.

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