Small business owners have a lot of problems to deal with regularly, among which sending and receiving payments online is one of the biggest issues. But, there are a lot of online payment methods that can sort things for you. In fact, the digital market has got crowded with gazillions of online payment service providers, from which small business owners can choose any according to their preferences and suitability.
Some of the most popular and most trusted payment method options that you’ve got are listed below:
Centi
Centi is a rising yet determined payment service provider which strives to provide owners of small businesses with a seamless experience of receiving micropayments in real-time at absolutely zero cost. Using this service, business owners can enjoy full control over their transactions.
Centi does not charge any periodic fee or minimum fee. It is among the few payment service providers that deal with Bitcoin and other digital cash. This feature is absolutely beneficial for the growth of small businesses.
It is easy to integrate its API for all microtransactions, payments, and loyalty.
Centi is a massive system that enables users to accept digital currency payments via already existing Point of Sales (POS) infrastructure. With the integration with existing POS systems and acquirers, a streamlined solution is available for businesses via which they can accept Bitcoin SV payments that too at fees comparatively lower than that of conventional payment networks. Plus, there is no involvement of any external hardware network. That is why it is important to find a payment service provider like Centi to grow your business.
PayPal
PayPal stands among the standard payment providers of the industry that facilitates digitally sending and receiving payments from clients. The promising feature about PayPal is incorporating PayPal checkout buttons on your business website. The checkout button facilitates the customers in accessing the PayPal gateway to buy an item from the website. The button leads the clients to the PayPal checkout page, from where they can choose any payment method to transfer money. They offer payment through credit cards, bank transfers, or by using crypto market coins. Besides this, business owners can generate, send, and receive invoices using this service.
The transaction fee charged by PayPal is 2.9% plus 30 cents. The rates get decrease when there is higher sales volume. Using PayPal Here credit card reader also decreases the rate for transactions.
Square
If there is any payment service provider that’s giving tough competition to PayPal, that’s Square. It is offering amazing transaction rates to rival the industry leader.
The exciting part about Square is that it offers a free online store site to business owners wherein they can list and sell their products and services. The items can be embedded over the website, which serves as the gateway for clients to fulfill their transactions.
Just like PayPal, Square also facilitates sending and receiving payments on invoices. A credit card reader’s facility is also available for accepting payments in-person from clients.
A 2.75% transaction fee is charged on each transaction conducted online using Square or its card reader.
Stripe
Strip has redesigned its Checkout platform to establish a one-to-one connection between the business owners and their customers. The payment service provider has also redesigned its Checkout codes to keep the customers stay on the business’ actual website and not redirect them to Stripe’s website to complete the sale.
To initiate receiving payments from customers, the stripe payment forms must be embedded onto the company’s website.
Stripe charges a fee of 2.9% plus 30 cents for each transaction.
Dwolla
Unlike other payment service providers, Dwolla facilitates money transfers via email. It does not use any app; instead, it just works through email.
The best part about Dwolla is the low transaction fees. In fact, the transactions below 10 dollars are absolutely free, whereas the other transactions are charged 25 cents. Besides, transactions between Dwolla and bank accounts are free!
PayStand
PayStand falls under the category of a new payment system generation convenient for small businesses. It charges no transaction fees. Instead, a fixed monthly fee is being charged. This payment service provider enables to accept any form of payment via credit cards, e-cash, e-checks, foreign monies, and Bitcoin.
Like other payment service providers, it also enables the incorporation of embedded product codes onto the website or into emails. Instead of directing the clients to a third-party site, pop-up windows are used.
PaySimple
This one’s an incredible payment service provider that enables accepting credit cards, debit cards, and e-checks from one system. Using this payment service provider, a business owner can set up an online payment form on his website. The service provides a credit card reader as well!
Besides that, payments for invoices sent to the customers can also be sent and received. Moreover, there is an option of Recurring billing, too which is super convenient for small business owners. A flat fee of 34.95 dollars is being charged monthly.
Braintree
Braintree is another reliable payment service provider that seamlessly facilitates receiving payments from clients on websites and mobile apps. Its promising feature enables business owners to set up recurring payments and other transactions from their customers.
The service promises a duration of half an hour for an experienced web developer to integrate Braintree into the business website.
Every transaction is charged 2.9% plus 30 cents as the service charges. Its recent offer has waived off the transaction fees for the first $50,000 of business being conducted using this service.
What’s the Best Payment Service Provider for Small Businesses?
It’s quite challenging to choose one reliable payment service provider from the industry that has got numerous payment service providers. Recently, Centi has proved itself as a reliable and promising payment service provider. At the end of the day, it all comes down to your preferences and requirements.
