Our Top Picks

Adyen
Adyen
  • Compatible credit/debit cards: Visa, Mastercard
  • Fund transfer speed: 1 to 3 days
  • Supported devices: Android, iPhone/iPad, Mac
Adyen offers a full range of payment options for any business or industry, and mobile capabilities allow them to accept payments anywhere. Its payments platform supports all major payment methods around the globe, including ACH Direct Debit, American Express, Diners Club, Discover, Mastercard, PayPal, Samsung Pay and Visa. Businesses can also accept mobile wallets, including:

Google Pay through integration of the Google payment API that enables an effortless checkout experience by allowing customers to pay with any credit or debit cards stored in their Google accounts. Customers enjoy seamless online checkouts in Android apps or on Chrome with a mobile device.

Apple Pay has a single integration that supports payments made in the app, on the web or in store, including contactless payments at the point of sale. As a fully certified Apple Partner, Adyen supports Apple’s tokenization standards and offers full-service solutions, including reporting, reconciliation and settlement services.

Pros & Cons

Adyen doesn’t charge setup, monthly, integration or closure fees, but it does require a $120 minimum invoice each month. Funds may arrive in a day, but it can take up to three days. Repeat customers benefit from rewards points and loyalty/gift card storage.

Pros

  • 24/7 in-house support via phone and email
  • Offers rewards points and loyalty/gift card storage
  • Provides international support

Cons

  • Fund transfer may take up to three days
  • Requires minimum invoice of $120

What Customers Are Saying

Customers praise Adyen’s ability to accept payments wherever they are. One customer said, “Its flexible platform, with continual enhancements, keeps pace with our evolving needs. So, whether we are expanding into new markets, supporting new methods, or moving to a new business model, we know we have payments covered.”

Summary

  • Starting Price
    • No montly fees, but minimum invoice of $120/mo requied
    • $0.12 processing fee/transaction plus payment method fee
  • Transaction Limit
    -
  • Compatible Credit/Debit Cards
    Mastercard, Visa
  • Loyalty/Gift Card Storage
    Yes
Features
  • Compatible credit/debit cards: Visa, Mastercard
  • Fund transfer speed: 1 to 3 days
  • Supported devices: Android, iPhone/iPad, Mac
Apple-Pay
Apple Pay
  • Compatible credit/debit cards: Visa, MasterCard, American Express
  • Fund transfer speed: 1 to 3 days
  • Supported devices: iPhone/iPad, Mac
Apple Pay is an easy, secure way for customers to pay for goods, services and subscriptions and make donations. Customers authorize payments and provide contact and shipping information using iOS and watchOS apps or websites in Safari. Apple Pay can also be used in iMessage and Business Chat extensions. Customers use credentials securely stored in their devices, including Touch ID, Face ID and double-clicking Apple Watch, to keep personal information safe.

Businesses can offer express checkout by displaying the Apple Pay button on cart or product pages that allow customers to complete their purchases with a single touch. Simplifying transactions can help increase conversion rates by decreasing cart abandonment. Web-based Apple Pay integrations work with popular eCommerce platforms, including Shopify, Salesforce, BigCommerce, WooCommerce, GoDaddy, Squarespace, Miva, IBM, neto, Volusion and Symphony Commerce. Businesses can also create contactless passes for gift cards and rewards cards to encourage mobile payments and repeat business.

Pros & Cons

Unlike companies with low transaction limits, Apple Pay offers generous daily and weekly transaction limits of $10,000. It also offers rewards points and loyalty/gift card storage to encourage repeat business and utilizing mobile payments. Fund transfers can be as quick as a day but can take up to three.

Pros

  • Offers generous transaction limits
  • Provides rewards points and loyalty/gift card storage
  • Supplies international support

Cons

  • Only compatible with iOS products
  • Fund transfers can take up to three days

What Customers Are Saying

Apple Pay receives many positive remarks from customers who enjoy the ease and convenience of paying with their phone and from businesses whose customers appreciate the option. One business owner said, “I even upgraded my computers and credit card scanners so that I’m able to accept all forms of payment.”

Summary

Apple-Pay
Apple Pay
  • Starting Price
    • Free
  • Transaction Limit
    Per message, you can send or receive a minimum of $1
    Per message, you can send or receive up to $10,000
    Within a 7-day period, you can send or receive a maximum of $10,000
  • Compatible Credit/Debit Cards
    Visa, MasterCard, American Express
  • Loyalty/Gift Card Storage
    Yes
Features
  • Compatible credit/debit cards: Visa, MasterCard, American Express
  • Fund transfer speed: 1 to 3 days
  • Supported devices: iPhone/iPad, Mac
Authorize.net
Authorize.net
  • Compatible credit/debit cards: Visa, MasterCard, Discover, American Express, Diners Club, JCB
  • Fund transfer speed: 2 business days
  • Supported devices: Android, iPhone/iPad, Mac
Authorize.net offers payment solutions for businesses that sell in store, online or through mobile devices to make it easy to accept all types of payments, including EMV chip cards and digital payments. It allows businesses to use Visa Click to Pay for single sign-on and easy checkout, Apple Pay for Safari users to make purchases with a touch of a button and PayPal Express Checkout and eCheck processing. Businesses based in the United States, United Kingdom, Europe, Canada and Australia can accept international payments from anywhere around the world. Other features include:

  • Fraud prevention

  • Customer information manager

  • Recurring payments

  • Invoicing

  • Simple checkout
Authorize.net requires a payment gateway and a merchant account. Businesses that already have merchant accounts can choose the payment gateway only option, and those that don’t can opt for an all-in-one option that sets them up with both. Businesses can even add a secure card reader, if needed.

Pros & Cons

Authorize.net is compatible with all major credit cards, including Visa, Mastercard, American Express, Discover, JCB and Diners Club. It also offers native iOS, Android and SKD support. However, it charges a $25 monthly gateway fee on top of transaction fees and can take up to two days for fund transfers.

Pros

  • Compatible with all major credit cards
  • Offers native iOS, Android and SDK support
  • Provides 24/7 live rep support

Cons

  • Can take up to two days for fund transfers
  • Charges monthly gateway fee

What Customers Are Saying

“Authorize.Net helps us accept credit cards from everywhere … in the shop, online and even at bike races and events with the mobile app and card reader. The service is an integral part of our business,” one customer said. Customers also like its ease of use and reports.

Summary

Authorize.net
Authorize.net
  • Starting Price
    • 2.9% + $0.30 per transaction
  • Transaction Limit
    Transaction size limit is $100 and the monthly volume limit for eCheck is $5000
  • Compatible Credit/Debit Cards
    Visa, MasterCard, Discover, American Express, Diners Club, JCB
  • Loyalty/Gift Card Storage
    Yes
Features
  • Compatible credit/debit cards: Visa, MasterCard, Discover, American Express, Diners Club, JCB
  • Fund transfer speed: 2 business days
  • Supported devices: Android, iPhone/iPad, Mac
Azimo
Azimo
  • Compatible credit/debit cards: Visa, Mastercard, Maestro
  • Fund transfer speed: 1 day
  • Supported devices: Linux, Android, iPhone/iPad, Mac
Azimo offers a fast way for individuals to send money to over 200 countries in more than 80 currencies to mobile phones, bank accounts or 300,000 pick-up locations worldwide. It offers 24/7 deliveries without any weekend delays to selected countries and instant or one-hour transfers to more than 80 countries, with one-day transfers for other locations. Azimo’s mobile app allows users to send money on the go, and individuals receive the first two transfers fee-free.

Azimo Business lets small to medium businesses pay international invoices from suppliers in over 180 countries in more than 60 currencies. Businesses can also pay overseas employees or other expenses. Recipients don’t need an Azimo account to receive their funds. Global money transfers provide same-day delivery with up to 90% savings on international business payments. Businesses can send funds directly from their bank accounts or credit/debit cards and receive their first five transfers fee-free.

Pros & Cons

Azimo supports iOS and Android devices like most companies, but it also supports Linux-based devices — something no other company on the list does. It boasts one-day transfers, with some locations receiving transfers within one hour or even instantly. However, if you read the fine print, some transactions take two days.

Pros

  • Fund transfers in one day
  • Supports Linux, iOS, Mac and Android devices
  • Offers rewards points and loyalty/gift card storage

Cons

  • Only offers money transfers
  • Pricing in pounds sterling
  • Based in the Netherlands

What Customers Are Saying

Customers frequently comment on the app’s ease of use and quick processing time, including one customer who said, “This is the best money transfer app that i have used, money get to receiver before time specified and their app is easy to use.”

Summary

  • Starting Price
    • First 2 Azimo transfers are fee-free
    • Azimo Business customers get 5 fee-free transfers, low as £0.59 per transfer
  • Transaction Limit
    The minimum amount you can transfer overseas with Azimo is NOK55 (EUR5)
  • Compatible Credit/Debit Cards
    Visa, Mastercard, Maestro
  • Loyalty/Gift Card Storage
    Yes
Features
  • Compatible credit/debit cards: Visa, Mastercard, Maestro
  • Fund transfer speed: 1 day
  • Supported devices: Linux, Android, iPhone/iPad, Mac
Circle-Pay
Circle Pay
  • Compatible credit/debit cards: Visa, MasterCard
  • Fund transfer speed: 1 to 2 business days
  • Supported devices: Android, Apple
Circle Pay offers users with internet businesses a new way to collect payments with USD Coin, a regulated stablecoin backed by cash and short-term US government treasury bonds. USDC offers a scalable, global alternative for internet payments. Users can receive funds from customers in over 80 countries via bank transfers and credit cards, convert these funds into USD coins and make payments with these coins.

Funds are settled into users’ USDC Business Accounts, which can be cashed out at any time, with one USDC always equaling $1. Settlements take between one and three business days for credit cards, but it’s faster with wire transfers. Funds are irreversible, nearly free and based on specific transactions.

Pros & Cons

Unlike some companies listed, Circle Pay doesn’t require a minimum transfer amount, and it doesn’t have a maximum transfer limit. Funds are settled within a day or two with USDC Coins equivalent in worth to US dollars. It doesn’t offer rewards points or loyalty/gift card storage for repeat customers.

Pros

  • No minimum transfer fee required
  • No maximum transfer limit
  • Provides international support

Cons

  • Doesn’t offer reward points
  • Doesn’t offer loyalty/gift card storage

What Customers Are Saying

Customers remark on Circle Pay’s quick processing and customer service. One customer said, “You could add money to your circle pay account from any account you had at any bank instantly, then cash out to a different card or bank instantly, eliminating the long drawn out 3-4 day wait at a normal institution.”

Summary

Circle-Pay
Circle Pay
  • Starting Price
    • Card: 2.9% + $0.30 per transaction
    • Bank: $2 per successful wire
    • Enterprise: Contact for quote
  • Transaction Limit
    Min. Transfer Amount: $0
    Max. Transfer Amount: No limit
  • Compatible Credit/Debit Cards
    Visa, MasterCard
  • Loyalty/Gift Card Storage
    No
Features
  • Compatible credit/debit cards: Visa, MasterCard
  • Fund transfer speed: 1 to 2 business days
  • Supported devices: Android, Apple
Intuit-GoPayment
Intuit GoPayment
  • Compatible credit/debit cards: Mastercard, Visa, American Express, Discover
  • Fund transfer speed: 2 to 3 business days
  • Supported devices: Android, iPhone/iPad, Mac
Intuit GoPayment is now QuickBooks GoPayment, a mobile point of sale app that allows businesses to receive payments on the go for goods and services. The plug-in card reader works on iOS Android devices, and sales integrate with QuickBooks Online, making it easy to manage funds and expenses. Bluetooth capabilities within the card reader allows business owners to accept magnetic stripe and EMV chip cards, plus Google Pay, Apple Pay and Samsung Pay.

GoPayment offers a free plan with transaction fees starting at 2.4% + $.25, or customers can choose a fee-based plan that includes a $20 per month charge and starting fees dropping to 1.6% + $.25 and includes PCI service. Non-monthly fee plans don’t include PCI service, which costs $9.95 per month. Businesses that don’t already have QuickBooks Online can sign up with subscriptions starting at $12.50 per month. QuickBooks Online is required to process invoices, but merchants can process other payments using the stand-alone GoPayment.

Pros & Cons

QuickBooks GoPayment integrates with QuickBooks Online, which sets it apart compared to some services on the list. It also offers rewards points and loyalty/gift card storage to encourage repeat sales. Funds take two to three business days to transfer, which could delay monies received late in the week.

Pros

  • QuickBooks integration sets GoPayment apart
  • Offers rewards points
  • Offers loyalty/gift card storage

Cons

  • Customer support only available during business hours
  • Fund transfers take two to three business days

What Customers Are Saying

“I love the multi-platform compatibility, and the ease of use for mobiles. The fact that we’re a small business and quite roving also means being able to manage critical payments on the go is key,” one customer said. Customers also enjoy the straightforward interface and Bluetooth capability.

Summary

Intuit-GoPayment
Intuit GoPayment
  • Starting Price
    • Pricing starts at $12/month
    • ACH bank transfers: 1% (max $10)
    • Card - Swiped: 2.4% + $0.25
    • Card - Invoiced: 2.9% + $0.25
    • Card - Keyed: 3.4% + $0.25
    • Charge $7500+/month: Contact for quote
  • Transaction Limit
    Some QBO Payment users may have a limit on how much they can get paid online for both ACH Bank Transfer or Credit Card in a 30-day rolling period, contact QuickBooks Payments Team for more info
  • Compatible Credit/Debit Cards
    Mastercard,Visa, American Express, Discover
  • Loyalty/Gift Card Storage
    Yes
Features
  • Compatible credit/debit cards: Mastercard, Visa, American Express, Discover
  • Fund transfer speed: 2 to 3 business days
  • Supported devices: Android, iPhone/iPad, Mac
LevelUp
LevelUp
  • Compatible credit/debit cards: Visa, Mastercard
  • Fund transfer speed: 24 hours
  • Supported devices: Android, iPhone/iPad
LevelUp is a free app that allows customers to pay for goods and services using their mobile phones at brick-and-mortar locations. Customers download the app to their iPhone or Android phones or use a card with a custom QR code. Businesses need a LevelUp scanner that can be integrated into their POS system, or they can download the free merchant app to a smartphone or other mobile device.

For POS sales, the customer scans their QR code from either their phone or card when prompted, and the sale is processed. When using the merchant app, businesses process transactions using a mobile device. While the app is free and there aren’t any processing fees, businesses still pay for customer acquisition and loyalty programs. They pay $.40 for every dollar of credit a customer uses through the acquisition or loyalty programs.

Pros & Cons

LevelUp offers reward points and various loyalty and acquisition programs to customers to encourage repeat sales. It also delivers funding in 24 hours, a shorter time frame than many of the services listed. However, it only currently supports iPhone and Android phones, so it may not be available to everyone.

Pros

  • Funding in 24 hours
  • Offers email, phone and live customer support
  • Offers reward points and loyalty programs

Cons

  • Only supported on iPhone and Android phones

What Customers Are Saying

“I really like the fact that LevelUp combines payment and loyalty functionality in one interface,” one customer said. Another customer said, “LevelUp has the most modern and intuitive UI in the market for mobile payment and rewards available.” Customers also like its ease of use and discreet tip function.

Summary

  • Starting Price
    • Contact for quote
  • Transaction Limit
    Initial period of $100 per transaction by the same user, contact for more details
  • Compatible Credit/Debit Cards
    Mastercard, Visa
  • Loyalty/Gift Card Storage
    Yes
Features
  • Compatible credit/debit cards: Visa, Mastercard
  • Fund transfer speed: 24 hours
  • Supported devices: Android, iPhone/iPad
Lightspeed
Lightspeed Retail
  • Compatible credit/debit cards: Visa, MasterCard
  • Fund transfer speed: 2 business days
  • Supported devices: iPhone/iPad, Mac
Lightspeed Payments allows businesses to take payments in store and online without any third-party accounts required. Lightspeed has built-in PCI compliance, global fraud prevention and end-to-end encryption to keep data safe. Everything is automatic, with a fully integrated system that allows business owners to pull batch reports and settlements directly from the POS in real time. Businesses also benefit from Lightspeed’s free, start-to-finish dispute management and their own dedicated expert to assist with chargeback management.

Accept all the popular payment types with EMV-compatible terminals and pay the same low rate, regardless of which card network is used. Add contactless Mobile Tap payments through an iPad with Bluetooth connectivity. Mobile Tap is only available in the United States and Canada and lets consumers use their cards with a single tap at the checkout, anywhere in the store or even curbside. Accepting payments on the go is convenient and helps deter long lines.

Pros & Cons

Lightspeed offers free one-on-one onboarding sessions, demos, webinars and unlimited 24/7 support to ensure customers have help whenever needed. It also offers reward points and loyalty and gift card programs to encourage repeat customers. However, its mobile app doesn’t currently support Android devices and is only available in North America.

Pros

  • Unlimited 24/7 customer support
  • Offers rewards points
  • Offers loyalty/gift card storage

Cons

  • Doesn’t support Android devices
  • Some products only available in North America

What Customers Are Saying

Customers laud Lightspeed’s ease of use and helpful customer service. One customer said, “Setup and use is super easy. Customer service is great and always there. Being able to sync it to our website and marketplaces … have given us an online business we didn’t think we could ever have.”

Summary

Lightspeed
Lightspeed Retail
  • Starting Price
    • Basic: $79/mo
    • Starter: $119/mo
    • Standard: $139/mo
    • Advanced: $189/mo
    • Pro: $259/mo
    • Enterprise: Contact for quote
    • Annual discounts available
  • Transaction Limit
    -
  • Compatible Credit/Debit Cards
    Visa, MasterCard
  • Loyalty/Gift Card Storage
    Yes
Features
  • Compatible credit/debit cards: Visa, MasterCard
  • Fund transfer speed: 2 business days
  • Supported devices: iPhone/iPad, Mac
NCR-Silver
NCR Silver
  • Compatible credit/debit cards: Mastercard, Visa
  • Fund transfer speed: Unknown
  • Supported devices: Android, iPhone/iPad
NCR Silver offers the payment processing equipment and services business owners need, whether they’re opening a new shop or integrating new technology with an existing setup. NCR is one of the few end-to-end payment processors, so all payments from all sources, including eCommerce and swipe-through authorizations, are covered. Its PCI DSS-certified payment platform ensures safe processing of all major credit and debit cards.

Businesses can take payments anywhere with its mobile SwipeSimple POS system. This system saves customer information, including purchase history to process repeat orders. Other mobile POS features include accessing reports to grow the business and setting up scheduled payments, installments and subscriptions by utilizing a repeat customer’s saved payment information. MyMobileMoney allows merchants to take keyed card payments online or via mobile devices and access transaction data from anywhere with cloud-based software. All of NCR’s readers are EMV compliant, but readers aren’t required to take mobile payments.

Pros & Cons

NCR Silver has built-in loyalty tools to drive loyalty and increase revenue through repeat visits. It also offers 24/7/365 live customer support to ensure businesses have the help they need and offers all-inclusive monthly subscriptions that include payment processing hardware. Unknown fund transfer speeds make it difficult to compare.

Pros

  • 24/7 live rep customer support
  • Built-in loyalty tools
  • All-inclusive monthly subscription

Cons

  • Unknown fund transfer speed

What Customers Are Saying

“NCR Silver offers one of the best point-of-sale services with only one app installment on a tablet, the interface is quite simple, including inventory capacity,” one customer said. Other features frequently praised include its favorites menu, option to print or email receipts and simple, customizable interface.

Summary

NCR-Silver
NCR Silver
  • Starting Price
    • NCR Silver POS starts at $79/mo
    • NCR Silver with EMV service starts at $89/mo
    • NCR Silver Pro Restaurant Edition starts as low as $149/mo
  • Transaction Limit
    -
  • Compatible Credit/Debit Cards
    Mastercard, Visa
  • Loyalty/Gift Card Storage
    Yes
Features
  • Compatible credit/debit cards: Mastercard, Visa
  • Fund transfer speed: Unknown
  • Supported devices: Android, iPhone/iPad
PayPal
PayPal One Touch
  • Compatible credit/debit cards: Mastercard, Visa, American Express, Discover
  • Fund transfer speed: 30 minutes
  • Supported devices: Android, iPhone/iPad
PayPal is one of the most recognizable platforms for money transfers, but it also offers several mobile payment processing solutions. PayPal One Touch allows consumers to skip login and billing information and check out at any business that accepts PayPal with one touch on their smartphone. For businesses, the PayPal Commerce Platform makes it easy for their customers to pay any way they want from almost anywhere. Take online payments simply by adding PayPal as a payment option on eCommerce sites and accept in-person card and contactless payments with various chip, tap and swipe readers and accessories that are compatible with most smartphones and tables.

Businesses can use PayPal Checkout to accept PayPal payments, PayPal Credit, Venmo and all major credit and debit cards online. Choose the PayPal Here mobile app to process transactions using a card reader attached to a smartphone or tablet. It can also create invoices and track sales.

Pros & Cons

PayPal is a highly recognized name that puts many merchants and consumers at ease. It offers robust fraud protection to protect its users. Some fund transfers are instant, but others take one to five days depending on the bank and transfer method. Customer support is limited to online support only.

Pros

  • Some fund transfers are instantaneous
  • Offers fraud protection
  • Offers loyalty/gift card storage

Cons

  • Only offers online support
  • Fees vary based on product used

What Customers Are Saying

PayPal customers like its pricing and brand recognition. One customer said, “The thing that led us over to PayPal was how easily integrated it was with other platforms as well as how familiar everyone already is with it. The pricing is competitive per transaction and it easily allows for international invoicing and payment.”

Summary

PayPal
PayPal One Touch
  • Starting Price
    • Website Invoice or Email Payments: 4.4% + $0.30
    • eBay: 3.9% + $0.30
    • International sales: currency conversion fee may apply
    • Discounted rate for merchants
  • Transaction Limit
    Maximum send amount: up to $60,000, may be limited to $10,000 in a single transaction
    Minimum withdrawal amount: $1
    Maximum withdrawal amount per transaction: $5,000
    Maximum withdrawal amount per day: $5,000
    Maximum withdrawal amount per week: $5,000
    Maximum withdrawal amount per month: $15,000
    Maximum withdrawal amount per transaction: $25,000
  • Compatible Credit/Debit Cards
    Mastercard,Visa, American Express, Discover
  • Loyalty/Gift Card Storage
    Yes
Features
  • Compatible credit/debit cards: Mastercard, Visa, American Express, Discover
  • Fund transfer speed: 30 minutes
  • Supported devices: Android, iPhone/iPad
Sage-Estimating
Sage Payment Solutions
  • Compatible credit/debit cards: Mastercard, Visa
  • Fund transfer speed: 3 to 4 Days
  • Supported devices: Android, iPhone/iPad, Mac
Sage Payment Solutions, called Paya Mobile Payments on Google Play, is a solution for mobile credit card acceptance, complete with the tools needed to manage a business, including customized receipts, product catalogs, signature capture and tax and tip calculators. It caters to businesses of all sizes and lets them accept payments anywhere from major digital wallet providers using popular mobile devices and carriers. Businesses can process credit cards using a swiper or a terminal for contactless or NFC payments. Customers can securely use Apple Pay, Google Wallet and Samsung Pay with full PCI DSS certification and end-to-end encryption of cardholder data.

Businesses enjoy unlimited monthly credit card transactions and settlements within 48 hours of each transaction. It can also record offline sales and process them later, process voids and refunds and manage inventory. Customized receipts sent via email promote consumer marketing by adding business logos, custom messages and contact information.

Pros & Cons

While some processors cap the number or dollar amount of credit card transactions in a given month, Sage offers unlimited transactions. It also touts payments within 48 hours of each transaction, but some payments may take up to four days. Customer support is limited to email and ticket support.

Pros

  • Unlimited credit card processing
  • Payments within 48 hours of transaction
  • Reward points and loyalty/gift card storage

Cons

  • Limited customer support
  • Funds may not transfer for up to four days

What Customers Are Saying

Sage customers often remark on the improvement it has made in quickly processing credit card transactions and accessing recorded transactions. One customer said, “Now we can use our terminals on our [tablets] and phones and other mobile devices. It’s really broadened our range.”

Summary

Sage-Estimating
Sage Payment Solutions
  • Starting Price
    • Contact for quote
  • Transaction Limit
    no limit
  • Compatible Credit/Debit Cards
    Mastercard, Visa
  • Loyalty/Gift Card Storage
    Yes
Features
  • Compatible credit/debit cards: Mastercard, Visa
  • Fund transfer speed: 3 to 4 Days
  • Supported devices: Android, iPhone/iPad, Mac
Samsung-Pay
Samsung Pay
  • Compatible credit/debit cards: Visa, Mastercard, American Express, JP Morgan Chase, Bank of America, Citi, US Bank, PNC, Chase
  • Fund transfer speed: Unknown
  • Supported devices: Android, Mac
Samsung Pay is a mobile purchasing app that works in stores at most credit card payment terminals. Consumers can also use it in-app and online by loading their cards into the digital wallet on their mobile devices and paying for their purchases with a single tap. For business owners, Samsung Pay usually doesn’t require any additional or upgraded equipment for customers to make a payment. It doesn’t require an NFC-enabled terminal and works nearly anywhere customers normally swipe their credit cards.

Samsung Pay allows users to earn cash back and get rewards for everyday purchases, and each transaction is covered by the credit card issuer’s or bank’s fraud protection. Transactions also must be authenticated by the card owner’s PIN, fingerprint or iris scan. Samsung Pay integrates secure functionalities into the mobile app, including Samsung Knox and tokenization, to add extra layers of security. Samsung Pay is the most accepted mobile payment.

Pros & Cons

Samsung Pay offers incentives to use its mobile app with various reward and loyalty programs, including earning cash back. It also offers chat support should there be any issues. Loading and receiving limits are low, but this should only affect the user, not the merchant.

Pros

  • Chat support
  • Reward points and loyalty programs
  • International support

Cons

  • Unknown fund transfer speed
  • Low limits on loading and receiving funds

What Customers Are Saying

“Having this option was very convenient as many of our clientele would not carry adequate cash and we did not have any other credit/debit card processing system in place,” said one merchant. App users like the convenience of paying with their phone instead of carrying around cash and cards.

Summary

Samsung-Pay
Samsung Pay
  • Starting Price
    • Free
  • Transaction Limit
    Able to load or receive funds multiple times
    Daily: up to 8 transactions with a max total that is not to exceed $1,500
    Weekly: up to 10 transactions with a maximum total that is not to exceed $2,500
    Monthly: up to 40 transactions with a maximum total that is not to exceed $3,500
  • Compatible Credit/Debit Cards
    Visa, Mastercard, American Express
  • Loyalty/Gift Card Storage
    Yes
Features
  • Compatible credit/debit cards: Visa, Mastercard, American Express, JP Morgan Chase, Bank of America, Citi, US Bank, PNC, Chase
  • Fund transfer speed: Unknown
  • Supported devices: Android, Mac
Venmo
Venmo
  • Compatible credit/debit cards: MasterCard, Visa, American Express, Discover
  • Fund transfer speed: 1 to 3 business days
  • Supported devices: Android, iPhone/iPad, Mac
Venmo is a social payments service used for mobile purchases with supported Android and iOS devices. Consumers can share payments with family, friends and select approved businesses by using money in their Venmo account or bank account or debit cards linked to their account. There’s never a fee for transferring money from Venmo using Venmo balances, debit cards, bank accounts or prepaid cards, but there’s a 3% fee when using credit cards. Making purchases online or in other apps is always free.

Businesses can give customers a popular payment option on their online eCommerce sites or apps. To accept Venmo, they must integrate the service into Braintree or PayPal Checkout. Venmo transactions process and settle like regular credit card transactions. Venmo payments incur the same fees as PayPal payments when integrated with this processor, and Braintree fees are 2.9% + $.30 per transaction with custom pricing available.

Pros & Cons

Venmo payments are currently only available for mobile transactions and only in the United States. It doesn’t offer international support or any way to transfer money outside the country. However, it doesn’t charge monthly or annual fees and has high weekly spending limits once the user confirms their identity.

Pros

  • No monthly or annual fees
  • Offers reward points
  • High spending limits once verified

Cons

  • Only available in the U.S.
  • No loyalty/gift card storage

What Customers Are Saying

Venmo users and merchants like its ease of use, low cost and quick processing. One customer said, “I’m able to take electronic payments via the app, have immediate access to that money and use the stored funds for payments or transfers it to my bank accounts.”

Summary

  • Starting Price
    • Sending money to people (credit card): 3%
    • Sending money to people (balance/debit card/bank): Free
  • Transaction Limit
    Person-to-Person Payments: $4,999.99/week
    Authorized Merchant Payments: $6,999.99*/week
    *per Transaction Limit: $2,999.99
  • Compatible Credit/Debit Cards
    American Express, Discover, MasterCard, Visa
  • Loyalty/Gift Card Storage
    No
Features
  • Compatible credit/debit cards: MasterCard, Visa, American Express, Discover
  • Fund transfer speed: 1 to 3 business days
  • Supported devices: Android, iPhone/iPad, Mac
Visa-direct
Visa Checkout
  • Compatible credit/debit cards: Visa, MasterCard, American Express, Discover
  • Fund transfer speed: Unknown
  • Supported devices: Not Provided
Visa Checkout transitioned to Visa Click to Pay in mid-2020. This free app allows users to save and access their credit cards for a quicker way to purchase items online. Visa Click to Pay supports all major credit cards, regardless of network, including Visa, Mastercard, American Express and Discover. Users can save cards in the app and then choose which to pay with. Visa Checkout will also link with Google Pay and Samsung Pay mobile wallets to use at select merchants.

Participating online vendors post a special Click to Pay icon. The app fills in all necessary fields, and the payment processes. The app eliminates the need to enter a 16-digit card number, expiration date and three-digit security code plus billing and shipping addresses. Businesses can add the Visa Click to Pay option to encourage shoppers to buy from their website.

Pros & Cons

Visa Checkout can be used with all four major credit card networks within the free app that makes checkout simple and fast. It also offers reward points and loyalty programs.

Pros

  • Free app
  • Reward points
  • Loyalty/gift card storage

Cons

  • Unknown fund transfer speed

What Customers Are Saying

No written reviews available.

Summary

Visa-direct
Visa Checkout
  • Starting Price
    • Free to use
    • standard CC fees apply when accepting as a payment method
  • Transaction Limit
    -
  • Compatible Credit/Debit Cards
    Visa, MasterCard, Discover
  • Loyalty/Gift Card Storage
    Yes
Features
  • Compatible credit/debit cards: Visa, MasterCard, American Express, Discover
  • Fund transfer speed: Unknown
  • Supported devices: Not Provided
Zelle
Zelle
  • Compatible credit/debit cards: Visa, Mastercard
  • Fund transfer speed: Within minutes
  • Supported devices: Android, iPhone/iPad
Zelle is a fast, contactless way to send and receive money person-to-person using a free mobile app. Many mobile banking apps already support Zelle, which makes it accessible directly through this app. If a bank doesn’t have it, you can download the Zelle app on iOS and Android devices. Users complete a transfer by entering the email address or phone number of the recipient and the amount to send and then confirming. Transferred funds may hit the recipient’s bank account within minutes. Bank accounts must be located within the United States. There’s a $500 weekly spend limit when the app user’s bank isn’t already a member of Zelle.

Small businesses can also get paid with Zelle. If a retailer’s bank or credit union currently offers Zelle for their business account type, they can accept Zelle payments; otherwise, there isn’t a business app for download. Financial institutions determine whether to apply fees for using Zelle.

Pros & Cons

Zelle works inside existing bank apps if the financial institution already supports the mobile payment solution. Otherwise, the app is free to download on Android and iOS devices. Zelle allows relatively high transfer amounts unless the user’s bank isn’t already a member. Zelle doesn’t offer reward points or loyalty programs.

Pros

  • Fund transfers within minutes
  • Works inside existing bank apps
  • High transfer limits

Cons

  • No reward points
  • No loyalty/gift card storage
  • Low transaction cap for non-member financial institutions

What Customers Are Saying

Users praise Zelle for its quick transfers and dependability. One user said, “Zelle is the easiest app to install and use and doesn’t steal your money … Zelle is integrated with my BMO accounts and works perfect.”

Summary

  • Starting Price
    • Free for consumers
    • financial institutions may charge a fee for small business
  • Transaction Limit
    Financial institution dependent
  • Compatible Credit/Debit Cards
    Visa, Mastercard
  • Loyalty/Gift Card Storage
    No
Features
  • Compatible credit/debit cards: Visa, Mastercard
  • Fund transfer speed: Within minutes
  • Supported devices: Android, iPhone/iPad

What Are Mobile Payment Services?

Mobile payments are electronically processed through a mobile device, usually a smartphone, tablet, or smartwatch. Consumers find mobile payments more convenient because they can use their mobile devices instead of carrying around cash or cards. Businesses wanting to accept mobile payments need a mobile card reader and/or the appropriate mobile app. There are several kinds of mobile payments.

  • NFC mobile payments are contactless payments made between mobile wallets saved on smartphones and NFC-enabled card readers that communicate payment instructions wirelessly when the devices come within two inches of each other.
  • Magnetic secure transmission payments are also contactless and work like NFC except they use a magnetic signal between a credit card and a card reader or POS.
  • QR (quick response) payments involve QR codes, which either belong to the consumer and are scanned by the retailer or vice versa to confirm and authorize a mobile payment.
  • SMS payments complete mobile payments via text messages with charges tacked on to the consumers’ monthly phone bills. Mobile bank transfers are more common for bill and peer-to-peer payments, don’t require a card reader or POS and work by directly transferring payments out of the consumer’s bank account and into the payee’s account.

Benefits of Mobile Payment Services

Mobile payments have become popular primarily due to convenience and security. People who prefer this payment method frequent retailers who cater to this preference, so it’s a great way to attract new customers. Additionally, mobile payments typically process much faster than swiped or inserted credit cards, so transactions are handled more efficiently.

For small businesses, mobile apps may offer them an opportunity to securely accept credit card payments, which might not have been an option previously due to expense. Mobile payments often have lower processing fees than swiped or keyed cards. Good mobile credit card readers usually cost under $100, and some companies provide equipment to new merchants.

What to Look for in a Mobile Payment Service

When comparing mobile payment services, look carefully at payment limitations. Providers with low per-transaction limits or that cap weekly or monthly sales can cost you sales. This is common with new merchant accounts, individuals with poor credit histories, and/or start-ups without a proven credit history. You can request an increase of these limitations, but if you fall into one of these categories, you’ll likely be denied.

To cater to as many customers as possible, choose mobile payment processors that support many different types of payment options and devices. It’s important to have all the major credit cards covered and devices with popular digital wallets, such as Google Pay, Apple Pay and Samsung Pay.

Small businesses especially need to compare fund transfer speeds, which can greatly affect cash flow. Transfer speeds determine how quickly the transactions you ran today hit your bank account. Most payment processors take one to five days to transfer funds, but three is average. Some companies make next-day deposits or transfer funds in a matter of hours or even minutes. If you need funds fast, compare the “instant” deposit processors. However, instant usually translates to higher priced, so weigh the pros and cons carefully.

Encouraging customers to repeatedly return to your establishment is important to your success. Choose mobile payment services with reward and loyalty programs that provide incentive to consumers to make mobile payments at your business.

The Cost of Mobile Payment Services

There are all sorts of costs involved in mobile payment services, especially for all-inclusive services that operate as both your merchant account and your payment processor. Always compare per-transaction fees, preferably looking for those with lower interchange plus pricing or flat-rate pricing.

The providers in our list ran between 2.5% and 4.4% per swipe, with some also having an extra 20 to 30 cents tacked onto each transaction. Also, per-transaction fees often vary based on the card network and payment method. For example, some processors charge a higher rate for American Express, and keyed card transactions are almost always higher than swiped transactions.

Beware of other “hidden” fees. Some companies charge a gateway fee, and other companies require a monthly subscription for systems that house their payment processing app. Also, make sure there aren’t separate fees for PCI compliance, fraud protection, or other must-have security features. On the flip side, some mobile payment apps are free of charge, but that doesn’t mean there isn’t a fee involved. Depending on how it’s set up, you may still need a merchant and/or payment processor, and these providers will charge you for their services.