The best payment processing company depends on how you sell. A coffee shop taking tapped cards all day, an online store with $25 orders and a SaaS firm billing monthly are all different problems, and the cheapest headline rate rarely tells you which one a provider solves.
This guide compares six well-known payment processing companies (Stripe, Square, PayPal, Clover, Helcim and Adyen) using published pricing, and shows how to match a provider to your business. For the wider market, see TheFinRate's payment providers directory.
Quick answer
- Online store or software business: Stripe and Square both publish 2.9% + $0.30 for US online card payments.
- Mostly in-person sales: Clover lists 2.3% to 2.6% + 10 cents for card-present payments, depending on plan, but 3.5% + 10 cents for keyed and online payments.
- Wallet recognition at checkout: PayPal lists cards from 2.89% + $0.29 and PayPal payments at 3.49% + $0.49.
- Growing volume and transparent costs: Helcim uses interchange-plus pricing with no monthly fee and automatic volume discounts.
- Large or multi-region merchants: Adyen charges a fixed fee plus a payment-method fee, with cards on Interchange++.
Rates change and vary by plan, so confirm on each provider's pricing page.
Payment processor, gateway or merchant account?
Three roles are often mixed up:
- Payment processor. Moves the transaction between your customer's bank and your bank through the card networks.
- Payment gateway. The technology that securely passes payment details from your checkout or terminal to the processor.
- Merchant account. The account that receives the money before it is paid out to your bank.
Many companies, such as Stripe, Square and PayPal, bundle all three, which is why they are called payment service providers. Others split them. For more detail, read TheFinRate's guide to merchant account providers.
How we compared payment processing companies
Each company was checked against the same criteria, using its own published pricing where available:
- Pricing model (flat rate, interchange-plus or by plan)
- Online card rate and fixed fee
- In-person card rate, where published
- Monthly or plan fees
- Best-known fit by business type
This is a framework, not a ranking. We did not use review scores or uptime claims, because they could not be verified from neutral sources.
Best payment processing companies compared
Insert the comparison table from Section D here.
What the headline rate hides
Online versus in-person pricing
Many companies charge differently for card-present and card-not-present payments. Clover is the clearest example: its card-present rates run 2.3% to 2.6% + 10 cents by plan, while keyed and online payments are 3.5% + 10 cents.
On a $100 sale | Cost | Effective rate |
|---|---|---|
Stripe or Square, online (2.9% + $0.30) | $3.20 | 3.2% |
PayPal card (2.89% + $0.29) | $3.18 | 3.2% |
PayPal checkout (3.49% + $0.49) | $3.98 | 4.0% |
Clover, in person (2.3% + $0.10) | $2.40 | 2.4% |
Clover, in person (2.6% + $0.10) | $2.70 | 2.7% |
Clover, keyed or online (3.5% + $0.10) | $3.60 | 3.6% |
If you sell mostly in person, in-person rates matter most. If you sell mostly online, compare online rates and the fixed fee.
Plan, software and hardware fees
Some processors bundle a monthly software plan and hardware. Published reviews list Clover plans from about $0 to over $100 per month depending on business type and hardware, so a lower per-transaction rate can be offset by a higher monthly cost. Add monthly fees to the per-transaction cost at your real volume.
Flat rate versus interchange-plus
Flat rate is easy to forecast. Interchange-plus passes through the card issuer's interchange fee and adds the provider's margin, so the cost varies by card. Helcim describes its model this way with automatic volume discounts, and Adyen lists Interchange++ plus 0.60% for Visa and Mastercard cards. Interchange-plus often costs less at higher volume but is harder to predict.
Other costs
Instant payout fees (Clover lists a 1.75% Rapid Deposit fee, according to one review), chargeback fees, currency conversion and hardware are not in the headline rate. Ask for the full fee schedule in writing.
Provider notes
Stripe
Stripe publishes 2.9% + $0.30 for US online card payments with no monthly fee on its standard pricing, and it is built around APIs for custom checkouts, subscriptions and platforms. The trade-off is the fixed fee on small orders and add-on product costs.
Square
Square lists 2.9% + 30 cents for online store, eCommerce API and online invoice payments in the US. It combines online and in-person sales with its own hardware, so it suits sellers who want one account for both. In-person rates are published separately and vary by plan, so confirm them.
PayPal
PayPal's business fee page lists card processing from 2.89% + $0.29 and PayPal and Venmo payments at 3.49% + $0.49, with Pay Later at 4.99% + $0.49 in the US. The PayPal button is recognised by many shoppers. Its pages list more than one card rate, so confirm which product you are on. Source:
Clover
Clover, sold by Fiserv, is a POS-led provider that bundles hardware and software plans with processing. Published reviews list card-present rates of 2.3% to 2.6% + 10 cents depending on plan and 3.5% + 10 cents for keyed and online payments. It suits restaurants, retailers and service businesses that mostly sell in person. Online-heavy merchants should compare the 3.5% rate with alternatives.
Helcim
Helcim offers interchange-plus pricing in the US and Canada with no monthly fee. Reviews list a starting online rate of interchange plus 0.5% + $0.25 and in-person interchange plus 0.4% + $0.08, with automatic discounts once monthly volume passes about $50,000. It suits businesses that want transparent costs and growing volume.
Adyen
Adyen charges a fixed processing fee plus a payment-method fee per transaction, with Visa and Mastercard on Interchange++ plus 0.60%, and describes its listed figures as indicative. It suits larger merchants with volume to negotiate and operations in several regions.
How to choose a payment processing company
- Split your sales by channel. Note the share in person, online and keyed in.
- Write down average order value and monthly volume. They decide whether fixed fees, monthly fees or percentages matter most.
- Choose a pricing model. Flat rate for simplicity, interchange-plus when volume grows.
- Add monthly, hardware and add-on costs. Compare total monthly cost, not only the rate.
- Check payouts and holds. Payout timing and reserve rules affect cash flow.
- Confirm your industry is accepted. Some categories are restricted or treated as higher risk.
- Check integrations. Your store platform, accounting software and POS.
- Request the fee schedule in writing and model three months of sales.
Common mistakes
- Comparing percentages and ignoring fixed, monthly and hardware fees.
- Using in-person rates to judge an online business, or the reverse.
- Assuming flat rate is always cheapest.
- Not checking payout fees and holds.
- Relying on a single provider with no backup.
Comparison table and checklist
Comparison table (insert under "Best payment processing companies compared")
Provider | Pricing model | Published rates (US) | Monthly or plan fees | Often suits |
|---|---|---|---|---|
Stripe | Flat rate | Online cards 2.9% + $0.30 | None on standard pricing | Online businesses, SaaS, platforms |
Square | Flat rate | Online 2.9% + $0.30; in-person rates published separately | Plans vary | Merchants selling online and in person |
PayPal | Flat rate by product | Cards from 2.89% + $0.29; PayPal and Venmo 3.49% + $0.49 | None reported | Merchants wanting a wallet option |
Clover | Flat rate by plan | In person 2.3% to 2.6% + $0.10; keyed and online 3.5% + $0.10 (reviews) | From about $0 to over $100 depending on plan and hardware (reviews) | Restaurants, retailers, service businesses |
Helcim | Interchange-plus | Online interchange + 0.5% + $0.25; in person interchange + 0.4% + $0.08 (reviews) | $0 | SMBs with growing volume |
Adyen | Interchange++ | Fixed fee + method fee; cards at Interchange++ + 0.60% (indicative) | Not confirmed | Larger, multi-region merchants |
Rates were taken from provider pages and published reviews in October 2026 and change often. Confirm before publishing and before buying.
FAQs
- What is the cheapest payment processing company?
It depends on your sales channel, order size and volume. Flat rates suit low volume, interchange-plus often costs less as volume grows, and in-person and online rates differ.
- What is the difference between a payment processor and a payment gateway?
The gateway passes payment details securely from your checkout or terminal. The processor handles the transaction with the banks and card networks. Many companies bundle both.
- Do I need a separate merchant account?
Often not. Bundled providers include one, while others require you to bring your own.
- Which payment processor is best for a small business?
Small businesses often start with a no-contract provider such as Stripe, Square, Helcim or Clover and compare total monthly cost at their own volume.
- Can I switch payment processors later?
Yes, but check contract terms, termination fees and how to migrate saved customer payment data first.
Verdict
Stripe and Square look similar on US online card pricing, PayPal adds a recognised wallet at a higher cost, Clover is built around in-person sales, Helcim suits businesses that want interchange-plus with automatic discounts, and Adyen fits larger multi-region operations. Start from your channels, order size and volume, then confirm total cost in writing.
Ready to compare further? Explore TheFinRate's payment gateway providers and request each shortlisted company's full fee schedule.
