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The Top 6 Merchant Services: Square Flagship Merchant Services Helcim Payment Depot Fattmerchant Stripe. There are two primary types of accounts, one is an aggregator (or middleman), and one is an ISO (or independent sales organization). For in-person sales, expect to pay 2.6% Helcim – The Best For Small Business.
Depending on the business type, merchant processing solutions are of two types: Point-of-sale (POS) systems POS systems are a popular payment collection system, with more than 93,300 companies using them in the US alone. HelcimHelcim is a low-cost payment processor dedicated to small and medium businesses.
Terminal or equipment fees – Small businesses often lease or purchase payment processing equipment, such as point-of-sale (POS) systems or credit card terminals. Some popular processors offering interchange plus pricing structures include Payment Depot, Stripe, and Helcim. These fees can also vary based on transaction type.
The merchant’s point-of-sale (POS) system sends an authorization request to the acquiring bank (also known as the merchant bank) via a payment gateway. The processing type factors in whether it’s a card-present transaction (taken at a point of sale system) or a card-not-present transaction. These can add up.
Need to send invoices or only take payments at a point-of-sale? Ensure that the processor you choose can work seamlessly with your existing point-of-sale (POS) system, eCommerce platform, or accounting software. During the sales process, engage with the support team to assess their responsiveness and knowledge.
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