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Payment Processor- Pricing clarity
- 1.0
- Feature set
- 5.0
- Ease of use
- 3.0
★ 4.6 trustpilotRead review →
Payment Processor Reviews
In-depth reviews and analysis of payment processing companies. Our comprehensive reviews cover pricing, customer service, features, and real user experiences to help you make informed decisions.
8 reviews
C+
Bank of America Merchant Services
Payment ProcessorBank of America Merchant Services is a large, bank-integrated payment processing solution ideal for existing BofA business checking customers who value brand stability, seamless funding, and broad payment acceptance though it lags behind fintech competitors on pricing transparency, modern integrations, and third-party review scores.
Online rate
2.99% + .30
Payout
Next-day funding is available to all merchants (since all merchants must have a Bank of America checking account)
★ 1.14 bbbRead review →
Wells Fargo Merchant Services
Payment ProcessorWells Fargo Merchant Services is a division of one of the largest U.S. banks, offering credit and debit card processing, Clover POS systems, and e-commerce solutions to small and medium-sized businesses.
Online rate
3.50% + $0.15
Payout
1 - 3 business days
★ 1.09 bbbRead review →
Elavon
Payment ProcessorElavon is one of the world's largest payment processors, serving over 2 million merchant locations across 36 countries offering a comprehensive suite of enterprise payment solutions, but widely criticized by small and mid-size merchants.
Online rate
Not publicly disclosed; quote-based
Payout
Typically 1–2 business days; expedited funding options available including same-day and weekend/holiday funding
★ 1.18 bbbRead review →
Global Payments
Payment ProcessorGlobal Payments Inc. is a Fortune 500 payments technology behemoth, processing trillions of dollars annually across 38 countries, offering massive scale and enterprise capabilities, but consistently criticized by small and mid-size merchants for opaque pricing, hidden fees, rigid contracts, poor customer support, and a significant history of legal actions.
Payout
Typically next business day; varies by contract
★ 1.02 bbbRead review →
Payment Depot
Payment ProcessorPayment Depot, now operating as "Payment Depot by Stax," is a California-based merchant services provider founded in 2013 that pioneered the subscription/interchange-plus pricing model for small businesses, but has experienced significant customer service and transparency issues since its 2021 acquisition by Stax.
Online rate
0.2% – 1.95% above interchange
Payout
Next-day funding
★ 1 bbbRead review →
High Risk Pay
Payment ProcessorHigh Risk Pay is a merchant account provider specializing in high-risk merchant services and payment processing solutions including credit card and ACH acceptance for businesses that struggle with traditional payment processors.
Online rate
Starting around 2.19% + $0.25 for good-credit merchant accounts
★ 4.7 trustpilotRead review →
Paysafe
Payment ProcessorPaysafe is a global payments technology platform that provides merchants and consumers with payment processing, digital wallet services, alternative payment methods, and secure transaction infrastructure.
Online rate
Reviews mention a range from 1.00% - 4.99%
★ 1.02 bbbRead review →
The Importance of Payment Processor Reviews
Choosing the right payment processor is one of the most important decisions for any business, whether you're a startup, an established retailer, or an online ecommerce brand. A payment processor determines how you accept payments, manage cash flow, and keep costs like processing fees, interchange fees, and card processing fees under control. That's why payment processor reviews and merchant processor reviews are valuable resources for comparing companies like PayKings, Zen Payments, Stax, Helcim, National Processing, Heartland Payments, Global Payments, Shift4, and Chase Payment Solutions.
Key Features to Evaluate in Merchant Services
As you're looking through reviews and comparing providers, don't only look at the price or percentage per transaction. Consider these factors as well:
- Merchant account setup – How easy is it to open a merchant account and link a bank account?
- POS and virtual terminal support – Do they offer modern point of sale (POS) systems, mobile payment options, or a virtual terminal for remote credit card processing?
- Payment card compatibility – Look for support for credit cards, debit cards, Apple Pay, Google Pay, Google Wallet, Mastercard, and even QR code payments (if you're looking to give your clientele more options).
- Accounting and finance tools – Many processors integrate with accounting software like Xero, Intuit, QuickBooks, or Salesforce for smoother bookkeeping, payroll, and tax management.
- Data security – Strong encryption, tokenization, and authentication ensure compliance with the Payment Card Industry Data Security Standard (PCI DSS).
Keep in Mind the Customer Experience and Usability of Payment Processors
Beyond functionality, the usability and interface of the system matters. Smooth shopping cart integration, compatibility with iOS and web browsers, and additional features like inventory management, printer support, and barcode scanning all improve workflow. Be sure to look for reviews that highlight whether these features are included with a specific payment processor and how well they work. Reliable customer support that quickly responds is critical when it comes to payment processing. Be sure to choose a payment processor with a solid reputation with good feedback about their customer support.