Top 6 Payment Service Providers

Choosing an online payment service provider can be a difficult process. There is an increasing number of them and you should take a lot of different factors into consideration to find the one that suits your business needs. Every business needs to think about the reputation of the providers they choose, as well as the fees it takes. But it doesn’t stop there – it’s also important to think about the provider from customer point of view (this means how is it to use and does it require third party account or it can be used directly from the company site).

Here’s a list of few that you should check out, having all of these conditions in mind.


Stripe is easy to use on both ends – it’s easily set up by the business and has a clean and intuitive interface for the consumer. It’s also comes in a form of mobile app for both iOS and Android phones. Stripe can be used in more than 100 countries and it accepts a variety of credit cards. Recurring payments are easy to set up and they make the customers coming back. Naturally, security and privacy are the biggest concern when it comes to online payments and Stripe handles this so the businesses don’t have to.


Square has a simple pitch – it has absolutely no monthly fees and no equipment fees – you pay based on your profits only. Fees are flat and predictable (meaning that they don’t change as your profits get bigger) and they only start after 1000$. There are other advanced features as well – you can connect the app with your inventory and get alerts when you run out of certain items. And then you can easily order them seamlessly without leaving the app.



PromisePay is a payment service provider dedicated to the holistic approach to online commerce. It manages the transaction from start to finish, dealing with the fraud detection and dispute resolution on its own. PromisePay can be used for instant transactions, escrow payments and for dealing with invoicing. This is especially useful in industries in which customers second guess and change their decisions often – such as real estate market or auto sales.


Dwolla tries the opposite approach from the one we discussed earlier – it has a fixed monthly fee and the level of services (or their cost) doesn’t change based on the number of customer you service or the profits you generate. It’s also integrated with all the social media, so you can send payments using LinkedIn, Facebook, Twitter, e-mail or phone. Dwolla easily integrates with your bank account and allows automated repeat payments.

Payline Data

Payline data is focused on small business and that’s why it’s very flexible with its fees. It allows you to enter in monthly contracts, which is great for small and starting business with uncertain prospects. It allows you to choose between merchant and high-risk merchant account. Both of these options transfer your funds (coming from both POS terminals and online payments) to a single place. The advantage of high-risk account is that it accepts contracts from those with bad credit, who would get rejected by other banks.


Authorize.Net is one of the oldest payment service providers (it’s been around since 1996) and there is a reason why it has stuck around for so long. Its fees are fixed but it provides a range of other options that are charged separately. Most of these options are concerned with providing merchants with a lot of information about their customers, which allows them to easily create data bases of loyal customers eligible for sales and other promotions.

Remember to choose your payment provider wisely. Base your decision on both the current and possible future needs of your business.

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