Today’s post comes from Webs’ Lead Analyst, Alex Mitchell.
In today’s tech-enabled world, there are hundreds of startups and established companies trying to simplify the way businesses collect money Online and Offline from customers.
In the blog, we’ve talked about specific Online payment solutions and tools for business owners with something to sell, but we believe it’s time for a definitive top 5 list of the best Online and Offline payment solutions.
Before we dive in, it’s worth noting that solutions on this list may be better or worse options for your particular business based on your product, sales volume, or number of employees/locations.
Top 5 eCommerce (Online) Payment Solutions
Fee: 2.9% + $.30/txn
– Most widely used payment processor (over $100B in transactions annually
– Ensure that your customers will be comfortable as possible with paying on your site
Fee: Free under $10 or $.25/txn over $10
– Most widely used payment processor (over $100B in transactions annually)
– Easy to add a checkout gateway to your website or a “Pay with Dwolla” Button
Fee: $20/month + $.10/transaction
– Great option for medium to large e-Commerce sites
– Includes Fraud Prevention, Subscription Billing, and e-Check processing features
5. Intuit Payments
Fee: $0/month + 2.4% + $.25/txn Or $20/month + 1.75% + $.25/txn
– If you’re already a fan of Quickbooks or Mint, you may want to consider Intuit’s payment processor which links easily with these tools
– Intuit also offers 100 small business apps that can be easily plugged into payments
Top 5 Offline/Mobile Payment Solutions
- Once a newcomer to the payments space, Square is now the leader in “offline” payment
– A simple user interface that is compatible with almost all smartphones and tablets make Square our favorite
– Great option for medium to large and primarily Offline businesses
– An easy way to create and customize a Point of Sale (POS) for your business
What Payment Solution is Right for Me/My Business?
As I mentioned at the beginning of the article, your product, sales volume, number of employees, or number of locations will help you identify what Online and/or Offline payment solution is right for your business.
How do you collect Online and Offline payments from your customers? Please share any services that we may have missed!