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There is no single best payment processor for every business. The right fit depends on where you sell, how customers pay, your ecommerce platform, and your mix of online, in-person, keyed, international, and recurring transactions. The exact five providers intended by the 2024 title cannot be established from available sources, so this is a current, source-grounded comparison—not a reconstruction of a 2024 ranking. Provider examples and fees below are dated to the sources cited.
How to compare payment processors
Start with total cost for your own payment mix, not the headline card rate. Online, in-person, manually keyed, international, ACH, and wallet transactions may be priced differently. Add monthly software charges, gateway or merchant-account costs, hardware, and any platform-specific fees.
Also compare the operating fit: supported payment methods in your country, checkout and POS features, recurring billing, invoicing, integration effort, settlement, dispute handling, security, and customer support. A gateway transmits encrypted payment information to a processor, which communicates with card networks and the issuing bank; authorization and settlement follow. Providers often bundle these functions, so product labels such as “gateway,” “processor,” and “POS” do not always describe the same scope.
Bundled service or standalone provider?
IDC’s 2024 assessment describes payment facilitators as bundling processing through payment partners for submerchants, with one acquirer relationship serving a group of merchants. Shopify Pay, PayPal, Square, and Stripe are examples in the report. A bundled service can reduce setup complexity; a standalone service can offer more flexibility in choosing providers. That convenience-versus-control trade-off is worth weighing alongside price. IDC MarketScape: Worldwide Retail Online Payment Platform Software Providers 2024 Vendor Assessment.
#1 Best Overall
- With Square Terminal, you can ring up sales, accept payments, and print receipts, all with one device. Use it at the counter or ring up customers anywhere in your store.
- Accept all major credit and debit cards and pay one low rate with no hidden fees and no long-term contracts.
- Process chip cards in just two seconds.
- Get your money as soon as the next business day.
- Use it cordlessly with the built-in battery, designed to last all day.
Provider options by business need
The following providers are a practical comparison set, not a claim about which five appeared in the original 2024 ranking. Shopify’s comparison, updated September 15, 2025, identifies these use cases and publishes example fees. Actual availability, terms, and fees vary by country, plan, payment method, and contract.
| Provider | Potential fit | What to check |
|---|---|---|
| Shopify Payments | Businesses already selling through Shopify; integrated online and in-person payments. | Plan-dependent online and in-person rates, supported markets and payment methods, and whether using an outside provider triggers a third-party transaction fee for your location and plan. |
| Stripe | Subscription businesses and merchants wanting customizable online checkout or integrations. | Recurring billing needs, developer effort, online versus in-person pricing, and keyed or international surcharges. |
| PayPal | Merchants who want PayPal-branded checkout and familiar wallet options. | Checkout versus card transaction pricing, international mix, customer preference, and whether its in-person POS meets your needs. |
| Square | Service businesses and in-person operations that value POS workflows and hardware options. | Online versus in-person fees, device needs, monthly plan or location costs, and retail or restaurant features. |
| Adyen | Businesses selling internationally, as described in Shopify’s comparison. | Geographic coverage, local payment methods, its pricing model, and suitability for your scale and onboarding needs. |
| Authorize.net | Merchants considering a gateway option associated with advanced security in Shopify’s comparison. | Gateway-only versus merchant-account costs, integration, and security requirements. |
| Clover | Businesses with restaurant workflows, as described in Shopify’s comparison. | Hardware, software subscription, processor contract, and total cost. |
Shopify’s published US examples on that page include online rates from 2.4% to 2.9% plus 30 cents for Shopify Payments depending on plan; Stripe at 2.9% plus 30 cents online and 2.7% plus 5 cents in person; PayPal at 3.49% plus a fixed fee for Checkout and 2.99% plus a fixed fee for card transactions; Square at 2.9% plus 30 cents online; Adyen at a 13-cent base processing fee plus variable fees; Authorize.net at $25 per month and, with a merchant account, 2.9% plus 30 cents; and Clover at $16 per month. These are examples from Shopify’s comparison, not a verified 2024 schedule or a quote for every merchant. See Shopify’s provider comparison and confirm current terms directly before deciding.
Rank #2
- With Square Handheld, you can accept payments, take tableside orders, or scan barcodes anywhere. With a slim design and comfortable grip, the POS is easy to carry in your palm or pocket. Square Handheld is designed to withstand water splashes and dust. Add an optional protective case for accidental drops. A long-lasting battery and offline payments let you keep selling.
- Slim, pocketable, and lightweight so you can accept payments wherever your customers are.
- Take tableside orders, bust lines, or use the built-in barcode scanner, all with one sleek device.
- A battery that can power through your shift and offline payments let you keep selling, even if your internet is down.
- Accept all major credit and debit cards and pay one simple rate with no hidden fees and no long-term contracts required.
Shopify sellers: check the cost of using an outside provider
Shopify Payments is integrated into the platform. If you use another payment provider, Shopify may apply a third-party transaction fee depending on your plan and location. Include that fee in the cost model rather than comparing only the outside processor’s rate. Verify the fee and supported payment methods for your specific market and plan.
Square and Stripe: compare the payment flow you actually use
For current US examples, Square’s official comparison lists online rates of 2.9% plus 30 cents for Square and Stripe, and in-person rates of 2.6% plus 15 cents for Square and 2.7% plus 5 cents for Stripe. These are volatile published examples, accessed October 8, 2026; they are not universal prices or a promise of savings. Your payment method, account terms, and transaction type can change the cost. Square’s Square-versus-Stripe comparison.
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Rank #3
- Use the, easy-to-use, and customizable POS to get started.
- Accept contactless payments, chip cards, Apple Pay, and Google Pay from anywhere, with improved connectivity, extended battery life, and enhanced security. Pay one low rate for every tap or dip.
- No long-term commitments or contracts, no monthly fees- and with offline payments, keep taking payments for up to 24 hours.
- Safely and securely accepts payments anywhere. Plus, get data security, 24/7 fraud prevention, and payment-dispute management at no extra cost.
- Use the, easy-to-use, and customizable POS to get started.
Square Free has no monthly subscription cost, according to Square’s US pricing page, and charges processing fees when a payment is taken. The same page lists Square hardware options starting at $59, a current US starting price accessed October 8, 2026. Hardware is not required for every flow: Square describes invoices, payment links, a virtual terminal, and Tap to Pay as ways to accept payments without buying a reader. A reader is useful when you want customers to tap or insert a card in person. Check device availability and compatibility before buying. Square’s US pricing page.
Choose based on how you sell
Online store
Prioritize a reliable integration with your ecommerce platform, supported local payment methods, and the complete cost after platform fees. For a Shopify store, calculate the impact of any third-party provider fee before choosing an outside processor.
Rank #4
- Our team provides expert guidance, onboarding assistance, and payment processing consultation to help businesses deploy Square solutions effectively.
- Complete Business Payment Solution - Accept EMV chip cards, contactless payments, NFC wallets, and traditional credit and debit card transactions. Square Terminal combines payment acceptance, receipt printing, and business management tools in a compact all-in-one device.
- Expert POS Deployment Support - Unlike standard online purchases, SwyftPAY provides hands-on onboarding assistance from payment industry professionals with over 50 years of experience serving retail, restaurant, mobile, and service-based businesses.
- Designed for Growing Businesses - Ideal for retail stores, restaurants, food trucks, service contractors, salons, medical offices, professional services firms, and other businesses seeking a modern payment acceptance solution.
- Equipment ships after signup with Square, through SwyftPAY
Subscriptions or custom checkout
Compare recurring billing tools, integration options, and the technical work required to maintain checkout. A flexible API is useful only if you have the capacity to implement and support it.
Retail, restaurants, and services
Compare POS workflows, inventory, staff access, terminals, receipt and refund handling, and hardware costs. A slightly different processing rate may matter less than whether the system supports the way your staff takes orders and completes sales.
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- Accept all major credit and debit cards and pay one low rate
- No hidden fees and no long-term contracts
- Mobile card reader that accepts payments anywhere & anytime
- Use the free SumUp App on your smartphone or tablet to start accepting transactions
- Simply pay 2.6% +10 per in-person transaction
In-person payments without a reader
You do not necessarily need to buy a card reader to begin accepting payments: invoices, links, virtual terminals, and supported Tap to Pay options can cover some flows. If customers pay face to face with chip or contactless cards, compare the cost and compatibility of a supported reader or terminal.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Calculate the real cost before signing up
- Estimate transaction volume by type. Separate online, in-person, keyed, international, ACH, wallet, and recurring payments.
- Apply the provider’s rate for each type. Use the provider’s current terms for your geography and plan, including fixed per-transaction fees.
- Add recurring and one-time costs. Include monthly software, gateway or merchant-account fees, hardware, and any ecommerce-platform transaction charge.
- Check contract and operational terms. Review settlement timing, dispute handling, security requirements, service availability, support, and cancellation terms.
- Compare the same scenario across providers. Do not compare one provider’s online card rate with another’s in-person rate or omit fees that apply only to your setup.
For an additional feature cross-check, NerdWallet notes Stripe’s support for more than 135 currencies, PayPal’s branded payments, Venmo, and buy-now-pay-later options, and Square’s retail- and restaurant-specific features. Treat secondary-source pricing as a cross-check, not a substitute for an applicable provider quote. NerdWallet’s Stripe, PayPal, and Square comparison.
What the 2024 ranking does—and does not—establish
A September 17, 2024 Better Business Advice ranking announcement names Stax Pay, Payment Depot, and CardX as its top three and describes pricing transparency, ease of use, and feature range as evaluation dimensions. It does not establish the full five-provider list from the title, nor does it make that ranking an industry-wide consensus. The available sources also do not establish a comparable historical fee schedule for the providers above. Current prices should not be read as 2024 prices. Better Business Advice’s September 2024 ranking announcement.
Quick Recap
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
