There are over four million credit card accounts in the United States alone.

However, if your business doesn’t have a way to process this type of payment, this will translate into lost money and customers.

Finding the cheapest credit card processing services is the best way to bring in these customers without spending more on the transactions than you’re earning.

We’ve gathered six of the best credit card processing options for small businesses. Keep reading to find out more about each one.

1. Online Credit Card Processors 

The first option we’re going to cover is online credit card processing. There are many options for online transactions. Let’s quickly look at a few of the advantages and disadvantages of using this option.


  • No hidden fees 
  • Can connect with other apps and platforms 
  • Accepts most credit cards


  • Requires signing up for an account
  • Can be difficult to set up
  • May require an annual plan

A few examples of online credit card processors are Paypal, Stripe, and Payline.

These online platforms will allow your business to grow in the online market by providing to your business the option of receiving online payments. They offer a flat rate per transaction that ranges between 0.30 to 2.9 percent.

2. Specialized Software

The second option on our list is specialized software. An efficient credit card software will provide to your business a lot of benefits. However, you need to look for the one the best fit your wants and needs.

Before we discuss this further, let’s take a look at some of the benefits and drawbacks.


  • Personalized to meet your business needs
  • Can accept payments over the phone
  • Fast payment processing


  • Monthly costs
  • Cancelation fees
  • May require a trust connection 

Some examples of specialized software are 2checkout and WorldPay. These two online softwares are easy to download and install. They both offer two price rates to fit with your budget.

There’s also the option of hiring a software development service. They will customize the ideal software for you. By including all of the features that your business needs, the payment process is faster and easier for your customers. 

3. Mobile Payments

We’re living in a technological era. Nearly everybody has a smartphone so it’s important for your business to keep up with this new trend.

Mobile payments provide an easy and comfortable payment option for your customers. By downloading an app onto their smartphone, your customers can then make direct payments. 

Some pros and cons when using mobile payments are listed below.


  • Easy to download
  • Customizable loyalty programs
  • Personalized customer service


  • Requires registration 
  • It may only work with certain brands of smartphones 
  • Payments may go directly to the app instead of your bank account

Some of the cheapest options for mobile payments are Square, NCR Silver, and Gopago. The average range for transaction fees is 2.7 to 2.85 percent.

These apps also have some cool extra features that help you provide a more personalized customer service experience by keeping track of your customer’s needs and wants.

4. All-Purpose Credit Card Processing

Most credit card processing providers we’ve mentioned so far charge transaction fees for every purchase along with a set transaction fee. While this helps you save money under a certain amount, it will cost more as your business grows.

All-purpose credit card processors, on the other hand, offer the same services as others but typically have additional features. Plus, they charge a steady monthly rate so you pay the same no matter how much you’re making.


  • One monthly fee
  • More cost-effective with numerous transactions
  • Comes with extra features.


  • May have additional annual fees
  • Initial hardware can be expensive
  • Chargebacks are harder to deal with

A great example of an all-purpose credit card processor is Payment Depot. They combine all of your monthly fees into a single monthly subscription.

5. Nonprofit Credit Card Processing 

Nonprofit credit card processors are great for small businesses or nonprofit organizations because they offer lower transaction fees. 

They’re also an awesome option for businesses looking to help charities by donating money.


  • Discounted pricing for nonprofit organizations
  • No annual fees
  • Month-to-month billing


  • Not recommended for businesses processing less than $10,000 a month 
  • Occasional funding holds
  • May have equipment compatibility issues 

The best example of a nonprofit credit card processing company is Dharma Merchant Services. They provide their services based on strong values, transparency, and honesty.

6. High-Risk Solutions 

A business is considered high risk by several factors such as having no credit or poor credit, or businesses involved in certain industries.

Some industries that are considered high risk include:

  • Tourism
  • Travel
  • Hospitality
  • Health and wellness
  • Software and legal services
  • Financial services

Credit card processing providers are responsible for all the transactions going through your business. So, they prefer to avoid working with businesses that have a higher chance of receiving fraudulent payments.

This can make it especially difficult for small businesses in these industries to find a company that will process credit cards for them at an affordable rate.

A great option for small businesses in high-risk industries is High-Risk Solutions. We provide a wide variety of credit card processing services for businesses in every industry, from online entertainment websites to retail shops.

Whether you’re interested in opening your first business or looking for the best credit card processing services with the cheapest fees to your small business, High-Risk Solution can help.

Want to Learn More About the Cheapest Credit Cards Processing?

Now you have six of the cheapest credit card processing options for small businesses. By choosing one of these, you can save money and earn more.

As you can see, there are many options for businesses so you can find the one that’s best for you. If your options are limited based on the industry you’re in, you can look for a high-risk credit card processor, like us.

If you want to learn more about how to grow your business be sure to check out our blog. We had a lot of information specifically for small business, including one on why you should accept credit cards.

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