10 Best Payment Processing Software In 2023

QuickBooks Online is a cloud-based accounting software that helps small and medium-sized businesses manage their finances, track expenses, and process payments. It offers a range of features to help streamline financial management, including invoicing, expense tracking, and reporting. The platform is hosted in the cloud, so you can access it from anywhere.

The software tracks transaction details to help you spot errors and keep clean, accurate records. You can also connect your bank feeds to eliminate the need for manual data entry. It calculates sales tax automatically and allows you to charge clients and customers via invoice.

The invoicing capabilities allow you to create professional, customizable invoices that can be sent via email or printed and mailed. You can also set up recurring invoices for regular clients, making it easy to stay on top of billing. The software also has an expense tracking feature that lets you categorize and track your business expenses. This saves you time come tax season, and helps you keep clean and up-to-date financial records for your business.

QuickBooks Online integrates with over 450 business apps like Square, Stripe, Insightly CRM, Mailchimp, Shopify, eBay, BigCommerce, Magento, Squarespace, and Etsy. Pricing starts from $30 per month, and a 30-day free trial is available.

Hopscotch is a free digital payment solution helping small businesses and freelancers pay and get paid. With Hopscotch, you can easily generate and send invoices, collect payments from clients, pay bills, and manage your cash flow. The all-in-one platform simplifies accounting workflows and offers fee-free payment options. Notably, vendors, contractors, and suppliers can receive payments without needing to create an account.

With Hopscotch, you have the ability to create and dispatch invoices. The platform enables you to incorporate essential details such as dates, payment terms, items, pricing, and tax information directly onto the invoice form. To expedite the process, Hopscotch provides basic invoice templates and allows businesses to add their own branding details such as colors, logos, and icons. Once generated, invoices can be shared via a link or email, and your client may submit payment using a bank transfer or a credit card without having to create an account. You can track the status of invoices, and stay updated on approaching due dates or overdue payments.

One standout feature is Hopscotch Flow. This service allows you to unlock revenue from unpaid invoices on-demand. Unlike a traditional business loan, Hopscotch Flow doesn’t impact your credit score. It’s also completely private, so your clients won’t be notified if you choose to get paid early. This feature can be especially useful for small businesses and freelancers who may have to cover upfront costs for projects. This product offers a layer of protection when it comes to weathering unexpected costs or gaps in cash flow. 

Integrations include QuickBooks, Gmail, Outlook, AOL, and 1000+ banks.

Hopscotch is free to use and has premium plans launching soon.

Chargebee is a subscription management platform that lets you automate subscription box billing and management, streamline order management, provide add-ons and gift subscriptions, and derive insights with detailed analytics.

Ecommerce managers can empower freedom of choice through customer self-serve portals. You can offer personalized options like customizable shipping and billing frequency for subscribe-and-save as well as box and membership subscriptions. You can easily add to your product line, and increase customer loyalty and lifetime value by intelligently bundling subscriptions with add-ons, accepting localized payments, offering promotions, gift subscriptions, resend/refund options, and more.

Chargebee integrates with tools for ERP, sales, finance, ecommerce, reporting analytics, marketing, collaboration, and customer support and success.

Chargebee costs from $249/month for 10 users and offers a free plan for up to 3 users. Chargebee also offers a free trial.

FreshBooks is an online payment processing system that helps businesses simplify invoicing customers, tracking payments, and managing expenses. It integrates with other popular tools, such as QuickBooks and Xero, to make it easy to sync data across multiple platforms. It offers a range of customizable invoice templates that make it easy to create professional-looking invoices and allows users to set up recurring invoices so that customers can be automatically billed on a regular basis. FreshBooks helps businesses manage expenses by allowing them to quickly enter bills and attach digital copies of supporting documents like receipts and invoices. This makes it easier to keep track of spending and ensure that everything is accounted for come tax time.

FreshBooks has built-in reminders that let users know when an invoice is past due, or a customer hasn’t paid yet. It provides insights into customer behavior, so users can better understand their spending habits. FreshBooks allows users to accept payments through their invoices via major credit cards or PayPal accounts. This makes it much easier for customers to pay quickly without waiting for a check in the mail or setting up additional bank transfers. The platform also offers automatic deposits so that any payments processed through their invoices are deposited directly into bank accounts.

FreshBooks includes detailed reporting tools that make it easier for business owners to manage their finances. Various reports are available for tracking revenue by customer or product and reports on expenses, taxes, and sales trends. The comprehensive reports help businesses stay organized by providing detailed insights into their finances to easily track how much money they're making or losing in any given period. FreshBooks also offers numerous security measures to protect users’ data and funds. All sensitive information is encrypted using industry-standard encryption technology, ensuring that all transactions are safe and secure.

FreshBooks costs from $15/month and offers a 30-day free trial.

Square features a simple credit card reader that lets you accept payment from all major credit cards (Visa, Mastercard, Discover, etc.), and also from mobile payments like Apple Pay and Google Pay. You can store credit cards to charge repeat customers via recurring billing. You can also create custom invoices from your POS on your mobile or laptop and email them directly to your customers. Square has a virtual terminal feature that lets you bill customers remotely or by entering their details over the phone.

Square uses machine learning to conduct fraud detection, protection, and monitoring. Square has level 1 PCI data security standards that encrypt customer information that’s submitted to Square servers securely. It complies with the Payment Card Industry Data Security Standard (PCI DSS) so individual validation of compliance is not required. Square works out of the box with QuickBooks, WordPress, Squarespace, and similar apps.

For card-present payments, the fee is 2.6% + $0.10 per transaction. For card-not-present payments (where you have to manually key the details) the fee is 3.5% + $0.15.

Stripe enables your website to accept global payments from a variety of payment options, making it a good pick for online businesses. It enables payment solutions for online retailers, in-person retailers, and subscription-based businesses with recurring payment modules. The setup is simple and without complicated options. You simply connect your bank details, and it is good to go.

The platform is focused on optimizations with machine learning models training on billions of data points to improve conversions and improve security with revenue recovery and fraud detection. Stripe integrates with MailChimp, WordPress, Chargebee, BigCommerce, and other similar apps. Stripe has an extensive knowledge base and 24×7 email and chat support.

Pricing varies from country to country but is usually within 2% to 3% of the transaction.

Helcim helps you accept credit cards easily from your device. With the Helcim virtual terminal, you can convert your computer, mobile, or tablet into a credit card processor. It lets you accept all major credit cards like Visa and Mastercard. It also enables the authorization of payments in seconds, with all the credit card information securely stored in its vault.

There is a feature for recurring payments where you can bill repeat customers with customized recurring payment plans. You can also directly sync the information with Quickbooks online. You can request payments via email or SMS and also send automated reminders. Helcim integrates with apps like Quickbooks, Magento, and WooCommerce.

For in-person payments, the pricing is 0.30% of the transaction amount + $0.08. For manually keyed transactions and online transactions, the rates are 0.50% + $0.25.

FTNI helps streamline and automate accounts receivable operations. It lets you accept one-time and recurring payments from credit and debit card payments. FTNI’s ETran platform lets you deliver the flexibility to use your existing bank, merchant processor, and back-office relations to manage payment acceptance. FTNI can send customized invoices and securely accept checks, credit, and debit cards via the ETran mobile app.

FTNI does not list any integrations on its site. Customer support is available via email and chat. There’s also a knowledge base with step-by-step guides.

FTNI provides customized pricing upon request.

Fiserv offers automated payments processing across all payment types and about 60 clearing schemes, including high value, low value, SWIFT, BAHTNET, RENTAS, and G3. It offers a single payment platform for domestic and regional clearings, including Singapore, Malaysia, Indonesia, and Thailand.

Their real-time payment architecture allows you to add clearings and refine workflows according to your developed payment strategy. The app is compatible across all devices, be it mobile, tablet, or desktop. Fiserv does not list any integrations on its site. Support is via phone, email, and a ticketing system.

Fiserv offers customized pricing upon request.

Adyen is a payment services provider that lets you accept online and in-app payments via a virtual terminal. Adyen lets you build a customized checkout experience with customized payment flows, tax, receipts, and tippings. Adyen enables your business to accept all major credit card payment methods. There is the ability to add discounts, one-click payments, and rewards using payment link data. In terms of security, there is fraud protection using rules-based A.I. risk management.

Adyen gives you a visual depiction of your sales performance with filters for daily, weekly, and monthly performance. There is a feature for recurring payments to cater to repeat customers. Adyen integrates with WooCommerce shopping cart app, BigCommerce, Commercetools, and other similar apps. There is 24/7 support via email and chat.

Adyen has a $0.12 per transaction processing fee for all major cards.