- 1. QuickBooks Online — Best payment processing, invoicing, and expense management
- 2. Hopscotch — Best for invoice-based transactions
- 3. Chargebee — Best subscription solution for high-growth ecommerce companies
- 4. Freshbooks — Best payment processing with incremental/upfront/partial payment options
- 5. Square — Best payment processing app for small business
- 6. Stripe — Best for online retail businesses
- 7. Helcim — Best payment processing software for recurring billing
- 8. FTNI — Best payment processing software for financial institutions
- 9. Fiserv — Best payment processing platform for Asia-Pacific enterprises
- 10. Adyen — Best for performance analytics
The best payment processing software helps you sleep at night, knowing that your transactions are handled appropriately. Whether you're an online business, startup, or an established business wanting to move online, the software on this list will improve your financial operations.
Below you'll find my list of the best payment processing software available on the market today.
What is Payment Processing Software?
Payment processing software are cloud-based tools that help online retailers receive payment from customers. Online shoppers can pay using a range of payment methods, including credit card payments and prorated invoicing.
Payment processing software platforms really are a win/win: These tools create greater convenience for your customers, making it easier for them to purchase from you. And these solutions help you keep transactions organized, set up recurring billing, protect against fraud, and safeguard customer payment information.
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.
Need expert help selecting the right Payments Facilitating Software?
We’ve joined up with Crozdesk.com to give all our readers (yes, you!) access to Crozdesk’s software advisors. Just use the form below to share your needs, and they will contact you at no cost or commitment. You will then be matched and connected to a shortlist of vendors that best fit your company, and you can access exclusive software discounts!
Best payment processing, invoicing, and expense management
30-day free trial
|From $30/month||Visit Website|
Best for invoice-based transactions
Free plan available
|Zero fee payment options||Visit Website|
Best subscription solution for high-growth ecommerce companies
Free 14-day trial
|From $249/month||Visit Website|
Best payment processing with incremental/upfront/partial payment options
30-day free trial
|From $15/month||Visit Website|
Best payment processing app for small business
Free plan available
|From $36/month plus 2.9% + $0.30 per transaction||Visit Website|
Best for online retail businesses
Contact Sales for more info
|From 2.9% + 0.30 per transaction||Visit Website|
Best payment processing software for recurring billing
Free account available
|From 0.50% + $0.25 per transaction||Visit Website|
Best payment processing software for financial institutions
|Available upon request||Visit Website|
Best payment processing platform for Asia-Pacific enterprises
Free demo available
|Pricing upon request||Visit Website|
Best for performance analytics
Contact Sales for info
|From 3% + $0.12 per transaction||Visit Website|
Other Payment Processing Software Options
Here are a few more that didn’t make the top list but are still worth looking into if you need more options.
- Unity Payments - Best payment processor for fundraising
- Recurly - Best payment processing system for subscription-based businesses
- Plooto - Best payment processing app for cash monitoring
- Podium - Best text-to-pay software
- Tipalti - Best payment processing software for PO matching
- ChargeBee - Best payment processor for B2B SaaS startups
- HoneyBook - Best invoice customization app
- PayIt - Best payment processing software for public sector
- FiveStars - Best payment processing tool for local businesses
- eBiz Charge - Best email-integrated payment processing software
- Amazon Pay - Best payment gateway for large enterprises
- GoCardless - Best payment processor with pre-built payment flows
- PayPal Enterprise - Best payment processor for checkout optimization
- PlateIQ - Best accounts payable life cycle management software
- Synder - Best payment software for small to mid-sized ecommerce businesses
- First data - Best merchant service for invoice and payment automation
- Worldpay - Best payment processing software for fraud detection
Other Payment Software Reviews
These software review lists may complement your search for payment processing software. I focused on software reviews for payment or payment-adjacent technologies, like fraud prevention or BNPL.
- Point-of-Sale (POS) Software
- Ecommerce Sales Tax Software
- Buy-Now-Pay-Later (BNPL) Platforms
- Mobile Payment Solutions
- Ecommerce Fraud Prevention Software
- Ecommerce Accounting Software
How I Selected The Best Payment Processing Software
Perhaps you're wondering how I choose the best payment processing software for this list? I'm happy to explain my process.
I began by creating a long list of the most popular payment processing software on the market, based on user rankings. I then analyzed each software vendor’s website in fine detail to make sure that their solution covered all the basic features online retailers would need to manage their processes from end-to-end.
Next, I used my selection criteria below to help me finalize my shortlist. Using the criteria as my framework, I was able to compare each payment processing software to see how it compared to the rest of the tools.
Here is a detailed breakdown of my selection criteria for the best payment processing software.
Each payment processing software will work differently and offer different features. However, to be included on this list they must cover the following key functionaliies:
- Ability to accept secure online payments and provide receipts for proof-of-payment
- Ability to accept payments from different cards (Visa, Mastercard), banks, or online systems (PayPal, Amazon Pay)
These are the key features I look for in payment processing software for this list.
- Security: Payment processing software should offer a secure environment for transactions. This includes features like encryption, tokenization, and compliance with industry security standards.
- Multi-payment support: The software should support a variety of payment methods, including credit/debit cards, e-wallets, bank transfers, and more.
- Customization: The software should offer customization options to fit the specific needs of the business, such as the ability to add custom fields or set up custom workflows.
- Reporting and analytics: Payment processing software should provide detailed reporting and analytics to help businesses track and analyze their transactions.
- Fraud detection and prevention: The software should have features to detect and prevent fraud, such as real-time fraud monitoring and chargeback prevention.
- Ease of use: The software should be user-friendly and intuitive, with a streamlined checkout process for customers and an easy-to-use interface for merchants.
- Customer support: The software should provide reliable customer support, with responsive and knowledgeable support staff available to assist with any issues or questions.
Almost every industry needs a payment processing app to process payments. To cater to this wide range of user base, payment processing software should be extremely easy to use and be without any complicated set-ups. A key factor is the level of support provided with the app, in the form of direct help and via knowledge bases.
Is it easy to connect with other tools? The best payment processing apps work out of the box with landing pages, accounting software, ecommerce subscription systems, and other apps. Therefore, I'll look at pre-built integrations, third-party services, and custom integrations using an API.
Value for Pricing
Payment processing software may charge a monthly subscription price as well as a per-transaction fee. I tried to outline detailed pricing information in each case so that you can make your decision accordingly. If any payment processing software has higher than normal pricing, I make sure they have the features to back it up.
What is payment processing?
What does payment processing software do?
What are the key features for payment processing software?
What is a payment gateway?
Payment Processing for the Next Generation
These were my top selections for the best payment processing gateway software. But while we are on this topic, how about you learn what buy-now-pay-later payment platforms are? I think it's relevant because there is a case to be made that not using them can actually damage your business.
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