The Best Merchant Payment Processing You Should Consider Using in 2022

For the merchant, it’s easier to make money than to collect it. Merchants often struggle with fraud, payment integration, and online processing. Furthermore, selecting from a large number of payment processing companies is difficult.

According to reports, approximately 1,300 payment processing businesses are registered with Visa. The data includes national organizations as well as private organizations. Finding the best payment services for business is complex.

Business owners often find it challenging to choose the best merchant payment processing. There is no perfect metric to state that this software is excellent. You have to find what works best for you. To help you, we came up with a list of highly trusted merchant payment solutions. You will find the list of pros and cons at the end of the review.


Stax is a Merchant Payment Solutions Platform that processes online payments and in-person payments as well. Fattmerchant founded the company in 1957. From 1957 to today, the company has been serving thousands of customers. Stax is best fitted for a company whose income is in the range of $500.000 to $ 1 million.

Pricing and transactional restrictions vary across each plan. The monthly charges for the Growth Plan are approximately $99, the Pro Plan is approximately $159, and the Ultimate Plan is approximately $199.

It is essential to select a plan and price based on your company’s requirements. Read below for the pros and cons of Stax :


Best for High-Profit Businesses
The pricing is fixed.
It provides helpful analytics reports.
Ease of Use:

Cons :

It is prohibitively expensive for seasonal and low-income businesses.
Some errors are reported in the billing.
Hidden fees are reported in some cases.

Stax is an easy-to-use and reliable online payment solution for big businesses.


CardX was established in 2013 by Jonathan Razi and is a reliable payment processing solution. For e-commerce, B2B, B2C, and all other small businesses, CardX offers a variety of services. Because of the low prices, the services are simple for any small business owner to use.

The fees are based on the swipe rate, which is $1.00 + $0.25. The interest rate on business credit cards is 3.38%. Other amenities, such as recurring charges for statements, termination, and compliance, are erratic.

Overall, CardX is a trustworthy and user-friendly solution. You must consider the inescapable cost. Below are a few justifications for joining CradX:

Pro :

Pricing is transparent.
There is no monthly pricing structure.
24/7 Customer Support
There are no setup fees and no credit card fees.

Cons :

CradeX does not have Advanced Merchant Services.
restricted to only 48 states
The early termination fee is not constant.
PCI compliance fees are also variable.

Payment Depot-

Danny Choi launched the internet payment processing business PaymentDepot in 2013. Depot services are ideal for companies with annual revenues of up to $500,000. When it comes to selecting the best online payment processing, pricing and plans are crucial.

There are three plans—the starter plan, the starter plan plus, and the growth plan. Starter plans cost $59 and allow a $125,000 processing limit. Starter Plus costs $79 and allows you a $250,000 processing limit, and the last Growth Plan costs $99 for a $500,000 processing limit.

A depot is a dependable and simple-to-use platform, despite pricing that appears to be fairly expensive. The advantages and disadvantages of the Payment Depot are listed below.

Pro :

The platform is simple to use.
There are no setup or sign-up fees.
Customer support is available. 24/7
Compatible with various card readers,

Cons :

Online Support Options Are Limited.
Payment Depot’s low-risk option
For small businesses, it’s expensive.

Chase for Business-

Jhon Thompson established Chase for Business in 2000 to offer a simple payment solution for small enterprises. It is widely accessible to small enterprises like eateries, e-commerce stores, and service providers due to the low monthly subscription fee. The $15 monthly fee is for the membership.

Chase is well-known for two things: its affordable monthly fees and the versatility of its accounts as both acquiring banks and payment systems. The main advantages and disadvantages of using Chase for business are as follows:

Pros :

Fast Deposit
Unlimited e-Deposits are available.
You will have access to several POS options.
Credit card process is already built in.


Errors in International Payments
Monthly Fees Are Low
Physical transactions are limit to 20 transactions per month
Feel free to deposit up to $5,000 per month.


Louis launched Square in 2009 with the goal of making online payment services available to startups and small companies. They set their prices to encourage newcomers and to promote an industry that was already booming.

There is no specific monthly fee structure, but there is a square charge flat rate pricing. Square charges 2.6%+10 for contactless payments. And for virtual or e-payment, it costs around 3.5% + 15.

Square is an affordable, easy-to-set-up, and reliable payment solution for businesses. We mentioned all the pros and cons of the Square :


Rates are affordable.
There are no monthly fix costs.
best suited for low-volume merchants.
You will have a range of hardware.


Accounts can be frozen easily.
High-volume merchants may find it expensive.
Poor customer service


As you can see, selecting the best online payment option for a business can be challenging. However, you can speed up the procedure by considering your company’s needs. Consider the following four indicators while choosing the payment solution: ease of use, cost, hardware, and scalability.

cost, hardware, scalability, and user-friendliness. Choose the merchant payment solution that fits your business.


Nikunj Gundaniya, Product manager, one of the leading wallet app development, which provides mobile finance application development services. He is a visionary leader whose flamboyant management style has given profitable results for the company. He believes in the mantra of giving 100% to his work.

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