Best Credit Card Payment System For Small Business

The Best Credit Card Payment System For Small Businesses in 2021

Hello Friends, welcome to our comprehensive guide on the best credit card payment system for small businesses in 2021. This guide aims to help small business owners choose the right credit card payment system that can help them increase sales, improve cash flow, and streamline their payment processing.

Understanding the Importance of a Credit Card Payment System for Small Businesses

Accepting credit card payments has become a standard practice for businesses of all sizes. In fact, studies have shown that businesses that don’t accept credit cards are likely to miss out on potential sales opportunities. This is because many customers prefer to pay with credit cards due to their convenience and security.

Moreover, credit card payments can help small businesses improve cash flow by providing them with immediate access to funds. Unlike checks or cash payments, credit card payments are processed electronically, which means that small business owners can receive payments within a matter of days, if not hours.

The Benefits of Having a Credit Card Payment System for Small Businesses

Having a credit card payment system can provide small businesses with a range of benefits, including:

  • Higher sales and revenue
  • Increased customer satisfaction
  • Improved cash flow
  • Reduced risk of fraud and chargebacks
  • Automated payment processing
  • Time and cost savings

The Top Credit Card Payment Systems for Small Businesses in 2021

There are many credit card payment systems available in the market, but not all of them are suitable for small businesses. Here are the top credit card payment systems that we recommend for small businesses in 2021:

Payment System Key Features Pricing
PayPal Easy to set up, accepts multiple payment types, no monthly fees 2.9% + $0.30 per transaction
Square No monthly fees, accepts all major credit cards, easy to use 2.6% + $0.10 per transaction, or $275/month for unlimited processing
Stripe Easy to set up, supports recurring payments, no monthly fees 2.9% + $0.30 per transaction
Authorize.net Flexible payment options, easy integration with popular platforms $25/month + 2.9% + $0.30 per transaction
Braintree Supports multiple payment types, advanced fraud protection, easy to use 2.9% + $0.30 per transaction

PayPal

PayPal is one of the most popular credit card payment systems available, and it’s also a great option for small businesses. The system is easy to set up, with no monthly fees to worry about. PayPal also supports multiple payment types, including credit and debit cards, PayPal balance, and bank payments.

With PayPal, small business owners can also benefit from special features like PayPal Here, which allows them to accept payments in person using a mobile card reader. This can be particularly useful for businesses that attend markets, fairs, or other events.

How to Set Up PayPal for Your Small Business

Setting up PayPal for your small business is easy. Here’s what you need to do:

  1. Create a PayPal business account
  2. Verify your account and link it to your bank
  3. Add PayPal payment buttons to your website or online store
  4. Download the PayPal Here app and order a mobile card reader (optional)

Square

Square is another popular credit card payment system that’s ideal for small businesses. The system is easy to use, with no monthly fees to worry about. Square also accepts all major credit cards, which can be convenient for businesses that deal with a variety of payment types.

One of the key benefits of Square is its inventory management system, which allows small business owners to track their inventory and sales in real-time. This can be particularly useful for businesses that sell products both in-store and online.

How to Set Up Square for Your Small Business

Setting up Square for your small business is straightforward. Here’s what you need to do:

  1. Create a Square account
  2. Verify your account and link it to your bank
  3. Download the Square mobile app or set up a Square terminal
  4. Start accepting credit card payments

Stripe

Stripe is another credit card payment system that’s popular among small businesses. The system is easy to set up, with no monthly fees to worry about. Stripe supports recurring payments, which can be useful for businesses that offer subscription-based services.

One of the benefits of Stripe is its simplicity. The system is designed to be easy to use, with a user-friendly interface that makes it simple to manage payments and view transaction history.

How to Set Up Stripe for Your Small Business

Setting up Stripe for your small business is easy. Here’s what you need to do:

  1. Create a Stripe account
  2. Verify your account and link it to your bank
  3. Add Stripe payment buttons to your website or online store
  4. Start accepting credit card payments

Authorize.net

Authorize.net is a credit card payment system that’s well-suited for businesses that need flexibility in their payment options. The system supports a variety of payment types, including credit and debit cards, e-checks, and digital payment solutions like Apple Pay.

One of the key benefits of Authorize.net is its integration with popular e-commerce platforms like WooCommerce and Shopify. This can make it easy for small business owners to set up a payment system that’s tailored to their specific needs.

How to Set Up Authorize.net for Your Small Business

Setting up Authorize.net for your small business usually requires the assistance of a developer. However, the system is designed to be easy to integrate with popular e-commerce platforms. Some of the steps involved in setting up Authorize.net for your small business include:

  1. Create an Authorize.net account
  2. Obtain an API key
  3. Configure your payment gateway settings
  4. Integrate Authorize.net with your e-commerce platform

Braintree

Braintree is a credit card payment system that’s designed to be easy to use, with advanced fraud protection features that can help keep your business safe. The system supports multiple payment types, including credit and debit cards, PayPal, and Apple Pay.

One of the key benefits of Braintree is its easy integration with popular e-commerce platforms like WooCommerce, Shopify, and Magento. This can make it simple for small business owners to set up a payment system that’s tailored to their specific needs.

How to Set Up Braintree for Your Small Business

Setting up Braintree for your small business is straightforward. Here’s what you need to do:

  1. Create a Braintree account
  2. Verify your account and link it to your bank
  3. Add Braintree payment buttons to your website or online store
  4. Start accepting credit card payments

Conclusion

In conclusion, having a credit card payment system can provide small businesses with many benefits, including higher sales, improved cash flow, and reduced risk of fraud. While there are many credit card payment systems available, not all of them are suitable for small businesses.

We recommend PayPal, Square, Stripe, Authorize.net, and Braintree as the top credit card payment systems for small businesses in 2021. Each of these systems has its own unique features and benefits, so it’s important to choose the one that best fits your specific needs.

Thank you for reading our guide, and we hope you found it helpful. Don’t hesitate to reach out to us if you have any further questions or concerns. Until next time, happy shopping!

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