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Best Credit Card Processing Companies 2022

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Global Electronic Technology, Inc.
Best Credit Card Processing Companies 2022

It’s practically impossible to do business these days without accepting credit cards, whether in person or online. In order to take credit card payments, however, you will need to use a credit card processing company.

Best Credit Card Processors

  • Square: Best for Growing Businesses
  • GETTRX: Best for Growing Businesses
  • StripeBest for Online Businesses
  • Helcim: Best for High-Volume Businesses
  • Stax: Best for High-Revenue Businesses
  • Merchant One: Best for Easy Approval
  • PayPal: Best for E-Commerce Businesses
  • Clover: Best for New Businesses
  • QuickBooksBest for Online Businesses

Unfortunately, it can be confusing to know which credit card processor is right for your business. Some companies charge a fee per transaction that becomes more affordable as more credit card transactions are processed, while others use flat-rate pricing that can be friendlier to businesses with fewer credit card transactions. Forbes Advisor has researched the best options available to bring you a list of the best credit card processing companies available today.


What Is a Credit Card Processing Company?

Credit card processors make it possible for you to take credit card payments by connecting the various services involved in the process. These include the credit card network, issuing banks and your own merchant bank account.


When a customer swipes their credit card at a point-of-sale, a credit card processing company translates the information on the card into payment details for the merchant. This keeps the customer’s information secure, verifies funds are available and gets those funds to the vendor in a timely manner.

How Does a Credit Card Processing Company Work?

Credit cards are issued by a customer’s bank and are encoded with their personal account details. Swiping or inserting a card at a merchant’s point-of-sale triggers a chain of events to complete a sale. The merchant’s credit card processing company sends a query to the issuing bank to verify funds availability. The bank will approve or deny the transaction and send a notification back through the processor to the point-of-sale.


At regular intervals, generally at close of business day, the processing company transmits the approved transactions in batches to the appropriate banks to initiate transfer of funds. Processing is complete once the money is deposited into the merchant’s bank account.


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