Payment Processor Comparison for SMBs
TL;DR
- Stripe wins for online and developer-led businesses; Square wins for card-present retail and service businesses; Shopify Payments wins if you're on Shopify
- Flat-rate pricing (Stripe at 2.9% + $0.30 online / 2.6% + $0.10 in-person, Square at 2.6-3.3% depending on plan) is simpler; interchange-plus (Helcim at IC + 0.40% + $0.08 in-person at entry level, with auto volume discounts) saves money at higher volume but requires understanding your statement
- Keyed transactions cost 0.3-0.5% more than card-present and carry higher fraud rates - restrict them to genuine need cases only
- Published pricing is a starting point; at $50K+/month you can negotiate interchange-plus and custom terms with most processors
Key Fact: Under $10K/month, use flat-rate processors (Square at 2.6% + $0.10 CP, Stripe at 2.9% + $0.30 CNP). Over $10K/month, interchange-plus (Helcim at IC + 0.40% + $0.08 CP at entry level, with auto volume discounts) saves money. Over $50K/month, negotiate custom terms - published pricing is a starting point, not a ceiling.
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| Processor | CP Rate ↑ | CNP Rate ↕ | Monthly ↕ | Fraud Tools | Best For |
|---|---|---|---|---|---|
| StaxSubscription | IC + 8c (no %) | IC + 15c (no %) | $99 - $199 | Basic fraud filters | High-volume SMBs ($8K+/mo) |
| AdyenInterchange-plus | IC++ (negotiated) | IC++ (negotiated) | Enterprise minimum | RevenueProtect - ML scoring, custom rules, velocity checks (included) | Enterprise, global acquiring |
| HelcimInterchange-plus | IC + 0.40% + 8c | IC + 0.50% + 25c | $0 | Basic AVS/CVV only | Cost transparency, $50K+/mo |
| PayPal / ZettleFlat-rate | 2.29% + 9c (Zettle) | 3.49% + 49c (PayPal) | $0 | Seller Protection + Fraud Management Filters | PayPal wallet conversion |
| Clover (Fiserv)Flat-rate | 2.3% + 10c | 3.5% + 10c | Varies by plan | TransArmor tokenization + basic filters | Multi-industry POS, restaurants, retail |
| ToastFlat-rate | 2.49% + 15c | 3.50% + 15c | $0 - $69+ | Basic POS fraud screening | Restaurants only |
| StripeFlat-rate | 2.6% + 10c | 2.9% + 30c | $0 | Radar ML (free) + Radar for Fraud Teams (+$0.02/txn; $0.07 on Connect platforms) | Online, SaaS, developers |
| SquareFlat-rate | 2.6% + 10c | 2.9% + 30c (Plus) / 3.3% + 30c (Free) | $0 / $49 (Plus) | Auto ML detection, CVV/AVS, velocity checks (all free) | Retail, card-present, simple setup |
| Shopify PaymentsFlat-rate | 2.6% + 10c (Basic) | 2.9% + 30c (Basic) | $39+ (Shopify plan) | Fraud Analysis + Shopify Protect on Shop Pay | Shopify stores |
| LightspeedFlat-rate | 2.6% + 10c | 2.9% + 30c | $89 - $289 | Basic fraud screening | Complex retail inventory |
| MonerisFlat-rate / IC+ | 2.65% + 10c | 2.85% + 30c | $29.95 | Basic fraud filters | Canadian businesses |
| BraintreeFlat-rate | N/A (online-focused) | 2.59% + 49c | $0 | Basic CVV/AVS (free) + Kount-powered ML (paid add-on) | Cards + PayPal + Venmo |
Rates verified against vendor documentation, early 2026. Always confirm current pricing with each provider. Effective rate depends on your card mix, ticket size, and volume.
Side-by-Side Pricing (2026 US Rates)
How to read this table
- Flat-rate providers quote an all-in rate (they keep the difference vs interchange).
- Interchange-plus providers pass through interchange + add a smaller markup.
| Provider | Best for | CP (in-person) | CNP (online / invoices) | Keyed / Virtual terminal | Built-in Fraud Tools | POS offering |
|---|---|---|---|---|---|---|
| Stripe | Custom online flows, subscriptions, platforms | 2.6% + 10¢ (Terminal) | 2.9% + 30¢ (domestic) | Manual entry adds +0.5% | Radar - ML scoring on every txn (included); Radar for Fraud Teams (+$0.02/txn; $0.07 on Connect platforms) adds custom rules, review queue, 3DS control | Not a "full POS" by default; supports in-person via Terminal + POS partners |
| Square | Fast setup + great SMB POS | 2.6% + 10¢ | 2.9% + 30¢ (Plus $49/mo) / 3.3% + 30¢ (Free plan) | 3.5% + 15¢ (keyed-in / card on file) | Auto ML fraud detection, CVV/AVS checks, velocity checks, card-testing protection (all included, no custom rules) | Full POS ecosystem (hardware + POS app) |
| Shopify Payments | Shopify stores + omnichannel retail | Plan-based (Basic: 2.6% + 10¢) | Plan-based (Basic: 2.9% + 30¢; Advanced: 2.5% + 30¢) | (Varies; often treated as CNP) | Fraud Analysis indicators per order (included); Shopify Protect chargeback coverage on eligible Shop Pay orders | Shopify POS (tightest if you're already on Shopify) |
| Helcim (Interchange+) | Cost transparency; better at higher volume | IC + 0.40% + 8¢ (auto volume discounts as you scale) | IC + 0.50% + 25¢ (auto volume discounts as you scale) | Included in CNP/recurring tiers | Basic AVS/CVV checks (included); no custom rules engine | Terminals + invoicing/VT; not a "Square-style POS" bundle |
| Clover (Fiserv) | Multi-industry POS hardware + apps | 2.3% + 10¢ (varies by plan/ISO) | 3.5% + 10¢ (varies by plan/ISO) | (Varies by plan) | TransArmor tokenization/encryption (Fiserv); basic fraud filters via acquirer | Full POS ecosystem - Station, Mini, Flex, Go + app marketplace |
| Toast | Restaurant-specific POS | 2.49% + 15¢ | 3.50% + 15¢ (online ordering) | (Not typical use case) | Basic fraud screening built into restaurant POS (included) | Purpose-built restaurant POS - terminals, KDS, tableside handhelds, kiosks |
| Stax (subscription model) | High-volume SMBs ($8K+/mo) | IC + 8¢ (no % markup) | IC + 15¢ (no % markup) | Included in online tier | Basic fraud filters (included) | Terminals + virtual terminal + invoicing |
| Lightspeed | Complex retail inventory, multi-location | 2.6% + 10¢ | 2.9% + 30¢ | (Varies) | Basic fraud screening (included); no standalone fraud product | Full retail/restaurant POS with advanced inventory, supplier catalog |
| Chase Payment Solutions | Current Chase banking customers | 2.6% + 10¢ | 2.9% + 25¢ | 3.5% + 10¢ | Basic fraud filters (included) | Offers a range of terminals and POS solutions |
| PayPal / Zettle | PayPal wallet conversion + cards | 2.29% + 9¢ (Zettle) | 3.49% + 49¢ (PayPal Checkout); 2.99% + 49¢ (card processing) | 3.5% + 15¢ (Virtual Terminal) | Seller Protection on eligible txns; Fraud Management Filters (AVS, CVV, country/amount blocks); internal ML scoring (not merchant-configurable) | Zettle for in-person; PayPal for online |
| Braintree (PayPal) | Developer-friendly cards + wallets | (Typically used for online, not SMB POS) | 2.59% + 49¢ (cards) | (Depends on setup) | Basic: CVV/AVS/duplicate detection (included); Advanced: Kount-powered ML scoring, custom rules, review queue (additional fee) | Not a POS suite; payments platform |
Rates verified against vendor documentation, early 2026. Always confirm current pricing with each provider.
Quick picks (by SMB type)
"I just need to take payments fast" (service businesses, solo operators)
- Square: simple setup + strong SMB POS + transparent flat rates.
- Stripe: great for online + invoices + "build what you want" workflows; POS is via Stripe Terminal integrations.
"I'm running a Shopify store (and maybe a retail counter too)"
- Shopify Payments: simplest if you're already on Shopify; avoid the 0.5-2% third-party transaction fee.
"I care about lowering cost as I scale volume"
- Helcim: interchange-plus with published markup schedule (automatic volume discounts as you grow).
- Stax: subscription model ($99-$199/month) with interchange passthrough - no percentage markup, just per-transaction cents (8c in-person, 15c online). Best at $8K+/month.
"I need professional POS hardware for a restaurant or retail store"
- Clover: the widest range of POS hardware (handhelds, countertop terminals, full registers, kiosks). Best for multi-industry retail.
- Toast: purpose-built for restaurants. Online ordering, kitchen displays, tableside payments, and payroll in one platform.
- SpotOn: growing restaurant and retail POS with competitive rates (1.99% + $0.25 CP). Worth getting a quote alongside Toast and Clover.
"I have complex retail inventory (sizes, colors, variants, 100+ SKUs)"
- Lightspeed: the deepest inventory management among SMB POS platforms. Matrix inventory, purchase orders, vendor management, serialized tracking.
"I want cards + PayPal + Venmo in one integration"
- Braintree: developer-friendly, all three payment methods in one SDK.
"I'm a Canadian business"
- Moneris: Canada's largest processor. Best for high-volume card-present, multi-location, or RBC/BMO customers.
- Square and Stripe both operate in Canada and work well for most Canadian SMBs.
"I need global acquiring with great APIs ($5M+/year)"
- Checkout.com: Stripe-quality developer tools at enterprise-negotiated IC++ rates. Local acquiring in 50+ countries.
"I want a traditional 'merchant account' from a large US bank"
- Chase Payment Solutions: good for existing Chase business banking customers.
"I want PayPal wallet + cards"
- PayPal: useful when PayPal button conversion matters, but expensive for cards.
- PayPal Zettle: PayPal’s mobile-first card reader for in-person sales (2.29% + $0.09 CP). Good if you already use PayPal online and want a matching in-person solution.
Understanding Payment Channels
Accepting payments usually means supporting three "channels":
- CP (Card-Present): tap/insert/swipe in person (lowest fraud + usually lower cost)
- CNP (Card-Not-Present): online checkout, invoices, payment links
- Keyed / Virtual terminal: you type the card number (highest risk + usually highest cost)
- POS: your in-person "cash register" software + hardware (often bundled with processing)
Important: pricing changes, varies by country, and can vary by industry/MCC. The tables above use published US pricing from each provider’s official pages where available. Rates as of early 2026. Verify current rates with each provider before signing up.
For In-Depth Profiles
See detailed processor profiles including when to use each, common gotchas, and scale-based recommendations:
- Stripe - Online, SaaS, developers
- Square - Retail, card-present, non-technical
- Shopify Payments - Shopify stores
- Helcim - Interchange-plus transparency
- Stax - Subscription pricing, high-volume savings
- Clover - Best POS hardware, restaurants and retail
- Toast - Restaurant-specific POS and processing
- Lightspeed - Complex retail, advanced inventory
- Braintree - Cards + PayPal + Venmo
- PayPal - Brand recognition, trust
- Moneris - Canada’s largest processor
- Checkout.com - Mid-market global, developer-friendly
- Adyen - Enterprise, global
Or see Processors Overview for comparison and decision framework.
Key Fact: On a $20 transaction, the $0.30 fixed fee alone equals 1.5% - making the true effective rate 2.9% + 1.5% = 4.4%. Small-ticket merchants should prioritize processors with lower fixed fees or per-transaction pricing models like Stax (interchange + $0.08 flat per CP transaction, no percentage markup).
The "Geography Gap" (US vs. EU)
When a US company sees a 1.2% rate for Europe, they need to understand that this only applies to Local-to-Local transactions.
| Factor | United States (Domestic) | Europe (EEA Domestic) | The "US SMB" Reality |
|---|---|---|---|
| Interchange Cap | None (Avg. 1.8% – 2.2%) | Capped at 0.3% | US rates fund the "Cashback" culture. |
| Card Mix | High Rewards/Infinite | Basic Debit/Credit | Premium US cards cost more to process. |
| International | +1.5% surcharge | +1.5% surcharge | A US company selling to EU pays more. |
The "True Cost" Table for a US Merchant
Instead of showing "Europe is 1.2%," show what a US-registered LLC pays when selling into these regions.
Scenario: $10k Monthly Sales | $20 Average Ticket | Using Stripe/Square (US Entity)
| Region of Customer | Base Rate | Intl. Surcharge | Total Cost ($10k) | Why? |
|---|---|---|---|---|
| USA Customer | 2.9% + $0.30 | $0 | $440 | Standard flat rate. |
| Canada Customer | 2.9% + $0.30 | +1.5% | $590 | Cross-border assessment. |
| Europe Customer | 2.9% + $0.30 | +1.5% | $590 | Plus possible 1-2% FX fee. |
| UK Customer | 2.9% + $0.30 | +1.5% | $590 | Brexit ended the EU caps for UK-US. |
The "Ticket Size" Visual
For your $20 ticket size example, the "Fixed Fee" ($0.30) is the silent killer. On your site, I recommend a call-out box like this:
🚨 The $0.30 Penalty: On a $100 transaction, $0.30 is only 0.3%. On a $20 transaction, $0.30 is 1.5%. Total Effective Rate for a $20 item: 2.9% + 1.5% = 4.4%.
Grouping by "SMB Profile"
Instead of just by country, group them by how they help a US company manage global risk:
Group A: The "Localizers" (Best for US companies selling globally)
- Adyen: Routes payments locally in Europe/Asia to avoid the +1.5% international fee.
- Airwallex: Allows you to collect USD, EUR, and GBP into local "wallets" so you never pay the 2% FX conversion fee.
- dLocal: Specifically for "Hard Markets" (Brazil, Nigeria, India) where US cards often fail.
Group B: The "Revenue Optimizers" (Best for US domestic services)
- Stax / Helcim: They use Interchange Plus. Because they don't charge a flat 2.9%, when a customer uses a basic "no-rewards" debit card, the merchant only pays ~1.2% instead of 2.9%.
Group C: The "Ecosystems" (Best for Operations)
- Shopify / Square: You pay a premium (higher fees) for the convenience of inventory and shipping being in one place.
Summary "Rule of Thumb" for your Site
- Under $10k/mo: Use a Flat-Rate (Square/Stripe). The simplicity is worth the cost.
- Over $10k/mo: Move to Interchange Plus (Helcim).
- Over $50k/mo: Move to a Subscription model (Stax/Payment Depot).
- Selling Internationally? Use a "Global Orchestrator" (Adyen/Airwallex) or you will lose 4-6% of your revenue to "hidden" cross-border fees.
The SMB Payment Processor Directory (50 Options)
1. North America (USA & Canada)
The most competitive market, heavily focused on flat-rate and interchange-plus models.
| # | Processor | CP (In-Person) | CNP (Online) | Monthly |
|---|---|---|---|---|
| 1 | Square | 2.6% + $0.10 | 2.9% + $0.30 (Plus) / 3.3% + $0.30 (Free) | $0 (Free) / $49 (Plus) |
| 2 | Stripe | 2.6% + $0.10 | 2.9% + $0.30 | $0 |
| 3 | Helcim | IC + 0.40% + $0.08 | IC + 0.50% + $0.25 | $0 |
| 4 | Stax | IC + $0.08 | IC + $0.15 | $99-$199 |
| 5 | Clover (Fiserv) | 2.3% + $0.10 | 3.5% + $0.10 | $15+ (varies by plan/ISO) |
| 6 | Moneris | 2.65% + $0.10 | 2.85% + $0.30 | $29.95 |
| 7 | Chase Pay | 2.6% + $0.10 | 2.9% + $0.25 | $0 |
| 8 | QuickBooks | 2.5% | 2.9% + $0.25 | $0 |
| 9 | Wave Pay | 2.9% + $0.60 | 2.9% + $0.60 | $0 |
| 10 | Dharma | IC + 0.15% | IC + 0.20% | $25 |
| 11 | National Processing | IC + 0.18% | IC + 0.29% | $9.95 |
| 12 | PaymentCloud | ~3.5% + $0.15 | ~4.0% + $0.30 | $15-$30 |
| 13 | ProPay | 2.69% + $0.25 | 3.14% + $0.30 | $39-$99 (Annual) |
| 14 | Payline Data | IC + 0.3% | IC + 0.5% | $10-$20 |
| 15 | Adyen | IC + ~$0.12 | IC + ~$0.12 | Enterprise min (varies) |
| 16 | Authorize.net | N/A (gateway only) | $0.10/txn + $0.10 batch | $25 |
| 17 | Braintree (PayPal) | N/A (online-focused) | 2.59% + $0.49 | $0 |
| 18 | Gravity Payments | Custom/Flat | Custom/Flat | Custom |
| 19 | BluePay | 2.29% + $0.29 | 2.89% + $0.29 | $13 |
| 20 | Worldpay (FIS) | IC++ (enterprise) | IC++ (enterprise) | Enterprise (negotiated) |
| 21 | Fiserv | 2.6% | 3.5% | $25 |
| 22 | Global Payments | 2.5% | 2.9% + $0.20 | $30 |
| 23 | Nuvei | 2.49% | 2.89% | $15 |
| 24 | Elavon | 2.6% + $0.10 | 2.9% + $0.30 | $10 |
| 25 | Shift4 | 2.65% | 2.9% + $0.20 | $0 |
| 26 | CardConnect | 2.4% + $0.10 | 2.9% + $0.20 | $20 |
| 27 | First Data (Fiserv) | 2.69% | 3.69% | $19 |
| 28 | Merchant One | 2.2% | 2.9% | $10 |
| 29 | Flagship RO | 2.3% | 2.9% | $7.95 |
| 30 | Fortis | 2.5% | 2.9% | $20 |
| 31 | Paya (Sage) | 2.3% | 2.9% + $0.20 | $20 |
| 32 | Payment Depot | IC + $0.15 | IC + $0.15 | $59 |
| 33 | Handpoint | 2.5% | 2.9% | $15 |
| 34 | Bank of America | 2.7% | 2.9% + $0.30 | $0 |
| 35 | TSYS (Global Payments) | Via Global Payments | Via Global Payments | Via Global Payments |
| 36 | Toast | 2.49% + $0.15 | 3.50% + $0.15 | $0-$69+ |
| 37 | Lightspeed | 2.6% + $0.10 | 2.9% + $0.30 | $89-$289 |
| 38 | SpotOn | 1.99% + $0.25 | 2.99% + $0.25 | $0-$135 |
| 39 | NCR Voyix | Custom | Custom | Custom |
| 40 | Checkout.com | N/A (online-focused) | IC++ (negotiated) | $0 |
Rates verified against vendor documentation, early 2026. Always confirm current pricing with each provider.
2. Europe & United Kingdom
Highly regulated; transaction fees are often lower due to interchange caps on consumer cards.
| # | Processor | CP (In-Person) | CNP (Online) | Monthly |
|---|---|---|---|---|
| 11 | Mollie (EU) | 1.2% + €0.25 | 1.2% + €0.25 | €0 |
| 12 | SumUp (EU) | 1.69% | 2.5% | €0 |
| 13 | Tyl (NatWest) | 1.39% + 5p | 1.99% + 5p | £0 |
| 14 | Adyen (Global) | IC + €0.11 | IC + €0.11 | €100 (min) |
| 15 | Viva.com | 0% (w/ spending) | 1.15% | €0 |
| 16 | Worldpay | 2.75% | 2.9% + £0.20 | £19 |
| 17 | Zettle (UK) | 1.75% | 2.5% | £0 |
| 18 | Payrexx (CH) | 1.25% + 0.15 CHF | 1.25% + 0.15 CHF | 9 CHF |
| 19 | Nexi (IT) | 1.49% | 2.49% | €0 |
| 20 | Monei (ES) | 0.9% + €0.15 | 1.2% + €0.24 | €0 |
| 21 | Epos Now (UK) | 1.7% | 2.5% | £25 |
| 22 | Checkout.com (UK) | N/A | IC++ (negotiated) | £0 |
3. Africa
Dominated by mobile money integration and high-growth fintech players.
| # | Processor | CP (In-Person) | CNP (Online) | Monthly |
|---|---|---|---|---|
| 21 | Paystack (NG) | 0.5% (capped) | 1.5% + ₦100 | ₦0 |
| 22 | Flutterwave | 2.0% | 2.9% – 3.8% | $0 |
| 23 | Yoco (ZA) | 2.6% | 2.95% | R 0 |
| 24 | DPO Group | 3.5% | 3.5% | $0 |
| 25 | Peach Pay (ZA) | 2.5% | 2.5% | R 0 |
| 26 | Interswitch | 1.5% | 1.5% (capped) | ₦0 |
| 27 | Remita | 1.5% | 1.5% | ₦0 |
| 28 | M-Pesa (KE) | 0.5% | 1.0% | 0 |
| 29 | Ozow (EFT) | N/A | 1.5% | 0 |
| 30 | Fawry (EG) | 2.5% | 2.75% | 0 |
4. Asia-Pacific (APAC)
Diverse market with a mix of traditional banking and QR-code-heavy economies.
| # | Processor | CP (In-Person) | CNP (Online) | Monthly |
|---|---|---|---|---|
| 31 | Eway (AU) | 1.5% + 25c | 1.5% + 25c | $0 |
| 32 | Airwallex | 1.2% | 2.5% | $0 |
| 33 | Razorpay (IN) | 2.0% | 2.0% | ₹0 |
| 34 | Tyro (AU) | 1.4% | 1.9% | $29 |
| 35 | Omise (TH) | 3.65% | 3.65% | 0 |
| 36 | Xendit (ID) | 2.5% | 2.9% | 0 |
| 37 | 2C2P | 3.0% | 3.5% | 0 |
| 38 | GMO-PG (JP) | 3.25% | 3.6% | ¥3000 |
| 39 | HitPay (SG) | 1.5% | 2.8% | $0 |
| 40 | Till (AU) | 1.4% | 1.7% | $0 |
5. Latin America (LATAM)
Heavy emphasis on installments (cuotas) and cash-voucher payments.
| # | Processor | CP (In-Person) | CNP (Online) | Monthly |
|---|---|---|---|---|
| 41 | dLocal Go | 2.99% | 2.99% – 4.99% | $0 |
| 42 | Mercado Pago | 3.49% | 3.99% | $0 |
| 43 | PagSeguro | 2.39% | 3.99% | $0 |
| 44 | Conekta (MX) | 2.9% + $2.50 MXN | 2.9% + $2.50 MXN | $0 |
| 45 | Kushki | 2.5% | 3.5% | $0 |
| 46 | EBANX | 2.5% | 3.5% – 5% | $0 |
| 47 | Stone (BR) | 1.99% | 3.5% | R$ 0 |
| 48 | Clip (MX) | 3.6% | 3.6% | $0 |
| 49 | Bold (CO) | 2.99% | 2.99% | $0 |
| 50 | Niubiz (PE) | 3.45% | 3.99% | $0 |
Next Steps
Ready to choose a processor?
- Buying Payments - Decision framework for processor selection
- Processor Management - Managing processor relationships
- Reading Statements - Understanding your fees
Want to understand costs better?
- Interchange Optimization - Reduce interchange costs
- Processor Fees Guide - Hidden fee breakdown
- Settlement & Reconciliation - How money moves
Related Pages
- Buying Payments - How to evaluate and negotiate
- Payment Methods - Cards, ACH, wallets, BNPL
- Going Global - International processing considerations
- Interchange Reference - Interchange rate tables