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Oct 27, 2021 | 6 minute read

8 Top Payment Processors

written by Emily Kathi

If you’re launching any sort of business you’ve thought about payment processing. With so many choices in the marketplace, the selection process can be a daunting one depending on what works best for your business. A solutions-based eCommerce partner will help you choose a payment processor with the following in mind:

  • Integrated payments and checkout – a seamless flow between payments and checkout increase both conversion and payment completion rates
  • Better pricing and total cost of ownership – getting the best rates and forecasting for what’s ahead 
  • A simplified experience – choosing a best-in-class provider so you go to market faster with confidence

When comparing payment processors we recommend you ask the following questions of the vendors your evaluating:
What’s your product offering?
How many types of payment are accepted?
Are you adopting a more modern platform or are they legacy? What is you geographic coverage?
Do they have an interactional reach? Are you priced competitively?
How transparent is you pricing structure? Are there membership, setup, or possible hidden fees?
What software and hardware do I need?
And how is it bundled?
What is your approach to integration?

Having asked these questions with our own partners, and consulted the research on the myriad of payment processors and merchant services in the marketplace, here’s a Who’s Who of payment processors with some of their signature strengths:



A strong performer with a robust product offering including fraud detection, point of sale, alternative payment options (like Venmo and PayPal consumer accounts) and financing options such as BNPL (Buy Now Pay Later). PayPal is well-suited for both enterprise and small/midsize businesses. Additional wins: transparent pricing, ease of use, and dedicated customer support.



Analyst-backed and built for larger operations, Stripe offers a broad product menu including card issuing and treasury services, and worldwide acceptance and settlement. Stripe is an exceptionally good fit for eCommerce-based businesses. They offer flat rate pricing and don’t charge monthly subscription fees. Additional wins: highly customizable, streamlined checkouts across devices.



Aside from a solid product offering, Adyen presents a tech-forward approach with a wide international footprint. Additional wins: No setup or monthly fees, customizable solutions.



Owned by PayPal, Braintree is known for its diverse payment options especially in the digital wallet category. It integrates well with eCommerce businesses, but also offers in-store payment capabilities.



Owned by VISA, Cybersource’s product offering is uniquely backed by the gold standard of security.



For a business looking for more out-of-the-box solutions, Square offers a straightforward point of sale system geared towards mobile devices. It’s especially compatible with restaurant, retail, and professional service environments. Square offers value-adds for additional fees such as customer loyalty programs and appointment scheduling.



Designed for high volume mid to large sized businesses, Stax offers membership tiers and value add-ons by tier including accounting software integration and a customizable portal.



Another BNPL solution, Klarna offers point-of-sale loans through an app or in-store experience. This option is useful for big ticket purchases where an initial down payment is made, and subsequent payments are drawn from a credit or debit card. Typically interest-free, late fees are assessed for failed payments. Buy Now Pay Later is an increasingly popular consumer financing option.

Ultimately, choose what's best for you

Payments are a complex yet integral part of the eCommerce experience. Elastic Path can help you ask the right questions when determining what works best for your business needs and the expectations of your customers.