5 Cheap Payment Processors to Help You Take Credit Card Payments

Filed as General on May 28, 2012 9:00 am

Business owners can expand their horizons by accepting credit cards. Credit cards may be accepted in a store front or on a website or blog. Many blogs charge companies to place a link (even if it’s within the copy) on the blog, and other blogs simply need to accept payments for services they provide. Here are five cheap payment processors for in-store payment processing and online payment processing curated by some of my favorite folks at CreditCards.co.uk, a UK based website designed to provide help in choosing a card based on your personal circumstances.

1.    FreeAuthNet.com

FreeAuthNet.com is an affordable payment processor which is commonly used for retail stores, restaurants and of course Internet businesses. The company offers low rates and dependable service. FreeAuthNet.com works with processing banks to negotiate the best possible rates available. There is no risk to sign up for FreeAuthNet.com, and clients can cancel at any time without any penalty.

Rates: The discount rate is 2.04 percent, and the per-transaction fee is $0.24. These fees are some of the lowest in the industry. The set-up fee, license fee and application fee are free. The annual fee and the check-by-phone fee are also free.

2.    Flagship Merchant Services

Flagship Merchant Services is affordable and reputable. The company has been recognized by numerous authority publications in the industry. Customers are not required to sign a lengthy contract. Most merchants sign up for a month-to-month service. Clients have nothing to lose by trying the service because there is no termination fee associated with the account.

The account can be canceled if the business suffers financial difficulty or if business owners prefer another credit card processor. This particular payment processor does not have a specific mobile application nor can it accept international credit cards.

Rates: Rates start from 0.38 percent.

3.    iTransact

iTransact is one of the most affordable credit payment processors. Business owners can use the Perl-based shopping cart called RediCart. RediCart is designed to accept credit cards, EFT payments and checks.

Only three small PERL scripts are required to install this cheap payment processor on the website. The header and footer HTML pages are included for quick set up. Cart contents can be tracked with the customer’s IP address.

Rates: There are not any per-transaction or usage fees associated with this payment processor. All payments can be processed through a SSL server. The application is available free of charge.

4.    National Bankcard

National Bankcard is another reputable payment processor in the United States. The tool accepts credit and debit cards from customers. The company has an A+ rating with the Better Business Bureau and is known for providing exceptional service. Currently, the company serves retail stores, ecommerce businesses, restaurants and other industries also.

Rates: Rates range from zero percent to $0.25. The services can be obtained without paying a setup fee.

5.    Merchant Express

Merchant Express is accredited by the Better Business Bureau (BBB) and is one of the top-rated credit card processing companies. This company offers numerous solutions for its customers. Both wireless and phone processing are available. Point-of-sale terminals are also offered by this company. Clients have nothing to lose by trying Merchant Express. The company offers a 30-day risk free trial.

Rates: Merchant Express rates are significantly below industry average. For instance, the retail account rates are 1.69 percent, and the retail transaction fee is $0.19. There is no annual fee, no application fee, no setup fee, no programming fee, no monthly maintenance fee, no Authorize.net transaction fee, no shopping cart fee or no overlimit fee.

Photo Credit: lethoff.com


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  1. By Bhagesh Nair posted on June 4, 2013 at 8:53 pm
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    Great collection. But there are several better players in the north american Payment processing arena like, NAB, Harbortouch, Heartland payments etc.. In the low risk category.


  2. By iPayDNA posted on November 1, 2013 at 6:23 am
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    Great post on Credit Card Payments processing. In concern, ipaydna is also a great e-commerce merchant to accept online payment processing through various payment channels provides credit card, debit card and non-card payment processing services.


  3. By Rami Levi posted on November 12, 2013 at 5:49 pm
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    Working in the payment processing industry for some time now, this article shows 5 out of hundreds of great merchant service providers. What merchants need to focus on sometimes would be service and opportunities. Look for ways on how merchant services companies help businesses grow, MagicPay for example offers a marketing software to its merchants for free, so they may not be the cheapest company but they sure help businesses grow and at the same time are very affordable.


  4. By Markus posted on November 27, 2013 at 10:22 am
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    There is also Paymill on the market, offering to the clients payments in 100 different currencies and with the option of choosing between several credit and debit card companies for finalizing the payment and pay only for successfully closed transactions.


  5. By Everest Merchant Services posted on January 26, 2014 at 8:54 am
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    Great blog and post thanks for sharing remarkable and knowledge with us.


  6. By Ej Casabuena posted on December 14, 2014 at 6:09 am
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    I love shopping online and it gives me convenient to find website or shops where I can buy online. Thanks for listing payment processors for credit card payments.


  7. By Jessie r posted on February 10, 2015 at 12:13 pm
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    We are a small hotel that is not looking to accept credit cards from our guests, but just to be able to charge the credit cards of customers who booked online with us but never showed up- it’s within the booking agreement to charge them for their first night (given that they gave us no notice of a cancelation), but thus far we have not been able to collect any compensation. We need a simple online merchant service that will probably only be used once a week for small amounts of money- which would be the best option for us? Thanks for anyone’s option.


    • By Mukesh posted on March 2, 2015 at 3:21 pm
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      Try Square. It is credit card processing. Not sure how much fee they charge. It even comes with a instrument whch can be hooked to your smart phones and can be used to acceept payments.


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