The cheapest way to accept Credit Card payments for Small Business

The cheapest way to accept Credit Card payments for Small Business
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As an entrepreneur, it is important to understand the benefits of technology in a small business. Surveys show that small business owners are lagging behind in the use of modern technology, while successful entrepreneurs report significant business benefits using modern technology. Every year more and newer payment methods appear in the world. However, there is still no universal and convenient-for-all users kind of payment method. The most widely used payment method is debit and credit cards. When placing their orders in various online stores or shop at regular stores, most buyers prefer to pay by debit and credit cards, as this payment method is as simple, fast and reliable as possible. Payment solutions like MyPaymentSavvy, PayPal, Payoneer, etc. help small business, as well as a large business, accept credit cards within minutes with reasonable and transparent processing cost. Some of these payment gateways charge convenience fee which allows free credit card processing to businesses. We have listed some cheapest ways to accept credit card payment for your business.

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PayPal, the first of its kind, was the most revolutionary technologies in the world. It not only allowed you to quickly send and receive money from friends and family but also guaranteed that the money was much safer than many other options you could choose. PayPal has some reliable tools for billing, e-commerce, payment processing, and reporting, allowing you to accept payments for services and products without any problems.  It’s no secret that PayPal’s interface is still pretty durable. Quite a few other PayPal alternatives are available with lower rates, improved customer service, and even better interfaces. It provides a fully customizable checkout solution for your website. You can also add a PayPal button as a simplified checkout solution. PayPal also integrates with different e-commerce providers like Shopify, Big Commerce, Magneto, etc. which allows business created through these platforms to accept credit card payments at a lower rate. PayPal provides a PayPal Payment Standard for no monthly fee and PayPal Payment Pro for $30 per month. Online Payment processing fee for both accounts is 2.9% plus 30 cents.  


Stripe is probably one of the most popular payment solutions to accept online payments. E-commerce platform like Squarespace and Shopify has been working with Stripe for a long time. It is designed to accept complex payment situations like recurring payments, subscriptions, etc. If you are looking for a custom solution for your business, Stripe is the right choice. It allows you to add a “Pay with Card” option on your website. It can be integrated with your website by writing just a single line of code. Several other platforms have plug-ins or extensions that create a Stripe Checkout. It doesn’t have any monthly, or start-up or registration or cancellation fee. The price of installing Stripe payment is also 2.9% plus 30 cents.


Shopify is a popular e-commerce platform which is convenient for small, medium, and large businesses. It has an inbuilt payment processing that accepts all major credit cards. It is an ideal choice for e-commerce platform since it combines payment processing with other e-commerce features like inventory management, shipping solutions, etc. It also provides a 14-day trial for its users to test with their store before committing to a long-term plan. You can activate Shopify payment by providing Employer Identification Number, banking information, and some other required information in the ‘Payment providers’ option in the settings. You can also choose some third-party payment gateway if you do not wish to choose Shopify payment. However, Shopify charges some additional transaction fee for adding a third-party payment gateway. Depending on the plan you choose, the monthly rate varies from $29 to $299. Shopify payment fee for accepting online credit cards vary from 2.9% plus 20 cents to 2.4% plus 30 cents.


It is very simple to accept credit card payment through 2Checkout. All you need to do it is sign up and complete the necessary steps. At registration, it will ask you to enter your username, email address, website, password, and country. Once registered, you will receive an application for approval. It’s really not that difficult, but you need to fill in the country in which you work, as well as some other personal data. For example, they will ask for information about the business, industry, address, legal registration, company owners and some information regarding the reimbursement and privacy policies of your businesses. After filling out the application, click on the ‘Apply Now’ button on the screen. It usually takes about 24 hours for 2checkout to reply. If everything is complete, they must send you an email about the status of your application, and you can also go to your dashboard to find out if you are approved for sale and collect payments. If you’re successful, you’ll see ‘Approved to Sell’ and ‘Eligible for Payment’ in green. Accepting credit card payments from 2Checkout is as simple as through other payments services. The pricing of 2Checkout is, however, higher than others. It varies from 3.5% plus 0.30 Euro to 6.0% plus 0.50 Euro.

With the growing numbers of payment gateways, accepting credit card payment has become much easier. It is advised to choose a payment gateway that supports your business.

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I'm Nancy, live is Gavá, Cataluna, Spain. I am a passionate tech blogger and a professional electrical engineer. We are professional helpers. Basically, we blog about the solutions of frequently asked questions. You can contact us on the below-provided information, You ask about whatever problems you’re facing and we will reach out to you and answer your queries through further blogs.

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