What is Payment Processing Software?

Payment processing software powers credit and debit card purchases. When customers make a purchase online, they enter their payment and shipping information into a payment gateway. The payment gateway gives that payment information to the payment processor, which then communicates with both the customer’s and merchant’s banks to complete the transaction. The transaction’s success or failure is reported back to the payment gateway and the customer. In a brick-and-mortar store, a customer’s credit or debit card is swiped into a point of sale (POS) system, which communicates with a payment processor to approve or deny the purchase. Many payment processors charge a fee for each transaction based on the size of the purchase. Some payment processors have an embedded payment gateway or POS system to create a seamless experience. Any time a credit or debit transaction is attempted, a payment processor is needed. With the rise of digital wallets, payment processors have expanded their functionality to include digital currency and the transfer of money from a source such as Venmo or PayPal to an e-commerce or brick-and-mortar store. Some can process an e-check or set up recurring payments. Key Benefits of Payment Processing Software Processing payments made by credit, debit, and gift cards as well as digital wallets Creating a seamless experience for customers Determining whether or not payment is valid before fulfilling an order or completing a transaction Communicating with a variety of banks to accept payment from anywhere in the world

Why Use Payment Processing Software?

Security — Payment information is extremely sensitive, so it needs protection. Payment processing software is held to high security standards to protect this sensitive information. Scalability — A small business can use the same payment processor as a large enterprise, with little difference in functionality. Payment processors operate behind the scenes, and companies pay fees to use them. If a small business picks the right payment processor when it starts out, it may never need to change payment processors as their needs increase. Some payment processors handle billing and invoicing, so some internal processes are covered. Flexibility — Most payment processors handle a wide variety of payments. All payment processors process credit and debit cards, but more are accepting payments from digital wallets, cryptocurrencies, and electronic checks. Some facilitate automatic payments to provide consumers and merchants an added convenience of regular payments. The more options provided to the consumer, the more opportunities a merchant has to make a sale, so it’s in a business’ best interest to utilize a payment processor with a variety of features.

Who Uses Payment Processing Software?

E-commerce businesses — E-commerce businesses rely on payment processing software because that is how they receive all payments. Payment processors integrate with the payment gateway an online business uses or the payment processor has its own payment gateway. Some e-commerce platforms have built-in gateways or processors, eliminating the need to choose a specific one.Because payment processors typically charge fees for each transaction, an e-commerce business needs to be mindful of the processor they choose because all their transactions are carried out by the payment processor. Brick-and-mortar businesses — Brick-and-mortar businesses use payment processors to process credit cards and other non-cash payments. Typically, a processor is integrated with the POS system used by the store, but an all-in-one POS system might include a payment processor. Since most shoppers use some kind of card to make purchases, a payment processor is a necessity. Business to business businesses — Every business collects payments in one form or another but businesses that cater to serving other businesses have a unique challenge. Some payment processors are equipped to accept e-checks and lines of credit, and integrate with billing and invoicing software to ensure payments are made and the proper documentation is created. Recurring and automatic payments are useful if a business functions on a subscription model.

Page 5 | Best Payment Processing Software: User Reviews from October 2026

Serrala

Serrala is the global market leader and innovator in finance process automation. Our award-winning suite of applications is the world’s only fully integrated and fully customizable AI finance automation portfolio. Our solutions give finance leaders the power to evolve, optimize their working capital and streamline all workflows, planning, and compliance, by automating all operational processes across Order to Cash, Procure to Pay, Cash Flow Management, and Treasury. Our AI-powered finance automation suite is trusted by thousands of organizations worldwide to gain real-time insights and create operational excellence through high performance engineering and seamless integration. Our solutions deploy as SAP-embedded extensions of ECC and S/4 HANA, or as cloud-native SaaS for any ERP. We’ve been advancing the office of the CFO for over 40 years with solutions that accelerate growth, enhance decision-making, and achieve sustainable finance success by eliminating obstacles to change like outdated manual processes, fragmented tech ecosystems, and poor data visibility and quality. With our help, our customers can apply breakthrough principles like AI to flexibly create a path to a proactive, strategic, and growth-generating finance function. And see results like: - 50% reductions to cost per invoice and 50%+ straight-through processing rates – even with invoice volumes in the millions. - 99% automation of cash application processes and 30% reductions to DSO via automated credit management and collections. - Full liquidity control and visibility across all global accounts and transactions – no matter how complex their architecture or compliance needs.

Average Rating: 4.4/5.0

Total Reviews: 118

How Do G2 Users Rate Serrala?

Has the product been a good partner in doing business?: 8.4/10 (Category avg: 8.8/10)
Self Service Portal: 5.8/10 (Category avg: 8.6/10)
Level 3: 6.1/10 (Category avg: 7.8/10)
Accounting integration: 9.0/10 (Category avg: 8.4/10)

Who Is the Company Behind Serrala?

Seller: Serrala
Company Website:
Year Founded: 1984
HQ Location: Norderstedt, DE
Twitter: @WeAreSerrala
677 Twitter followers
LinkedIn® Page: www.linkedin.com
821 employees on LinkedIn®

Who Uses This Product?

Top Industries: Accounting, Financial Services
Company Size: 48% Large, 28% Medium

What Do G2 Reviewers Say About Serrala?

AI-generated summary from verified user reviews

Pros

Users value the intuitive ease of use of Serrala, making implementation and training quick and efficient.
Users highlight the high automation rate of Serrala, significantly reducing manual work and improving efficiency.
Users commend the excellent customer support of Serrala, receiving timely responses and assistance during integration.
Users value the easy integrations of Serrala, enhancing efficiency and streamlining financial processes seamlessly.
Users praise Serrala for its automation efficiency, achieving a 98.5% cash allocation rate and reducing manual labor.

Cons

Users find the difficult setup of Serrala challenging, especially without a technical background for rule creation.
Users find that expertise is required to effectively create and update rules in Serrala's autobank feature.
Users find the learning curve steep for creating and updating rules in Serrala's autobank, especially without technical expertise.
Users find learning difficulty in creating and updating rules in Serrala, especially with limited technical knowledge.
Users find the setup difficulty in Serrala challenging, especially without a technical background for creating rules.

What Are Recent G2 Reviews of Serrala?

"Seamless SAP Integration and High Degree of Automation with FS² AutoBank"

Rating: 4.5/5.0 stars

— Susanne O.

Best Payment Processing Software - Page 5

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Category Stats (Oct 2026)

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G2 Grid® for Payment Processing Software

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