# Best Payment Processing Software - Page 16 *By [Subhransu Sahu](https://research.g2.com/insights/author/subhransu-sahu)* Payment processing software helps businesses securely handle and track business-to-business (B2B) payments from customers and to suppliers. It supports any organization that accepts non-cash payments by ensuring transactions are timely, accurate, and integrated with downstream financial systems. ### Core Capabilities of Payment Processing Software To qualify for inclusion in the Payment Processing category, a product must: - Collect customer payment information and relay it to a bank for approval or denial - Transmit approval or denial of a transaction back to the customer or merchant - Support multiple payment methods such as credit card, ACH, or wire transfer - Define and track customizable payment rules, terms, and deadlines - Identify errors such as late payments, overpayments, or failed transactions - Integrate with ERP, accounting, or accounts receivable and accounts payable systems ### How Payment Processing Software Differs from Other Tools Payment processing software focuses on secure transaction handling and status verification, working closely with related tools such as [payment gateways](https://www.g2.com/categories/payment-gateways), [accounting software](https://www.g2.com/categories/accounting), [AP automation software](https://www.g2.com/categories/ap-automation), [e-commerce platforms](https://www.g2.com/categories/e-commerce-platforms), and [retail POS systems](https://www.g2.com/categories/retail-pos). Its distinguishing value lies in managing payment execution and error identification across diverse payment methods. ### Insights from G2 on Payment Processing Software Based on category trends on G2, the importance of reliable transaction approval, seamless integrations, and accurate detection of payment issues to maintain smooth financial operations. ## Best Payment Processing Software At A Glance - **Leader:** [PayPal Payments](https://www.g2.com/products/paypal/reviews) - **Highest Performer:** [Skyline Payments](https://www.g2.com/products/skyline-payments/reviews) - **Easiest to Use:** [Nickel](https://www.g2.com/products/nickel/reviews) - **Top Trending:** [Nickel](https://www.g2.com/products/nickel/reviews) - **Best Free Software:** [BILL AP/AR](https://www.g2.com/products/bill-ap-ar/reviews) --- **Sponsored** ### 8am CPACharge 8am CPACharge is trusted by the AICPA, 35+ state CPA societies and more than 150,000 professionals as the best payment solution for CPAs, Enrolled Agents and Accountants—providing a simple, secure way for accounting firms to accept client credit, debit, and eCheck payments from anywhere at anytime. With next-day payments, you can keep cash flow predictable and your firm moving forward without delays. [Book a Demo](https://www.g2.com/external_clickthroughs/record?secure%5Bad_program%5D=ppc&secure%5Bad_slot%5D=category_product_list&secure%5Bcategory_id%5D=1975&secure%5Bdisplayable_resource_id%5D=1975&secure%5Bdisplayable_resource_type%5D=Category&secure%5Bmedium%5D=sponsored&secure%5Bplacement_reason%5D=page_category&secure%5Bplacement_resource_ids%5D%5B%5D=1975&secure%5Bprioritized%5D=false&secure%5Bproduct_id%5D=113232&secure%5Bresource_id%5D=1975&secure%5Bresource_type%5D=Category&secure%5Bsource_type%5D=category_page&secure%5Bsource_url%5D=https%3A%2F%2Fwww.g2.com%2Fcategories%2Fpayment-processing%3Flocale%3Des%26page%3D16&secure%5Btoken%5D=89a6a17d9a67bfae7d6e3115bce5751fd2408a752bba6f3d0eb00554a646e671&secure%5Burl%5D=https%3A%2F%2Fwww.8am.com%2Flanding%2Fcpacharge%2F%3Futm_campaign%3Dcpa-evergreen-g2clicks%26utm_medium%3Dreview%26utm_source%3Dg2&secure%5Burl_type%5D=book_demo) --- ## Top-Rated Products (Ranked by G2 Score) ### 1. [iQPro+](https://www.g2.com/products/iqpro/reviews) At Basys, we combine powerful payment technology with human-first service, so you’re never left navigating payments alone. Whether you’re a bank, software partner or business owner, we deliver integrated payment solutions built to fit your needs and backed by people who care. Because to us, it’s not just about processing payments. It’s about helping you grow. **Seller Details:** - **Seller:** [Basys Processing](https://www.g2.com/sellers/basys-processing) - **Year Founded:** 2002 - **HQ Location:** Lenexa, US - **LinkedIn® Page:** https://www.linkedin.com/company/basyspayments/ (222 employees on LinkedIn®) ### 2. [Iron Rock Payments](https://www.g2.com/products/iron-rock-payments/reviews) Credit Card Processing company **Seller Details:** - **Seller:** [Iron Rock Payments](https://www.g2.com/sellers/iron-rock-payments) - **HQ Location:** N/A - **LinkedIn® Page:** https://www.linkedin.com/company/No-Linkedin-Presence-Added-Intentionally-By-DataOps (1 employees on LinkedIn®) ### 3. [IXOPAY](https://www.g2.com/products/ixopay/reviews) IXOPAY is a highly scalable and PCI-certified payment management platform for White Label Clients and Enterprise Merchants. The modern, easily extendable architecture enables the orchestration of payments, provides intelligent routing and cascading functions as well as state-of-the-art risk management, automated reconciliation and settlements along with plugin-based integration of Acquirers and Payment Service Providers. IXOPAY is part of the IXOLIT Group, which was founded in 2001 and maintains national and international e-commerce customers from Vienna, Austria, and Florida, US. The owner-managed and financed company has grown from a two-person team to an IT specialist with over 60 experts developing innovative solutions and products in the heart of Vienna. **Seller Details:** - **Seller:** [TokenEx](https://www.g2.com/sellers/tokenex) - **Year Founded:** 2010 - **HQ Location:** Edmond, Oklahoma - **Twitter:** @TokenEx (1,209 Twitter followers) - **LinkedIn® Page:** https://www.linkedin.com/company/1614702/ (22 employees on LinkedIn®) ### 4. [Jumbula](https://www.g2.com/products/jumbula/reviews) Jumbula is an innovative provider of online registration, payment, and class/camp management systems designed to streamline the administrative tasks for programs ranging from after-school activities to sports camps and beyond. This solution is tailored to enhance the operational efficiency of educational and recreational programs, offering a comprehensive suite of tools that meet the unique needs of business owners, program operators, and instructors. The primary target audience for Jumbula includes educational institutions, recreational centers, and independent program operators who require a user-friendly platform to manage their activities. With its robust features, Jumbula caters to a variety of use cases, such as simplifying the enrollment process for parents, managing class schedules, and facilitating secure payment processing. This versatility makes it an essential tool for organizations looking to optimize their administrative workflows while providing a seamless experience for their clients. Key features of Jumbula include an online registration system that simplifies the enrollment process with customizable forms and real-time class availability updates. This ensures that parents can easily register their children for activities without the hassle of paper forms or manual tracking. The secure online payment gateway further enhances the user experience by offering flexible payment plans and automated billing, allowing organizations to manage their finances efficiently. In addition to registration and payment processing, Jumbula provides comprehensive class and camp management tools. Users can create and manage schedules, track attendance, and communicate effectively with staff members. This functionality not only improves organizational efficiency but also fosters better engagement between instructors and participants. The platform also features a user-friendly parent portal that keeps families informed with instant notifications and detailed progress tracking, enhancing the overall experience for both parents and students. Moreover, Jumbula supports business management through comprehensive reporting and analytics, enabling organizations to make data-driven decisions. Marketing and promotion tools are integrated into the platform, allowing users to reach their target audience effectively. Additionally, Jumbula's ability to integrate with third-party applications ensures that organizations can customize their operational processes to fit their specific needs, making it a versatile solution in the realm of class and camp management. **Average Rating:** 3.8/5.0 **Total Reviews:** 2 **User Satisfaction Scores:** - **Has the product been a good partner in doing business?:** 8.3/10 (Category avg: 8.8/10) **Seller Details:** - **Seller:** [Jumbula](https://www.g2.com/sellers/jumbula) - **Year Founded:** 2013 - **HQ Location:** San Mateo, US - **Twitter:** @jumbulame (38 Twitter followers) - **LinkedIn® Page:** https://www.linkedin.com/company/jumbula/ (26 employees on LinkedIn®) **Reviewer Demographics:** - **Company Size:** 100% Small-Business ### 5. [Jupiter Money](https://www.g2.com/products/jupiter-money-jupiter-money/reviews) Get a free HRMS, discounted health insurance and 0-interest loans for employees. **Seller Details:** - **Seller:** [Jupiter Money](https://www.g2.com/sellers/jupiter-money) - **HQ Location:** N/A - **LinkedIn® Page:** https://www.linkedin.com/company/No-Linkedin-Presence-Added-Intentionally-By-DataOps (1 employees on LinkedIn®) ### 6. [Kade Pay](https://www.g2.com/products/kade-pay/reviews) Kade Pay is a powerful payment processing platform that simplifies financial transactions for businesses of all sizes. With an intuitive interface and advanced features, Kade Pay offers merchants the tools they need to securely process payments, manage subscriptions, and gain valuable insights into their sales performance. Whether you're looking to streamline your billing process or enhance your customer experience, Kade Pay is the ideal payment solution for businesses that want to grow and succeed in today's competitive marketplace. ● Contactless ● Lowest Fee in the Market ● Accept all types of payment and electronic wallets ● Your receipts are always available On your phone. ● Easily share and split the bill with anyone (even remotely). ● No signature required. **Seller Details:** - **Seller:** [Kade Pay](https://www.g2.com/sellers/kade-pay) - **HQ Location:** N/A - **LinkedIn® Page:** https://www.linkedin.com/company/No-Linkedin-Presence-Added-Intentionally-By-DataOps (1 employees on LinkedIn®) ### 7. [Kanoo](https://www.g2.com/products/kanoo/reviews) CaribPay (Bahamas) Ltd., trading as Kanoo is licensed by the Central Bank of The Bahamas as a “Non-Bank Electronic Retail Payment Institution.” Kanoo is the newest digital wallet of The Bahamas. Our name, Kanoo, is a derivative of Junkanoo, the country’s most prominent cultural expression. Kanoo’s bold, colorful, and energetic approach centers around freedom and empowerment, a true embodiment of Junkanoo. Kanoo is committed to making life better for Bahamians by allowing them to handle money at the Speed of Life. We value bringing security, prosperity, empowerment, and convenience to our users. Now, merchants and consumers have the power to control their money and time, pay, and get paid any way they want. **Seller Details:** - **Seller:** [Kanoo](https://www.g2.com/sellers/kanoo) - **Year Founded:** 2019 - **HQ Location:** Grand Bahama, BS - **Twitter:** @KanooPays (253 Twitter followers) - **LinkedIn® Page:** http://www.linkedin.com/company/kanoo-pays (20 employees on LinkedIn®) ### 8. [Leatherback](https://www.g2.com/products/leatherback/reviews) We are committed to making cross-border trade easier for individuals and businesses across the globe. Leatherback moves your money where it needs to be working without trouble. Anytime, Anywhere, and to almost Everywhere We are building products to give you all you need to offer your goods and services in different countries abroad without hefty transactional charges – regardless of where your business is located. **Seller Details:** - **Seller:** [Leatherback](https://www.g2.com/sellers/leatherback) - **Year Founded:** 2019 - **HQ Location:** London, GB - **LinkedIn® Page:** https://www.linkedin.com/company/leatherback/ (93 employees on LinkedIn®) ### 9. [linked2pay](https://www.g2.com/products/linked2pay/reviews) Our award-winning payments technology platform provides omnichannel payment solutions including online, mobile, in-person, e-commerce, text, email, pay by phone (IVR) and virtual terminal acceptance of credit card, EBT and ACH payments. We pioneered Instant Merchant Settlement providing access to funds more quickly for merchants. In addition, we provide B2B payment solutions and APIs for seamless payment integration. We have a robust, lucrative reseller program providing white-label options and full transparency to customer information and reporting. **Seller Details:** - **Seller:** [transmodus](https://www.g2.com/sellers/transmodus) - **Year Founded:** 2002 - **HQ Location:** Oxnard, US - **LinkedIn® Page:** https://www.linkedin.com/company/transmodus (30 employees on LinkedIn®) ### 10. [Linvio PaymentConnect](https://www.g2.com/products/linvio-paymentconnect/reviews) Linvio PaymentConnect™ is a premier native payment management framework designed for Salesforce, enabling businesses to process credit card payments, hosted web payments, refunds, and manual check or money order transactions directly within the Salesforce environment. By integrating with leading payment gateways such as Stripe, Braintree, PayPal, and Authorize.Net, PaymentConnect transforms Salesforce into a robust eCommerce platform, streamlining and automating lead-to-cash business processes. Key Features and Functionality: - Virtual Terminals: Leverage Salesforce's built-in features like reporting, workflow rules, and process builder to maximize data utilization and PaymentConnect functionality. - Salesforce Communities Integration: Utilize reusable Visualforce pages and components to configure public sites and Salesforce communities with standard portal features, online checkout, and management of stored payment methods. - Workflow & Batch Automation: Automate post-payment tasks such as receipts, order management, and fulfillment using status changes and "on-payment-completed" tags. Built-in batch processing allows for scheduled transactions using stored payment methods. - Supported Processors: Securely process credit card and ACH transactions within Salesforce using gateways like Authorize.Net, ACHWorks, Braintree, CyberSource, eWay, PayPal, Stripe, TouchNet, and WorldPay. - 100% Native and Lightning Ready: As a native Salesforce application, PaymentConnect utilizes Salesforce's features and offers a flexible user interface compatible with the Lightning Experience UI. Primary Value and User Solutions: Linvio PaymentConnect addresses the need for seamless payment processing within Salesforce, eliminating the need for external systems. It enhances operational efficiency by automating payment workflows, supports various payment methods, and integrates with top payment processors. This comprehensive solution empowers businesses to manage their payment processes effectively, ensuring a streamlined and secure transaction experience for both the organization and its customers. **Seller Details:** - **Seller:** [Linvio](https://www.g2.com/sellers/linvio) - **Year Founded:** 2008 - **HQ Location:** San Diego , US - **Twitter:** @Linvio (177 Twitter followers) - **LinkedIn® Page:** https://www.linkedin.com/company/1607218 (20 employees on LinkedIn®) ### 11. [Linxo connect](https://www.g2.com/products/linxo-connect/reviews) The solution Linxo Connect Payments is a payment solution through automated bank transfer. It is a payment method that businesses can implement to offer their customers an optimal payment experience (no IBAN or completion, and no impact on the credit card limit). The main benefits of Linxo Connect Payments : 1. +30% to 40% increase in conversion rates 2. Irrevocable transfer, funds received in less than 10 seconds 3. 0 bank commission rate 4. Automatic and immediate back-office reconciliation with the transaction description. 5. Easy payment process (no labels, amount, or IBAN to be entered by the customer) 6. Secure payment (strong authentication from the payer's bank) **Seller Details:** - **Seller:** [Linxo Connect](https://www.g2.com/sellers/linxo-connect) - **HQ Location:** Paris, FR - **LinkedIn® Page:** https://www.linkedin.com/showcase/linxo-connect/about/ ### 12. [Liqpay](https://www.g2.com/products/liqpay/reviews) LiqPay is a web-interface of PrivatBank with which the card holders of Mastercard / VISA from around the world can pay for goods / services on your site, as well as send money from card to card. **Seller Details:** - **Seller:** [Liqpay](https://www.g2.com/sellers/liqpay) - **HQ Location:** N/A - **LinkedIn® Page:** https://www.linkedin.com/company/No-Linkedin-Presence-Added-Intentionally-By-DataOps (1 employees on LinkedIn®) ### 13. [Loomis Pay](https://www.g2.com/products/loomis-pay/reviews) Loomis Pay is the all-in-one payment solution designed to help businesses sell more, get paid faster, and simplify revenue management. We offer a complete platform that combines modern payment terminals, smart management software, and efficient financial services. Why choose Loomis Pay? 🔹 Hassle-free payments: Accept cards, mobile payments, and contactless transactions with intuitive, secure terminals. 🔹 Instant liquidity: Get your funds quickly and directly, with no unnecessary delays. 🔹 Centralized management: Monitor your sales, transactions, and cash flow in real time from one simple dashboard. 🔹 Professional support: We handle installation, maintenance, and technical assistance so you can focus on running your business. 🔹 Guaranteed savings: Transparent, competitive pricing with no hidden fees or surprises. Loomis Pay is more than a payment system—it's a strategic partner for your business. **Seller Details:** - **Seller:** [Loomis Pay](https://www.g2.com/sellers/loomis-pay) - **Year Founded:** 2020 - **HQ Location:** STOCKHOLM, SE - **LinkedIn® Page:** https://www.linkedin.com/company/loomispay/ (83 employees on LinkedIn®) ### 14. [Lydia Pro](https://www.g2.com/products/lydia-pro/reviews) Lydia is a multi-platform app that enables effortless payments. **Seller Details:** - **Seller:** [Lydia](https://www.g2.com/sellers/lydia) - **HQ Location:** N/A - **LinkedIn® Page:** https://www.linkedin.com/company/No-Linkedin-Presence-Added-Intentionally-By-DataOps (1 employees on LinkedIn®) ### 15. [Lynk](https://www.g2.com/products/lynk-lynk/reviews) Establishing a payment platform is one of the biggest cost and time expenditures for any company, especially startups. At Lynk, we are out to change that. Built specifically for small-to-medium-sized marketplace and gig economy companies, our branded payment platform can be set up in days, not months, without any development time or upfront costs and reduces credit card processing fees by up 90% all while building customer loyalty. **Seller Details:** - **Seller:** [Lynk](https://www.g2.com/sellers/lynk) - **HQ Location:** N/A - **LinkedIn® Page:** https://www.linkedin.com/company/No-Linkedin-Presence-Added-Intentionally-By-DataOps (1 employees on LinkedIn®) ### 16. [Maroo](https://www.g2.com/products/maroo/reviews) Maroo is a comprehensive business management platform tailored for the weddings and events industry, designed to streamline operations for professionals such as photographers, planners, venues, and caterers. By integrating client relationship management (CRM), contracts, invoicing, and payment processing into a single, user-friendly interface, Maroo enables businesses to manage their workflows efficiently and focus more on delivering exceptional services to their clients. Key Features and Functionality: - Leads & CRM: Automatically capture inquiries from your website, track client interactions, and manage leads through a centralized pipeline, facilitating seamless conversion from prospects to booked clients. - Quotes and Proposals: Generate professional, branded quotes and proposals in minutes, allowing clients to approve services with a single click. - Contracts: Create and send digital contracts for e-signature, ensuring secure and efficient agreement processes. - Invoicing: Issue customized invoices with flexible payment schedules, accept various payment methods—including credit/debit cards and ACH transfers—and set up automatic reminders to ensure timely payments. - Payments: Process client payments swiftly, with funds deposited into your account within 1-2 business days, and manage outgoing payments to freelancers or suppliers with free ACH transfers. - Accounting Integration: Seamlessly sync transactions with accounting software like QuickBooks Online, automating bookkeeping tasks and maintaining accurate financial records. - Tax Management: Simplify tax preparation by tracking taxable income and generating necessary tax forms, such as 1099-NEC, directly from the platform. Primary Value and Solutions Provided: Maroo addresses the unique challenges faced by wedding and event professionals by offering an all-in-one solution that consolidates essential business functions. By eliminating the need for multiple disparate tools, Maroo reduces administrative burdens, minimizes errors, and enhances client satisfaction through streamlined processes. The platform's ability to pass processing fees to clients ensures businesses retain their full earnings, while its intuitive design allows for quick setup without the need for expensive consultants. Ultimately, Maroo empowers professionals to reclaim valuable time, focus on their craft, and grow their businesses with confidence. **Seller Details:** - **Seller:** [Maroo](https://www.g2.com/sellers/maroo) - **Year Founded:** 2020 - **HQ Location:** New York, US - **LinkedIn® Page:** https://www.linkedin.com/company/marooinc/ (23 employees on LinkedIn®) ### 17. [Mesh Pay](https://www.g2.com/products/mesh-pay/reviews) Mesh coordinates the complex: a platform for easy crypto payment across hundreds of exchanges, wallets and providers. **Seller Details:** - **Seller:** [Mesh](https://www.g2.com/sellers/mesh-ea19d546-ce44-45d8-a47c-912e75720217) - **Year Founded:** 2020 - **HQ Location:** San Francisco, US - **LinkedIn® Page:** https://www.linkedin.com/company/meshconnectapi (119 employees on LinkedIn®) ### 18. [Mobiquity® Pay](https://www.g2.com/products/mobiquity-pay/reviews) Focused on Innovation. Comviva’s mobiquity® Pay is a versatile digital payments solution, with over 60 deployments in 45 countries. It offers cutting-edge features for mobile money, digital wallets, and online payments, empowering secure transactions and enhancing user experiences to drive financial inclusion. **Seller Details:** - **Seller:** [Comviva](https://www.g2.com/sellers/comviva) - **HQ Location:** Gurgaon, IN - **LinkedIn® Page:** https://www.linkedin.com/company/mahindra-comviva (3,270 employees on LinkedIn®) ### 19. [Moneris GO](https://www.g2.com/products/moneris-go/reviews) Moneris Go is an all-in-one debit and credit card solution that combines flexible functionality, comprehensive reporting and more inside a stylish package with a price you’ll love. **Seller Details:** - **Seller:** [Moneris](https://www.g2.com/sellers/moneris) - **Year Founded:** 2000 - **HQ Location:** Toronto, CA - **Twitter:** @Moneris (12,524 Twitter followers) - **LinkedIn® Page:** https://www.linkedin.com/company/moneris-solutions/ (2,218 employees on LinkedIn®) ### 20. [Moneta Technologies](https://www.g2.com/products/moneta-technologies/reviews) Moneta – Process e-payments through a gateway aggregator for Nigeria Use one simple Integration to securely process and collect payments from multiple gateways incl. NIBBS, remita, Interswitch, e-tranzact, paystack and flutterwave. **Seller Details:** - **Seller:** [Moneta](https://www.g2.com/sellers/moneta) - **HQ Location:** N/A - **LinkedIn® Page:** https://www.linkedin.com/company/No-Linkedin-Presence-Added-Intentionally-By-DataOps (1 employees on LinkedIn®) ### 21. [Monoova](https://www.g2.com/products/monoova-monoova/reviews) Taking the friction out of payments, delivering speed and automation, Monoova is a leading payment service provider. In addion to traditional account-to-account payments, we specialise in real-time transactions that deliver faster cashflow for your business and a better experience for your customers. Speak to Monoova and find out how you can recieve, manage and pay, from one provider, with one API. **Seller Details:** - **Seller:** [Monoova](https://www.g2.com/sellers/monoova) - **Year Founded:** 2017 - **HQ Location:** Sydney, AU - **LinkedIn® Page:** https://www.linkedin.com/company/monoova (80 employees on LinkedIn®) ### 22. [Mula](https://www.g2.com/products/mula/reviews) Mula is the ultimate payments platform in Africa built to facilitate simple, fast and secure payments between all people and businesses. Built on the foundation of simplicity giving incredibly fast and easy access to secure payments for everything one could want. **Seller Details:** - **Seller:** [Cellulant](https://www.g2.com/sellers/cellulant) - **Year Founded:** 2004 - **HQ Location:** Nairobi, KE - **Twitter:** @Cellulant (8,580 Twitter followers) - **LinkedIn® Page:** https://www.linkedin.com/company/cellulant/ (545 employees on LinkedIn®) ### 23. [MuliPay](https://www.g2.com/products/mulipay/reviews) MuliPay is a cutting-edge payment solutions provider based in Australia, designed to streamline payment processes for businesses of all sizes. MuliPay offers a unified platform that simplifies accepting payments, managing billing and handling payouts. Businesses benefit from features like easy checkout, automated recurring payments and robust fraud prevention. The platform also includes a smart insights dashboard, customisable payment workflows and multiple payment options. With its flexible, API-powered system, MuliPay allows seamless integration and effortless embedding of payments into any business setup, fostering growth and innovation **Seller Details:** - **Seller:** [MuliPay](https://www.g2.com/sellers/mulipay) - **HQ Location:** Brisbane City, AU - **LinkedIn® Page:** https://www.linkedin.com/company/103757192 (1 employees on LinkedIn®) ### 24. [MyGuava Business](https://www.g2.com/products/myguava-business/reviews) MyGuava Business is an end-to-end business payments platform dedicated to helping businesses of all sizes expand their reach both locally and globally. Business accounts in +20, international and local transfers, corporate cards help you cover your daily expenses and streamline your daily business operations and keep your finances on track. Join us in redefining what's possible for your business! **Seller Details:** - **Seller:** [Guavapay](https://www.g2.com/sellers/guavapay) - **HQ Location:** London, GB - **LinkedIn® Page:** https://uk.linkedin.com/company/myguava (8 employees on LinkedIn®) ### 25. [Myuser](https://www.g2.com/products/myuser/reviews) Myuser initiates Fednow, Wire & Zelle Payments within your website for seamless transactions. **Seller Details:** - **Seller:** [Myuser](https://www.g2.com/sellers/myuser) - **HQ Location:** N/A - **LinkedIn® Page:** https://www.linkedin.com/company/myuserhq/ (1 employees on LinkedIn®) ## Parent Category [Payment Software](https://www.g2.com/categories/payment) ## Related Categories - [Payment Gateways](https://www.g2.com/categories/payment-gateways) - [Accounts Receivable Software](https://www.g2.com/categories/accounts-receivable) - [Enterprise Payment Software](https://www.g2.com/categories/enterprise-payment) --- ## Buyer Guide ### What You Should Know About Payment Processing Software ### 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. ### Payment Processing Software Features **Encryption —** Credit card and other payment information is extremely sensitive and must be protected from hackers and other threats. A good payment processor has strong encryption and likely more than one type of encryption to keep both customer and merchant data safe. If data is stolen the consequences can be dire for a business. **Reports and analytics —** Some payment processors provide regular reports based on activity. This helps financial management import payment into analytics software. Knowing how customers make payments and ensuring they match a business’ revenue is crucial. **Processing fees —** Many payment processors function by adding a small fee to each transaction. This is often a flat fee plus a percentage of the actual purchase. Some processors have different fee structures, but fees are nearly universal. Fee amounts vary slightly depending on the processor or based on the type of payment used. **E-commerce integration —** Payment processor integration into e-commerce stores creates a seamless experience for customers when shopping online. Shoppers input both their payment information and their shipping information at the same time, and the business receives payment and all relevant information to fulfill the order quickly. **POS integration —** For storefronts, payment processors integrated with a POS system create a seamless and quick checkout process so the stores receive payment on the spot and customers walk out with their purchase. **Payment methods —** More payment methods accepted by a payment processor, means more customers. This includes mobile payments and cryptocurrencies like Bitcoin. Many payment processors accept certain credit cards or work with specific currencies. #### Additional Payment Processing Features **E-signatures —** Some payment processors allow users to digitally sign (usually using a finger to write) their credit card purchase. This provides added security measures and prevents fraud. This is typically a feature of mobile and tablet-based POS systems integrated with a payment processor. E-commerce purchases do not typically require a signature because they cross-check billing addresses and the security code on the credit card. **Receipts —** Some POS systems generate digital or physical receipts. This allows both the merchant and the customer to maintain records. Online purchases use email receipts that can be printed if necessary. For in-store purchases, digital receipts can be emailed or texted. **Card readers —** For physical purchases using a credit card, a card reader is important for streamlining the process. It’s much faster to swipe a card or read the chip than manually input the credit card information. Many tablet-based POS systems have a stand that includes a card reader, but for those using a mobile phone, some kind of mobile reader is required. These may plug directly into the phone or connect via Bluetooth. ### Trends Related to Payment Processing Software **Mobile payments —** Today, many customers use their phones as their primary payment method. While there are some security risks and not all stores accept mobile payments, many customers will take advantage of this option. **Cryptocurrencies —** Businesses and customers alike are looking into the possibility of using cryptocurrencies, despite many issues. The added security is attractive across the board, but requires additional technology to be user-friendly. **Digital wallets —** Similar to mobile payments, digital wallets make it easier to pay without using a credit or debit card. These services send money between friends, but can easily send money to businesses as well. ### Software and Services Related to Payment Processing Software **Payment gateways —** [Payment gateways](https://www.g2.com/categories/payment-gateways) are the first step to using a payment processor since they collect and verify all the payment information. Some payment processors include a payment gateway, but many gateways work with a variety of unaffiliated processors. **E-commerce platforms —** [E-commerce platforms](https://www.g2.com/categories/e-commerce-platforms) require a payment processor to complete online purchases since cash is not possible. Some e-commerce platforms come with built-in payment gateways and processors, but some require choosing one to integrate with the e-commerce platform. A well-integrated payment gateway or payment processor creates a seamless purchasing experience for customers. **POS systems —** [POS systems](https://www.g2.com/categories/pos) require a payment processor to complete any transaction made using a credit or debit card. Some POS systems come with an integrated payment processor but can choose their own depending on the POS system they use. **Payment analytics —** [Payment analytics software](https://www.g2.com/categories/payment-analytics) integrates with payment gateways and payment processors to analyze payment data. These analytics provide real-time insight into business performance to make informed business decisions.