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 10 | Best Payment Processing Software: User Reviews from September 2026

Chaser

Automate and streamline your accounts receivable process. Improve cash flow visibility. Get visibility over every debtor interaction and easily forecast cash flow with customizable overviews. Reduce days sales outstanding. Maintain strong customer relationships. Winner of Best Technology Provider at the Credit Strategy Awards (2024), Management Today Best Use of Innovation (2023), and CICM British Credit Awards B2B Supplier of the Year (2022). Chaser users: - Get invoices paid 54+ days sooner - Save 15+ hours per week on accounts receivable tasks - Reduce days sales outstanding by 75%+ - Grow fearlessly with predictable cash flow - Maintain strong customer relationships Track and manage every interaction in one place - Gain complete visibility with all debtor communications, replies, and call notes logged automatically - See a full communication history for every invoice and every customer - Log communications in your CRM automatically with integrations for HubSpot, Salesforce, Zoho, and more - Record and store debtor phone calls directly in Chaser, set reminders, and assign follow-up tasks to your team Automate without losing the human touch - Send personalized reminders from your own email address, complete with your usual signature and branding - Use AI to instantly draft professional replies in your tone of voice - Customize templates to match your business style for consistent communication Grow confidently with customizable cash flow visibility - View automatic cash flow predictions from your accounting system data and debtor payment behavior - Reflect your business reality with full flexibility in overrides and anomalies - Save time building forecasts from scratch, and avoid using rigid automated tools Optimize your collections approach - Segment debtors into unlimited workflows based on factors like payment behavior, risk level, or language - Automate reminders across your chosen schedule and escalation paths - Escalate senders automatically to more senior contacts when payments are overdue - Avoid chasing outside working hours, on weekends, or on bank holidays - Gain ongoing insights from credit checks, monitoring, and AI debtor insights so you know which accounts to prioritize Encourage faster payment - Give customers a secure Payment Portal linked in every reminder, offering multiple payment options - Offer flexible installment plans to suit customer needs - Incentivize prompt payment with early payment discounts and apply late fees automatically where needed Use multiple follow-up channels for maximum reach - Send reminders via email, SMS, letters, and automated debtor phone calls to ensure messages are received - Include secure payment portal links and QR codes in all reminders to make paying as easy as possible - Maintain a consistent, professional tone across every channel to strengthen relationships and improve results Seamlessly connected to your existing systems - Connect Chaser to any accounting software, ERP or CRM with a range of integration options - Ensure you never follow-up with debtors incorrectly, with data-syncs every hour, on-demand when you request them, and before any communication is sent

Average Rating: 4.3/5.0

Total Reviews: 70

How Do G2 Users Rate Chaser?

Has the product been a good partner in doing business?: 9.3/10 (Category avg: 8.8/10)
Self Service Portal: 8.3/10 (Category avg: 8.6/10)
Level 3: 7.5/10 (Category avg: 7.8/10)
Accounting integration: 9.2/10 (Category avg: 8.4/10)

Who Is the Company Behind Chaser?

Seller: Chaser
Company Website:
Year Founded: 2013
HQ Location: London, GB
Twitter: @chaser_hq
3,090 Twitter followers
LinkedIn® Page: www.linkedin.com
37 employees on LinkedIn®

Who Uses This Product?

Who Uses This: Director, Managing Director
Top Industries: Accounting, Construction
Company Size: 71% Small, 19% Medium

What Do G2 Reviewers Say About Chaser?

AI-generated summary from verified user reviews

Pros

Users love the automation with Chaser, streamlining payment reminders and enhancing cash flow management effortlessly.
Users praise Chaser for its ease of use, highlighting seamless integration and efficient invoice management capabilities.
Users value Chaser for its collections efficiency, streamlining invoice management and automating follow-ups while enhancing cash flow.
Users value the helpful customer support during setup, enhancing the overall experience with Chaser.
Users highly value Chaser’s time-saving efficiency through automated, friendly invoice reminders that enhance cash flow management.

Cons

Users find the email functionality confusing due to double reminders and decreased authenticity from modified sender information.
Users express concern over email issues, noting confusion from multiple daily reminders and a decrease in authenticity of sender information.
Users find the email notifications overwhelming, wishing for fewer reminders and improved authenticity in sender information.
Users report email automation issues with Chaser, such as bounced emails and less authentic sender information impacting responses.
Users express a need for enhanced reporting features as current options feel inadequate for tailored insights.

What Are Recent G2 Reviews of Chaser?

"Streamlined Automated Chaser Emails in One Place"

Rating: 5.0/5.0 stars

— Emma B.

Best Payment Processing Software - Page 10

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Category Stats (Sep 2026)

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