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 13 | Best Payment Processing Software: User Reviews from November 2026

Marqeta

Marqeta is the modern card issuing platform empowering builders to bring the most innovative products to the world. Marqeta provides developers advanced infrastructure and tools for building highly configurable payment cards. With its open APIs, the Marqeta platform is designed for businesses who want to easily build tailored payment solutions to create best-in-class experiences and power new modes of money movement. Marqeta built its simple, trusted, and scalable platform from the ground up to help companies design seamless payment experiences, streamline purchase flows, and bring products to market faster, while minimizing fraud risk. Marqeta’s payment APIs enable: - Card issuing: Instant issuance of physical, virtual, and tokenized cards with direct provisioning to digital wallets - Card processing: Real-time funding using our Just-in-Time (JIT) Funding feature with dynamic spend controls to reduce fraud - Card applications: A suite of applications and tools that help you build, manage, and run your card program - Modern architecture: Developer-friendly, modern open APIs, cloud infrastructure and webhooks

Average Rating: 4.4/5.0

Total Reviews: 5

How Do G2 Users Rate Marqeta?

Has the product been a good partner in doing business?: 10.0/10 (Category avg: 8.8/10)
Self Service Portal: 8.3/10 (Category avg: 8.6/10)
Level 3: 8.3/10 (Category avg: 7.8/10)
Accounting integration: 7.5/10 (Category avg: 8.4/10)

Who Is the Company Behind Marqeta?

Seller: Marqeta
Year Founded: 2010
HQ Location: Oakland, California, United States
LinkedIn® Page: www.linkedin.com
1,053 employees on LinkedIn®
Ownership: NASDAQ: MQ

Who Uses This Product?

Company Size: 40% Medium, 40% Small

What Do G2 Reviewers Say About Marqeta?

AI-generated summary from verified user reviews

Pros

Users value the time-saving features of Marqeta, enabling quick control over card issuance and payments.
Users appreciate the incredible customization of Marqeta, enabling complete control over payment card processes and settings.
Users find the ease of use in card issuing and payments with Marqeta to be highly beneficial and flexible.
Users value the easy and flexible card issuing and payment options provided by Marqeta, enhancing their transaction experience.
Users value the efficiency of Marqeta for its ease and flexibility in card issuing and payment processes.

Cons

Users find the setup complex if unfamiliar with APIs or developer tools, impacting overall usability.
Users find the setup can feel complex without prior knowledge of APIs or developer tools.

What Are Recent G2 Reviews of Marqeta?

"Perfectly aligned with our specific business needs"

Rating: 4.0/5.0 stars

— Ahmed S.

Best Payment Processing Software - Page 13

How Many Payment Processing Software Products Does G2 Track?

Category Stats (Nov 2026)

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G2 Grid® for Payment Processing Software

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