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

Spreedly

Spreedly is a Payments Orchestration platform. Organizations rapidly growing, entering new markets, seeking to limit their compliance burden, or to lower payments costs often find that they can’t adapt their infrastructure to accept payments the way their business requires. Our Payments Orchestration platform enables payments flexibility and redundancy by allowing customers to build one integration and then route transactions through virtually any combination of payment services without ever touching end-consumer card data. We offer a powerful payments infrastructure called Payments Orchestration which enables companies of all sizes to secure payments data to transact with virtually any payment service globally, via one API, and to increase ROI from each transaction.

Average Rating: 4.4/5.0

Total Reviews: 34

How Do G2 Users Rate Spreedly?

Has the product been a good partner in doing business?: 9.5/10 (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: 8.3/10 (Category avg: 8.4/10)

Who Is the Company Behind Spreedly?

Seller: Spreedly
Year Founded: 2008
HQ Location: Durham, NC
LinkedIn® Page: www.linkedin.com
144 employees on LinkedIn®

Who Uses This Product?

Top Industries: Computer Software, Financial Services
Company Size: 54% Medium, 40% Small

What Do G2 Reviewers Say About Spreedly?

AI-generated summary from verified user reviews

Pros

Users value the centralized vault functionality of Spreedly, ensuring reliable payment processing across multiple gateways.
Users value the excellent customer support from Spreedly, enhancing their experience with centralized payment processing.
Users appreciate the easy integrations of Spreedly, benefiting from its reliable and performance-driven payment orchestration layer.
Users appreciate the efficiency of Spreedly, noting its reliable performance and seamless integration with systems.
Users value the centralized vault of Spreedly, enhancing their payment processing across multiple gateways with excellent support.

Cons

Users highlight Spreedly's high costs and sudden price increases as significant risks for businesses with tight margins.
Users warn about excessive fees from Spreedly, highlighting drastic price increases that jeopardize financial stability and planning.
Users are alarmed by Spreedly's drastic fee increase, which tripled costs unexpectedly, causing financial and operational concerns.
Users are concerned about Spreedly's high fees, especially after unexpected increases that jeopardize financial planning.
Users find the dashboard UI slow, impacting efficiency and potentially complicating high-volume transaction management.

What Are Recent G2 Reviews of Spreedly?

"Powerful Centralized Vault for Managing 100+ Gateways"

Rating: 5.0/5.0 stars

— Chris L.

Best Payment Processing Software - Page 7

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Category Stats (Sep 2026)

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G2 Grid® for Payment Processing Software

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