Best Payment Processing Software
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, accounting software, AP automation software, e-commerce platforms, and retail POS systems. Its distinguishing value lies in managing payment execution and error identification across diverse payment methods.
Insights from G2 Reviews on Payment Processing Software
According to G2 review data, users highlight the importance of reliable transaction approval, seamless integrations, and accurate detection of payment issues to maintain smooth financial operations.
Featured Payment Processing Software At A Glance
G2 takes pride in showing unbiased reviews on user satisfaction in our ratings and reports. We do not allow paid placements in any of our ratings, rankings, or reports. Learn about our scoring methodologies.
PayPal Payments is a comprehensive payment processing solution designed to empower businesses of all sizes to accept payments seamlessly from customers worldwide. By integrating PayPal Payments, merch
1,109,307 Twitter followers
Amazon Pay makes it simple for hundreds of millions of customers around the globe to pay for products and services using the information already stored in their Amazon accounts. It’s a familiar buying
5,911,640 Twitter followers
Venmo for Business is a mobile payment solution designed to help small businesses and entrepreneurs accept payments seamlessly through the Venmo app. By creating a business profile linked to their per
1,109,307 Twitter followers
BILL is a financial operations platform that provides intelligent accounts payable and accounts receivable automation for businesses. This software solution is designed to help small and midsize busin
BILL AP/AR is a platform that streamlines invoice approval, reconciliation, and payment processes, and integrates with accounting software like QuickBooks Online. Reviewers like the platform's user-friendly interface, its ability to automate and speed up the accounts payable process, and its seamless integration with QuickBooks Online. Reviewers mentioned issues with the platform's syncing capabilities, slow payment processing times, and difficulties with customer support and the initial setup process.
17,270 Twitter followers
Stripe’s Payments platform helps you accept credit cards, debit cards, and popular payment methods around the world. Our easy-to-use APIs, no-code payments options, and software solutions enable you t
274,310 Twitter followers
Nickel is a free integrated payments solution that lets businesses send and receive payments quickly and with the lowest possible fees. Nickel is the only truly transparent payment processor, with no
Nickel is a payment processing platform that allows businesses to handle transactions, including ACH payments, invoicing, and recurring obligations. Reviewers frequently mention the ease of use, seamless integration with QuickBooks, cost-effectiveness due to free ACH transactions, and responsive customer support as key benefits of using Nickel. Users mentioned some limitations such as the absence of a feature to schedule future payments, the inability for clients to download invoices before payment, and a somewhat long payment hold time.
Adyen is the financial technology platform of choice for top brands like Facebook, Uber, H&M, eBay, and Prada. It offers seamless payments across online, mobile, and in-person channels—all in
21,556 Twitter followers
FreshBooks is software that simplifies the complicated world of bookkeeping and accounting. With FreshBooks, you can run your billing, books, and payroll all from one platform—no complicated spreadshe
FreshBooks is an invoicing and expense tracking application designed for small teams and client-based work. Reviewers frequently mention the ease of use, the ability to manage taxes, the simplicity of creating and sending invoices, and the excellent customer support as standout features of FreshBooks. Reviewers noted limitations in reporting and customization, issues with the kilometer system, restrictions on the number of clients for small businesses, and the lack of offline access as areas for improvement.
28,141 Twitter followers
Thryv is an AI-powered marketing and sales platform built specifically for small businesses, helping you market smarter, sell more, and grow faster—all from one centralized solution. Designed to repla
Thryv is a business management tool that handles customers, appointments, payments, and marketing. Users like the time-saving aspect of Thryv, its ability to keep everything organized in one place, and its features for lead capture, lead scoring, email marketing, and social media marketing. Users mentioned that some features are complex at first, the learning curve is steep, the price can be high for small teams, and there are occasional glitches with calendar sync.
8,460 Twitter followers
Checkout.com is a cloud-based payments platform – and their mission is to enable businesses and their communities to thrive in the digital economy. Checkout.com’s modular technology allows businesses
9,724 Twitter followers
The smarter, faster way to manage all business payments — without the hassle. Corpay Complete brings AP automation, corporate card management, and expense control into one seamless platform. Say good
Corpay Complete is a financial management system that offers features for electronic payments, financial process automation, and business asset management. Reviewers frequently mention the system's digital visualization features for financial processes, its ability to improve control management of finances, and its efficient adaptation to various financial applications and systems. Reviewers experienced complications with the onboarding process, finding it lengthy and complex, and also reported issues with rush payments in the application.
2,954 Twitter followers
Melio is an Accounts Payable/Accounts Receivable platform, designed to streamline B2B payments for businesses of any size. Easily manage vendor payments, invoices, and cash flow with flexible payment
Melio is a payment platform that allows users to pay vendors and contractors quickly, even if they prefer checks, while users can still use their credit card or bank transfer. Reviewers like the simplicity and intuitiveness of Melio, its ability to pay vendors and contractors quickly, the flexibility it offers in payment methods, and its seamless integration with QuickBooks. Reviewers noted that transfers can occasionally take a day or two to clear, customer support can be slow to respond, and the platform lacks advanced reporting features and integrations with other tools.
5,851 Twitter followers
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
From lead to cash, Ignition transforms your sales, billing and payments process with seamless automation. Over 8,500 service-based businesses, including accounting, agencies, consulting and financial
Ignition is an AI-driven company that uses AI tools for pricing, developing proposals, and collecting payments, and also offers features for organization and integration with other software. Reviewers frequently mention the ease of use, the seamless integration with other tools, the time-saving aspect, the professionalism it brings, the quick customer support, and the ability to customize contracts. Reviewers noted issues with the level of data access, a learning curve for customized scopes, high pricing, limited customization for pricing options, difficulty in sending change orders, and inability to delete or write off sent invoices.
11,286 Twitter followers
EBizCharge is the leading 𝗲𝗺𝗯𝗲𝗱𝗱𝗲𝗱 𝗽𝗮𝘆𝗺𝗲𝗻𝘁𝘀 𝗮𝗽𝗽𝗹𝗶𝗰𝗮𝘁𝗶𝗼𝗻 for businesses to accept payments directly inside QuickBooks, Microsoft Dynamics, NetSuite, SAP, Acumatica, and 100+ other business systems. Tru
Ebizcharge is a payment processing solution that offers integration, automation, and security control features, allowing users to connect with tools such as QuickBooks, set up recurring payments, and benefit from fraud protection. Users frequently mention the ease of integration with their existing systems, the improvement in cash flow and overall efficiency, the excellent customer support, and the secure and easy-to-use payment system. Users mentioned the complexity of the initial integration process, the rigidity of the system in certain environments, occasional sync issues with accounting software, and the need for software updates to rectify disruptions.
Learn More 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.
