15 Best Touchscreen POS Systems

touchscreen cash register

Touchscreens are everywhere, and the point-of-sale industry is no exception. Touchscreen POS systems are more intuitive and easy to learn than traditional legacy POS software, and many cloud-based systems employ the same kind of iPad and Android tablets that your employees already use every day at home. Whether you’re running a restaurant, a retail outlet, or another type of business, a modern touchscreen POS system helps keep your sales moving and your business data secure. Besides simple point-of-sale features, most of these cloud-based systems also have advanced reporting capabilities, business management features, and integrations with other popular business software.

Arguably, the only problem with touchscreen point of sale systems is that there are so many different products to choose from. Do you go with a proprietary-hardware solution like Clover, an Android POS system like Toast, an iPad POS like Revel, or an open-source POS like Vend? In my opinion, the most important consideration when choosing a touchscreen POS is not just iPad vs. Android. More important are your industry type, your specific business needs, and user reviews. To help you get started in your search, I’ve put together this list of my favorite highly rated touchscreen POS systems, sorted by industry. Most of these are iPad-based, though I included some Android and open-source options as well.

To make it easier to find the best touchscreen system for your business type, I’ve sorted the following 15 POS systems into restaurant, retail, and hybrid (systems that can be used for either restaurant or retail) categories. Be advised that the order in which I’m listing these excellent systems does not indicate their ranking.

Restaurant POS Systems

The following restaurant point of sale systems can be used by just about any type of food industry business, from drive-thrus to fine dining:

1. Breadcrumb

  • iPad POS for restaurants
  • Pricing starts $99/month/location
  • Must use with Upserve payments (interchange plus $0.15 fee)
  • Multi-location support
  • Online ordering

breadcrumb by upserve pos logo

Cloud-based Breadcrumb POS by Upserve (see our review) is a highly versatile restaurant POS, suitable for full-service restaurants, take-out, delivery, bars, and multi-location eateries. With Breadcrumb’s acquisition by Upserve in 2016 (Breadcrumb was previously owned by GroupOn), the company has expanded its restaurant management infrastructure, making this POS a complete business management system for just about any type of restaurant.

Breadcrumb is not the cheapest restaurant POS in town, but nor is it short on features. Some of the system’s strongest features include table management, employee management, customer management, and tableside ordering. Breadcrumb also recently teamed up with GrubHub to offer online ordering and delivery (at the $249/month/location “Pro” subscription level).

One thing Breadcrumb users really like about this system is that it is specifically designed with restaurant employees in mind. While we find Breadcrumb to be a very solid all-around POS/restaurant management system, a couple potential downsides are 1) you can’t use your own merchant account (you need to use Upserve Payments) and 2) there are occasional issues with outages. Learn more in our Breadcrumb by Upserve review.

2. Toast

  • Android POS for restaurants
  • Pricing starts at $79/month
  • Must use with Toast credit card processing
  • Multi-location support
  • Exceptional customer service

toast pos logo

Android-based Toast POS (see our review) is another robust, cloud-based POS system for restaurants. It can accommodate any size or type of restaurant, and features like tableside ordering, labor management, and inventory management make Toast a force to be reckoned with on both the front and back end. Toast is intuitive and easy to use for servers, while also providing detailed reporting, customer data, and menu options.

Although we love Toast’s strong feature set and the fact that it uses Android tablets instead of iPads (cheaper hardware costs, less of a theft risk), keep in mind that if you want every single feature Toast offers, it’s gonna cost ya. For example, online ordering, table management, delivery management, and gift card support all carry an extra monthly charge. You also can’t choose your own credit card processor to use with this POS and must use Toast’s in-house processor (which Toast users seem to like, at least). What really sets Toast apart from a lot of other cloud-based POS systems, however, is their excellent customer support – an indispensable quality in any POS, given the inherent complexity of a system that lets you take payments, process orders, and manage almost all aspects of your business.

3. TouchBistro

  • iPad POS for restaurants
  • Pricing starts at $69/month
  • Compatible with multiple payment gateways
  • Best for single-location businesses
  • Locally installed system (not cloud-based)

touchbistro POS

Elegant and easy to use, Ontario-based TouchBistro (see our review) has the distinction of being the top-grossing POS Application on Apple’s App Store in over 35 countries. TouchBistro is one of the few systems on our list that, while tablet-based, is not cloud-based; rather, your store data is stored locally on your restaurant’s iPad or Mac.

TouchBistro is not a full “restaurant management system” like Toast or Breadcrumb, but it’s good at what it does, and can readily handle the POS needs of just about any size/type of eatery, from a food truck to a full-service restaurant. Since TouchBistro stores data on local servers, it’s probably best for single-location restaurants (if coordinating data between locations is important to you). Keep in mind, though, that you will need an internet connection to process credit cards.

Some great features of TouchBistro include table management, menu management, kiosk option, tableside ordering, split-payment option, bar tabs, and sales reports. Customer service doesn’t seem to be as responsive as some users would like, though 24/7 support via phone and email is included in the standard cost. TouchBistro is compatible with Mercury, Cayan, Moneris, PayPal and several other gateways.

4. Lavu

  • iPad POS for restaurants
  • Pricing starts at $69/month with annual contract or $79/month without
  • Can use in-house payment processing or BridgePay, Heartland, PayPal, Nets, or Vantiv Integrated Payments
  • Multi-location support
  • Option to install in-house server backup in case you lose your wireless connection

lavu pos logo

Lavu (see our review) is yet another highly popular iPad POS system for restaurants, used in more than 20,000 restaurant terminals across 88 countries.

Lavu is not the most advanced restaurant POS there is, but it is equipped to handle the needs of most small-to-medium restaurants (or cafes, bars, coffee stands, etc.). Some features that make this POS system a hit include its customizable table layout and menus, easy employee management, advanced menu management, and useful integrations. Lavu also has renowned customer service, which is included in the standard monthly fee. You can add both a loyalty program and gift cards onto your subscription for just $40 a month.

Customers have complained about occasional glitches with the Lavu software, but the company releases frequent updates to solve any bugs or complaints. Affordable and highly customizable, Lavu is a strong and growing contender in tablet POS systems for restaurants.

Retail POS Systems

The following POS systems are suitable for retail store establishments, such as clothing boutiques, toy stores, electronics shops, and many others.

5. Lightspeed Retail

  • iPad and web browser POS for retail
  • Pricing starts at $99/month (billed annually)
  • Integrates with Vantiv Integrated Payments (Mercury), Cayan, and izettle
  • Multi-location support
  • Bike rental store add-on

lightspeed retail pos logo

Lightspeed Retail (see our review) is one of the most fully featured tablet POS systems out there for retail. While Lightspeed can support up to enterprise-level size businesses, this cloud-based system is ideal for small and medium-sized businesses that want powerful functionality — think unlimited inventory, integrated eCommerce, work order management, and customer relationship management. Lightspeed Retail also makes it easy to transfer inventory between different store locations.

Lightspeed is among the pricier systems on this list, and various integrations to extend its functionality, such as eCommerce, can make it even more expensive. So, it’s not going to be the right POS every business. But if you want a super robust POS that you can operate from any desktop browser (meaning, you don’t have to buy expensive iPad registers), Lightspeed Retail might just be right for you. The POS is especially suited for apparel businesses but can accommodate virtually any type of retail setup, including rentals.

Note that there are several Lightspeed products in addition to Lightspeed Retail. These include Lightspeed Onsite, Lightspeed Restaurant, and Lightspeed eCommerce.

6. Vend

  • iPad and web browser POS for retail
  • Pricing starts at $69/month
  • Compatible with Vantiv, PayPal, and Square
  • Multi-store support
  • Apple Pay-capable

vend pos logo

Vend (see our review) was actually the very first web browser-based POS system when it was introduced back in 2010. Today, it is still a big force to be reckoned with in the retail POS world, used by more than 20,000 businesses in 100 countries.

Cloud-based and scaleable for retail stores both small and large, Vend uses an HTML5 browser (such as Google Chrome), or an HTML5 iPad app, for all operations. If the internet goes down, Vend can keep operating locally using the cache and will sync back up with the cloud once the connection resumes. Being browser-based means you can run Vend on a PC, Mac, or iPad. Some features on Vend we really like include customer management, eCommerce, built-in loyalty program, inventory management, and a good selection of third-party software integrations. Vend doesn’t have as much functionality as a POS like Lightspeed or Revel – for example, Vend doesn’t have item modifiers – but it is cost-effective and a good choice for a store (or even chain of stores) that doesn’t need every single “business management” feature out there.

Note that Vend’s email support is free, but 24/7 phone support costs an extra $19 per month, unless you have the multi outlet subscription ($199/month billed annually).

7. Shopify POS

  • iPad POS system for retail (Also supports mobile sales on iPhone and Android phones)
  • Pricing starts at $9/month for mobile and Facebook sales, or $54/month to also include Retail Package for in-store sales
  • Integrates with Shopify Payments and many outside processors
  • Multi-store support
  • Instant syncing with your Shopify online store

shopify pos logo

Shopify (see our review) started as an online shopping cart for businesses who wanted an easy way to sell their products online. Eventually, Shopify extended their offering to include a POS system for in-person sales. As you might expect, Shopify POS does a great job integrating online and offline sales for retail businesses that also do eCommerce with Shopify.

Shopify’s pricing structure is a little convoluted, but the most important thing to know is that if you have a brick-and-mortar store, you’ll need to purchase the Retail Package, which costs $45/month on top of whatever other package you select — the $9/month Shopify Lite plan, the $29/month Shopify Basic plan, or another higher-tier plan. The Basic plan plus the Retail Package will cost $74/month and provide pretty much everything most retailers need for both online and in-store sales. You also have the option to get better credit card processing rates at higher price tiers.

Most Shopify POS features are comparable with other top iPad retail solutions, and they have strong customer service too. The thing that really sets Shopify apart is their seamless online/offline sales integration. So, if you already use Shopify for online sales or would like to, this might be the right POS for you.

8. Quetzal

  • iPad POS for independent fashion retailers
  • Pricing starts at $75/month per location
  • Integrates with Evo Payments International, Velocity, CardSmith, National Discount Merchant Services, Vantiv, and Moneris
  • Multi-store support (max. 10 locations)
  • Clothing/shoe matrix

With its exclusive focus on fashion retailers, Quetzal (see our review) is an iPad POS that’s tailor-made (ha-ha) for stores that sell clothing, shoes, and/or accessories. This aesthetically appealing system has a streamlined iOS aesthetic; the interface seriously looks like it could have been designed by Apple itself, and Quetzal even has an iTunes app that lets managers check in on their store from their Apple Watch. Quetzal also uses a compact, sleek register, Star Micronics’ mPOP system.

Of course, functionality is more important than aesthetics when it comes to a POS, but Quetzal doesn’t come up short in terms of function either. We like the clothing/shoe matrix, in-depth sales reports, “tag cloud,” loyalty program, employee leaderboard, and “sales thermometer,” in particular. At only $75/location price is right as well, especially as there is no charge for additional users or terminals. A couple downsides are that after setup and installation, customer support costs extra, and also there is no QuickBooks integration.

While it doesn’t have a huge marketshare of the overall retail POS segment, Quetzal’s niche focus makes it a functional, affordable, and visually appealing choice for emerging independent clothing brands.

Hybrid POS Systems

These POS systems are flexible in that they are equally suited to retail and restaurant environments. Service-based industries such as beauty salons, rental businesses, and hospitality businesses also often use hybrid POS systems.

9. Shopkeep

  • iPad POS for retail and quick serve restaurants
  • $69/month/register ($29/month/register for fourth register and beyond)
  • Integrates with Shopkeep Payments and outside processors
  • Multi-store support
  • Matrix inventory feature

shopkeep pos logo

Shopkeep (see our review) is an affordable and enjoyable-to-use POS system that runs locally from an iPad and syncs data back to the cloud. Shopkeep is used in both retail and restaurant environments, and while it’s more feature-rich on the retail side of things, it will more than meet the needs of most quick-service/coffee carts/food truck businesses.

Some things about Shopkeep we especially like include its comprehensive register functionality, in-depth reporting suite, mobile app to view your business stats on the go, and unlimited inventory matrix (which includes raw goods management). Shopkeep also offers unlimited 24/7 customer support (though premium phone costs an additional $30 per month). This POS integrates with MailChimp for email marketing, QuickBooks for accounting, and BigCommerce for eCommerce.

Shopkeep is a wise choice for a small-to-medium retail business or restaurant that doesn’t need extensive restaurant-centric features like table management. Note that ShopKeep is currently only available on iPad but is in the works to make its service available on the Clover Station via a recent partnership with First Data.

10. Revel Systems

  • iPad POS for retail, restaurants, hospitality, and more
  • Supports numerous payment processors
  • Custom pricing based on industry and individual business needs
  • Multi-store support
  • Ethernet internet connection

revel systems logo

Revel Systems (see our review) is arguably the holy grail of iPad POS systems. Revel is powerful enough that franchises like Cinnabon use it, and flexible enough that it can support businesses in virtually any industry, from brewpubs to gas stations. It’s also the only iPad POS system that offers a “wired” ethernet connection for a faster an more reliable internet.

Revel POS pricing is determined by which industry-specific package you choose, but depending on your needs, you can expect to pay about $80 to $200/month per location. Myriad add-on applications and integrations extend Revel’s functionality to make it do just about anything you can imagine, though this naturally increases the system’s cost as well. Some of Revel’s more impressive features include its kiosk mode, digital menu board, and ability to accept mobile payments (including ApplePay, PayPal, Bitcoin, and others). Because Revel is so powerful and customizable, initial system setup can take a while.

Revel can manage multiple locations and up to 500,000 SKUs. It is optimized for mid-sized businesses, particularly busy quick-serve restaurants that can afford one of the best iPad POS’s money can buy.

11. ERPLY

  • Web browser/iPad/Android/Windows POS for retail and restaurants
  • Pricing starts at $200/month/location
  • Compatible with all big-name payment processors, (though currently promoting PayPal as a preferred processor)
  • Multi-store support
  • Strong inventory features

erply-logo

ERPLY (see our review) originated in 2009 as a retail POS system, though it has eventually expanded support to food service too, now offering food-centric features such as kitchen printing and sell by weight. Whether you run a retail business or restaurant, ERPLY is especially powerful in the inventory management department, with functions like automated ordering, supplier management, and multichannel (online, in-store, phone, email) inventory tracking and transfers.

ERPLY gives you a lot of flexibility as a business owner. Using just about any payment processor under the sun, you can accept traditional swipe, chip card, and mobile payments, including Apple Pay, PayPal, and Android Pay. You also have the option to use pretty much whatever device you want, even without a reliable internet connection, or run ERPLY right from your browser.

It’s actually kind of hard to come up with a feature ERPLY doesn’t have. An open API architecture allows customizability and the ability to develop your own software integrations and customize it to meet your needs (or, have ERPLY make these integrations/customizations for you). Being such a versatile piece of software, it’s one of the pricier cloud-based POS systems. If you have a larger or franchise business, or you just want the flexibility and horsepower this system offers, you might try ERPLY out for size.

12. talech

  • iPad POS for retail and restaurants
  • Standard subscription is $62/month/location (billed annually upfront)
  • Compatible with multiple payment processors
  • Multi-store support
  • Kiosk mode

talech POS logo

talech (see our review) is a smaller player in the iPad POS world, but with their affordable price point and impressive set of more than 100 features, they can certainly give their larger competitors a run for their money. talech is used by both retail and restaurant businesses, but restaurants, in particular, will find a lot of useful features, including table management, coursing, and the ability to split the check by table positioning (seat).

Advanced inventory management, self-service (kiosk) mode, and the ability to generate purchase orders are some more features that set talech apart from some of its competitors in both the retail and restaurant spheres. talech also made it possible for restaurant owners to integrate an online ordering system so that you can manage in-person and online orders all from your iPad POS terminal.

One caveat: being 100% cloud-based, talech is unable to take credit card payments in the event of a WiFi outage, and you also won’t be able to access your back office. However, it’s possible to circumvent such issues by getting a specialized backup router.

13. Bindo

  • iPad POS for retail and restaurants
  • Custom pricing depends on industry and number of SKUs
  • Works with nearly any payment processor
  • Multi-location support
  • “Favorites” grid displays most popular items as register buttons

Bindo POS logo

Bindo (see our review) is a hybrid POS whose varied and easy-to-use features make it suitable for retail or restaurant environments. A reasonable pricetag, clean interface, robust eCommerce storefront, and thoughtful inventory reporting suite make this an especially versatile touchscreen POS option. While fewer than 5,000 businesses use new-ish POS, customer support (included at all price levels) is responsive to these customers’ needs and tech support (also included) issues frequent updates to fix any software glitches.

As with most other fully cloud-based systems, you’ll need fast internet to experience the best functionality. More than one customer has also complained about being stuck in a leasing contract with Bindo for equipment they were not satisfied with (though in general, we do not recommend leasing POS equipment). Since Bindo works with most standard iPad POS equipment and offers a 14-day free trial, it is likely that you’ll be able to test out Bindo using your current equipment before you commit to purchasing.

14. SalesVu

  • iPad POS for restaurant and retail
  • Basic restaurant and retail packages start at $75/month
  • Works with Vantiv, Evo, and WorldPay
  • Multi-location support
  • Allows items to be charged by decimal and fractional quantities

SalesVu (see our review) is another affordable and feature-rich iPad POS system that can be used in many industries, including service industries and traditional retail and restaurant environments. Since this system allows you to ring up transactions in fractional amounts, it’s especially useful for hourly professionals such as therapists or dog walkers, and businesses that sell items based on weight, like fro-yo shops. SalesVu also has an appointment booking system that health, beauty, and hospitality businesses will appreciate. Like the majority of touchscreen POS’s on this list, SalesVu is best suited for smaller to medium-sized businesses, though it has the capacity to scale up if you open a second or third location.

SalesVu runs locally on iPad registers and syncs all your data to your account in the cloud. Though you can use the SalesVu POS app without an internet connection, you’ll need internet to process credit card transactions; however, you can use a specialized router with a 4G wireless modem with a data plan so that you can switch to 4G without any interruption if your main internet connection goes down.

Another cool thing about SalesVu is that it will run on an iPhone, allowing you to take mobile sales on the go. The basic mobile POS app without any frills is free, similar to Square. Which brings us to the final favorite touchscreen POS on our list …

15. Square Register

  • Proprietary POS hardware with free cloud software for retail, restaurants, service industry
  • Hardware costs $49/month for 24 months or $999 one-time payment
  • In-house credit card processing is 2.5% + $0.10/transaction or lower for high-volume businesses
  • Multi-location support
  • Best for businesses with average transaction of $40 or higher
  • Ethernet support for more reliable internet connection

While Square‘s popular free POS mobile app has been around for some time, the Square Register is a relatively new product, released in October 2017. There are still no monthly service fees, but rather than selling on your smartphone or iPad, you’re ringing up sales on fully featured POS hardware that you purchase as a complete package from Square. With a concept similar to that of Clover Station (which I didn’t include on this list because it is locked into First Data’s less than stellar payment processing), the Square Register is sleek, proprietary POS hardware that works right out of the box, complete with a customer facing screen and built-in credit card terminal. The Square Register hardware itself costs $49/month for 24 months, or you can simply purchase the system outright for $999.

Note that Square Register users have a different credit card processing rate than the standard Square mobile processing rate. With Square Register, businesses are charged 2.5% + $0.10 on every transaction, vs. 2.75% (+ $0.00) with regular Square. This pricing setup may at first blush look like Square Register has cheaper rates, but if you have a lot of small transactions you’ll actually pay more with Square Register than with the Square mobile POS. For this reason, Square Register is a more appropriate solution for larger businesses with average ticket sizes of $40 or higher. Larger businesses processing more than $250,000 per year and with an average ticket size of $15 or higher may also qualify for lower rates.

As for the specific business type, 100% cloud-based Square can work with just about any industry. Square has a built-in 24/7 online booking system for service-based industries, as well as restaurant-centric features such as suggested tipping amounts and online food orders.

Finally, Square Register is not to be confused with Square’s iPad-only, $60/month solution, Square for Retail (see our review).

Final Thoughts

When sorting through your options for touchscreen POS systems, the plethora of choices may at first seem overwhelming. But that’s why we’re here to help you sort out the stinkers and lead you to the very best tablet point of sale systems. And really, you can’t go wrong with any of the POS software systems on this list. Just check that the touchscreen POS system you’re considering meets your business’s needs in terms of functionality and budget, and test it out with a free trial before purchasing. And of course, don’t forget to check user reviews and complaints on the BBB and other consumer review sites. If you need further help choosing a touchscreen POS system, please contact me in the comments section and I’ll give you some further guidance.

The post 15 Best Touchscreen POS Systems appeared first on Merchant Maverick.

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Useful Online Portfolio Examples for Students, Teachers, and Professionals

Online Portfolio

When it comes to having an online portfolio of work — whether for designs, papers, case studies, or your work history — a well-designed portfolio goes a long way in leaving a lasting impression.

But what does a good portfolio look like?

I’ve gathered 9+ useful online portfolio examples for students, teachers, and professionals to serve as inspiration for your portfolio website. But before we go too far, let’s talk best practices:

Portfolio Page Best Practices

So what makes a good portfolio website? While the opportunities for displaying your work are endless, there are a few best practices to keep in mind when designing your portfolio. Here are some key elements of a great online portfolio:

  • Clarity over Creativity: It’s easy to get caught up in showcasing your creativity on your portfolio. Adding some extra flair to stand out is fine… until it sacrifices clarity. Your portfolio website’s main goal should be to clearly show who you are, what you do, and what you’ve done.
  • Easy Navigation: Your portfolio should be easy to navigate. Prioritize key pages in your navigation like Work, About, and Contact.
  • A Strong Bio: An online portfolio doesn’t just show visitors what you’ve done… it also tells them who you are. A strong About Me page is a great way to share your bio and give visitors a glimpse into what you’re all about.
  • Current Work: Your portfolio should feature your most recent work. When choosing how to set up your portfolio page, make sure you choose a format you can easily update whenever you complete a project you’d like to feature.
  • Next Steps: What action do you want people to take once they review your portfolio? Should they contact you? Follow you on social media? Request a quote? Make it clear what a visitor should do next with a strong call to action.
  • Showcase Abilities: Your portfolio is the perfect place to practice what you preach and showcase your abilities. For example, if you’re a web designer, use your portfolio website to show your design style. Use the site as an opportunity to display your work in action.

Online Portfolio Examples

Now that you’ve got the basics down, it’s time to get creating. Here are 9+ useful portfolio examples to use for inspiration.

Min Zhou, Product Designer

min zhou portfolio

A great portfolio doesn’t have to be elaborate. In fact, sometimes a simple, straightforward approach works best. Min Zhou’s portfolio is a great example of this.

Notice how the navigation is ultra-simple. It features two options: Work and About. Min then leads with a straightforward headline that instantly tells you who he is and what he does. Below that, he showcases his work in a clear grid format that allows you to dive deeper when clicking on each square.

 

Sean Halpin, Web Designer

Sean Halpin Portfolio

A portfolio is a great place to show your abilities in action, especially in web-based industries like design and development. This portfolio by Sean Halpin is a great example of showing your skills and style within the portfolio itself.

Sean’s portfolio website gives off an immediate impression of his design style, while also showing his depth in his work section.

 

Pascal van Gemert, Web Developer

Pascal van Gemert Portfolio

Similar to Sean, this interactive portfolio by Pascal van Gemert is another example of integrating your work into your website. Pascal uses his development skills to create an interactive site that uses unique ways to communicate information, like this start system that shows his experience in certain areas.

 

Emma Kay, Creative Director + Stylist

Emma Kay Portfolio
What makes this portfolio unique is the use of segmentation. If you have work across multiple industries, like Emma Kay does, segmenting your portfolio by industry can be a great way to help visitors find the most relevant projects.

emma kay portfolio segmentedEmma also uses a swipe scroll to help visitors easily browse her work. The design is sleek and provides a great user experience, which is the hallmark of a great website.

 

Brett Bergeron, Designer, Developer, and Creative Director

Brett Bergeron Portfolio

Portfolios don’t always have to be about the visuals. This portfolio by Brett Bergeron uses large text on the homepage to tell you exactly who he is, what he does, and who he works with. It takes up the entire “above the fold” portion of the homepage (jargon for the entire screen before scrolling). If you want to learn more about him, you can scroll down to the navigation and the video, which adds a great balance to the text-heavy homepage.

Brett Portfolio

 

Charlie Waite, Designer

Charlie Waite portfolio

Charlie’s portfolio stands out for two primary reasons. First is the color scheme. The use of complementary colors makes his portfolio pop — your eye is immediately draw to the yellow and then directly down to the blue section below it, which features another project.

Second is his call-to-action. Instead of using something generic, like “Contact”, Charlie goes with a much warmer “Say Hello!”, which matches the overall warm vibe of his portfolio page.

Keep in mind that a strong CTA doesn’t mean a boring CTA — it just has to be clear!

 

Robert Brown Interior Design

robert brown interior design portfolio Sometimes less is more, which is exactly what makes this portfolio stand out. As an interior designer, displaying multiple, large-scale projects with several photos can quickly turn a portfolio into photography overload. Robert Brown Interior Design’s approach is much more manageable. The simple grid layout showcases individual projects and creates a cohesive style on the portfolio page. If a visitor wants to see more photos related to a specific project, they can just click on the main photo to open the gallery.

Robert Brown Interior Design portfolio

 

Sparkle Tafao, Makeup Artist + Hair Stylist

Sparkle Tafao makeup portfolio

For some industries, like beauty and photography, a portfolio website might not be the primary place to showcase work. Instead, you may rely more on a social channel like Instagram. However, that doesn’t mean you should ignore your website (you still need to have a web presence that you own!). This portfolio by Sparkle Tafao is a great example of how to leverage your website to direct visitors to another channel. When you land on Sparkle’s homepage, you have two options: you can visit her portfolio, or you can check her out on Instagram.

 

Kathryne Bevilacqua, Professor

Kathryne Bevilacqua professor portfolio

This professor’s portfolio is another example of balancing creativity with clarity. Kathryne Bevilacqua uses an interactive menu to jump you down her website, and adds a fun design component with her teaching timeline. However, the information is still easy to consume and find. The portfolio also includes a downloadable PDF for visitors who want to learn more about her teaching.

Remember, your portfolio is a starting point for people to learn about you and your work. You don’t have to include everything on one page. Use it as a entry point and invite visitors deeper.

 

Takeaways + Next Steps

No matter your line of work or purpose – having an accessible portfolio online is essential.

As far as how to get your portfolio online though, there’s plenty of options. I created a guide to the best website builders here, although the go-to options that I recommend are –

  • WordPress.com – user-friendly option with good functionality, customer service, bundled hosting – and the option to migrate to a self-hosted website in the future. See their Portfolios functionality.
  • Self-hosted WordPress – allows for maximum ownership and versatility, but has a bit of a learning curve. Learn how to set up WordPress here.
  • Weebly – a drag and drop website builder with straightforward setup and a free plan option. See Weebly here.

Have a successful project!

The post Useful Online Portfolio Examples for Students, Teachers, and Professionals appeared first on ShivarWeb.

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Complete Guide To Credit Card Machines And Terminals

We don’t typically think about what happens in the moments after we swipe our debit and/or credit cards. More often than not, we simply run or insert our card into the credit card machine and hope that the cashier doesn’t use the next few moments to initiate small talk. The number in our checking account decreases or the number on our credit card bill increases, and that’s all we care about.

But, to the business owner, credit card processing is exceptionally important and it can play a huge role in your bottom line. There’s a lot of information to take in if you’re a novice when it comes to credit card processing, and you’ll need to decide what elements are most important to your business. Do you need mobility when accepting payments? Will you be accepting transactions online or over the phone? What security measures should you be taking to protect both your business and your customers? What companies are highly rated or come heavily recommended?

We’ll try and answer the bulk of your questions about credit card machines and terminals below.

Credit Card Machines

Credit card technology has evolved rapidly over the years. It doesn’t seem like that long ago when the process involved a terminal with just the option for credit. Then came debit cards. As the internet became the world’s go to for conducting business, the processing game had to change as well. Now, merchants can take payments with readers connected to their phones or tablets — they can even accept payments remotely without the physical card present. This has created a need for increased security which has led to encryption technology and the relatively recent advent of the EMV chip card.

Before we get into that, however, let’s start with some basics about credit card transactions. You have, no doubt, used hundreds of different types of card readers throughout your illustrious tenure as a consumer. But what happens once your card’s magnetic strip has been read? In simple terms, there are three phases involved in actual processing:

  • Authorization: Once your card is scanned, its information is sent over with a request to be processed. The processing request is then sent to the company of the cardholder (VISA, Mastercard etc…). The company sends the request on to the issuing bank. If there are enough funds in the account, and if the card is registered as valid, the purchase is approved. All of this takes place in a matter of seconds, generally speaking.
  • Settling: After a transaction has been approved, it is forwarded on to be cleared via an interchange. When the request is received, a credit is given to the merchant for the amount of the sale. The bank will then issue a statement to the customer in that amount which the customer must then pay off.
  • Funding: So far in the transaction, no actual money has changed hands. After the card has been authorized and the credit is issued, the payment company then makes a deposit into the merchant’s checking account. These funds can generally be accessed in just a few days.

In order to accept these forms of payment, you will need some type of card reader. Your options here have also evolved rapidly in the past couple of decades. The most common type of credit card machine is still the stationary card terminal. This is a machine that needs a physical connection either to a phone line or to the internet in order to process physical cards.

The next type of machine, and one that is rapidly gaining in popularity, is the wireless processor. These often look very similar to a stationary device, using a magnetic strip or chip reader to take a customer’s card information. However, these devices only require a wireless connection, making them far more versatile and mobile for merchants (albeit with slightly higher security concerns).

Finally, you can also accept payments via a virtual terminal, something we’ll get into more thoroughly a little bit later. In short, virtual terminals allow you to take a customer’s card information without that card being physically present.

Of course, within these different machines, you’ll have some other hardware choices to make. One item you may want to look into is a PIN pad. With this device, customers can manually type in their debit card password to process a payment. Debit cards with either a VISA or Mastercard logo can be processed almost identically to credit cards. However, with a PIN pad, a transaction that is specifically run as debit usually costs the merchant a smaller fee. This ends up saving you a lot of money in the long run, particularly on large transactions.

Some point of sale systems have this technology built-in, allowing customers to enter their PIN numbers on a touchscreen. PIN pads encrypt a customer’s information, giving an inherent level of security on those transactions. As previously mentioned, you don’t need a PIN pad to run these types of transactions. A signature debit card is processed just like a credit card, but the money comes directly from a customer’s checking account. However, in most instances, the merchant is still charged the same rate as if the transaction was run as credit.

One of the more recent changes in the world of credit card processing has been the introduction of the chip card. EMV (which stands for Europay, Mastercard, VISA) is a method of payment based on a standard for cards and machines that is meant to dramatically reduce the possibility for fraud when it comes to credit card payments. EMV cards store data in a chip within the card that is scanned when it is “dipped” or inserted into a card reader or payment machine. Companies have been steadily trying to meet EMV standards and the majority of processors and point of sale companies are now EMV compliant or claim to be in the process of becoming compliant in the near future. VISA and Mastercard have also issued standards for card-not-present transactions as a way to increase security measures in the world of eCommerce.

It’s difficult to predict what the future will look like when it comes to payment processing, but one trend that seems like a near sure bet is that consumers will continue to seek out convenience. This means that services like Apple and Android Pay will probably continue to spike in popularity. Given society’s increased dependence on iPhones for everything from communication to driving directions, the ability to pay with one’s phone is something all companies will want to make sure they can handle — sooner rather than later.

Looking for a credit card machine for your business? Buy, don’t lease! 

Virtual Terminals

What is a virtual terminal? Let’s delve in deeper to get a sense of whether or not it’s a solution your business needs. Virtual terminals are online applications that allow customers to input credit card information directly online to then be processed electronically. These terminals allow for transactions to be processed even when a credit card is not physically present. This can be an ideal solution for any business that is highly mobile or conducting transactions remotely with clients.

Many companies, including PayPal and Helcim, offer the ability to use a virtual terminal for payments. The implementation process is exceedingly simple. Generally, for a small, monthly fee, your processor can give you the ability to enter payment information from pretty much anywhere with an internet connection. Most companies will offer a percentage rate and a flat fee for virtual terminal transactions. This fee is often slightly higher than it would be for a typical transaction as card-not-present transactions have a slightly higher risk of fraud.

With PayPal, for example, all you need is a phone, tablet or computer and you can quickly log in to your account and go to the virtual terminal setting. This leads you to a screen similar to one you would see if you were entering your own information online for a purchase. Once the information is entered, you’ll receive confirmation. 

This simplicity and flexibility has made the virtual terminal an increasingly popular way for businesses of all types — not just mail order or eCommerce businesses — to accept payments. An increasing number of companies are now also offering USB card readers that connect directly to your terminal. These automatically take the card information and run it through your virtual terminal, keeping your transactions in the same location but charging you a lower rate since the card is present at the time. Some of these same companies offer pads which can collect customer signatures in the same way. Even with an external card reader, virtual terminals are usually not designed to accept advanced payment types, like contactless payments, from mobile wallets such as ApplePay. If you want to accept contactless payments, you’re better off getting a standard NFC-enabled credit card machine or credit card reader.

Virtual terminals can also take automated clearinghouse (ACH) payments for one-time or recurring transactions. These payments are processed in bunches, meaning the payment is usually received a little later. However, you aren’t subject to interchange fees for these payments.

Obviously, when making or accepting payments where credit card information is simply entered online, security is going to be of the utmost importance. It is highly recommended that you choose a payment provider that encrypts credit card data; this both reduces the risk of theft and the scope of the Payment Card Industry (PCI) compliance.

From there, you will generally have two options.

You can choose a non-validated solution which can cut down the risk of having data stolen. This is an affordable option that is offered by most processing companies, though these solutions are not defined as secure by the PCI. In other words, there is an increased chance that hackers could gain access to encryption keys which could eventually lead to a data breach.

The other option is a PCI point-to-point (P2PE) provider which meets all of the PCI standards and includes secure hardware. Processors that provide this level of protection must accept Merchant P2PE Implementation Responsibilities. Because of this added security, a much smaller number of processors offer this service (although that list is growing). If you are set on providing increased security, you will need to make sure you have hardware that meets these standards — you will also have to submit to regular security check-ups.

Merchant Services

When we talk about merchant services, what exactly do we mean? In simple terms, ‘merchant services’ is a broad term to describe the hardware and software products that make it possible to accept credit and debit card transactions. These companies and services help to connect the issuing bank (the bank that gave your customers their credit cards) and the merchant bank (the bank that is behind your merchant account). In the last couple of decades, this term has expanded to include much more than just your standard terminal scanner. The internet has opened the door for payments to be made online and those purchases can be tracked and managed from your computer or mobile device.

Merchant services providers are any businesses which accept payments (aside from just cash and checks). These can include credit and debit card processors, point of sale terminals, analytic software etc. There are a handful of different kinds of merchant services providers, including:

  • Merchant Account Providers: These providers can set you up with a merchant account and services that allow you to collect your money following a debit or credit card transaction. Some larger companies also come with direct processing services.
  • Payment Service Providers: Even though it’s advisable, it’s not essential to have a merchant account to process payments. Payment service providers, like the ubiquitous PayPal, don’t give you an ID number and are popular because they generally do not come with account fees or long-term contracts. These accounts can be frozen, sometimes without notice, and customer service can be sketchy. However, for smaller or seasonal businesses, payment service providers are a popular choice.
  • Payment Gateway Providers: Payment gateway providers represent a service provider that has emerged with increased popularity of eCommerce. These providers may or may not come with a merchant account. Some give you a choice of using their own merchant account or using a gateway with an existing account. Others only offer a gateway service, meaning you’ll have to have a merchant account from a third party.

When you’re looking at various card processors, there are a few things that you should keep an eye on. Perhaps most importantly you’ll want to research the company’s reputation. Processing payments is a crucial aspect of your business and an unreliable company can give you a lot of headaches (and affect your bottom line).

You’ll also want to compare the costs and potential fees that various processors implement. Square, for example, charges no monthly fee, which is yet another appeal for smaller or mid-sized companies. However, they also implement a 2.75% fee on transactions — if your business takes off and you’re suddenly processing a high number of transactions, those fees will add up and quickly wipe out any savings you’re receiving from not paying a monthly fee.

You’ll also want to doublecheck the compatibility of your processor. If, for instance, you’ve found a point of sale system that you are comfortable with, you’ll want to make sure that the processor integrates seamlessly without additional costs. If you’re forced to set up an aforementioned gateway, you could end up paying a large monthly fee.

To enable transactions, merchants will have to fill out an application. If you’re opening a merchant account, this process can take a little longer than going through a third-party processor. One of the reasons smaller and mid-sized merchants lean towards a third-processing account like Square is that you can be up and ready to take payments almost immediately. The price for that instant gratification, however, is an increased likelihood for potential account freezes later on.

When you’re in the process of picking out a processor, you’ll also want to pay close attention to transaction fees. The best merchant account providers usually offer what is referred to as interchange-plus pricing. This means that the provider takes the wholesale cost of the transaction and tacks on a small, standardized markup. This ensures an affordable and transparent pricing plan. It also means a slightly higher rate for transactions when a card isn’t physically present since those transactions have a higher frequency of fraud. Third-party processors sometimes provide a flat rate for all transactions — this is convenient and offers a simple way to quickly figure out your fees. However, it may not be the most cost-efficient in the grand scheme of things. A company like Square, which offers a flat rate for swiped and dipped transactions, also charges a slightly higher rate for key-in and eCommerce transactions.

There are a few other things you’ll want to watch out for when finalizing your decision about a merchant accounts provider. Along with the potential for account freezes or funding holds, keep an eye on how businesses handle chargebacks (where customers dispute a charge) and fraudulent charges in general. There are ways to mitigate these dangers, of course. You can use fraud management tools, including things like address verification services. Using a chip card terminal also dramatically cuts back on fraudulent charges.

Here are a few of our most highly recommended processing companies:

  • Fattmerchant: Fattmerchant is one of the best companies for eCommerce transactions. Its pricing is transparent without undisclosed fees. There is also a 0% markup, meaning you pay only the wholesale cost plus the monthly fee and a small authorization fee. Fattmerchant also has terrific customer service.
  • Dharma: Dharma provides a full array of processing services and also has a simple, affordable pricing structure without hidden fees. They exclusively use the interchange-plus format and are a particularly good choice for non-profits, as they offer a discount to those companies.
  • Helcim: For slightly large companies, Helcim is a very strong option. While offering a wide range of services, they have extremely competitive rates for companies that process more than $2500 a month. They also have very strong customer service and their fee structure is transparent and easy to understand.
  • Square: For companies that don’t provide a full-service merchant account, Square is the standard bearer. There is no monthly account fee and they offer free or low-cost readers. Square also doesn’t force you to sign up for a long-term contract or charge you for early termination.

Your POS System

Another way to process payments is through your POS or point of sale system. Point of sale systems have come a long way, especially in the past decade. Today, you can virtually run your entire business from one, simple device. With the influx of cloud-based systems, you can make snap decisions and check the status of your operation from anywhere with a wireless connection.

With so many options available, and with point of sale systems offering more and more features all the time, choosing the correct system to meet your needs is an important decision. The first thing you’ll need to decide is whether you want a system that is cloud-based or locally installed. Most companies have been moving toward cloud-based options for numerous reasons. First and foremost, it’s incredibly convenient. All of your data is automatically stored off-premise, so if something happens to your store or to your system, all of your payment, customer, and inventory information is still accessible. These systems are often extremely user-friendly as well, designed to be intuitive with very little training time needed. They tend to be sleek, modern, and visually appealing both to your customers and employees.

Many cloud-based systems also perform routine updates automatically, fixing bugs and adding new features so that you always have the most current software at your fingertips. Along these same lines, the best POS systems sync seamlessly to any number of integrations that can help your business in ways you may not have even considered before.

When you’re looking at purchasing a POS system, there are a number of factors to keep in mind. First and foremost, it’s likely that the cost of the POS hardware and software is going to play a large role. Some systems allow you to purchase your system and all necessary hardware upfront for a flat rate, allowing you to own the software. But if dropping a few thousand dollars isn’t something you’re comfortable with, the majority of point of sale companies offer monthly rates. A few companies, such as Square, offer a free version of their software that is generally suited for small operations, though most other POS software systems run anywhere from $39 to $99 a month for basic services while often offering advanced packages with additional features.

Let’s talk about some features you can expect to find in pretty much any good, modern point of sale system:

  • Inventory Management: Not only can you view all of your stock on hand, you can set your POS to alert you when certain products are running low or, even more conveniently, you can set the system to automatically reorder products when they hit a certain level. This can be an enormous time saver and, in most systems, inventory management can be accessed remotely. You can set up quick transfers across multiple locations and, in many cases, create and print your own purchase orders.
  • Employee Management: Likewise, your staff is easy to track and manage from your centralized POS station. You can set permissions and create alerts for suspicious transactions to cut down on fraud. Employees can be given unique codes when they log into the system and can view their hours and current schedules.
  • Customer Management: Many point of sale systems come with their own built-in loyalty programs or integrate with other companies for a small monthly fee. But these days, your POS can help with so much more when it comes to analytics and marketing. Most systems allow for customer data to be stored and easily searched. Customers can look up their own loyalty points and control their own profiles in some cases. More useful for business owners, however, is the ability for the system to analyze what items are being purchased by certain customers, assessing buying habits and creating personalized marketing campaigns that can be implemented with ease, helping to maximize profits. The same can be done with coupons, targeting customers to boost repeat business.

You will also want to do your research to see what systems specifically cater to your particular business. For example, if you’re opening a pizza shop, you may want to look for a system with built-in features that makes online ordering simple, or functions that allows customers to create a custom order which is then automatically sent to the kitchen, freeing up your employees. There are also niche POS systems for specific types of businesses. Quetzal, one of our highest-rated systems here at Merchant Maverick, is built for the retail industry with a significant bent towards shoe stores.

Many POS software systems have their own app store, like Clover, or integrate with scores of apps that might help your business out tremendously. If you’re technically savvy, most POS providers also give you access to an open API, meaning that you or a developer can create your own apps within the software.

When you’re doing your research there are a number of other features you’ll want to keep an eye on. Definitely check to see what features come in the form of add-ons which will increase your monthly fee. You will also want to make sure you have appropriate, compatible POS hardware. Several companies offer hardware packages that can be purchased directly through their websites.

A robust reporting feature should be available in most highly-rated systems and many offer their own eCommerce platforms, making it easy to set up your own website and sell online, all from your POS device.

Another key factor to research is what credit card processors are compatible with your system. While some offer a wide range of choices, integrating with most major companies, others lock you into a limited number of options or offer their own processing services for credit card payments, for better or worse.

You’ll also want to see what your system has in terms of an offline mode. Most point of sale systems have evolved to now offer at least some offline functionality, but what you can actually do in the case of an outage can vary. Many systems still function as normal, allowing you to process credit cards, encrypt transactions, and store the data to be run once the internet is restored.

It’s difficult to make a decision, but at Merchant Maverick, we’ve come across a number of point of sale systems that we would happily recommend depending on your business.

  • Shopkeep: Shopkeep is routinely on the top of our lists. This simple and reasonably priced system features everything you would expect in a point of sale system. It’s well suited for small to mid-sized retail shops and restaurants with a sleek design, excellent reporting and management tools, and terrific customer service.
  • Revel: For slightly larger restaurants or retail establishments, we often recommend Revel, a product that can manage multiple locations and large amounts of inventory with ease. Revel is intuitive and extremely robust with a top-notch kiosk function and Kitchen Display System.
  • Lightspeed: Lightspeed is another highly rated company and offers both a Retail and Restaurant product. Lightspeed has great customer service and is easy to set up while also providing intuitive front end and back end features. It also has an excellent and simple to use eCommerce platform.
  • ERPLY: ERPLY is one of the top retail point of sale systems that we’ve reviewed. One of its biggest features is the ability to integrate with most major credit card processors. It also has terrific shipping integrations and excellent customer management tools, particularly when it comes to loyalty.

Final Thoughts

There is obviously a lot to process when it comes to… well… credit card terminals and payment processing. If you’ve made it this far, hopefully you’re feeling a little more confident about your knowledge of credit card processing machines, virtual terminals, merchant services, point of sale systems, and what you should be looking for from the various companies that provide this technology. Make sure you have a good grasp on what each company charges for different transactions and what might be the best option for your type and size of business. Also don’t overlook things like a company’s customer service reputation. It’s a competitive market and you have the ability to make sure you end up with a credit card terminal and processing system that can best help your business thrive.

Interested in learning more? Download our free Beginner’s Guide To Payment Processing.

The post Complete Guide To Credit Card Machines And Terminals appeared first on Merchant Maverick.

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Stripe Payments Competitors And Alternatives

It’s safe to say, Stripe (read our review) has done a lot to change the way people pay online, and it’s opened up the potential for merchants all over the world to sell online and reach customers almost anywhere. The company has grown massively over the years, to the point that Stripe says there’s an 80% chance any given credit/debit card has been used on the Stripe network previously.

In addition to pre-built and customizable checkout forms that you can drop into a website, Stripe integrates into mobile app payments. Square’s documentation has become the gold standard by which all other documentation is judged. Developers love it for ease of use and the extensive support for programming languages.

Merchants also get access to advanced subscription and billing tools, including invoicing. Not only that, but the Stripe Connect platform allows you to create a marketplace for other merchants to sell and easily manage all their payments. However, it’s worth noting that Stripe will charge you additional fees on top of processing costs for using these services.

Plus, Stripe offers more than 300 ready-to-go integrations from eCommerce to invoicing and much more, which can simplify the process of building your business’ back end. Check out Stripe’s Works With page for the full list.

But Stripe isn’t for everyone, and it does have some serious drawbacks. The first among them is its third-party processing model that leads to account holds and terminations for unqualified merchants. The second is the dubious customer service, which includes a lack of phone support.

If you’ve had a bad experience with Stripe in the past, or you’re not sure if Stripe is actually right for you, have no fear! There are some great alternatives to Stripe out there, that offer comparable pricing, similar tools and features, and quality customer support. Let’s take a look at six of the most promising Stripe competitors and see how they stack up for merchants.

Stripe Key Facts 

  • Merchant Account Or Third-Party: Third-Party
  • Pricing Model: Flat-Rate Pricing
  • Processing Costs: 2.9% + $0.30
  • Suitable For Low Volume: Yes
  • Suitable For High-Risk Businesses: No

Alternative #1: Braintree Payment Solutions

Braintree (read our review) is, hands down, the most direct and obvious alternative to Stripe. Its product offerings are nearly identical, documentation is quite good, and pricing is comparable. That means you get access to a pre-built payment form, a customizable form, subscription and recurring billing tools, marketplace tools, an API for custom reporting, and more. Braintree actually outperforms Stripe in terms of global reach for merchants, with more supported countries. However, like Stripe, there is no easy in-person payments option.

You also get access to a huge assortment of supported payment methods. It’s worth noting Braintree is owned by PayPal, so that does mean you can incorporate PayPal and Venmo acceptance, as well. But whereas Stripe will charge you for access to features such as Billing and Radar, Braintree charges absolutely nothing beyond processing costs to use its services.

Braintree doesn’t quite compare to Stripe as far as integrations, but there are some very good options on the list. Check out Braintree’s list of supported third-party integrations for more information there.

In addition, Braintree offers each merchant their own merchant account, which translates to much greater account stability than you get with Stripe. And despite being a PayPal company, reports indicate that Braintree is a little bit better about working with higher-risk businesses. Decisions are made on a case-by-case basis and you may be required to implement a reserve fund, but Braintree is certainly an option if you’ve had trouble with other processors. Braintree also promises “white glove” support, and with a few exceptions the merchant experiences support this claim.

Check out our Stripe vs. Braintree article for an in-depth comparison of the two services.

  • Merchant Account or Third-Party: Merchant Account
  • Pricing Model: Flat-rate
  • Processing Costs: 2.9% + $0.30
  • Suitable For Low Volume: Yes
  • Suitable For High-Risk Businesses: Yes (in some circumstances)

Alternative #2: Adyen

Adyen (read our review) isn’t exactly a big name. In fact, it only has about 5,000 merchants. But despite the small customer base, it had a payment volume of $50 billion in 2015, comparable to Braintree, which has quite a few more merchants. And that’s because Adyen’s built its business by chasing after the big fish. For example, Adyen powers payments for the crafting marketplace Etsy, and it recently wooed eBay away from PayPal.  However, now that it’s established itself, the company is started to court smaller businesses.

Despite providing merchant accounts (which historically translates to better stability), Adyen has one stipulation that makes it very unsuitable for high-risk businesses: a chargeback threshold. The industry standard is 1% (and that includes Stripe) but Adyen will terminate an account or implement holds if it exceeds a 0.5% chargeback rate. Adyen is also unsuitable for low-volume businesses because of its monthly minimum of 1,000 transactions or $120 per month in processing fees.

However, when you get past those concerns, you’ll find that Adyen is most similar to Stripe in its global reach and support for localized payment methods across Europe, the Asia-Pacific region, and North and South America. Adyen even accepts PayPal transactions, which is something rarely available from companies not owned by PayPal. There’s also a decent list of supported partners and integrations.

Adyen has very powerful marketplace tools (it would have to, given the big marketplaces it’s landed as clients), but also a secure, customizable checkout form. It also has advanced tools to reduce chargebacks, increase success rates of transactions, and analyze your business data, all at no additional charge. Plus, Adyen has incorporated support for in-person payments into its package, making it an all-in-one solution. All of that makes it a powerful contender for growing businesses that need advanced technology to power their payments system.

  • Merchant Account or Third-Party: Merchant Account
  • Pricing Model: Blended (interchange-plus for Visa, MasterCard, Discover; flat-rate for Amex)
  • Processing Costs: 0.6% + $0.12 markup for Visa, MasterCard and Discover; 3.95% + $0.12 for Amex; $0.25 + $0.12 (totaling $0.37) for ACH Direct Debit
  • Suitable For Low Volume: Yes
  • Suitable For High-Risk Businesses: No

Alternative #3: PayJunction

PayJunction (read our review) is one of the most developer-friendly merchant account options. While its business model and product offerings aren’t exactly innovative, Payjunction does offer interchange-plus pricing with no additional fees if you process more than $10,000 per month. (Below that threshold, a $35 monthly fee applies).  The markup is a little high, but with no per-transaction fee and no other fees, it balances out and can still yield savings. And then consider that you get access to all of PayJunction’s developer tools and extra features at no additional cost.

One of the more interesting features PayJunction offers is the ability to capture signatures on emailed receipts. Customers need only open the email and they can sign the receipt on almost any device. This is a great option especially for businesses that accept orders via phone, social media, and other nontraditional channels. But more than that, you also get a virtual terminal with invoicing and recurring billing capabilities. PayJunction’s gateway, Trinity, integrates with a huge assortment of shopping carts as well as POS systems to give you an all-in-one setup.

PayJunction isn’t clear about its stance on high-risk businesses, but if you’re not qualified you’ll be told up front instead of after you’ve already set up your account and started accepting orders. In addition, the whole system is not quite as full featured as you get with Stripe, but it can handle all the essentials. Really, the account stability and pricing are the biggest perks of processing with PayJunction. It certainly doesn’t hurt that the company has an excellent reputation for customer service, either.

  • Merchant Account or Third-Party: Merchant account
  • Pricing Model: Interchange-plus
  • Processing Costs: Interchange + 0.75%
  • Suitable For Low Volume: No
  • Suitable For High-Risk Businesses: Not Stated

Alternative #4: Square

Probably the least-expected entry on this list is Square (read our review). What’s a mobile card reader and POS doing in an article about online gateways and developer platforms? But Square has expanded its platform to include eCommerce integrations and a developer platform for ecommerce, point of sale, and much more. It offers seamless advanced inventory management at no additional charge, plus online order management, a customer database, and very solid reporting tools.

Square doesn’t support in-app payments the way Stripe does, and its supported payment types are more limited; however, the biggest drawback is that Square is only available to merchants in a handful of countries whereas Stripe (and many of the other options on this list) have a much more global reach. In addition, Square is a third-party processor just like Stripe, meaning merchants can get set up quickly, but face a potential for funding holds and account terminations.

However, Square’s documentation and APIs allow you to build a system that can easily accommodate online and in-person sales, reporting, inventory, and more, using Square’s already robust tools. Square doesn’t match Stripe for number of integrations, but it does have many options and they span a huge assortment of merchant needs. Check out the app marketplace for a complete list.

It’s not exactly common to find service providers who work seamlessly with online and in-person sales. Square is one of the few that does it exceptionally well, especially when you consider the extras that get thrown in at no charge. The lack of iOS/Android support is disappointing, but not necessarily a deal breaker if you don’t have a native app.

  • Merchant Account or Third-Party: Third-Party
  • Pricing Model: Flat-Rate
  • Processing Costs: 2.9% + $0.30 for online transactions, 2.7% for swiped/dipped/tapped transactions
  • Suitable For Low Volume: Yes
  • Suitable For High-Risk Businesses: No

Alternative #5: PayPal

PayPal (read our review) probably comes to mind when most people think of online payments. The commerce giant has made itself a trusted household name among consumers. But the fact that online transactions redirect and are completed on PayPal’s site isn’t a great solution for every merchant in 2018. PayPal does offer hosted payment pages but they come at a cost of $30/month in addition to payment processing. Recurring billing also comes at a cost of $10/month.

PayPal does offer a suite of developer tools for businesses interested in a custom setup. In addition to providing access to Express Checkout and the Braintree SDK, PayPal’s APIs include tools for invoicing, mass payouts, and marketplaces. However, despite being the parent company of Braintree, it seems that PayPal and its infrastructure haven’t quite kept pace. For starters, PayPal’s marketplace tools are fairly new (introduced in 2017) and they are only available after you go through an application and vetting process. And while the developer tools exist, most of the chatter says they don’t match Stripe for quality.

On the plus side, PayPal also supports a wide assortment of integrations for merchants, including POS integrations. It’s easy to create an all-in-one setup that addresses in-person and online payments. However, the default structure is a little bit cumbersome and getting access to features such as a hosted checkout page will cost quite a bit, compared to other providers who offer them at no additional cost.

In addition, like Stripe and Square, PayPal is a third-party processor and some merchants do run a greater risk of encountering a funding hold or account termination. PayPal certainly has most of the tools merchants need and a widely recognized name. It probably isn’t the best solution if you have extremely specialized needs, but if you want an all-in-one payments experience with some great add-ons thrown in, PayPal could be a good choice.

  • Merchant Account or Third-Party: Third-Party
  • Pricing Model: Flat-rate
  • Processing Costs: 2.9% + $0.30 for online transactions; 2.7% for swiped/dipped/tapped transactions
  • Suitable For Low Volume: Yes
  • Suitable For High-Risk Businesses: No

 

Alternative #6: WePay

We Pay (read our review) isn’t built for merchants who want to accept payments online. It’s actually a payments service for platforms that want to build native payments into their apps or services. That means shopping carts that want to offer a seamless payment processing option, along with crowdfunding, event management, and SaaS products, as well as marketplaces. Even though merchants can’t sign up for processing directly, WePay makes the cut because platform payments is one of Stripe’s core offerings, too.

WePay supports both web-based and in-app payments for iOS and Android, and in addition to cards and ACH transactions, you can implement Android and Apple Pay for the Web, so you have more options for payment methods. You can also use WePay to create a white label mobile POS with the option for a branded card reader.

As with Stripe, WePay is a third-party aggregator, which means that not all merchants who are onboarded via one of these platforms will be approved and they may face sudden account holds or terminations. Also, pricing isn’t disclosed and it’s up to the platform builder to decide what sort of rates it wants to charge and whether it wants to take a cut of the processing costs.

  • Merchant Account or Third-Party: Third-Party
  • Pricing Model: Not Stated
  • Processing Costs: Not Stated
  • Suitable For Low Volume: No
  • Suitable For High-Risk Businesses: No

Final Thoughts

Stripe is a great option for many businesses. The fact that there are no monthly minimums makes it great for startups, and the number of supported countries, supported payment options and supported currencies make it a serious contender for global businesses in particular. The various features make Stripe especially well suited to high-tech businesses that aren’t satisfied with the standard fare in a payments processor.

But the other companies we’ve looked at are all great options, too. And in the end, they all have their benefits and their drawbacks. Stripe, PayPal, Square, and WePay are all third-party processors that put merchants at risk of account freezes and terminations. What’s right for one business may not be right for another.

That’s why you need to have a really good idea of which features are absolute must-haves. You don’t want to start the process of establishing an account and creating an integration only to find out that a processor lacks a key feature and there’s no workaround. You should also consult your developer, as they have hands-on that can help you make a decision.

And finally, you should consider what features you might need in the future as your business grows. Do you plan to expand your sales channels? Do you want to launch additional products or service plans? Think about where you want your business to grow in the future. If you find a processor that can handle everything you want now and in the future, you won’t need to worry about the hassle of switching processors.

As always, thanks for reading! Have questions? Experience using these processors? We’d love to hear from you so leave us a comment and weigh in with your thoughts!

The post Stripe Payments Competitors And Alternatives appeared first on Merchant Maverick.

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A Guide To QuickBooks Online Pricing

Purchasing accounting software would be a whole lot easier if you just had a magic lamp. One rub, and voila! You’ve got the perfect software for you at the best price.

We don’t have a magic lamp for you, but if you’re wondering “how much does Quickbooks Online cost?” this post is the next best thing.

Read on for a breakdown of the three different QuickBooks Online (QBO) plans. We’ll discuss how to know which plan is right for you and what additional costs to expect so you can know exactly what you’re getting into before deciding to purchase QuickBooks Online.

Read on for more details about QB Online pricing!

QuickBooks Online Pricing

How much is QuickBooks Online? It’s a more complicated question than you might think. QBO offers three subscription plans, so there is no one QuickBooks Online price. Each tier gives you access to more features and users. Payments are made monthly, and no annual contracts are required.

QuickBooks is almost always offering a discount on their website, so be sure to check for any promotions before buying.

Note: Discounts are invalid if a customer uses the free 30-day trial before purchasing. Also, if you are switching over from QuickBooks Desktop to QuickBooks Online, you may be eligible for even better discounts. Contact the QuickBooks Online sales team for more details.

Simple Start Plan

Simple Start is the smallest QuickBooks Plan. The QuickBooks Online Simple Plan costs $15/mo and supports one user plus two accountants.

Here are the features that come with QuickBooks Simple Start:

  • Unlimited invoices and estimates
  • Contact management
  • Expense tracking
  • Live bank feeds
  • 27 reports
  • 200+ integrations

Essentials Plan

The QuickBooks Essentials Plan costs $35/mo and is a step up from the Simple Start plan. QuickBooks Online Essentials comes with three users plus two accountants and more features.

Here are the features you get with QuickBooks Online Essentials:

  • Unlimited invoices and estimates
  • Contact management
  • Expense tracking
  • Live bank feeds
  • 53 reports
  • 200+ integrations
  • Accounts payable
  • Time tracking

Plus Plan

QuickBooks Online’s largest plan, QuickBooks Plus, costs $50/mo. QuickBooks Online Plus (not to be confused with QuickBooks Desktop Pro Plus) offers five users plus two accountants and the most advanced features.

Here are the features that come with QuickBooks Plus:

  • Unlimited invoices
  • Unlimited estimates
  • Expense tracking
  • Live bank feeds
  • 75 reports
  • 200+ integrations
  • Accounts payable
  • Time tracking
  • Project management
  • Inventory
  • Class tracking
  • Tax support

Which QBO Version Is Right For Me?

When deciding which version of QuickBooks Online is best for your small business, it should come down to your business’s need and budget. Here’s a breakdown of how the Simple Start, Essentials, and Plus plans compare:

Simple Start Essentials Plus
Pricing $15/mo $35/mo $50/mo
Tech Support Included Included Included
Invoicing ✓ ✓ ✓
Contact Management ✓ ✓ ✓
Expense Tracking ✓ ✓ ✓
Number Of Reports 27 53 75
Time Tracking ✘ ✓ ✓
Accounts Payable ✘ ✓ ✓
Project Management ✘ ✘ ✓
Inventory ✘ ✘ ✓
Tax Support ✘ ✘ ✓

Now that you can clearly see the difference between each QuickBooks Online plan, ask yourself these questions:

  • Which features do I need to run my business?
  • How many users do I need?
  • How much can I afford to spend each month?

These questions should help you narrow down which QuickBooks Online plan is right for you.

Additional Fees

In addition to the monthly subscription price, there are a few other QuickBooks Online charges to be aware of. Intuit is not always the most forthcoming about these extra fees, which is why we want to highlight them now. You should know exactly how much QuickBooks Online is going to cost before you commit to a plan.

Additional Users

As we mentioned earlier, QuickBooks Simple Start supports one user, QuickBooks Essentials supports three users, and QuickBooks Plus supports five users.

However, if you have the QuickBooks Plus plan, you can add up to 25 users for an additional cost. Here’s how additional users will affect your overall monthly price.

  • 0-5 Users: $50/mo
  • 6-10 Users: $65/mo
  • 11-25 Users: $95/mo

There is a slight discount on additional users if you pay annually instead of monthly. Contact QuickBooks for more details.

Payroll

QuickBooks Online offers two types of payroll: do it yourself payroll and full-service payroll. The self-service payroll option requires you to run payroll and file your payroll taxes on your own. With the full-service payroll option, QuickBooks does everything for you.

QuickBooks Online payroll costs between $39 – $99/mo plus $3/per employee. Intuit often runs payroll promotions for both existing QuickBooks Online users and brand new QuickBooks users. Be sure to visit their website to find a QuickBooks payroll discount.

Tax Forms

QuickBooks Online supports W-2s and 1099-MISCs. You can order tax forms directly from Intuit. The cost begins at $17.95 and varies depending on which form you need and how many. If you purchase QuickBooks Online payroll these forms may be included, depending on the payroll plan you choose.

Checks

You can purchase checks, voucher checks, business wallet checks, and more from QuickBooks. Standard checks begin at $56.99/per 50 checks. Prices vary by check type and amount.

QBO Add-Ons & Payment Gateways

In addition to the fees above, there are a few other extra costs you should consider before purchasing QuickBooks Online:

Add-Ons

Integrations are third-party add-ons that give you additional features and capabilities. For example, common software programs like Shopify, TSheets, and MailChimp are all integrations. QuickBooks Online offers 200+ integrations to choose from.

Most integrations come with their own monthly subscription fees, so be sure to account for these extra costs when calculating how big of a dent QuickBooks Online is going to leave in your wallet.

Payment Gateways

Payment gateways allow you to accept payments from your customers. Common payment processing options include PayPal, Stripe, Square, and Authorize.Net. QuickBooks Online offers around 10 payment processors or you can use QuickBooks Payments.

You can read our review of Intuit Merchant Services (QuickBooks Payments) for more information, but the basic charges are as follows:

  • $1.00 for ACH fees
  • 2.4% + $0.30 for swiped cards
  • 3.5% + $0.3o for invoices
  • 3.5% + $0.30 for keyed in cards

Whether you use QuickBooks Payments or another payment gateway, be sure to take potential credit card fees into account when calculating how much you’ll be spending on software each month.

Final Thoughts

Now that you know exactly how much each QuickBooks Online plan costs you can make an informed business decision about which version is right for you. Make sure to factor in the hidden costs!

If you want to learn more, read our complete QuickBooks Online review or get started with a free trial. If you still aren’t convinced that QuickBooks Online is the best choice for your business, check out our Complete QuickBooks Products Comparison Guide or take a look at the Best QuickBooks Online Alternatives.

Get Started With QuickBooks Online

The post A Guide To QuickBooks Online Pricing appeared first on Merchant Maverick.

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The Complete Guide To QuickBooks Desktop Pricing

A Quick Guide To QuickBooks Pro Pricing

The Price Is Right is more than just a funny game show; it’s a real principle that we judge nearly all of our purchases by. If the price is right, then it’s a good investment — if you don’t get enough bang for your buck, you’re likely to walk away and find something else.

If you’re considering purchasing QuickBooks, you’re probably wondering this same thing: how much is this going to cost me? And is that cost worth it?

With three distinct QuickBooks Desktop options, the pricing structure of QuickBooks Desktop can be confusing, to say the least. What’s more, Intuit makes it incredibly difficult to track down prices for all of the additional charges you may face. That’s why we’ve created this post. By the end, you’ll know how much QuickBooks Pro, Premier, and Enterprise cost and be aware of any additional fees you might encounter.

Read on to learn more.

QuickBooks Desktop Products

There are three different QuickBooks Desktop products: QuickBooks Pro, QuickBooks Premier, and QuickBooks Enterprise. These locally-installed desktop accounting programs are similar, with the same UI organization and design. What sets these three programs apart is their features, pricing, and target business type and size.

  • QuickBooks Pro: Ideal for small businesses with 1-3 users.
  • QuickBooks Premier: Ideal for small to medium businesses with 1-5 users.
  • QuickBooks Enterprise: Ideal for large businesses with 1-30 users.

In the next few sections, we’ll cover the pricing structures of QuickBooks Pro, Premier, and Enterprise in more detail. We’ll also discuss the features included with each product and give you some guidance on how to choose the right QuickBooks Desktop edition for your business.

QuickBooks Pro Pricing

You have two options when it comes to buying QuickBooks Desktop Pro (sometimes referred to as QuickBooks Desktop or QuickBooks Desktop Pro). You can either purchase a single QuickBooks Pro license or you can purchase an annual QuickBooks Pro subscription (called QuickBooks Pro Plus or QuickBooks Desktop Pro Plus). There are a few differences between the license and the subscription, which we will cover in more detail, but the main difference is the price.

QuickBooks Pro

A QuickBooks Pro license costs $299.95 on Intuit’s website. While you can purchase a QuickBooks Pro license elsewhere, Intuit often runs promotions where this cost is discounted.

A QuickBooks Pro license is good for three years, after which Intuit drops support for the product. You can still use the software after the three years are up, but the Intuit team won’t be able to help you if you have any questions or run into any issues. This license supports a single user and is locally-installed. You can install the product on up to three computers; however, this creates three separate company files, so your company file data will not be synced from computer to computer.

Here are some features that come with QuickBooks Pro:

  • Invoices and estimates
  • Contact management
  • Expense tracking
  • Journal entries
  • Chart of accounts
  • Accounts payable
  • Inventory
  • Project management
  • Time tracking
  • Reports
  • Budgeting
  • Tax support

For more features, read our complete QuickBooks Desktop Pro review.

QuickBooks Pro Plus

QuickBooks Pro Plus costs $299.95 each year. Instead of paying a one-time flat fee of $299.95, you’ll be paying for an annual subscription. The annual subscription comes with all of the same features as QuickBooks Pro, but you also receive:

  • Annual upgrades
  • Free phone support
  • Free automatic data backups

QuickBooks Pro Plus is also often discounted on the Intuit website.

QuickBooks Pro vs QuickBooks Pro Plus

When choosing between QuickBooks Pro and QuickBooks Pro Plus, it really comes down to your business’s needs and budget. As we mentioned earlier, each version comes with the same exact features, so the main difference is the price:

QuickBooks Pro QuickBooks Pro Plus
Pricing $299.95 $299.95/yr
Annual Upgrades $299.95 Included
Phone Support $89.95/3 mo Included
Data Backups $9.95/mo Included

If you plan to use a QuickBooks Pro license for three years before switching and don’t mind paying extra for phone support, QuickBooks Pro price is a more economical choice. However, if you want annual upgrades and anticipate needing a lot of customer support, QuickBooks Pro Plus might pay off in the end.

To determine which version is right for you, consider these questions:

  • Do I want annual upgrades or can I use the same edition for three years?
  • Do I have the budget to support an annual subscription?
  • Do I need phone support?
  • Do I want automatic data backups?

Additional QuickBooks Pro Fees

When considering purchasing QuickBooks, there are several additional fees to be aware of. Intuit isn’t always very forthcoming with these fees and their prices, which is why we wanted to share them.

QuickBooks Payroll

QuickBooks offers three payroll plans: Basic, Enhance, and Full-Service. QuickBooks payroll pricing ranges from $29/mo – $109/mo depending on your businesses needs. Each plan also charges $2/ per employee. Learn more about what each QuickBooks payroll plan offers.

Note: QuickBooks is often running payroll promos, so be sure to take advantage of any discounts offered.

Upgrades

QuickBooks Pro users can purchase an upgrade for $299.95. Annual upgrades are included with the QuickBooks Pro Plus plan.

Additional Users

Additional users cost $250/per user. There is a maximum of three users total for QuickBooks Pro and QuickBooks Pro Plus.

Tech Support

When it comes to customer service, most representatives all give you a different quote on how much support costs. There is only one fee that is consistent across the board: tech support is $89.95/3 mo.

QuickBooks Pro Plus comes with built-in tech support. Some QuickBooks Pro issues are also covered for free, like error codes and installation support.

Live Bank Feeds

Some banks charge a fee for connecting directly with QuickBooks via live bank feeds. This fee can run anywhere from $10-$15/mo depending on your banking institution.

Automatic Data Backups

Backing up a single PC costs $99.95/yr or $9.95/mo; backing up a company file costs $49.95/yr or $4.95/mo. Automatic data backups are included with the QuickBooks Pro Plus plan.

Hosting

If your company is in need of mobility and cloud capabilities, you can purchase online hosting at an additional cost. QuickBooks partners with Right Networks to provide hosting. Hosting costs an additional $450/yr per user.

Tax Forms

QuickBooks Pro supports W-2s, 1099s, W-3s, and 1096s. You can order tax forms directly from Intuit. The cost begins at $17.95 and varies depending on which form you need and how many. Tax forms are included with the Enhanced and Full-Service payroll plans.

Checks

You can purchase checks, voucher checks, business wallet checks, and more from QuickBooks. Standard checks begin at $56.99/per 50 checks. Prices vary by check type and amount.

Now you have a clear idea of exactly how much QuickBooks Pro costs. If you’re already sold on QuickBooks Pro, read our complete QuickBooks Pro review or go ahead and get started with the software. If you’d like to learn about the other QuickBooks Desktop pricing options, read on.

Read Our QuickBooks Pro Review

Get Started With QuickBooks Pro

QuickBooks Premier Pricing

QuickBooks Premier’s pricing structure is the exact same as QuickBooks Pro’s. There are two options when it comes to purchasing QuickBooks Desktop Premier. You can either purchase a QuickBooks Premier license (sometimes referred QuickBooks Desktop Premier), or you can purchase an annual QuickBooks Premier subscription (called QuickBooks Premier Plus or QuickBooks Desktop Premier Plus). There are a few differences between the license and the subscription, which we will cover in more detail, but the main difference is the price.

QuickBooks Premier

A QuickBooks Pro license costs $499.95 on Intuit’s website. While you can purchase a QuickBooks Premier license elsewhere, Intuit is often running promotions where this cost is discounted.

If you purchase a QuickBooks Premier license, the license will last you three years, after which Intuit drops support for the product. (You can still use the software for more than three years, but the Intuit team won’t be able to help you if you have any questions or run into any issues). This license supports a single user and, like QuickBooks Pro, is locally-installed onto a computer. Again, like you can with QuickBooks Pro, you can install the product on up to three computers, though you’ll run into the same problem with information syncing from one computer to another.

Here are some features that come with QuickBooks Premier:

  • Invoices and estimates
  • Contact management
  • Expense tracking
  • Journal entries
  • Chart of accounts
  • Accounts payable
  • Inventory
  • Project management
  • Time tracking
  • Reports
  • Budgeting
  • Tax support
  • Sales orders

For a full list of features, read our complete QuickBooks Premier review.

QuickBooks Premier Plus

QuickBooks Premier Plus costs $499.95 each year. Instead of paying a flat fee of $499.95, you’d be paying for an annual subscription. The annual subscription comes with all of the same features as QuickBooks Premier, but you also receive:

  • Annual upgrades
  • Free phone support
  • Free automatic data backups

QuickBooks Premier Plus is often discounted on the Intuit website.

QuickBooks Premier vs QuickBooks Premier Plus

Since both QuickBooks Premier and QuickBooks Premier Plus offer the same software features, which version is right for you will depend entirely on your business’s budget and needs. These are the main pricing differences between the two options:

QuickBooks Premier QuickBooks Premier Plus
Pricing $499.95 $499.95/yr
Annual Upgrades $499.95 Included
Phone Support $89.95/3 mo Included
Data Backups $9.95/mo Included

If you will use a QuickBooks Premier license for three years before switching and don’t mind paying extra for phone support, QuickBooks Premier could save you a big chunk of money. However, if you want annual upgrades and anticipate needing a lot of customer support, QuickBooks Premier Plus might be worth it in the long run.

To determine which version is right for you, consider these questions:

  • Do I want annual upgrades or will I use the same software for three years?
  • Do I have the budget to support an annual subscription?
  • Do I need phone support?
  • Do I want automatic data backups?

QuickBooks Premier Industry Editions

One of the biggest difference between QuickBooks Pro and QuickBooks Premier is that Quickbooks Premier offers six industry-specific version of the software in addition to the standard version. These industry editions add customized features and reports to better fit your businesses needs.

You can choose the Standard Edition of QuickBooks Premier or one of these six editions at no additional cost:

  • Contractor
  • Manufacturing & Wholesale
  • Nonprofit
  • Retail
  • Professional Services
  • Accountant

Visit QuickBooks Premier’s webpage to learn everything these versions are capable of.

Additional QuickBooks Premier Fees

QuickBooks Premier has almost all of the same potential additional fees as QuickBooks Pro, with a few minor variations in cost. Be sure to take these into consideration when determining how big of a dent QuickBooks Premier is going to leave in your wallet.

QuickBooks Payroll

QuickBooks offers three payroll plans: Basic, Enhance, and Full-Service. These plans range from $29/mo – $109/mo plus $2/ per employee. Learn more about what each QuickBooks payroll plan offers.

Note: QuickBooks is often running payroll promos, so be sure to take advantage of these discounts.

Upgrades

For Premier, the QuickBooks upgrade price is $499.95. Annual upgrades are included with the QuickBooks Premier Plus plan.

Additional  Users

Additional users cost $450/per user. There is a maximum of five total users for QuickBooks Premier and QuickBooks Premier Plus.

Tech Support

Like QuickBooks Pro, QuickBooks Premier tech support costs $89.95/3 mo. QuickBooks Pro Plus comes with built-in tech support. Some QuickBooks Premier issues are also covered for free, like error codes and installation support.

Live Bank Feeds

Some banks charge a fee for connecting directly with QuickBooks via live bank feeds. This fee can cost anywhere from $10-$15/mo depending on your banking institution.

Automatic Data Backups

Backing up a single PC costs $99.95/yr or $9.95/mo; backing up a company file costs $49.95/yr or $4.95/mo. Automatic data backups are included with the QuickBooks Premier Plus plan.

Hosting

If your company is in need of mobility and cloud capabilities, you can purchase online hosting at an additional cost. QuickBooks partners with Right Networks to provide hosting. Hosting costs an additional $450/yr per user.

Tax Forms

QuickBooks Premier supports W-2s, 1099s, W-3s, and 1096s. You can order tax forms directly from Intuit. The cost begins at $17.95 and varies depending on which form you need and how many. Tax forms are included with the Enhanced and Full-Service payroll plans.

Checks

You can purchase checks, voucher checks, business wallet checks, and more from QuickBooks. Standard checks begin at $56.99/per 50 checks. Prices vary by check type and amount.

Now that you know exactly how much QuickBooks Premier costs, you can make an informed decision about whether or not it’s right for you. If so, get started using the software right away, or read our complete QuickBooks Premier review for more details.

Read Our QuickBooks Premier Review

Get Started With QuickBooks Premier

QuickBooks Enterprise Pricing

Unlike QuickBooks Pro and Premier, QuickBooks Enterprise is only available through a subscription. For Enterprise, there are three QuickBooks price levels: Silver, Gold, and Platinum.

Each plan varies significantly in terms of feature availability and pricing.

Silver

QuickBooks Enterprise Silver starts at $1,100/yr. This number can vary significantly business by business.

The price ranges depending on how many users your business needs. You can calculate how much your QuickBooks Enterprise software will cost on the Intuit website by inputting in the number of users you need. (To give you an idea of how much this price fluctuates, one user on the Silver plan would cost $1,100/yr, while 30 users would cost upwards of $7,000/yr). Luckily, Intuit is often running promotions and discounts on the Intuit website.

Here are some of the features QuickBooks Enterprise Silver includes:

  • Invoices and estimates
  • Contact management
  • Expense tracking
  • Journal entries
  • Chart of accounts
  • Accounts payable
  • Inventory
  • Project management
  • Time tracking
  • Reports
  • Budgeting
  • Tax support
  • Sales orders
  • Advanced reporting
  • Lead management
  • Loan manager
  • Business plan tool

These features are available in every QuickBooks Enterprise subscription. Read our complete QuickBooks Enterprise review for more details.

Gold

QuickBooks Enterprise Gold starts at $1,100/yr. The price ranges significantly depending on how many users you need.

In addition to the basic QuickBooks Enterprise features, QuickBooks Enterprise Gold also includes payroll services.

Platinum

QuickBooks Enterprise Platinum starts at $1,760/yr.  Again, the price varies depending on how many users your business needs.

In addition to the features offered by the Silver and Gold plans, QuickBooks Enterprise Platinum adds advanced inventory and advanced pricing capabilities.

Note: With the purchase of any QuickBooks Enterprise plan, you receive Intuit Field Management access for a single user.

Silver vs Gold vs Platinum

If we’re talking about jewelry the answer is obviously platinum, but when it comes to accounting software the best QuickBooks Enterprise version is going to depend entirely on your business’s needs and budget. Here’s a breakdown of how each QuickBooks Enterprise plan compares:

Silver Gold Platinum
Pricing $1,100+/yr $1,430+/yr $1,760+/yr
Annual Upgrades Included Included Included
Phone Support Included Included Included
Data Backups Included Included Included
Basic Features ✓ ✓ ✓
Payroll $29-$109/mo Included Included
Advanced Inventory ✘ ✘ ✓
Advanced Pricing ✘ ✘ ✓

If you need payroll, advanced inventory, and advanced pricing, then Platinum is the clear winner. If you need more users than you can get with QuickBooks Premier, but don’t need payroll or the advanced features, then maybe Silver is a better option.

To determine which version of QuickBooks Enterprise is best for your business, ask yourself these questions:

  • Do I have the budget for QuickBooks Enterprise?
  • Do I need payroll included or will I save money by paying for a payroll add-on each month?
  • Do I need advanced inventory or advanced pricing?

Most importantly, ask yourself if the benefits of Enterprise outweigh the steep costs. If Quickbooks Premier can do almost everything you need it to, it might be worth the slight downgrade in terms of features.

QuickBooks Enterprise Industry Editions

Once you’ve decided if Silver, Gold, or Platinum is right for your business, there’s one more question to ask yourself: should I use the standard version of QuickBooks Enterprise or one of the six industry-specific versions?

Like QuickBooks Premier, QuickBooks Enterprise offers six industry-specific editions of the software:

  • Contractor
  • Manufacturing & Wholesale
  • Nonprofit
  • Retail
  • Professional Services
  • Accountant

Each of these versions gives you access to specialized features and reports at no additional cost. Read our Quick Guide To The 6 Industry-Specific Editions of QuickBooks Enterprise for more details.

Additional QuickBooks Enterprise Fees

QuickBooks Enterprise has significantly fewer additional fees than QuickBooks Pro and Premier as many features are included with your annual subscription. For example, all QuickBooks Enterprise plans include annual upgrades and automatic data backups, and the two larger plans have built-in payroll. However, there are a few other fees to be aware of.

Payroll

QuickBooks Enterprise Gold and Platinum include payroll at no additional cost. If you want Quickbooks Enterprise Silver, you will have to pay an additional fee each month. QuickBooks offers three payroll plans: Basic, Enhance, and Full-Service. These plans range from $29/mo – $109/mo plus $2/ per employee. Learn more about what each QuickBooks payroll plan offers.

Note: QuickBooks is often running payroll promos, so be sure to take advantage of these discounts.

Hosting

If your company is in need of mobility and cloud capabilities, you can purchase online hosting at an additional cost. QuickBooks partners with Right Networks to provide hosting. For Enterprise, the QuickBooks hosting price is around $50/mo per user. For an exact quote, contact QuickBooks Enterprise’s support team directly.

Intuit Field Service Management

With a QuickBooks Enterprise subscription, you automatically get Intuit Field Service management access for one user. Intuit does not disclose the cost of additional users so contact Intuit’s Field Service Management team directly for a quote.

Tax Forms

QuickBooks Enterprise supports W-2s, 1099s, W-3s, and 1096s. You can order tax forms directly from Intuit. The cost begins at $17.95 and varies depending on which form you need and how many. Tax forms are included with the Enhanced and Full-Service payroll plans.

Checks

You can purchase checks, voucher checks, business wallet checks, and more from QuickBooks. Standard checks begin at $56.99/per 50 checks. Prices vary by check type and amount.

If QuickBooks Enterprise’s pricing didn’t scare you off, take the software for a spin with a free trial or read our complete QuickBooks Enterprise review for more information.

Read Our QuickBooks Enterprise Review

Get Started With QuickBooks Enterprise

Other QuickBooks Desktop Costs To Consider

So we’ve already covered how much QuickBooks Pro, Premier, and Enterprise cost and all of the additional fees to expect with each. But there are a few other costs you’ll want to consider.

Add-Ons

Integrations are third-party add-ons that give you additional features and capabilities. For example, software like Shopify, TSheets, and MailChimp are all integrations. QuickBooks Pro offers 170+ integrations to choose from; QuickBooks Premier has 160+ integrations and QuickBooks Enterprise offers 160+ integrations.

Most integrations come with their own monthly subscription fees, so be sure to account for these extra costs when calculating how much QuickBooks is going to set you back.

Payment Gateways

Payment gateways allow you to accept payments from your customers. Common payment processing options include PayPal, Stripe, Square, and Authorize.Net. QuickBooks Pro offers 14 payment processing integrations or you can use QuickBooks Payments. QuickBooks Premier and Enterprise offer significantly fewer payment gateways, so you’re basically looking at QuickBooks Payments.

QuickBooks Payments charges:

  • $1.00 for ACH fees
  • 2.4% + $0.30 for swiped cards
  • 3.5% + $0.3o for invoices
  • 3.5% + $0.30 for keyed in cards

Whether you use QuickBooks Payments or another payment gateway, be sure to take the credit card fees into account.

Where Can You Buy A QuickBooks Desktop License?

There are several places you can go to buy a QuickBooks Desktop license. You can purchase a license through Intuit using the QuickBooks Pro, QuickBooks Premier, or QuickBooks Enterprise websites. You will almost always find that QuickBooks is running a discount or promotion online.

Another option is to buy a QuickBooks Desktop license from a QuickBooks reseller, like Staples or OfficeMax. Retailers like Best Buy, Costco, and even Walmart often sell QuickBooks, and Amazon sells the software as well.

The QuickBooks software prices vary from reseller to reseller. Sometimes these places offer a more significant discount than Intuit (especially around Black Friday). Other times, they may be offering a far more expensive deal.

Be sure to explore all of your options before buying to make sure you are getting the best QuickBooks price.

Should You Buy An Older Version Of QuickBooks?

One question people often ask is should I buy an older version of QuickBooks?

The answer (like with so many things) is that it depends.

Generally, QuickBooks Pro, Premier, and Enterprise don’t change significantly year by year. The software usually has a few minor updates, maybe some streamlined features, or new additions each annual upgrade. This is why so many QuickBooks users utilize the same version of QuickBooks Desktop for multiple years, and why it may also be okay to buy an older version.

For example, say you want to buy QuickBooks Pro but don’t need any of the new 2018 updates. You may be able to save some money by buying QuickBooks 2017 from a reseller like Amazon or Best Buy. You can search all of the resellers previously mentioned for the best price on QuickBooks Pro 2017. However, note that the support for this version of QuickBooks will expire faster than if you were to purchase QuickBooks 2018.

There are some instances where I don’t recommend buying an older version of QuickBooks, however. For example, the price for QuickBooks Pro 2014 may be enticing, but you’d essentially be signing up for outdated features and no support. Sure, you could theoretically use the software just fine, but your software would not be supported by the QuickBooks team at all.

That means that whenever you have a question or an issue, you’re completely on your own. QuickBooks customer care won’t help. If you want to purchase a significantly older version of QuickBooks, I recommend seriously weighing the pros and cons first and deciding whether lack of support is really worth the few bucks you’d save with a smaller QuickBooks purchase price.

How To Upgrade Your Current Version of QuickBooks

You can upgrade (or downgrade) your software at any time. You can switch from QuickBooks Pro Plus to QuickBooks Premier Plus, or go from QuickBooks Premier to QuickBooks Pro — whatever your heart desires (and your business requires).

I do have a couple of tips for upgrading so you can get the best QuickBooks price.

  1. If you are planning on upgrading an annual subscription, wait until the end of your annual subscription or switch within 60-days of your annual renewal (QuickBooks has a 60-day satisfaction guarantee where you can receive a refund for your software). This way you aren’t paying twice.
  2. If you are planning on upgrading a QuickBooks license, see if you can wait it out until the latest version of QuickBooks is released. Annual QuickBooks Desktop upgrades are generally released each September. This way, you get the most up-to-date features and can use your software for longer.

Final Thoughts

I know that was a lot of information, but hopefully, this helps clear things up! Now you know everything you could possibly need to know about QuickBooks pricing.

You learned how much QuickBooks Pro, QuickBooks Premier, and QuickBooks Enterprise cost; the differences between QuickBooks Pro and Pro Plus, QuickBooks Premier and Premier Plus, and QuickBooks Silver, Gold and Platinum;  all of the additional costs to expect; and even where to find the best QuickBooks price.

If you’re still not sure which version of QuickBooks Desktop is right for you, take a look at our Complete QuickBooks Product Comparison Guide where we cover the differences between each software and how to pick which one is best for your business. There’s also a side-by-side QuickBooks features and QuickBooks price software comparison chart.

If you want to learn more, check out our complete QuickBooks Pro review, QuickBooks Premier review, or QuickBooks Enterprise review. In each of these reviews, we rate features, customer support, customer reviews, security, and more. We also give links to free trials of each software. Take a look or get started right away with your favorite version of QuickBooks Desktop.

Get Started With QuickBooks Pro

Get Started With QuickBooks Premier

Get Started With QuickBooks Enterprise

The post The Complete Guide To QuickBooks Desktop Pricing appeared first on Merchant Maverick.

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How To Accept Credit Card Payments For Your Small Business

Whether you’ve been in business for a while or are just starting out, you know how important it is to be able to accept credit and debit cards as payment from your customers. Credit card usage has soared over the past twenty years or so, while the use of traditional payment methods such as cash and paper checks has dwindled. Put simply, accepting credit cards will lead to increased sales and happier customers.

Unfortunately, adding credit card acceptance to your suite of business tools is neither easy nor inexpensive. The credit card associations (i.e., MasterCard, Visa, etc.) charge a fee known as interchange every time their cards are used, and you’ll need to sign up with a credit card processor to process your transactions and pay those fees for you. Your processor will, in turn, add a markup to your processing charges to cover their costs, and – in most cases – also charge you a bewildering variety of fees for maintaining your account.

In this article, we’ll provide a brief overview of the requirements you’ll need to meet to set up credit and debit card processing for your small business. There are a huge number of providers out there on the market, all offering different variations on the same basic services that most companies need. We’ll give you a quick and dirty explanation of how credit card processing works, what a merchant account is, and whether you need one to accept credit or debit cards. We’ll explain the various options for taking card payments, including the required hardware and software you’ll need to get started. Finally, we’ll give you some tips to help you avoid having your account suddenly frozen or terminated – a situation you can and should avoid.

If you’re looking for the best credit card processing companies for your business, you should take a look at our favorite payment processor shortlist to get you headed in the right direction.

How Credit Card Processing Works

You don’t need to be familiar with all the intimate details of processing a credit card transaction, but it’s a good idea to have a basic understanding of the steps involved and how they go together. A little knowledge of how processing works can help you avoid some of the common problems that can result when a transaction doesn’t go smoothly.

First, you’re going to need a way to accept your customer’s card data. This can be accomplished using either a traditional credit card terminal or a payment gateway in the case of online transactions. Another option is a software service known as a virtual terminal, which turns your computer into a credit card terminal and allows you to either input the card data manually or read it using a compatible card reader.

Once you’ve input your customer’s card data, it’s sent to your provider’s processing system for approval. Your provider’s network will check with the cardholder’s issuing bank to confirm that funds are available to cover the transaction. For debit cards, this is a simple check of the remaining balance on the banking account linked to the card. Credit cards require that the cardholder won’t exceed their available credit if the transaction is approved. The processing networks will also run a few anti-fraud checks to (hopefully) detect a suspicious transaction. If sufficient funds are available and there aren’t any clear indications of fraud, the transaction is approved, and you can complete the sale.

At the end of the day, you’ll upload all completed credit/debit transactions to your processor’s network for processing. This usually occurs automatically if you’re using a payment gateway or a modern credit card terminal. For each transaction, your processor will deduct both the applicable interchange (which is then forwarded to the cardholder’s issuing bank) and their markup. You’ll receive whatever is left over after these fees have been deducted. It usually takes another two to three days for these funds to be transferred back to your bank account.

From our payment processing infographic:

Do You Need A Merchant Account To Accept Credit Cards?

For many years, the only way to accept credit cards was to open a merchant account. At its most basic, a merchant account is simply an account to deposit funds into from processed credit/debit card transactions. Of course, maintaining a merchant account also requires transaction processing services, equipment and software to process the transactions, security features, and numerous other services, depending on the needs of your business. Traditional merchant accounts tend to end up being rather expensive, and merchant services providers often require that you agree to a long-term contract with a hefty early termination fee in case you close your account before the contract expires. As a result, traditional merchant accounts tend to be expensive, especially for a small business that’s trying to minimize their expenses.

In recent years, an alternative has become available that lowers costs for small businesses while still providing most of the essential features available with a full-service merchant account. Payment service providers (PSPs) allow you to accept credit and debit card transactions without a traditional merchant account. PSPs such as Square (see our review) and PayPal (see our review) have revolutionized the processing industry by offering simple, flat-rate pricing, no fees for basic services, and month-to-month billing that eliminates long-term contracts. They’re able to do this by aggregating accounts together, so you won’t have a unique merchant identification number for your business. PSP accounts are easier to set up, but they’re also vulnerable to sudden account freezes or terminations which can make them a risky proposition for businesses that depend on being able to accept cards without interruption.

Cheapest & Easiest Ways To Accept Credit Cards Without A Merchant Account

There are now quite a few well-known PSPs on the market, each one specializing in providing credit card processing services to particular segments of the business community. Here’s a brief overview of each of the most popular options:

Square:

This is the best all-in-one solution for low-volume users, especially those in the retail sector. Square also supports eCommerce businesses, but doesn’t have quite as many features for online enterprises as its competitors. Square features a mobile processing system that uses a new, EMV-compliant card reader, no monthly fees, month-to-month billing, and a simple flat-rate pricing system that’s more affordable for a small business than a traditional merchant account. See our review for complete details.

Shopify:

This is the best option for eCommerce merchants looking to easily set up a fully-featured webstore. While Shopify has better eCommerce tools than Square, it’s also more expensive. Pricing starts at $29.00 per month for the Basic Shopify Plan, with a flat-rate processing fee of 2.9% + $0.30 per online transaction. Billing is month-to-month, but you can receive a discount if you pay for a year (or two) in advance. See our review for more specifics.

 

PayPal:

Easily the oldest and best-known option for online credit card acceptance, PayPal is now available for retail merchants also. While a standard PayPal account comes with no monthly fee, you’ll have to pay $30.00 per month for the PayPal Payments Pro Plan. This upgraded plan includes a virtual terminal and a hosted payments page. PayPal uses a flat-rate pricing plan for processing fees that’s nearly identical to what Square charges. See our review for details about PayPal’s services.

Stripe Payments:

Stripe logo

Very tech-oriented, Stripe only supports eCommerce businesses. They don’t charge any monthly fees and have no long-term contracts. All transactions are processed at a fixed rate of 2.9% + $0.30 per transaction. Stripe offers a huge library of APIs that allow you to customize your eCommerce website just about any way you like. However, utilizing these features will require either extensive coding experience or the services of a developer. Check out our full review for more details about what Stripe has to offer.

Braintree Payment Solutions:

Braintree Payment Solutions logo

Another eCommerce-only provider, Braintree is very similar to Stripe in terms of features and pricing. The primary distinction is that, unlike Stripe, Braintree is a direct processor. This translates to increased account stability, which is very important for an online business where credit and debit cards are just about the only forms of payment you can accept. Braintree charges 2.9% + $0.30 per transaction, but doesn’t require a monthly fee or a long-term contract. They also offer a variety of developer tools to help you customize your website any way you like. For more details, check out our complete review.

When & How To Set Up A Merchant Account

With so many low-cost alternatives available, you may be wondering why you would ever consider the added expense and complication of a full-service merchant account. The primary reason that merchant accounts are still alive and well today is that for many businesses the overall cost of a merchant account is actually lower – sometimes much lower – than using a payment services provider. How is this possible? It primarily comes down to processing rates and how your monthly volume and average ticket size affect them. With a full-service merchant account, you can obtain interchange-plus processing rates that are significantly lower than the flat rates charged by PSPs. Providers such as Square (see our review) have to charge an inflated processing rate to pay for all the ancillary services they aren’t charging you for with a monthly fee. A traditional merchant account provider bills for those services separately, so they can afford to offer a lower per-transaction markup.

Unfortunately, there’s no easy way to determine the point at which it’s more cost-effective to upgrade to a full-service merchant account. The primary factor you’ll want to look at is your monthly processing volume. Your average ticket size is also important, but to a lesser extent. We’ve seen providers recommend merchant accounts for businesses processing anywhere from $1500 to $10,000 per month at a minimum, and sometimes even more. Where to draw the line will ultimately depend on the unique needs of your business, and what options for upgrading are available to you. You’ll want to compare your current processing costs with an estimate based on a quote from a merchant account provider to see which option is cheaper. Be sure to factor in all the hidden costs that come with merchant accounts. You can usually uncover these in the fine print of your proposed contract.

For more, see our complete guide to credit card processing rates and fees.

Account stability is also an important factor. With a PSP, a single unusually high transaction can be enough to have your account suspended or even terminated. For some businesses, particularly eCommerce merchants, this can be catastrophic. While this situation can still happen with a traditional merchant account also, it’s far less likely and you’ll have better access to customer service to get your account working again if it does occur.

Setting up an account with a PSP is usually very easy. Most PSPs have online application forms that you can fill out and submit without ever having to talk to a sales agent. If you need a card reader, your PSP will mail it to you. Account activation is usually also accomplished online.

Traditional merchant accounts are more complicated to set up. You’ll need to contact the sales team at the provider you’re interested in and negotiate the terms of your agreement. There’s also a lot more paperwork, although some providers now offer you the opportunity to complete your merchant application online. Beware that automation can sometimes work against you when setting up a merchant account, as some sales agents are now using tablet devices to get your electronic signature. This practice often locks you into a long-term contract before you’ve had any chance to review your contract terms and conditions. Insist on a paper copy of all contract documents and study them very carefully before you sign anything. For some suggestions on making this process go more smoothly, please see our article How to Negotiate the Perfect Credit Card Processing Deal.

How To Accept In-Store Credit Card Payments

For retail merchants, you’re going to need at least one credit card machine per location. These days, you have a choice between a traditional countertop credit card terminal and a point of sale (POS) system. Countertop terminals can process transactions, but most models offer little or no other functionality. A POS system, on the other hand, can handle things like inventory management, employee scheduling, and a host of other features to help you run your business. Naturally, POS systems cost more than most countertop terminals, although tablet-based systems such as ShopKeep (see our review) are more affordable (and mobile) than a standalone POS terminal.

Whatever type of equipment you decide to purchase, make sure it’s EMV-compatible. EMV (Europay, MasterCard, and Visa) is now the standard method for accepting credit and debit cards in the United States, and since the EMV liability shift in October 2015, you can be held responsible for a fraudulent transaction if you accept an EMV-enabled card using the magstripe instead of the chip. EMV-compatible terminals are widely available and less expensive than ever. With most customers now carrying EMV cards, there’s really no good reason to continue using a magstripe-only card reader.

If you want the latest and greatest in card acceptance technology, it’s pretty easy to find a terminal or POS system that accepts NFC-based payment methods. NFC stands for near-field communications, and it’s found on payment systems such as Apple Pay, Google Pay, and Samsung Pay. NFC technology is built into most modern smartphones, tablets, and even smartwatches. While it hasn’t seen widespread adoption by the general public yet, it’s gaining in use as more people become aware of its availability and convenience.

Regardless of what type of terminal or POS system you decide to get for your business, we highly encourage you to buy your equipment outright rather than signing up for a lease. Equipment leasing is still being pushed by sales agents, who cite misleading arguments about the low up-front cost and the possibility of writing off the lease payments on your taxes. While these arguments are technically true, they mask the reality that leasing a terminal or POS system will cost you far more in the long run than buying. Equipment leases typically come with four-year contracts that are completely noncancelable. The monthly lease payments will, over the term of the lease, far exceed the cost to simply buy the equipment. Adding insult to injury, you won’t even own your equipment when the lease finally expires. Instead, you’ll either have to continue making monthly lease payments or buy the equipment (often at an inflated price). For more details on why leasing is such a bad idea, see our article Why You Shouldn’t Lease A Credit Card Machine.

How To Accept Credit Card Payments Online

If your business is eCommerce-only, you’ll have it a little easier because you won’t need a credit card terminal or POS system. However, you will need either a payment gateway or at least a virtual terminal to accept payments from your customers. A virtual terminal is simply a software application that turns your computer into a credit card terminal. Mail order and telephone order businesses use them to enter their customers’ credit card data manually. They can also be combined with a card reader (usually USB-connected) to accept card-present transactions. For retail merchants, a virtual terminal can replace a dedicated countertop terminal if you add a card reader. Unfortunately, we haven’t seen many EMV-capable card readers that are compatible with virtual terminals yet.

A payment gateway is a web-based software service that connects your eCommerce website with your processor’s payment networks. Payment gateways allow customers to enter credit card data from wherever they are, as long as they have access to the internet. Most merchant services providers charge a monthly fee (usually around $25.00) for the use of a payment gateway. You might also have to pay an additional $0.05 – $0.10 per transaction for the use of the gateway in some cases. Authorize.Net (see our review) is one of the most popular payment gateway providers, but there are many others today as well. Many of the larger processors now offer their own proprietary gateways that include the same security and ease-of-use features that you’d find in a more well-known gateway. For more information on payment gateways, see our article The Complete Guide to Online Credit Card Processing With a Payment Gateway.

Depending on how many products you sell on your website and the options you want to give your customers, you may or may not need to use an online shopping cart in conjunction with your payment gateway. Shopping carts allow you to feature products, conduct secure transactions online, and perform a variety of other functions related to running your business. You’ll want to ensure that your chosen shopping cart is compatible with your payment gateway before you set up your site. Most of the popular shopping carts today are compatible with almost all of the more well-known payment gateways. For more information on online shopping carts, see our article Shopping Carts 101: How to Choose a Shopping Cart for Your Business.

How To Accept Credit Card Payments With Your Mobile Phone

When Square (see our review) first introduced their original card reader in 2009, it was revolutionary. For the first time, merchants could accept credit or debit cards using their smartphones or tablets. Square was (and still is) a great choice for very small businesses, startups, and merchants who operate seasonally. Naturally, they’ve spawned a lot of competitors, and today almost all merchant services providers offer some type of mobile payment system.

Visit Square

These systems inevitably include both an app for your smart device and a card reader. Unfortunately, many of the apps are very basic and don’t offer the depth of features that Square does. Card readers have lagged behind current technology, with many providers still offering magstripe-only readers. The current trend among smartphone manufacturers to remove the headphone jack has also caused problems, as most mobile card readers use a plug that fits into the jack to connect to the device. Today, Square and a few other providers now offer upgraded card readers that feature both EMV compatibility and Bluetooth connectivity. These card readers are significantly more expensive than the older models, but they’re still cheaper than a traditional countertop terminal. For businesses that need to accept transactions out in the field, they’re lighter and far less costly than wireless terminals, which usually run at least twice as much as their wired brethren and require a separate wireless data plan. For more information on mobile payment systems, please see our article on why accepting credit cards with your phone is the easiest option.

Can You Accept Credit Card Payments For Free?

Whether you ultimately use a PSP or a traditional merchant account, you’re still going to pay several percent from every sale to cover your processing costs. While there are many ways to get this percentage down to a reasonable level and avoid overpaying, at some point you’re going to ask yourself why you have to pay for processing instead of your customers. After all, they’re the ones who consciously choose to pay with credit and debit cards rather than cash or a paper check. Wouldn’t it be nice if there was a way to transfer this expense to your customers rather than having it come out of your profits?

In fact, there is a way to do this. Transferring the cost of processing onto your customers, also known as surcharging, is allowed in 41 states. However, the practice is currently going through a series of legal challenges that will ultimately either lead to it being banned or expanded into all jurisdictions. With surcharging, your processor will calculate the processing charge when a transaction is submitted for approval and add it to your customer’s bill.

Needless to say, your customers aren’t going to like unexpectedly having a few percentage points added to their bill just for using a credit card. For this reason, surcharging isn’t popular with most merchants, and you’ll usually only encounter it in certain industries where it’s become an accepted practice, such as taxi cabs and busses. For most merchants, it’s much easier to “adjust” your prices to cover your anticipated processing costs rather than passing those costs directly onto your customers. For a more in-depth look at surcharging, check out our article The Truth Behind Free Credit Card Processing.

How To Avoid Account Terminations & Funding Holds

Once you’ve got your merchant account up and running, you’ll naturally want it to be available and fully functional every day. While this isn’t normally a problem, account holds, freezes, and terminations sometimes occur. You’ll want to understand how this happens, and what you can do to prevent it from happening to you.

An account hold usually occurs when a single transaction is held up, and you don’t receive the funds you were expecting. In most cases, your processor’s risk department has flagged the transaction as suspicious, and you won’t get your funds until they can investigate and confirm that the transaction is legitimate. A single transaction that’s for much more money than your average ticket size is most likely to trigger a hold. Fortunately, you should still be able to process other transactions while the matter is being resolved.

This isn’t the case with an account freeze, unfortunately. Your processor can and will freeze your account – preventing you from getting paid for previous transactions or processing new ones – if fraud is suspected that would affect your entire account. While the wait can be excruciating, account freezes are usually temporary unless your processor decides to terminate your account.

As the name implies, an account termination is final. Your account is shut down, and you won’t be able to reopen it. The risk of an account termination is higher with a PSP than a traditional merchant account. Account terminations usually occur when your processor determines that you’ve misrepresented your business and the type of goods you’re selling. It doesn’t matter if this was intentional or just an honest mistake on your part. If your business type is one that usually falls into the high-risk category, save yourself the aggravation and get a high-risk merchant account from a provider who specializes in these kinds of accounts. It will cost you more, but you’ll have a much more stable account. For more information on the various hiccups that can affect your merchant account, please see our article How to Avoid Merchant Account Holds, Freezes, and Terminations.

Final Thoughts

If you’ve read this far, you’re probably thinking that merchant accounts and credit card processing are pretty complicated. You’re right! There’s a lot to know, and unfortunately, there’s also a lot of misinformation out there. The credit card processing industry has a lousy reputation for misleading sales practices, high costs, hidden charges, and long-term contracts that are very difficult to get out of. The main reason that PSPs like Square (see our review) have become so popular is that they offer a simpler, more transparent alternative to traditional merchant account providers, both in terms of costs and contract requirements.

For many businesses, however, Square can actually be more expensive than signing up for a traditional merchant account, even when factoring in the various account fees and the cost of buying processing equipment. While we heartily recommend Square for very small businesses and startups, realize that if your business grows large enough, you’ll eventually want to switch to a full-service merchant account. You’ll enjoy lower costs, improved account stability and (hopefully) better customer support. PayPal is also a great choice for eCommerce businesses that are just starting out. Again, if your business grows large enough, a full-service merchant account with a fully-featured payment gateway will be a better choice.

Note that this article only provides a relatively brief overview of the significant factors that affect credit card processing for small businesses. For more information, please take a look at the other articles we’ve linked to above for a deeper dive into subjects you aren’t already familiar with. For an overview of several highly recommended providers, please see our article The 5 Best Small Business Credit Card Processing Companies. You can also compare several excellent providers side-by-side using our Merchant Account Comparison Chart.

The post How To Accept Credit Card Payments For Your Small Business appeared first on Merchant Maverick.

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Stripe VS Braintree

Stripe VS Braintree
✓ Products & Services ✓
Fees & Rates ✓
✓ Sales & Advertising Transparency ✓
✓ Contract Length & Cancellation ✓
Customer Service & Technical Support ✓
Negative Reviews & Complaints ✓
✓ Positive Reviews & Testimonials ✓
Final Verdict  Winner
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Overview

If you need a tech-driven platform to power payments for your business, Braintree Payment Solutions (read our review) and Stripe (read our review) should be at the very top of the list. In addition to very strong developer tools with support for multiple programming languages, both companies are global service that can reach customers all over the world. But does one company excel more than the other? In the Stripe vs. Braintree debate, which company comes out on top?

Here’s the good news: Because their core offerings are so similarly aligned, it’s really easy to draw direct, apples-to-apples comparisons. And in most regards, Stripe and Braintree are very similarly matched. They both cater to some very large and/or very innovative businesses with industry-leading tools for online and mobile commerce, global business, and subscription/billing management.

Before committing to either of these platforms, it’s important to understand that to make the most of them you need advanced coding knowledge or a developer. You can go it alone with minimal knowledge, but you’ll be unable to harness the full potential of Stripe and Braintree. If you’re not tech savvy, another solution may be a better fit.

Braintree differs from Stripe primarily in that it issues merchants with their own merchant accounts, whereas Stripe is a third-party processor that aggregates payments. That means Braintree has much greater account stability than Stripe. Braintree also provides its tools at no additional cost beyond its flat-rate processing, whereas Stripe will assess small fees for the use of select services. So Braintree could very easily become the more cost-effective solution.

However, Stripe has made a name for itself with industry-leading tools, and you’re particularly interested in marketplace or subscription tools, Stripe is the standout option.

Normally, a merchant account is suited to merchants processing more than $10k/month (though some work with merchants with volumes as small as $5k/month). Braintree has no minimum and no monthly fee and says that it works with businesses of all sizes. That’s quite a bit different. With its similar pricing, Braintree is just as attractive an option as Stripe for new and small-but-growing enterprises.

The best solution for a business isn’t immediately clear here. You’ll need to look at what features are must-haves; you’ll need to consider costs. And if you are leaning toward Stripe, it’s worth considering the tradeoffs that you’ll make regarding account stability. Ultimately, it’ll be down to you and your developer to decide whether Stripe or Braintree is right for your business.

Read on for a more in-depth analysis of these two online payment gateways! Got questions? Comments? We’d love to hear from you, so leave us a comment!

Products & Services

Winner: Tie

First things first: both of these companies support all kinds of payments, from directly on a website to inside mobile apps. They both off a choice of pre-built and completely customizable payment forms. They also offer tools for businesses that operate on marketplace or subscription models. Differences between the two platforms really come down more to the nitty-gritty details. You can also find out more about each company and its offerings by checking out our complete Braintree Payments and Stripe reviews.

Braintree Payments

 

Braintree’s payment processing and gateway services support merchants in more than 45 countries, versus 25 for Braintree. However, merchants can reach customers all across the globe with support for 130+ currencies. One of the biggest draws is Braintree’s PayPal integration. Because Braintree is a PayPal owned company, it makes sense that the integration between the two would be seamless.

Braintree’s SDKs support both Android and iOS for mobile developers, as well as six other languages. And you’ll find support for major payment methods across the globe, as well.

Braintree Supported Programming Languages

  • Android/iOS
  • Java
  • .NET
  • Node.js
  • PHP
  • Python
  • Ruby

Braintree Supported Payment Types

  • ACH Direct Debit
  • Credit Cards
  • PayPal
  • Venmo
  • Apple Pay
  • Google Pay
  • Amex Express Checkout
  • MasterPass
  • Visa Checkout
  • UnionPay

Braintree Core Features 

Braintree categorizes its core offerings into four services. I like the way they are grouped because it helps better explain what Braintree is capable of doing for different kinds of businesses.

  • Braintree Direct: If you want to sell directly on your own website, this is the solution for you. Direct includes subscription tools (see below for more information).
  • Braintree Marketplace: Braintree’s marketplace tools allow you to create your own platform and manage the sellers and payouts with automation.
  • Braintree Auth: “Auth” (assuming that’s short for Authorization) is Braintree’s platform for other service companies to integrate the Braintree gateway into their solutions. This allows these companies to securely access their merchants’ data and take certain authorized actions on their behalf. For example, an invoicing company could use Auth to create an integration with their platform and allow Braintree merchants to connect their accounts and populate invoices based on data from the customer vault. Auth is also the tool that lets businesses make it possible to onboard merchants and accept payments natively.
  • Braintree Extend: Formerly called contextual commerce, Braintree has expanded its offerings here. The merchant hosts the payment checkout and transaction data, but is able to share the transaction data with partners. This creates a seamless, frictionless commerce experience for customers and keeps them on your site. Extend would be the appropriate platform for booking sites (hotels, airlines, event tickets, etc.) and other businesses that want to empower merchants/partners to sell through their website or app.

Additional Braintree Features

  • Fraud Management Tools: Braintree separates its fraud management tools into two tiers: Basic, which includes control over AVS and CVV checks, as well as risk threshold analysis. Advanced fraud tools require more work to enable, but include a partnership with Kount, a fraud management service. Kount Standard is offered at no charge, but if you want more control over transactions and your risk management policies, you can implement Kount Custom. You must meet Braintree’s requirements and it will cost more. In addition to all of that, Braintree also supports 3D Secure for additional verification.
  • Multi-Currency Displays And Conversions: Braintree allows merchants to display prices in local currency rather than just the merchant’s default currency, which can help entice international sales. Braintree even automatically converts the currency for you. Global businesses with bases of operation in several countries can connect multiple bank accounts and help reduce processing costs by eliminating the need for conversion.
  • Recurring Billing And Subscription Tools: Braintree has some powerful recurring billing and subscription tools whether you sell software or physical goods. However, you will notice a shortage of some specific features, such as invoicing. Stripe’s suite of tools is more advanced in this regard. However, if invoicing is a concern, don’t forget that Braintree integrates pretty seamlessly with PayPal and so you can use PayPal or another integration as an extension.
  • Account Auto-Updater: Reduce failed transactions and canceled subscriptions with Braintree’s Account Auto-Update feature. Expired and re-issued cards from certain institutions will automatically update with new card data to ensure continuity.
  • Reporting: Braintree offers a smattering of default reports in its control panel, including transaction-level reporting. However, even the company admits that you’ll probably outgrow the standard reports. Braintree’s Reports API allows you to generate custom reporting based on criteria you set. And unlike Stripe, this feature costs nothing at all.
  • Integrations: Braintree does support a variety of integrations, including eCommerce shopping cart software. You can browse available integrations on Braintree’s site.

I certainly think Braintree has everything most merchants will need. It does lack a few features that Stripe offers, but it’s a hugely capable system. And the seamless Payal integration could be a major draw from some merchants who have loyal PayPal customer bases.

Stripe Payments

Stripe is available to merchants in 25 countries at the time of writing this, including some betas. You can check out Stripe’s Global page for a complete list. However, regardless of merchant location, you can accept payments from all over the globe. Stripe actually supports 135+ currencies.

In addition, Stripe’s SDKs include support for Android/iIOS and seven other programming languages. Accepted payment methods depend on the merchant’s location, but Stripe supports many popular local payment methods in the EU and China in particular.

Stripe Supported Programming Languages

  • Android/iOS
  • Go
  • Java
  • .NET
  • Node.js
  • PHP
  • Python
  • Ruby

Stripe Supported Payment Methods 

Stripe’s supported payment methods can be broken down into universal methods and local payment methods. Whereas Braintree focuses on universal payment types, Braintree has worked hard to add support for payment types common in markets such as the EU and China. Let’s start with universal payment types:

  • Alipay
  • Apple Pay
  • Google Pay
  • Microsoft Pay
  • Amex Express Checkout
  • Masterpass by Mastercard
  • Visa Checkout
  • WeChat Pay

Local Payment Methods are only available in their regions where they are most popular, generally speaking:

  • ACH
  • Bancontact
  • EPS BETA
  • Giropay
  • iDEAL
  • P24 BETA
  • SEPA Direct Debit
  • SOFORT
  • WeChat Pay

Stripe Core Features

Stripe claims to offer more than 100 features, though it’s not exactly clear how it defines a “feature.” Still, you can do an awful lot with this company. Here’s a quick primer on what you can expect:

  • Payments: Stripe Checkout is a prebuilt form you can just drop into your site. But if you need something more customizable, Stripe Elements will let you design a form that suits your needs. You can build payments into your site or your mobile app.
  • Connect: Stripe’s Marketplace tools are definitely some of the most robust out there. Build and manage your own platform, including automated payouts to your merchants. Connect also facilitates connecting Stripe to other services (such as building native payments into eCommerce software) in the same way as Braintree Auth.
  • Billing: “Billing” now encompasses all of Stripe’s subscription, invoice, and recurring billing tools. Stripe’s subscription tools have always been powerful, but with the addition of invoice capabilities and the option for metered billing, it’s safe to say that you really can’t beat what Stripe has to offer.

Despite the differences in how these companies market and present their tools, the reality is, Stripe still has many of the same functions as Braintree. They’re just framed and presented in a different way.

Additional Stripe Features:

  • Sigma: Stripe offers an assortment of standard reporting tools in its dashboard. However, if you want more advanced reports, then you’ll need Sigma. For an additional monthly fee (based on volume, see the pricing section below for more details) you can generate custom reports based on SQL queries.
  • Radar: Stripe’s fraud monitoring tools include machine learning to identify and flag suspicious transactions. Merchants can review and override transactions they know to be legitimate, or set up custom rules for fraud transactions, all with far less fuss than you’ll see with Braintree. If you’re very comfortable with fraud management, this is definitely an advantage.
  • Multi-Currency Displays And Conversions: Stripe has spent a LOT of time billing itself as the platform of choice for global businesses. It should come as no surprise then that Stripe allows merchants to display pricing in local currencies and automatically handles the currency conversion. You can connect multiple bank accounts to save money on conversion costs, too.
  • Account Auto-Updater: Keep recurring transactions from failing when customers get new cards. Stripe will automatically update card data in your vault to ensure continuity of subscriptions.
  • Integrations: Stripe has more than 300 integrations with all kinds of other software and services a business might need. The sheer number of supported integrations could be a significant advantage for some merchants. You can browse integrations by categories on Stripe’s “Works With” page.

If everything is starting to sound really similar, it’s because these two companies really are evenly matched in most regards. it comes down to little details — like the fact that Stripe is a third-party processor while Braintree issues traditional merchant accounts. Or the fact that Stripe has far more ready-to-go integrations than Braintree.

Braintree has an advantage in that it’s available to merchants in 15 more countries, but both companies are evenly matched in the number of currencies accepted and their multi-currency displays. Also, Braintree’s pricing model (see below) is also far more straightforward and will save merchants money versus Stripe, which now charges merchants for access to many of its advanced tools.

My overall impression is that for the most part, Stripe is willing to give you more freedom with less oversight. The tradeoff, of course, is account stability.  For example, you have complete control over your fraud monitoring tools and which transactions are approved, but it’s quite possible to make a mistake and find yourself in hot water. Braintree offers a comparable set of features, but there will be a couple more hoops to jump through if you want the same degree of control over fraud management as you get with Stripe.

You’ll also find that Stripe’s subscription tools are far more advanced than Braintree’s. However, an integration (though more costly) could but Braintree on a more even keel here.

All in all, Braintree and Stripe are pretty evenly matched, and it’s hard to call one superior to the other. So much depends on what features you need and what payment methods you want to accept.

Rates & Fees

Winner: Braintree

Baseline pricing for Square and Stripe is pretty simple, and similar. However, because Stripe has started charging for access to some of its features, merchants will find themselves paying more with Stripe than they will with Braintree.

Let’s start with transaction rates:

  • Card Transactions: 2.9% + $0.30 per card transaction for both Stripe and Braintree
  • ACH Processing: 0.75% for Braintree, 0.8% for Stripe (both capped at $5)

If you’re wondering, the $5 cap for ACH transactions would kick in at $625 for Braintree, and about $665 for Stripe transactions. However, Stripe says the $5 cap starts at $625. However, I imagine for many merchants the wibbly-wobbly space between $625 a $665 won’t be much of an issue.

It’s also worth mentioning that with Braintree, you can accept PayPal and PayPal Credit transactions. Those process at the rates determined by your PayPal account, but for the most part, you can expect them to be 2.9% + $0.30.

Both Braintree and Stripe allow you to accept cards from outside your home country. Those will cost an additional 1% per transaction; if the transaction is processed in one currency and settled in another, another 1% fee also applies for both companies.

Discounts and Alternative Payment Plans

I want to point out that Braintree does offer alternative payment plans for some merchants:

  • Interchange-Plus Pricing: Available in Europe as well as to high-volume merchants (more than $80,000/month) in the US.
  • Nonprofit Discount Rate: 2.2% + $0.30  (Amex processed at 3.25% + $0.30)

Braintree doesn’t offer its own micropayments plans, but you can integrate Braintree with PayPal and use PayPal’s micropayments plan (5% + $0.05) instead.

Stripe also offers discounts as well:

  • Volume Discounts: Stripe doesn’t specify the threshold for enterprise pricing/custom discounts. It also doesn’t indicate anywhere easily found whether those custom discounts include interchange-plus pricing.
  • Nonprofit Discounts: Stripe mentions that 501(c)(3) nonprofits may be eligible for custom discounts. It doesn’t disclose what those rates are. In addition, the wording used on Stripe’s website sounds more like “we’ll see if we can work something out,” so it’s safe to assume not all nonprofits will qualify.
  • Microtransactions: Stripe says its sales team will work with merchants who want to implement micropayments, but it doesn’t specify what the cost is.

You’ll notice a trend here, I hope: a lack of disclosure. All of these pricing features are available, but Stripe fails to mention them. This likely indicates that the pricing isn’t consistent from one business to the next (usually volume and industry are two of the biggest contributing factors). It’s not a red flag, but it’s disappointing when you look at Braintree with its disclosures.

Additional Fees

Both Stripe and Braintree assess a $15 fee per chargeback incident, which is industry standard.

Braintree will refund your processing costs in the event you issue a full refund to a customer (it will not return fees on partial refunds, however). This is very nice, and it isn’t universal across all processors. PayPal, for example, keeps the $0.30 per-transaction fee but will refund the percentage fee.

Stripe does not refund processing fees for refunded transactions. This is (somewhat surprisingly) stated very clearly at the bottom of Stripe’s pricing page.

Generally speaking, Braintree charges absolutely nothing for access to all its features and tools. However, you may incur additional charges for using 3D Secure depending on your rate plan. Using Kount Custom as part of your advanced fraud monitoring will also incur additional costs.

Stripe has modified its pricing to include additional fees for its subscription, marketplace, and reporting tools.

Stripe Billing (including all of the formerly free subscription tools) now assess a small percentage charge. Pricing is lumped into two tiers:

  • Starter: Free for first $1 million in transactions; afterward, 0.4% in addition to processing costs
  • Scale: 0.7% in addition to processing costs; includes additional features and discounted processing costs.

If you used Stripe’s subscription tools before April 5, 2018, you are grandfathered out of these costs and can use Stripe Billing at no additional charge. That’s actually quite nice — and somewhat unexpected.

Sigma, Stripe’s reporting tool, is priced on a sliding scale based on volume. I’ll admit this is a fair way of pricing a service like this — it’s better than tiered packages that are divided by the amount of info available or the number of queries you could generate. This way small businesses get a very fair price for advanced business info.

  • <500 Transactions: $0.02/charge plus $10 infrastructure fee
  • 501-1,000 Transactions: $0.018/charge plus $25 infrastructure fee
  • 1,001-5,000 Transactions: $0.016/charge plus $50 infrastructure fee
  • 5,000-50,000 Transactions: $0.014/charge plus $100 infrastructure fee

Beyond that point, your business moves into enterprise-level pricing and you’ll get a custom quote. You can test out the pricing tool for yourself on the Stripe website.

Costs for using Connect, Stripe’s marketplace tools, are laid out on the website pretty clearly, which is nice to see given how little other information is out there.

Also, merchants who are on a custom payment plan will pay an additional $0.04 per transaction

One final point of consideration: With Stripe, you can’t access the gateway separate from the company’s processing services. But you can do that with Braintree, for $49/month + $0.10 per transaction. That’s a bit pricey for a gateway fee, but it could easily be worth the cost to access to all of Braintree’s tools.

All in all, Braintree is the winner here simply because it offers most of its features at no additional charge beyond processing costs, and that translates to savings for merchants.

Contract Length & Cancellation

Winner: Tie

With both Stripe and Braintree, merchants have no multi-year contracts. Everything is pay-as-you-go, so if you find a better service you are free to leave at any time. This is always good to see. But what’s even better is that both companies will help you migrate your data (customer database and card vault) securely to ensure seamless continuity. And that’s not just good, it’s awesome.

Sales & Advertising Transparency

Winner: Tie

I’m always happy to say when any processor is fair, honest, and transparent. In this case, I am extra happy to say both companies fit the mark. You won’t find any deceptive sales tactics, misleading quotes, or pushy sales reps here.

You’ll pay exactly what you’re quoted with both Stripe and Braintree, which is awesome. I like that both companies use flat-rate pricing by default. It’s hard to compare that number to interchange-plus models, which are usually the most cost-effective; however, you know exactly what you’ll pay for every transaction regardless of card brand. Flat-rate pricing is far more transparent than tiered pricing models, too.

You’ll find both companies are great at pushing out information about new features and how to use them, as well, and they’re upfront about matters such as customer service channels, integrations, and more.

Perhaps the only mark against Stripe is that while its terms of service spell out that an account can be terminated at any time for any or no reason, plenty of merchants seem to gloss over this or forget it entirely…until it happens to them. Stripe is a third-party payments provider, which means that the company doesn’t do extensive underwriting or investigation into your company when you apply for an account. The tradeoff to getting your account set up quickly is that you will face more intense scrutiny after the fact. Stripe has been known to terminate merchants with no warning, whether it’s for too many chargebacks or the company’s risk assessment team identifying a pattern of high-risk transactions. When this happens, there’s no appeals process to reinstate an account. You just need to move on and find a new processor.

To be fair, Braintree seems to exhibit some of this same behavior, despite the fact that it isn’t a third-party processor. When you sign up with Braintree, you do get a traditional merchant account. However, while I have seen complaints about this behavior, the overall volume is incredibly low, especially for a company as large as Braintree. So my honest assessment is that while it can happen, it happens only rarely with Braintree users. Account terminations are more common with Stripe because of its third-party processing model — but again, an account termination is an exception to the rule, rather than the norm. Most importantly, you should be aware that this is a possibility but you can take steps to protect yourself.

First, make sure you check out Stripe’s Prohibited Businesses list and then also look at Braintree’s Acceptable Use Policy. Both of these documents outline what kinds of merchants they won’t work with, so make sure your business isn’t on the list.

You can also check out our resources, including our guide on how to avoid holds, freezes, and account terminations.

Customer Service & Technical Support

Winner: Braintree

One of the most difficult parts of assessing customer support is that experiences vary so much from one merchant to the next. With some notable exceptions, it’s fairly common to see at least one negative review focusing on customer support for every good review that praises a company’s customer support. So as a reviewer, I look for patterns that can clue me into what, if anything is going on. But it’s also important to look at what support channels are offered and how they serve merchants. Being able to talk to a real, live person in real time is such an important aspect of good service for many merchants.

Braintree is a clear winner in this category. It likes to tout its “white glove service”; even ignoring the marketing buzz, when you take a look at the options and availability, it becomes clear that Braintree has worked hard to cater to merchants’ needs.

Braintree Support Options

  • Email: Email support is available from 5 AM to 12 AM US Central Time, Monday-Thursday and 5 AM to 8 PM, Friday. It’s nice to see the extended weekday hours, but the lack of any sort of weekend hours is a bit disappointing.
  • Knowledgebase & Documentation: In my experience, Braintree makes it much easier to find information about particular features and how to use them than Stripe does. The self-service knowledgebase includes extensive guides so that even merchants who aren’t technically inclined can make sense of Braintree’s features without having to wade through the documentation. And generally speaking, developers seem to approve of Braintree’s documentation and the available resources. The company seems to have made some major strides forward and is up there along with Stripe in terms of documentation quality.
  • Phone support: Hours for Braintree’s phone support are 8 AM to 7 PM US Central Time, Monday-Thursday and 8 AM to 5 PM, Friday. Again, I think the lack of weekend support hours is disappointing, but it’s nice to see extended weekday hours.

I do want to point out that Braintree does make one additional promise about its customer support:

Of course, we offer emergency support via email 24x7x365, and have support reps and engineers on-call at all times.

So it’s nice to know that in an emergency you’ll at least know someone is there to answer your questions and help your business running again. But I have no data about whether this emergency support is effective (or even necessary).

Stripe Support Options

  • Knowledgebase and Documentation: I personally haven’t found Stripe’s self-service knowledgebase to be very informative. It’s quite basic, and if you want to learn more about all of Stripe’s features or understand how they fit together, you’ll need to look at the documentation. However, I will say this: Stripe’s documentation is the gold standard. So developers will have no trouble here.
  • Email: Stripe doesn’t offer a turnaround time for emails, just that the company will “get back to you as soon as we can.”
  • Freenode IRC Chat: Stripe’s developers apparently spend their time in the #stripe channel if you need technical assistance. Unsurprisingly, most developers seem to like this aspect of support.

Stripe doesn’t offer phone support, and it doesn’t offer any information as to when its team is on call to respond to questions, all of which is a bit disappointing. But it’s the quality that counts, right? Except, reports suggest Stripe’s customer support isn’t always awesome, either. Check out the next section, “Negative Reviews & Complaints,” for more information.

Negative Reviews & Complaints

Winner: Braintree

The overall quantity of complaints is only one factor we use to evaluate a merchant because you also need to consider the overall size of the business.

Braintree doesn’t publish current numbers for its merchants, and Stripe is vague about it. All we know is that the number exceeds 100,000, which is a good number for any merchant services provider. But we do know that both Stripe and Braintree are enormous companies that handle billions of dollars each year. Part of that is because they both serve some very large, high-profile clients. But you’ll certainly find plenty of smaller businesses and startups using these platforms, too.

On the whole, Stripe has far more complaints floating around than Braintree does. This isn’t too surprising because third-party processors, including Stripe, tend to have a high number of complaints overall, usually for 1 major reason:

  • Holds and Terminations: Third-party processors or aggregators can’t offer the same sort of stability that you get with a traditional merchant account because the onboarding process for new merchants doesn’t include the traditional in-depth analysis of the business and underwriting. That means accounts are more likely to face termination for suspicious behavior after they get up and running. This is absolutely the pattern we’ve seen with Stripe and it is one of the two biggest complaints about the company.

The other major complaint about Stripe is:

  • Poor Customer Service: One of the biggest gripes in the customer service department is the lack of phone service. When something is not right, merchants want to talk to a real, live person. When companies that provide core services like payment process don’t offer that, it leaves merchants upset. That’s what I’ve seen with Braintree. However, other customer service complaints say that support is unresponsive and unhelpful. This is particularly true in the account of funding holds or terminations. I don’t see many complaints about the quality of support for everyday sort of issues.

And then there’s Braintree. Braintree overall has far fewer complaints scattered across the web. (Considering this is a PayPal-owned company, I continue to be absolutely flabbergasted by this fact.) However, you will see some similarities to Stripe complaints:

  • Account Terminations: I want to make it clear that references to merchants who have had their accounts terminated are few and far between. They aren’t the majority of Braintree complaints, and even if they were, they would still be uncommon. From what I can tell, an account termination usually occurs when a business is deemed high risk. Whether this is a flaw in the screening process or a determination made by analyzing processing history or particular transactions, I don’t know.
  • Poor Customer Support: Complaints in this category seem to center on slow response times for email support, as well as inconsistent answers from support reps. However, I do see other merchants praising Braintree for the quality of its customer support, too.
  • Long Setup Times for Accounts: Some complaints focus on the fact that it can take a while to establish an account with Braintree. I know we live in the age of instant gratification, but sometimes vetting can take time.

All in all, it’s easy to call Braintree the winner in this regard. You’ll likely deal with fewer headaches and hassles with Braintree, and you’ll certainly see far greater account stability.

Positive Reviews & Testimonials

Winner: Tie

Stripe is a media darling, for sure. There’s no shortage of articles about the company’s co-founders, the Collison brothers, or about how massive the company is, the way it disrupts payments technology, etc.

Braintree doesn’t get quite as much press, but its parent company, PayPal does.

But press coverage doesn’t really tell the whole story.

Most of Stripe and Braintree’s big success stories come from household names. Big companies that you’ve probably heard about. You can see a shortlist of logos from prominent Braintree clients on its homepage; you can find a longer list on the Merchant Stories page.

However, what I like best is that Braintree actually has case studies for how these different companies have used Braintree to build successful businesses and process payments. These case studies aren’t exactly common, so it’s nice to see them — and so many, at that.

Stripe’s client list is no less impressive than Braintree’s though. You can find a shortlist on the homepage as well, but a more in-depth list on the Customers page. It offers only brief snippets instead of case studies, but the page does showcase the ways you can use Stripe.

But what do everyday merchants have to say? What do developers say?

Both Stripe and Braintree are popular with developers, and the consensus is that they both offer good documentation, extensive libraries, and powerful features.

Braintree’s merchants also praise the company’s customer support — at least, the customers who don’t have a problem with the customer service praise it. It appears the customer service excels on both the technical/developer side and the merchant side.

I also see Stripe get a lot of compliments for its well-designed website and the intuitive user interface in the dashboard.

Let’s call this one a draw.

Final Verdict

When two options are as similar in appearance as Stripe and Braintree, it can be tempting to say “Eeny Meeny Miney Mo!” and point to one and roll with it. But I hope you’ve got a slightly better understanding of where Stripe and Braintree align and where they are very different.

Obviously, the stability of a merchant account can be a major draw, and some businesses won’t want to sacrifice that even if it means spending a bit more on integrations to get features they need.  On the other hand, Stripe has several best-in-class tools that some businesses may find absolutely essential, such as its Billing tools. The risk of an account termination is relatively small so long as your business model is sound, you’re not on the list of prohibited business types, and you take appropriate measures to mitigate the risk of fraudulent transactions and chargebacks.

Both of these companies integrate with some major shopping cart software options, so if you’re looking primarily for an easy way to take payments, you can certainly go that route. But having a developer will really make it possible to harness the full capabilities of both companies.

It’s important that you sit down, make a list of must-have features and a list of “Would be nice” features. If you can’t make a choice based on those criteria, have a discussion about the account stability issue and decide how much risk you’re willing to tolerate. Also consider the customer support that each company offers and the fact that you may end up having to pay more for using some of Stripe’s best features.

Don’t forget to check out our complete Braintree review, as well as our Stripe review, for good measure.

Thanks for reading! I always love to hear from readers, so if you have questions or comments, please leave them below! We’ll be happy to help you!

The post Stripe VS Braintree appeared first on Merchant Maverick.

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Stripe VS Square

Stripe VS Square
✓ Products and Services ✓
✓ Compatible Hardware ✓
✓ Fees and Rates ✓
✓ Sales and Advertising Transparency ✓
Customer Service and Technical Support ✓
✓ Negative Reviews and Complaints ✓
✓ Positive Reviews and Testimonials ✓
Tie Final Verdict  Tie
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Overview

Spend a little bit of time reading up on Stripe (read our review) and Square (read our review) and you’ll start to see the similarities. They’re both giants in the payment industry, media darlings that have transformed the way people pay for things and the way merchants accept payments. They’re both on the leading edge of technology and rely heavily on machine learning to drive their payment processing systems.

Most importantly, both Square and Stripe offer huge assortments of commerce tools that make it easy for merchants to run their businesses. With the various APIs and integrations available, there are almost limitless possibilities for creating a custom system with everything from invoicing to email marketing and more.

But that’s where I stop pointing out the similarities. Once you get past that point, it becomes harder to draw apples-to-apples comparisons because Square’s offerings are much more varied. Square really is an all-in-one processor that can handle in-person and eCommerce payments, as well as inventory management, customer databases, and more. Stripe is more limited to eCommerce, both for websites and for mobile apps, but it has powerful tools for global enterprises, subscription-based businesses, and other online companies.

To keep things fair and within a manageable scope, we’re going to limit the scope of this comparison to each companies’ online and mobile commerce tools. That means, for the most part, we’re not going to look at mPOS apps, POS integrations, appointment booking, or email marketing…except to say if you need them, Square is the better choice.That also means we’ll be ignoring Stripe Atlas, the company’s service for helping international merchants establish themselves in the US.

If you want to sell online and Square and Stripe have made your shortlist, you should start by asking yourself some questions:

  • What features do you absolutely need? Which features aren’t essential, but would be very nice to have?
  • What percentage of your transactions are from outside the US?
  • Do you have a developer or advanced coding knowledge yourself?
  • Do you have limited tech knowledge and need an easy solution?
  • Are you looking for specific integrations?
  • What industry is your business part of?
  • How advanced are your subscription tool needs?

Once you have the answers to these questions, you can sit down and look at each company in more detail. Read on for our comparison of Stripe vs. Square!

Products & Services

Winner: Tie

It’s so important to have a list of must-have features before you set about choosing any sort of payments or eCommerce software because you don’t want to make the decision and then find out that you’re missing a very important function. But it’s also important to think about where you want your business to go and what tools you want to invest in as your business scales up. If you pick the right service, it could mean you never need to switch. But if you don’t think about growth, you may wind up having to make a complicated switchover later in the future once you’ve outgrown a solution.

The good news is that for the most part, Stripe and Square are both very good solutions that scale up as a business grows. It just comes down to in which direction a business wants to grow.

Square Tools and Services for Online Merchants

Square initially stood out among mobile competitors by offering a free webstore to its merchants. Since then, the company has branched out considerably to include eCommerce integrations as well as developer tools. For a more in-depth review of all of Square’s offerings, check out our full review.

  • Online Store: Square’s free online store is very basic. There are only four templates to choose from, and you can only customize portions of the site (such as filling in your business name and address in the footer) in addition to loading your products. This is not a good solution for anyone with a large and diverse inventory, especially if your shipping costs vary significantly or if you’re looking for a particular visual aesthetic.
  • eCommerce Integrations: When you first take a look at Square’s eCommerce offerings, you’ll see that Square very conveniently groups everything by a merchant’s level of technical expertise. I think this is a really helpful approach.

    The easiest integrations are listed on the site and Square lets you know that you can choose from an assortment of templates.

    The intermediate level includes eCommerce integrations that require a bit more work and technical knowledge to get set up.
    Square’s list of integrations includes some of the best shopping cart options, and the list keeps growing. That makes me happy, but if your preferred integration isn’t on the list yet and you do have the technical knowledge (or an eager developer on your payroll), there are more tools at your disposal. You can check out the list of Square integrations in the app marketplace.
  • Developer Tools: Square’s dev tools make it possible for you to create almost any custom integration you could need. For eCommerce, there are two APIs, Checkout and Transactions.  Square Checkout is a premade form that can be dropped into a site with minimal fuss. Using Checkout means merchants are eligible for some perks, like next-day deposits and chargeback protection. The Transaction API, combined with Square’s payment form, is more customizable. Square has other APIs to handle other aspects of commerce, but you’ll find that Square doesn’t readily support in-app payments.
  • Dashboard Reporting: Square’s reporting tools are fairly advanced, especially for a company that started as an mPOS. They’re very popular with merchants who want to know what’s selling and how much they’re processing and need standard business data. The dashboard is actually quite intuitive, as well. However, Square doesn’t allow for a huge amount of customization in reports unless you get into the Reporting API, which allows you to create real-time notifications using webhooks.

Additionally, Square offers the following tools:

  • Advanced Inventory: Square will reconcile online and in-person sales and give you an up-to-date count on your inventory, including low-stock alerts when you hit a specified threshold. Plus, you can bulk upload products and generate SKUs, create variants, and more.
  • Fraud Protection Tools: Square uses machine learning to analyze transactions and identify and flag possible fraudulent transactions.
  • Customer Database: Save customers’ contact information and build a database with records of their purchases so that you can market to them later.
  • Invoicing: Create invoices from within the Square dashboard or from within the mPOS app. Square also allows customers to store their cards to automatically pay invoices (using this Card on File will cost you a bit more). You can also create recurring invoices. However, if you want extensive subscription management tools, you’ll need an integration with a service like Chargify, which will add to your costs.
  • Free Virtual Terminal: If you want to process payments over the phone or you don’t have access to the mPOS, you can use Square’s virtual terminal. Transactions will be processed at the manual entry rate (3.5% + $0.15) rather than the eCommerce rate, but the solution is PCI compliant and is designed for regular use.

All in all, while it’s worth noting that Square really is an omnichannel solution for merchants who want to sell anywhere without needing to build a complicated system of integrations. But it has some shortcomings, especially for digital merchants. Subscription tools are nearly nonexistent, and fraud protection doesn’t compare to the tools Stripe offers. If you want advanced, custom reports, you’ll be better served by Stripe. However, Square’s tools and overall design are incredibly easy to use, especially for business owners who don’t have a lot of technical expertise or a large budget to hire someone. And it has very strong tools for merchants who sell physical products in particular.

Stripe Tools and Services for Online Merchants

Stripe has earned its name as a developer-friendly option, but you can also integrate with a host of third-party apps to accept payments with ease. The company focuses on internet and mobile commerce, but developers have extended Square’s power to include mobile payments and more. Just take note, there’s no free storefront option here. For a more detailed look at different features, check out our complete Stripe review.

  • eCommerce Integrations & Plug-Ins: Stripe outclasses Square in terms of shopping cart integrations by virtue of sheer numbers. In addition to integrations with major eCommerce software providers, developers have created an assortment of plug-ins for businesses operating on WordPress, Magento, and other websites. If you’re not really sure where you start, you might end up doing a lot of research to decide the best course of action, but you can at least take heart in knowing that there’ll be something that will meet your needs. You can check out the full list of eCommerce integrations on Stripe’s “Works With” page.
  • Developer Tools: Stripe is much loved by developers for its flexibility, its extensive documentation and its support for multiple programming languages. Its APIs allow you to create invoices and subscriptions along with many other features.

    Stripe Elements will let you create an entirely custom form with pre-built components; Stripe Checkout generates a pre-built form you can just drop into the site with a few lines of JavaScript. With Stripe, it’s very easy to accept payments on a desktop computer, a mobile site, or within a mobile app. Stripe now even supports 1-touch payments on mobile
  • Stripe Sigma: Stripe offers your standard user dashboard with some general sales reports at no charge. But if your business is heavily data-driven, Sigma’s customizable reporting is the perfect solution for you: you can generate reports based on SQL queries. This is pretty cool, and it’s a great way to make sure that anyone on your team can get the reports they need without creating an information bottleneck. Pricing is based on a sliding scale rather than a set additional monthly see.

Stripe’s additional tools include:

  • Stripe Billing: Stripe’s subscription tools are industry-leading, with the ability to charge clients based on a recurring quantity or metered usage, to set free trial periods, and much more. You can also create invoices or set up recurring billing tools. However, new businesses will pay a small additional charge per transaction to use these tools.
  • Stripe Radar: Stripe makes a big deal of its fraud monitoring tools, bundled under the very-apt name Radar. The system uses machine learning and a host of criteria to analyze every transaction and decide whether it is legitimate or possibly fraudulent. Radar also lets merchants set custom criteria for rejecting transactions and review flagged transactions to decide whether to accept or reject them.
  • Marketplace Tools: Merchants who want to operate a marketplace can use Stripe to build the platform. Stripe’s marketplace tools are grouped under the moniker “Stripe Connect.”
  • Multiple Currency Displays & Dynamic Currency Conversion: These tools are a major reason why Stripe is such a powerful tool for global businesses. Whereas Stripe will automatically convert transactions to USD (usually at the cost of a fee to the cardholder), Stripe will allow you to display prices in local currencies based on where the customer is located. Stripe then automatically converts them for the merchant, charging a small markup over the exchange rate. This makes a business more appealing to international customers.

There’s no doubt that Stripe is very powerful. It can handle all sorts of payments, from digital subscriptions to retail goods. It’s one of the best solutions for global businesses with its currency tools. But it does have some limitations. If you plan to sell across multiple channels, there’s no option for in-person payments unless you have an integration like Flint Mobile (read our review), but it’s still more costly than other mPOS options. There’s no virtual terminal, either. While Stripe does allow you to manually enter a transaction if all else fails, it’s a last resort rather than a tool to be used on the regular because of PCI compliance issues.

Stripe’s inventory tools aren’t on the level of Square. They’re powerful, but if you want advanced inventory management, you’ll need to tack on an integration. I also don’t think that Stripe’s inventory tools are even half as intuitive as Square’s. But I think part of that is Stripe’s focus on online payments and tools for digital merchants, compared to Square’s omnichannel approach.

All in all, it’s really hard to say one of these companies is inherently better than the other. Both have a good assortment of integrations for shopping carts and other tools, though Stripe has a greater number of supported integrations. If you want ease of use, especially if you sell physical goods,  Square is the standout option. But if you need flexibility, robust tools, and advanced data, Stripe is the better choice. So it ultimately comes down to your business’ needs.

Fees & Rates

Winner: Tie

I am happy to say that pricing for both Square and Stripe is mostly straightforward:

  • 2.9% + $0.30 per online card transaction

There are no monthly fees, no monthly minimums, no statement fees. That’s very nice to see.

I do want to point out that Square charges different rates for its card-present and keyed transactions (2.7% and 3.5% + $0.15, respectively). However, invoices process at the same rate as eCommerce transactions unless you’re using Card on File, which process at the keyed transaction rate.

Square also has no chargeback fees, which is very unusual. Not only that, but the company has rolled out Chargeback Protection, which will cover the actual chargeback costs on qualifying disputes up to $250 per month. This doesn’t apply to merchants who use the Transactions API, but it is available for those who use Stripe Checkout.

You can get volume discounts if you process above $250k per year AND have an average ticket size exceeding $15. That’s a mark in Square’s favor for large businesses. However, nonprofits don’t get any sort of special discount, which you can often find with other processors.

Stripe’s pricing has become a tiny bit more complicated. In addition to card transactions processed at 2.9% + $0.30, you can also accept ACH transactions for 0.8%, capped at $5 maximum.

The base fee per transaction is simple. And for each chargeback, Stripe will assess a $15 fee, unless the chargeback is decided in your favor. In that case, you’ll pay absolutely nothing.

Stripe’s subscription tools, lumped under the name “Stripe Billing” along with invoicing, will cost you a small percentage fee (between 0.04% and 0.07%) on top of your transaction.

Existing Stripe merchants are grandfathered out of this new pricing. Large businesses will actually pay the higher 0.7% markup, but it seems Stripe has compromised by offering lower transaction fees.

You’ll also pay a monthly fee for access to Stripe Sigma. The cost is a sliding scale based on the number of transactions you process each month, which is a great way for very small businesses to still get crucial data. But for a company that built its reputation on not charging any fees beyond transaction processing, it’s a little bit disappointing to see that model disappearing. You can estimate your cost with Stripe’s tool.

Stripe does offer enterprise pricing for very large businesses, and some nonprofits may be eligible for a special rate. Stripe doesn’t make any promises about nonprofit pricing apart from “let us know and we’ll see what we can do.” So you shouldn’t assume it’s guaranteed.

With Stripe, you may also be able to negotiate for micro-transaction rates. Whereas per-transaction fees like the $0.30 Stripe and Square charge can eat up fees from small transactions (less than $10 in particular), micro-transaction rates typically include a higher percentage and a lower per-transaction fee that can save merchants money. This is ideal for anyone who sells digital goods and other low-cost items.

Because it’s something offered as part of a custom package, Stripe may not offer this deal to everyone. If you’re unable to get a micro-transaction plan from Stripe, it might be worth looking at a third option — PayPal (read our review) — instead. The 5% + $0.05 fee could save you quite a bit of money in the long run.

All in all, Stripe and Square are fairly evenly matched in pricing. Some merchants might enjoy the lack of chargeback fees and included chargeback protection that Square offers. But Stripe might be a bigger draw for other companies, despite the additional charges for using its subscription tools or Sigma reporting.

Contract Length & Cancellation

Winner: Tie 

Both Stripe and Square offer pay-as-you-go processing with no locked-in contracts or early termination fees. It really is that simple. Stripe will even help you transfer your customer data to another processor in a PCI compliant way.

If you’re using any of Square’s monthly services in addition to eCommerce processing, you can get a free 30-day trial, and then if you choose to continue with the service, you can cancel at any time. Square doesn’t bill annually for those services the way many SaaS providers do. (Conversely, you also don’t get any discounts for paying annually, either.)

Sales & Advertising Transparency

Winner: Tie 

One of the reasons I like pay-as-you-go processors is that they are, on the whole, very upfront and transparent. They tend to not have extensive sales teams, and if they do have a sales team, they’re all in-house. They’re very clear about their pricing and terms, and they’re applied fairly to all merchants.

Square and Stripe both fit this pattern to a T. You won’t see reports of misleading sales pitches or rates not as promised here, which is always nice to see. You can find Stripe’s terms of service on the site, both the general user agreement and the Stripe Payments agreement. Like Stripe, Square has separate agreements applying to general use, payments, and other services. I do recommend you be cautious and check that your business doesn’t fall on either list of “prohibited businesses,” because that’s an easy path to account termination.

Overall, I’m really happy with both companies in this category, and you shouldn’t have any worries about whether you’re being told the truth or whether you’ll pay what you were quoted.

Customer Service & Technical Support

Winner: Square

I think it’s fairly clear that Square outshines Stripe in terms of its customer support — both in quality and in the number of channels available.

Square offers merchants phone and email support, as well as an extensive knowledgebase. That’s pretty typical of any processor, but on top of that, Square operates the Seller Community, a community forum about all-things Square.

 

You can get answers from other Square merchants as well as from Square support reps. It’s a pretty powerful tool. But on top of that, Square’s team monitors Stack Overflow for questions about Square products and responds to them.

And that’s not even talking about Square’s dedicated Twitter support handle (@SqSupport), or the developer portal and documentation.

I can’t say that Square customer support is all sunshine and rainbows, because I do see customer complaints about the quality. However, without a doubt the biggest complaint about the quality of customer support comes from merchants whose accounts have been terminated. In that case, Square cuts off access to phone support and will only communicate via email. This is unfortunate and I don’t know if it’s actually a good solution. But I am sure part of the reason to reduce the odds of a customer support rep saying something they shouldn’t, and to prevent support resources from being tied up dealing with complaints from terminated merchants whose accounts won’t be reinstated.

Stripe is more limited in its support options. Its primary support channel is email. However, Stripe also operates an IRC Freenode chat (#Stripe) that developers may find useful. There’s no dedicated social media support with Stripe, but you can follow the general @Stripe twitter feed.

Stripe also maintains a self-service knowledgebase, though I don’t think it’s as extensive or detailed as Square’s. But I will say that Stripe’s documentation is pretty legendary, and so it’s going to be one of the best resources you can get.  You can also find questions about Stripe on Stack Overflow, but I am not able to ascertain whether Stripe’s team is active on the forum at all the way that Square is.

I do see comments from merchants that the support is pretty good. But I also see a lot of complaints from frustrated merchants about the lack of phone support. That complaint has actually become one of the biggest marks against Stripe. I’ve seen one mention that Stripe might be rolling out phone support to “select merchants” (presumably high-value clients). However, take this with a grain of salt. I wasn’t able to verify it through any sort of authoritative source.

Negative Reviews & Complaints

Winner: Tie

As far as complaints go, the single biggest issue for both Square and Stripe is a common one:

  • Account Holds And Terminations: This is unsurprising (understatement of the year, right there) because it’s a common issue with any third-party processor. Because these payment systems are usually open to almost anyone right away and they are all lumped into one large merchant account, there’s a greater risk that some of those accounts will be terminated for risky behavior. There’s very little scrutiny done before a sub-account with one of these processors is approved, which stands in contrast to merchant accounts, where the processing company will do a lot of underwriting and investigation before approving your application. Both Square and Stripe use a lot of machine learning to analyze transactions and flag suspicious behaviors. This potential for account holds or terminations is universal — you will encounter it with any third-party processor. If you want to avoid it, your only alternative is to seek out a traditional merchant account.

The other big complaint that I see with both is also a pretty common one:

  • Poor Customer Support: If I’m honest, reports about the quality of customer service conflict. But because of how common the complaints are, I’m listing it here. With Stripe, the most common issues are the lack of phone support and slow response times for email. With Square, a lot of the complaints about poor customer service come from terminated merchants, but I’ve seen a few complaints about slow or unhelpful email responses.

Additional frequent complaints about Stripe include:

  • Lack Of Fraud Protection: I want to be clear: Stripe does have fraud management tools and a system to help merchants fight chargebacks. But I have seen complaints from merchants who don’t think these are adequate. Chargebacks are not settled by Stripe, so there’s not much the company can do beyond pass the requested documents on. But for fraud prevention, merchants need to make sure they have the appropriate tools enabled.
  • Not User-Friendly: There’s a lot of testimonials from users (especially developers) who really like Stripe and find it simple to set up. There are plenty of others who disagree with that idea. I’m inclined to think most people with a decent technical backing will get along fine with Stripe, but for some people, especially those with less technical knowledge, it’s not going to be a good choice.

For Square, there is one other common complaint:

  • Lack of advanced features: It’s not that Square doesn’t have enough features, or that it’s missing anything important. The complaints about Square often focus on the lack of very particular advanced features that you typically find in full-scale POS systems. In this case, I think Square’s lack of extensive subscription tools would fit the bill. Some merchants have been upset for quite a while over the lack of Cost of Goods Sold (COGS) reporting. Square added this feature with its Square for Retail app, but not for online sales or its free POS. Square has some very powerful reporting tools, but in the end, they won’t hold a candle to Stripe’s Sigma offering.

I think, yet again, that the two companies are pretty evenly matched in this category. The largest complaints are identical, and that’s because they’re the same complaints we see with third-party processors. To be entirely honest, poor customer service is a common complaint across the entire payments industry. It’s frustrating, for sure. But you can take steps to better inform yourself — read our article on how to prevent holds, freezes, and account terminations. And please take reports of poor customer service with a grain of salt, because I see conflicting accounts there.

Positive Reviews & Testimonials

Winner: Tie

As media darlings, both Stripe and Square have gotten lots of press. They’re both lauded for the way they’ve transformed payments.

I usually feel a little bit silly comparing two businesses in this category because it almost feels like a bit of a popularity contest. But in this case, we’re dealing with two companies who have both gotten a LOT of positive press over the years, not to mention high-profile clients. And the bits of each service that merchants love most are pretty similar, too.

Square merchants love how easy the service is to use. And I tend to agree — Square is one of the most intuitive options out there as far as payments and using the dashboard. Merchants also really like the predictable pricing and lack of fees. Other than that, the integrated invoicing feature and the seamless omnichannel commerce experience are big draws.

Stripe also wins merchants over with its pricing, and its tools are very much loved by developers. While if you don’t have a lot of technical knowledge, Stripe may feel foreign to you, developers say it’s incredibly easy to use. Also on the dev side of things, it seems like the quality of customer service is great, even if business owners don’t always like the lack of phone support. And unsurprisingly, merchants really seem to love Stripe’s robust subscription tools. The predictable pricing and lack of monthly fees are also appealing.

Final Verdict

Winner: Tie

Stripe and Square have some very important core similarities: they’re both third-party processors with an assortment of tools that allow merchants to sell online. Neither one is suited to high-risk industries, and there’s a lengthy list of businesses neither company can work with. But despite that, both Stripe and Square offer tools that cater to a huge assortment of industries. They’ll both grow with your business, making it easy to scale up.

But despite their similarities in terms of business model, it’s also pretty clear that what each company does best is completely different.

Square is a spectacular all-in-one processor. You can sell in a store, on the go, and online and get all of your information and payments and orders collected in one simply, intuitive dashboard. There’s a huge array of add-on products that allow you consolidate a host of business functions under one name, and they’re guaranteed to work together perfect. eCommerce support is really the newest branch of Square’s offerings, and it’s a work in progress as the company establishes more partnerships and integrations with other major players.

If you have limited technical knowledge, Square is going to be much easier to get started with and to navigate through the different features. It’s free advanced inventory tools are also very well suited to retailers and other businesses that sell primarily physical goods.

Stripe focuses only on Internet payments (both on the web and in-app), but its tools make it possible for businesses to cater to customers all over the globe. The international appeal — from the local currency displays to the sheer breadth of payment methods accepted — make it clear that Stripe is already a global player.Not only that, but with Stripe’s APIs and documentation, a savvy developer could create all kinds of payments platforms for a business. Business owners who don’t have a developer on staff, and who don’t have a lot of technical knowledge themselves, might struggle with understanding how to use Stripe, especially if you want to do anything more than integrate it with some sort of shopping cart software.

You also get a far more limited scope of features. There’s no native support for omnichannel commerce. No mPOS app, no POS integration to support card-present pricing, no invoicing. If you need more than online payments on a regular basis, Stripe isn’t a suitable choice. But if that’s all you need, Stripe isn’t just a good option — it’s one of the best out there, period. If your business has a global reach, again you’ll find that Stripe once again tops the lists of best solutions.

I’m not comfortable saying that one of these solutions is better than the other because it really comes down to what your priorities are. Do you need something easy to use? Do you want to embrace multiple sales channels? Or are you limited to online sales and want best-in-class tools to reach a global audience, manage subscriptions, and even drive mobile commerce? Square can get the job done, and it’ll be the easier solution, but Stripe offers far more tools.

Sit down, think about what features are absolutely mandatory for you to have — and then look at which ones you’d like to have, but aren’t necessarily required. From there, it should be fairly clear which solution is right for you! Don’t forget to check out our complete reviews of Stripe and Square for more insights into how they function.

Have questions? Leave us a comment and we’ll help! Have experience using either of these tools? We’d love to hear from you.

As always, thanks for reading!

The post Stripe VS Square appeared first on Merchant Maverick.

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Payment Processing Companies And Services For Small Businesses

Payment Processing Services And Companies For Small Businesses

Navigating the world of payment processing services can be confusing for a small business owner, and it’s easy to make a mistake that can have a negative impact on your bottom line. With fast-talking sales agents lurking around every corner, waiting to sign you up for a lengthy, expensive contract, you need a good understanding of the basics of processing services, as well as specific things to watch out for.

While most merchant services providers offer a full range of products and services for every business, most of them are geared toward the needs of larger, established companies rather than small businesses and startups. Which services you need to run your business will depend primarily on the where and how you sell your products. For example, retailers and eCommerce businesses have very different requirements, although there are also some services (such as basic credit card processing) that are universally required.

In this article, we’ll provide you with a quick overview of the primary merchant services that you’ll need to accept credit card, debit card, and electronic check payments. We’ll also briefly review several of the best all-around merchant services providers for small businesses. All of them offer easy-to-use solutions at a fairly low cost compared to what the major credit card processors usually charge.

Payment Processing Services

It’s important to give your customers as many possible ways of paying for their purchases as you can, as this naturally leads to increased sales. At the same time, you don’t want to invest extra money into supporting payment methods that few, if any, of your customers actually use. Here’s a brief overview of the primary payment methods available and the services you’ll need to support them:

Credit Card Payment Processing

Providing credit card processing services is one of the most basic merchant services, and all providers will offer this feature. To accept credit cards, you’ll need either a full-service merchant account or an account with a payment service provider (PSP) such as Square (see our review). While every provider will allow you to accept major credit cards such as Visa and MasterCard, you’ll want to check carefully if you need support for less popular cards such as Discover, JCB, or Diner’s Club. American Express is also treated differently, as they function as both the issuing bank and the credit card association. Fortunately, Amex offers their OptBlue program, which simplifies the process of accepting their cards.

Debit Card Payment Processing

Virtually all merchant services providers support debit card transactions. In setting up your account, however, be aware that the interchange rates for debit transactions are usually much lower than it typically is for credit card transactions. The reason for this is simple: banks don’t have to issue a credit when the card is used like they do with credit cards. If the customer has sufficient funds in their bank account to cover the cost of the purchase, the transaction is usually approved, and funds are withdrawn immediately. Unfortunately, some merchant services providers set their processing rates without taking this distinction into account, which means you’ll end up paying much more for debit card transactions than you should. Tiered pricing plans and flat-rate plans are the usual culprits here, so look carefully at your proposed rate quote before signing up. You won’t have this problem with interchange-plus pricing, as the actual interchange rate is passed on to you, and the processor’s markup is the same for every transaction.

ACH Payment Processing

eCheck (ACH) payment processing operates on a different network from those used to process credit and debit cards. For this reason, most providers will require you to sign up for a separate ACH processing service as an optional feature when setting up your account. Adding eCheck processing to your account will allow you to accept bank transfers (i.e., eChecks) and paper checks with optional check scanning hardware. Processing rates for eChecks are very low because the money is coming directly out of the customer’s bank account. However, most providers will charge you a separate fee (usually around $20.00 – $30.00 per month) to add an eCheck processing service to your account. For small businesses, this might not be economical unless you have a significant number of customers who prefer to pay by check.

NFC Mobile Wallet Payment Acceptance

NFC-based payment methods such as Apple Pay and Google Pay have only been on the market for several years, and consumers have been slow to adopt them. However, they are becoming more popular over time, and it’s a good idea to offer them to your customers if you can. Most, but not all, modern credit card terminals and point-of-sale (POS) systems can accept these payment methods, but you’ll want to check the specific requirements for each particular NFC-based method you want to be able to accept. While NFC-based payment methods are ultimately tied to the user’s credit or debit card, they offer superior security and protection from fraud over traditional magstripe and even EMV card reading methods.

Mobile Payment Processing

Traditionally, mobile payment acceptance required a bulky wireless terminal. Not only were the terminals expensive by themselves, but they also needed a separate data plan (usually around $20.00 per month) to transmit the payment processing data. Then smartphones came along, and it wasn’t long before companies figured out that you could create an app that would effectively turn your phone into a credit card terminal. Coupled with an inexpensive card reader that plugged into the phone’s headphone jack, you had a simple mobile payment system that was far lighter and less expensive than the old wireless terminals.

While Square was the first company to pioneer this system, almost all other processors have followed suit, and today it’s hard to find a provider that doesn’t offer a similar mobile processing solution. Unfortunately, most of those competing systems fall far short of what Square has to offer. The apps themselves are very basic, and we’ve seen plenty of complaints about poor reliability, poor handling of tips, and a general lack of features. Magstripe-only card readers, while still offered for free or very low cost, are essentially obsolete liability traps with the switch to EMV-based chip cards. The gradual disappearance of the headphone jack from late-model smartphones further complicates matters. While this situation is bound to improve, today only Square and a small number of other merchant services providers offer both a fully-featured app and an EMV-compliant, Bluetooth-connected card reader.

eCommerce Payment Processing

To accept payments over the internet, you’ll need a software service called a payment gateway. Gateways can send transaction data to your provider for processing, and they also offer a number of other features you’ll need to run an online business. While features vary from one provider to another, most gateways offer support for recurring billing, online invoicing, and a secure customer information database to store your customer’s payment method data. Security features are also very important, with most providers offering some form of encryption or tokenization of data to keep it from falling into the wrong hands. Most merchant services providers offer either their own proprietary gateway or a third-party product such as Authorize.Net (see our review).

Online Reporting

Online dashboards are very popular these days, and almost all merchant services providers offer them. With these web-based dashboards, you can monitor the state of your business and track your transactions in real-time. They’re particularly valuable for eCommerce businesses and retailers who have more than one location.

Canadian Payment Processing

Unfortunately, most US-based providers do not offer accounts to businesses located in Canada. However, there are a few choices available north of the border that provide excellent service and fair prices. Helcim (see our review), one of our favorite providers, is based in Calgary and operates throughout both Canada and the United States.

Nonprofit Payment Processing

If you’re in the nonprofit sector, you’ll want to reduce your costs wherever possible. While you can sign up with any merchant services provider, it’s usually a better idea to go with one that offers reduced processing rates for nonprofits. Dharma Merchant Services (see our review), one of our highest-rated providers, specializes in helping nonprofits get set up with merchant services.

High-Risk Payment Processing

If your business falls into the high-risk category, your options for finding a provider will be more limited than they are for other merchants. The majority of merchant services providers, including most of those profiled below, do not accept high-risk merchants and will terminate your account if they later determine that you’re in the high-risk category. While there are many providers on the market that specialize in serving high-risk merchants, beware that many of them will charge you very inflated processing rates and account fees while providing poor customer service. For a look at the more reputable high-risk providers, check out our guide to the best high-risk merchant account providers.

Low-Volume Payment Processing

If your business only processes a few thousand dollars per month in credit/debit card transactions, or you’ve just launched, you’ll want to find a low-cost provider that won’t eat up your profits through high processing rates and hidden fees. Businesses at this end of the spectrum often don’t need a full-service merchant account and are better off going with a payment services provider (PSP). While you’ll pay somewhat higher processing rates, you’ll save money overall because most of these providers don’t charge any monthly fees. They also don’t require long-term contracts or charge early termination fees (ETFs), so you’ll be free to switch to a full-service merchant account with a different provider when your business is large enough to need one. For low-volume retailers, Square (see our review) is an excellent choice. The quickest and easiest option for eCommerce merchants is PayPal (see our review).

Payment Processing Companies

Below are short overviews of some of the best merchant services providers we’ve found for small businesses. Be sure to check out our full reviews for companies that you think might be a good fit for your business.

Square

Square Logo

Possibly the most popular provider for small businesses, Square offers simple flat-rate processing with month-to-month billing and no early termination fee. With Square, you can accept all major credit and debit cards. However, their processing rates don’t offer any discounts for debit card processing. Rates are fixed at 2.75% for swiped (or dipped) transactions, 2.9% + $0.30 per transaction for online payments, and 3.5% + $0.15 per transaction for keyed-in transactions.

Square offers a mobile-only processing solution with their Square Reader, which is now available in an EMV-compliant, Bluetooth-enabled product. While it’s not free like the old magstripe-only reader, it’s a great investment and much less expensive than competing products from other providers. The new reader also accepts NFC-based payment methods, future-proofing your system (at least for the time being).

Square also offers eCommerce payment processing, as well as a host of other features for both retail and eCommerce merchants. While it’s also available in Canada, high-risk merchants are not supported. There’s also no discount for nonprofit businesses. Square specializes in meeting the needs of low-volume merchants, and we recommend them for businesses processing less than $5,000 per month. For more details, see our complete review.

CDGcommerce

Another excellent choice for low-volume businesses, CDGcommerce offers a full-service merchant account for a low monthly fee of just $10.00 per month. That’s about as low as it gets for an actual merchant account, although you’ll want to seriously consider adding the optional cdg360 security package for an additional $15.00 per month. The company also offers true month-to-month billing with no early termination fee, which is a great feature for small businesses that don’t want to get trapped in a long-term contract.

In addition to basic credit/debit card processing, eCheck (ACH) processing is available for an additional fee. For eCommerce merchants, CDGcommerce offers a choice between their proprietary Quantum gateway and Authorize.Net (see our review). Either option is completely free, with no monthly gateway fees or additional per-transaction charges. For retailers, your account includes a “free” Verifone Vx520 EMV-compliant terminal. While there’s no charge for the terminal, you’ll have to pay a $79 per year maintenance fee, which is fully disclosed. You can also include a free mobile card reader with your account, but it’s magstripe-only at this time.

For businesses processing less than $10,000 per month, the company offers a simplified interchange-plus pricing plan. Rates are interchange + 0.25% + $0.10 per transaction for card-present transactions and interchange + 0.30% + $0.15 per transaction for online transactions. Discounted rates are also available for qualified nonprofit businesses.

CDGcommerce is not available in Canada and does not support high-risk merchants. For all others, it’s a great choice for a small business that wants a true merchant account with a minimum of expense or commitment. If the company sounds like a good fit for your business, check out our complete review.

Helcim

Helcim logo

With offices in both Canada and the United States, Helcim is another excellent provider that’s geared toward the needs of small business owners. Their Retail pricing plan costs only $15.00 per month and features interchange-plus rates starting at interchange + 0.25% + $0.08 per transaction. You’ll have to supply your own terminal, but the company offers them for sale at very competitive prices and doesn’t use overpriced terminal leases.

For eCommerce merchants, Helcim’s eCommerce pricing plan costs $35.00 per month and comes with the fully-featured Helcim Payment Gateway. Processing rates are all interchange-plus, and start at interchange + 0.45% + $0.25 per transaction. As with the Retail Plan, these are the highest rates available, with lower rates available if you meet their monthly processing volume requirements. Merchants who sell both online and from a storefront can get a combined Retail + eCommerce plan for $50.00 per month. Discounted rates are available for nonprofit businesses.

Helcim offers eCheck (ACH) processing as an optional add-on for $25.00 per month and $0.25 per check. Their mobile processing solution is free and included with all retail accounts. However, they currently only offer a magstripe-only card reader. To keep costs low, the company does not accept high-risk merchants. One caveat: Helcim freely discloses that their pricing structure will not be cost-effective for low-volume businesses processing less than $1500 per month. Read our full review for more details.

Dharma Merchant Services

Dharma Merchant Services review

You’d be hard-pressed to find a merchant services provider that’s more ethical and transparent than Dharma Merchant Services. They offer true month-to-month billing with no early termination fees, interchange-plus pricing, and low account fees – all of which are fully disclosed on their website. Account fees are only $10.00 per month for basic credit and debit card processing. eCheck (ACH) processing is available through one of several optional programs.

Dharma has special pricing plans for storefront, restaurant, and virtual (eCommerce) businesses. Processing rates range from interchange + 0.20% + $0.07 per transaction to interchange + 0.35% + $0.10 per transaction depending on your business type. Recurring and incidental fees are all disclosed on their website, including a $7.95 per month PCI compliance fee. The company also offers special discounted rates for nonprofits.

Mobile processing is supported through First Data’s Clover Go card reader and app. This service costs an additional $10.00 per month, plus $99 for the Clover Go Basic Reader (or $139 for the Clover Go Contactless reader). Dharma is only available to US-based merchants and can only support certain limited categories of high-risk businesses. The company’s fee structure is only suitable for businesses processing at least $10,000 per month, something which they also fully disclose on their website. For a more in-depth look at Dharma Merchant Services, please see our complete review.

Payline Data

Payline Data high risk merchant accounts

Another great option for small or new businesses is Payline Data. They offer a number of simplified pricing plans, all featuring interchange-plus pricing. Their Payline Start plan, designed specifically for new businesses, has no monthly fee and features a single processing rate of interchange + 0.50% + $0.10 per transaction. There’s also a $99.00 per year PCI compliance fee and a $25.00 monthly minimum, but that’s about it for recurring fees. Lower rates are available under the Payline Shop plan, which costs $9.95 per month. For eCommerce merchants, Payline Connect charges somewhat higher rates, but includes a payment gateway and virtual terminal for $10.00 per month.

While all accounts include basic credit/debit card processing, eCheck (ACH) processing is a separate service. Payline doesn’t disclose the cost of this option. They also offer Payline Mobile, their proprietary mobile processing solution. It costs $7.50 per month for merchants on the Payline Start plan, and features the Ingenico RP457c card reader, which can accept magstripe, EMV, and NFC-based payment methods and connects to your smartphone (or tablet) via either the headphone jack or Bluetooth.

Payline Data offers discounted rates to nonprofit businesses and can also support some high-risk merchants. It doesn’t advertise this capability, however, so you’ll have to ask your sales representative about it. The company’s services are only available to businesses in the United States. For a more detailed look at Payline Data, check out our complete review.

Fattmerchant

For a unique take on merchant account pricing, take a look at Fattmerchant and their subscription-based pricing. Their standard account pricing plan for both retail and eCommerce merchants includes a $99.00 per month subscription fee, but offers processing rates of interchange + $0.08 per transaction (for retail sales) or interchange + $0.15 per transaction (for online sales). These low rates eliminate the standard percentage markup that most other providers charge, as those charges are included as part of your monthly subscription fee. Almost all other account fees are also included in your subscription price, although you’ll have to pay an extra $7.95 per month if you need a payment gateway.

Fattmerchant can also process eCheck (ACH) payments, although they don’t disclose pricing for this option. Mobile processing is supported via the Fattmerchant Payments Mobile app, which is currently only available for iOS. The Fattmerchant Mobile Card Reader can accept either magstripe or EMV transactions and is included with your account.

Fattmerchant doesn’t advertise any discounted rates for nonprofits, and they don’t accept high-risk businesses. They’re also only available to US-based merchants. While their subscription-based pricing can result in significant savings for businesses with a sufficiently high processing volume, they’re not ideal for very low-volume merchants or businesses that are just starting out. If you’re regularly processing over several thousand dollars per month, however, we encourage you to compare their pricing with what you’re currently paying. You might be able to save a lot of money overall despite the relatively high subscription fee. For a more in-depth look at Fattmerchant, please see our complete review.

Final Thoughts

Selecting a merchant services provider should be approached with great caution. You need to really do your homework in evaluating the numerous plans and options each provider has to offer, as well as coming up with the most accurate estimate of total costs that you can. While a basic account for credit or debit card processing can be had for relatively little money, additional services will add to your costs quickly. Credit card terminals, a payment gateway, or an eCheck processing service will usually cost you more, although they will obviously be worth the price if your business needs them.

The six merchant services providers we’ve profiled here represent the best choices for a small business or one that’s just starting out. If you’re just opening your business and don’t have an established processing history or any idea of how much your processing volume will be, Square is probably your best bet. The up-front cost to start processing is exceptionally low, and the pay-as-you-go nature of their service will help you avoid monthly fees if you don’t need to process transactions every month.

When your business is large enough that you need the stability and additional features of a true merchant account, CDGcommerce, Helcim, and Payline Data are great choices. You’ll get a full-service merchant account for a very low price and will have the flexibility to switch providers without incurring a penalty. Once your business gets a little larger and more stable, Dharma Merchant Services and Fattmerchant can really save you money on your overall processing costs. To compare our top-rated providers side-by-side, check out our Merchant Account Comparison Chart.

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