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Credit card/payment processing?

Can anyone recommend a credit card processing service with great low rates and decent service for startup companies? We anticipate a high number of customer transactions and are looking at Stripe, Square, and Braintree.

Does anyone have comments about each of these services? Who's the best and who else should we also consider?

Thanks in advance.

20 Replies

Helen Adeosun
1
0
Helen Adeosun Entrepreneur
Co-Founder and CEO of CareAcademy.co
Hey Lucia!

We use Stripe and I am quite happy with their turnaround on the payments (2 days) and the cost of transacting. Stripe needs a little more configuring but I have also heard a lot of great things about Braintree's support services. Would love to know what you select and why.

Lane Campbell
0
0
Lane Campbell Advisor
Lifelong Entrepreneur
All of the services you mentioned have been great for my needs. I've been able to get lower rates though through traditional merchant processing resellers. The best rates I have ever had were through http://donateyourprocessing.com which is an Authorize.net reseller.
David Paxton
0
4
David Paxton Entrepreneur
Premier Merchant Consulting Services
That's what I do. Those services are OK if you are tiny and don't care about pricing and understanding your processing.
I can offer much better pricing, along with a number of other creative ideas to increase business. And to understand how it all works so you are educated going forth.

David
PMCSNYC@gmail.com
[removed to protect privacy]
David Paxton
0
4
David Paxton Entrepreneur
Premier Merchant Consulting Services
Connect with me on linked in. Or email. thanks

Ian Maddox
1
0
Ian Maddox Entrepreneur
Machine Learning Architect at MetricStory
Stripe and Braintree are very developer friendly, but you pay a bit more in fees. We switched to Merchant Warehouse, a firm who does cost-plus billing as opposed to flat or tiered pricing. We paid significantly less than we did with FirstData/LinkPoint. Dev integration was almost as easy as Stripe, and they have great support for payment profiles (an absolute must if you're doing recurring billing).

The biggest drawback on switching to MW is that they have a harder time articulating how much savings you'll see, especially if you don't already have transaction flow. If you do have active sales, you can give them a block of transaction data and they can show you side-by-side if their pricing model will benefit you.
Chris Korhonen
0
0
Chris Korhonen Entrepreneur
Experienced Product Engineer & Leader, CTO of Minibar Delivery
Both Braintree and Stripe are good choices if you want to get up and running quickly, great developer SDK's etc. and support for the latest innovations such as ApplePay. Easy to use dashboard too.

As some have said, if you are doing a lot of volume and don't care too much about the developer end then you can probably get better rates with authorize.net or similar.
Benjamin Olding
4
0
Benjamin Olding Advisor
Co-founder, Board Member at Jana
If you haven't gone through it before, go with the easiest to start & optimize later. We used Braintree; it was easy and worked the first time with no issues for our customers. As a percentage of your revenue, the difference in fees for the first six months isn't going to break you; messing up your initial launch or accounting might.

All fees are annoying, but don't lose sight of the business objectives and do something clever (i.e. non - standard) just to optimize revenue you don't have yet. Try to only be clever with things you have experience with - advice I give mostly as a reminder to myself to follow.
David Crooke
0
0
David Crooke Entrepreneur
Serial entrepreneur and CTO
These are all great services. I've also used PayPal with clients. The one thing I'd say is don't get overly focused on the discount rate (percentage) ... look at the total cost including all fees and value received.
Jeff Kuchak
0
0
Jeff Kuchak Entrepreneur
Owner/Artis at Storm Spoons
I have used square and PayPal. Square puts your money directly into your account very fast, where PayPal makes you jump through hoops and it takes much longer. I use mine for running cards at art/craft shows. Both allow off line processing and invoices can be sent to customers.
Mike Moyer
0
0
Mike Moyer Entrepreneur • Advisor
Managing Director at Lake Shark Ventures, LLC
My developer's love Braintree and there are no fees on your first $50,000 in charges... I'm not sure if the others do this...

-Mike
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