Merchant Account Reviews

Payment Nerds offers a centralized, all-in-one payment processing platform with helpful agents who are able to get accounts up and running quickly. They offer competitive rates and terms to low-and high-risk businesses alike. According to the company's website, 98 percent of the merchants who apply are approved. Though small, low-risk businesses are eligible, Payment Nerds seems to cater mostly to larger businesses and high-risk businesses especially.

If you have a low-risk, low-volume business and send out a limited number of invoices per month, Wave is a pretty good bet, as long as you don't need to accept in-person payments. And if you’re an existing Wave user or a freelancer/sole proprietor who already makes use of Wave’s accounting tools, using Wave’s payment processing services is a no-brainer.

US Bank Merchant services offers a solid array of credit card processing solutions, including a full merchant account with a dedicated support representative, flat-rate pricing with a free plan option and month-to-month contract, same-day funding for US Bank business banking customers, and thousands of physical branches across the company. That being said, there are complaints about its POS partner, talech, and especially about its backend processor, Elavon.

On the whole, CardX by Stax can be a good surcharging solution for businesses that want to implement this credit card processing model to save on fees. Just be aware that using CardX does not mean you can process cards without incurring any fees---monthly account fees and debit card processing fees will still apply.

With its bespoke approach to credit card processing, Corepay can offer specialized services to many high-risk businesses that might otherwise struggle to get approved for an account at all. Corepay's emphasis on eCommerce makes it a particularly good choice for online-only businesses.

Overall, Clearly Payments receives a score of 4.5 out of 5 stars. We strongly recommend the company for larger businesses that need a full-service merchant account and can benefit from the company's pricing structure. For a look at other great choices in payment processors for Canadian merchants, check out our article on the best merchant accounts for Canadian small businesses.

Shift4 Payments is a merchant services provider that has been around under various business names since 1997. While previously best known for its Shift4 payment gateway, today it offers a complete line of products and services for almost any retail or eCommerce business. But does it work for small businesses?

VizyPay is a merchant account provider that offers credit/debit card processing, point of sale systems, a virtual terminal, and working capital loans. The company offers its services on a month-to-month basis with no long-term contracts and has an excellent public reputation.

The Shopify platform as a whole is one of our highest-rated shopping cart solutions, primarily because it provides an all-inclusive solution to a wide range of merchants.

While KIS Payments is relatively new on the scene, it stands out for several reasons, not the least of which are the relationships the company maintains with its clients. Being a small business itself, the company's goal is to simplify payments for other small business operators through dedicated advisors.