Top 5 Payment Processors for Small Businesses in 2022 – Quick Reviews of Your Best Options

by Staff

You need to pay attention to many things when setting up a business, and having a payment processor is one of them. It is a must in today’s payment industry and eases transactions while adding convenience.


But then, what is the best payment processor for a small business? Here are the top runners.




If you shop online, you might be familiar with Worldpay already. It is one of the leading names on the market and represents a primary choice in a few developed countries, including UK. It deals with both small and large businesses.


Despite its popularity, you will not be charged a fortune to do it. You are less likely to need a business cash advance bad credit to afford its services. Furthermore, it is scalable, so it will allow your business to grow. Customers include governments, banks, supermarkets, and multiple eCommerce sites.


Money is transferred over a secure SWIFT network. It is easy to implement and offers flexible pricing. However, you will need a contract – usually about 18 months. Finishing it early will bring in some fees, so make sure it suits your business needs upfront.




SumUp is great for small and new businesses with no ambitions to expand overnight. Started in 2012 as a small business for the local German market, SumUp serves more than three million customers worldwide, so you can leave yourself in good hands.


SumUp handles small and middle-sized businesses – from street food vendors to retail stores and restaurants. It accepts most cards and the opportunity to pay by phone applications. It also offers different types of card readers – with different features, of course.


You need to figure out what your business needs first. The app allows you to receive reports, keep an eye on transactions and even check the inventory at a glance. There is no rental contract, and there are no hidden costs.




Opal may sound new, but the company is not. It was initially known as Sage Pay, but it was rebranded. Unfortunately, the process brought in higher fees, but overall, the payment processor is still affordable and suitable for small businesses in various industries.


The past years since it was taken over – 2020 – were incredibly good for Opal. Its services were restructured, so the overall experience is pretty much flawless. This type of payment processor will not let you down – plus, it offers great customer service round the clock.


There are no monthly or yearly fees, as well as no hidden fees. Cloud solutions are also available. Given its reputation, Opal has also partnered with websites like Shopify and WooCommerce – if you use any of these platforms, the implementation is even easier.




PayPal is a classic. It may feel a bit pricier than other payment merchants, but its reputation will add to your customers’ peace of mind. The payment gateway from PayPal is known as Payflow and is used by more than 220 million people worldwide – variable fees depending on your business needs.


The application is excellent for mobile uses and suitable if customers rely on applications to order. You also have a seller’s protection program, which is great if you deal with highly valuable items. But all these things come with a price, so you must consider what it takes to benefit from such a service.


For example, unlike other payment processors, PayPal will not refund your transaction fees if a customer decides to return the purchase. With all these, PayPal is still a trusted brand, especially for domestic companies that require instant payments – it is easy to implement, convenient and straightforward.




Stripe allows a deep level of customization. It is a full service, meaning you can access a payment gateway and a merchant account. Given all these, you can customize it in the smallest details with your business needs in mind. Numerous big brands and works trust it for all businesses.


It makes no difference if you have a small or large business. Besides, you can implement the payment page on your website or use the one on the official website. The biggest benefit of this platform is the possibility to make global payments and numerous features for this purpose.


Stripe supports around 140 countries, is suitable for dropshipping businesses, and allows designing your checkout page. It is not perfect, though. If a customer pays with a card associated with an account in a different currency, you will have to pay a currency conversion fee.


These are some of the best and cheapest payment processors out there. They are suitable for small businesses but also work wonders for larger companies. Your business needs should dictate the final decision.

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The New Jersey Digest is a new jersey magazine that has chronicled daily life in the Garden State for over 10 years.

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