What is the best payment processor for your small business or tech startup? This is a decision that can easily overwhelm a new entrepreneur considering how many options are currently on the market, but it doesn’t have to! When it comes to payment options, it pays to keep it simple.
Finding a product that makes it easy to access all of your financial information, processes payments efficiently, and has constant access to support is crucial. Long gone are the days of physical cabinets and hanging folders. Now it’s online servers and cloud backup. The better your digital payment source, the better the opportunity you’ll have to increase your profit and manage your money.
Throughout this article, we will provide you with different payment processing options so that you can find the right option for your business. We will also answer the top questions you may have when choosing a source and integrating it into your app or website.
Stripe is a big name in the startup world. They have a great brand reputation and support large startups you probably use regularly like Lyft and Pinterest.
Benefits of Stripe
- Ease of integration: Due to Stripe’s large size and support department, you can easily integrate it into your app or website. If you run into any troubles during setup you can contact support and they will help solve any issue!
- Developer-Friendly: Do you have a developer on staff who wants to customize the capabilities or design of Stripe’s integration? Stripe provides tools to developers to help them do this!
Braintree is another payment processor that has a range of impressive clients, including Uber and Poshmark.
Benefits of Braintree
- Pricing: Braintree is available for a standard flat price without additional fees to use certain features or to view analytics. This makes it a great choice for small businesses that are trying to keep costs low.
- Full Customization: While Braintree is also developer-friendly, it takes it one step further compared to Stripe and allows near-full customization. Developers can integrate Braintree almost any way they want into their current app or website.
Chances are you have heard of PayPal and most certainly used it without even knowing! They are a long-time payment processing system that has helped small businesses, startups, and large corporations alike.
Benefits of PayPal:
- Easy Setup: PayPal has a long history in the payment processing world and with this comes proven processes. Setting up PayPal for your business is easy to do and if you have any problems the large support team can help with any problem.
- Trust and Familiarity: Your clients may already be familiar with PayPal and have more trust in paying you for your goods and services.
How To Choose the Right Processor
All three of these options offer trial periods and walkthroughs with support staff. Try each one out and visit each website to learn more! One might have a feature you like more than another that could elevate your business.
Why do you need a payment source?
Now that you are familiar with three great options for payment processing you might be wondering, why can’t I just handle it all on my own through apps like Venmo or Square? While those apps are great for one on one transactions, you’ll want something more complex for your new business.
Keep in mind that you’ll be taking payments from people all over the world. Staying up to date on PCI compliance, avoiding lawsuits, and keeping track of transaction history can take all of your time if you try to do it on your own! Payment sources do all this for you for a minimal fee, trust us, it’s worth it!
How Clear Function Can Help
Not only can Clear Function build your app, but we are payment processing experts. We know how to integrate the service into your new tech, customize it to match your needs and brand identity, and help you manage it. Interested in learning more? Schedule a free call with our team to get started!