Merchant services offer dedicated merchant accounts for greater payment processing security and stability.
Limited-time offer: Earn a $400 statement credit when you process at least $5,000 in transactions within 60 days of approval of your new U.S. Bank Payment Solutions account. Member FDIC.
To qualify, you must (1) open and be approved for a U.S Bank Payment Solutions Merchant Account (MID) between April 1 and June 30, 2026, (2) process at least $5,000 in transactions within 60 days of approval, and (3) keep the approved account in an open status and be actively accepting and settling card payments at the time the statement credit is issued.
Merchant services are similar to payment processors, but their biggest advantage is the provision of a dedicated merchant account, unlike processors, which usually offer aggregate services.
A dedicated merchant account offers greater account stability, meaning you won’t experience frozen funds or accounts due to changes in payment and processing volumes.
Moreover, the best merchant account providers offer competitive rates and flexible solutions for processing in-person and online payments.
Processing fees are a key deciding factor when choosing the best merchant service for your business. The table below illustrates the monthly fees, per-transaction fees, and fee structure for each of our recommended merchant services.
Don’t need a dedicated merchant account? See our roundup of the best payment processors, which includes aggregate processors like Square.
Our rating: 4.61 out of 5
Helcim has an automated volume discount and interchange-plus pricing model with no monthly fees, which is a rare find for a dedicated merchant account. You can consider it an all-in-one merchant account provider. In addition to affordable fees, it supports a wide range of payment options, including Level 2 and 3 credit card data processing for B2B payments.
Businesses of all sizes will find Helcim’s interchange-plus pricing, automated volume discounts, and zero-cost processing a very affordable option. I have evaluated dozens of merchant service providers, and Helcim’s variety of payment methods is among the best in the market. It can support a wide range of industries, too. Real-world user feedback also praises its high-quality customer support.
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Our rating: 4.56 out of 5
PaymentCloud provides traditional merchant services in addition to high-risk merchant account services. However, it is best known for high-risk payment processing because it has an excellent reputation for getting businesses approved. PaymentCloud integrates with all payment gateways, so you can use your preferred gateway, or it can help you find a more compatible gateway solution for your business.
What I like about PaymentCloud is that it takes a very hands-on approach to getting you approved with partner banks and works with multiple payment processors to get you the lowest rates. The company partners with ten banks and has a 98% approval rate.
PaymentCloud can likely approve you even if other merchant account providers have rejected your application. After approval, it helps with onboarding, such as setting up advanced fraud/filtering for your payment gateway.
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Our rating: 4.55 out of 5
Chase is a renowned banking and financial institution that also offers a merchant account service, Chase Payment Solutions®. What sets Chase apart from other providers is that it can leverage its strong banking infrastructure to provide better transaction rates, faster fund transfers, robust insights, and solid security.
I like that Chase can offer custom interchange-plus rates for qualified merchants — it is actually one of the few direct processors that can rival the fees Helcim offers small businesses. Ultimately, to fully enjoy all of Chase’s features, you’ll need a Chase business checking account. Having Chase as both the processor and receiving bank in transactions can provide better speed and security because of the lack of an intermediary.
Visit Chase Payment Solutions®
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Our rating: 4.45 out of 5
Dharma offers low-cost interchange-plus pricing, with volume discounts for merchants processing more than $100,000 or 5,000 transactions. Overall, Dharma is a well-known processor with an excellent reputation for fairness and transparency.
It also offers flexible hardware options and accounts and support for a variety of business types, including retail, restaurants, in-person, and online businesses.
Dharma is known for being very transparent in pricing, with every fee listed on its website. Dharma specializes in helping nonprofits, having donated over $750,000 to nonprofits. It has one of the lowest rates for card-not-present transactions. If your business processes at least $10,000 in monthly credit card transactions, Dharma is a good solution for you.
*Discounts available for merchants processing over $100,000 per month, over 5,000 transactions per month.
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Our rating: 4.42 out of 5
U.S. Bank provides business banking, payment processing, and point-of-sale services. It has its own processing service (Elavon) and POS system (talech) but can work with other payment gateways, ecommerce platforms, and other POS systems. U.S. Bank also processes almost all payment methods, including deposit checks, debit cards, and Zelle business payments.
Of all the merchant services I recommend, U.S. Bank is the only service providing Everyday Funding. This lets you get funds seven days a week, including weekends, and is available at no additional cost for deposit account customers. Note, though, that same-day funding is dependent on batch times. Activation usually takes three to five business days from the service request date.
*Custom rates and plans available.
Visit U.S. Bank
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Limited-time offer: Earn $400 when you process $5,000 in transactions within 60 days of approval of your new U.S Bank Payment Solutions account and complete qualifying activities. Member FDIC.
To qualify, you must (1) open and be approved for a U.S Bank Payment Solutions Merchant Account (MID) by June 30, 2026, (2) process $5,000 in transactions within 60 days of approval, and (3) keep the approved account in an open status and be actively accepting and settling card payments at the time the statement credit is issued.
Our rating: 4.39 out of 5
Stax offers membership-based interchange-plus pricing that is better-suited for businesses processing more than $10,000 per month. Accept a variety of payment methods—invoicing, hosted payment pages, payment links, QR codes, and a one-click online shopping cart. You can also schedule recurring payments and get compatible hardware from other POS providers. Stax also offers surcharging through its sister company, CardX, which allows you to legally pass along processing fees to customers.
Stax has outstanding features tailored for subscriptions and recurring billing. You have access to secure card-on-file payments, advanced CRM, and self-service customer portals. One of the features you also do not usually get with recurring billing are short message service (SMS) text-to-pay solutions and robust reporting — something you get with Stax.
Visit Stax
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As with all payment services, the best merchant service will depend on the types of services your business needs. Some merchant services are more compatible with certain businesses than others. Know your payment methods, which tools you need (invoicing, recurring billing, virtual terminal, POS hardware, etc.), and which ones match your required business integrations, like accounting software. It is also important to think about security features and chargeback management.
I evaluated dozens of merchant services and scored them using our in-house rubric of 19 data points across categories like pricing and contract requirements, features, security, and stability. I also factored in our own experience and feedback from real-world users. Finally, I only included merchant services that offer direct merchant accounts, which provide more security and stability.
This article and methodology were reviewed by our retail expert, Meaghan Brophy.
Agatha Aviso is a seasoned expert in retail, eCommerce, and order fulfillment, with a specialization in payments, POS systems, and eCommerce software. She has collaborated with startups and service-based entrepreneurs on content strategy, offering digital marketing expertise and guiding small business owners in launching their online storefronts. Beyond consulting, Agatha applies her knowledge firsthand—building her own website as well as ecommerce sites for the platforms she reviews.
