Best Payment Processor for Entrepreneurs

When you end a year around 50k and $1,300 of that went to PayPal in transaction fees, you begin searching for alternatives. The best option is getting your client to cut you a check, but let’s be honest. It is 2021, not many people are willing to do that anymore. SO here are some of the best payment processors on the market for small businesses:

Paypal:

PRO – Integrates well with many CRMS including Dubsado (which can be used as an invoicing system)
CON – 2.9% + 30 cents for every transaction
CON – doesn’t mesh well with QB

Stripe

PRO – Integrates well with many CRMS including Dubsado (which can be used as an invoicing system)
CON – 2.9% + 30 cents for cards then bank transfer is .8%
PRO – You can do ACH
CON – data that gets pulled into QB still needs to be coded properly

Venmo Business

CON – Need to use Business (currently only select people can get it) in order for it to be legal
PRO – 0 Transaction fees until April then 1.9% + 10 cents per transaction
CON – doesn’t integrate with CRMS/ invoicing systems yet

Bill.com

PRO – Good if you are an accountant because it has a lot of capabilities and allows for many users
CON – if you are just an entrepreneur with one business it is unnecessary

What do you use? Do you love it or are you looking to switch your payment processor in 2021?

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