6 Cheapest Payment Gateways of February 2023

Adyen: Best overall payment gateway

Pricing type: Interchange plus.

Payment processing fees: 

Monthly fee: None.

Why we like it: Adyen's slim margin on top of standard bank and card network fees is among the lowest we've seen. However, there are monthly transaction volume minimums, and you'll need to contact Adyen to see if you qualify. Read NerdWallet's complete Adyen review.

Pros: 

• Low pricing.

• No monthly fees or termination fees. 

Cons: 

• Adyen has monthly minimums, which vary by industry and business model. This means some smaller businesses might not be able to use Adyen.

• Some information, such as what your monthly minimums could be, isn't available on Adyen's website.

Helcim: Best for transparent interchange-plus pricing

Pricing type: Interchange plus.

Payment processing fees: 

Monthly fee: None.

Why we like it: Helcim offers low interchange rates, and its website shows exactly what you'll pay for any card a customer uses. Read NerdWallet's complete Helcim review.

Pros: 

• No contracts, no monthly fees and no minimums. 

• Pricing is easy to understand.

Cons: 

• Helcim offers better rates for businesses with higher volume, but you'll need to do more than $25,000 in monthly card sales before the first price reduction kicks in. That amount might be tough to reach for some small businesses.

Braintree: Best for alternative payment options

Pricing type: Flat rate.

Payment processing fees:

Monthly fee: None if you use Braintree as a processor; $49 per month and 10 cents per transaction if you use a different payment processor.

Why we like it: Braintree is owned by PayPal and benefits from its additional built-in payment options, like Venmo and "buy now, pay later." It's cheaper than the PayPal-branded payment gateway, Payflow, but requires coding skills. Read NerdWallet's complete Braintree review.

Pros: 

• Includes alternative payment methods, like the PayPal button, Venmo and buy now, pay later.

• You can use Braintree as your payment gateway and another company as your payment processor. In this case, Braintree's services will cost $49 per month and 10 cents per transaction.

• It accepts payments in over 130 currencies and is available in more than 45 countries.

Cons

• Requires coding skills to implement.

• Unlikely to be the cheapest option for businesses with lower receipt averages.

Stripe: Best for customized checkout pages

Pricing type: Flat rate.

Payment processing fees: 

Monthly fee: 

Why we like it: Like Braintree, Stripe offers a payment gateway with a high level of customization. They both also use flat rates. Stripe's variable rate is higher than Braintree's, but the flat rate is lower, making it the cheaper option if your average transaction is under $61. Read NerdWallet's complete Stripe Payments review.  

Pros: 

• Stripe is coder-friendly, which is great if you build your own site.

• Flat-rate pricing makes costs predictable.

Cons: 

• It can require coding skills to implement. 

• Stripe Checkout, which requires minimal tech expertise, costs $10 per month to host on your site.  

• Likely more expensive than interchange plus pricing.

Stax: Best for high sales volumes

Pricing type: Interchange plus.

Payment processing fees: 

Monthly fee: Monthly subscriptions start at $99.

Why we like it: Stax's rate doesn't add a percentage margin to the interchange rate — it adds only a fee of either 8 cents for in-person transactions or 15 cents for manually keyed transactions. However, there's a monthly fee that can be hefty for some. On the other hand, it could be cost-effective if you're spreading it across a high sales volume. Read NerdWallet's complete Stax review.

Pros: 

• No interchange markup.

Cons: 

• A high monthly fee makes the total cost less compelling for businesses with lower sales volume.

Chase Payment Solutions: Best for quick payouts

Pricing type: Flat rate. Interchange-plus is available for larger businesses.

Payment processing fees: 

Monthly fee: Monthly fee in some instances.

Why we like it: This payment gateway combines Chase and Authorize.net services. It's a nickel cheaper per transaction compared with working directly with Authorize.net. In addition, if you use a Chase business checking account, you'll get your money the next day — faster than the industry standard of two business days. Read NerdWallet's complete Chase Payment Solutions review.

Pros: 

• Competitive flat-rate pricing.

• Next-day payouts.

Cons: 

• You must use other Chase products to get the quickest deposits.

• There can be a monthly fee.

Important factors to consider when comparing prices

Look for transparency

It's easiest to compare prices when they're published. A company that uses custom pricing or requires you to call for a quote might have a reasonable price, but it takes more time to compare. Aside from monthly and processing fees, look for other fees that could impact your costs. 

Know what type of service you need

Not all payment gateways work the same way. Some will redirect customers away from your site to the gateway's site for payment, which can negatively affect completion rates. Others have pre-built payment gateways you can embed directly on your website. White-label gateways allow you to build a custom checkout experience on your site, which can be a good addition but one that requires technical skills.

It's important to confirm that the gateway will work the way you expect and have a price tag you're comfortable with. 

Avoid extra fees (most of the time)

There's no getting around paying a per-transaction fee. But most businesses can avoid companies that charge additional fees, like fees for setup or PCI compliance, a process that keeps card data secure. 

However, not all fees should be avoided equally. Before you rule out every payment gateway that charges a monthly fee for service, consider the total costs. Companies with monthly fees sometimes offer great per-transaction fees. Depending on your sales information, you might come out ahead, even after paying a monthly fee. The only way to know for sure is to run your numbers. Use this calculator to estimate your costs: