Apple and Microsoft. Coca-Cola and Pepsi. McDonald’s and Burger King.

In every industry, there are at least two major players that everyone knows. In the world of payment processing for eCommerce businesses, those two are Square and Stripe.

Many businesses build their entire payment infrastructure on these platforms — and for good reason. They’re great services with lots to offer small businesses. 

However, they’re not ideal for everyone. And just because something is popular doesn’t mean you should automatically assume it’s high quality. 

Stripe, for instance, isn’t available in some countries. Square, on the other hand, may not be flexible enough to meet your needs.

We’ve compiled 11 Stripe and Square alternatives and highlighted what makes them worth your attention.

Whether you want to cut down your processing fees or you’re wanting to explore all your options before investing in a payment solution, we’ve got you covered. 

Let’s dive right in.

1. PaymentCloud

PaymentCloud is an excellent payment service provider for businesses with high average monthly transactions.

The solution comes with several Point Of Sale (POS) options, including mobile, online and in-person. That way, your eCommerce store can handle every payment type you need to accept.

Further, PaymentCloud offers virtual terminals to enable seamless credit card processing with the client being present.

Virtual terminals are ideal for cards saved on file, as with over-the-phone orders and subscription services. The best part? You can set up automatic payments for recurring billing and invoices.

PaymentCloud also supports in-person transactions via swipe, tap, inserted payment cards and QR codes. The service offers wireless options and countertop terminals for brick-and-mortar operations, making in-person transactions easy.

And, just as you’d expect with a good eCommerce payment gateway, PaymentCloud can integrate with multiple eCommerce platforms, including BigCommerce, Shopify, WooCommerce, Shift4Shop, WordPress, and more.

Moreover, PaymentCloud’s payment gateways are PCI compliant to guarantee secure transactions.

And, if your customer doesn’t want to pay by credit card, PaymentCloud can accept alternative payment methods, including e-check, cryptocurrencies, and ACH payments.

Even more impressive, PaymentCloud offers cash advances and loans for businesses of all sizes and business owners whose credit history disqualifies them for bank loans.

Pros

• Offers a variety of hardware so businesses can easily find what they need.
• The ability to integrate with many shopping carts for eCommerce businesses makes PaymentCloud an excellent option for people with a preferred cart provider.
• Ideal for high-risk businesses that struggle to find merchant services providers.

Cons

• The pricing structure isn’t available on the website.
• Hidden fees (as reported by some customers).

Pricing

PaymentCloud doesn’t say how much it charges on its official website. You’ll need to contact the company directly for a quote.

 2. Amazon Pay

Launched in 2007, Amazon Pay allows online shoppers to safely pay for merchandise on a merchant’s store using their Amazon account.

As an eCommerce seller, you can create an Amazon Pay account and add the Amazon checkout button on your website.

The service integrates with popular eCommerce platforms like Magento, BigCommerce, Magento, and others to help eCommerce business owners streamline the checkout process.

Amazon Pay is ideal for online-based businesses that don’t require custom plans or volume discounts.

Some of the most notable features include inline checkout, a function that allows shoppers to key in their payment info and complete transactions without leaving your website. Apart from being convenient to the buyer, this feature also increases the chances of completing a sale.

Meanwhile, the widget buttons, available in multiple versions and sizes, allow you to place sign-in buttons easily on your website.

There are two categories of Amazon Pay buttons:

• Ones that allow a shopper to initiate an order on your cart or product page.
• Login with Amazon buttons, designed to let a shopper sign in to your online store using their Amazon account info before or during the checkout process.

Is Amazon Pay safe? Yes, very much so. The platform uses the same technology used by Amazon to safeguard accounts against fraud.

Further, Amazon Pay has a Payment Protection Policy for merchants, permitting them to implement chargebacks for fraudulent transactions.

In addition, this online payments processing platform allows merchants to Access Amazon’s Seller Central dashboard. Here, you can view reports and manage chargebacks and orders.

And then there’s the voice solutions, a function that enables customers to shop or donate using their Alexa devices.

Pros

• Intuitive dashboard.
• Easy to trust for customers with an Amazon account.
• Global customer and currency support.
• No monthly or setup fees. You’ll only pay per transaction.
• Ability to place and track orders via Alexa voice integration.

Cons

• Delayed payout due to reserve policy.
• No volume discounts.
• No in-person payment support.

Pricing

Amazon Pay uses a flat-rate pricing structure as follows:

Online and Mobile Payments

• 2.9% processing fee and a further $0.30 authorization fee for domestic US transactions
• 3.9% processing fee and a further $0.30 authorization fee for cross-border transactions

Alexa Voice

• 4 % processing fee and a further $0.30 authorization fee for domestic US transactions
• 5 % processing fee and a further $0.30 authorization fee for cross-border transactions

Charitable Organizations

• 2.2 % processing fee and a further $0.30 authorization fee for domestic US transactions
• 3.2 % processing fee and a further $0.30 authorization fee for domestic US transactions

3. National Processing

National Processing is one of the best Square or Stripe alternatives if you’re looking for useful integrations, competitive rates, and extensive card reader compatibility.

It is also a great payment process for high-risk merchants such as eCommerce stores selling tobacco or dropshipping businesses.

National Processing comes with a POS system that has a host of impressive features, including:

• Staff management.
• Real-time reporting.
• Inventory management with alerts.
• Employee time tracking.
• Gift card management.

The beauty of this is that the POS system also has functions distinct to specific industries.

What’s more, National Processing allows you to buy credit card readers with your account or use one you already have.

Besides, you can reprogram your current card readers, enabling you to continue using your favorite model if you switch to National Processing.

On top of that, National Processing offers SwipeSimple, a virtual terminal that allows shoppers to enter credit cards manually when making over-the-phone orders or when they don’t have a credit card. 

The National Processing payment gateway lets you connect your shopping cart with a virtual terminal and POS system.

Pros

• Great for merchants in high-risk industries.
• Integration with popular accounting solutions, including QuickBooks and Open cart. 
• Dedicated account manager.
• Free equipment available.
• Low interchanges and rates.

Cons

• Free equipment cancellation fees.
• Conditions to waive termination fees.

National Processing offers three interchange-plus plans for various businesses and industries as follows:

• eCommerce: Interchange plus 0.29% plus $0.07.
• Retail: Interchange plus 0.08% plus $0.10.
• Restaurants: Interchange plus 0.14 percent plus $0.07.
• All plans attract a monthly fee of $9.95.

Other costs are as follows:

• ACH processing: Interchange plus $0.48 for every transaction and 1.5% for individual transactions over $5,000 and a $15 monthly fee.
• Subscription: Interchange plus $0.09 and a $59 monthly fee.

4. 2Checkout

2Checkout is a digital commerce platform for businesses dealing with online digital or physical products.

It is also ideal for eCommerce stores that need advanced subscription tools or process international transactions.

It boasts stellar global payment options and subscription billing features, making it stand out when pitted against competitors.

Apart from enabling small businesses to accept and process credit card payments for digital and physical goods, 2Checkout also gives users access to over 120 cart integrations to customize buyers’ checkouts.

2Monitize plan, the highest 2Checkout tier, has features like regulatory compliance and global tax and invoice management. It also comes with tools to help boost conversion and access to over 45 payment methods.

Further, the platform offers multiple payment models structured as follows:

• Merchant of Record: 2Checkout takes up the financial liability to process your store’s transactions. This way, that platform handles compliance, invoicing, and sales tax management.
• Payment Service Provider: The business owner takes care of financial liability management.

Pros

• Availability of subscription tools designed to help you retain customers.
• International reach.
• Accepts dozens of currencies and payment methods.
• Supports multiple checkout languages.
• Live support.
• Easy to navigate dashboard.

Cons

• Can only accept online payments.

Pricing

2Checkout’s pricing plans are structured in three tiers as follows:

• 2Sell: 3.5% plus $0.35 for every successful sale.
• 2Subscribe: 4.5% plus $0.45 for every successful sale.
• 2Monitize: 6 % plus $0.60 for every successful sale.

5. Braintree

Braintree is a good Stripe or Space alternative if you’re looking for a merchant services provider to process payments for your eCommerce store or mobile apps.

While Braintree offers several options, it thrives on online payment processing. The platform lets businesses accept and process online payments made via:

• Credit cards including American Express, Mastercard, Visa, Diners Club, and Discover.
• Digital wallets like Maestro, Google Play, and Apple Play.
• Debit cards such as Maestro, Mastercard, and Visa.
• PayPal.
• ACH.
• Venmo (only available in the US).

Braintree’s payment gateway has everything the platform offers beyond processing payments, including API and a super-responsive control panel.

In addition, Braintree’s marketplace lets you seamlessly manage several aspects of your store, including splitting payments with your providers. 

Braintree is also available in 130+ countries, and you must have an account in one of those countries to use the platform. 

Also, Braintree is a PayPal product. You can think of it as PayPal’s “advanced feature” service designed for eCommerce businesses that target customers who prefer PayPal to shop online.

While this platform supports eCommerce, it handles in-person payments via PayPal Here card readers. So if your store accepts PayPal payments, you need to order a PayPal card reader for $24.99.

Pros

• Transparent, competitive pricing.
• No contract, minimal fees.
• Supports extensive integrations.
• Multiple currency support.
• Excellent developer tools.
• Comprehensive payment type support.

Cons

• Not open to high-risk business.
• Reports of deactivated accounts and money help.
• Long setup times for accounts.

Pricing

Braintree charges a flat rate based on the transaction type as follows:

• 2.59% plus $0.49 for every credit card transaction.
• 0.75% (maximum $5) for every ACH transaction.
• 3.49% plus $0.49 for every Venmo transaction.

6. Payment Depot

Payment Depot is a good Stripe alternative for businesses processing at least $10,000 per month. The platform’s functionalities are perfect for organizations like healthcare facilities and restaurants.

The service uses membership pricing, also known as subscription pricing. This way, merchants can save money on overall processing costs and fees.

While Payment Depot isn’t a direct processor, it partners with TSYS and Fiserv to provide online payment processing services. The platform sets up and manages your account while giving you access to the back-end processor.

Further, the service offers several countertop terminals, including SwipeSimple, PAX, and Dejavoo. These terminals come with software that allows you to interlink your account and Payment Depot’s transaction processing network.

On top of that, the platform uses the SwipeSimple app and compatible hardware to enable merchants to process mobile payments. Plus, the company can integrate a payment gateway to your online store.

Authorize.net is the most popular option, even though you can use other options depending on your preferences.

Other notable features include a free virtual terminal that enables merchants to use their Windows computers as a credit card terminal. And then there’s the business funding option for a business that needs a financial boost immediately.

The company lets businesses process credit card payments online and in person.

Pros

• Free payment gateway.
• Transparent pricing structure.
• Few negative reviews.
• No setup or application fees.
• True month-to-month billing.
• Excellent customer supports.

Cons

• Accepts merchants based in the United States only.
• It can be expensive for low-volume businesses.

Pricing

Payment Depot charges a monthly fee depending on your plan as follows

• Starter: $59 for an annual processing limit of $125,000.
• Starter Plus: $79 for an annual processing limit of $250,000.
• Growth: $99 for an annual processing limit of $500,000.

7. Sezzle

Sezzle is an online “buy now, pay later” solution that allows merchants to receive payments for merchandise in four installments over six weeks at zero interest for the buyer.

This platform aims to split payments to allow shoppers to get items even when they don’t have the full amount for the product.

Sezzle charges late fees for customers unable to repay installments on time. The platform assumes all credit risk, and the eCommerce merchant receives the full payment.

When a buyer places an order through Sezzle, the solution’s approval system vets the buyer to determine the payment plan.

In most cases, the first payment is 25% of the total order amount. The balance is spread across three different installments, each due in two weeks.

When a shopper successfully places an order on Sezzle, the platform pays the eCommerce merchant in full immediately. That way, the merchant can receive their money and process the order the same way if the shopper paid using a credit card.

The checkout process is pretty straightforward. All the buyer needs to do is shop at a store that supports Sezzle as a payment option.

Pros

• Handles repayments, fraud, and chargebacks.
• Great for driving more sales to your store.
• API edition works with many eCommerce platforms.
• Easy to register.

Cons

• Not as feature-rich as other full-fledged payment processors.

Pricing

Sezzle charges a percent of each order and a small processing fee. There are no setup or sign-up costs.

When you register, the Sezzle’s team will inform you about the rates that apply to your store. The rate may differ from store to store depending on your products and how long you’ve been in business.

8. Payanywhere

Payanywhere is a payment processing solution for United States eCommerce businesses looking to accept credit card transactions online, on the go, and in-store.

The platform is also great for merchants searching for a mobile Point Of Sale with straightforward pricing. Payanywhere’s selling points are free next-day funding and flat-rate pricing.

Launched in 2011 by North American Bancard Holding, LLC, this service is ideal for a broad range of merchants, including nonprofits, professional services, and retail stores.

Apart from processing payments, Payanywhere also offers a variety of tools for employee management, inventory, reporting, and invoicing.

To get started, you’ll need to send an application to Payanywhere’s official website. You’ll choose a plan that best suits your needs and hardware and provide your personal, banking, and business info.

The company will notify you about the status of your application within 24 hours via email.

If your application is accepted and set up, you can start to accept credit and debit cards as well as contactless in-person or online payments.

Payanywhere offers a virtual terminal in the payment hub to enable you to process payments directly from your computer for online or over-the-phone orders.

This platform offers two integrations: QuickBooks Online to synchronize transactions and Homebase, a scheduling software.

Pros

• Great for low-volume merchant.
• Free card reader.
• Same day funding.
• Free virtual terminal.
• Free mobile processing app.

Cons

• Limited integrations.
• Potential termination fees.

Pricing

Payanywhere offers two pricing plans structured as follows:

Pay As You Go

• 2.69% per transaction for Tapped, Dipped, or Swiped.
• 3.49% plus $0.19 per transaction for keyed, invoicing, virtual terminal, and recurring payments.

Custom

• You can contact Payanywhere’s sales team for a quote based on your needs.

9. Shopify Payments

Shopify Payments is an integrated payment processor that facilitates online payments.

Shopify Payments provides several payment methods and reasonable processing fees, making it one of the best Square or Stripe alternatives for merchants using Shopify for their eCommerce stores or POS.

Since the platform handles the payments on your behalf, you can accept payments immediately after your store goes live.

Further, because Shopify Payments is integrated into the Shopify store, shoppers can leverage seamless checkout while enabling merchants to keep their sales and payments info within the platform’s ecosystem.

Shopify Payments allows store owners to receive and process payments made using major credit cards like MasterCard, Visa, American Express, and Discover.

The platform also automatically accepts credit and debit cards, JCB, Union Pay, and Elo via Discover.

Merchants can choose plans that enable them to sell in multiple currencies and, by extension, target international customers. Still, payments made using credit cards issued outside the US attract a 1% fee.

You can expect funds to hit your bank account in two days if you’re in the United States. There are no restrictions on the number of transactions you can process.

Shopify Payments will always transfer your money on the same payout schedule. You only need to have at least $1 to get paid.

Pros

• No extra transaction fees.
• Real-time monitoring.
• High-security measures.
• Seamless integrations.
• Low processing fee.
• Quicker checkout process.

Cons

• Strict chargeback policies.
• Shopify Payments can temporarily hold your money.

Pricing

Shopify Payments uses a flat-rate pricing model irrespective of the customer’s card. Still, the specific rates merchants pay depend on the subscription plans they’ve chosen and whether the shopper buys in person or online as follows:

• Basic: 2.9 % plus $0.30 per online transaction and 2.7% per in-person transaction.
• Shopify: 2.6% plus $0.30 per online transaction and 2.5% per in-person transaction.
• Advanced Shopify: 2.4% plus $0.30 per online transaction and 2.4% per in-person transaction.

10. Dwolla

Dwolla aims to enable eCommerce stores to accept and process ACH payments, an alternative to paying with check, debit, credit, or cash.

Shoppers can transfer money electronically from their bank accounts into your business account. Merchants can process refunds and credit using ACH to the buyer’s account.

The platform is ideal for businesses that accept bank transfer payments like utility providers and reimbursement services.

Dwolla’s features include a digital wallet that allows you to hold the money received from payments. Merchants can use funds held in their digital wallets to make other payments.

In addition, Dwolla supports recurring and scheduled payments. Customers can transfer payments to your bank account on a pre-agreed date through this function. You can also agree to have these scheduled transactions recurring.

Regarding integrations and add-ons, Dwolla is compatible with four 3rd party applications — QuickBooks, Sift Science, Plaid, and Slack.

And because the platform verifies a shopper’s bank account to ensure sensitive info doesn’t infiltrate your server, you can rest assured that Dwolla is fraud-proof. Besides, the service encrypts data exchanged over its network, safeguarding your information from theft.

Pros

• Merchants can handle white-label payments.
• Excellent customer support.
• You can offer next-day and, at times, same-day payments.
• Low transaction fees.

Cons

• No credit transactions.

Pricing

Dwolla pricing is structured as follows:

• Pay As You Go: 0.5% for every transfer with a $0.05 minimum and a $5 maximum.
• Scale: Contact Dwolla’s sales team for a quote based on your specific needs.

11. Lightspeed POS

Lightspeed is a cloud-based POS offering software and hardware for eCommerce businesses. The platform boasts top-notch inventory management capabilities, enabling merchants to accomplish several tasks, including:

• Tracking merchandise across multiple stores.
• Adding product variations.
• Using a built-in vendor catalog to order inventory.

Lightspeed POS is ideal for more established businesses or stores with multiple locations.

Top on the list of this platform’s impressive features is the seamless checkout process that allows customers to complete purchases from anywhere using mobile devices like iPads.

Also, Lightspeed POS has an integrated Customer Relationship Management (CRM) function to help merchants create and maintain detailed customer profiles.

With the database, you can see your customer’s purchasing habits and history, enabling you to reward loyal shoppers with incentives such as special discounts.

What’s more, with Lightspeed POS as your eCommerce platform, you can access 50+ customizable templates to help you design customized product pages.

This POS offers 40+ report templates, allowing merchants to monitor inventory, sales, employee performance, the effectiveness of marketing campaigns, and more.

You can integrate Lightspeed with popular accounting platforms like Sage, Xero, and QuickBooks.

Pros

• Robust inventory management.
• Around-the-clock customer service.
• Extensive 3rd party integrations.

Cons

• Lightspeed POS can be expensive for newer, small businesses, especially because most of them don’t need the many paid features.
• You need to sign up for an annual contract for lower pricing.

Pricing

Lightspeed POS is available in three plans priced as follows:

• Lean: $79 per month and $29 for every additional register per month.
• Standard: $139 per month and $29 for every additional register per month.
• Advanced: $239 per month and $29 for every additional register per month.

 The bottom line

Sometimes, the most popular choice isn’t the best one. That’s why we’ve put together this post, so you can make the most informed decision about which payment processor to use for your eCommerce business. 

Square and Stripe are excellent options, but they may have limitations that’d prevent you from reaching your business goals. 

While the 11 Stripe and Square alternatives highlighted in this post aren’t the only ones available, these offer robust features that most eCommerce business owners will find helpful.

For more practical and data-backed advice on running and growing your eCommerce business, subscribe to our blog, or check out these posts next:

• 30 Big Ecommerce Trends to Watch Out For in 2023
• 13 Best Free Online Stores to Start Your eCommerce Business
• SaaS vs. Open Source Ecommerce: What’s the Difference and How to Pick
• 33 Top Ways To Drive Traffic To Your eCommerce Website For Explosive Growth

Happy selling!