Top 6 Payment Processing Services in 2022

banner background

Digitalization of money has led to the emergence of payment gateway technology. It provides a direct connection between a website and a bank thus allowing to place payments directly on a website and deposit them into a bank account. In a nutshell, payment gateway is a server that links banks and websites for real-time completion of transactions.

What is required for a payment gateway?

  1. A secure and eligible website to issue a merchant account.
  2. A merchant account from a bank linked directly to a payment gateway. Privacy policy and SSL certificate are necessary.
  3. A payment gateway provider with a server acting as a link between website and a bank.


Pros: Well-known and reliable brand; No monthly fees; Works (almost) all over the world; Clients are able to pay you from their PayPal account; Allows your clients to pay you from their PayPal account.

Cons: No auto-bill; Manual money withdraw; Vulnerability to scam.


Pros: Auto-bill capable; Internationality (except Asia); 2 in 1: payment gateway along with merchant account.

Cons: Merchant account is required.


Check out how to build a P2P payment application for your business.


Pros: Easy-to-use and to set up. Even your secretary will manage to work with it.;  Auto-bill without a merchant account; Automatic transfer of earnings to your bank account.

Cons: Old-fashioned email support. But if the problem is crucial, they will call you one day; Comparatively high transaction fees.

Pros: Auto-bill capable; Lower transaction fees; Funds’ transfer into bank account is faster

Cons: Setup is not immediate and requires approval; Monthly fees are costly; North America and Europe only; $99 set up fee and a $20 monthly fee.


Pros: Auto-bill capable; Free setup; Your bank will help you in creating a merchant account (So cute!); 24/7/365 (Really) support.

Cons: FreshBooks users from New Zealand won’t be able to use it. Sad but true.

Fresh Books

Pros: No setup required; All that is necessary for the payment is a credit card number; No merchant account is required; Auto-bill for FreshBook recurring invoices; Moreover, auto-bills are free; All transactions are logged as expenses.

Cons: Hmm….None?

Automatic (recurring) Payments

Whether you use paid membership to give customers access to your content, automatic payments are a must have for you. Otherwise users will have to manually renew payment each month which is a perfect way to lose them. Fortunately, all described systems support recurring billing.

The agony of choosing

You may have noticed that we didn’t give you clear understanding which gateway is better. Why? The choice is yours. Consider pros and cons, choose and roll with it.

We have narrowed your choice to five best systems - the rest is on you.We have narrowed your choice to five best systems - the rest is on you.

Need help?

Reach new business objectives with the dedicated team of professionals.

Get in touch Get in touch
Rate this article:
1/5 - (1 vote)

Contact Us

Please enter your name
Please enter valid email address
Please enter not more 500 chars

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Thank you for your application!

We will contact you within one business day.