Payment Processing
Payment processing is how you actually get paid. Modern POS systems accept credit cards, debit cards, mobile wallets, and more—each with different fees and features.
Why It Matters
- •Accept the payment methods customers prefer
- •Processing fees directly impact profit margins
- •Faster checkout improves customer experience
- •Secure processing protects against fraud
- •Next-day deposits improve cash flow
Key Capabilities
Credit & Debit Cards
Accept Visa, Mastercard, Amex, and Discover
Contactless/NFC
Tap-to-pay with cards and mobile wallets
Mobile Wallets
Apple Pay, Google Pay, Samsung Pay
Chip (EMV)
Secure chip card reading for fraud protection
Offline Mode
Process payments when internet is down
Split Payments
Accept multiple payment methods on one transaction
Provider Comparison
Built-in processing at 2.6% + $0.10. Simple, transparent pricing. Accepts all major methods including Afterpay.
Limitations: Can't use third-party processors
Restaurant-optimized with 2.49% + $0.15 standard. Good offline mode for food trucks.
Limitations: Must use Toast processing
Flexible—can use Fiserv or third-party processors. Rates vary by provider.
Limitations: Rates depend on your merchant account
Shopify Payments at 2.4-2.7% depending on plan. Third-party processors available with fee.
Limitations: Extra fee for non-Shopify Payments
Lightspeed Payments integrated. Can also use third-party processors.
Limitations: Best rates require higher-tier plans
Common Questions
What's a good processing rate?
For most small businesses, 2.5-2.7% + $0.10-0.15 per transaction is standard. High-volume businesses can negotiate lower rates. Anything over 3% is high.
Should I use integrated or third-party processing?
Integrated is simpler and usually fine for small businesses. Third-party might save money at high volumes but adds complexity. Calculate total costs before switching.
Best For
- ✓All businesses
- ✓High-volume retailers
- ✓Restaurants
- ✓Mobile businesses