You keep your POS and only change or renegotiate the processing: processors that work with restaurant POS systems, without requiring their own.
Weigh more here than in the overall ranking: works with restaurant POS systems and works without the vendor's own POS.
The ranking
Dharma Merchant Services
By Dharma Merchant Services
Dharma's interchange-plus pricing for restaurants: interchange + 0.15% + 8¢ in person and + 0.20% + 11¢ online, with a $20 monthly fee; 0.10% and $15 above $100,000 a month or with an average ticket of $25 or less. No PCI, batch or annual fee, no early termination fee and $49 to close the account, plus an optional credit card surcharge for $25 a month.
RTC SCORE
7.6
#1 for If you already have a POS
Pros
- Published markup for restaurants: interchange + 0.15% + 8¢ in person, and 0.10% for high volume or tickets of $25 or less.
- A public table of every fee, with no PCI, batch, annual, AVS or monthly minimum fees.
- No early termination fee; leaving costs $49.
Cons
- A $20 monthly fee, and Dharma says it doesn't make sense below a few thousand dollars a month.
- The credit card surcharge costs $25 a month extra (or 0.12% on Clover), and debit stays at the normal rate.
- Both bank program guides it publishes state a 3-year initial term and let the bank set a reserve at its discretion and adjust your rates without notice if your volume or ticket change.
- Initial term
- 36 months
Strongest on 12-month cost of the reference restaurant, what leaving in month 12 costs, and standard deposit speed. Weakest on 24/7 support.
U.S. Bank Payment Solutions (Elavon)
By U.S. Bank
U.S. Bank's merchant services, processed by its subsidiary Elavon: 2.60% + 12¢ in person, 3.30% + 30¢ online and 3.50% + 15¢ keyed in for accounts opened online, POS plans from $0 a month and deposits within hours into a U.S. Bank checking account. Restaurant POS plans are set up with a specialist, and for those accounts U.S. Bank says rates may vary and other fees may apply. Elavon publishes $0 early termination fees, though its terms set a 3-year term.
RTC SCORE
6.9
#2 for If you already have a POS
Pros
- Deposits within hours, seven days a week, at no extra cost with a U.S. Bank business checking account.
- Elavon publishes $0 annual, batch, additional authorization and early termination fees.
- 24/7 phone support.
Cons
- Its Terms of Service set a 3-year term that renews for 2 years unless you give notice 30 days before it ends, even though U.S. Bank's POS page says its plans carry no long-term commitment.
- The published rates and fees are for accounts opened online; the POS plans for restaurants are set up with a specialist, and U.S. Bank says their rates may vary and other fees may apply.
- Fee changes take effect upon notice, and card network increases can be passed on.
- Initial term
- 36 months
Strongest on 12-month cost of the reference restaurant, standard deposit speed, and what leaving in month 12 costs.
North (Payanywhere)
By North
North's flat-rate processing through Payanywhere: 2.69% in person and 3.49% + 19¢ keyed in or online through its invoices and links, with plans from $0 a month, next-day deposits (same day at no cost for early batches) and a dual pricing program. Once you pass $100,000 in 12 months on any one card network you move automatically to a 3-year agreement, at fees set at that time, whose early termination fee is the fees left in the term, at least $295.
RTC SCORE
6.6
#3 for If you already have a POS
Pros
- Next-day deposits by default and same-day at no cost for batches closed by 10:30 a.m. ET, and technical support around the clock.
- A published in-person rate of 2.69% with no per-transaction fee, and no PCI fees under PCI Plus.
- Works with other POS systems, and offers a dual pricing program.
Cons
- Above $100,000 in 12 months on any one card network you move automatically to a 3-year agreement, at fees set at that time, whose early termination fee is the fees left in the term (at least $295), which North can estimate from your volume.
- A payment page on your own website is priced by quote, and the dual pricing program's fees aren't published.
- Its devices only process through North, and smart terminals add a monthly software fee per device.
- Initial term
- 36 months
Strongest on 12-month cost of the reference restaurant, standard deposit speed, and published pricing. Weakest on what leaving in month 12 costs.
Stax
By Stax
Stax's subscription pricing: interchange with no percentage markup plus 8¢ per in-person payment and 15¢ online or keyed, for a monthly plan set by your yearly volume (a starting price, by quote, above $250,000 a year). Month-to-month with 30 days' notice and no cancellation penalty, and the CardX credit card surcharge. Its PCI, annual and surcharge platform fees have no published amount.
RTC SCORE
6.0
#4 for If you already have a POS
Pros
- No percentage markup on interchange: 8¢ per in-person payment and 15¢ online, plus the monthly plan.
- No penalty for canceling (30 days' notice) and no batch fee.
- CardX credit card surcharge: your customers pay 3% on credit cards and Stax checks card type and state rules automatically.
Cons
- The monthly plan makes it expensive at low volume: $99 a month even under $150,000 a year in card sales.
- Stax doesn't publish the amounts of its PCI platform, annual, dispute and surcharge platform fees, so we can't compute its full cost.
- With the CardX surcharge, consumer debit cards cost you 1.25% + 25¢, more than interchange plus 8¢ on most debit cards, and CardX says debit pricing varies by processor platform (on some, commercial debit costs 2.91%, and keyed-in debit on the CardX terminal doesn't get the 1.25% rate); CardX doesn't serve Connecticut or Massachusetts.
- Initial term
- Month to month
Strongest on what leaving in month 12 costs, standard deposit speed, and published pricing. Weakest on 24/7 support.
Stripe
By Stripe
Stripe's flat-rate processing: 2.7% + 5¢ in person with Stripe Terminal, 2.9% + 30¢ online and 3.4% + 30¢ keyed in, with no monthly, PCI or closure fees, month to month. Deposits take two business days (instant payouts 1.5%). It has no restaurant POS of its own: restaurants use it through POS systems built on Stripe.
RTC SCORE
5.3
#5 for If you already have a POS
Pros
- Every standard fee is published, and there are no monthly, PCI, statement or closure fees.
- Month to month with no closure fee, and fee increases come with at least 30 days' notice.
- Phone, chat and email support around the clock.
Cons
- Standard deposits take two business days; getting money in minutes costs 1.5%.
- No dual pricing or surcharge program, and its readers only work with Stripe.
- Initial term
- Month to month
Strongest on what leaving in month 12 costs, published pricing, and 24/7 support. Weakest on 12-month cost of the reference restaurant.
Chase Payment Solutions
By JPMorgan Chase
Chase's merchant services. QuickAccept, which comes with Chase Business Complete Checking, charges 2.6% + 10¢ in person, 3.5% + 10¢ keyed in and 2.9% + 25¢ online, with no monthly fee and same-day deposits; standalone terminal accounts start at $9.95 a month and their contract terms aren't published.
RTC SCORE
5.0
#6 for If you already have a POS
Pros
- Publishes its rates and QuickAccept's full fee schedule: no monthly, PCI, statement or batch fees.
- Same-day deposits into your Chase business checking account at no extra cost.
- QuickAccept's terms have no minimum term or early termination fee, and fee changes come with 30 days' notice.
Cons
- QuickAccept only works with a Chase Business Complete Checking account ($15 a month unless waived, for example with $2,000 a month in QuickAccept deposits).
- The QuickAccept phone line is open weekdays only, not 24/7.
- The terms and other fees of standalone terminal accounts set up with an advisor aren't published.
- Initial term
- Month to month
Strongest on standard deposit speed, what leaving in month 12 costs, and published pricing. Weakest on 12-month cost of the reference restaurant.
Not enough verified data to rank
We only rank a processor once we've verified enough of its key facts. These are listed so you know we looked at them.
- Bank of America Merchant Services · Not enough data to score
- CardConnect · Not enough data to score
- Merchant One · Not enough data to score
- Payroc · Not enough data to score
- Paysafe · Not enough data to score
- Priority Commerce · Not enough data to score
- Worldpay · Not enough data to score
- Xplor Pay (formerly Clearent) · Not enough data to score
This is general information about published contracts, not legal advice: read your own contract and check with a lawyer before you sign.