Can I use multiple payment processors?

Yes. Many businesses offer Stripe for card payments and PayPal as an alternative. This maximises conversion without sacrificing margin.

Best Payment Processors for Small Business 2026 — Stripe, Square, PayPal & More

Quick Picks

🥇 Best overall: Stripe — cheapest for online, best developer tools
🥈 Best for retail/in-person: Square — free POS, simple hardware
🥉 Best for consumer trust: PayPal — highest buyer recognition
🏅 Best for international transfers: Wise — cheapest cross-border fees
🏅 Best for e-commerce: Shopify Payments (if on Shopify)

1. Stripe — Best Overall for Online Businesses

Stripe is the gold standard for online payment processing. Best-in-class API, 45+ country support, and the most competitive rates for US and Australian businesses. If you build anything online and aren't a complete beginner, Stripe should be your first choice.

Country	Stripe Rate	Best For
🇺🇸 USA	2.9% + $0.30	SaaS, freelancers, e-commerce
🇬🇧 UK	1.5% + £0.20	Any online business
🇦🇺 Australia	1.7% + A$0.30	Any online business
🇨🇦 Canada	2.9% + CA$0.30	SaaS, online stores
🇪🇺 Europe	1.5% + €0.25	Any online business

Pros: Cheapest rates in most markets, 45+ countries, best API, free invoicing, strong fraud protection. Cons: Requires technical setup, limited in-person support.

2. Square — Best for Physical Retail

Square dominates physical retail. Free POS software, affordable hardware, and identical online rates to Stripe make it the clear winner for brick-and-mortar businesses. The free inventory management alone is worth it for small retailers.

In-person: 2.6% + $0.10 (cheaper than Stripe Terminal's 2.7% + $0.05 for high-value sales)
Online: 2.9% + $0.30 (same as Stripe)
Free POS software, free inventory management, no chargeback fees
Downside: US, UK, Canada, Australia, Japan only — no global reach

3. PayPal — Best for Consumer Trust

PayPal's rates are higher (3.49% + $0.49 in the USA), but it's the most recognized payment brand globally. For consumer-facing businesses where checkout trust matters — especially international sales — PayPal's brand recognition can increase conversion enough to offset the higher fee.

Best when: consumer goods, marketplace listings, older demographics
Higher rates than Stripe in USA ($0.78 more per $100)
Keeps the $0.49 fixed fee on refunds — Stripe doesn't
Friends & Family is free — but not for business use

4. Wise Business — Best for International Transfers

Wise doesn't process card payments — but for sending money internationally or holding multi-currency balances, it's dramatically cheaper than Stripe or PayPal. International transfers at 0.4–2% vs Stripe's 1%+ FX markup.

Best when: paying overseas suppliers, contractors, or receiving large B2B wire transfers
Mid-market exchange rate — no FX markup
Not suitable for card-based online checkout
Use alongside Stripe: Stripe for card payments, Wise for international transfers

Full Comparison Table

Processor	Online (USA)	In-Person	Monthly Fee	Intl Cards	Best For
Stripe	2.9% + $0.30	2.7% + $0.05	$0	+1.5%	Online / SaaS / Global
Square	2.9% + $0.30	2.6% + $0.10	$0	Not supported	Retail / Food
PayPal	3.49% + $0.49	2.29% + $0.09	$0	+1.5%	Consumer / Marketplaces
Shopify Payments	2.4–2.9%	2.4–2.7%	$39–$399	Varies	Shopify stores only
Wise	❌ No card checkout	❌ No	$0	0.4–2%	Intl bank transfers

💡 Calculate your exact fees

Use our free calculators to compare exactly what Stripe and PayPal charge on your typical transaction amount.

Stripe Calculator → PayPal Calculator →

FAQ

Payment Processors — FAQs

Stripe is generally the cheapest for online card payments in the USA (2.9% + $0.30) and Australia (1.7% + $0.30). Square matches Stripe online but is cheaper in-person. For UK businesses, Stripe (1.5% + £0.20) is also highly competitive.

In the USA, Stripe is cheaper and has better tools. PayPal is worth offering as a secondary option for customers who prefer it. For international sales where PayPal's brand is highly trusted (especially in developing markets), PayPal can increase conversion rates that offset the higher fee.

Yes. Many businesses offer multiple options at checkout — Stripe for card payments, PayPal as an alternative wallet, and Wise for bank transfers. This maximises conversion without sacrificing margin on all transactions.