Compare the top 5 payment processing software and service providers in the US (2025)

Key takeaways

• Choosing the right payment processing software can help your business save on fees, reduce administrative tasks, and accept a wider range of payment types.

• The best platforms offer flexible integration, global reach, and transparent pricing, designed to support scaling businesses across various industries, including eCommerce, SaaS, and travel.

• Airwallex offers a unified platform for accepting payments, holding, and converting funds in multi-currency wallets, managing foreign exchange (FX), and automating global payouts, with local rails and embedded financial infrastructure to support true global scale.

Managing payments shouldn’t be complicated. But for many US businesses and digital platforms, it is. You might be juggling multiple providers, paying hidden fees on international transactions, or waiting days for funds to settle. And as your business scales, your processing needs become more complex, especially when you’re managing multiple currencies, payment methods, or sales channels. The cracks in your payment stack grow with it.

Payment processing software can help. However, not all systems are designed for a global scale, and an incorrect setup can result in significant time and financial losses. That’s why we’ve compared the US’s top five payment processing companies and services.

In this guide, you’ll find out which providers offer real value, what to watch out for in the fine print, and how Airwallex helps reduce costs while giving you complete control over global revenue. Whether you’re just starting or scaling fast, we’ll help you choose the right solution for your business.

What is a payment processing software or service?

Payment processing software and services allow businesses to accept and process customer payments. 

Payment processing services should enable businesses to accept a wide range of payment methods, including credit cards, debit cards, electronic checks, mobile payments, and more.

Digital payments are becoming the default globally. In 2025, the total transaction value in the digital payments market is projected to reach $20.09 trillion. That figure is expected to nearly double by 2030, reaching $38.07 trillion, as global commerce continues to become increasingly cashless.¹ That’s why more US companies invest in cross-border payment services solutions that simplify collecting, converting, and managing funds across multiple markets.

Top payment processing software in 2025

As customer payment preferences evolve, choosing the right payment provider matters. Below are five of the most well-known platforms in the US today. Each offers something different, depending on your business model and growth plans.

• Airwallex: a global payments and financial platform built for modern businesses. Airwallex lets you accept payments from 180+ countries, offer 160+ local payment methods, and settle like-for-like in 14 major currencies. You can manage global revenue, convert currencies at interbank rates, issue cards, automate payouts, and plug into your stack with no-code or API options, all from one platform.

• Stripe: a US-based provider known for its developer-first tools and customizability. Stripe supports payments in over 195 countries and 135 currencies, with a focus on subscription billing and online checkouts. 

• PayPal: One of the most widely recognized names in online payments. PayPal supports 200+ markets and allows customers to pay using balances, cards, or bank accounts. It’s easy to start and works well for many small and mid-sized businesses. However, larger merchants often combine it with PayPal Enterprise Payments (formerly Braintree), which offers a broader range of payment methods, mobile wallet integrations, and customizable APIs.

• Square: A platform built for small businesses operating online and in-store. Square offers POS tools, online checkout, invoicing, and support for Apple Pay, Google Pay, Afterpay, and Cash App Pay. It’s simple to use and ideal for domestic operations, but it lacks support for multi-currency settlement or global treasury functions.

• Adyen: A global payments provider used by many large enterprises. Adyen supports over 100 local payment methods and offers unified commerce across online, mobile, and in-person channels. It’s built for scale and control, but generally best suited to businesses with complex global requirements and in-house development resources.

Top features to look for in payment processing software

Choosing the right payment processing software can be a business-critical decision. The best providers are easy to use, secure, and flexible. Here are the top features to look out for:

• Ease of use: Look for a platform that's easy to navigate for you and your customers. The best providers centralize all the information you need into one simplified dashboard.

• Range of payment methods: Even if you're not an online retailer, the provider you choose should support global cards, digital wallets like Apple Pay or Alipay, bank transfers, and buy now, pay later options – so your customers can pay however they prefer. 

• Integration capabilities: Your provider should integrate easily (no code required) with other business systems, such as your accounting software or eCommerce platform.

• Security: Secure payment acceptance will help protect funds and data. To protect your business, your provider should be PCI-compliant and offer authentication tools like 3D Secure (3DS), along with separate fraud detection systems.

• Cost: Fee structure and length of contract differ between providers, so read the fine print. Also, remember to account for hidden fees when collecting money in multiple currencies, as these can impact profit margins from international revenue.

• Customer management: Some solutions can help you understand, engage, and retain your customers. Look for tools with information storage, personalized communication options, and advanced reporting capabilities.

• Value-added services: Leading platforms offer additional services, such as card issuing, expense management, and global accounts. These can help you consolidate your financial operations and scale faster across borders.

Comparing the top payment processing companies in 2025

Each of these payment processing providers caters to a distinct type of business. Below, we’ve broken down what sets them apart and where the trade-offs come in.

Airwallex

For growing digital businesses seeking global expansion, Airwallex offers a comprehensive payment infrastructure that enhances conversion rates, reduces costs, and optimizes cash flow. It does this through extensive local payment method (LPM) coverage, unique like-for-like settlement capabilities, and integrated financial operations, all through a single platform. Airwallex combines payment acceptance, multi-currency wallets, FX, payouts, and card issuing into one unified platform.

Pros:

• Like-for-like settlement in 14 currencies with no FX fees, helping reduce the total cost of payments and improve treasury control*

• 160+ local payment methods supported across 180+ countries, with automatic currency conversion in 25+ currencies 

• Boost conversion rates by offering region-specific methods like iDEAL, Klarna, and GrabPay

• All-in-one platform to accept, hold, convert, and move funds – no need for multiple providers

Cons:

• Ecosystem of third-party integrations is still growing

• Some initial setup may be needed to replace legacy tools, but once consolidated, the long-term gains in control and cost savings are significant

Stripe

While Stripe offers powerful tools for technical teams, it may require additional setup and developer resources to support complex international payment flows, particularly in emerging markets.

Pros:

• Powerful APIs and flexible developer tooling

• Widely adopted in North America and Europe

Cons:

• Limited APAC LPM support

• FX and international card fees can quickly add up¹⁶

• Support and onboarding resources may not meet the needs of businesses with complex international operations

PayPal

PayPal is a familiar checkout option for consumers and offers fast setup for merchants. That simplicity makes it appealing for smaller businesses, but it lacks flexibility and can be expensive for international sales.

Pros:

• Recognized and trusted by consumers worldwide

• Easy to integrate and use without a developer

• Offers PayPal Credit and BNPL tools in some markets

Cons:

• High cross-border and conversion fees (~3–4% FX spread)¹⁷

• Fewer local payment methods unless opting for PayPal Enterprise Payments¹⁸

• Checkout experience can’t be fully customized¹⁹

• Funds are restricted within PayPal’s closed ecosystem – they can’t be programmatically moved to external bank accounts, linked to local account details, or used for outbound payments or treasury operations via API

Square

Square is best suited for small businesses that sell both in-person and online. It offers bundled tools for POS, eCommerce, and business operations, but lacks support for international payments and multi-currency management.

Pros:

• Easy to use and quick to set up

• Full suite of business tools for inventory, staff, and POS

• Transparent domestic pricing

Cons:

• No support for charging customers in different currencies²⁰

• Limited to select countries for full functionality²¹

• Best suited for small businesses, not global platforms²²

Adyen

Adyen is built for enterprise-level businesses with complex payment needs. It supports omnichannel setups and offers its own acquiring network in the EU, UK, and US, but typically requires technical resources to manage.

Pros:

• Full POS suite

• End-to-end payment optimization capabilities

• Direct acquirer in key markets (EU, UK, and US) 

Cons:

• Requires in-house development or implementation support

• Interchange++ pricing offers transparency, but can be complex to forecast without a payments team

• Not ideal for small or early-stage companies²³

• Strong LPM coverage in the EU, but limited coverage across APAC markets

*1% foreign currency settlement fee may apply in some cases

How can you reduce payment processing fees? 

Reducing payment processing fees is crucial for businesses seeking to preserve their operating profit.

The good news is that there are several ways to reduce your processing fees, including selecting the right pricing model, avoiding hidden international fees, and utilizing ACH direct debit for automated payments.

Even small reductions in fees can result in significant savings when processing a high volume of transactions. Here are some ways you can keep costs down:

• Understand your needs: Assess the volume and type of transactions in your business processes. Providers offer several pricing models, including fixed-rate, interchange-plus, and subscription-based models. For smaller transactions, a fixed-rate provider might be more cost-effective, while for larger international volumes, a provider with interchange-plus pricing could offer savings.

• Minimize international fees: If you're operating internationally, look for providers like Airwallex that offer low or no foreign transaction fees and competitive currency conversion rates. Avoiding unnecessary conversion fees can result in substantial savings.

• Be wary of long-term contracts: Some providers lock you into long-term contracts that may not always be favorable as your business evolves. Opting for providers that don't require long-term commitments ensures you can adapt your payment processing solutions as your needs change. This approach also means you pay only for the transactions you process.

• Use payment gateways wisely: If you aren’t using an end-to-end payment processor, try integrating your payment processing with payment gateways that offer lower fees for certain types of transactions. Some gateways have special arrangements or lower fees for transactions processed through specific channels.

• Get clear on chargebacks: Chargebacks can be tricky to manage because customers can initiate them whenever they feel they are entitled to a refund. They not only result in lost revenue but also incur additional fees. Find a partner with a good chargeback facilitation process, and implement clear communication with customers, transparent refund policies, and robust fraud detection measures to minimize the risk of chargebacks.

• Review your payment processing costs regularly. Payment processing fees are subject to change, and new offers or providers may emerge. Review your options regularly and stay informed about industry rates to ensure you always get the best deal.

What questions should you ask when onboarding a payment processing company?

You must understand the payment processing system you’re considering, as well as whether it aligns with your business’s operational needs, budget, and growth plans.

Asking the right questions will help you build a clear picture of what to expect. Here are 10 common questions that should provide the information to help you make an informed decision:

• What are your transaction fees? Ask your potential new provider about all possible fees, including transaction fees, monthly fees, setup fees, conversion fees, and any hidden charges. Knowing exactly what you’ll pay for each transaction and any additional costs can help you budget more effectively. For example, businesses often ask us to forecast costs at Airwallex.

• Are there any long-term contracts or early termination fees? Some providers may require you to commit to a long-term contract, including early termination fees if you decide to switch providers.

• What types of payments can you process? Ensure the provider can process all the payment types your business requires, including international payments. This is particularly important if you operate globally or plan to expand.

• How long does it take for funds to be settled? The settlement period can impact your cash flow, so ask how long it typically takes for transaction funds to be deposited into your account.

• What security measures and compliance standards do you have in place? Every time you take a credit card payment, you handle sensitive financial information. Ask about the provider’s security policies, protocols, fraud prevention measures, authorization rates, and compliance with standards to protect your customers' data. After all, a poor payment experience may damage your brand's reputation.

• Is your system compatible with our current business software? Seamless integrations with your existing business software, such as your eCommerce platform, accounting software, or CRM system, are essential for efficient payment and streamlined operations.

• What level of customer support do you offer? Good customer support can make all the difference when dealing with payment issues. Ask what type of support is available (bots or agents, email or phone), when support is available, and what the response times are.

• Can you handle multi-currency transactions? If you accept payments from customers in different countries, you’ll need to know if the provider supports multi-currency transactions and the fees for currency conversion. Many providers charge unnecessary fees, whether foreign transaction fees on cards, forced conversion fees, or high FX rates.

• What's your policy on chargebacks? Understanding the provider’s process for dealing with chargebacks and whether they offer any support or protection can save you money in the future.

• Do you offer any value-added services? Some providers offer additional services like analytics, reporting tools, or marketing insights. Knowing what’s available can help you get the most out of your payment processing solution.

Why choose Airwallex as a payment processing software

Global growth brings complexity. Airwallex helps you manage it with a single platform built to handle payments, foreign exchange, and financial operations across borders.

Instead of stitching together gateways, FX providers, and payout tools, Airwallex provides everything in one platform, helping you reduce conversion loss, lower the total cost of payments, and easily expand into new markets.

As one CFO put it, “Airwallex is in 2033. The competitors are in 2003.” That says it all.

FAQs

What is payment processing software?

It’s a tool that helps your business accept online payments securely. These systems handle the flow of payment data between your customer, their bank, and your business account, usually through a cloud-based platform.

What should I consider when selecting a payment processing provider?

Start with your business model and growth plans. Look for flexible integration options, multi-currency support, transparent pricing, and a wide range of accepted payment methods. If you operate internationally, ensure the provider can support local payments and reduce FX fees.

What is the cost to get started?

Costs vary depending on the provider and how your business operates. Some offer subscription plans, while others charge per transaction. Always check for hidden fees, especially international payments, chargebacks, and currency conversion.

Are payment processing systems safe?

Yes, if you choose a reputable provider. Look for PCI-compliant systems and offer encryption, tokenization, and fraud prevention tools to protect your business and customer data.

What is the best payment processing system for US companies?

That depends on your size, structure, and whether you operate on a global scale. Airwallex offers one of the most complete solutions for US businesses looking to scale internationally. It lets you accept payments in over 130 currencies, settle like-for-like, manage FX, and access embedded financial tools, all from a single platform.

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