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Digital payment acceptance can help a small business reach customers online and in person, make checkout easier, and connect transactions to bookkeeping tools. Those capabilities can support growth, but payments alone do not guarantee higher sales. The right setup depends on what customers use, how and where the business sells, the full cost, when funds arrive, and the work required to manage security and records.
How can digital payments help a business grow?
Payments are part of the buying and operating experience, not a growth strategy by themselves. Their value comes from removing specific obstacles: a customer cannot use a preferred method, checkout is cumbersome, sales channels are disconnected, or staff spend too much time matching transactions to invoices.
- Reach more customers and channels. A business may accept payments online, in person, or through bank transfers and wallets, depending on its provider and market. Broader acceptance can help serve customers where they prefer to buy.
- Reduce checkout friction. A short checkout, guest checkout where appropriate, and payment methods that customers actually want can make it easier to complete a purchase. Visa recommends testing checkout on mobile and desktop and monitoring whether the business accepts the methods customers request.
- Connect payment records to operations. Some services integrate with invoicing, inventory, or financial reporting tools. This can reduce manual entry and help with reconciliation, but the business should verify that the specific features and integrations work with its existing systems.
- Improve visibility into incoming funds. Transaction records and payout reporting can help operators monitor sales and cash availability. The amount and timing of a payout still depend on the payment arrangement, settlement schedule, and any holds or refunds.
Survey results indicate that some businesses perceive these benefits, but they are not proof that adopting payments causes growth. In a spring 2026 U.S. Bank survey of 1,000 U.S. business owners whose firms had annual revenue of $25 million or less and two to 99 employees, 60% reported using payment-processing solutions; 53% reported using contactless payments, digital wallets, or peer-to-peer solutions. U.S. Bank stated a margin of error of ±3.1%. The survey describes that sample, not all U.S. businesses. U.S. Bank’s 2026 Small Business Survey
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One free scan finds every outdated or missing driver and matches the right update for your exact hardware.Free scan · exact hardware matchIn a separate online survey fielded March 3 to April 14, 2025, 85% of 2,100 SMEs across 14 Latin American and Caribbean countries that accepted digital payments said those payments helped increase sales, scale operations, and enhance security. That is a reported perception among surveyed adopters, not a measured causal effect or a forecast for an individual business. Mastercard’s 2025 regional survey
#1 Best Overall
- With Square Terminal, you can ring up sales, accept payments, and print receipts, all with one device. Use it at the counter or ring up customers anywhere in your store.
- Accept all major credit and debit cards and pay one low rate with no hidden fees and no long-term contracts.
- Process chip cards in just two seconds.
- Get your money as soon as the next business day.
- Use it cordlessly with the built-in battery, designed to last all day.
Which payment methods should a small business accept?
Start with the customer’s purchase context and the business’s costs and operations. No single method suits every sale, and availability varies by provider and location. Visa’s online-payment guide describes the following options:
| Method | Potential fit | What to check |
|---|---|---|
| Cards | Broadly used for online and in-person purchases. | Processing and other fees, supported card types, chargeback handling, and payout timing. |
| ACH bank transfers | May suit B2B or higher-ticket transactions where a lower-cost method is useful. | Whether the provider supports it, how long funds take to clear, and how returns or failed transfers are handled. |
| Digital wallets | Can make mobile checkout more convenient for customers who use them. | Which wallets are supported, device and checkout compatibility, and the provider’s fees. |
| Buy now, pay later | Lets customers pay over time and may suit some purchase types. | Merchant economics, eligibility, customer terms, and how the service affects refunds and reconciliation. |
For in-person sales, compare a conventional terminal or reader with provider-supported Tap to Phone. Visa describes Tap to Phone as using an NFC smartphone as a contactless point of sale. It is not enough for a phone simply to have NFC: confirm the provider, country, operating-system, and device-model requirements before relying on it or buying hardware. Visa reported that Tap to Phone grew 200% year over year worldwide in 2025, with nearly 30% of Tap sellers being new small businesses; this is category growth reported by Visa, not a result an individual merchant should expect. Visa’s 2026 SMB report
Rank #2
- With Square Handheld, you can accept payments, take tableside orders, or scan barcodes anywhere. With a slim design and comfortable grip, the POS is easy to carry in your palm or pocket. Square Handheld is designed to withstand water splashes and dust. Add an optional protective case for accidental drops. A long-lasting battery and offline payments let you keep selling.
- Slim, pocketable, and lightweight so you can accept payments wherever your customers are.
- Take tableside orders, bust lines, or use the built-in barcode scanner, all with one sleek device.
- A battery that can power through your shift and offline payments let you keep selling, even if your internet is down.
- Accept all major credit and debit cards and pay one simple rate with no hidden fees and no long-term contracts required.
Payment rails and merchant payouts are not the same thing. An instant interbank payment capability does not mean a card processor will deposit a merchant’s funds instantly. A 2024 Federal Reserve Financial Services survey summary reported that 92% of surveyed businesses identified B2B payments as a use case that could benefit from instant payments; 71% identified business-to-person payments and 40% account-to-account payments. The summary says the publisher conducted the survey and markets payment services, and explicitly notes it is not independent academic research. Federal Reserve Financial Services’ survey summary
How do you compare payment processors?
Compare providers against the business’s actual transactions and workflows, not just a headline processing rate. Ask for the complete current fee schedule and verify the terms for the country, channels, and business model involved.
Rank #3
- Use the, easy-to-use, and customizable POS to get started.
- Accept contactless payments, chip cards, Apple Pay, and Google Pay from anywhere, with improved connectivity, extended battery life, and enhanced security. Pay one low rate for every tap or dip.
- No long-term commitments or contracts, no monthly fees- and with offline payments, keep taking payments for up to 24 hours.
- Safely and securely accepts payments anywhere. Plus, get data security, 24/7 fraud prevention, and payment-dispute management at no extra cost.
- Use the, easy-to-use, and customizable POS to get started.
| Decision area | Questions to ask |
|---|---|
| Customer fit | Which methods do customers request? Does the provider support the business’s online, in-person, or invoice-based sales and relevant currencies? |
| Total cost | What processing, monthly, hardware, chargeback, cross-border, and other applicable fees apply? Are there minimums or separate costs for particular payment methods? |
| Cash availability | What is the normal settlement schedule? When can holds, refunds, weekends, or disputes delay access to funds? |
| Operations | Does the service integrate with the business’s invoicing, accounting, inventory, payroll, or reconciliation tools? Can transaction records be exported if the business changes providers? |
| Security and compliance | What fraud controls, authentication, encryption or tokenization features are provided? Which security and validation tasks remain with the merchant? |
| Support and fit | Does the provider serve the business’s location, sales channels, transaction sizes, and volume? What support is available when a payment is disputed or a payout is delayed? |
Trust and security deserve explicit attention. In Mastercard’s 2025 survey of SMEs accepting digital payments across 14 Latin American and Caribbean countries, 88% ranked trust as a top priority when choosing a provider, and 87% prioritized security features and support for multiple payment types. These figures reflect the survey’s regional respondents, not a universal ranking. Mastercard’s 2025 regional survey
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What should a business verify before switching on payments?
- Map the payment journey. Write down how the customer pays, how the transaction is authorized, when the provider settles funds, and how the payment is matched to an invoice or accounting record. Identify where staff currently re-enter information or resolve mismatches.
- Confirm the setup and eligibility. Ask whether the provider requires a merchant account or another arrangement to receive funds, and verify support for the business’s location, transaction types, currencies, and sales channels.
- Test the real checkout. Follow Visa’s guidance to avoid unnecessarily long checkout, offer guest checkout where appropriate, and test payment methods and mobile and desktop flows. Check accessibility and the handling of declined payments, cancellations, refunds, and failed transfers.
- Validate integrations with real records. Confirm which invoicing, inventory, and reporting features are included, whether existing software is supported, and whether fees, refunds, and payouts reconcile correctly. A generic claim of “integration” does not establish that a workflow is covered.
- Check settlement and exceptions. Get the ordinary payout schedule in writing and ask how holds, disputes, weekends, and refunds affect access to money. Build the timing into cash-flow planning rather than assuming the customer’s payment is immediately spendable.
- Assign security responsibilities. Find out which controls the provider operates and which remain the business’s responsibility. For card acceptance, Visa’s guide says PCI DSS compliance applies regardless of business size or volume, although the validation process can differ. Confirm the business’s current scope and validation path with its acquirer and, where needed, a qualified adviser or the PCI Security Standards Council. Visa’s guide also discusses address verification, CVV, and TLS; these controls do not replace checking the applicable PCI requirements.
Digital tools are a priority for many surveyed businesses, but adoption and need are not identical. Mastercard’s 2026 Dreamonomics survey summarized responses from more than 6,000 SMEs in 18 countries commissioned by Mastercard: 89% wanted to adopt more digital tools and 78% said integrated tools were critical. In the same survey, 71% prioritized protection from cyber threats, while 37% said they used cybersecurity tools. These are reported priorities and adoption, not evidence that a payment service alone provides adequate protection. Mastercard’s 2026 Dreamonomics report
Quick Recap
Best Value
- Accept all major credit and debit cards and pay one low rate
- No hidden fees and no long-term contracts
- Mobile card reader that accepts payments anywhere & anytime
- Use the free SumUp App on your smartphone or tablet to start accepting transactions
- Simply pay 2.6% +10 per in-person transaction
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- Our team provides expert guidance, onboarding assistance, and payment processing consultation to help businesses deploy Square solutions effectively.
- Complete Business Payment Solution - Accept EMV chip cards, contactless payments, NFC wallets, and traditional credit and debit card transactions. Square Terminal combines payment acceptance, receipt printing, and business management tools in a compact all-in-one device.
- Expert POS Deployment Support - Unlike standard online purchases, SwyftPAY provides hands-on onboarding assistance from payment industry professionals with over 50 years of experience serving retail, restaurant, mobile, and service-based businesses.
- Designed for Growing Businesses - Ideal for retail stores, restaurants, food trucks, service contractors, salons, medical offices, professional services firms, and other businesses seeking a modern payment acceptance solution.
- Equipment ships after signup with Square, through SwyftPAY
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
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