PayJunction: Good Credit Card Processing Option?

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PayJunction: Good Credit Card Processing Option?

Good solution, especially for businesses that want to go paperless

Good for

  • Mid to large sized businesses
  • Companies that want to start digitally capturing and storing customer signatures

Bad for

  • New businesses
  • Businesses that already have high transaction costs and want them lowered

Editor's Rating


We recommend PayJunction for established businesses that are happy with their current processing costs, but want better reporting and management solutions, or more advanced card readers that can handle things like NFC and electronic signature capture. If you’re just starting out and are only interested in minimizing costs, you should look at other options, like Square.

Review: Is PayJunction A Good Credit Card Processor?

PayJunction is a good processor for mid-to-large sized businesses because of its rate-matching feature. When you switch to PayJunction, they will charge you whatever your current processor is charging. This, of course, is only a plus if you're happy with your current rates, and simply want to look for better reporting, the ability to process ACH payments, or any of the other benefits and features that come with PayJunction.

Good For…Bad For…

Mid to large sized businesses

New businesses
Companies that want to start digitally capturing and storing customer signaturesBusinesses that already have high transaction costs and want them lowered

Small businesses may find PayJunction to be expensive. They use interchange-plus pricing with a very high markup of 0.75%. For comparison, Helcim – another processor that uses interchange plus – charges just a 0.18% markup on top of interchange. This will be a non-issue for larger businesses that can negotiate a better rate, or take advantage of PayJunction’s rate-matching plan. Other than that, however, the fact that this processor doesn’t charge any monthly or setup fees makes it relatively inexpensive in the grand scheme of things.

An image depicting one of PayJunction's Smart Terminals.
Pictured: PayJunction's Smart Terminal. Image Source:

PayJunction often receives accolades for their Smart Terminals that aim to make your business more paperless. The terminals are designed to electronically capture customer signatures – much like what you get with Square. This streamlines record keeping, and will make things easier should a charge be disputed. On top of the electronic signatures, PayJunction also comes with a nice interface that allows you to manage your employee accounts as well as generate reports for multiple store locations, should you need it.

Bottom Line: PayJunction is a solid credit card processor for established businesses looking for better card readers or a better online interface. If all you’re more concerned about finding the cheapest credit card processing, you should look elsewhere – Square or PayPal may be better options.

PayJunction Fees, Features & Benefits

PayJunction uses interchange-plus pricing, with a 0.75% markup. Additionally, if your business currently accepts credit card payments that are lower than this, PayJunction offers to match those rates if you make the switch.

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PayJunction Credit Card Processing

Transaction CostsInterchange + 0.75% OR PayJunction can match your current rates
Select Fees
  • Monthly: $35 for businesses processing over $10,000 per month. Otherwise $0
  • PCI-Compliance: $0
Online Implementation OptionsHook up to eCommerce platform or API. Free hosted shopping cart
ContractMonth-to-month. No cancellation fees.
Funds Deposit RateNext Day

The feature PayJunction emphasizes most is their paperless record keeping. Upon signing up, you will be provided with a free "Smart Terminal". You can buy more yourself should the need arise. The terminals can capture customer signatures electronically so that you never have to keep paper receipts. It can also handle NFC payments, so you can accept cards using mobile wallets or even the Apple Watch.

PayJunction can also process automated clearinghouse checks – a payment method that is growing in popularity especially among business-to-business (B2B) payments.

On the reporting and management side of things, PayJunction doesn’t pull any punches. It offers a robust online interface, with the ability to generate reports and manage employee accounts. These are standard features you should expect out of most merchant account providers, and it’s nice that PayJunction doesn’t skip on these features despite not charging any monthly fees.

An image depicting PayJunction's online dashboard.
Pictured: PayJunction online reporting dashboard.

Unlike some credit card processors, PayJunction doesn’t upcharge businesses for the ability to set up and manage their payments at multiple locations. You can generate reports and get a performance overview of any of your retail locations – all from within the same dashboard.

Developers who wish to build their own site and have PayJunction serve as the payment processor can use their free Smart Terminal API. There are no accounts online of how easy the API is to work with, however PayJunction does publish detailed documentation and guides on how to use it on their website. There’s even a development sandbox available, with test login credentials that allow you to quickly play around with the API and see how it works for yourself. You can read all about PayJunction’s API here.

How Much Can PayJunction Credit Card Processing Cost Your Business & How Does It Compare?

We wanted to provide business owners with a better idea of what the actual costs of accepting PayJunction are. We modeled the cost across a few different monthly transaction volumes to provide you with that estimate. For the purposes of our calculation, we assumed an average transaction size of $75, and an interchange rate of 2.2% + $0.22 – this accounts for standard card assessment fees as well that would be added on top of the interchange fees.

Transaction Volume (Monthly)

Estimated Monthly Cost

How Does PayJunction Compare to Other Credit Card Processors?

Whenever you shop around for anything, it’s always best to compare several options. We took a look at how PayJunction stacks up against some other leading payment processors.

PayJunction vs Square

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The main point of differentiation between Square and PayJunction is in how the two are priced. Unlike PayJunction, Square uses a flat pricing structure that can be better for businesses that are just starting out, and especially those with lower average per-sale amounts. Square will be generally more expensive when it comes to processing debit card payments, since those tend to have way lower interchange fees than credit card payments. In such a scenario, the cost of processing through PayJunction goes down, while Square's would remain a high 2.75%. However, if your customers mainly use credit cards, this will be a non-issue.

In terms of terminals and in-store solutions, Square keeps up with PayJunction and can maybe even outperform it. After all, Square’s card readers and POS systems are the company’s bread and butter and what got them a lot of attention in recent years. The company offers a multitude of solutions, from large stands to small mobile readers. These can be standalone or be hooked up to iOS and Android devices. Just like PayJunction, Square allows you to digitally store customer signatures.

Square Highlights

  • 2.75% per in person transaction; 2.9% + $0.30 per online transaction
  • No monthly fees or minimums
  • Can’t process ACH payments
  • Read our full review

PayJunction vs

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In return for these higher costs, customers are afforded greater security. The company focuses on providing chargeback protection and comes with fraud detection services. These promise to detect and stop fraudulent purchases before they happen. If you’re in an industry that faces a lot of fraudulent transactions or chargebacks, like travel or online gambling, this can end up saving you a lot in excess charges. In extreme cases, this sort of service can also prevent your merchant account from being shut down due to excessive chargebacks. Highlights

  • 2.9% + $0.30 per transaction
  • $25 monthly fee; $49 setup fee
  • No offline payment processing
  • Read our full review

PayJunction vs PayPal

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PayPal is one of the best online credit card processors, though its offline retail capabilities aren’t quite on par with PayJunction. The free card reader PayPal provides new customers is only compatible with magnetic stripe cards. It doesn’t accept chips. This unacceptable in 2017, and business owners should be striving to only use chip readers to minimize the risk of fraud. With PayPal the better chip readers will cost you $79 or more. Even then, the cheapest paid options don’t capture signatures electronically.

Overall, PayPal is better suited for small businesses that want to get their processing up as quickly as possible. However, for anyone that wants a more robust solution, including the ability to easily connect to an API and build their own website, PayJunction will the more affordable choice. If you want to use PayPal’s API, you need to sign up for PayPal Payments Pro, which comes with a $30 monthly fee right out of the gate.

PayPal Highlights

  • 2.7% per in person transaction; 2.9% + $0.30 per online transaction
  • Custom API access costs $30 per month through PayPal Payments Pro
  • Options for easy/non-developer implementation
  • PayPal Here Review