The Lowest Online Payment Processing Rates for Small Businesses: Sphere vs QuickBooks vs Wave

Every payment you process as a small business owner comes with a cost. When you're accepting credit cards or ACH bank transfers for invoices, those transaction fees add up fast.

Most businesses don't realize how much they're actually paying in payment processing fees—if you're using QuickBooks or Wave to accept payments, you could be leaving thousands of dollars on the table every year. Learn why Sphere is the best quality and most reliable solution at saving you money.

Payment Processing Rates: Side-by-Side Comparison

Credit Card Payment Rates:

• Sphere: 2.9% + $0.30 per transaction

• QuickBooks: 2.99% per transaction

• Wave: 2.9% + $0.60 per transaction (3.4% + $0.60 for Amex)

ACH/Bank Transfer Rates:

• Sphere: 0.8%

• QuickBooks: 1%

• Wave: 1%

While credit card rates are competitive across all platforms (minus the 3.4% for Wave's Amex), ACH is where Sphere saves you money. QuickBooks and Wave charge 1%, while Sphere charges just 0.8%—so you pay 20% less on every ACH payment, no matter the size.

Real-World Savings: Sphere vs QuickBooks & Wave

Example 1: $1,000 ACH Payment

- QuickBooks/Wave: $10 fee (1%)

- Sphere: $8 fee (0.8%)

- You save: $2 per transaction

Example 2: $5,000 ACH Payment

- QuickBooks/Wave: $50 fee (1%)

- Sphere: $40 fee (0.8%)

- You save: $10 per transaction

Example 3: $10,000 ACH Payment

- QuickBooks/Wave: $100 fee (1%)

- Sphere: $80 fee (0.8%)

- You save: $20 per transaction

The bigger the payment, the bigger your savings — every ACH payment costs 20% less with Sphere than with QuickBooks or Wave. A small business processing $50,000 in ACH payments annually saves $100/year by switching from QuickBooks or Wave to Sphere, and $250,000 a year saves $500.

Want your exact numbers instead of these examples? Use our payment fee calculator to plug in your own invoice volume and see your real annual savings.

Ready to Save Money on Payment Processing?

If you're currently using QuickBooks or Wave for payment processing, switching to Sphere will save you money on every ACH payment, and the savings grow with your transaction volume. All payment processing is powered by Stripe, so you get enterprise-grade security, reliability, and quality you can trust.

Read here for more info: See the full comparison

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