How to Change Your Payment Service Provider

Upgrading your payment systems can be a daunting task, but it can also improve sales, customer experience, and more. Learn how to do it in this article.

Businesses grow, change directions, and swap strategies over time. Your payment service provider (PSP) has to be able to accommodate it all. Plus, the world of payment services is always evolving, so there may be new features or a different pricing model that could fit your needs better than your current solution. 

Whatever the reason you need to switch providers, it can be an intimidating task. With so many providers and solutions to choose from, you might find yourself feeling overwhelmed. The good news? It doesn’t have to be so complex. Just use our step-by-step instructions below as you shop around, and you’ll find the right solution for your business in no time.


The Most Common Reasons to Switch Payment Service Providers 

Businesses like yours switch payment service providers every day, and for a variety of reasons. You may have issues with your current solution, or you could be simply curious about new options in an ever-growing market. There’s never a reason too big or small. 

Here are the most common reasons you might choose to make the switch:

  • The payment service provider can’t offer the payment methods your customers want to use.
  • The payment solution cannot adapt to suit your growing business needs.
  • You’re looking for more advanced security features.
  • Your current service provider doesn’t have PCI DSS compliance.
  • The fee structure is complex and difficult to understand.
  • You receive surprise charges or bills.
  • You need to cut costs so that you have funds for other business needs.
  • Your contract has ended and you want to explore other options.
  • The service provider’s customer support is lacking.
  • The payment solution is unreliable and you’ve experienced downtime. 

What to Look For in a New Payment Service Provider 

There’s no one-size-fits-all solution. What works for you might not work for your neighbor and vice versa. That said, there are a few key features that most businesses need. Keep these in mind as you look for a new provider.

Transparent Pricing Structure

Payment service providers (PSPs) use a variety of pricing structures - some operate on a subscription basis, with a set monthly fee and separate processing fees. Others only charge you per transaction. Some PSPs charge a set rate, while others charge a percentage. 

Be sure to choose a provider that has a transparent fee structure so you never end up with a surprise bill. You can compare the terms set by your current provider with any prospective providers to get an understanding of what you’ll pay. Generally speaking, a flat-rate, per-transaction fee structure will save you the most money and help you avoid any unexplained charges.

Variety of Payment Methods

Customers use far more payment methods today than just debit and credit cards. In fact, many customers are loyal to alternative payment methods (APMs), like Apple Pay and PayPal. Offering the right options can often help you boost customer loyalty. Aim to choose a provider that supports a variety of payment methods so you can serve your target audience.

Customizable Solutions

Your PSP facilitates payments between your customers and your business, whether that’s via checkout pages, invoices, direct payment links, or in-person transactions. No matter how you get paid, you should be able to customize the solution to your needs.

For example, if you own an ecommerce business, you must tailor your checkout process to your website. Some PSPs offer prebuilt checkout pages, others allow you to use advanced options, like integrating with their APIs. Your PSP should allow you to customize either option so that the checkout page fits seamlessly with the rest of your website.

Advanced Security Measures

Security is a growing concern for business owners and customers alike. Your payment service provider should provide all necessary payment-related security measures. To start, it should maintain PCI DSS compliance so that your business doesn’t have to. It should also use more advanced tools, like tokenization to protect sensitive data and 3D Secure 2.0 (3DS2) to protect your business from fraud.

Proven Customer Service

You should expect your payment solution to work 24/7. However, you never know when you might run into an issue, so your PSP’s customer service team needs to be easily accessible. 

They should make onboarding fast and easy, respond quickly to questions, and provide ongoing support. You might check for online reviews to ensure that other people have had good experiences with your prospective service provider.

Ease of Use

Payment solutions can be complex, but the right PSP can make setup and maintenance easy. It should be intuitive, allowing you to quickly adjust your checkout page, add payment methods, review reporting, track payments, and issue refunds.

3 Steps to Switch Payment Service Providers

Once you’ve decided on a new payment service provider, making the switch can still feel confusing. Follow along with these simple steps, and you’ll have a new PSP in no time.

1. Review Your Contract

If you’re currently under contract, you’ll need to review it and determine the contract end date. Switching to a new provider could result in early termination fees, so be sure to read the fine print. You may want to wait to make the switch. On the other hand, if your current solution is negatively affecting your business, the fees may be worth it to get a more effective solution. 

The contract will also specify how much notice you must provide when you want to terminate the service. It’s generally best to plan the switch a few months before your termination window. Notify your current PSP of your plans to avoid any automatic contract renewals.

2. Sign Up With Your New Provider

Signing up with a new payment service provider should be fairly simple. You’ll just need to provide some basic business information, like your business name, type of business, length of time in business, and what services you need. Agree on a setup and transfer date to avoid any downtime between solutions.

3. Set Up and Learn the New System

Finally, it’s time to set up your new solution. Depending on your provider, you may set it up on your own or have a specialist come to your store and install the equipment. The PSP may teach you and your team how to use the system, or you may learn about it online via demos and tutorials. 

The Benefits of Working with as Your Payment Service Provider 

Ready to make the switch to a more advanced payment service provider? With’s powerful full-service payment solution, you can optimize your payment operations and provide an excellent customer experience. We offer robust features, including:

  • Customizable solutions. You can use our developer-friendly APIs to add hosted payment fields to your website or app, creating a smooth, seamless checkout experience.
  • Top security measures. maintains Level 1 PCI DSS compliance. We use advanced security tools like tokenization and multifactor authentication to protect sensitive customer information and avoid fraudulent transactions.
  • Various payment methods. Earn your customers’ loyalty by accepting a variety of payment methods, including Apple Pay, Google Pay, PayPal, ACH transfers, and more.
  • Affordable fees. has a flat-rate, per-transaction fee structure. You only pay for successful transactions. Plus, you can track all of your fees in the dashboard so you never get any surprise bills.

The Bottom Line: It's Never Too Late to Switch to a Better Payment Service Provider 

Changing service providers as a merchant is rarely a simple decision, but it can be a game changer for your business. By switching to a new payment service provider, you can support your growing business with fewer fees, and advanced features. 

Choosing the right PSP is key, so be sure to look for the elements we discussed above. has powerful solutions to support your business, whether you need to streamline your checkout process, add more payment methods, or utilize more advanced security features. Plus, it’s affordable, with a completely transparent fee structure. 

Click here to get started with now!


What's the best way for a business to accept online payments? makes it easy for you to get set up and quickly start accepting online payments. After a fast onboarding process, you can set up a custom checkout page and add all the payment methods your customers demand.

When should your business switch merchant service providers?

You should make the switch when your current service provider is no longer supporting your needs. You may have higher-than-expected fees or a system that cannot support the payment methods your customers want. Or, you may feel like your current provider’s security measures are lacking.

How do I set up a new payment system?

Every payment system is different. Generally speaking, you’ll need to create an account, get approved, and set up an online checkout page. You’ll also need to select payment methods, which you can usually do from the user dashboard. If you’re setting up an in-store payment system, your provider will likely send a technician to you for equipment setup and training. 

What is the most secure payment system? uses the most advanced security measures to ensure that all payment information is secure. We use tokenization to protect credit card details and support 3DS2, which uses multifactor authentication to avoid fraudulent transactions. Plus, we maintain Level 1 PCI DSS compliance - the highest level possible.

Meet the author
Ginny Dorn
Ginny Dorn is a finance and business copywriter specializing in credit card processing and fintech. She graduated from Western Illinois University with a bachelor's degree in family and consumer sciences.
The Customizable Payment Solution You Need

With, you get access to a full payment infrastructure, a variety of payment methods, and advanced security measures. The best part? You can customize the solution to fit your needs - whether you want to integrate with our APIs or use a prebuilt checkout page.

Get started now

Ready to boost revenue for your business

Contact sales