Clover Credit Card Processing Review

Why Clover Is Best for New Businesses

We chose Clover as the best credit card processor for new businesses because it features flat-rate pricing, doesn’t force you into long-term contracts, and offers robust POS software and hardware. This cost-effective and flexible structure gives new businesses exactly what they need to grow with confidence.

With Clover, you can accept online orders, process mobile credit card payments, and create gift cards and customer loyalty programs, all of which can help a new business gain traction and grow quickly. We especially love that you don’t have to shop around for separate vendors for your POS and credit card processing needs, which is helpful for a newly launched company with limited funds and a long to-do list.

Usability

The primary way your team will engage with Clover is through the POS software interface, rather than with the credit card processing service itself. Except for the virtual terminal, Clover’s credit card processing abilities are not stand-alone; they require users to purchase the company’s POS hardware. For that reason, we examined the POS software’s ease of use alongside Clover’s credit card processing service.

Clover’s POS system comes installed on its own hardware, but it is also available via the company’s mobile app and virtual terminals. This gives business owners flexibility and on-the-go access without requiring additional equipment. When testing out the platform, we found the interface easy to use and intuitive.

In our review of Clover, we found it easy to accept credit and debit card payments from the Clover web dashboard. The system offers end-to-end encryption to secure transactions and stay compliant with the Payment Card Industry Data Security Standard. Clover has some of the fastest processing speeds we encountered in our review, purportedly running EMV chip transactions in less than 3 seconds. Through the dashboard, you can also send invoices and receipts, as well as store customers’ card information to speed up the checkout process.

Clover enables you to accept multiple payment options, including swipe credit card payments, EMV chip cards and contactless payments.

Clover makes it easy to accept payments from anywhere.

We don’t see any reason why employees would encounter difficulties or challenges when learning how to use the system. Clover offers several tools that simplify employee management, including an employee time clock for payroll tracking. We also like how the reporting tools provide analytics on employee productivity and customer foot traffic. This data helps you identify peak operating hours and schedule shifts accordingly.

Although Clover previously focused almost exclusively on brick-and-mortar businesses that require a POS system, it has expanded its capabilities to accommodate e-commerce businesses. The company provides customers with tools to build a website, synchronize orders, and manage inventory and customer data. Through the Clover dashboard, businesses can sell products, accept online payments, create menus and allow customers to book appointments.

Clover’s partnerships with e-commerce platforms such as BigCommerce and Ecwid give businesses with existing websites more reach. Clover also integrates with other online marketplaces, such as Instagram, Facebook, Amazon, Etsy and eBay.

Clover Features

Clover has several features that make it one of our picks for the best credit card processing services. Here’s a look at some features that may be particularly useful for recently launched small businesses that want to process credit card payments.

Merchant Account

To accept credit card payments, you need a merchant account, which Clover provides through its parent company Fiserv. When you work with Clover, most sales deposits will show up in your bank account the next day.

Want them even sooner? We love that Clover’s Rapid Deposit program lets you get money from your credit card sales in minutes. However, you must pay a 1.75% transaction fee for this perk.

Fast Transaction Processing

You can process credit card transactions in seconds with Clover. You also save time by setting tax rates just once; they are then automatically applied to all future transactions. There’s also the ability to accept payments on the go, even without Wi-Fi. The sales are processed as soon as the device is back online.

Reporting

Clover enables you to run reports — including analytics on sales, products, inventory and customer preferences — from its processing terminal. Clover can also integrate with QuickBooks and Xero to expand its reporting data. See our review of Xero to learn more about this accounting software.

Payments

You can accept EMV chip cards, contactless payments and mobile wallet payments with Clover. The platform also supports online ordering for curbside and in-person pickup.

Customer Management

Through Clover’s customer engagement platform, you can set up customer profiles, send emails to clients and create rewards programs.

Gift Cards

An uncommon but delightful inclusion is Clover’s gift card feature, which offers more than 70 gift card designs for customers. If you want to include your company logo or you have a specific vision for your gift cards, you can design your own.

E-Commerce

E-commerce is driving a lot of growth for businesses, and Clover supports virtual transactions with e-commerce tools. You can use Clover’s services to build a website; sell online; and synchronize orders, inventory and customer data. You can also create menus, book appointments and accept payments. Clover has partnerships with e-commerce platforms BigCommerce and Ecwid and integrations with Instagram, Facebook, Amazon, Etsy and eBay.

Merchant Cash Advance

Clover can advance cash to you if you find your funds are getting low. The company will take a percentage of your credit card sales each day until the money is paid back. This is a really great benefit for new businesses that may be struggling with cash flow.

Clover Costs

You’ll pay rates starting at 2.5% plus 10 cents per transaction for Clover’s payment processing services. 

We liked that, unlike some other payment processors we reviewed, Clover’s payment processing services don’t require a long-term contract. To cancel your service, you just provide written notice 30 days before your next payment is due.

POS System Costs

It’s not required, but if you opt to purchase a Clover POS system in addition to using the company’s payment processing services, you’ll owe additional monthly fees. The pricing plans for Clover’s POS system are listed in the chart below. Note that, unlike Clover’s payment processing services, many of these plans do require a long-term contract.

If Clover’s plans don’t meet your needs, you can contact the company for a custom quote.

If you prefer not to use a POS system, you can use Clover’s virtual terminal to accept payments by invoice or online. It costs $14.95 per month, but you can access it for free for the first 90 days. We recommend this method for service-based businesses, contractors and e-commerce companies.

For more information, refer to Clover’s pricing page and contact a sales rep for a quote.

Clover POS Hardware Costs

One of the main reasons Clover is a great option for new businesses is that the company makes and sells a lot of POS hardware. It also has a team of resellers, which means you can shop around for your Clover POS equipment to find the best price. [Check out our reviews of the best POS software if you prefer a stand-alone system.]

Here’s a look at how much Clover charges if you purchase your equipment directly from the company:

• Clover Go: This entry-level card reader lets you accept payments on the go. It works with iOS and Android devices and can be used on either of Clover’s POS software plans. The Clover Go costs $199.
• Clover Flex: This is Clover’s handheld device that can be used to take payments at checkout or table-side. The Clover Flex costs $749, or $40 per month for 36 months.
• Clover Flex Pocket: The Clover Flex Pocket is a lightweight version of the Clover Flex. Flex Pocket costs $699 or $35 per month for 36 months.
• Clover Compact: The Clover Compact is an affordable countertop terminal that costs $349 or $16 per month for 36 months.
• Clover Kiosk: The Clover Kiosk is a self-ordering device with a 24-inch display and a built-in printer. The Clover Kiosk costs $3,499 plus $34.95 per month per device.
• Clover Station Solo: The Clover Station Solo is for one side of the counter and includes a 14-inch screen. The Clover Station Solo costs $1,799 or $174 per month for 36 months.
• Clover Station Duo: The Clover Station Duo is designed for both sides of the counter. It costs $1,899 or $180 per month for 36 months.

Setup

To apply for Clover’s services, you must contact the company through its website or by phone. We liked that you can use the site’s online calendar to schedule a date and time for a sales call or call the sales department directly.

When you connect, a Clover rep will review your business’s needs to determine the best package for you. Solutions and pricing are tailored to your business and take into account these and other criteria:

• The type of product or service you sell and your average sales
• Inventory automation (if applicable)
• Counter service or table service and customizable menus (if you run a restaurant)
• Sales tax calculation or itemization of customer receipts
• The type of Clover device you prefer

Customer Service

Clover has 24/7 customer support by phone and the Help app on your Clover devices. Clover also offers fraud protection of up to $100,000.

For this review, we contacted a representative through the live chat option on Clover’s website and asked numerous questions about Clover’s features. We found that the representatives typically responded within 10 to 20 minutes for each question. Be prepared to present information about your business’s sales volume, products and what you want out of the Clover system.

We found that Clover’s representatives were knowledgeable, but because the company offers many custom business solutions, it can be difficult to obtain an easy answer. 

Drawbacks

Clover has a lot to offer small businesses that want one vendor to handle all of their credit card processing and POS needs, but there is a potential downside to that: You can’t use Clover for credit card processing alone. Apart from relying solely on the virtual terminal, you must use the company’s POS hardware. This means that if you already have a POS system that you like and you just need a credit card processor, Clover isn’t for you.

Clover offers customized solutions for different business needs, which may mean higher pricing or fees for certain types of businesses. To know the pricing plan you’ll need and what you’ll owe, we recommend contacting Clover and discussing your business’s needs.

Methodology

To conduct our review of Clover’s credit card processing service, we arranged a live demo with the Clover team, who gave us a walk-through of the product and conducted a thorough question-and-answer session. In addition, we analyzed Clover’s website, marketing materials and customer reviews. To make our decision, we zeroed in on criteria such as affordability, ease of use, and features that are relevant to small businesses. In the end, we chose Clover as the best credit card processing service for new businesses because of its rates, flexible terms and associated POS software, which can help new businesses get up and running quickly.

Overall Value

We recommend Clover credit card processing for …

• New businesses that want to avoid long-term contracts.
• Businesses that require robust features and functionality not offered by a simple POS system.

We don’t recommend Clover credit card processing for …

• Businesses that already have a POS system they don’t want to abandon.
• High-volume businesses that process a large number of transactions.