What is the best payment service

Payment service provider for online shops

4. Costs for a payment service provider

The costs for a payment service provider can be broken down as follows:

  • one-time setup costs per payment method
  • monthly provision fees per payment type
  • variable costs for each product purchase using one of the payment methods

There are payment service providers who charge neither setup costs nor monthly preparation fees, but instead charge correspondingly higher percentage fees for a product sale. Based on your (estimated) sales, it is relatively easy to calculate which variant is the most attractive for you as a shop operator.

Setup costs and monthly fees are usually in the double-digit range, depending on the payment method. When it comes to the percentage costs per sales transaction, payment service providers must differentiate between the individual payment methods:

  • Payment on account with risk protection: between 3.5 and 6 percent
  • Payment by direct debit with risk protection: between 2 and 3 percent
  • Payment by direct debit without risk protection: between 1 and 2 percent
  • Payment by credit card: between 2 and 4 percent
  • Payment by PayPal between 2.1 and 2.5 percent

It is therefore worth making a thorough comparison before the merchant decides on a payment service provider.

Use a website builder, integrate the payment method there via a payment service provider and start selling via your online shop tomorrow.

More about shop systems

5. Frequently asked questions about payment service providers

A payment service provider takes on the integration of different payment methods into an existing online shop. Working with a payment service provider is therefore an opportunity for companies to save time and effort.

Payment service providers must adhere to the Payment Services Directive 2 (PSD 2). A payment service framework agreement must also be concluded with the operator of the online shop.

There is no difference between the two terms. It is only about the English or the German word. The abbreviation for “Payment Service Provider” is “PSP”.

Many shop systems already have interfaces to the most important PSPs. If there is no interface and no module, the interface must be programmed using the API.

Be sure to test all payment methods that the PSP offers beforehand. Both user-friendliness and the flawless functioning of the payment systems are important.

6. Conclusion: The advantages outweigh the rest

The use of a payment service provider can save time and money, as the independent integration of many individual payment types into the shop system is associated with great effort. The investment is particularly worthwhile if there is no in-house expertise.

Some payment service providers also support founders in putting together the most relevant payment methods in a meaningful way. This aspect is important and should not be neglected: It is not the mass, but the specific orientation of the payment methods towards the customer groups that is decisive for the success of an online shop. User-friendliness should always come first, which in turn depends on the shop system chosen.

Author: Für-Gründer.de editors

As editor-in-chief, René Klein has been responsible for the content of the portal and all publications by Für-Gründer.de for over 10 years. He is a regular interlocutor in other media and writes numerous external specialist articles on start-up topics. Before his time as editor-in-chief and co-founder of Für-Gründer.de, he advised listed companies in the field of financial market communication.