Comparing Payment Providers for Webshops – Pros and Cons

When you start your own webshop, one of the most important decisions is choosing a payment provider. After all, you want your customers to actually be able to pay for the products they have ordered. Because there are so many online payment providers, it's not surprising that you might lose track of the options. That's why we have listed the best-known payment providers for webshops in this blog, including their pros and cons.

In this blog:

• What is a payment provider?
• Why do I need a payment provider for my webshop?
• The costs of a payment provider
• What should I look for when choosing a payment provider?
• The best-known online payment providers [including pros and cons]

What is a payment provider?

With an online payment provider, also known as a Payment Service Provider, you can offer various online payment methods in your webshop, such as iDEAL, PayPal, credit card payments and direct debits. This allows your customers to pay for your products as easily as possible. The payment provider handles the processing of the transaction and then ensures it is safely deposited into your account.

Why do I need a payment provider for my webshop?

It is not mandatory to use a payment provider for your webshop, but it is strongly recommended. Without one, you would need to add each payment method to your webshop individually and handle the implementation yourself for every method. Using an online payment provider takes care of that part for you.

The costs of a payment provider

The costs of an online payment provider vary per provider and depend on which one you choose. Costs you will frequently encounter are transaction fees, which usually range between 1.5% and 3.5% per transaction. It is good to know that some payment providers also offer subscription plans where you pay a fixed monthly amount and a lower fee per transaction.

What should I look for when choosing a payment provider?

You now know what a payment provider is and why it is important to have one. But how do you choose the right payment system for your webshop? The choice depends on several factors, which we outline below:

• Is integration with your webshop software possible? If an online payment provider does not support your webshop software, it will quickly drop off your shortlist.
• Which payment methods do you want to offer? List the payment methods you want to provide in your webshop. Give your customers multiple options so their preferred method is always available. Once you know which methods you want, you can look at which providers offer them and at what rates.
• What are the rates of the online payment provider? As a webshop owner, you naturally want to keep your costs as low as possible. Look carefully at the rates that payment providers charge and compare them with each other.
• Which integrations does the payment provider offer? Payment providers often offer integrations with other platforms, such as accounting packages or CRM systems.
• Is the online payment provider reliable? Payment providers must meet high reliability requirements before they receive a licence. However, this does not say enough about how a provider is known and trusted by customers. Do your research by reading reviews from other parties.

With Combidesk you can easily connect your chosen payment provider to your accounting package and other business software. Try free for 30 days!

Comparing payment providers for webshops: pros and cons per provider

Now that you know what to look for when choosing the right payment provider for your webshop, you can start comparing them. There are quite a few available, so it is understandable if you feel overwhelmed. That's why we have listed the best-known online payment providers below, including their pros and cons.

Mollie

Mollie is a European payment provider primarily aimed at small businesses. Thanks to plugins, various payment methods can be integrated into your webshop. At Combidesk we offer various Mollie integrations so you need to enter less data manually.

Pros

• Mollie is a very user-friendly payment provider.
• Every well-known payment method is available.
• You only pay per successful transaction.

Cons

• Customers pay directly to Mollie rather than to you, meaning you do not receive the amount immediately. It is transferred to you periodically.
• Bank statements are sent to customers with Mollie's company name instead of yours, which can be confusing.
• There is a higher rate for buy-now-pay-later payment methods.

Buckaroo

With Buckaroo you can easily automate payments, direct debits and related administrative processes. It is therefore not just an online payment provider, but actually an all-in-one solution.

Pros

• Buckaroo is very innovative. For example, a 'Smart Checkout' with self-learning technology is available.
• Over 40 payment methods are offered.
• Bank statements contain your company name.

Cons

• Buckaroo charges a one-time connection fee.
• The contract duration is only 1 year.
• A higher rate applies for buy-now-pay-later payment methods.

CM.com

The international payment provider CM.com strives to develop technologies that have a positive impact on society.

Pros

• Innovative payment method variants are available, such as iDEAL QR and AutoCollect.
• There are no connection fees to pay.
• Extra modules are available such as tokenisation, fraud prevention and Point2Pay.

Cons

• 20 payment methods are supported, which is considerably fewer than other online payment providers.

Pay.

Pay. is one of the oldest online payment providers in the Netherlands and grows along with your business. As an all-in-one payment provider, they offer various packages and ready-made plugins. At Combidesk we offer various Pay. integrations so you need to enter less data manually.

Pros

• Over 40 payment methods available.
• No connection fees to pay.
• Pay. offers 24/7 support to their customers.

Cons

• Transaction costs are unfortunately somewhat higher than average.

Adyen

Adyen is an international payment provider that makes managing your finances easier. Since 2018, they have even been a publicly listed company. Adyen is primarily focused on larger businesses.

Pros

• Over 250 payment methods available.
• You can apply data-driven insights.
• Adyen also offers solutions for POS functionality and online marketplaces.

Cons

• There is a minimum monthly invoice of € 100.

Stripe

Stripe is an American company present in 25 countries, offering both local and global payment methods. Stripe's focus is primarily on making the payment process as customer-friendly as possible. At Combidesk we offer various Stripe integrations so you need to enter less data manually.

Pros

• Local payment methods in 25 countries.
• Stripe is easy to connect to your webshop.

Cons

• The company started with a focus on credit card payments.
• The payment methods iDEAL and Bancontact cannot be offered at the same time.
• Live chat support is only available in English.

PayPal

Thanks to PayPal, your customers can pay quickly from anywhere in the world. At Combidesk we offer various PayPal integrations so you make fewer errors and have more time to focus on what you do best.

Pros

• Customers only need to enter their email address and password to pay.
• Payments can be made in more than 25 currencies.
• The platform can be used as an all-in-one solution or as an additional payment method alongside other providers.
• Seller protection is available.
• The more you earn, the lower the transaction costs.

Cons

• There is no option to pay afterwards (buy now, pay later), making it necessary to also use another payment provider alongside PayPal.

Rabo Smart Pay

Rabo Smart Pay from Rabobank offers a complete solution for all payments in your webshop. With this payment provider, you can easily add the payment methods that suit your webshop. At Combidesk we offer various Rabo Smart Pay integrations so you need to enter less data manually.

Pros

• If you have both a webshop and a physical store, the payment provider gives you a clear overview of both sales channels.
• Paid out within one day.
• Rabo Smart Pay offers the most widely used payment methods.
• You only need to sign once and can expand at any time.

Cons

• Not specifically focused on webshops. The focus is more on physical locations.

MultiSafepay

MultiSafepay is a Dutch payment provider offering a wide range of payment methods. They focus on both domestic and international online payments and are suitable for both small and large webshops.

Pros

• Over 30 payment methods available, including iDEAL, PayPal and credit cards.
• Available in multiple European countries.
• Extensive fraud prevention options.

Cons

• The interface is less intuitive compared to some other payment providers.

The best payment provider for your webshop

The best payment provider for your webshop depends on which webshop software you use and your own needs. It is worth comparing all online payment providers with each other. Put the pros and cons side by side and look critically at the costs.

Don't forget to use a good accounting package alongside a payment provider. This allows you to track your payments and easily view your revenue. By connecting these two systems you can keep a clear overview of all payments made. Combidesk has a large library of accounting and payment integrations. For a fixed monthly fee, you have a ready-made connection between your systems.

Try Combidesk free for 30 days!