If you run an online shopyou want one thing for sure: that your customers Simple, safe and convenient be able to pay. This is exactly where payment providers come into play - also known as Payment Service Provider (PSP) or Payment Gateway.
This article will give you an overview of the most important payment providers, their differences and what you should look out for when making your choice.
Why do you need a payment provider at all?
Payment providers take care of everything to do with money in the background:
- Enable credit card payments
- Integrate PayPal, Klarna & Co.
- Secure payments (e.g. in the event of attempted fraud)
- Manage refunds
- fulfil legal requirements such as PCI-DSS
In short, they take a lot of technical and legal work off your hands.
The best-known payment providers at a glance
Here are the most important players that are particularly suitable for online shops:
| Provider | Payment methods | Fees (approx.)* | Ideal for | Special features |
| Stripe | Credit card, Apple Pay, Google Pay | 1.4-2.9 % + € 0.25 | Modern shops & start-ups | Developer-friendly, super APIs |
| PayPal | PayPal account, direct debit, credit card | 2.49-2.99 % + fixed amount | Widespread, popular almost everywhere | High user acceptance, quick start |
| Klarna | Purchase on account, instalment purchase | 1.99-2.99 % + € 0.35 | Higher-priced products | Risk assumption for purchase on account |
| Mollie | Many (incl. Sofort, Giropay, Apple Pay) | from 1.8 % + € 0.25 | Flexible & international | Simple integration, many options |
| Shopify Payments | Credit cards, Klarna, Apple Pay | like Stripe (integrated) | Shopify shops | Directly integrated, saves transaction fees |
*Fees vary depending on country, volume and tariff.
What should you look out for?
Here are a few important selection criteria:
- Target group & payment behaviour: Young customers often pay with Apple Pay, older customers tend to pay by invoice.
- Internationality: Do you need currencies & payment methods outside Germany?
- Integration into the shop system: Does the provider integrate well with Shopify, WooCommerce or Shopware?
- customer experience: The simpler the checkout, the higher the conversion.
? Our conclusion:
There are not the one best payment provider - but the one that best suits your shop. Many retailers combine several providers, e.g. Stripe plus PayPal to cover all customer needs.
