If you run an online shop, one thing matters above all: customers must be able to pay quickly, securely and conveniently . That is the role of a payment service provider (PSP), sometimes referred to as a payment service provider (PSP) or payment gateway.
This guide compares the main options, explains their differences and highlights the criteria that matter when choosing a provider.
Why does an online shop need a payment provider?
Payment providers handle essential parts of the transaction infrastructure, including:
- Accepting card payments
- Adding methods such as PayPal and Klarna
- Screening transactions for potential fraud
- Processing refunds
- Supporting compliance with standards such as PCI DSS
In short, they remove much of the technical and operational complexity involved in taking payments.
Popular payment providers at a glance
These are some of the best-known options for online retailers:
| Provider | Payment methods | Indicative fees* | Ideal for | Key features |
| Stripe | Credit card, Apple Pay, Google Pay | 1.4-2.9 % + € 0.25 | Modern shops and start-ups | Developer-friendly with strong APIs |
| PayPal | PayPal account, direct debit, credit card | 2.49-2.99 % + fixed amount | Broad recognition across many markets | Familiar to customers and quick to introduce |
| Klarna | Pay later and instalments | 1.99-2.99 % + € 0.35 | Higher-priced products | Klarna assumes eligible credit risk for pay-later purchases |
| Mollie | Many (incl. Sofort, Giropay, Apple Pay) | from 1.8 % + € 0.25 | Flexible and international | Straightforward integration and a broad range of methods |
| Shopify Payments | Credit cards, Klarna, Apple Pay | Comparable to Stripe and built in | Shopify shops | Native integration can avoid Shopify's additional third-party transaction fee |
*Fees vary by country, payment method, volume and contract. Check current provider pricing before deciding.
What should you consider?
Focus on the criteria that affect your customers and your margins:
- Audience and payment preferences: Preferences differ by audience and market. Mobile wallets may matter for some groups, while invoice payments remain important in parts of Europe.
- International coverage: Will you need additional currencies or local payment methods outside Germany?
- Platform integration: Does the provider integrate reliably with Shopify, WooCommerce or Shopware?
- Customer experience: A fast, trustworthy checkout can reduce abandonment and improve conversion.
Conclusion
There is no single best payment provider — only the best fit for your shop. Many retailers combine providers, such as Stripe plus PayPal, to cover the payment methods their customers expect.
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