Are you considering expanding your payment solutions services and wondering which device to choose? The search for the most economically advantageous offer is aimed at both the buyer and the e-merchant. What is it all about? How to distinguish them? Quickly find out the criteria for choosing a payment solution.

Price, safety , technical integration Belgium Phone Number List choose his or her payment solutions based on the analysis of several criteria . But it is above all essential to opt for a payment solution that meets the needs and that maximizes the conversion of an e-commerce site. In order to help you make an informed choice adapted to your business, we offer you the rest of our complete file on the subject of PSP .

If you are launching an E-commerce project or looking to challenge your current provider, do not neglect solutions with VAD. They have particularly made great progress in recent years, and, in certain contexts, they sometimes prove to be much more advantageous than Fintechs , and all the more so when you already have an existing volume of business. How to conduct research ? Which payment solutions to choose ?

Payment adapted to e-commerce

Follow our advice, starting with the essential criteria for the PSP selection process . The first important factor in choosing a PSP is of course the commission model . The cost models include both fixed and variable costs . The costs depend on the expected turnover and the average amount of transactions carried out. On average, PSPs take between 1.5% and 3% of online store revenue, but the percentage can vary and reach up to 9% in some cases .

For small transaction volumes, vendors also offer a flat fee that levies a certain amount on each transaction. In addition to the variable fees, there may be predetermined monthly fees and some one-time installation fees may arise and amount to up to 500  cancellation fees and currency conversion rates may also apply.


Either way, the fees will be cheaper as the turnover increases and the contract is long term. Some PSPs offer e-merchants tests, which make it possible to guarantee that a store is compatible with the interfaces provided , before locking any contract with them.

In addition, the choice of a payment solution must be based on the forecast of your business plan to be able to anticipate, at each stage of your development, what your financial costs will be.

Adaptation to mobile payment practices

And, moreover, when starting to negotiate with a PSP, the most effective is to askreviewing transaction history with a view to choosing the most appropriate cost model. Payment-While the share of mobile e-commerce has recently exceeded 50% of total transactions , it is vital to operate simple and fast purchasing platforms , adapted to mobile devices.

Mobile payment behaviors such as payment by SMS or QR-code are also available and useful for specific target groups or an omnichannel strategy for in-app purchases . The internationalization of your payment solution. Finally, importantly, online payment providers must adapt to local practices and regulations.

According to a study by the European Commission, 60% of all cross-border transactions cannot be concluded because the payment methods available in some countries are not offered by online merchants.

If, in France and Spain, payment by bank card is very widespread, in Italy, on the other hand, the practices of payment in cash and cash on delivery are still very frequent . And, surprisingly, in the top 3 of German preferred payment methods are payment by invoice (for professionals in particular), direct debit, and PayPal.

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