1. Online Payments: Theory for Understanding

To accept payments in an online shop, merchants require two contracts:

1. Acceptance Contract (Acquiring Contract): This is concluded with an acquirer (see Chapter 1.2).

2. Processing Contract: This is concluded with a payment provider (PSP) (see Chapter 1.1).

The following explains exactly what an acquirer and a payment provider are and how they interact with the online shop.

1.1 What is a Payment Provider?

A payment provider (also Payment Service Provider or PSP) enables the technical integration of online payment methods such as Mastercard, TWINT, PostFinance, and Apple Pay into an online shop. Instead of negotiating with each financial institution individually and integrating payment methods separately into their shop, online merchants (also merchants) can work directly with a PSP. This grants them all the desired payment methods, integration systems, and e-commerce tools while also meeting the necessary security requirements.

The processing contract with the payment provider regulates the technical processing of payments, i.e., the connection between the online shop, the payment provider, and the banks. In some cases, however, merchants also require an acceptance contract with an acquirer – unless the PSP takes on this role itself as a payment facilitator (see Chapter 1.3).

Functionality of a Payment Provider (PSP)

1.2 What is an Acquirer and an Acceptance Contract?

An acquirer (also called an acquiring bank) is a financial institution that processes credit and debit card payments for merchants. For an online shop to accept such payments, it needs an acceptance contract. This regulates the acceptance and processing of card payments and specifies fees, security requirements, and chargeback processes. 

1.3 What is a Payment Facilitator?

A payment facilitator (also PF or Collecting PSP) simplifies payment processing for merchants by acting as an intermediary between them and the acquirer (see Figure 2). The payment facilitator can sign the acceptance contract on behalf of the acquirer. Merchants, in turn, sign their contract directly with the payment facilitator and therefore do not need a separate acceptance contract with an acquirer.

Thus, the payment facilitator enables the integration of various payment methods from different acquirers in an online shop with just one contract – for example, Visa, Mastercard, TWINT, PostFinance, and Reka. 

Functionality of a Payment Facilitator (PF)

In addition to these two fundamental models, there are other hybrid forms, which are not further explained in this article for the sake of simplicity.

2. How to Choose the Right Provider?

Choosing the right provider depends on several factors. Merchants should ask themselves the following questions:

• What payment methods should be offered? A diverse range of payment options increases customer satisfaction and conversion rate. Merchants should therefore consider which payment methods their customers prefer. Not all providers support the same payment methods – especially for regionally popular options like TWINT or PostFinance Pay, selecting the right provider is crucial.

• What shop system is being used? The technical integration of a payment provider can be facilitated by pre-made plugins¹. For well-known systems like Shopify or WooCommerce, most providers offer ready-made plugins for easy implementation. Flexible API solutions are available for custom-developed shops from some providers.

• What tools are needed? The functionalities of a payment provider should match the requirements of the shop. While some providers offer specialised solutions for donation platforms or subscription-based business models, there are also all-in-one platforms that cover a wide range of business models.

• What costs are involved? Besides transaction fees, potential monthly fixed costs, setup fees, and additional costs for special features should also be considered. This helps to avoid unexpected expenses.

• What target audience is being addressed? Different payment methods are relevant depending on the clientele – young consumers often expect wallet solutions, while businesses or international clients benefit from fast and cost-effective alternatives like Instant Payment. Instant Payment (also Pay by Bank) enables direct bank transfers in real-time and saves fees, especially in international payment transactions. Currently, Payrexx is the only provider in Switzerland that offers Pay by Bank.

In addition to these functional and security-relevant aspects, merchants need to consider easy and stable connectivity, a wide range of payment methods and tools, reliable support, and a cost-effective pricing model to avoid unnecessary expenses.

Moreover, it is advisable to choose a provider that also functions as an acquirer or payment facilitator. This way, merchants have a single contact for all payment processes.

¹Extensions for shop systems that facilitate the integration of payment providers without programming.

3. Overview of the Functions of Individual Payment Providers

The following table shows which payment methods are supported by the individual providers. For better clarity, only the most common payment methods are considered. The table also provides information on which providers offer plugins for common shop systems.

Some payment providers also offer their own, usually very basic, shop systems, which can be used to create a small online shop for products, vouchers, subscriptions, or donations without programming knowledge. Such solutions are listed in the table under "E-Commerce Tools".

To better assess customer satisfaction and service quality, the table also includes the Google ratings of all providers.

Function matrix of various payment providers

4. Cost Analysis

In this section, the monthly costs (subscription and transaction fees) for different providers were calculated. The analysis is carried out for two example online shops: one with a turnover of 20,000 EUR and one with 100,000 EUR.

For the calculation, the cheapest offers of the individual payment providers for the respective sales volume were selected. The price information comes from the websites of the respective payment service providers¹. Possible setup fees are not taken into account in the diagram.

4.1 Online Shop with a Turnover of 20,000 EUR per Month

The following cost analysis shows the monthly fees for smaller online shops with a turnover of 20,000 EUR with 200 credit card transactions per month. The average value of a transaction is 100 EUR per purchase.

Monthly costs with a turnover of 20,000 EUR (without setup)

A small online shop benefits from the lowest fees with Payrexx, closely followed by PostFinance. With costs of 790 EUR, PayPal is the most expensive for online shops with this volume. The price difference between Payrexx and PayPal is 435 EUR. The costs of the cheapest payment provider, Payrexx, are thus more than 50 percent lower than those of the most expensive.

In addition, Payrexx offers exclusive discounts to start-ups and non-profit organisations: 30 percent for start-ups and 50 percent for non-profit organisations on all subscriptions.

¹For the Datatrans offer, a separate acquiring contract must also be concluded. The costs for acquiring are therefore dependent on the choice of acquirer. Therefore, a value of 1.7 percent has been assumed (average of all other providers).

4.2 Online Shop with a Turnover of 100,000 EUR per Month

The next cost analysis shows the monthly fees for medium-sized online shops with a turnover of 100,000 EUR and 1,000 credit card transactions per month. The average value of a transaction is thus 100 EUR per purchase.

Monthly costs with a turnover of 100,000 EUR (without setup)

With monthly costs of 1,579 EUR, Payrexx is the cheapest provider for medium-sized online shops, followed by wallee. PayPal and Stripe are significantly more expensive than the others. The price difference between Payrexx and the most expensive provider is 2,371 EUR, which corresponds to a saving of over 60 percent.

For large online shops with a turnover of more than 100,000 EUR per month, no calculation was carried out. This is because many payment providers offer special conditions for larger customers, including Datatrans, Payrexx, Stripe, wallee, Worldline, and zahls.ch.

5. Detailed Overview of All Payment Providers

5.1 Payrexx

Payrexx is a Swiss omnichannel payment provider and facilitator that offers merchants a central platform to accept payment methods like credit cards, TWINT, PostFinance Pay, Apple Pay, and Google Pay – without separate contracts with acquirers.

The provider is characterised by its easy setup and free plugins for integration into all common shop systems, such as WooCommerce and Shopify. Furthermore, the platform offers a range of practical e-commerce tools, which are particularly attractive for smaller online merchants without their own online shop. Also included are innovative POS and SoftPOS solutions for local trade, as well as universal QR code payment stickers that can be used with TWINT and all desired payment methods.

Payrexx convinces with low fees and discounts for start-ups and non-profit organisations. All functions of Payrexx can be tested for free for 30 days. The average Google rating is 4 out of 5 stars with 144 reviews.

5.1.1 Price Overview of Payrexx

¹The free subscription of Payrexx does not include plugins and API connection.

5.1.2 Additional Remarks

Thanks to its comprehensive offer, Payrexx provides an attractive solution apart from the large, often expensive providers. The Swiss company stands out with its flexibility, personal support, and specialisation in SME merchants. This way, Payrexx distinguishes itself from global mass solutions. For registration with this provider, merchants need a valid photo ID, a document to confirm the address, and the commercial register entry, if available. Those who sign up before 4 p.m. will be checked on the same day.

5.2 PostFinance

PostFinance offers a payment solution specifically tailored to the Swiss market, enabling companies to accept payments quickly and securely. The provider includes all common means of payment (PostFinance Pay, TWINT, as well as Visa and Mastercard) and also provides various free shop plugins for integration into well-known shop systems.

Particularly noteworthy is the direct connection to the Swiss banking system and the high level of customer acceptance, which makes the provider particularly suitable for companies operating mainly domestically.

PostFinance also offers a free 30-day trial period in simulation mode. The average Google rating is 2.4 out of 5 stars with 158 reviews.

5.2.1 Price Overview of PostFinance

5.2.2 Additional Remarks

To use PostFinance, the company must be based in Switzerland or the Principality of Liechtenstein and have a business account with PostFinance or a credit card for fee billing. Billing is done in Swiss francs, but payouts can also be made in foreign currencies depending on the acceptance partner.

5.3 Worldline

Worldline offers both acquirer and payment provider services, and therefore provides its offerings in packages tailored to the respective use case. With the Worldline e-commerce package, payments in the online shop can be accepted without monthly fixed costs.

As a global provider of payment solutions, Worldline is distinguished by its many years of experience and comprehensive services. The provider offers a scalable solution with a wide range of payment methods for larger companies. Worldline has also specialised in dynamic currency conversion, so foreign customers can easily pay in their own currency.

For simple integration, Worldline provides a number of free and fee-based plugins. In addition, larger companies benefit from additional services and extensive reporting tools. Worldline has an average Google rating of 2.9 out of 5 stars with a total of 589 ratings.

5.3.1 Price Overview of Worldline

5.3.2 Additional Remarks

Medium and larger businesses as well as omnichannel solutions require an individual offer that cannot be ordered online. To find the right package, it is advisable to contact Worldline sales directly.

5.4 Datatrans (planet)

Datatrans is an established payment service provider, especially suitable for larger companies and those with high transaction volumes. The platform offers a wide range of payment methods and free as well as fee-based plugins for shop systems such as WooCommerce, Shopify, and Magento. Especially for companies with more complex requirements, Datatrans provides a tailored solution.

A key advantage of Datatrans is the direct connection to acquirers, which provides an efficient and reliable solution for companies with high transaction numbers. This also applies to smaller companies, for whom the separate contract with an acquirer can rather be an obstacle.

Once an acquirer contract is in place, a test account can also be created with Datatrans. The average Google rating of this provider is 4.3 out of 5 stars from 22 reviews.

5.4.1 Price Overview of Datatrans

5.4.2 Additional Remarks

Since Datatrans is neither an acquirer nor a payment facilitator, merchants also need an acceptance contract with a separate acquirer. To take this factor into account, a fee of 1.7 percent was used in this analysis. This is an assumed value based on the average of the other providers. However, the transaction fee can vary depending on the chosen acquirer.

5.5 PayPal

PayPal is a well-known, simple and standardised solution for online merchants. The provider makes it possible to accept payments in various currencies and offers a high level of security, especially for international transactions.

With over 400 million users and wide acceptance, PayPal is particularly suitable for companies looking to appeal to a large number of international customers. The platform supports a variety of payment methods, including credit cards, Apple Pay, Venmo, and many more. PayPal also offers some free plugins for common e-commerce systems like WooCommerce, Magento, and Shopware. Additionally, tools such as payment links, email invoices, and QR payments are available.

PayPal has an average Google rating of 1.8 out of 5 stars with a total of 618 reviews.

5.5.1 Price Overview of PayPal

5.5.2 Additional Remarks

Setting up PayPal is very simple. Merchants only need to provide their business information and trade register number. Large companies can also apply for special conditions with PayPal for a scalable solution.

5.6 Stripe

Stripe is a well-known and flexible payment solution, especially aimed at developers who require a highly customisable payment processing solution. The provider supports numerous payment methods, including credit cards, Apple Pay, Google Pay, and various regional payment methods. 

Stripe is suitable for both start-ups and larger companies with an international focus. The solution can be easily integrated into common e-commerce platforms such as WooCommerce and Shopify. In addition to numerous free plugins, Stripe also offers paid extensions.

The provider has a Google rating of 3.3 out of 5 stars with 76 reviews.

5.6.1 Price Overview of Stripe

5.6.2 Additional Remarks

To implement Stripe, merchants should possess developer skills. Furthermore, a valid photo ID and a trade register number are required for verification. For large companies, Stripe also offers special conditions that can be requested from the sales office.

5.7 wallee

wallee is a Swiss omnichannel payment provider that enables merchants to seamlessly process payments across various sales channels. The platform supports a wide range of payment methods, including credit cards, mobile wallets, and other local payment methods. Additionally, wallee offers both free and paid plugins for various shop systems.

wallee offers an API integration. The modular architecture also allows companies to choose only the functions they really need. This flexibility makes this provider an excellent choice for medium to large companies with specific requirements for their payment solution.

Online merchants can thoroughly try out wallee in a free test mode. The platform has a Google rating of 3.5 out of 5 stars with 112 reviews.

5.7.1 Price Overview of wallee

5.7.2 Additional Remarks

To use one of the various integrations from wallee, merchants usually have to carry out some technical steps. This includes setting up a wallee plugin for their shop system or directly connecting via the API.

5.8 saldiaPay

saldiaPay is an innovative Swiss payment provider that enables online payments via a unified platform. Here, merchants can accept payments via credit cards, TWINT, PostFinance, and many other methods.

A unique feature of saldiaPay is the "saldiaApps" – integrations for various solutions such as accounting, online shops, or logistics services. For merchants without their own webshop, saldiaPay also offers its own shop system "saldiaShop", with which a webshop can be created easily.

saldiaPay also provides free plugins for well-known shop systems such as WooCommerce and Shopware. All functions of the platform can be tested for 30 days free of charge. saldiaPay has a Google rating of 4.7 out of 5 stars with a total of 38 reviews.

5.8.1 Price Overview of saldiaPay

5.8.2 Additional Remarks

In addition to the wide range of integrated plugins and shop systems, saldiaPay offers many other webshop integrations upon request. Merchants need a photo ID and, if available, the commercial register entry for registration.

5.9 zahls.ch

zahls.ch is a Swiss payment provider that stands out for its particularly transparent and simple pricing. With zahls.ch, merchants can accept a wide variety of payment methods, including TWINT, PostFinance, and credit cards.

In addition to classic payments, zahls.ch's offering also includes e-commerce tools, such as an online terminal, payment links, digital invoices, or a self-configurable payment page (small online shop). This payment provider also provides free plugins for the most well-known shop systems and scores with easy setup and integration.

zahls.ch enjoys an average rating of 5 out of 5 stars but has only been reviewed three times on Google.

5.9.1 Price Overview of zahls.ch

5.9.2 Additional Remarks

With the integrated tools of zahls.ch, merchants can easily create their own online shop or connect the provider directly to their existing online shop. The verification process requires a valid photo ID and, if available, the commercial register entry.

Conclusion: Which is the Right Payment Provider?

Before online merchants decide on a payment provider, they should define the specific needs of their online shop precisely. In addition to costs, the range of functions, supported shop systems, and offered payment methods also play a decisive role.

For young, digital companies, Payrexx can be an interesting option. As an all-in-one payment solution, Payrexx offers broad support for all common shop systems and is also the cheapest provider for medium-sized online shops – followed by PostFinance and wallee. PayPal and Stripe, on the other hand, charge relatively high transaction fees, while Datatrans incurs high monthly fixed costs. To find the best solution, each provider offers a free trial period.

Almost all providers offer plugins for popular shop systems like WooCommerce, Shopware, or Shopify. While plugins from Payrexx, PostFinance, PayPal, and Stripe are free, Worldline, Datatrans, and wallee may incur additional costs. At saldiaPay and zahls.ch, plugins are often available upon request.

Another important point is the range of payment methods. While all providers offer a wide range of payment options, the difference often lies in the support of regional payment methods like TWINT, PostFinance, Reka, and others. Here, Swiss providers such as Payrexx, Datatrans, saldiaPay, or zahls.ch have an advantage. However, those with a lot of international customers benefit from global providers like PayPal or Stripe.

Regarding ease of integration, PayPal, Payrexx, and zahls.ch are particularly convincing, while Stripe, Worldline, and Datatrans score with more customisation options. Since setting up some providers involves a high level of technical know-how, this point should also be considered when making a choice.

In summary, it is worth considering newer and lesser-known providers. These often offer cost-effective and at the same time powerful payment solutions and can also better cater to the individual needs of merchants. For small and medium-sized shops, Payrexx and wallee are a good choice, while an established provider may be more worthwhile for larger companies. In terms of price, functionality variety, and user-friendliness, Payrexx is clearly a leader.

Sources

Prices: Datatrans, PayPal, Payrexx, PostFinance, Stripe, wallee, Worldline, saldiaPay, zahls.ch
Plugins for Shop Systems: Datatrans, PayPal, Payrexx, PostFinance, Stripe, wallee, Worldline, saldiaPay, zahls.ch
Payment Methods: Datatrans, PayPal, Payrexx, PostFinance, Stripe, wallee, Worldline, saldiaPay, zahls.ch

Legal

We assume no responsibility for the accuracy, completeness, timeliness, or quality of the data and information provided in this comparison article. In particular, it is important that online merchants obtain information on prices and any additional costs directly from the respective providers. Some providers also have additional unofficial offers and conditions that are not visible on the websites.

We expressly reserve the right to change the data or our entire offer provided in this comparison article at any time without special notice. We also reserve the right to supplement, delete, or cease publication of this comparison article at any time.

Status: February 2025.

Contact Information

Author: Melanie Frutiger, Payrexx AG
Email Address: melanie.frutiger@payrexx.com