1. Online Payments: Understanding Theory

To accept payments in an online shop, merchants need 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 service provider (PSP) (see Chapter 1.1).

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

1.1 What is a Payment Service Provider?

A payment service 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 individually with each financial institution and integrating payment methods separately into their shop, online merchants (also known as merchants) can work directly with a PSP. This gives them access to all the desired payment methods, integration systems, and e-commerce tools while also fulfilling 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. However, in some cases, merchants additionally 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 Service Provider (PSP)

1.2 What is an Acquirer and an Acceptance Contract?

An acquirer (also known as 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 requires an acceptance contract. This contract regulates the acceptance and processing of card payments and sets 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, conclude 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 into an online shop with just one contract – such as Visa, Mastercard, TWINT, PostFinance, and Reka. 

Functionality of a Payment Facilitator (PF)

In addition to these two basic models, there are further mixed forms, which are not explained in detail 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:

• Which payment methods should be offered? A diverse range of payment options increases customer satisfaction and conversion rate. Merchants should therefore determine which payment methods are preferred by their clientele. Not all providers support the same payment methods – particularly for regionally popular options such as TWINT or PostFinance Pay, selecting the right provider is crucial.

• Which shop system is used? The technical integration of a payment provider can be made easier by pre-configured plugins¹. For well-known systems like Shopify or WooCommerce, most providers offer ready-to-use plugins for easy integration. For custom-developed shops, flexible API solutions can be found with some providers.

• Which tools are needed? The functionalities of a payment provider should match the requirements of the shop. While some providers offer specialized 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 incurred? In addition to transaction fees, potential monthly fixed costs, setup fees, and additional costs for special features should be considered. This helps avoid unexpected expenses.

• Which target audience is addressed? Depending on the clientele, different payment methods are relevant – young consumers often expect wallet solutions, while companies or international customers benefit from fast and cost-effective alternatives like instant payments. Instant payment (also known as Pay by Bank) enables direct bank transfers in real-time, saving fees particularly in international payment transactions. Currently, Payrexx is the only provider in Switzerland offering Pay by Bank.

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

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

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

3. Overview of 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. Additionally, the table provides information on which providers offer plugins for common shop systems.

Some payment providers also offer their own very basic shop systems, allowing a small online shop for products, vouchers, subscriptions, or donations to be created without programming knowledge. These solutions are listed in the table as "E-Commerce Tools."

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

Function Matrix of Various Payment Providers

4. Cost Analysis

This section calculated the monthly costs (subscription and transaction fees) for the different providers. The analysis was conducted for two example online shops: one with a sales volume of 20,000 EUR and one with 100,000 EUR.

For the calculation, the cheapest offers from the individual payment providers for the respective sales volume were selected. The price information comes from the websites of the respective payment service providers. Any setup fees are not considered in the chart.

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 sales volume of 20,000 EUR for 200 credit card transactions per month. The average value of a transaction is thus 100 EUR per purchase.

Monthly Costs with a Turnover of 20,000 EUR (Excluding 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.

Additionally, Payrexx offers exclusive discounts to startups and non-profit organizations: 30 percent for startups and 50 percent for non-profit organizations on all subscriptions.

¹With the offer from Datatrans, a separate acquiring contract must also be concluded. Therefore, the cost of acquiring depends on the choice of acquirer). Therefore, a value of 1.7 percent was 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 sales volume 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 (Excluding 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 savings of over 60 percent.

No calculation was carried out for large online shops with a turnover of more than 100,000 EUR per month. Many payment providers offer individual special conditions for larger customers – including Datatrans, Payrexx, Stripe, wallee, Worldline, and zahls.ch.

5. All Payment Providers in Detail

5.1 Payrexx

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

The provider is characterized by its simple 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, which can be used not only with TWINT but with all desired payment methods.

Payrexx convinces with low fees as well as discounts for startups and non-profit organizations. All functions of Payrexx can be tested for 30 days free of charge. The average Google rating is 4 out of 5 stars based on 144 reviews.

5.1.1 Price Overview of Payrexx

¹The Free subscription from Payrexx does not include plugins and API connectivity.

5.1.2 Additional Notes

Thanks to the comprehensive offering, Payrexx provides an attractive solution away from the large, often expensive providers. The Swiss company is characterized by flexibility, personal support, and specialization in SME merchants. In this way, Payrexx stands out from global mass solutions. Merchants require a valid photo ID, an address confirmation document, and the trade register entry for registration with this provider. Those who register before 4 p.m. will be reviewed 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 payment methods (PostFinance Pay, TWINT, as well as Visa and Mastercard) and also provides several free shop plugins for integration into well-known shop systems.

It is particularly noteworthy for its direct connection to the Swiss banking system and high customer acceptance, making it especially suitable for companies primarily active domestically.

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

5.2.1 Price Overview of PostFinance

5.2.2 Additional Notes

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 payment. The 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, usually presenting its offers in packages tailored to the specific application case. With the Worldline e-commerce package, payments can be accepted in the online shop without monthly fixed costs.

As a global payment solution provider, Worldline stands out due to years of experience and comprehensive services. Particularly for larger companies, the provider offers a scalable solution with a wide variety of payment methods. Additionally, Worldline specializes in dynamic currency conversion, allowing foreign customers to pay in their own currency easily.

For simple integration, Worldline provides numerous free and paid plugins. Furthermore, larger companies benefit from additional services and extensive reporting tools. Worldline has an average Google rating of 2.9 out of 5 stars based on 589 reviews.

5.3.1 Price Overview of Worldline

5.3.2 Additional Notes

Medium and larger companies as well as omnichannel solutions require an individualized offer, which cannot be ordered online. To find the appropriate package, it is recommended to contact the Worldline sales team directly.

5.4 Datatrans (planet)

Datatrans is a well-established payment service provider that is particularly suitable for larger companies and those with high transaction volumes. The platform offers a wide variety of payment methods as well as free and paid plugins for shop systems like WooCommerce, Shopify, and Magento. Particularly for companies with more complex requirements, Datatrans offers a customized solution.

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

Once an acquiring 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 based on 22 reviews.

5.4.1 Price Overview of Datatrans

5.4.2 Additional Notes

As Datatrans is neither an acquirer nor a payment facilitator, merchants additionally require an acceptance contract with a separate acquirer. To include this factor, a fee of 1.7 percent was used in this analysis. This is an assumption value derived from the average of the rest of the providers. However, the transaction fee may vary depending on the chosen acquirer.

5.5 PayPal

PayPal is a globally recognized, simple, and standardized solution for online merchants. The provider enables the acceptance of payments in various currencies and offers a high level of security, particularly for international transactions.

With over 400 million users and high acceptance, PayPal is particularly suitable for companies looking to address a large number of international customers. The platform supports a wide variety of payment methods, including credit cards, Apple Pay, Venmo, and many more. PayPal also offers several free plugins for common e-commerce systems like WooCommerce, Magento, and Shopware. In addition, 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 based on 618 reviews.

5.5.1 Price Overview of PayPal

5.5.2 Additional Notes

Setting up PayPal is very easy. Merchants only need to provide their company information and trade register number. Large companies can also request special conditions for a scalable solution from PayPal.

5.6 Stripe

Stripe is a well-known and flexible payment solution, especially aimed at developers seeking a highly customizable 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 startups and larger companies with an international orientation. The solution can be seamlessly integrated into common e-commerce platforms like WooCommerce and Shopify. Alongside numerous free plugins, Stripe also offers paid extensions.

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

5.6.1 Price Overview of Stripe

5.6.2 Additional Notes

Merchants should have developer knowledge for the implementation of Stripe. Additionally, a valid photo ID and trade register number are required for verification. Stripe also offers special conditions for large companies, which can be requested from sales.

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 provides API integration. The modular architecture enables companies to select only the functions they truly need. This flexibility makes this provider an excellent choice for medium to large companies with specific requirements for their payment solution.

Online merchants can extensively try wallee in a free test mode. The platform has been rated on Google with an average of 3.5 out of 5 stars based on 112 reviews.

5.7.1 Price Overview of wallee

5.7.2 Additional Notes

To use one of the many integrations from wallee, merchants usually need to perform a few technical steps. This includes setting up a wallee plugin for their shop system or direct API connection.

5.8 saldiaPay

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

A unique feature of saldiaPay are 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 easily created.

saldiaPay also provides free plugins for popular shop systems like WooCommerce and Shopware. All features of the platform can be tested free of charge for 30 days. saldiaPay has an average Google rating of 4.7 out of 5 stars based on 38 reviews.

5.8.1 Price Overview of saldiaPay

5.8.2 Additional Notes

Besides the wide range of integrated plugins and shop systems, saldiaPay offers many other webshop integrations upon request. For registration, merchants need a photo ID and, if available, the trade register entry.

5.9 zahls.ch

zahls.ch is a Swiss payment provider that stands out for particularly transparent and simple pricing. With zahls.ch, merchants can accept a wide range 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 popular shop systems and scores with easy setup and integration.

zahls.ch enjoys an average rating of 5 out of 5 stars, though it has only been rated three times on Google.

5.9.1 Price Overview of zahls.ch

5.9.2 Additional Notes

Using the integrated tools from zahls.ch, merchants can easily create their own online shop, or they can connect the provider directly to their existing online shop. For the verification process, a valid photo ID and, if available, the trade register entry are required.

Conclusion: Which is the Right Payment Provider?

Before online merchants decide on a payment provider, they should clearly define the specific requirements of their online shop. Apart from costs, the functionality, supported shop systems, and offered payment methods play a crucial role.

For young, digital companies, Payrexx could 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 comparatively high transaction fees, while Datatrans incurs high monthly fixed costs. Each provider offers a free trial period to find the best solution.

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

Another important aspect is the selection of payment options. 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 Co. Here, Swiss providers such as Payrexx, Datatrans, saldiaPay, or zahls.ch have an advantage. On the other hand, those addressing many international customers benefit from global providers like PayPal or Stripe.

Regarding easy integration, PayPal, Payrexx, and zahls.ch are particularly convincing, while Stripe, Worldline, and Datatrans offer more customization options. Since the setup requires a high level of technical know-how with some providers, this point should also be considered in the selection.

In summary, it is worthwhile considering newer and lesser-known providers. They often offer price-attractive and powerful payment solutions and can better cater to the individual needs of merchants. Payrexx and wallee are a good choice for small and medium-sized shops, while a more established provider may be more worthwhile for larger companies. In terms of price, functionality, and user-friendliness, Payrexx clearly ranks among the top contenders.

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 Information

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

We expressly reserve the right to change the data provided in this comparison article or our entire offer at any time without prior notice. Similarly, we are entitled to supplement, delete, or temporarily or permanently discontinue the publication of this comparison article at any time.

Status: February 2025.

Contact Information

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