Comparison of Swiss online payment providers for the year 2022

The largest payment service providers (PSP) for Swiss online shops as well as two smaller options are analyzed — namely Datatrans, PayPal, Payrexx, PostFinance, Stripe, wallee, Worldline and zahls.ch.

For this purpose, a few terms are first clarified, a cost analysis is carried out and then the individual providers are evaluated in detail. Finally, you will receive information on which payment service provider is best suited for you.

Online payments: Theory for understanding

To accept payments in an online shop, comerciantes need an acceptance contract with an acquirer and a processing contract concluded with a payment provider.

What is a Payment Service Provider (PSP)?

A payment provider, or Payment Service Provider in English, refers to companies that handle the technical connection of online payment methods to online shops. Instead of dealing with many individual contract partners, an online comerciante, once they choose a payment provider, only has to negotiate with this single provider to integrate the desired payment methods, such as Mastercard, Visa, PayPal, PostFinance and TWINT, into their shop.

What is a payment method provider?

A Payment Service Provider provides many external payment methods with which a transaction can be processed. Companies that offer this option themselves are referred to as payment providers. This can be in card form such as MasterCard and VISA or in wallet form such as Google Pay or TWINT.

What is an acquiring or acceptance contract?

In banking, acquiring is about acquiring contract partners who are willing to accept payments by credit card. The so-called acquiring bank is the credit institution that settles the card payments for merchants. Comerciantes can conclude an acceptance contract with acquirers, such as Worldline, Concardis or PostFinance, or with a payment facilitator such as Payrexx.

What is a Payment Facilitator?

A Payment Facilitator, also called a collecting PSP, is in direct contact with the comerciante and manages the merchant account with the acquirer. Thus, the Payment Facilitator can sign the acceptance contract on behalf of the acquirer and facilitates the setup of online payments because the comerciante has fewer direct relationships to maintain.

How do you choose the right provider?

Crucial for comerciantes is to keep costs as low as possible. In doing so, it is important to look at the setup and monthly costs, as well as the transaction fees. Furthermore, it should be clarified before making a decision which payment methods and tools are required for the online shop. Depending on the provider, all major payment methods* are supported and integrated tools are available. It is also of central importance for comerciantes and their customers that payment processing is secure. Compliance with PCI DSS Level 1 standards is significant here.

It is recommended to choose a payment provider that is also an acquirer or payment facilitator, so that comerciantes have a single point of contact for both. Other important points are the provider's customer support and the availability of plugins for well-known shop solutions.

Cost analysis

Online shops with a monthly turnover of 20’000 EUR

The cost analysis shows the monthly fees for smaller online shops with a commercial turnover of 20’000 EUR for 200 credit card transactions per month. This results in an average price of 100 EUR per purchase.

Price calculation

To carry out the cost analysis, the most favorable offers of each payment provider were selected for a commercial turnover of 20’000 EUR per month. The price details are mostly taken from the websites of the respective payment service providers.

Notes

Any setup costs are not included in the chart.

Up to a turnover of 5’000 EUR, transaction fees are included in Worldline's E-Commerce Large package. Transactions exceeding this volume are charged a percentage fee of 2 % and fixed costs of 0.1 EUR.

With Datatrans' Get-Started offer, additional acquiring costs apply. Since the percentage fee is not publicly visible, a value of 2 % was assumed (average of all other providers).

Conclusion: Costs for smaller online shops

The lowest fees are achieved with Payrexx, closely followed by wallee. With costs of 790 EUR, PayPal is the most expensive for online shops with this volume. The absolute price difference between Payrexx and PayPal is 421 EUR. Consequently, the costs at the cheapest payment provider Payrexx are more than 50 % lower than at the most expensive offer.

Online shops with a monthly turnover of 100’000 EUR

The cost analysis shows the monthly fees for medium-sized online shops with a commercial turnover of 100’000 EUR for 1’000 credit card transactions per month. The average value of a transaction thus yields 1’000 EUR.

Price calculation

To carry out the cost analysis, the most favorable offers of each payment provider were selected for a commercial turnover of 50’000 per month. The price details were mostly taken from the websites of the respective payment service providers.

Notes

Any setup costs are not included in the chart.

Up to a turnover of 5’000 EUR, transaction fees are included in Worldline's E-Commerce Large package. Transactions exceeding this volume are charged a percentage fee of 2 % and fixed costs of 0.1 EUR.

With Datatrans' Scale-Now offer, additional acquiring costs apply. The average value of the first chart was reduced by 0.5 %.

Conclusion: Costs for medium-sized online shops

Payrexx is the cheapest provider with costs of 1’549 EUR per month, followed by wallee. For medium-sized online shops, PayPal and Stripe are significantly more expensive than the other providers. Payrexx is 2’401 EUR cheaper than the most expensive provider PayPal, which makes a percentage price difference of 60 %.

No calculation was made for large online shops, as most payment providers do not publicly list special conditions for larger customers — this includes Datatrans, Payrexx, Stripe, wallee, Worldline and zahls.ch.

Overview table

If you run an online shop, it is of high importance that you can offer a variety of different payment methods. The table shows which payment provider provides which means. The most common means in Switzerland are listed.

In the second part, you can see which software you can use to build your shop. In addition to the well-known solutions, there are also some providers that provide their own shop system, the setup of which does not require programming skills. In the table, such offers can be found in the row "Integrated e-commerce tools". This tool enables the simple creation of a shop for products, vouchers, subscriptions or donations.

Finally, you will find an overview of the publicly available ratings of the companies on Google. The number of reviews, which can present a broader picture of opinions, is also important.

All payment providers in detail

Payrexx: Payment Facilitator with integrated e-commerce tools

Payrexx is both a payment provider and a payment facilitator and, as an all-in-one solution, represents a modern and user-friendly option thanks to its favorable pricing model and the number of payment interfaces and e-commerce tools. With its diverse tools, such as payment links, one-page shops with their own URL, virtual terminals, QR-pay and digital invoices, Payrexx meets the individual requirements of almost any comerciante. Payrexx is suitable for selling products, services, online tickets or vouchers as well as for collecting membership fees or conducting donation projects. Thanks to the 30-day trial phase, the platform can be tested for free. Payrexx has an average Google rating of 4.5 out of 5 stars with a total of 96 reviews.

Price overview of Payrexx

* Preferential conditions between 1.7 % and 1.3 %

What do the comerciantes need to do for the integration? Since every comerciante receives a payment website with its own internet address, neither integration nor programming skills are required. If you already have a shop, you can activate payment with one of the free plugins available. PostFinance Checkout All-in-One: a comprehensive e-payment solution. PostFinance enjoys high customer acceptance in Switzerland. PostFinance Checkout is a payment solution that offers all common payment methods (PostFinance E-Finance, PostFinance Card, TWINT as well as Visa and Mastercard) as well as various shop plugins. The prices listed below already include all costs for payment providers and acquiring, as no additional contracts are required. PostFinance also offers the option to test the provider for 30 days in a simulation mode.

Price overview of PostFinance Checkout All-in-one

What do the comerciantes need to do for the integration?

PostFinance Checkout is available to all companies based in Switzerland or the Principality of Liechtenstein that have a business account in EUR with PostFinance.

Worldline (formerly SIX Payments): Acquirer and payment provider

Worldline offers both acquirer and payment provider services and therefore usually provides the offers as a package. With the SIX goCard E-Commerce package, payments can be processed directly via a payment window. Transfers are possible in more than 20 currencies. Accordingly, the customer can choose relatively freely which currency they want to pay in. This is also because Worldline, like most other payment providers, provides the so-called dynamic currency conversion (DCC). Furthermore, Worldline offers various payment functions, such as subsequent debiting or the booking of partial amounts. Worldline has an average Google rating of 2.4 out of 5 stars with a total of 237 reviews.

Price overview of Worldline

Up to the selected turnover, transaction fees are included in the monthly fixed costs. All transactions exceeding this volume are charged according to the conditions in the last column.

What do the comerciantes need to do for the integration?

No programming skills are required. According to its own statement, SIX goCard is especially suitable for existing e-commerce solutions and static websites.

Datatrans: Provider with a lot of experience

Datatrans is the largest provider in Switzerland and can be integrated both as an external payment option (external payment window) and directly through an implementation (via API in the shop layout). With Datatrans Payment Pages, comerciantes have access to all payment methods with a single integration. Datatrans Secure Fields blend seamlessly into the design and help improve the conversion rate of comerciantes. Furthermore, this provider also offers the option to create a test account. Datatrans has an average Google rating of 4.9 out of 5 stars with a total of 14 reviews.

Price overview of Datatrans

The monthly costs and transaction fees are visible on the website, setup costs cannot be found there. In addition to the costs of Datatrans, external acquiring fees of about 2 % apply.

It is important to note that the minimum billing per month is EUR 290 (excluding external acquiring costs).

What do the comerciantes need to do for the integration?

Either you need developer skills or you implement a standard shop system. Since Datatrans is neither an acquirer nor a payment facilitator, comerciantes need acceptance contracts with other acquirers.

PayPal: an international payment provider

PayPal is an easy solution for shop operators, but costs more in the long run with larger order volumes. Payment links and email invoices as well as various plugins are available. According to its own statements, the payment facilitator PayPal has more than 240 million active users and offers the option to process payments in over 100 currencies. PayPal is not a Swiss company, but has offices in San José as well as in Luxembourg. Since PayPal is an international provider, a comerciante can choose the desired language from a variety of different languages. PayPal has an average Google rating of 1.8 out of 5 stars with a total of 6 reviews.

Price overview of PayPal Switzerland

PayPal does not charge a setup fee or monthly subscription costs. The costs per transaction amount to 3.4 % of the transaction volume and a 0.55 EUR transaction fee.

What do the comerciantes need to do for the integration?

To use PayPal, comerciantes must provide company details as well as a commercial register number. Developer skills are not required.

Stripe: Provider for developers

Stripe offers developer-friendly tools for connecting payment provider services to various web and mobile apps with a modern design. It enables credit card payments and also offers some other well-known payment methods, such as Alipay. Stripe, like Payrexx and PayPal, is a payment facilitator. Basically, this provider is particularly attractive for smaller online shops because of its prices.

Price overview of Stripe

Transaction fees are 2.9 % and 0.3 EUR per transaction. There are no one-time setup costs or fixed monthly fees. No additional fees are charged for refunds.

What do the comerciantes need to do for the integration?

The comerciantes must possess developer know-how for implementation. Furthermore, a valid photo ID and a company number are required for verification.

wallee: Omni-pay provider from Switzerland

Wallee is a Swiss payment provider based in Winterthur. Over 1’000 customers trust this company. Payments can be processed online either integrated on the website or via redirection. The templates can be modified as desired using a resource editor, and plugins for various shop systems are also available. A test mode is also available.

Price overview of wallee

What do the comerciantes need to do for the integration?

To use one of the many integrations, programming skills are necessary.

zahls.ch: New Swiss payment solution for the web

zahls.ch is a Swiss provider whose offer is structured very clearly. In addition to classic payments, e-commerce tools are also available. These include payment links, digital invoices, online terminals and a self-configurable payment page (small online shop). zahls.ch provides all Swiss payment methods and a large selection of foreign payment methods. zahls.ch has an average Google rating of 5 out of 5 stars with a total of 10 reviews.

Price overview of zahls.ch

What do the comerciantes need to do for the integration?

Programming skills are not necessary to use zahls.ch. On the contrary — you can easily create an online shop with the integrated tool. The verification process includes submitting a photo ID and, if available, registration in the commercial register.

Conclusion: Which payment provider is right for you?

Basically, it is recommended to start with cost-effective options and then respond to the needs of the customers and expand if necessary. For young and digital enterprises, Payrexx is suitable ahead of wallee, Worldline and Datatrans. The cost leader for medium-sized online shops is Payrexx, followed by wallee. PayPal, on the other hand, charges relatively high transaction fees, and Worldline involves expensive monthly fixed costs.

Of course, not only prices are to be considered, but also the range of functions and supporting services. The most diverse and useful tools are offered by Payrexx and zahls.ch.

With over 200 payment methods (by means of integrated External providers), Payrexx offers the widest range of payment options, followed by Datatrans with over 40 different payment methods.

In terms of simplicity of installation, PayPal, Payrexx and zahls.ch surpass the other payment providers. In general, Stripe is more comprehensive in its implementation than the other providers. For PostFinance, you need advanced developer skills to install the plugins.

The option to test the provider and its functions in a free phase is a great advantage for the comerciante, as this allows them to ensure that the payment provider meets their needs. Datatrans, Payrexx, PostFinance, wallee, Worldline and zahls.ch allow customers to test the provider.

Datatrans, PostFinance and Worldline have the most experience in the field of payment service providing.

In summary, it can be said that when choosing a payment provider, it is worth looking not only at the large and well-known providers, but also keeping an eye on the new digital payment providers. This is because they are often cheaper, yet still offer a variety of tools and can cater to the individual needs of each comerciante. For smaller and medium-sized shops, Payrexx and wallee are very well suited, whereas for larger companies, it may be worth looking around at the larger providers who have a lot of experience. Basically, Payrexx is clearly one of the frontrunners in the areas of price, diversity and simplicity.

Sources

Prices

Datatrans, PayPal, Payrexx, PostFinance, Stripe, wallee, Worldline, zahls.ch

Plugins for shop systems

Datatrans, PayPal, Payrexx, PostFinance, Stripe, wallee, Worldline, zahls.ch

Payment methods

Datatrans, PayPal, Payrexx, PostFinance, Stripe, wallee, Worldline, zahls.ch

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Author

Author & Author: Sven Otziger, Payrexx AG and Priscilla Wyss, formerly of Payrexx AG