How do I choose the best payment module to my website?

The answer to which payment module is best for you depends on your needs now and in the foreseeable future. A payment module provider is also called a PSP (Payment Service Provider).

It is worth the time to use a bit of effort to choose your payment module, so you are sure that you choose a supplier that not only supports your needs now but also in the future.

The price must be coupled with your wishes and capabilities – sometimes it is best to put together your own package, while other times it is better to pay more per transaction and  you get an “all inclusive” solution that you do not have to worry about .

I will not include “complete solutions”, with website and payment solution in one; a la Shopify and Dandomain!

First and foremost, you need to know the following:

  1. How many transactions do you have today and what are your estimates for the next couple of years?
  2. Which countries are you launching in and which countries are on the plan for the next couple of years?

With that in mind, you can make a list of relevant PSPs based on the following criteria:

  1. PSP Geography. There are payment modules that do not have offices in Denmark but offer good solutions. Stripe and Adyen are two of them. They have good solutions, but you will not be able to get support in Danish and you will not have the opportunity to go to their office and talk to them. Perhaps it does not matter at all, but it’s worth taking an active decision.
  2. Your geography. Does the PSP support the forms of payment you want to offer in the countries you launch in? Most support the most common forms of payment in Europe, but if you sell outside Europe, you need to be more careful. Do you want to offer payment with MobilePay, Klarna, PayTrail, Swish, Vipps, ApplePay or something else make sure they offer it. If you are not sure what payment forms to request, perhaps my blog post on that issue can help you.
  3. IT development. Are your developers sitting next to you or do you have to pay an external agency every time you want to make changes? If you are going to pay an agency for every line changed, ask ehtm what kind of experience they have with integration to PSPs. It may be cheaper to make an integration to a payment module they already know. This, of course, also applies if your IT development sits at the desk next to you, but here it is probably easier to be creative, make a mistake and change your mind without it costing you an arm a leg.
  4. Webshop platform. Have you created your webshop in eg. Magento, Prestashop, Woocommerce or another module, then check which the payment module it’s possible to connect to your solution. Also check to make sure the integration supports the payment methods you have chosen – can you, for example, connect Klarna to support your sale in Sweden or accept PayPal transactions in Germany and Ideal in Holland? There is no reason to choose a payment module that requires you to change your entire webshop or give up using payment forms you would like to offer your customers.
  5. Data. What data do you want access to? Some modules offer very advanced options to download data that you can analyze as you wish – others have good built-in colorful graphs where you can compare sales last week with this week but not much else . What do you – realistically – need?
  6. Support. How important is support for you? Some PSPers have a very good service, others not so good. Check out the reviews of the modules you are considering and speak with references.
  7. Security. Some modules are certified to store credit card data and others are “re-sellers” of others’ certified solution. Common to them, however, is that they should be able to provide you with a so-called “Attestation of Compliances” or AOC *, it is the certificate that proves that your payments are being handled by a supplier that has the correct certifications in place. Always ask for your AOC to be submitted before considering an agreement with them. Below in the schedule I have entered what it was possible to find about the individual supplier.

Then there is of course price. An inexpensive solution can be expensive if you pay in problems and lack of sales when it does not support what you need – BUT, of course, it’s a good idea to compare prices for the modules you are considering. Often, the PSP has several solutions, for example DIBS an “all inclusive” solution which also includes credit card acquiring, but they also have an option where you can choose between different packages.

It’s a good idea to start by putting together a list based on what you can Google and read on the supplier’s websites. Once you have a “top 3” then talk with them, compare facts and listen to your stomach. Are they easy to get in touch with and solution-oriented? Then there’s a good chance that it’s also what you want to meet after you’ve chosen them and signed an agreement.

And one last advice – no matter how optimistic you are with regards to your sale for the next 24 months, do not go “all in” on the luxury solution! Choose a solution that suits your needs today and tomorrow, then you can upgrade later on as your needs become more advanced. It will save you a lot of money in the long run to have a solution that matches your needs and grows up with you, rather than paying for the luxury model from day one and thus pay for a solution that you first utilize to the fullest 2 years later.

List of payment modules / PSPs covering Denmark (not necessarily exhaustive):

Name of supplier Sale and support from PCI approval/documentation**
Adyen Holland The MasterCard compliant list, page 2
Visa Member Agent List, page 2
Valitor Søborg Visa Member Agent List, page 2
Bambora (ePay) Aalborg Visa Europe Merchant Agent List, page 5
The MasterCard compliant list, page 4
DIBS Ørestad Visa Europe Merchant Agent List, page 8
The MasterCard compliant list, page 10
Visa Member Agent List, page 8
FreePay Viborg Visa Europe Merchant Agent List, page 12
Gate2payments Copenhagen
Netaxept Ballerup Visa Member Agent List, page 22
PayEx Copenhagen Visa Europe Merchant Agent List, page 20
Visa Member Agent List, page 23
PensoPay Vejle
QuickPay Aarhus Visa Europe Merchant Agent List, page 22
MasterCard registering page 29
Reepay Copenhagen Reepays AOC
ScanNet Skanderborg Visa Europe Merchant Agent List, page 30 (Zitcom)
ScanPay Kongens Lyngby
Stripe Holland Visa Member Agent List, page 31
YourPay Tåstrup
Wannafind Skanderborg Visa Europe Merchant Agent List, page 30 (Zitcom)
The MasterCard compliant list, page 40
Worldline Sverige Visa Europe Merchant Agent List,  page 9
Visa Member Agent List, page 10

The above Visa links are from February 2018 – they generate a new lists each month. You can find the updated here. On MasterCard links you will be taken to a page where you will need to download the latest list at any time.

* To learn more about AOC, PCI DSS Level 1 mm, you can read here: https://www.pcisecuritystandards.org/

** If the field is empty, it may be a re-seller and therefore there is no need for direct certification (ie, they are using an approved PSP as a “white label” solution).