Guide: How to choose your payment service provider?

Some cross-cutting criteria to consider

Before examining the players in the field, there are a few points to keep in mind.

1. The pricing model

The true cost is not limited to the commission. The following must always be included:

• Fixed fees per transaction (often €0.25 to €0.30)
• Fees on reimbursements
• Chargeback fees (often €15 to €25 per dispute)
• Fixed monthly fees if applicable
• Cost of currency conversions

On a volume of €500,000 per year, a 0.3% difference in commission represents €1,500 annually. The transfer time (same day vs. 7 days) for this same volume can represent a significant short-term cash flow requirement.

2. Approval and control of the value chain

A payment service provider that outsources acquiring to a third party introduces a risk of dependency and potentially additional costs. An institution that controls its own supply chain (EME accreditation) offers greater stability and control over collection times and conditions.

3. Post-payment processing

A payment service provider (PSP) that collects payments but doesn’t provide the data necessary for automatic reconciliation (order reference, customer ID, real-time status, ERP-compatible export) generates invisible operational overhead. This point needs to be assessed before signing a contract with a provider.

4. Resilience and security

Check contractual availability (SLA), the existence of a tested Business Continuity Plan (BCP), PCI DSS level 1 certification, and DORA compliance for providers subject to this European regulation since January 2025.

5. Support and guidance

International generalist PSPs offer standardized support. Below a certain volume, you don’t have a dedicated contact person. In the event of a payment incident or account closure, the lack of a named contact can have direct consequences on your revenue.

Which e-commerce payment service provider?

69% of shopping carts are abandoned online². The payment page is a point of failure directly measurable in terms of revenue. Priority criteria vary depending on whether you sell only in France or internationally.

Actors involved:

The choice of PSP will mainly depend on the desired integration: direct or via a CMS for example.

Stripe is the technical benchmark. Its API is the most documented on the market. Recommended for proprietary development, SaaS platforms, and international e-commerce businesses. Less suitable if your sales volume is concentrated in France and you lack internal technical resources.

Mollie stands out for its multi-country European coverage. Its mixed pricing absorbs interchange fluctuations. It is less suited to the French market alone, and its support for France is limited.

Payplug is positioned to serve French SMEs. Commission on French cards: 1.2% according to available comparisons. Responsive French-speaking support. Native CMS plugins (Shopify, PrestaShop, WooCommerce, Magento). Suitable for B2C e-commerce businesses without international operations.

Worldline remains dominant with major French accounts, handling significant volumes and employing a negotiated contract model. It is less accessible to medium-sized businesses.

Questions to ask yourself:

• What percentage of my clients pay from abroad?
• Do I need alternative payment methods (Apple Pay, Google Pay, Pay by Bank)?
• Is my sector of activity accepted without restriction (low-risk, mid-risk, high-risk)?
• Can my technical team handle a complex API integration?
• How important is customer service to me?

Which service provider is best for marketplaces and third-party payment processing?

A marketplace that collects payments on behalf of third-party sellers is not simply connecting buyers and sellers. It operates a regulated business that requires either its own authorization or the use of a payment service provider with the appropriate authorization.

Under French law (Monetary and Financial Code), collecting payments on behalf of third parties without authorization is subject to criminal penalties. EME or EP authorization issued by the ACPR is a prerequisite for operating legally.

Specialized service providers:

Mangopay is a major player for medium to large European marketplaces. Created in 2013 and acquired by Advent International, its infrastructure is modular.

Stripe Connect is a viable option for marketplaces, especially if the technical ecosystem is already built on Stripe. Onboarding is quick, but documentation requirements increase with volume. It’s less suitable for use cases with strict requirements across numerous sub-merchants.

Lemonway specializes in complex marketplaces. A French company with a positioning closely aligned with local regulatory constraints.

Questions to ask yourself:

• How many active sub-dealers do you have or plan to have?
• What is the average volume per sub-merchant?
• Do you need a fully white-label KYC/KYB process?
• What is your standard payment timeframe to sellers?
• Do you need to keep the funds in a segregated account?

Which provider should I choose for recurring payments and subscriptions?

For a SaaS model or a subscription service with thousands of active customers, the choice between card payments and SEPA direct debits is strategic. Bank cards have a success rate of approximately 85% for recurring payments, due to expiration, exceeding spending limits, or card cancellations. Automatic SEPA direct debits reach 97.5%.

Specialists in recurring payments:

GoCardless is the benchmark in this segment. Competitive pricing for large amounts. Limitations: a 5-6 business day delay between initiation and receipt of funds, and no card payment option. An additional payment service provider (PSP) is often required for initial payments or for customers without an active mandate.

SlimPay focuses on the subscription economy, with an approach that combines SEPA direct debit and Open Banking. It’s relevant for B2C subscription providers and businesses that want to digitize their recurring billing.

Questions to ask yourself:

• Are my clients mostly B2C (card often preferred) or B2B (bank transfer/direct debit more natural)?
• Does my model support a 5-6 day delay on payments?
• Do I need to manage SEPA mandates (signing, updating, revocation)?
• Can I combine a subscription and a one-time purchase on the same platform?

Which service provider is best for remote invoice collection and payment?

The majority of companies still receive their B2B transfers through their traditional bank. While the apparent cost is negligible, the real cost is high: manual reconciliation, lack of instant payer identification, processing delays, and no possibility of automation towards the information system.

PSPs specializing in this segment enter through a specific pain point (card payment links, online bill payment) to then upsell on automation.

Actors to consider:

Payment service provider with native automation (CentralPay, Swan, xPollens), meaning platforms that handle card payment links, SEPA transfers with dedicated IBANs and automatic reconciliation to the ERP system, SEPA direct debits, and Pay by Bank. This profile is aimed at CFOs who want to reduce the workload of their finance teams without multiplying the number of tools they use.

A next-generation accounting tool (Pennylane, Agicap, Upflow) that integrates payment modules but is not a payment service provider (PSP). It is suitable if the need is focused on financial management and payment volumes are modest.

A traditional bank whose seemingly free transfer service masks the absence of any value-added services. No APIs, no automation, no instant identification. The real cost is measured in human time.

Questions to ask yourself:

• How many invoices do you process per month and how many require manual follow-up?
• Is your ERP capable of receiving payment events in real time?
• Do you need to handle card, bank transfer and direct debit from a single interface?
• What is your average customer payment time, and what improvements are you looking to make?

Which service provider is best for the mid-risk and high-risk sectors?

So-called “sensitive” sectors (dating, gambling, dietary supplements, and certain pharmaceuticals) are systematically filtered by general payment service providers. Some businesses may find themselves without card payment options or have their services terminated without notice.

Before entering into any contractual agreement with a payment service provider, verify that your business activity is explicitly accepted in the terms and conditions, and not simply “not mentioned.” The distinction is important: contractual silence does not constitute acceptance.

Some mid/high-risk specialized payment service providers (PSPs) operate in this segment but with significantly higher pricing models (commissions can exceed 3 to 5%). Other generalist players accept these sectors subject to minimum volume requirements and after an audit of the merchant site.

CentralPay, a versatile payment service provider

CentralPay is a payment service provider, approved as an EME by the ACPR, which allows it to operate the entire payment chain in-house.

Its positioning covers several use cases, from the simplest to the most complex, with a single platform: multi-method collection (card, SEPA transfer with virtual IBAN, SEPA direct debit, Pay by Bank, Apple Pay…), marketplace flow management (KYC/KYB, split payment, automated payouts), and post-payment automation (reconciliation with ERP, workflows, notifications).

CentralPay is particularly suitable for:

• Mid-market e-commerce merchants looking to cover card and SEPA payments from a single interface
• Companies with remote invoicing that want to automate reconciliation and reduce manual operations for their finance teams
• Marketplaces that require EME approval
• Recurring payment and subscription, by card or SEPA direct debit
• Mid-risk sectors that are encountering restrictions from generalist PSPs

Summary: Which payment service provider is right for my business?

The right payment service provider is one whose constraints align with yours.

Three questions should guide your choice:

1. Is your model technically compatible? (APIs, plugins, existing ERP/CRM integrations)
2. Is your activity unambiguously accepted? (sector, geography, minimum volume)
3. Do the related services cover your use case? (reconciliation, payout, KYC, segregation)

A poor initial choice is costly to correct. A structured analysis beforehand, including soliciting several payment providers with an identical brief, remains the best investment before signing.

Sources:

¹ EcommerceMag, 2025

² Statista, 2026

³ GoCardless, 2025