Germany is a significant player in the global e-commerce landscape, with 50% of international shoppers placing orders from foreign websites. Fueled by a tech-savvy population and a vast consumer base, Germany’s online market is experiencing robust growth. Experts even predict that it will become Europe’s largest e-commerce sector by 2027, generating an estimated $211 billion in revenue during that period.
To seize this opportunity, merchants must integrate payment gateways that support local German as well as global payment methods. Offering customers a variety of payment options can lead to increased customer retention and repeat business. This blog outlines the 12 most reliable payment gateways in Germany that you need to be aware of. Additionally, it provides a guide to help you select the best payment gateway that suits your specific merchant needs.
The Current Payment Solution Landscape in Germany
Traditionally, Germans favored cash for transactions, but this has been changing, especially after the COVID-19 pandemic. Payment methods such as debit/credit cards, digital wallets, bank transfers, direct debit, and open invoices have gained popularity, reducing the reliance on cash for purchases. As these payment methods continue to gain market share, the payment solution landscape in Germany is evolving. Online merchants need to adapt by integrating the best payment gateways to meet customers’ changing needs and gain a competitive edge.
Choosing the Best Payment Gateway in Germany: Key Criteria
When selecting a payment gateway in Germany, there are essential criteria to consider:
Reliability: A reliable payment gateway is critical for a seamless customer experience. Ensure that the payment gateway has a track record of reliability by checking customer reviews, speaking to previous users, and assessing its transaction approval rate and customer support accessibility.
Supported Currencies: Look for a payment gateway that supports multiple currencies to accommodate international expansion. This flexibility can be vital as your business grows.
Payment Options/Methods: Provide your customers with a range of popular domestic and international payment methods to simplify their checkout experience. A diverse gateway service can make a significant difference in retaining valuable clients.
Market Integrations: Integration capabilities are crucial to avoid tech stack issues and communication gaps between processes. Research popular integrations with platforms like Storefront, WooCommerce, Shopify, BigCommerce, Salesforce, and Microsoft 365 to ensure compatibility.
Security: Security is paramount when choosing a payment gateway. Opt for a gateway that adheres to the latest security protocols to guarantee secure transactions for your customers.
Pricing and Other Fees: Consider the pricing structure and fees associated with the payment gateway. These costs can impact your bottom line, so inquire about setup fees, monthly fees, annual maintenance charges, transaction fees, and chargeback fees.
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The Top 12 Payment Gateways in Germany
Stripe: A reliable international payment gateway with support for a wide range of payment methods, including credit cards and digital wallets.
Worldline: A comprehensive solution with support for 150+ payment methods and robust fraud management tools.
Adyen: An end-to-end payment solution with a simple pricing structure, making it easier for merchants to accept payments from around the world.
Checkout: A user-friendly payment gateway supporting numerous payment methods and providing a smooth checkout experience.
GoCardless: A versatile payment gateway for collecting one-off, instant, and recurring payments without excessive transaction fees.
Worldpay: A global payment solution that optimizes the checkout experience and supports over 300 payment methods.
BlueSnap: An online payments platform offering a wide range of payment methods, fraud prevention tools, and shopping cart integrations.
Authorize.net: A secure and reliable gateway that supports traditional payment methods, digital wallets, and e-checks.
Skrill: An instant and secure payment solution that allows businesses to accept payments from customers worldwide.
Cybersource: A fast and secure payment gateway offering support for various payment methods, including digital wallets.
Klarna Payments: An easy-to-use payment solution that enables customers to pay in installments, enhancing sales and convenience.
Paymill: A secure payment gateway crafted in Germany, supporting credit card payments and other payment methods for global scalability.
The Challenge with Local Payment Gateways
While Germany offers numerous local payment gateways, relying solely on them can limit your business to the local market. It may also lead to unexpected fees, downtimes, or changes in pricing, affecting the customer experience. To address this challenge and expand internationally, consider the integration of multiple payment gateways.
How Web Technology Expert Can Help You Integrate Multiple Payment Gateways
Web Technology Expert is a global payment aggregation and integration platform that enables businesses to offer over 300 payment methods via 30+ payment gateways across 190+ countries. With Web Technology Expert, geographical constraints are no longer a barrier. You can expand your business to various countries, ensuring 24/7 uptime and a seamless customer experience. By integrating with multiple payment gateways through Web Technology Expert, you can offer more payment methods in Germany, improving conversion rates and success rates.
Choose the right payment gateway that aligns with your business objectives and provides a smooth experience for your customers in Germany and beyond.