|Sales & Marketing|
|Costs & Contract|
|Complaints & Service|
Paymill (paymill.com) is a European online merchant account provider similar to the U.S. company Stripe. The company serves merchants and online businesses in over 30 European countries; however, it does not offer services in the U.S. or Canada. Launched in 2012, Paymill primarily caters to small e-commerce businesses, offering secure, fixed-price credit card processing via the web. Paymill is owned by Paymill GmbH and is headquartered at St.-Cajetan-Straße 43, 81669 Munich, Germany. Mark Henkel is listed as the CEO of Paymill.
|Paymill Products and Services||Industries Served|
|Key Points – Sales & Marketing|
|Uses independent resellers?||No|
|Promotes deceptive rate quotes?||No|
|Discloses all important terms?||Yes|
Paymill appears to primarily market itself through its website and traditional advertising. There is currently no evidence that the company employs independent sales agents, and we are unable to locate any negative Paymill reviews that accuse its sales staff of unethical behavior. Additionally, the company does not appear to engage in deceptive advertising strategies in its official materials. The company’s pricing is clearly displayed and easy to understand.
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|Key Points – Costs & Contract Terms|
|Swiped rate:||2.95% + 0.28€|
|Keyed-in rate:||2.95% + 0.28€|
|PCI compliance fee:||None|
The standard Paymill merchant agreement (available below) appears to be an indefinite term with no monthly costs or recurring fees. The company does not charge an early termination fee or any PCI Compliance fees, but it does advertise a chargeback fee of 18.75€. The Paymill website promotes a standard rate of 2.95% plus 0.28€ (3.95% plus 0.28€ for American Express), but an asterisk points the reader to a disclosure that this price is an average value for small traders across all countries. Certain countries will pay 3.25% for each transaction. It does not seem as if this rate quote is misleading, and we are unable to locate any complaints that mention dissatisfaction with Paymill’s pricing at this time.
We have seen one complaint in the comment section of this review related to Paymill’s processing bank for international payments, Wirecard Bank. The merchant claims that Wirecard charges large conversion fees for foreign currencies in addition to higher-than-average per-transaction fees. Another complainant cites Paymill’s refusal to process payments for their business type as a negative point in the company’s favor, but it doesn’t appear as though any real financial loss was suffered by the merchant. Overall, Paymill shapes up to be a low-risk, highly adaptable online payment option for its price.
|Key Points – Complaints & Service|
|Live customer support:||Yes|
|Most common complaint:||N/A|
We are currently unable to locate any Paymill complaints that accuse the company of being a scam or a ripoff. The only two complaints about the company that we have found were located in the comment section of this review, and they have been addressed in the section above. In fact, most reviews of Paymill appear to be positive testimonials praising the service’s easy integration and helpful customer support. The company’s website provides contact information for a dedicated support email address and a phone line, and these channels of communication appear to do a more-than-adequate job of resolving merchant issues.
As of this review, Paymill is not an accredited business with the Better Business Bureau, nor does it have a current BBB rating. This is due to its location in Europe. We will therefore not factor a BBB score into the company’s overall rating.
This review was originally published on 2/12/13 and was last updated on 4/13/15.
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