Paymill Review

2 Replies

Credit Card Processors
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Paymill Overall Rating

"A+" Credit Card Processor Rating
Last Updated: February 3, 2014
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Paymill Overview

Paymill Logo

Paymill Logo

Paymill ( is a European online merchant account provider similar to the U.S. company Stripe. The company serves merchants and online businesses in 25 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. The company also allows merchants to accept payments in 100 currencies, and as of this update, Paymill clients may take advantage of a newly launched automated invoicing service. Paymill is owned by Paymill GmbH in Munich, Germany.

Paymill Sales & Marketing Tactics | A+

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.

Paymill Costs & Contract Terms | A+

The standard Paymill merchant agreement appears to be an automatically renewing 12-month term with no monthly costs or recurring fees. The company does not appear to charge an early termination fee or 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€ on all transactions, but an asterisk points the reader to a disclosure that this price is an average value for small traders across all countries. 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 contract terms at this time.

Paymill Complaints & Service | A+

We are currently unable to locate any Paymill complaints that accuse the company of being a scam or a ripoff. In fact, the only available 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.

Paymill BBB Report | N/A

As of this review, Paymill is not an accredited business with the Better Business Bureau (BBB), nor does it have a current BBB rating. This is due to its location in Europe. We will not factor a BBB score into the company’s overall rating.

Bottom Line

Paymill rates as a reliable merchant services provider according to our rating system. The company is showing zero online complaints and appears to offer transparent, competitive contract terms. Paymill’s focus on easy software integration also offers an added value that merchants may find appealing. Even when dealing with highly rated payment processors, merchants are advised to read all contract terms with great care.

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  1. muacan

    Paymill is a great payment system for any developer and/or startup.

    However, if you are accepting payments in another currency than euro, their partner bank Wirecard Bank is not nice and will get you the worse rates. Also never forget-at least in some countries- they will make the payment in Euro not in your currency and due to converting your local currency to Euro with a bad rate, and then sending you Euro, than converting again you make a loss of about 5-10%.

    Adding to that, wirecard bank’s transparency is very bad. For example, in our last payment they paid 16,5% less than they declared, citing the intermediary bank costs as reason. However, their agreement states that the bank will only get 2.95%. The reason for the extra 16,5% fees? Still waiting an answer.

    Hope to live in a world were we loose the greedy banking system with hidden fees and bad transparency.

  2. Nikoletta Ven

    Dear Mr. Parker,

    The information listed above is not showing the real service rating/review of Paymill.

    I have bad experience with them, because they have published misleading information about the business models they support and my project wasted time and money due to their unprofessional attitude. I cannot agree that a ¨reliable¨ payment provider with ¨transparent terms¨ will put off its clients with empty promises, or will reject an application without giving clear explanations for that.
    The contract manager of Paymill just sent me an email with this standpoint ¨We regret that we cannot disclose specific details on the evaluation process.¨


    Nikoletta V.

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