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 its own payment gateway or through an integration with PayPal. 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
- Debit and credit card processing
- Online payment gateway
- Integration with third-party services
- Sales reporting
- Customizable checkout
- International payment acceptance
Sales & Marketing
Key Points - Sales & Marketing
|Employs Independent Resellers||No|
|Advertises Deceptive Rates||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.
Paymill Marketing Example
Costs & Contract
Key Points - Costs & Contract
|Swiped Rate||2.95% + 0.28€|
|Keyed-in Rate||2.95% + 0.28€|
|Early Termination Fee||None|
|PCI Compliance Fee||None|
|Equipment Lease Terms||Variable|
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. See the Paymill Terms and Conditions.
Complaints & Service
Key Points - Complaints & Service
|Total Online Complaints||<10|
|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 three complaints about the company that we have found were located in the comment section of this review, and two of them have been addressed in the section above. The third complaint appears to involve a merchant having their account shut down due to a risk assessment by Paymill’s internal risk department. It’s hard to know the facts in cases like this, so we will not weigh it too heavily for or against Paymill. 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 European location. We will therefore not factor a BBB score into the company’s overall rating.
About Phillip Parker
Hi, I’m Phillip and I’m disgusted by the state of credit card processing in the U.S. and abroad. I believe that the industry has been overrun by people who engage in fraud and deception in order to steal money from hard working business owners. I’ve made it my mission to expose the companies and individuals who engage in predatory marketing, pricing, and contracts, or just provide terrible service. Along with uncovering the bad guys, I’ve also discovered the good guys who do stand out from the status quo. CPO is a website where you will find ratings and reviews of these companies along with advice on how to save money and which service providers consider. Together we can move the industry in a positive direction. If you would like to help support my work, please checkout “Fee Sweep” my eGuide to getting the lowest possible fees when accepting card payments. If you haven’t heard of “interchange” this advice will save you hundreds, even thousands, in processing fees.Schedule a Consultation with Phillip
Related: Phillip’s Top All-Purpose Merchant Account Picks
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