The verdict in three sentences
The right PSP is not the cheapest on paper but the one that simultaneously optimises fees, acceptance rate and payout timing for your profile. For a Berlin SME, a 1-point fee gap on 500,000 EUR/year is 5,000 EUR; a 2-point acceptance improvement is often worth as much. Choose by your payment method mix (cards, SEPA, wallets), your volume and your cash-flow needs (payout T+1 vs T+7).
The criteria that really hit your margin
Four variables drive total cost: the fee rate (interchange + PSP commission), the acceptance rate (successful payments over attempts), the payout delay (cash-flow impact) and the cost of disputes (chargebacks at 15-25 EUR each). An SME selling high-value and low-volume prioritises acceptance; one selling high-volume small baskets chases every tenth of a point.
| PSP | EU card fee | Payout timing | Multi-currency | Dispute handling |
|---|---|---|---|---|
| Stripe | 1.5 % + 0.25 EUR | T+2 to T+7 | Yes (135+) | Built-in tool, 15 EUR/dispute |
| Mollie | 1.8 % + 0.25 EUR | T+1 to T+3 | EU + local | Solid, 15 EUR/dispute |
| Adyen | 1.2 % + interchange | T+2 (config.) | Yes (150+) | Advanced, RevenueProtect |
| PayPlug | 1.4 % + 0.25 EUR | T+1 | Limited | Simple, FR support |
| GoCardless | 1 % (cap ~2 EUR) | T+3 to T+5 | SEPA + GBP | Low rejection rate |
Real fees by volume
Rate cards move with volume: above 100,000 EUR/month, Adyen and Stripe negotiate interchange++ rates, often 0.2 to 0.4 point below the public tariff. Here is the order of magnitude of annual fee cost for different profiles.
| SME profile | Volume/year | Recommended PSP | Estimated annual fee cost |
|---|---|---|---|
| B2B services, large basket | 300,000 EUR | Stripe + GoCardless | 3,800 - 5,200 EUR |
| EU multi-country e-commerce | 600,000 EUR | Mollie or Adyen | 8,500 - 11,000 EUR |
| High volume, small basket | 1,200,000 EUR | Adyen (interchange++) | 15,000 - 19,000 EUR |
| Recurring SEPA subscriptions | 400,000 EUR | GoCardless | 4,000 - 6,000 EUR |
| Simple domestic shop | 150,000 EUR | PayPlug | 2,200 - 3,000 EUR |
SEPA direct debit via GoCardless caps fees around 2 EUR per operation, making it unbeatable on large recurring baskets: on a 3,000 EUR invoice, SEPA costs ~2 EUR versus ~45 EUR by card.
Mini case study
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Marc is CFO of a digital services SME in Berlin, 500,000 EUR collected per year, 70 % cards and 30 % recurring invoices. With a single aggregator at 2.4 %, he pays 12,000 EUR/year in fees. By routing cards to Stripe (1.5 %) and recurring to GoCardless (1 %, 2 EUR cap), the bill falls to roughly 6,300 EUR/year.
Gross saving: 5,700 EUR/year. The cost of setting up dual routing and unified reconciliation: 3,500 EUR, paid off in 7 months. As a bonus, card acceptance gains 1.5 point, about ~5,250 EUR of sales recovered over the year.
FAQ
Is the cheapest PSP always the best choice? No: a 2-point lower acceptance rate can cost more than 0.3 point of fees saved. On 500,000 EUR, 2 acceptance points are worth 10,000 EUR of sales.
How much does a chargeback cost? Expect 15 to 25 EUR in fixed fees per dispute, excluding the refunded amount; above a 1 % dispute rate your account may be penalised or suspended.
What payout timing should I target? T+1 to T+3 is ideal for an SME's cash flow; a T+7 payout on 500,000 EUR/year permanently ties up about 9,600 EUR of cash.
Can I switch PSPs easily? Yes if your integration runs through an abstraction layer; otherwise expect 2 to 4 weeks of re-integration and a dual-run period to secure reconciliation.
Does GoCardless replace a card? No, it complements it: SEPA excels on recurring and large B2B amounts but is unsuited to instant in-store payment or non-SEPA international.
Let's scope your project. Send us your annual volume, payment method mix and target margin: we will model the optimal PSP and the expected savings. Detailed quote within 48 h. WhatsApp +221 77 596 93 33.
Mohamed Bah
Fondateur, Kolonell
Passionate about digital and entrepreneurship in Africa, Mohamed has been helping Sénégalese businesses with their digital transformation since 2020. Founder of Kolonell, he believes every SME deserves a professional and accessible online présence.
