Top 8 Payment Gateway in Spain That You Need To Know

Spain is a mature financial market ruled by various digital and non-digital payment types. Every payment type is available within the country's economy, from digital wallets to credit cards to cash. 

As more financial enterprises continue to mushroom nationwide, a massive shift in how financial transactions shape the economic scenario exists.

Here are some top trends within the financial gamut to note within the Spanish economy.

Current Payment Solution Landscape in Spain 

During the forecast period of 2022-2027, the Spanish financial market will grow by a CAGR of 9.6%. 

Additionally, the following trend points are noteworthy:

1. Like other European countries, the Spanish economy is seeing an increasing smartphone penetration, paving the way for better digital transactions and payments. The emergence of smartphones is leading to an increase in cashless transactions and digital payments, giving better flexibility to consumers and merchants alike.

2. Another common feature in Spain is the wide acceptance of the Buy-Now-Pay-Later (BNPL) model. Consumers availing of this feature can use a virtual card to purchase products and services in-store and on online platforms. The Buy-Now-Pay-Later's increased popularity gives consumers freedom and mobility, allowing them to shop online easily. There's a 32% decrease in the average value of online spending compared to 2022.

3. There has been a considerable decline in the use of credit cards on POS and online outlets. The rise of alternative payment methods, such as BNPL, digital wallets, and other cashless forms, puts the credit card methodology out of sync with Spanish consumers.

4. Despite the adoption and availability of digital payment methods, cash continues to dominate the markets. While there is a shifting reliance on this currency type, it's still a preferred payment choice after the pandemic.

Criteria to Look Out for Payment Gateways in Spain

Payment gateways are one of the most widely preferred ways of making and accepting payments. Consumers and merchants can make seamless payments via a payment gateway, allowing seamless online transactions. 

As an online business, here's what you need to consider at the time of shortlisting a payment gateway:

1. Reliability:

Since you are dealing with financial transactions, it's essential to associate your brand with a reliable payment gateway. Financial security and reliability are two crucial aspects that go hand-in-hand. Plenty of reliable payment gateways in the market offer a slew of features to the end consumers. 

2. Supported currencies:

Payments gateways are known for the variety of supported currencies. When dealing with different customer segments and markets, you need to offer your local and international customers an option to pay in various currency options. These should include local and top-trending international currencies so that your brand's customers feel supported during the entire purchase lifecycle. 

3. Payment options:

Some standard payment options include buy-now-pay-later, installment plans, reduced interest rates, etc. A reputed payment gateway needs to offer a variety of payment options to its customers so that they can pick and choose the most suitable choice which fits their pockets and makes their purchase worthwhile.

4. Market integrations:

The market is flooded with technical integrations and website models. On top of that, whenever your business enters a new market, your brand must associate with the economic rules and regulations. A renowned payment gateway offers several options to seamlessly integrate new market technologies and provide the best in-house service to merchants and customers. 

5. Security:

Security is paramount since your business collects and stores sensitive customer information for future payment processing. Given the nature and sensitivity of the information, you need to associate with a payment gateway that banks heavily on the transaction and customer security while securing data in a few basic clicks. 

6. Pricing and other fees:

Finally, pricing and an additional fee are other factors that determine your choice. Payment gateways offer several payment options, which include collecting payments in different currencies, re-routing payments from one account to another, etc. Each service has an associated cost borne by the merchant/customer. As a business, you need to decide and shortlist a payment gateway that provides the best pricing and fee structure to get the most out of your financial transactions.

8 Best Payment Gateways in Spain

The following payment gateways are some of the most renowned names in Spain. You can choose the one closest to your business that provides a good deal regarding security, pricing, fee, and other relevant factors. 

1. Adyen

Adyen, an omnichannel payment processing platform, offers businesses different payment methods via its multi-faceted platform. 

It is primarily a payment gateway service offering point-of-sale systems that allow in-person transactions, and in-app and mobile payment integrations, amongst other features. 

Pricing and Other Fees:

Setup fee: Free

Annual Fee: None

Monthly fee: None

Charges on refunds: Information Available on request

The commission per transaction: 

• 2.59% plus 49 cents for credit cards, debit cards, and digital wallets. 
• 3.49% plus 49 cents for Venmo (U.S. only), transactions in non-U.S. currency, or transactions outside the U.S. 
• 0.75% for ACH (maximum fee of $5). Discounts are available for enterprise businesses.

Accepted Payment Methods:

Credit/Debit cards: Visa and MasterCard

Other accepted payments: 

• ACH Direct Debit 
• Affirm
• PayPal
• Afterpay
• Zip
• American Express
• Apple Pay 
• Google Pay
• Samsung Pa 
• Diners Club 
• Discover
• Google Pay 
• JCB
• Klarna
• Paysafecard
• UnionPay

Supported Currencies: Adyen supports 30+ significant currencies.

Approvals and Onboarding Time: Within minutes

eCommerce Platform Integration: 

• Shopware, 
• Magento, 
• Prestashop, 
• Salesforce, 
• Oracle, 
• BigCommerce
  
  

2. Checkout

If you want a full-stack payment option, head to Checkout.com. This payment gateway allows you to customize, scale, and transact at breakneck rates.

Given its modular integration technology, several global brands and businesses are integrating a seamless, feature-rich payment system to make the most out of their technological genre.

When addressing scalability and regulatory difficulties, Checkout.com's local staff offers additional support to businesses.

Pricing and Other Fees:

Setup fee: Free

Annual Fee: None

Monthly fee: None

Charges on refunds: Information Available on request

Commission per transaction: 0.95% plus $0.20 for European cards and 2.90% plus $0.20 for non-European cards.

Accepted Payment Methods:

Credit/Debit cards: Visa and MasterCard

Other accepted payments: Apple Pay, PayPal, and Alipay.

Supported Currencies: Checkout supports all major currencies.

Approvals and Onboarding Time: Information Available on request

eCommerce Platform Integration: 

• Astound Commerce
• WooCommerce
• Shopify
• Cabiri
  
  

3. 2Checkout 

2Checkout is one of Europe's most widely used payment gateway choices, and Spain is no exception. Given its global presence, it has established itself as one of the most trusted names in the financial sector, with over 20,000 brands spanning 211 countries.

2Checkout, as an online payment gateway, provides several benefits to its customers. Some most commonly known benefits include globalized payment facilitation, subscription billing, financial services, risk management and compliance, multilingual support, and more.

Pricing and Other Fees:

Setup fee: Free

Annual Fee: None

Monthly fee: None

Charges on refunds: Information Available on request

Commission per transaction: Businesses can choose from one of the following plans:

o   2Checkout 2 SELL: 3.5% + $0.35 per successful sale.

o   2Checkout 2 SUBSCRIBE: 4.5% + $0.45 per successful sale.

o   2Checkout 2 MONETIZE: 6% + $0.60 per successful sale. 

Accepted Payment Methods:

Credit/Debit cards: 

• American Express
• Discover
• JCB
• MasterCard
• Neteller
• PayPal
• P.O.
• Skrill 
• Visa

Other accepted payments: 

• Apple Pay, 
• Google Pay, 
• AliPay, and 
• OPay

Supported Currencies: 2Checkout supports 87 major currencies.

Approvals and Onboarding Time: Information Available on request

eCommerce Platform Integration: All major e-commerce CMS platforms.

4. Mollie

Mollie is an easy-to-use and reliable payment provider commonly available for financial transactions in Spain. However, it owes its roots to the Netherlands and Belgium. 

This highly scalable payment platform offers businesses access to a rich ecosystem of tech solutions, making payment gateway integration a rewarding experience.

Mollie has client and server libraries for various tech stacks. It also has prebuilt accounting, invoicing, cart management, and workflow automation integrations to ease development and integrations.

Pricing and Other Fees:

Setup fee: Free

Annual Fee: None

Monthly fee: None

Charges on refunds: Information Available on request

The commission per transaction: 

 For Visa 

o European Union consumer cards- € 0.25+1.8%

o Commercial & non-EU cards- € 0.25+2.9%

 For MasterCard

o European Union consumer cards- € 0.25+1.8%

o Commercial & non-EU cards- € 0.25+2.9%

 For American Express

o Worldwide- € 0.25+2.9%

For Maestro

     Netherlands- € 0.39

 Apple Pay

Worldwide- Rate defined by card used

 SOFORT Bank Transfer

Europe- € 0.25+0.9%

 SEPA Direct Debit

Europe- € 0.25

 SEPA Bank Transfer

Europe- € 0.25

Paysafecard

Worldwide- 15%

 PayPal

Worldwide- € 0.10

Accepted Payment Methods:

Credit/Debit cards: Visa and MasterCard

Other accepted payments: iDEAL, Bancontact/Mister Cash, PayPal, SCT, SDD, etc. 

Supported Currencies: EUR, GBP, DKK, NOK, PLN, SEK, CHF, and USD. 

Approvals and Onboarding Time: 2 weeks

eCommerce Platform Integration: 

• Wix
• WooCommerce
• Prestashop
• Magento 2

Good Read: Top 12 Payment Gateways in Germany that you Need to Know

5. Stripe

The Stripe API package facilitates online payment processing and commerce solutions for various online businesses. 

European businesses use Stripe's software and APIs to process payments, distribute payouts, and manage online operations.

Pricing and Other Fees:

Setup fee: Free (Pay-as-you-go)  

Annual Fee: None

Monthly fee: None

Charges on refunds: Information Available on request

Commission per transaction: 2.9% + 30 cents per transaction

Accepted Payment Methods:

Credit/Debit cards: Visa and MasterCard

Other accepted payments: 

• Alipay
• Apple Pay
• Google Pay 

Supported Currencies: Stripe supports 135+ significant currencies.

Approvals and Onboarding Time: 7 days

eCommerce Platform Integration: 

• WooCommerce, 
• Shopify and other leading CMSs.

6. Authorize.net

Authorize.net, an online payment gateway, is renowned for point-of-sale transactions. It allows businesses to accept electronic checks and facilitates contactless payment options spanning different online methods. 

Authorize.net owns an award-winning technical support team that helps businesses efficiently meet their technical and financial goals. 

Pricing and Other Fees:

Setup fee: Free

Annual Fee: None

Monthly fee: $25 

Charges on refunds: Information Available on request

The commission per transaction:

• 2.9% + 30¢ (all-in-one option)
• 10¢ (payment gateway only) 

Accepted Payment Methods:

• Credit/Debit cards: Visa and MasterCard
• Other accepted payments: Discover, American Express, JCB, PayPal, Apple Pay, and eCheck.

Supported Currencies: USD, CAD, CHF, DKK, EUR, GBP, NOK, PLN, SEK, AUD, NZD, and USD.

Approvals and Onboarding Time: 2 business days

eCommerce Platform Integration: Magento, Moolah, eBay, SurveyMonkey, and Shopify.

7. Cybersource

Cybersource offers a slew of features in its one-stop platform. Some notable features include the likes of: 

• 260+ fraud detectors
• Customer-friendly payment experiences
• Easy tech integrations
• 24/7 support

With their robust platform, you can accept payments globally, secure your customer's financial data and use the available fraud management tools to keep the fraudsters at bay.

Additional features include robust and intuitive APIs to support payments, access to other services, global tax calculation, recurring billing, and more.

Pricing and Other Fees:

Setup fee: Free

Annual Fee:  None

Monthly price:  Nonele

Charges on refunds:  Information Available on request

The commission per transaction: Information Available on request 

Accepted Payment Methods:

• Credit/Debit cards: Visa, MasterCard, American Express, Discover, Diner's Club, JCB, and Maestro
• Other accepted payments: Cartes Bancaires, CartaSi, Alipay, Android Pay, Visa Checkout, and Google Pay.

Supported Currencies: AUD, CAD, CHF, DKK, EUR, GBP, HKD, JPY, NOK, NZD, SEK, SGD, THB, and USD.

Approvals and Onboarding Time: Information Available on request

eCommerce Platform Integration: Information Available on request

8. BlueSnap

BlueSnap is an all-in-one payment platform that caters to all your payment needs effectively and efficiently. The service providers offer customers and merchants payment options for accepting payments online via mobile checkout, POS outlets, virtual terminals, et al. 

BlueSnap integrates well with different business platforms, such as shopping carts, ERP, CRM systems, etc. In short, you don't need to change a thing to integrate this into your existing website. 

Pricing and Other Fees:

Setup fee: No setup fee 

Annual Fee:  No setup fee 

Monthly price:  None

Charges on refunds:  Information Available on request

The commission per transaction: 1,4% + €0,25 per successful card transaction

Accepted Payment Methods: Diners Club, JCB, Mastercard, Maestro, RuPay, and Visa

• Credit/Debit cards: Visa, MasterCard, American Express, Discover, Diner's Club, JCB, and Maestro

• Other accepted payments: Alipay
• Apple Pay
• Click to Pay
• Google Pay
• Visa Checkout
• PayPal
• Payment Request API (W3C)
• ACH/ECP
• SEPA Direct Debit
• Local Bank Transfer
• Boleto Bancário
• eNETS
• Giropay
• iDEAL
• Paysafecard
• Skrill
• Sofort

Supported Currencies: 100+ significant currencies 

Approvals and Onboarding Time: Information Available on request

eCommerce Platform Integration: Bitpay, Trevipay, Splitit, Chargebee, BigCommerce, Sticky.io, Veracross, OpenPath, Magento, WooCommerce, Aurus, Gaviti, XCart, WordPress, Drupal, OpenCart, and Yola.

Local Payment Gateways and the Rising Complexities for the Businesses

The Spanish fintech sector has faced many challenges due to increased financial institutions. With the inclusion of the PSD1 and PSD2 regulatory frameworks, plenty of legal, regulatory, anti-money laundering, and financial risks must be considered.

The launch of Artificial Intelligence is bringing an evolution to the banking and financial industry; however, with such a quick transition, the financial sector can't cope with the development, and this inability to adapt creates new problems for enterprises.

How Can inai Help You Integrate Multiple Payment Gateway Integrations in Spain?

inai is an aggregator platform that benefits different payment merchants and customers. Why would you consider any other aggregator when you can integrate and manage 300+ international payment methods from a single platform? 

At inai, we value ourselves for our services and our extensive global reach, which shall provide your business multiple benefits and an edge over competition. 

Our payment aggregation platform is a single, one-stop solution that integrates multiple platforms, providing a detailed analytical report on your payments and collections. 

Some additional benefits include the following:  

• Localized checkout benefits your business since customers can transact in their local currency. 
• Customizable front-end CXO dashboards to align your brand with refund management requirements.
• Built-in Enterprise Grade security integrations to meet standards laid down by PCI-DSS and GDPR policies.
• Extensive reporting facilities to manage your payments and service providers. 
• Access to different tools to enhance your payment gateways and related associations. 

We value our business-customer relationship and promise to provide the best possible services to customers from different walks of life.