Introduction
Estonia is a tech-driven country, known as a hub for digital innovation and e-commerce in Europe. Choosing a secure and efficient payment gateway is essential for Estonian businesses to meet the expectations of tech-savvy consumers. This guide explores the top 10 payment gateways in Estonia, their features, and what makes each one suitable for local businesses.
1. Maksekeskus
Overview:
Maksekeskus is a popular Estonian payment gateway, specifically designed to support local e-commerce needs. It connects with the major banks in Estonia, making it an ideal choice for businesses catering to the local market.
Key Features:
- Direct integration with major Estonian banks
- Supports EUR and popular local payment methods
- User-friendly for businesses and customers
Fees:
Transaction fees vary depending on the payment method used, with transparent pricing for local transactions.
Best For:
Local Estonian businesses aiming to simplify payment collection from local bank customers.
2. EveryPay
Overview:
EveryPay offers a modern, customizable payment platform with a focus on seamless integration and security. Known for its advanced API and high-security features, it’s ideal for businesses needing flexibility and robust features.
Key Features:
- EUR support with multi-currency options
- Powerful API and customizable integrations
- Comprehensive fraud prevention tools
Fees:
Competitive transaction fees with volume-based discounts.
Best For:
Medium to large businesses looking for a secure, customizable gateway.
3. PayPal
Overview:
PayPal is a widely accepted and globally trusted payment gateway that also has a strong presence in Estonia. It’s especially beneficial for businesses with an international customer base.
Key Features:
- Supports EUR and multiple currencies for global transactions
- Extensive buyer and seller protection
- User-friendly with a well-established reputation
Fees:
Standard transaction fees apply, with additional charges for currency conversion.
Best For:
Small to large businesses with local and international clients.
4. Stripe
Overview:
Stripe is an excellent choice for tech-driven Estonian businesses, offering advanced API capabilities and a high degree of customization, making it ideal for companies needing flexibility.
Key Features:
- Supports 135+ currencies, including EUR
- Comprehensive developer tools for custom solutions
- Built-in fraud protection and analytics
Fees:
Flat-rate transaction fees, with additional fees for currency conversions.
Best For:
Tech startups and enterprises with custom payment processing requirements.
5. Montonio
Overview:
Montonio is an Estonian startup that provides an affordable and straightforward payment solution, especially for local e-commerce businesses. It offers seamless integration with Estonian banks for easy direct transfers.
Key Features:
- Supports EUR and direct bank payments
- Transparent and competitive pricing structure
- Provides financing options for customers
Fees:
Transaction fees apply, generally lower than many international options.
Best For:
Small and medium-sized businesses looking for a cost-effective, local payment gateway.
6. SEB Bank Payment Gateway
Overview:
SEB, a leading bank in Estonia, offers a secure payment gateway service. Businesses that already have an SEB account can easily integrate this solution into their online store for seamless transactions.
Key Features:
- Direct integration with SEB bank accounts
- EUR and multi-currency support
- User-friendly with high-security standards
Fees:
Bank-specific transaction fees and processing charges apply.
Best For:
Businesses with existing accounts at SEB Bank and a local Estonian customer base.
7. Swedbank Payment Gateway
Overview:
Swedbank, another leading bank in Estonia, provides an easy-to-use payment gateway for businesses. Known for its local focus and reliability, Swedbank’s gateway is ideal for businesses focused on Estonian customers.
Key Features:
- Supports EUR and local bank transfers
- Direct integration with Swedbank accounts
- High-security standards and easy setup
Fees:
Competitive fees with transparent pricing for businesses with Swedbank accounts.
Best For:
Local Estonian businesses already banking with Swedbank.
8. Adyen
Overview:
Adyen is a global payment solution provider with a strong European presence. It’s known for supporting multi-channel payments and providing an all-in-one solution suitable for both online and in-store businesses.
Key Features:
- EUR support with broad international payment options
- Advanced analytics and reporting
- Security features like 3D Secure and fraud detection
Fees:
Transaction fees apply, with tailored pricing for larger businesses.
Best For:
Large Estonian businesses with a local and international clientele.
9. Mollie
Overview:
Mollie is a European payment gateway known for its simplicity, transparency, and support for popular payment methods in Estonia, such as SEPA and credit cards. It’s particularly appealing for small and medium-sized businesses.
Key Features:
- EUR and other major currencies supported
- Transparent, low-cost pricing structure
- Easy integration and user-friendly platform
Fees:
Transaction-based fees with no monthly or setup fees.
Best For:
SMBs looking for a low-cost, easy-to-integrate payment solution.
10. Paysera
Overview:
Paysera is a well-established payment gateway with strong support across the Baltics, including Estonia. It’s known for providing affordable, secure, and reliable services tailored to local needs.
Key Features:
- EUR and multi-currency support
- Low-cost international transfers
- Various payment methods, including local bank transfers
Fees:
Competitive transaction fees, particularly for international transactions.
Best For:
Businesses targeting the Baltic and European markets, including cross-border sales.
FAQs
1. What is the most commonly used payment method in Estonia?
Bank transfers are highly popular in Estonia, with solutions like Maksekeskus and Montonio supporting direct transfers from major Estonian banks.
2. Can I accept credit cards with local Estonian payment gateways?
Yes, gateways like Montonio, Paysera, and Mollie support credit card payments, in addition to local bank transfers.
3. Is it necessary to have a local bank account to use these payment gateways?
For local gateways like Maksekeskus and Swedbank, a local bank account is recommended. However, international options like PayPal and Stripe do not require one.
4. Which payment gateway is best for an international Estonian business?
Adyen and PayPal are popular options for businesses with an international reach, providing multi-currency support and secure global transactions.
5. Are there any low-cost options for startups in Estonia?
Montonio and Mollie offer competitive rates with transparent pricing structures, making them ideal for startups and SMBs.
Conclusion
Estonia’s payment landscape offers a variety of gateways catering to local and international businesses alike. Whether your focus is on simplicity, affordability, or customization, this guide to Estonia’s top 10 payment gateways provides the insights needed to make an informed choice for your business.
