Introduction:
Cyprus is a growing hub for eCommerce in the Mediterranean, with a range of local and international payment gateway options. This guide provides a detailed look into the top 10 payment gateways in Cyprus, helping business owners make informed choices to streamline their payment processing.
1. JCC Payment Systems
JCC is a leading Cypriot payment processor, popular for its local support and seamless integration with Cypriot banks.
Key Features:
- Supports major credit and debit cards
- Real-time transaction monitoring and security
- Local support in Cyprus with Cypriot currency handling
Fees:
- Custom pricing based on business type and transaction volume
2. Viva Wallet
Viva Wallet is a prominent European payment gateway that has become popular in Cyprus due to its multi-currency and local support features.
Key Features:
- Accepts payments in multiple currencies, including Euros
- Offers virtual and physical POS solutions
- Supports integrations with major eCommerce platforms
Fees:
- 0.89% for European cards, 2.9% for non-European cards
3. PayPal
Widely recognized, PayPal’s international reach makes it a great choice for Cypriot businesses serving customers across borders.
Key Features:
- Simple, user-friendly interface with extensive fraud protection
- Ideal for international customers
- Supports multiple currencies, including Euros
Fees:
- 2.9% + €0.35 per transaction
4. Stripe
Stripe’s developer-friendly tools make it a top choice for Cypriot businesses needing customized payment solutions for international growth.
Key Features:
- Multi-currency support, including Euros
- Customizable API for integrations
- Advanced security features
Fees:
- European cards: 1.4% + €0.25
- Non-European cards: 2.9% + €0.25
5. Skrill
Skrill is an ideal option for Cypriot businesses needing a digital wallet solution for international payments, particularly in digital goods and services.
Key Features:
- International payments and transfers with digital wallet support
- Easy, fast transfers with minimal setup
- Secure and convenient for recurring payments
Fees:
- Transaction fees from 1.9%
6. MyPOS
MyPOS is well-suited for small to medium Cypriot businesses looking for a low-cost solution that supports both online and offline payments.
Key Features:
- All-in-one POS solution with online and mobile payment support
- Quick payouts to MyPOS accounts
- No monthly fees for basic accounts
Fees:
- Transaction fees starting from 1.5%
7. Adyen
Adyen is an excellent choice for larger businesses or those in Cyprus with significant international clientele, thanks to its extensive currency and payment method support.
Key Features:
- Accepts a wide range of payment options, including credit cards and wallets
- Robust analytics and reporting tools
- Strong fraud protection and security measures
Fees:
- Custom pricing based on business requirements
8. Braintree
A PayPal-owned company, Braintree supports multi-currency payments, making it ideal for Cypriot businesses expanding internationally.
Key Features:
- Accepts major credit cards and digital wallets
- Recurring billing and subscription support
- Advanced encryption and fraud detection
Fees:
- 2.9% + €0.35 per transaction
9. 2Checkout (Verifone)
2Checkout offers a flexible payment solution, ideal for Cypriot businesses wanting to accept payments in multiple currencies and payment methods.
Key Features:
- Supports 45+ payment methods and multiple currencies
- Secure checkout with anti-fraud protection
- Detailed reporting and analytics
Fees:
- 3.5% + €0.30 per transaction
10. Netaxept (Nets)
Netaxept, a Scandinavian payment gateway, has made a strong impact in Cyprus for businesses needing a reliable payment partner for cross-border transactions.
Key Features:
- Multi-currency support with Cypriot Euro option
- Strong security with two-factor authentication
- Integration with popular European eCommerce platforms
Fees:
- Custom pricing depending on transaction volume
FAQs
1. Which payment gateway is most suited for local transactions in Cyprus?
JCC Payment Systems is a great option for Cypriot businesses focusing on local transactions, as it integrates with local banks and supports the Euro.
2. Can I use PayPal if my business has mostly local customers?
Yes, although PayPal is commonly used for international payments, it can also be effective for local transactions and is recognized for its high security.
3. Is there a low-cost payment gateway for small businesses in Cyprus?
MyPOS and Viva Wallet are ideal for small businesses due to their competitive fees and no monthly charges for basic services.
4. Which payment gateways support recurring billing for subscription-based businesses?
Both Stripe and Braintree support recurring billing, making them suitable for subscription-based models.
