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Comprehensive comparison of Estonian e-commerce payment solutions + pricing

Accepting payments in an online shop is a critical part of running an online shop. Shoppers expect payments to be quick, easy and secure. The choice of payment solutions depends largely on the ease of use and setup, the pricing of the payment intermediary and the services offered. It is also important to keep an eye on your own needs and those of your customers.

In this article, I will compare the main payment solutions for e-shops in Estonia, the direct cost to the merchant, including bank links, card payments, instalments and delivery solutions. As e-commerce requires customers to be able to withdraw from a purchase within 14 days, a well-designed and effective returns solution is also crucial to running an e-store. If this is not provided by the service provider, additional costs should be considered, which are beyond the scope of this comparison.

The prices are calculated on the assumption that you have an e-shop with an average of 70 orders per month, with an average order value of €45. Your turnover in your e-shop is €3150. 75% of users use bank payments, 25% of visitors use card payments.

The first comparison is between Montonio and the Payment Centre. Both providers offer a convenient delivery solution in addition to payment solutions. With one plugin you can set up both payments and deliveries for your online shop. If the delivery solution is not provided by the payment intermediary, there may be additional costs when using delivery modules.

Payment Facilitator	Banklinks	Card payments	Supply Chain	Order by	Monthly fee	Assessment by example
Modena	Yes	Yes	No	Yes	0 €	16,02 €
Montonio Standard	Yes	Yes	Yes	Yes	11,99 €	40,10 €
Montonio Premium	Yes	Yes	Yes	Yes	19,99 €	39,79 €
Esto Start	Yes	Yes	No	Yes	0 €	24,07 €
Esto Boost	Yes	Yes	No	Yes	9,99 €	31,43 €
Esto Pro	Yes	Yes	No	Yes	29,99 €	48,81 €
Payment Centre	Yes	Yes	Yes	Yes	0 €	30,31 € (75,11 €)
Paysera	Yes	Yes	No	No	0 €	36,89 €
Stripe	No	Yes	No	No	0 €	103,95 €

Montonio payment solutions

Montonio is a payment and delivery platform specifically targeted at e-shops in Estonia and the Baltics.

Montonio offers the following services:

1. Banklinks – Swedbank, SEB, LHV, Coop Pank, Citadele, Luminor, Revolut
2. Card payments – Visa, Mastercard, American Express
3. Apple Pay and Google Pay – Mobile payments in Premium package
4. Buy now, pay later – Supports Inbank’s “Pay later” service.
5. Order by – There is no fee for the trader. Instalment period 3-72 months. Buyer pays interest and service fee.

Supply Chain – DPD, Omniva, Smartpost, Venipak

Pricing:

Pricing according to example:
An e-shop with an average of 70 orders per month, with an average order value of €45. Your e-shop turnover is €3,150 per month. 75% of users use bank payments, 25% use card payments.

Fixed monthly fee: 11,99 €
Amount to be spent on bank term deposits: 7,88 €
Amount spent on card payments: 15,23 €

Fixed monthly fee: 19,99 €
Amount to be spent on bank term deposits: 2,63 €
Amount spent on card payments: 12,16 €

If you also want to use the Montonio delivery service, an additional €5 will be added.

With the Montonio Premium plan, you get the option to use Apple and Google pay mobile payments in your e-shop and faster customer support. However, if you don’t have any orders in your e-shop, you will still have to pay the higher monthly premium plan fee.

Payment and delivery solutions from the payment centre

Maksekeskus is a payment and delivery platform widely used in Estonia and the Baltics, offering e-shops simple and efficient integrations that include various payment methods and delivery modules.

The Payment Centre offers the following services:

Banklinks – Swedbank, SEB, LHV, Coop Pank, Citadele, Luminor, Revolut, N26
Card payments – Visa, Mastercard, American Express
Apple Pay and Google Pay – Mobile payments
Buy now, pay later – Supports Inbank’s “Pay later” service.
Order by – Estonia Inbank. Internationally, Inbank, Mokilizingas and Moki3. There is no cost to the merchant.
Supply Chain – DPD, Omniva, Smartpost, Venipak

Refunds under the campaign until 31 December:

Pricing according to the standard price list:

Amount to be spent on bank term deposits: 19,35€ (50,88 €)
Amount spent on card payments: 10,97 €(24,23 €)

If you also wish to use the Payment Centre’s delivery service, an additional €5 will be added to the amount during the non-promotional period.

Although there is no monthly fee, the payment fee takes a % of the basic commission and therefore fees may be higher depending on the volume of transactions. The higher the turnover of the e-shop, the higher the monthly fees.

Next, I will compare payment intermediaries that do not offer a 2-in-1 delivery solution. We will compare Modena, Esto and Paysera.

Modena payment solution e-shop

Modena is a payment solutions platform specifically targeted at e-shops in Estonia and the Baltics. Modena is licensed by the Financial Supervision Authority as both a creditor and a payment institution. In other words, Modena does not act as an intermediary for any other service provider. Modena operates mainly in Estonia and Latvia.

Modena offers the following services:

Pangalingid – Swedbank, SEB, LHV, Coop Pank, Citadele, Luminor
Card payments – Visa, Mastercard
Buy now, pay later – “Modena – pay in 3 instalments, €0 surcharge”, the popular “Try at home & Pay later” solution
Order by – Modena hire purchase up to 48 months
Business customer hire purchase – Modena business hire purchase up to 60 months

Pricing:

Amount to be spent on bank charges: 2,63 €
Amount spent on card payments: 13,39 €

There is no fixed monthly fee for Modena, which means that payments depend only on the number of transactions. In addition, Modena does not charge a percentage fee on bank payments, which makes it currently the cheapest payment intermediary on the market. As Modena does not offer delivery density, there may be additional charges for delivery integration.

Esto payment solutions

ESTO is one of the most popular payment platforms for merchants in the Baltics, offering flexible payment solutions in the form of bank payments, card payments as well as various “buy-it-now-pay-it-quick” solutions (including fully automated instalments). ESTO’s solutions are used by over 6,000 outlets across the Baltics, offering customers convenient and secure payment options.

ESTO offers the following services:

Pangalingid – Swedbank, SEB, LHV, Coop Pank, Citadele, Luminor, Revolut, Šiaulių bankas bankas
Card payments – Visa, Mastercard
Apple Pay and Google Pay – Mobile payments in Premium package
Buy now, pay later – offers a range of options, including the no-frills ESTO 3 payment method and ESTO pay later.
Order by – hire purchase for up to 60 months and 0 € contract fee

Pricing:

Amount to be spent on bank charges: 7,88 €
Amount spent on card payments: 16,19 €

Fixed monthly fee: 9,99 €
Amount to be spent on bank charges: 5,25 €
Amount spent on card payments: 16,19 €

Fixed monthly fee: 29,99 €
Amount to be spent on bank term deposits: 2,63 €
Amount spent on card payments: 16,19 €

Esto offers a range of flexible instalment options to help increase the value of your shopping basket and the ease of shopping for your customers. This comes in handy if the products in your online shop are more expensive. Also, the choice of higher packages provides cost-effective options for e-shops with higher transaction volumes. This way, you benefit from a lower fee per payment. However, it is worth paying attention to fixed fees for card payments, which can increase costs.

Paysera payment solution

Paysera provides payment and banking links targeted at online shops and merchants operating in and around the European Union. Paysera payments are received in real time.

Paysera offers the following services:

Pangalingid – Revolut, Allianz Bank, Nordea, Coop Pank, Šiaulių Bankas, Trustly, SEB, Swedbank, Luminor, Medicinos Bankas, Citadele, ING, UniCredit Bank, LHV, Fibank, Raiffeisen Bank.
Card payments – Visa, Mastercard and Maestro
Apple Pay and Google Pay – Mobile payments
Buy now, pay later – Baltic customers. Supports Inbank’s “Pay later” service. For Lithuanian buyers also General Financing instalment facility.
Order by – Instalment period 2-72 months.
Supply Chain – Baltic States Omniva, Itella, Venipak

Pricing:

Pricing according to example:

An e-shop with an average of 70 orders per month, with an average order value of €45. Your e-shop turnover is €3,150 per month. 75% of users use bank payments, 25% use card payments.

Amount to be spent on bank term deposits: 20,80 €
Amount spent on card payments: 11,09 €
Monthly account fee: 5 €

Paysera is a flexible payment solution that offers favourable pricing depending on the volume and turnover of your transactions. The platform supports a number of popular payment methods, including bank links and card payments, and is also well suited to international e-commerce. Paysera stands out for its low fees, which decrease as the number of transactions and turnover increase, making it a cost-effective solution for higher volume e-shops. Similarly, if the turnover of an online shop is more than EUR 37 500 or their online shop carries out more than 750 transactions per month, they will make a better pricing offer to the customer.

Stripe payment solution

Stripe is an international payment service provider that supports both card and alternative payment solutions such as Apple Pay and Google Pay. Stripe is renowned for its no monthly fee pricing and ultra-lightweight setup, offering the ability to accept payments with no standing charges, but implementing transaction-based pricing. Stripe has the advantage of its broad international reach, which is well suited to e-commerce stores operating in multiple markets.

Stripe offers the following services:

Card payments – Visa, Mastercard, American Express
Apple Pay and Google Pay – Mobile payments
Recurring monthly payments – Automated monthly payments, different package options

Pricing:

Pricing according to example:
An e-shop with an average of 70 orders per month, with an average order value of €45. Your e-shop turnover is €3,150 per month. For Stripe, all 70 transactions are card payments, as Stripe does not offer bank links.

Amount to be spent on card payments: €103.95

Stripe does not offer separate banking solutions, so all payments are card-based, which results in a higher percentage fee. Stripe is the only provider in the comparison that offers recurring automatic card payments, or subscription. This comes in handy if you want customers to make regular monthly payments to you. Stripe’s strengths are its extensive global support and the lack of monthly fees, but its lower volumes and lack of local payment methods can be a disadvantage. Stripe can be set up in an online store in just a few clicks, and it is also easy to set up e-invoices from the Stripe environment.

Each payment intermediary offers different services, depending on the needs of the e-shop. As you can see from the examples, bank payments are generally a cheaper option for you than card payments. Montonio and the Payment Centre offer 2-in-1 solutions where you can manage both payments and deliveries, but the Payment Centre’s prices can be expensive once the campaign ends. Modena and Paysera are good options if you’re looking for a simple, low-cost payment solution, while Esto is suitable for online shops that need flexible instalment options.

The choice of payment solutions depends primarily on the needs of your business and your customers. I hope that you have a clearer picture of what is happening in the payments market and that you find the right payment processor for your e-shop. If you need help setting up payments, contact me and I will help you.