At first glance, choosing a payment gateway seems like a simple decision: compare the advertised fee and pick the lowest one. In practice, though, it doesn’t work that way.
Most of the real costs of accepting online payments don’t appear on the first line of the contract. They show up months later, on the invoice, in the form of setup fees, chargeback fees, currency conversion costs or lock-in clauses.
In this article, discover the most common hidden costs of online payments, why they happen and how to avoid unpleasant surprises in your business’s financial management.
Why aren’t online payment costs always clear?
When a customer pays by card in an online store, the money passes through several parties before it reaches the merchant, such as the payment gateway, the acquirer, the card-issuing bank and the card network (Visa, Mastercard). Each of these parties takes a share, and not all of those charges are regulated.
According to the Banco de Portugal, the interchange fee (the fee paid between banks on each card transaction) is capped by European law at a maximum of 0.2% for debit cards and 0.3% for credit cards. However, this is only part of the total cost: the fees charged by the card networks (scheme fees), processing costs and the gateway’s or acquirer’s own margin aren’t subject to this cap, and this is where most hidden costs tend to appear.
The most common hidden costs of online payments
Generally speaking, the most common costs for merchants accepting online payments are:
1. Setup fees and fixed monthly fees
Some solutions charge an initial activation fee or a fixed monthly fee regardless of sales volume, a cost that easily goes unnoticed when the comparison is based only on the per-transaction fee.
2. Chargeback and dispute fees
When a customer disputes a transaction with their bank, many providers charge a fixed fee for each chargeback, even if the merchant wins the dispute.
For this reason, businesses with a high sales volume should check this clause carefully.
3. Currency conversion (FX) fees
For businesses that sell outside Portugal, converting between currencies may involve an additional exchange margin, which is often not stated in the main price list. This is particularly relevant for stores that receive international payments.
4. Variable fees by volume or payment method
Not all payment methods cost the same.
An international card may carry a different fee from a domestic card, and methods such as MB WAY or Multibanco may have different pricing structures, which makes it important to understand the real cost per method, rather than just a generic average.
5. Lock-in clauses and early cancellation fees
Some contracts include minimum terms or early exit fees, which limits your business’s flexibility to switch provider if the conditions stop being favourable.
6. Compliance and security costs
PCI-DSS certification, which is mandatory for processing card payments securely, is sometimes charged as an add-on service instead of being included in the base offer.
7. Refund fees
Some providers charge an additional fee every time a refund is processed, even when the fee on the original sale has already been paid, a detail that is often overlooked when calculating margins.
How to avoid surprises on your payment gateway invoice
Before signing a contract with any payment provider, it’s worth checking:
- Whether there is a full, public price list, and not just a “from” rate;
- Whether there are fixed monthly fees on top of the per-transaction fee;
- How chargebacks and refunds are charged;
- Whether there are different fees per payment method (domestic card, international card, MB WAY, Multibanco);
- Whether there are lock-in clauses or early exit fees;
- Whether security certification (PCI-DSS) is included in the service.
Whenever possible, ask for a simulation based on your business’s actual sales volume, as it’s always more reliable than comparing the advertised percentage alone.
Receive online payments with no surprises with easypay
At easypay, our pricing is transparent and readily available, with no small print hidden in the contract.
You can check our Pricing page and the full price list at any time, with all costs broken down by payment method.
Because choosing easypay to avoid hidden costs means having:
- A public, detailed price list, with no surprise costs;
- PCI-DSS certification included, with no additional compliance cost;
- A single gateway for all the relevant payment methods in Portugal, with clear costs per method;
- A contract with no small print on lock-in clauses.
Request a commercial proposal from easypay today and find out exactly how much it costs to accept online payments in your business, with no surprises.