Accepting online payments: a must for modern businesses
According to Capital One Shopping’s 2025 e‑commerce statistics, global retail e‑commerce sales are expected to reach $6.42 trillion in 2025, representing 20.5% of all retail sales.
But accepting online payments goes far beyond traditional ecommerce. Today, it concerns a wide range of activities:
- Retailers complementing in-store sales with a website or remote orders
- Restaurants offering delivery or click and collect
- Tradespeople sending quotes and requesting fast remote payments
- Service providers collecting deposits or reservation fees
Regardless of your business size, accepting online payments opens new opportunities. You can reach customers beyond your local area, collect payments 24/7 even when your shop is closed, and make purchasing easier by offering familiar payment methods.
The good news is that modern payment gateways make this accessible to everyone. Whether you work with your business bank, a fintech, or a specialised payment service provider (PSP), solutions exist for every use case. Each option has its advantages, and understanding the differences helps you make the right choice.
How does an online payment work?
When a customer pays on your website or via a payment link, several technical steps happen in just a few seconds.
First, the customer selects a payment method such as a card, digital wallet, or bank transfer and confirms the transaction on your payment page.
Next, the payment gateway comes into play. It secures the transaction and acts as an intermediary between your website and the banking networks. The gateway encrypts sensitive data, sends the authorisation request to the customer’s bank, checks the validity of the payment method and available funds, applies security protocols such as 3D Secure, and returns an approval or decline in real time.
Finally, once the payment is authorised, funds are transferred to your business bank account. Settlement usually takes between 24 and 48 hours, depending on your payment provider.
Bank, fintech or PSP: how to choose a payment solution?
To accept online payments or collect in-store, three main types of solutions are available. Each meets different business needs.
Business banks: continuity, but limited flexibility
Traditional banks remain a central and reassuring partner for managing business accounts. However, their payment solutions often rely on multiple technical intermediaries. This can result in fragmented tools, longer setup times, ageing hardware, and cumulative costs such as installation fees, equipment rental, and long-term commitments.
Fintechs: simplicity, but limited scope
Neobanks and fintechs attract businesses with fast onboarding, clean interfaces, and transparent pricing. They are well suited to small businesses that need to get started quickly.
That said, their payment acceptance solutions are often limited. Terminals are basic and rarely connected to point-of-sale systems, available payment methods are restricted, merchants are usually required to use the fintech’s own bank account, and support is primarily online.
Specialised PSPs: the right balance
Payment service providers (PSPs) bring together technology, security, and payment flow management within a single solution. They typically offer fast deployment both online and in-store, a wide range of payment methods, an omnichannel approach that unifies all payment channels, continuous innovation such as payment links, wallets, Click to Pay, or Tap to Pay, and the ability to keep your existing bank.
Monext
Monext combines the reliability of a banking player with the agility of a fintech. Monext offers bank-level security, compliance, and stability, while delivering modern, easy-to-integrate payment solutions for online, in-store, and mobile use cases.
Monext integrates with any bank and provides a much broader range of terminals and payment solutions than traditional banks or fintechs, with more than 80 payment methods available by default.
Funds are credited to your existing bank account as early as the next business day, with no need to change banks. Pricing is clear and commitment-free, with no hidden installation costs or equipment rental fees.
Getting started with online payments
Many businesses worry that setting up online payments will be complex or time-consuming. In reality, implementation depends largely on your platform.
If you use ecommerce platforms such as Shopify, WooCommerce, or PrestaShop, integration can be completed in just a few clicks using a plugin. For custom-built websites, setup may take a few days with the help of your developer or your PSP’s technical support.
Fees vary by provider and usually consist of a transaction percentage, generally between 0.9% and 2.5% depending on the payment methods, sometimes combined with a monthly subscription. Merchants should remain vigilant about hidden fees such as setup charges, long-term commitments, or hardware rental.
Are online payments secure?
Yes, provided you work with a PCI DSS-compliant payment gateway. Card data is encrypted and never transmitted in plain text. Additional security layers such as 3D Secure help protect transactions by requiring customers to validate payments via their banking app.
These measures significantly reduce fraud risk while preserving a smooth checkout experience for legitimate customers.
Ready to accept online payments?
Accepting online payments is no longer optional. It is a key driver of growth, customer satisfaction, and operational efficiency.
With the right payment gateway and the right partner, you can accept online payments easily, securely, and without unnecessary complexity. Monext supports businesses at every stage, from initial setup to ongoing optimisation, with flexible solutions tailored to your activity.
