Choosing a PSP (payment gateway) in Spain is a key decision for any e-commerce or digitally driven business.
Many companies start with popular solutions due to their ease of use, but as they grow, they begin to look for alternatives that better fit their needs. However, not all PSPs offer the same capabilities.
What is a PSP (Payment Service Provider or payment gateway)
A PSP (Payment Service Provider) is a platform that allows businesses to:
- Accept online payments
- Process cards and payment methods
- Manage transactions securely
Its main function is to facilitate payments. Technology has significantly improved the online payment process, making it simpler while offering more advanced features (such as diversified payment methods, split payments, recovery solutions, etc.). However, accessing these capabilities requires the right technological infrastructure.
Why look for alternatives to platforms like Stripe
As a business grows, new needs emerge:
- Higher transaction volumes
- Cost optimization
- Scalability
- Better payment experience
In Spain, some payment platforms remain very popular, but many companies are exploring alternatives for several reasons. First, Stripe’s costs can become relatively high, especially for high-volume businesses or those with tight margins. Second, there are geographic limitations, as it does not operate with the same coverage in all markets. Fund holds or reserves can also be a critical issue for companies that rely on steady cash flow. Additionally, its technical complexity can be a barrier for teams with limited development resources. In some markets, it may offer fewer local payment methods, which can impact conversion rates. Customer support expectations also play a role. Finally, some businesses require more comprehensive solutions with broader functionality.
Types of PSPs in Spain
Not all PSPs are the same. They can be grouped into:
1. Traditional PSPs
They process payments and settle funds based on standard cycles. Their focus is on payment collection.
2. All-in-one PSPs
They include payments, subscriptions, and billing. Their focus is on management.
3. Specialized PSPs
They are tailored to specific e-commerce models or use cases. Their focus is on operations.
4. Liquidity-optimized PSPs
This is where a new category emerges. These PSPs not only process payments but also improve access to funds.
One example is Wannme. Wannme is not only a PSP that allows you to collect payments online and activate features like recurring payments or recovery, but it also advances your payments if you sell on marketplaces. In addition, Wannme enables companies to configure their virtual POS with their existing bank, significantly reducing costs.
What is Wannme
Wannme is a PSP designed to improve online payment processes for companies operating in digital environments. It allows businesses to process payments and access their revenue earlier, helping clients grow faster and more efficiently.
Unlike traditional PSPs, which only handle payment collection, Wannme also optimizes when you can use that money. In other words, if you sell on marketplaces, you can get paid earlier.
The mistake when looking for alternatives
Many companies switch PSPs to improve operations, but we recommend adopting a more comprehensive solution that optimizes the entire payment process, including recovery and reconciliation.
It can also be highly valuable to explore alternatives to solutions like Stripe, especially for companies that need a PSP that also optimizes liquidity—such as Wannme.
How to choose the best PSP in Spain
As mentioned earlier, there are different PSP models, and each company’s needs evolve over time. More advanced solutions allow you to optimize your operations, including recurring payments, recovery, and accounting reconciliation.
That’s why it’s important to choose the right technology from the start, as it can have a significant impact in the medium and long term. Solutions like Wannme can also help accelerate cash cycles in ecosystems such as marketplaces—giving you a competitive advantage by improving liquidity and reducing friction.
Want to learn more?
Get in touch with our team and we’ll show you how to integrate a complete PSP solution.
