MONEI: how it works, advantages and alternatives for ecommerce

If you manage an ecommerce, you know that the checkout moment is the most critical. It’s where a sale is won or lost.

That's where it comes in MONEI, a Spanish fintech (founded in 2015) that fully manages online payments. 

In fact, Monei Shopify removes friction at checkout so customers can buy hassle-free and businesses get paid instantly.

What is MONEI?

We start with the basics. It is a Spanish payment gateway born in Málaga in 2015. In essence, is a fintech that helps online stores, and also physical businesses, accept payments easily, securely, and without complicationsunnecessary.

What makes it interesting is that it is designed especially for the Spanish market and Southern Europe.

Come on, which is like an “all in one”, since you simply connect your store (whether Shopify, WooCommerce, PrestaShop, Wix or even a custom-built website) and from there you can accept cards, Apple Pay, Google Pay, PayPal, Bizum and other popular methods.

The customer pays directly inside your store, without sending them to weird external pages, which helps quite a bit to prevent them from abandoning the cart.

Monei Payments: how it works for ecommerce

This platform is fast, secure, and has multiple payment methods. But how exactly does it work? In this section I explain it to you step by step:

One single integration for everything (goodbye to complexity)

The magic of this Monei is that your dashboard acts as a payment orchestrator. That is, instead of installing one plugin for cards, another for PayPal, and another for Bizum, you only need a single integration.

You connect the platform to your ecommerce and, automatically, you can already accept everything from the typical credit cards (Visa, Mastercard) and digital wallets (Apple Pay, Google Pay) to local methods such as Bizum, MB Way (Portugal) or Multibanco.

And pay attention to this detail: this integration works with the most popular platforms on the market, because it has official and fully compatible plugins for:

• Shopify.
• WooCommerce.
• Adobe Commerce (Magento).
• PrestaShop and Wix.

This is how a transaction is processed

When a customer decides to buy from your store, the process with this payment gateway is very smooth. Basically, it works in two ways, depending on the payment method:

➡️ Integrated mode (without leaving your store): It works for cards, Apple Pay or Google Pay, and the customer sees a compact payment form directly on your checkout page.

➡️ Redirected mode (for methods such as Bizum): The customer chooses Bizum, enters their mobile number, and is briefly redirected to the page's secure payment gateway to confirm the payment from their bank app.

Security without headaches (Comply with everything)

Are you concerned about security and the famous PCI DSS? With this processor, that is no longer your problem. In fact, they take care of everything.

The tool is PCI DSS Level 1 (the highest level of security) and complies with the European PSD2 regulation, which is two-factor authentication.

For that uses 3D Secure 2.0, that verifies the customer without the need for strange redirects and, best of all, does not store sensitive card data on your server. The data travels directly to a secure environment (iframe).

The extra feature that will help you sell more: Bizum and settlement in 24h

These two features make it an ideal option for businesses in Spain.

First of all, with almost 30 million users in Spain, not offering Bizum is leaving money on the table. In fact, it allows you to activate it at no extra cost, natively.

And as if that weren’t enough, you get paid the next day and, once you’re a verified merchant, you settle your sales in 24 hours. No need to wait a week to see the money.

Customization that makes it seem like you never leave your website

The platform allows you to customize the high-risk payment gateway with your logo, your colors and even your own domain.

The customer starts in your store and, even though the payment is processed, the URL will still be paying in your same store. And yes, this eliminates the distrust of seeing a strange URL.

Who is it ideal for?

The app’s versatility makes it useful for almost any business that accepts in-person payments:

• Retail businesses (retail): to charge at the counter or even while the customer is in the store, avoiding queues.
• Hospitality (restaurants, bars, food trucks): ideal for collecting payment directly at the table or at events.
• Professionals and freelancers: for electricians, plumbers, designers, private tutors or any home service.
• Taxis and transportation services: to charge for trips with your own mobile phone, without an additional card reader.
• Hair salons and beauty salons: allows you to charge the customer comfortably from your chair.

As you can see, if your priority is to offer the payment methods that Spaniards use every day and to have the money reach your pocket quickly, the tool is, without a doubt, one of the best alternatives on the European market.

Monei: real user reviews

Of course, for this article I’m not going to stick to the typical marketing reviews; I’ve looked at real opinions on Google Maps, forums, Capterra, GetApp, and user comments on Shopify and WooCommerce.

The truth is that most of the reviews are very positive, especially among Spanish stores and SMEs that sell in the local market. The average score usually hovers around the 4.4 and 4.8/5 according to the platforms.

What users like most:

Now let’s look at the advantages that users highlight:

The integration is very simple

Many say that in less than an hour they already had everything working with Shopify or WooCommerce. A user commented: “It installs very easily on Shopify and in less than 24 hours the account was already verified”.

Bizum is the main star

Several merchants say that since they added it, your conversion rate increased quite a lot because many Spanish customers prefer to pay with Bizum instead of by card.

A store literally said in its review that it helped increase conversion and gives options to all customers. The commissions are lower and support in Spain is very efficient”.

Close and Spanish-language support

This comes up a lot: fast, effective support without having to speak to someone in another country. “Super intuitive and easy to use,” “the best online payment aggregator there is” are phrases that appear often.

Quick payouts

In 24 hours and with commissions that decrease as you sell more. Many people like that there are no high fixed monthly fees.

You have Money App available

The tool has a mobile app called MONEI Pay, available for both Android and iOS.

But it’s not just any app. The interesting thing about the application is that you don’t need an online store or a traditional card reader to use it. In fact, by simply downloading it on your mobile phone or tablet, you can start accepting payments instantly.

What some mention as weaknesses:

• For new accounts, sometimes they ask for extra documentation (as registered with the tax authority) from the first day, which may slow down the start a little.
• In isolated cases, someone has commented that technical support can be a little slow if the problem is very technical or with the API.
• If you sell a lot outside Spain, some prefer Stripe for its international coverage, although they acknowledge that MONEI is cheaper here.

Available payment methods for your online store

Here’s the key point. The app or website lets you collect payments using the methods customers already use every day:

How do you get started?

The process is very simple and you don’t need to go through the bank:

1. Sign up for MONEI, with no commitment and no need to provide bank details at the beginning.
2. Download the MONEI Pay app from Google Play (Android) or App Store (iOS).
3. Set up your account and customize the checkout page with your logo and brand colors.
4. Start getting paid! Generating a QR code or using contactless payment.

Everything is done in minutes and is useful for physical businesses or freelancers who want to accept payments with Bizum, card, or Apple Pay without being tied to a rental contract for a traditional POS terminal.

What are the main alternatives to MONEI for ecommerce?

As not everything is a bed of roses, the platform does not work very well for high-risk payments, in which case it is better to opt for other more reliable alternatives, among which are:

1. RiskPayGo

RiskPayGo is presented as an alternative for high-risk businesses that are often rejected by traditional payment gateways.

Its main differentiator is that use cryptocurrencies as a payment bridge, settling instantly in USDC and completely eliminating the risk of chargebacks.

2. PayPal

On the other hand, PayPal is the global giant of online payments and an ideal option for businesses that are just starting out or selling internationally, thanks to the trust it builds among buyers and its very easy integration with any ecommerce platform.

However, its fees are higher than MONEI's, fund settlement can take several days, and it is known for freezing accounts or withholding payments when it detects activity it considers suspicious.

3. Mollie

Mollie is a European payment gateway which has become one of the most solid alternatives to MONEI, especially for merchants looking for simplicity and a wide variety of payment methods.

Originally from the Netherlands, it is one of the most comprehensive because it offers more than 35 different payment methods, including cards, PayPal, Apple Pay, Google Pay, and local European methods such as Klarna, Sofort, and Bancontact.

Express comparison table: MONEI vs. alternatives

If you still don’t know which is the best alternative to Monei, it’s a good idea to take a look at the following comparison table:

Final decision: Is MONEI the best option for your ecommerce?

The final answer is that depends on your business. Mura, if you sell in Spain or Portugal, you want to offer Bizum, you need settlement in 24 hours, and you're looking for a checkout with your brand, yes, MONEI is one of the best there is.

However, if you sell globally, need very specific payment methods, or your business is high risk, the best thing is that you opted for RickPayGo and thus you will have the peace of mind you are looking for for your business.

Frequently Asked Questions

Is this payment orchestrator easy to use?

Yes, simple. It has ready-made plugins for Shopify, WooCommerce, PrestaShop, and Wix, where you just install it, paste your keys, and you can start charging.

What alternative to MONEI is the best for your ecommerce?

It depends. For standard business in Spain, none is better than MONEI. For global sales, Stripe or Mollie. For high risk, RiskPayGo (with caution). To get started quickly and sell internationally, PayPal.

Does the platform charge a monthly fee or only per transaction?

Only per transaction. No monthly fee or maintenance costs.

Does this integrated payment gateway comply with PCI DSS and PSD2?

Yes. MONEI is PCI DSS Level 1 (the highest) and complies with European PSD2 regulations through 3D Secure 2.0.