MONEI: how it works, advantages and alternatives for ecommerce

If you run an e-commerce business, you know that the checkout stage is the most critical. It's where a sale is won or lost.

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

In fact, Monei Shopify eliminates friction at checkout so customers can shop seamlessly and businesses can get paid instantly.

What is MONEI?

Let's start with the basics. It's a Spanish payment gateway, founded in Malaga in 2015. Essentially, It's a fintech company that helps online stores, and brick-and-mortar businesses, to accept payments easily, securely, and without complications.unnecessary.

What makes it interesting is that it is designed specifically for the Spanish and Southern European market.

Come on, which is like an "all-in-one"You simply connect your store (whether it's 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 storewithout sending them to strange external pages, which greatly helps prevent them from abandoning their shopping cart.

Monei Payments: how it works for ecommerce

This platform is fast, secure, and offers several payment methodsBut how exactly does it work? In this section, I'll explain it step by step:

A single integration for everything (goodbye to complexity)

The magic of this Monei is that Its dashboard acts as a payment orchestrator. In other words, 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 accept everything from 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 y 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 seamless. 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 like Bizum): The customer chooses Bizum, enters their mobile number and is briefly redirected to the secure gateway of the page to confirm the payment from their bank app.

Safety without headaches (Complies with everything)

Are you worried about security and the infamous PCI DSS? With this processor, that's no longer your concern. 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 the two-step authentication regulation.

To do this It uses 3D Secure 2.0, It verifies the client without the need for strange redirects and, best of all, it doesn't store sensitive card data on your server. The data travels directly to a secure environment (iframe).

The extra touch that will make you sell more: Bizum and 24h settlement

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

First of all, with almost 30 million users in SpainNot offering Bizum is leaving money on the table. In fact, it allows you to activate it natively at no extra cost.

And if that weren't enough, you get paid the next day, and once you're a verified business, you settle your sales within 24 hours. No more waiting a week to see your money.

Personalization that makes it feel like you never leave your website

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

The customer starts on your store, and even after processing the payment, the URL will still redirect to your store. And yes, this eliminates any misgivings about seeing an unfamiliar URL.

Who is it ideal for?

The app's versatility makes it useful for almost any business that collects payments in person:

• Retail businesses: to collect payment 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 self-employed individuals: for electricians, plumbers, designers, private tutors or any home service.
• Taxis and transport services: to collect fares using your own mobile phone, without an additional card reader.
• Hairdressers and beauty salons: It allows the customer to be charged comfortably from their chair.

As you can see, if your priority is to offer the payment methods that Spaniards use daily and to get the money into your pocket quickly, this tool is undoubtedly one of the best alternatives on the European market.

Monei: real user reviews

Of course, for this article I'm not just going to rely on 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 shops and SMEs selling in the local market. The average rating is usually around... 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 had everything up and running with Shopify or WooCommerce. One user commented: “It’s very easy to install on Shopify and the account was verified in less than 24 hours.”

Bizum is the main protagonist.

Several merchants say that since it was added, Their conversion rate increased considerably. because many Spanish customers prefer to pay with Bizum instead of by card.

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

Friendly support in Spanish

This is a recurring theme: fast, effective service without having to speak to someone in another country. "Super intuitive and easy to use," "the best online payment aggregator out there" are phrases that appear frequently.

Quick Clearances

In 24 hours and with commissions that decrease as you sell more. Many people like that there aren't high fixed monthly fees.

Money App is available.

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

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

What some mention as weaknesses:

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

Payment methods available for your online store

Here's the key advantage. The app or website allows you to collect payments using the methods your customers already use every day:

How do I start using it?

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

1. Register at MONEI, without commitment and without needing to provide bank details at the beginning.
2. Download the MONEI Pay app from Google Play (Android) or the 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 brick-and-mortar businesses or freelancers who want to accept payments via Bizum, card, or Apple Pay without being tied to a traditional POS rental contract.

What are the main alternatives to MONEI for ecommerce?

However, not everything is perfect; the platform doesn't work very well for high-risk payments, in which case it's best to opt for other more reliable alternatives, including:

1. RiskPayGo

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

Its main differentiator is that uses cryptocurrencies as a payment gateway, 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 it's an ideal option for businesses starting out or selling internationally, thanks to the trust it generates among buyers and its very easy integration into any ecommerce platform.

However, its fees are higher than MONEI's, the settlement of funds 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 strongest alternatives to MONEI, especially for businesses 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're still unsure which is the best alternative to Monei, 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 businessMura, if you sell in Spain or Portugal, want to offer Bizum, need 24-hour settlement, and are looking for a checkout with your brand, yes, MONEI is one of the best options available.

However, if you sell globally, need very specific payment methods, or your business is high-risk, it's best to choose RickPayGo And that way you'll have the peace of mind you're looking for for your business.

Frequently Asked Questions

Is this payment orchestrator easy to use?

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

Which alternative to MONEI is best for your ecommerce?

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

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

Transaction only. 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.