Shopify allows businesses or individuals to open their own online store and distribute products far and wide, while Paymill is an online payment processor founded in Germany last year.
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The deal comes as Shopify tries to grow its Far East and European user base, which is perhaps what made a partnership with Paymill an attractive proposition. It already operates across the whole of Europe and can process transactions in more than 120 currencies, Jörg Sutara, Managing Director of Paymill, explained to TheNextWeb.
Indeed, Sutara said the two companies had only been in talks for about six or seven weeks before striking a deal as it quickly became obvious there were a number of “strategic fits” between the businesses.
Easy does it
One of the other appealing aspects of Paymill’s service in comparison to some other rival payment processors is the ease of integration.
“The whole philosophy of Paymill is making everything as easy as possible. When you look at our API, which is super-easy to integrate – we’ve had customers that have integrated Paymill into their website within two hours. The API is really straight forward,” Sutara said.
“To give you a comparison and put it in perspective, if you look at the PayPal technical documentation it’s around 100 pages long and if you look at the Paymill documentation it’s about 11 pages long. Everything is just much, much easier.”
In order to make sure everything was working correctly ahead of launch, the two companies quietly tested it in beta for a couple of weeks to iron out any issues, Sutara added.
While Paymill has a fight on its hands in the online payments market, its position is strengthened by today’s deal, which will see it take its usual 2.95 percent of the transaction plus 28 Euro cents on every payment it processes for Shopify-based stores.
That said, with Stripe’s recent European expansion, Paymill will want to do all it can to put a stake in the ground.
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