Buckaroo vs Mollie: Which is the better payment provider?

Note that the information about ​​Mollie and Buckaroo found in this article was taken from their respective websites on 21 June 2024. This information is subject to change.

​​Mollie and Buckaroo are two leading Dutch payment providers that offer their services to thousands of businesses across Europe.

Mollie was founded in 2004 to provide a “more direct, affordable way” for companies to get paid than traditional banking solutions.

Today it serves more than 200,000 businesses across Europe and employs 750 people, including product, finance, support, commerce and engineering specialists.

Buckaroo, meanwhile, started life a year later in 2005. According to the company, its platform is used by more than 30,000 organisations.

It has been expanding its reach by acquiring several companies that focus on the small business (SME) market. This list includes Sisow and SEPAY.

So, which one is best? They each boast years of experience, impressive customer numbers, and a focus on continually developing their payment solutions.

This means choosing between them is difficult for merchants as making the right decision will depend on factors such as cost and ease of payment integration.

Here is our comparison of Mollie and Buckaroo in terms of their product ranges, payment processing solutions, integration capabilities, charges and other various pros and cons.

Mollie vs Buckaroo Payments

Customers can expect a similar level of experience from both companies when it comes to the various payment methods.

Compare Buckaroo and Mollie

It can be difficult to accurately compare platforms as the scope – and type of services offered – tend to differ between rival providers.

Here we highlight some key features.

Mollie dashboard: This is an all-in-one hub that enables merchants to manage payments, get insights and streamline their accounting.

Mollie invoicing: This enables businesses to create invoices for customers that can be saved and accessed via the Mollie dashboard. It also allows reminders to be sent out.

Buckaroo debtor management: Merchants can use the system to send, collect and follow-up outstanding invoices with payment reminders.

Buckaroo customised solutions: Buckaroo develops payment solutions that can be tailored to an organisation’s established processes.

Buckaroo vs Mollie Pricing

Let’s now look at the charges involved for each payment provider. We have looked at some of the main transaction rates charged.

However, you should visit each company’s website for a complete breakdown of the latest applicable rates as part of your research.

Mollie fees: Mollie offers two pricing packages: standard and volume.

Standard has no minimum costs, lock-in contracts or hidden fees. It also states that you only pay per transaction – and only for those that are successful.

Volume pricing, meanwhile, is aimed at those processing more than €100,000 a month and comes with a dedicated account manager, country-specific rates and multi-product discounts.

As far as its pricing for an online transaction or in-person payment is concerned, these vary.

For example, it’s 1.80% + €0.25 for a Mastercard credit card in the European Economic Area (consumer cards) but a higher percentage (2.90%) for commercial cards and the same + €0.25.

Buckaroo fees: Buckaroo also offers a wide variety of prices, depending on the preferred payment method and the chosen market.

There are also deals on offer depending on the size of business. For example, special rates are available for companies with high monthly transaction numbers.

As far as its pricing for transactions are concerned, Apple Pay (worldwide) costs a fixed €0.25 plus an additional + 2.63%.

Consumer credit cards (EU) meanwhile, cost €0.25 plus an additional + 1.80%, while American Express (worldwide) is €0.25 plus 2.90%.

Mollie payment gateway integration

It has become increasingly important for businesses to be able to integrate the services of their preferred payment provider into their existing infrastructure.

Mollie claims to offer more than 120 ready-made integrations that enable merchants to efficiently run their businesses and monitor cash flow.

Examples include Opencart, a free and open-source e-commerce platform and Xero, whose benefits include automatically reconciling settled invoices.

Buckaroo, meanwhile, also offers access to a wide variety of plugins and integration possibilities that can save merchants a lot of costs and time in developing.

These include Odoo, which is an all-in-one business management software that offers features such as CRM, accounting and inventory management.

Mollie vs Buckaroo payment processing

Payment processing is a vital part of any business, whether the organisation operates solely online, in person at events, or a combination of both approaches.

For regular customers, there’s a focus on recurring payments and both Mollie and Buckaroo recognise they are becoming more popular within ecommerce.

Mollie enables businesses to create flexible, scalable subscription plans to help drive revenue and allows them to collect regular fixed payments, as well as one-off sums.

Its payment processing can also be tailored for specific industries. For example, flexible billing is available for digital grocery stores, digital downloads, and even memberships of sports clubs.

Buckaroo also enables recurring payments or subscriptions. It offers Smart Subscription Solutions, which enable subscription models to be set up for both products and services.

In the next section, we explore some key elements of payment processing: in-person solutions, security and general cash flow management.

Buckaroo and Mollie: In-Person Payment Solutions

In-person payment solutions are important for a wide variety of businesses of all sizes, including retailers and food providers selling at festivals and markets.

Mollie offers mobile and kiosk terminals for customers, although this isn’t currently available to those based in the UK at the moment.

The mobile terminal can be used with 4G and WIFI mobile connection, while the kiosk terminal is run via an ethernet connection, can be mounted in kiosks, and is said to be vandal-proof.

Buckaroo also offers a range of payment terminals that can be purchased or leased over one, three or five year periods.

For example, the Buck Mobile benefits from low monthly fees, doesn’t require installation, and is delivered within 24 hours.

Payment Security and Cash Flow

Mollie’s ‘Acceptance & Risk’ solutions help combat the scourge of fraud, which is always a pressing concern for merchants of all sizes.

Machine learning algorithms help detect and prevent fraud, while card sales can be optimised by reducing friction for trusted customers.

Similarly, Buckaroo can assist merchants when subscriptions haven’t been paid. Its automated credit management process can contact customers regarding outstanding amounts.

Such a payment request – or reminder – can be sent via several communication channels, along with a number of payment methods.

Alternatives to Mollie and Buckaroo

This is a growing marketplace and that means the competition is fierce among providers. The good news is this means there’s plenty of choice for potential customers.

Noda is a global open banking provider that assists online merchants with end-user KYC, payment processing, LTV forecasting and UX optimisation.

We partner with 2,000 banks across 28 countries, spanning over 30,000 bank branches and support a wide range of currencies for globally focused clients.

Noda’s Open Banking API enables online businesses to easily integrate direct bank payments and offer customers a seamless payment experience.