# What is MONEI?

![What\_is\_MONEI.png](/assets/images/8419914598289-What-is-MONEI-d7f3bbb220d6561bc4bdd7a222d41a24.png)

### MONEI lets you manage your entire payment stack ([online](https://docs.monei.com/payment-methods/overview/.md) and [offline](https://docs.monei.com/monei-pay/overview/.md)) from one platform so you can:[​](#monei-lets-you-manage-your-entire-payment-stack-online-and-offline-from-one-platform-so-you-can "Direct link to monei-lets-you-manage-your-entire-payment-stack-online-and-offline-from-one-platform-so-you-can")

* Accept [card](https://docs.monei.com/payment-methods/card/.md) payments, but also [alternative](https://monei.com/blog/alternative-payment-methods/) and [local payment methods](https://monei.com/blog/local-payment-methods/) like [Bizum](https://docs.monei.com/payment-methods/bizum/.md), [Google Pay](https://docs.monei.com/payment-methods/google-pay/.md), [Apple Pay](https://docs.monei.com/payment-methods/apple-pay/.md), [Click to Pay](https://docs.monei.com/payment-methods/click-to-pay/.md), [Multibanco](https://docs.monei.com/payment-methods/multibanco/.md), and [other available payment methods](https://docs.monei.com/payment-methods/overview/.md)
* Save money on multiple integrations and engineering costs with a single [payment service provider (PSP)](https://monei.com/blog/what-is-a-psp/) and [dynamic pricing](https://monei.com/pricing/) (transaction fees decrease as your sales increase)
* Increase conversion rates by improving the customer [payment experience](https://docs.monei.com/integrations/use-prebuilt-payment-page/.md)
* Build a [cross-border e-commerce](https://monei.com/blog/cross-border-ecommerce/) business by accepting [cross-border payments](https://monei.com/blog/cross-border-payments/)
* Reduce risk and improve successful transaction rates with [payments orchestration](https://docs.monei.com/payments/orchestration/.md)
* Accept in-person payments in-store, at your [restaurant](https://monei.com/monei-pay/pos-systems-for-restaurants/), or on the go with [MONEI Pay](https://docs.monei.com/monei-pay/overview/.md) for NFC payments, or with [QR code payments](https://monei.com/qr/) for any payment method
* Process a high volume of transactions thanks to our serverless architecture that won the [AWS Startup Architecture of the Year](https://monei.com/blog/aws-startup-architecture-of-the-year-challenge-monei/) challenge

The e-commerce [integration](https://docs.monei.com/get-started/connect-monei-to-your-website/.md) process is quick and easy. Plug in with popular [e-commerce platforms](https://monei.com/page/payment-method-integrations-ecommerce-platforms/) like [Shopify](https://monei.com/shopify-payment-gateway/), [WooCommerce](https://monei.com/woocommerce-payment-gateway/), [PrestaShop](https://monei.com/prestashop-payment-gateway/), [Wix](https://monei.com/wix-payment-gateway/), [Magento (Adobe Commerce)](https://monei.com/magento-payment-gateway/) or connect your custom-built website and use the [Payments API](https://docs.monei.com/apis/rest/#tag/Payments) to start accepting more payment methods.

For physical payments, all you need is the [MONEI Pay](https://docs.monei.com/monei-pay/overview/.md) app (no website required).

MONEI employs an international team and is headquartered in Málaga, Spain.

tip

[Sign up for MONEI today](https://dashboard.monei.com/signup) to test payment methods and integrations. No commitment or payment info is required for testing.

## Why MONEI[​](#why-monei "Direct link to Why MONEI")

Grow your business with [MONEI’s omnichannel payment features](https://monei.com/features/) — and do it all from one platform.

### Key benefits of choosing MONEI as your payment service provider[​](#key-benefits-of-choosing-monei-as-your-payment-service-provider "Direct link to Key benefits of choosing MONEI as your payment service provider")

1. **Accept local and alternative payment methods** like [Bizum](https://docs.monei.com/payment-methods/bizum/.md), [MBWay](https://docs.monei.com/payment-methods/mb-way/.md), [Apple Pay](https://docs.monei.com/payment-methods/apple-pay/.md), [Google Pay](https://docs.monei.com/payment-methods/google-pay/.md), [Click to Pay](https://docs.monei.com/payment-methods/click-to-pay/.md), and [more](https://docs.monei.com/payment-methods/overview/.md) from a [single integration](https://docs.monei.com/get-started/connect-monei-to-your-website/.md).
2. Optimize your payments and **increase conversions** with real-time payment analytics.
3. **Save time** registering for a [Virtual POS](https://docs.monei.com/onboarding/connect-redsys-tpv-virtual/.md#what-is-tpv-virtual) from an acquiring bank with **built-in merchant-acquiring services**.
4. **Increase your transaction acceptance rate**, reduce risk, and build stronger relationships with acquiring banks with [payments orchestration](https://docs.monei.com/payments/orchestration/.md).
5. **Pay less** on transaction fees with [dynamic pricing](https://monei.com/pricing/).
6. [**Customize checkout**](https://docs.monei.com/manage-account/customization/.md) with your logo, branding, and domain, and **choose which payment methods customers** see based on their location, purchase history, or transaction amount.
7. Turn your [smartphone into a POS](https://docs.monei.com/monei-pay/overview/.md) so you can **accept physical payments** at events or in your permanent store. ([MONEI Pay](https://docs.monei.com/monei-pay/overview/.md))
8. MONEI’s serverless system was the **winner** of [Amazon’s AWS Startup Architecture of the Year Program (2020)](https://monei.com/blog/aws-startup-architecture-of-the-year-challenge-monei/).

**![Example MONEI hosted payment page with card, Bizum, and Google Pay options](/assets/images/payment-page-preview-c5f8d8b6b875a4e33a0ab33edda434d1.png)**

### How MONEI compares to competitors[​](#how-monei-compares-to-competitors "Direct link to How MONEI compares to competitors")

#### MONEI vs Shopify Payments[​](#monei-vs-shopify-payments "Direct link to MONEI vs Shopify Payments")

MONEI is the primary alternative to Shopify Payments and the only PSP that supports [Bizum for Shopify](https://monei.com/bizum-for-shopify/), a payment method that holds [36% of the payments market share in Spain](https://monei.com/blog/black-friday-cyber-monday-payment-trends-2023/).

[**Compare MONEI to Shopify payments**](https://monei.com/shopify-payments-alternative/)

#### MONEI vs Redsys[​](#monei-vs-redsys "Direct link to MONEI vs Redsys")

Unlike Redsys, MONEI helps you increase conversions by accepting more [alternative payment methods](https://docs.monei.com/payment-methods/overview/.md) through a personalized, secure, and reliable checkout.

[**Compare MONEI to Redsys**](https://monei.com/redsys-alternative/)

#### MONEI vs Stripe[​](#monei-vs-stripe "Direct link to MONEI vs Stripe")

Switch from Stripe to MONEI to [spend less on transaction fees](https://monei.com/pricing/), accept [Bizum](https://monei.com/blog/reasons-to-accept-bizum/), and get personalized support from payments experts with local experience in Spain.

[**Compare MONEI to Stripe**](https://monei.com/stripe-alternative/)

## How MONEI works[​](#how-it-works "Direct link to How MONEI works")

[MONEI](https://docs.monei.com/get-started/what-is-monei/.md) is a fintech company that helps [omnichannel](https://monei.com/blog/omnichannel-commerce/) merchants accept more [alternative](https://monei.com/blog/alternative-payment-methods/) and [local payment methods](https://monei.com/blog/local-payment-methods/) online, in-store, and on the go.

**Here's an illustration of how the payment flow works and the parties involved:**

![Flow.png](/assets/images/10137819790737-Flow-5353825e34d1451aa6a874b3d556f950.png)

note

Consult our [payments glossary](https://docs.monei.com/glossary/.md) and the list of resources below for more technical information about payments.

### How does MONEI work?[​](#how-does-monei-work "Direct link to How does MONEI work?")

MONEI is a [payment service provider (PSP)](https://monei.com/blog/what-is-a-psp/) that aggregates [payment methods](https://docs.monei.com/payment-methods/overview/.md) and processors into a single platform. Our software [integrates](https://docs.monei.com/get-started/connect-monei-to-your-website/.md) with e-commerce solutions like [Shopify](https://monei.com/shopify-payment-gateway/), [Adobe Commerce (formerly Magento)](https://monei.com/magento-payment-gateway/), [PrestaShop](https://monei.com/prestashop-payment-gateway/), [Wix](https://monei.com/wix-payment-gateway/), and [WooCommerce](https://monei.com/woocommerce-payment-gateway/). Our [payments API](https://docs.monei.com/apis/rest/.md) also makes it easy to connect with custom-built e-commerce websites.

You can [customize the appearance of your payment page](https://docs.monei.com/manage-account/customization/.md) and because it's dynamic, it will only show relevant payment methods to customers. For example, if they're using an iOS device, [Apple Pay](https://docs.monei.com/payment-methods/apple-pay/.md) will be available while [Google Pay](https://docs.monei.com/payment-methods/google-pay/.md) will be hidden (and vice versa if the customer is paying from an Android device).

### Plans and sectors[​](#plans-and-sectors "Direct link to Plans and sectors")

With [MONEI](https://docs.monei.com/manage-account/monei-fees/.md), merchant acquiring is built-in. This means you don't have to request a [Virtual POS](https://docs.monei.com/onboarding/connect-redsys-tpv-virtual/.md#what-is-tpv-virtual) (also known as a merchant ID) from the bank. All you have to do is [sign up for MONEI](https://dashboard.monei.com/signup) and once your account has been approved, you can start transacting.

You can use [payments orchestration](https://docs.monei.com/payments/orchestration/.md) if you'd like to improve your transaction approval rate by [routing online payments](https://docs.monei.com/payments/orchestration/.md) to different processors. To do this, you'll need to obtain a Virtual POS from your bank. It's recommended for enterprise e-commerce businesses with high transaction volumes.

Our [payments platform supports omnichannel merchants](https://monei.com/omnichannel-payments-platform/) meaning whether you only sell online or also have a [physical store](https://monei.com/monei-pay/retail-POS-system/), sell at pop-up shops, or run a service-based business (like a [taxi driver](https://monei.com/monei-pay/pos-systems-for-taxis/), [restaurant](https://monei.com/monei-pay/pos-systems-for-restaurants/), [dentist](https://monei.com/monei-pay/accept-payments-dental-practice/), or [freelancer](https://monei.com/monei-pay/pos-for-freelancers/)), we can help you accept payments (and a range of [customer-preferred methods](https://docs.monei.com/payment-methods/overview/.md)).

### Physical payments[​](#physical-payments "Direct link to Physical payments")

![Accepting an in-person payment in the MONEI Pay app](/img/monei-pay/en/iphone-5.png)

For in-person payments, you don't need to worry about expensive and bulky POS hardware. With [MONEI Pay](https://docs.monei.com/monei-pay/overview/.md), you can turn a compatible phone into a payment terminal and accept [Tap to Pay](https://docs.monei.com/monei-pay/using-the-app/.md#tap-to-pay) payments from contactless cards and digital wallets using the MONEI Pay mobile app. You can also accept [QR code payments](https://docs.monei.com/monei-pay/using-the-app/.md#qr-payments) from the app or web app, or use [Pay By Link](https://docs.monei.com/payments/pay-by-link/.md) to send payment requests to customers via [email](https://monei.com/blog/email-payment-link/), SMS, or WhatsApp.

### Payment security[​](#payment-security "Direct link to Payment security")

You can always leave payment security to us. MONEI is [PCI DSS Level 1](https://monei.com/pci-dss/) and [PSD2](https://monei.com/blog/psd2/) compliant and has [3D Secure 2.0.](https://docs.monei.com/fraud-prevention/3d-secure/.md) authentication. You'll never have to worry about compromising sensitive payment data or personal information.

### Additional resources[​](#additional-resources "Direct link to Additional resources")

* [What is a Payment Gateway? Why You Need One & How it Works](https://monei.com/blog/what-is-a-payment-gateway/)
* [Payment Gateway vs Payment Processor](https://monei.com/blog/payment-gateway-vs-payment-processor/)
* [Acquiring Bank vs Issuing Bank: 3-Minute Guide](https://monei.com/blog/acquiring-bank-vs-issuing-bank/)
* [How to Accept Card Payments on Your Phone](https://monei.com/blog/accept-card-payments-on-phone/)
* [A Simple Guide to Accepting Credit Card Payments Without a Merchant Account](https://monei.com/blog/accepting-credit-card-payments-without-merchant-account/)

## Business types[​](#business-types "Direct link to Business types")

MONEI provides payment services to small and medium-sized businesses in a range of sectors. Here's an overview of our products and the industries that use them:

**[Payment gateway](https://monei.com/payment-gateway/) (online payments)**

* E-commerce merchants

**[MONEI Pay](https://docs.monei.com/monei-pay/overview/.md) (physical payments)**

* Retailers
* Restaurants
* Hotels
* Freelancers

**[MONEI Connect](https://docs.monei.com/partners-connect/about/.md) (integrated payments)**

* Business platforms and marketplaces in retail, hospitality, entertainment, and digital products

**[Recurring payments](https://monei.com/features/recurring-payments/) and [subscriptions](https://docs.monei.com/subscriptions/overview/.md)**

* SaaS companies
* E-commerce (WooCommerce)