Fondy vs Autopay: Key Differences Between Payment Platforms Explained

If you are planning to launch an online store or want to sell any services with immediate payment by transfers or credit cards, you need to connect so-called payment gateways. Each of the popular companies on the market offers slightly different conditions, so Rates experts decided to present the most important fees so that you can compare the offers in Rates – currency rates and financial media.

This is a very general offer and everything depends on the requirements of a particular company. If you are interested in, for example, specific payment cards or micropayments or fees for a specific turnover or foreign payments, you need to find out individually what it looks like. Let’s start.

Fondy: Features and Benefits

Let’s start with a platform that is known for its wide range of foreign payments and excellent merchant service. Fondy has features such as card payments and wire transfers, and will soon introduce installments, with 915.61k pounds in annual revenue in FY 2020. Fondy also has no activation cost. Anyone can test the platform for free and easily connect it to their store thanks to ready-made integrations.

Payment options for companies abroad

The Fonda online payment platform will especially appeal to entrepreneurs who think globally and offer their products in foreign markets. Fondy will allow you to conduct foreign transactions and accept commissions in more than 100 currencies without unnecessary conversion. The system has no regional blocking, so it supports payments from anywhere in the world.

Fondy Features

For a better understanding of the platform’s benefits, the Rates team summarized the main attractive advantages of the Fondy online payment solution into this clear list:

• No activation fees
• Commission for electronic transfer (Pay-By-Link): 1.4% + 0.2 euros 
• Payment by card: 1,8% + 0,2€ 
• Payment by QR code
• Supported by VISA and Mastercard card types
• PayPal integration
• Easy integration with an online store
• Possibility to create recurring payments for customers
• The fee for the return to the client is 0.5 euros 
• The payment refund is 15 euros
• White Label function
• Transfers from foreign accounts accepted
• Possibility to accept transfers in 100+ currencies. You can withdraw EUR, PLN, USD, GBP, CZK, and HUF without currency conversion. The rest can be converted at the lowest possible interbank rates.
• Good contact with customer support

In addition, let’s also note the disadvantages of Fondy:

• No free withdrawals from the account
• Commission for the return of funds to the client
• The price depends on the euro exchange rate

Autopay: Features and Benefits

Autopay is an online payment platform known for its flexible terms of use, especially for users who do not yet have business requirements because they have not started their own business. As such, Autopay allows you to work with individual customers, which is great if you’re still in the process of registering a business, for example.

Flexible terms and conditions

If you contact Autopay, at the very beginning you will be asked what the turnover of our store is to negotiate a commission in pricing. It is very nice of the supplier to offer negotiations at the very beginning, so if you can estimate or present your store’s turnover, it is worth trying to get a more attractive commission rate at the first contact. 

A payment gateway without entrepreneurial activity

The online payment platform Autopay offers services such as bank transfers, e-transfers, card payments, and mobile payments (including Google Pay). As we mentioned earlier, a big advantage is the ability to sign up without running your own business, but you still have to pay an activation fee. 

Platform advantages:

• Commission for electronic transfer (Pay-By-Link): 1.19% (this is a base rate that can be negotiated depending on the store’s turnover)
• Commission for electronic transfer: 1.19% (this is a base rate, which is negotiable depending on the store’s turnover)
• Unlimited number of free withdrawals per month 
• Supported Visa, and MasterCard card types
• Types of mobile payments: Apple Pay, Google Pay
• Withdrawal speed: one business day (payments can be agreed regularly or periodically, for example, weekly)
• Possibility of processing recurring payments for customers
• The test account is available
• Integration with CMS is possible: YES (Magento, PrestaShop, WooCommerce, opencart, shopware, Sylius, cs.cart)
• No fee for customer returns
• Payment refund
• No direct billing
• Payment deferral period
• Currency conversion is required for currencies other than euro, US dollar, and pounds sterling. There is also the possibility of opening an account with a settlement for transactions that transfer to a euro account
• Possibility to cooperate without registered business activity – note: depends on the platform on which the store operates
• Opportunity to negotiate better conditions
• There are many available integrations, such as PayPal and White Label
• No fees for returning payments to the customer
• A large number of non-standard payment options exist, such as prepaid payment, the ability to block funds on the account as a deposit, deferred payment, and installments

Cons of Autopay:

• Activation fee 
• No QR code Payment
• High commission – 1.19% (but the operator allows you to negotiate the rate at the start)

Conclusion

The choice between Fondy and Autopay depends on the specific needs of your business. Both platforms have additional advantages and disadvantages, so it is recommended to carefully evaluate your needs and the possibilities of integration with your online store before making a final choice. With this article, you can check whether the online transaction platform supports integration or other critical points with your online store. If you are not sure, contact the Rates.fm team to assist in online payment management.