Start with the payment methods your customers already use
Before you compare providers, list the payment methods that are popular in your target country. In Brazil that means Pix and boleto; in Mexico it means OXXO cash vouchers and SPEI bank transfers; in Indonesia it means QRIS and e-wallets like GoPay, OVO and DANA. If a PSP cannot offer the local rails your buyers expect, you will lose sales at checkout no matter how good its dashboard looks. A provider that only supports international cards is not enough in most emerging markets, because many shoppers either have no card or strongly prefer paying with a local bank app, wallet, or cash. Ask each candidate for a country-by-country method list and confirm the specific rails you need are live, not 'coming soon'.
- List the top 3 to 5 payment methods in your target market before shortlisting providers.
- Confirm each method is live and supported for your business type, not just listed on a website.
- Prefer providers with direct local connections over those routing everything cross-border.
- Remember that cards often decline more when processed internationally, so local rails usually convert better.
Check country and license coverage
A PSP may advertise 'global coverage' but still lack a license, local entity, or settlement path in the country you want. Coverage is not binary. Some providers can accept payments in a country but can only pay you out in a foreign currency through a cross-border flow, which is slower and costlier. Others operate through a local acquiring license and settle in the local currency. Check whether the provider is regulated in that market, whether it supports your industry (some forbid gaming, forex, or adult content), and whether it can onboard a foreign merchant or requires a local company. If you do not have a local entity, you will need a provider that supports cross-border collection or a merchant-of-record model.
- Verify the provider is licensed or partnered with a licensed acquirer in the target country.
- Check industry restrictions; some providers block gaming, content, or crypto-related sales.
- Ask whether settlement is local or cross-border, and what currency you will be paid in.
- Confirm the provider can onboard a foreign merchant if you have no local company.
Understand fees before you commit
Public pricing is only a first filter. Actual pricing changes with country, industry, volume, settlement currency, integration method and contract terms. Confirm against the provider's official pricing page or a written quote before you go live. Beyond the headline percentage, look at per-transaction fixed fees, foreign-exchange margins, payout fees, chargeback fees, and any monthly minimums or setup costs. A low card rate can be wiped out by a wide FX spread or high dispute fees. Ask for a worked example based on your real average ticket and volume, and compare effective cost per cleared transaction rather than the advertised rate alone.
- Request a written quote tied to your volume, industry, and settlement currency.
- Compare effective cost per successful transaction, not just the headline rate.
- Watch for FX spread, payout fees, chargeback fees, and monthly minimums.
- Public pricing is only a first filter; real terms come from a written offer.
Settlement currency, payout speed, and FX
How and when you get paid matters as much as how much you pay to get paid. Some PSPs settle in the local currency into a local account; others convert to your home currency and pay out in days or weeks. Longer settlement means more working-capital pressure, and every currency conversion adds an FX cost and rate risk. Ask for the payout schedule in business days, the currencies you can hold, and whether you can keep a balance in the local currency to avoid forced conversion. If you sell in many countries, a provider with multi-currency accounts lets you hold foreign earnings and convert only when the rate is favorable.
- Ask for the exact payout schedule in business days per country.
- Find out which currencies you can hold and whether conversion is mandatory.
- Compare FX margins; small differences compound across thousands of transactions.
- Multi-currency accounts reduce forced conversions and timing risk.
Integration, support, and onboarding
A provider is only useful if you can connect it and get help when something breaks. Check the integration options: hosted checkout, SDK, or API. If you sell through a platform like Shopify or a mobile app, confirm there is a ready plugin or a documented app-to-web flow. Equally important is human support in your time zone and language, plus clear documentation. Onboarding for a new country can take days to weeks depending on compliance checks, so ask about the expected timeline and the documents you will need. A provider that is cheap but unreachable during an outage will cost you more than a slightly pricier one with real support.
- Confirm integration paths: hosted checkout, SDK, API, or platform plugin.
- Ask about support hours, language, and whether you get a named contact.
- Request the onboarding timeline and the document checklist up front.
- Test the documentation and sandbox before signing anything.
Make a shortlist and run a pilot
Do not pick on a spreadsheet alone. Shortlist two or three providers, then run a live pilot in the new country with real (small) traffic. Measure what actually happens: authorization and conversion rates, time-to-settlement, dispute handling, and the clarity of reports. A pilot surfaces hidden issues like method outages, reconciliation gaps, or slow support that a sales call never reveals. Only after the pilot should you sign a longer commitment. Keep one backup provider connected so a single outage or frozen account does not stop your revenue.
- Run a live pilot with real traffic before signing a long contract.
- Track conversion, settlement time, disputes, and report clarity.
- Keep a backup provider connected to avoid single-point failure.
- Negotiate volume-based pricing once you have real data.
Questions merchants ask
Do I need a local company to use a PSP in a new country?
Not always. Many PSPs and specialized cross-border providers can onboard a foreign merchant and collect in local methods through a cross-border or merchant-of-record setup. In some markets a local entity is required for certain regulated methods or for the best pricing, but cash, wallet, and instant-bank rails can often be reached without one. Check the specific country and method before assuming you must incorporate.
Is the cheapest PSP the best choice for a new market?
Usually no. A low headline rate can be offset by wide FX spreads, high payout or chargeback fees, and poor local-method coverage that lowers your conversion. The right comparison is effective cost per cleared transaction plus the revenue you gain from offering the right local methods. Sometimes paying a bit more per transaction earns back far more through higher checkout completion.
How long does it take to go live with a PSP in a new country?
Timelines vary from a few days to several weeks. Simple cross-border card setups can be live quickly, while local acquiring, industry-specific compliance, and markets with heavier regulation take longer. Ask each provider for a realistic onboarding estimate and prepare your business documents, website, and refund policy in advance to avoid delays.