When you’re new to Spain, whether you’ve opened a small shop or are working as a freelancer (autónomo), figuring out how to accept payments can be a real headache. While cash is an option, fewer people carry large amounts these days, especially tourists and young locals who are used to paying by card. Today, let’s talk about how to handle card payments in Spain, focusing on two main methods: physical POS terminals and online payment solutions.
In-Store Payments: The TPV
If you have a physical location like a restaurant, nail salon, or grocery store, a POS machine is practically a must-have. This device, commonly known as a card terminal, is called a TPV in Spain. To get one, you generally need to be registered as a company or a self-employed individual (autónomo), and then you can apply through your business bank.
Major banks like Santander, BBVA, and CaixaBank all offer their own TPV services. During the application process, the bank will review your business type and expected transaction volume. They primarily focus on two costs:
- Monthly Rental Fee: The machine is rented, not owned, and you’ll pay a monthly fee of a few dozen euros. The exact cost depends on the model, with wireless terminals being slightly more expensive.
- Transaction Fees: This is the main cost. For every transaction, the bank takes a percentage. This rate is negotiable! The higher your monthly turnover, the lower the fee you can negotiate. It generally ranges from 0.4% to 1.5%. Keep in mind that fees for American Express are typically much higher than for standard Visa/Mastercard.
TPV Fee Comparison for Major Banks
To help you compare, I’ve put together a table based on data from Spanish bank payment limits. Please note that this is just a general guide. You must discuss the specific rates with your bank manager, especially if you anticipate a high volume of transactions!
| Bank | TPV Monthly Fee | Transaction Fee | Pros |
|---|
| BBVA | €15 - €40 | 0.4% - 1.2% | Stable system, good support for small businesses |
| Santander | €20 - €50 | 0.5% - 1.5% | Extensive branch network, wide service coverage |
| CaixaBank | €10 - €35 | 0.4% - 1.0% | Often offers package deals, competitive rates |
| Sabadell | €10 - €30 | 0.35% - 0.9% | Very friendly to newly registered freelancers (autónomos) |
Online Payments: Virtual TPV and Third-Party Platforms
If you run an e-commerce site, a website, or offer online services as a freelancer without a physical store, you’ll need an online payment solution. There are two main options:
Bank’s Virtual POS (TPV Virtual): Similar to the physical POS, you apply for this through your bank. They will provide you with a set of APIs to integrate into your website. The advantage is that the money goes directly into your bank account, and the fees are relatively low. The downside is that the application and technical integration can be complicated, requiring some technical knowledge or hiring help. The approval process is also stricter, as your website content, refund policies, etc., must comply with the bank’s regulations.
Third-Party Payment Platforms: Think of globally recognized services like Stripe or PayPal. The main advantage here is that integration is incredibly simple—often just a few lines of code—making it very friendly for individual developers, and registration is fast. The drawback is that their fees are usually higher than a bank’s TPV Virtual. For example, Stripe’s standard rate in Europe is 1.5% + €0.25 per transaction. Although it’s more expensive, it saves a lot of time and effort, making it a great option when your business is starting out and transaction volumes are low.
And don’t forget Bizum, Spain’s hugely popular payment app! Many bank TPV services now integrate Bizum payments, which is extremely convenient for small transactions—customers just need to scan a QR code. When applying for your TPV, be sure to ask your bank if they support it. It’s highly recommended! In summary, choosing the right solution based on your business model is key to making payments both convenient and cost-effective.
