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Accepting PayCo as a merchant

PayCo is a South Korean wallet, used domestically for online and in-store payment with stored cards and balances. For a European merchant its relevance is inbound: Korean customers who prefer to pay with the wallet they already use rather than by entering card details.

Published prices for PAYCOPer provider, country and channel, further down this pageGo to the prices

Bundles

How Korean wallet acceptance usually happens

Rarely as an individual integration. Korean and wider Asian wallets typically reach European merchants through cross-border acceptance networks that bundle several wallets behind a single connection. That is efficient, and it also means a merchant frequently accepts wallets nobody deliberately chose. Knowing which of your enabled methods arrived as a decision and which arrived as a package is worth five minutes with your PSP.

Cross-border cost and who earns the currency spread

Inbound wallet transactions are cross-border by definition, bringing currency conversion and cross-border assessments alongside the acceptance fee. Whether the customer is billed in your currency or theirs sets the rate applied and decides who earns the spread. It is configured once at integration and almost never reviewed.

Scale

Measure your own inbound volume, not the market

The size of Korean e-commerce is not the size of your Korean revenue. If inbound volume is material, negotiate properly. If it is marginal, the reconciliation and support overhead may exceed the contribution, and that is a legitimate reason to simplify. What is not legitimate is carrying the method for years without ever having looked at which case applies.

Testing

A method you cannot test is a method you cannot trust

There is a practical problem with inbound wallets that nobody puts in a proposal. You cannot test them. Buying from your own shop with a Korean wallet takes a Korean phone number, a Korean bank account and an app that will not install on your phone, which means the one method your team can never check end to end is also the one nobody would notice failing.

That matters more than it sounds, because a method producing no transactions looks exactly like a method that is broken. Both show zero. Error-rate monitoring does not help: a wallet that never gets selected produces no errors, and a wallet that redirects to a dead page produces errors in somebody else’s system rather than in yours.

Two things fix it and neither is expensive. Ask your provider for a test path or a sandbox account for each inbound method you accept, and record who holds the credentials, because in a lot of businesses the answer turns out to be the agency that did the integration and no longer works with you. Then set an alert on absence rather than on failure: any method that produced transactions in each of the last eight weeks and none in the last seven days should send somebody an email.

Which payment provider supports PayCo in Europe?

Toss Payments and KG Inicis in Korea, alongside KOMOJU and Rapyd, all document PAYCO, among others, as do the other gateways carrying Korean wallet coverage. The useful questions are the effective rate on wallet volume, whether currency conversion is shown separately, whether the wallet arrived bundled, and what share of revenue actually flows through it.

Retail Payment Methods Transparency Index

Published prices for PAYCO, per provider

2 providers in the index offer PAYCO to merchants established in Europe, and one of them publishes a price.

Each rate is shown as the provider prints it; the provider's name links to its price page on this site where there is one, with the source of every rate.

ProviderPer transactionChannel
Adyen Merchants anywhere in the EU€0.11 + 4%Processing fee + PercentageOnline and in-store
Adyen Merchants in the United Kingdom£0.11 + 4%Processing fee + PercentageOnline and in-store
Adyen Merchants in Norway€0.11 + 4%Processing fee + PercentageOnline and in-store
Adyen Merchants in Poland€0.11 + 4%Processing fee + PercentageOnline and in-store
Stripe Merchants in AustriaNo price publishedOnline
Stripe Merchants in BelgiumNo price publishedOnline
Stripe Merchants in DenmarkNo price publishedOnline
Stripe Merchants in EstoniaNo price publishedOnline
Stripe Merchants in SpainNo price publishedOnline
Stripe Merchants in FinlandNo price publishedOnline
Stripe Merchants in FranceNo price publishedOnline
Stripe Merchants in GreeceNo price publishedOnline
Stripe Merchants in CroatiaNo price publishedOnline
Stripe Merchants in HungaryNo price publishedOnline
Stripe Merchants in IrelandNo price publishedOnline
Stripe Merchants in ItalyNo price publishedOnline
Stripe Merchants in LithuaniaNo price publishedOnline
Stripe Merchants in LuxembourgNo price publishedOnline
Stripe Merchants in LatviaNo price publishedOnline
Stripe Merchants in PortugalNo price publishedOnline
Stripe Merchants in SwedenNo price publishedOnline
Stripe Merchants in SloveniaNo price publishedOnline
Stripe Merchants in SlovakiaNo price publishedOnline
Choose your own countries and channel for PAYCO in the indexOpen the Retail Payment Methods Transparency Index

Source: EcomStream, Retail Payment Methods Transparency Index, ecomstream.eu/payment-methods-transparency-index. Read at source between 20 September 2026 and 28 September 2026. A provider that believes a row is wrong can write to index@ecomstream.nl. Every reported correction is checked at the source.

Silence

What silence costs

Put a number on the failure nobody sees. Take 5 million euros of annual revenue with an inbound wallet carrying 0.8 per cent of it, so 40,000 euros a year, which is precisely the size at which nobody watches it.

Now suppose it breaks in January and somebody notices in May. Four months of a 40,000 euro run rate is roughly 13,300 euros of orders attempted and not completed. Some of those customers pay by card instead and you lose only the difference in conversion. Some abandon, and for an inbound customer with no convenient alternative that is the whole order. Even at a conservative half, 6,600 euros walked out over a fault that a seven-day absence alert would have caught in the first week.

Which is an argument for the monitoring rather than for the method. The rule costs one afternoon, it applies to every method you accept rather than only this one, and it converts the hardest kind of failure, the silent kind, into an email.

Reviewing what this costs you

What you pay is set in your agreement, not by the scheme. Start by establishing whether you are overpaying your PSP, or look at what payment performance optimisation does to authorisation rate and cardmix, which is where a wallet earns or costs you money.

How a wallet behaves inside your flow, from one-click through to the return after a challenge, is a checkout flow optimisation question as much as a pricing one.

Relevant markets: South Korea, global inbound

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Check your site
Payment set-up check

Check your checkout against every market you sell in

This check reads your webshop, finds the countries you sell in and names where your payment set-up falls short of what shoppers there expect, and where it carries costs you can avoid.

Free. Afterwards you can have the report emailed to you and add the full scan free of charge: 6 to 22 pages on your checkout per market, with screenshots of every finding and of the payment step on desktop and phone, and a worksheet in euros.