PayPal Alternatives – PayPal is one of the best payment solutions on the internet today. It also accounts for 22% of all online transactions. However, it has its own drawbacks that make people opt for an alternative.
One of the drawbacks of PayPal is that it does not offer protection for sellers, and it freezes people’s accounts for up to six months without any notice. Also, it takes longer to withdraw money to your account. And the cause of these and more, people opt for an alternative.
However, there are tons of alternatives to PayPal that are worth considering. Most of these alternatives have features that are much better and suit different needs. Some of them also have lower fees. This blog post will round up at least 10 best alternatives to PayPal.
Alternatives to PayPal
PayPal is great and it has its own drawbacks. Luckily, there are tons of alternatives to PayPal that you can consider. Here are some of them:
Payoneer
Payoneer is just like PayPal and it operates in over 150 countries. Opening an account with Payoneer is free and it enables withdrawals directly from your account. It also has an account that is a prepaid card and it is only available to people.Â
This prepaid card costs $29.95 per month. For every local bank transfer, you will be charged a service fee of $1.50. Payoneer also offers a service called billing service and it enables businesses to set up payment for customers with a fee of 3% for credit cards and 1% for debit cards.
PayPal Alternatives – Venmo
Venom is also a checkout option with lots of websites and multiple apps which includes GrubHub and Uber. It will take a few business days for you to transfer money to your Venmo account when you make a withdrawal from your Venmo balance.
Venmo has several popular features from social media platforms such as comments, likes, and messages that are attached to every payment. Venmo offers an instant transfer if you need money faster.
However, you will be charged a 1% fee with a maximum of $10 and a minimum of $0.25. This payment platform also doesn’t have regular fees such as monthly or annual fees.Â
Skrill
Skrill is just like PayPal. It has a few features that make the app distinctive. Its payment services are pretty easy to use and you can easily send and receive money from Skrill.
Users can also store their card details for faster purchasing, make payments, and link their bank accounts with just a valid email address and password.
Skrill also offers a prepaid debit card that allows you to use anywhere in the world. In addition, transferring money to your bank account is also very easy.
Skrill is set up for online games that require funds and gambling. Just like PayPal, Skrill has strict fraud prevention tools that are known to freeze the user’s account.
Quickbooks Payments
Quickbooks payment is best for small service-based businesses and freelancers who are also in need of an expert accounting tool. This payment platform works best when you use it with its accounting software known as Quickbooks.Â
It helps small businesses and it is focused on offering simple, fast transactions and simple intuitive financial tools. Quickbooks payment also enable you to create and send invoices, accept ACH bank transfer, set up recurring billing, set up automated payment reminders, and take mobile card payments.
It also allows users to link their bank account with Quickbooks to make accounting much easier. In addition, you can connect the payments with timesheets and payroll.
PayPal Alternatives – Authorize.Net
Although this payment platform isn’t as popular as PayPal, still it is one of the best payment platforms. Authorize.net has its own advantage that makes it stand out from the rest.
This payment service is under Visa and it also has the best user support that is provided by real people every day of the week. Authorize.Net is also praised for its security and reliability. It also offers recurring billing, robust API, invoicing, and point-of-sale checkout.
Its interface is easy to use and the service also integrates with several payment providers such as PayPal, Visa Checkout, and Apple Pay. Authorize.net is good for businesses and not personal use because it doesn’t allow users to send money to their friends and family.
Wise
Wise was formally known as Transferwise and it is best for service-based businesses and individuals with lots of international transactions. It also claims to be a cheaper way to send money internationally.
This payment platform is the best for people who make a lot of international transfers. Wise also claims to provide the original exchange rate without any inflation with extra unseen fees.
Wise also offers users a debit card that will allow them to manage money in over 40 currencies, batch payments, run payroll, charge clients, and many more. In addition, the platform also enables business owners to invoice their customers in their own currency.
Shopify Payments
People who have businesses with Shopify will easily accept debit and credit cards directly on their Shopify store without the use of a third party.
This makes it very easy for the sellers and it is integrated completely with your Shopify store. It is simple to get and it enables you to collect all major credit cards.
If you want to make the checkout much easier, you can sign up with Shopify Pay. It also works well with Pinterest Buyable Pins, eBay, Facebook shops, Amazon, Facebook Messenger, and many more.
Furthermore, if you want to sell in person, you can accept the card payment with Shopify POS.
PayPal Alternatives – Square
Square is aimed at business that is focused on selling in-person and you can also use it for online payments through invoice. This service is amazing and it allows you to receive cash, cards, gift cards, and even checks.
Users can also print the receipt or even send the receipt to their customers online. After signing up for an account, you will get a free reader. Even without an internet connection, you will be able to swipe cards.
Square also offers recurring payments, invoicing, payroll tools, and real-time inventory management. Square Checkout works with your e-commerce store and it enables you to receive payments online by using a very simple checkout workflow.
Braintree
Although Braintree is part of PayPal services, it is still an alternative to PayPal. It is designed for large businesses such as DropBox, Uber, Yelp, and GitHub by using the payment solution.
One of the merits of Braintree is that it focuses on helping businesses to lower friction and increase conversions with an easy checkout experience.
Braintree also makes it much easier to receive online payment in over 130 currencies from up to 45 countries. it also has advanced features that PayPal does not have.
Braintree also has all of the standard features that every large business will expect such as hands-on customer support, and recurring billing. This payment service also works well with PayPal and several other payment platforms such as Google Pay and Apple Pay.
PayPal Alternatives – Stripe
Stripe is among the most popular alternatives to PayPal especially for online businesses. This payment solution is very easy to integrate and personalize by using a simple API.
This is why so many large businesses such as Shopify have Stripe integrations. With Stripe, you can receive payments from different parts of the world. Stripe also automatically deposits money into your bank account. In addition, mobile payments are also available.
These are some of the best alternatives that you can use for PayPal. You can check them out by visiting their official website.
