13 Best PayPal Alternatives to use in 2020
PayPal is the undisputed leader when it comes to processing payments through online channels. People all across the globe use this online financial service platform for paying online when they make purchases on eCommerce platforms along with sending and receiving money in a safe, secure, and convenient way. The integration of reliable tools and user-friendly interface makes it suitable for fulfilling the requirements of eCommerce platforms, which includes reporting, invoicing, and processing payments.
Although a large number of people use the online payment processing platform, PayPal, the platform has some drawbacks also. Some of the disadvantages which compels the users to look for the alternatives to this online payment system include the log time taken by it while withdrawing money from your bank account. Also, PayPal charges 3.7 percent fees, including USD 0.30, which is much more than many of its alternative charges. It has failed to protect sellers selling digital services and products. Moreover, the online payment processing system is well known for freezing the accounts for up to six months.
So, if you are looking for best PayPal alternatives, then here is the list of online payment processing systems among which you can choose according to your needs.
It is the popular PayPal alternative, which is very fast and convenient when it comes to making payments through apps, on websites, and in-store cards saved to the Google accounts of the users. It has no additional service fees and processes the payments, whether sending or receiving money in just a few seconds. It provides a high level of security along with the feature of using and storing both credit and debit cards in its Google Wallet. Moreover, you can use the cards saved in Google Wallet to make payments to different places through your mobile phone.
The online payment processing system has more than 4 million users across the globe. It is considered cheap than PayPal when it comes to making international payments and transfers. The online payment system facilitates multi-currency borderless accounts to its users, which can be used with meager fees by the buyers, freelancers, and sellers. It has an extraordinary and transparent pricing system, which makes it the most inexpensive way to transfer money all around the world.
The online payment system is best suited for the people who have small or medium businesses and looking for a one-stop solution. It helps the companies in sending and receiving payments securely and quickly. Moreover, it has a particular focus on several market factors, including online advertising, vacation rentals, eCommerce platforms, and freelancing. It is straightforward to create an account and implement the system of the transaction on Payoneer. Moreover, you can use both ATM and your bank account through Payoneer. Also, it offers free payments and transparent monthly billing between the accounts on Payoneer.
It is suitable for those businesses that wanted a flexible and intuitive application programming interface. It is among one of the most popular online payment systems working with multiple big platforms of eCommerce, including Shopify. It is the preferred processor of online payment used by Shopify. If you are the user of Stripe, then there is no need for any gateway and merchant account. The payment system process all the required functions, including the collection of payments along with sending the payments to your bank account. Moreover, the payment system is also working with BitCoin transactions and ACH payments. However, the basic fee of Stripe is quite near to PayPal.
It is best suited to small businesses that are willing to get security and incredible customer support. The payment solution has received a lot of praise for the protection and reliability it provides. It provides 24/7 customer support along with offering free set up of merchant account and gateway. It can be synchronized with the accounting software, QuickBooks. It has a free mobile application and a user-friendly interface. However, the payment solution can’t be used for private purposes, such as if you wish to send or receive money from your relatives and friends.
ECommerce platforms and online businesses use the payment solution. It allows online companies to accept debit and credit cards without a third party on their online store of Shopify. It facilitates seamless management of payment processing for the owners of the Shopify store. It has collaboration with several accounting applications that allows reporting and lightweight accounting.
The online payment solution is suitable for those who often play online games or deals in cryptocurrencies. The payment system is quite similar to PayPal, but some of its exceptional features make it a worthy alternative to PayPal.
Being the payment system is easy to use, the users can link their bank accounts, send and receive payments, store details of their card for quick payment processing, and process payments by using their email address along with the password.
The users get a debit card, which is prepaid from the payment solution. Customers could use this prepaid debit card all across the world. It has been built suitable for using cryptocurrencies, including Ether, BitCoin, and Litecoin. Moreover, it is also ideal for online games and gambling, which requires investing money.
It is a sophisticated payment solution for the businesses which an online payment store with free domain, invoicing, and shopping cart. Also, it can be used for the functions of the virtual terminal and information of the saved card. The users can process the payments through card by using the integrated mPOS and POS, which is free. It has several features that could be used by the owners of the small businesses, including management of employee, payroll, and booking an appointment. However, the payment solution is only available to the companies located in the USA, UK, Japan, Australia, and Canada.
The payment is the most suitable for businesses based in the USA, which has to make bank transfers in high volume. It is extremely friendly for developers and can be integrated with your existing application. It has a fixed rate for transactions made on the next day and provides immediate transaction of payments.
The payment solution is ideal for large corporations and businesses and often used by the merchants. Moreover, it provides 24/7 customer support and has a transparent system of pricing, along with a comprehensive set of features. It works with mobile payments and online along with accepting any kind of payment, which includes cards, Venmo, PayPal, etc.
It is not only the one-stop solution for payment processing but also has the brand appeal. The transactions done through the payment solution is fast and secure. It has an excellent user-friendly interface and a transparent process to Sign up. Moreover, you and your customers can make payments from anywhere they want as it is available on every device.
It is best suited to businesses that require a single payment solution that could work smoothly with multiple countries, languages, and currencies. The payment solution is supporting 87 options for currencies, eight types of payment, and several languages, which are 30 in number. The service is operational in more than 200 countries, along with allowing you to accept 45 methods of payment processing. It has almost 300 rules related to security for the transactions, along with 24/7 customer support.
The payment solution is suitable for freelancers and other businesses based on providing small services. The payment solution service works optimum when it is used with Quickbooks, which is accounting software. It serves the needs of small businesses, along with providing intuitive and simple financial tools and enhances fast transactions.
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