5 Best alternatives for PayPal
PayPal is the best digital payment option that is available worldwide. It helps to accept payments from the client for online vending. Also, it is an easier way to purchase products or services online by simply transferring the money from your mobile wallet.
The payment processing industry has been progressing rapidly. It offers the customer more flexibility limiting customer from visiting traditional banks and financial institutions. Here are some alternatives to the PayPal with same features:
- Google Pay
Google Pay is an app that benefits both sellers and clients. For easy and quick payments, users can save credit and debit card payment information to their Google Pay accounts from any part of the world.
Businesses cannot only simplify the payment process for their clients but can also these services as a digital marketing tool, sending mobile offers and product recommendations to a specified audience.
Google is a trusted company, so feel free to trust them for their online payment needs.
It is established in 2021 and bank transfers and debit card activity is free. For each transaction, it cost 2.9% on credit cards.
2. Square
Square was developed as an alternative for mobile POS transactions, credit cards, cash, and check payments.
Now it has tons of features and benefits for online transactions through invoicing and real-time inventory management.
Square even supports payroll, lets employees clock in and out of work, and accepts the payment directly.
One of the attractive features of Square is that it allows small business loans, with percentages of daily Square sales going toward the loan payment.
It is established in 2009 and each transaction charges about a 2.9% fee plus $0.30.
3. Stripe
Stripe is the best popular choice for business vendors who want a flexible application programming interface(API). Here, payment problems are not based on finance, but code. It gives a flexible application programming interface(API).
This platform believes that payment problems are not based on finance, but code. So that they can easily customize and integrate into a variety of operating systems.
Like PayPal, it also allows managing transactions from anywhere in the world. They provide mobile payments and can deposit grants directly into your bank account.
It is highly customizable and flexible and best suited for vendors with some computer programming background.
It was established in 2010 and has similar pricing to PayPal about transaction cost.
4. Payoneer
Mostly, small and medium-sized businesses are benefitted from Payoneer which focused on e-commerce, freelancing, vacation rentals, and online advertising.
It makes the payment process easier who have an online account as they also receive a debit card so that they can withdraw money from any banks or ATMs anywhere in the world. Payoneer’s transactions are completed with two hours.
It was established in 2005 and customers make payments for free. Credit cards charge 3% whereas virtual checks charge 1%.
5. Amazon Pay
Amazon is the most relied-on site with millions of users, so Amazon Pay a great way to allow people to make online payments.
Users can log in to their accounts, click on the saved information, and check out with a familiar interface.
Its features help you to make an instant and painless checkout process, creating a friendly user experience and uplifting conversion rates.
Amazon Pay is accessible on all devices, so sellers and customers can manage payment whenever and wherever feasible. It is suited for those shopkeepers who have some programming knowledge of how to align Amazon Pay with their e-commerce sites.
It was established in 2007 with domestic US transaction charge 2.9% plus $0.30 while International transaction charges 3.9% plus $0.30.
