Over the years, PayPal is emerging as the preferred payment app and website to send or receive money either locally and internationally. More than 286 million individuals and businesses use PayPal and the figure continues to grow.
However, for some reasons, you might wish to have alternatives to PayPal. This can be for several reasons. If that’s your case, try any of these best PayPal alternatives that’re available for use worldwide.
At the same time, it’s better to look for certain features while using a PayPal alternative. I’m listing these below.
Checklist for PayPal Alternatives
Ease of use is the main feature of PayPal that attracts people to use this online payments system. If you’re looking for best alternatives to PayPal, use the following checklist before signing up for any of them.
- Global acceptance: Not every PayPal alternative has global acceptance. In fact, they might not work in certain countries.
- Transaction fees: PayPal charges 0.25 percent to five percent of transfer amount as transaction fee. The rate depends upon nature of transaction and country. Check out transaction fees applicable in your country since these can affect your income or spending.
- Minimum transfers: There’re no lower or upper limits on money you can send with PayPal. However, some PayPal alternatives don’t allow you to send anything below a certain amount of money.
- Remittance Speed: Usually, transactions by PayPal are completed immediately or within 48 hours depending on where the money comes from and where it’s going. PayPal alternatives might take as long as one week to complete the transaction.
- Debit Card: PayPal offers a virtual and physical debit card in America and certain other countries. This is a MasterCard branded debit card and can be very useful if you’re using PayPal a lot. Check if PayPal alternatives also offer such a facility.
Usually, most people that have a PayPal account look for alternatives because they need a secondary online payment system. If you’re one of these, check for the best PayPal alternatives that I’m writing about now.
Best PayPal Alternatives
The features of each PayPal alternative varies. Therefore, I once again suggest you read the various features before using any of these.
1. Google Pay
Google Pay is an excellent way to send and receive money. Currently, the cash remittance services on Google Pay is available only in USA and India.
Google is rolling out the service in other countries too. However, depending on where you live, Google Pay can prove useful while buying on Google Play store and other platforms.
Useful for in-store and online payments. It eliminates the hassles of storing passwords since Google Pay also has fingerprint login. Integrates well with all online stores, PayPal and its alternatives for seamless money transfer.
Pricing: Free to send & receive.
Skrill allows you to send and receive money anywhere in the world. You can link bank account, store debit card information, billers and other details for swifter payments.
Login is with your email ID and Skrill password. Skrill Wallet facility is also available at 1.45 percent, charged on basis of your monthly transactions.
The Skrill Wallet also allows storing money in any major currency of the world for faster international payments. The flipside is Skrill charges.
Pricing: Skrill has various levels of charges for using its different features.
Payoneer is preferred by several buyers & sellers of freelance services, businesspersons and merchants around the world due to their relatively lower service fees.
Again, the rates can differ according to every country but they don’t exceed 2.5 percent of the transaction value. Payoneer too works well in most countries of the world and provides easy connectivity to bank accounts.
Payoneer has close to 4.5 million users around the world. However, features available depend on the country and its local laws.
Once you complete your first $100 transaction with Payoneer then you will receive a bonus of $25. There is no signup fee.
Pricing: Payoneer has very attractive pricing plans. You can check them here, according to your location and need.
4. Amazon Pay
Amazon Pay is a relatively newer entrant on the scene. Despite, it’s fast growing as the best PayPal alternative for several reasons.
Amazon Pay offers a host of features. This includes scan-and-pay using personal QR Code, online payment and in-store payments for merchants using the platform.
Amazon Pay is useful for merchants, charities and shoppers. It integrates well with most ecommerce websites and dropshipping platforms. It’s one of the few PayPal alternatives that uses web, mobile and voice activated payments.
Pricing: For US transactions: 2.9 percent of transaction value plus three Cents. International transactions: 3.9 percent value of transactions. Disputed payment fees: $20 per transaction.
Currently, Dwolla works only in USA and is fast emerging as the best alternatives to PayPal among freelancers and merchants. Dwolla integrates well with all Verisign certified payment systems and hence is very safe
Dwolla offers the choice to make payments through web, app, wallet and bank-to-bank or bank-to-seller, customer-to-seller and seller-to-buyer payments. Dwolla allows automation to send up to 5,000 payments at the same time, which is a useful feature for dropshipping.
6. Facebook Pay
This might come as a surprise to many. However, Facebook Pay is now one of the best PayPal alternatives that you can find. That’s because Facebook has over 2.49 billion users. Facebook Pay integrates well with every other payment app or website.
Merchants, individuals and freelancers can send and receive money on Facebook Messenger, WhatsApp, Instagram and Facebook itself.
Ideal for all users, you’ll need to connect it to your bank account or debit card to send and receive payments.
Pricing: Free of cost.
7. Truecaller Money Transfer
Truecaller, as we all know, began as a very useful application that allows us to identify a caller. Thanks to its widespread popularity, Truecaller now also offers Truecaller Money Transfer in USA, India and some other countries.
It’s possible to connect multiple bank accounts with Truecaller Money Transfer to send and receive money for individuals and businesses. It also integrates with Google Pay. Meaning, if your buyer doesn’t have Truecaller Money Transfer, they can still send money using Google Pay.
All you require is the telephone number of the person or business who’s sending or getting your money. If they too have a Truecaller Money Transfer account, you can remit or get money within seconds.
Pricing: Free of cost.
Another excellent PayPal alternative is Neteller. In fact, Neteller has been around for quite a few years and is a fabulous website and app for sending and receiving money.
You can use it for getting or sending money anywhere in the world, to other Neteller users. Their cash transfer and receiving fees are fairly low, depending on where you live.
Major companies in the world use Neteller to send refunds of returns, pay cashbacks and remit money to suppliers. It’s also popular among smaller enterprises, freelancers and dropshippers, among others.
You can send and receive money from businesses and individuals that don’t have a Neteller account. However, Neteller doesn’t serve as wallet and the money is immediately deposited or withdrawn from your bank account.
Pricing: Free of cost.
With over a million online stores and millions of individuals connected, Stripe is also a fantastic alternative to PayPal.
Stripe is fast becoming popular around the world as e-commerce continues to flourish and more people look for online payment platforms, especially during the Covid-19 pandemic.
Stripe integrates very well with every other payment system and can be easily incorporated for online payments on ecommerce websites. They have solutions for small and large businesses, individuals as well as large, global enterprises.
Pricing: The integrated platform costs 2.9 percent of transaction charge plus 30 Cents under the ‘Pay As You Go’ plan. For customized solutions, prices are available on request.
WePay prides itself in being a payment system that matches well with the scales of JP Morgan Chase bank, it’s owners. It offers a multitude of solutions for merchants, small businesses and individuals too.
However, WePay doesn’t have a standard pricing policy. Therefore, you’ll need to order a customized WePay payments system. It connects over four million Small and Medium Businesses (SMBs) across USA.
Pricing: Customized according to every need.
Available for transactions in 87 currencies, subject to currency conversion fees. It processes multiple shoppers from various locations simultaneously, regardless of their payment systems. Pricing depends on your location and specific needs.
Authorize.net comes from Visa International. Accepts credit card, debit card, online & mobile wallet payments from around the world. You can select the pricing plan to suit needs of the business.
You can setup both a merchant account and payment gateway with Authorize.net and there is no setup fee for businesses with less than $500K transactions.
More Alternatives to PayPal
In addition the above, there’re also five more best PayPal alternatives that you might consider.
- Intuit: One of the oldest online payment systems. Plans range from $1 to $45 per month.
- ProPay: For small to large business and enterprises. Pricing plans are customizable according to needs.
- Venmo: Venmo doesn’t charge for basic services. They have fixed plans and customizable solutions for businesses.
- Shop Pay: This payment system comes from global online marketplace major, Shopify. It works as app and has excellent pricing to suit every need.
- Square: With basic plans starting for 2.6 percent transaction amount plus 10 Cents as fees, Square is also a hot favorite among merchants. Integrates well with all other payment systems.
Before concluding, here’s a warning. Countless online payment systems failed over the years, though their websites remain online. Therefore, check whether any alternatives to PayPal is functional before you sign up. But the list that I mentioned here for PayPal alternatives, are into existence from last few years.