Top 7 Paypal Alternatives For Personal And Business Use

Published: 2021-05-05
Views: 308
Author: Jummie
Published in: E-commerce & Online Payment

PayPal has been the most widely used payment application for businesses and self-employed freelancers, since its inception in 1998.

PayPal founded by Elon Musk, Max Levchin, and Peter Thiel, among others, recognized the need for online payments and jumped in with a slew of features.

It allows you to send and request money online quickly and easily. By simply linking your bank account or credit card to PayPal, you are able to conduct international transactions with just your PayPal id.

Paypal Alternatives for personal and business use

Although many people think of PayPal when they think of online payments, it is not the only option available at the moment.

Because there is a lot of room for competition, the online payment system has evolved, and major players are starting to take notice.

Apple, Google, and Samsung have all developed competing platforms, and there are a number of lesser-known PayPal alternatives for online payments.

Paypal Alternatives 1: Adyen

If you're looking for a PayPal alternative for eBay, Adyen is the answer. Even if you don't use eBay, this PayPal competitor is used by some of the biggest names in tech, including Spotify and Etsy.

Its pricing is transparent but can get complicated, so read up on the details before deciding on this option.

Adyen subscribers will have access to a variety of security features as well as the ability to accept payments from anywhere in the world.

Paypal Alternatives 2: Amazon Pay

This Paypal alternative is best for online businesses based in the United States that already use an e-commerce platform, that is businesses with an Amazon seller account.

Amazon Pay is a payment gateway that allows your customers to check out online using their Amazon account information.

To use Amazon Pay, you must first create an Amazon seller account, after which you will use their customizable API to fuse the plug-in with your ready online e-commerce platform.

It's worth noting that charitable organizations benefit from lower Amazon Pay fees.

Paypal Alternatives 3: Authorize.Net

This e-commerce business is ideal for those looking for a simple payment gateway with a focus on security and customer service.

You get a highly reputable all-in-one option with Authorize.Net, which includes a payment gateway that allows you to process online transactions for 2.9 percent plus 30 cents.

You'll also have to pay a monthly gateway fee of $25.

To use Authorize.net, you must have a merchant account, but you have the option of purchasing one from one of its providers or using your own.

Fraud detection, recurring billing, a QuickBooks integration, and an invoicing suite are all included with Authorize.Net.

Paypal Alternatives 4: 2Checkout (Verifone)

2Checkout is an e-commerce payment processor alternative that accepts credit cards online. 2Checkout has been acquired by Verifone, a leading global provider of payment and commerce solutions in 2020.

2Checkout offers a number of features, including the ability to accept payments from all over the world, create your own checkout page, set up recurring transactions, compile payment history reports, and more.

To use 2Checkout, you must sign up for one of three product plans.

Although this may appear to be a costly option, you will receive a variety of features in addition to payment processing (especially for international merchants), making it a good option for certain e-commerce businesses looking for a PayPal alternative.

Paypal Alternatives 5: Instamojo

Another PayPal option that is available, especially for Indian bloggers and freelancers is Instamojo. It's a completely self-developed universal payment system that allows freelancers, bloggers, and businesspeople to receive money from foreign sources instantly.

It has over a million users despite being a relative newcomer in the highly competitive field of universal payment systems.

Instamojo's user base is expanding at a rate of 10,000 new users per day.

Paypal Alternatives 6: Skrill

Skrill is a good option if you need to send money internationally quickly. You will not be charged if you send money outside of India using this website or app.

Outward remittances of money from India, on the other hand, are subject to the Reserve Bank of India and Indian government rules and regulations.

Receiving and sending money with Skrill is completely free of charge. However, depending on the amount of money you receive from a foreign source, you may be required to pay a small service fee.

Paypal Alternatives 7: WebMoney

WebMoney is a popular worldwide universal payment system. Most freelancers and bloggers use it to get money from the United States as an alternative to PayPal.

WebMoney typically provides a better currency conversion rate than the market rate.

As a result, you can earn a little extra cash by requesting WebMoney payments.

WebMoney has a number of unique features.

It can be used as a mobile or online wallet to store money and send it to a bank or to make payments when needed as it also includes a budgeting tool.

WebMoney's 'Raise Funds' feature is also very useful. This is especially useful in an emergency or if you need to raise funds for a legitimate and genuine cause.

PayPal is a payment option on thousands of online shopping websites; however, there are numerous PayPal alternatives available as highlighted above.