Best PayPal Alternatives

In recent years, PayPal has become a household name. Cheques and Western Union transfers are old traditions now.

Sending and receiving money on PayPal has made it easier than ever before.

Anyone in this world can Signup for a Free Paypal account and further send & receive money digitally.

One of the best things about PayPal is that it is accepted worldwide, with millions of merchants. 

To register and use PayPal is very simple, and it works smoothly with e-commerce shopping websites. Still, many people are not comfortable using PayPal.

So, we have come up with PayPal alternatives because PayPal has limitations in some countries. Users always seek new methods for sending and receiving money online.

• Also Read:- How does WhatsApp earn money?

Best alternatives of PayPal:-

Each payment service below, we are personally using it for sending and receiving funds online.

Skrill

Formerly known as Moneybookers, Skrill lets you make receive and send money to other Skrill users using the email addresses linked with their account.

Skrill is one of the best PayPal alternatives. Like Google Pay and PayPal, you can use your debit/credit cards to fund your wallet.

They also allow funding account wallet with cryptocurrencies.

But Skrill has some unique feature – one can transfer funds instantly on both sides. Skrill offers instant withdrawal to your bank account, while PayPal takes 3-4 business days.

• Popular Read:- Websites that accept PayPal payments in India

What you can do with Skrill:

• With Skrill, you can send and receive money to over 210 countries in the world.
• Skrill offers Prepaid MasterCard physical cards to make “real life” purchases.
• Fund your account via Bitcoins, Neteller, etc.
• Low fund transfer fees.
• 40 global currency available in Skrill, which is much more than PayPal.
• You can use the “SWIFT” option to transfer money from your bank account to Skrill.
• Skrill is accepted in many legitimate gaming websites, whereas PayPal has some restrictions.

How Skrill keeps you protected?

• Skrill has the “anti-fraud” team to safeguards every transaction made by their users, so relax as your data and funds both are protected.
• The website doesn’t sell its user’s information to any other third party.
• All payments made on the site are authorized by the FCA (Financial Conduct Authority).

Drawbacks of Skrill:

• A commission fee of 1% applies to all transfers. However, there is a maximum commission fee of 10% for all transactions.
• There is a standard transfer fee to transfer funds to your bank accounts, debit, or credit cards.

Google Pay

If your a regular online user, there is a 90% chance that you already have a Google account, which you might the using for emails, cloud storage or YouTube, etc.

Google recently launched its payment service known as Google Pay, which is the best PayPal alternative.

With Google Pay, users can send funds within a single click. You can add your debit and credit cards to this platform.

Currently, Google Pay is only available in 30 countries, but it is expanding its service like a fire.

With Google Pay, you can send money to anyone using the mobile number or UPI ID.

What can you do with Google Pay?

• You can store debit, credit, and gift cards.
• Send and receive money securely.
• Fund transfers through your Wallet balance or directly from debit/credit cards or bank accounts.
• You can use your Google Pay wallet balance to pay bills on the Play Store.

How Google Pay keeps you protected?

Google is known for the very tight security of their accounts. It is almost impossible to hack its platform.

Users can report suspicious account activity anytime. They also offer 24/7 fraud and purchase protection, making it a secure platform.

Drawbacks of Google Pay:

• Currently, it is only available in a few countries.
• They are only accepted at some e-commerce shopping site.
• It has standard transfer charges for transferring funds from cards to Google Wallet.

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Payoneer

Payoneer is the great legitimate global payment service that is widely used by professionals as a PayPal alternative.

Many online websites use Payoneer service to accept payments from their clients.

Payoneer supports over 220 countries where users can send and receive payments from any part of the world.

What can you do with Payoneer?

• Receive funds from there people via bank transfer method.
• You can apply for a physical prepaid Payoneer credit card.
• Anyone can quickly transfer funds to other Payoneer users.
• Payoneer supports over 100 currencies, which is much more than PayPal.

How Payoneer keeps you protected?

Payoneer uses a powerful encryption service that renders all the information, which makes it impossible to read by other sources.

Just in case, Payoneer is hacked, your information/data would be completely safe.

Payoneer’s Customer Support targets to take immediate actions to all security concerns, and it also solves the customer’s ticket quickly.

The platform has Virus protection and firewall active, which further prevents theft and security breaches.

Drawbacks of Payoneer:

The fees for adding money into the Payoneer card are much high compared to services.

Most of the users only use Payoneer to receive money from other users, and thereafter withdrawing cash to their bank account.

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Amazon Pay

Amazon Pay is another excellent PayPal alternative available to the users launched by the online retail giant, Amazon.com.

With Amazon Pay, users can send money to anyone using UPI service. It is also accepted globally by many online merchants.

Online merchants prefer accepting money from Amazon Pay over Google Pay, although both are widely famous for their service and security.

What you can do with Amazon Pay:

If you have an Amazon account, all you need to do is verify your account using KYC, and you are good to go.

You don’t have to worry about any fees as it is free. If you are a retailer, you can get a good cashflow using Amazon Pay.

How Amazon Pay protects you?

Amazon is already very popular for its service and used by over a billion people. They use the latest encryption technology to keep your information safe.

Drawbacks of Amazon Pay:

• This service is only available in few countries currently.
• Merchants have to pay a commission fee of 2.9%.

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STRIPE

 Stripe is popular to accept payments for the goods or services that you sell online. It is for online sellers and business owners.

This platform is majorly used by dropshipping business owners.

You can receive money from several different types of payment methods, such as bank transfer, cards, etc.

Many big companies such as TaskRabbit, InstaCart, Deliveroo, etc. use stripe service to accepts payments.

It supports over 100 global currencies. Stripe is indeed a legitimate Paypal alternative.

What can you do with Stripe?

• Receive payments linked with your Kickstarter, Shopify, or Pinterest accounts.
• Accept other payment methods, such as Apple Pay and Google Pay.

Drawbacks of Stripe:

• Currently, Stripe service is only available for business in a few countries.
• Stripe charges a fee of 2.9% commission on average.
• All payment received can take up to 2 days to process.

DWOLLA

Dwolla is one of the best alternatives to PayPal available to the people.

With Dwolla, one can send and receive money from anyone just like PayPal. Business owners can also accept payments via this platform’s API.

This site makes use of some pretty good and special payment features.

What can you do with Dwolla?

• Users can send funds to email addresses, mobile numbers,  and businesses that accept Dwolla.
• You can use their MassPay feature – process thousands of payments in seconds.

How Dwolla keeps you protected?

Users can add a second layer of security protection like Google authenticator to their account.

Dwolla does a regular security testing to ensure their firewalls and other security measures cannot be hacked.

Limitations of Dwolla:

Dwolla service is not as popular as PayPal, which makes it uncommon as compared with other payment services.

With Dwolla, you can’t use any bank accounts, debit or credit cards to the service.

Withdrawing money from Dwolla wallet balance to your bank account can take up to 2-3 business days.

At present, it is only available in the USA, but they are trying their level best to expand their services in other countries.

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2CHECKOUT.com

This site is one of the best options for merchants who want to receive money for the items they sell. Users cannot send and receive payments directly from other users.

It is a popular payment processing website that supports over 90 currencies. 2Checkout is majorly used by e-commerce websites as a method of accepting funds.

You can also use it with over 100 online shopping carts like Shopify and 3DCart.

What can you do with 2Checkout?

• Anyone can accept payments quickly across the globe.
• You can set up automatic or recurring bills for your customers if your business offers subscriptions.
• You can also customize your 2Checkoput API.

How 2Checkout keeps you protected?

• 2Checkout is entirely PCI compliant, boasting a Level 1 certification – the highest available.
• All accounts go through a secure encryption process.
• It uses a three-tiered system to protect clients against fraud, theft, and other suspicious activity.

Limitations of 2Checkout:

• It doesn’t allow you to send or receive money to other 2Checkout users.
• High commission fees almost 2.9%.
• If you are not from the US, the International commission rate nearly doubles to 5.5%.

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WEPAY

It is a payment gateway platform owned by JPMorgan for business owners. We strongly advise you to use WePay if you are a business owner or have a small e-commerce website to accept payments from the users.

WePay is a way for you to accept payments on your website directly, without redirecting any customer to other third-party payment gateways. To do this, WePay produces a “virtual terminal.”

What can you do with WePay?

• You can modify the payment process for customers who purchase items.
• WePay accepts payments from multiple parties and international cards.
• Low commission rates as little as 1%.

How WePay protect its users?

• In case of any fraud, WePay will accept all liability for the scam, thus making it for the users to accept payments on their business website.
• WePay will make sure that you meet all the financial or government requirements.

Limitations of WePay:-

• Currently, WePay is only available in the US.
• The commission rate for credit card payments is 2.9%

SQUARE

Square is also a payment processing service with works differently as compared to the other payment method.

Once you registered with Square, you’ll receive a card reader that plugs into the headphone jack of your mobile or tablet.

If you’re a business owner, you can set up an online store. With Square customers can pay for things on the go, you can use your credit/debit card or your Apple Pay account to pay.

What can you do with Square?

• Users can make payments with their cards even if the business doesn’t have a card reader.
• You can also use Square to pay for purchases with Apple Pay.

Drawbacks of Square:

• Square is only currently available in the US and Canada.
• The commission charged is 2.75% of the amount of money transferred or paid.

Also Read:- WhatsApp Alternatives.

Conclusion:-

If you are a business owner or a customer, if PayPal isn’t available in your country, you don’t need to worry as there are many PayPal alternatives in the market.

PayPal fees are much higher than their alternatives. Even sending money to your bank account takes 4-5 business days, which is a lot!

There are dozens of similar websites where you can send and receive payments at lower rates.

From a business point of view, merchants face restrictions while using PayPal – but since you’re looking for PayPal alternatives, you probably know that already.

Which is your favorite PayPal alternative that you love using? Let us know in the comments!