If you’ve ever had to make an international online payment or run a business that accepts digital transactions, you’ve probably encountered PayPal. It’s been a dominant player in the online payments game for years, serving more than 435 million active users as of 2023.
Even though PayPal is a powerful tool, it isn’t perfect. It has its own share of limitations that might not make it the best fit for everyone’s needs.
Some folks might be seeking lower transaction fees or faster withdrawal times, while others might be looking for a solution that provides better protection for sellers of digital products and services.
The good news? There’s a whole world of best PayPal alternatives out there. In this blog post, we’ll be diving into 13 of the best ones available in 2024.
Are you ready to get into the pool of PayPal alternatives to find the best alternative for you.
Let’s get started, shall we?
Why Consider PayPal Alternatives?
Now, you may be wondering, “Why should I even consider PayPal alternatives?” I mean, PayPal is convenient, right? Well, the answer is simple, yet quite significant – each of us has unique needs when it comes to handling money online.
And sometimes, PayPal might just not cut it. Let’s talk about the reasons why you might want to take a look at alternatives to PayPal.
- Lower Transaction Fees: If you’re running a thriving e-commerce business, transaction fees can become a significant expense. Some alternatives offer lower fees than PayPal, which could result in substantial savings.
- Faster Money Transfers: For freelancers and others who need to transfer money often, the speed of transactions is crucial. Some PayPal alternatives can transfer your earnings to your bank account more swiftly.
- Better Seller Protection: Sellers of digital products and services often face disputes and chargebacks from dissatisfied customers. While PayPal’s policies might not always favor the seller, certain alternatives offer better seller protection, which can provide you with more security in your transactions.
- Greater Flexibility: Everyone has specific requirements when it comes to managing money online. An alternative to PayPal might offer features that are more tailored to your specific needs.
So, you see, there’s a whole world of possibilities outside of PayPal that might just be a better fit for you. Stick with me as we explore these options together.
The 13 Best PayPal Alternatives Of 2024
Ready to explore beyond PayPal? Here are the top 13 best PayPal alternatives of %currentyear% that you should consider for your e-commerce needs.
Google Pay
Google Pay, an offering by the tech giant Google, is your pocket-friendly companion for all types of payments. It stands as one of the best PayPal alternatives, especially for those who value the simplicity of touchless transactions.
This innovative solution provides a quick and secure way to make payments, just with a tap of your smartphone. Whether you’re at a coffee shop or purchasing from an e-commerce platform, Google Pay is there to smoothen the transaction process.
But that’s just the tip of the iceberg.
Google Pay offers a convenient, unified view of your spendings. You can also split bills with friends or family, send and receive money effortlessly. And what’s more? You can do all these without revealing your card details to the receiver, ensuring privacy and security.
How does Google Pay manage such smooth and secure transactions, you wonder?
The trick lies in Google Pay’s tokenization process. When you make a transaction, instead of sending your actual card details, Google Pay sends a unique, encrypted number known as a token. This token is used to complete the transaction, keeping your card details secure.
Thus, your sensitive information never leaves your phone, adding an extra layer of safety to your transactions. This feature also allows you to breeze through checkouts on your favorite shopping sites, without entering card details every time.
- Pricing: Using Google Pay is largely free. Transactions made through your debit card or directly from your bank account won’t cost you anything. However, if you’re using a credit card to send money, there is a small charge of 2.9%.
- Best for: Individuals and businesses that prefer seamless online and offline payments without juggling cash or cards.
Apps: iOS / Android
Skrill
If you’re in search of the best PayPal alternatives with a solid footing in international money transfers, then Skrill is your best bet. As a well-established digital wallet, Skrill offers a comprehensive range of services that rivals its competitors.
Skrill shines bright in the domain of international money transfers, serving millions of customers across 200 countries and 40 currencies. Whether it’s paying overseas freelancers or remitting money to family abroad, Skrill ensures a smooth transaction experience.
But wait, there’s more to it.
As a Skrill user, you don’t just get to make international transactions. The platform also lets you trade in popular cryptocurrencies, directly from your wallet. Be it Bitcoin, Ethereum, or Litecoin, you can buy, hold, and sell your cryptocurrencies in an instant, and enjoy the fast-paced world of crypto trading.
Curious about how Skrill provides these services?
When you transfer money overseas with Skrill, your funds are exchanged at the mid-market rate. This rate is often better than what banks and other providers offer. Plus, Skrill’s transparent fee structure ensures you’re never caught off guard by hidden costs.
As for cryptocurrency trading, Skrill makes it a breeze by providing instant and secure transactions. With just a few clicks, you can start trading your favorite cryptocurrencies, without the need for an additional crypto wallet.
- Pricing: Skrill’s pricing can vary depending on the type of transaction and the medium of transfer too. Generally, transferring money internationally by bank transfer is free, while transferring money internationally incurs a charge of 1% by debit card, Paysafecash, Bank transfer via Sofort/Klarna, 2.99% by credit card, and 4.99% is exchange rate mark-up per transaction. Domestic fee per transaction is free and is charged when the transfer begins and ends in the same country.
- Best for: Individuals and online businesses focused on international transactions and trading in cryptocurrency.
Apps: iOS / Android
Wise (formerly TransferWise)
Wise stands out as a cost-effective option for international money transfers. It boldly promises the “real” exchange rate, resulting in substantial savings. For instance, transferring $2,000 through Wise would have saved a UK recipient £106.47 compared to PayPal.
That’s not all.
Wise’s Borderless multi-currency account is a game-changer. It offers a debit card, lets you manage over 40 currencies, and facilitates running payroll, batch payments, and more. It is one of the best PayPal alternatives.
It even enables businesses to invoice customers in their own currency.
Here’s how Wise operates: Imagine sending $1,000 to a friend in the UK. Your dollars go into Wise’s American account. Your friend then receives the equivalent in British pounds from Wise’s UK account, all at the real exchange rate.
Money never crosses borders, making transfers quick and affordable.
- Pricing: Account opening is free. Sending money starts from a fee of 0.43%. Account Funding transactions costs from 2% and receiving USD wire payments is $4.14. However, a number of things are for free, those include withdrawing $100/month per account, possessing 40+ currency in account, getting details of account in 10 currencies (such as, AUD, CAD, EUR, GBP, HUF, NZD, RON, SGD, TRY and USD), and receiving money.
- Best for: Individuals and businesses conducting a high volume of international transactions.
Apps: iOS / Android
Payoneer
Payoneer shines as one of the best PayPal alternatives, particularly for global freelancers and businesses. It facilitates seamless international transactions, empowering users to receive payments in their local currency from foreign clients.
But that’s not all.
Payoneer’s capabilities extend beyond simple transactions. It supports withdrawals to local bank accounts, enabling freelancers and businesses to enjoy easy access to their funds. Additionally, it provides multi-currency virtual bank accounts, a critical tool for managing global payments.
Here’s how Payoneer operates: Say you’re a freelancer in India with a US-based client. They pay you in dollars into your Payoneer account. You can then withdraw this amount in rupees to your local bank, avoiding hefty conversion fees.
- Pricing: Receiving payments is free but Receiving payments from customers via credit card or eCheck carries a fee of 3% and 1% respectively.
- Ideal for: Freelancers, eCommerce businesses, and companies dealing with international clients.
Apps: iOS / Android
Stripe
Stripe is a best PayPal alternatives, known for its extensive customizability and comprehensive API. It’s a perfect fit for online businesses requiring advanced payment solutions.
But that’s not where it ends.
Stripe supports multiple payment methods, including digital wallets, credit cards, and direct bank transfers. It even has options for subscriptions, invoicing, and financing, making it a versatile tool for any online business.
Here’s how Stripe operates: An eCommerce store uses Stripe’s APIs to build a tailored payment system. Customers then pay using their preferred method, and the funds go straight into the store’s Stripe account.
- Pricing: Stripe charges a flat fee of 2% + 3% per successful charge.
- Ideal for: Online businesses and eCommerce platforms looking for a strong, developer-friendly payment system.
Apps: iOS / Android
Square
Square has carved its niche as a fantastic and one of the best PayPal alternatives, particularly for brick-and-mortar businesses. This payment system stands out with its diverse range of point-of-sale hardware and intuitive business management software.
But Square offers more than just a POS system.
It also provides inventory management, customer relationship tools, and analytics, making it an all-in-one business management solution. Small businesses can use Square to accept payments, manage inventory, and analyze sales data, all from a single platform.
So how does Square work? When a customer makes a payment, the business processes the transaction using Square’s POS system. The funds then go into the business’s bank account, usually within one to two business days.
- Pricing: You can begin it for free of cost. However, Square’s Plus pricing starts at $29 per month. Further, the option to set your features according to your choice is also present with personalized fee structure.
- Best for: Small to midsize businesses looking for an integrated payment and business management solution.
Apps: iOS / Android
Shopify Payments
Shopify Payments shines as a stellar, one of the best PayPal alternatives for online businesses. What makes it unique is its seamless integration with the Shopify e-commerce platform.
Shopify Payments isn’t just a payment gateway.
It also offers a comprehensive e-commerce platform with tools for inventory management, order tracking, customer relationship management, and sales analytics. This means e-commerce businesses can manage their online store and payments all within the same platform.
So, how does Shopify Payments work? When a customer places an order, Shopify Payments processes the transaction. The funds are then transferred to the business’s bank account, typically within three business days.
- Pricing: Shopify Payments charges a fee starting at free trial and is preferred by millions of people.
- Best for: E-commerce businesses seeking an integrated payment gateway and online store solution.
Apps: iOS / Android
Authorize.Net
Authorize.Net is a solid and one of the best PayPal alternatives known for its exceptional security measures and flexibility. This platform caters to businesses that prioritize secure transactions and require advanced customization.
Authorize.Net stands out not only for its payment processing but also for its value-added services. It includes features like recurring billing, customer information management, and fraud prevention, making it a comprehensive solution for secure online transactions.
The platform works by processing payments through a secure and encrypted channel, ensuring that customer data is safe throughout the transaction. This gives businesses and their customers peace of mind when it comes to security.
- Pricing: Authorize.Net operates on a model of monthly fees and transaction charges and variety of plans.
- Best for: Businesses looking for a secure and customizable payment gateway that also offers fraud prevention.
Apps: iOS / Android
Amazon Pay
Amazon Pay serves as a superb alternative to PayPal for those who want to capitalize on Amazon’s gigantic customer pool. This payment solution offers customers a smooth and secure checkout process, making use of the payment and shipping details stored in their Amazon accounts.
The primary advantage of Amazon Pay is the integration with Amazon’s ecosystem, instilling trust and familiarity. The chances of cart abandonment are significantly lower when customers see a payment method they know and trust. It is one of the best PayPal alternatives.
Amazon Pay isn’t just about checkout, though. It offers fraud protection and allows for voice payments through Alexa, ensuring a multifaceted, secure, and modern payment experience.
- Pricing: Amazon Pay adopts a transaction-based pricing structure. For domestic transactions, the cost is 2.9%.
- Best for: E-commerce businesses wanting to provide familiar checkout experiences to Amazon’s vast customer base.
Apps: Available on both iOS and Android.
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Quickbooks Payments
QuickBooks Payments, a PayPal alternative, caters to those already in the QuickBooks ecosystem. The service enables businesses to accept credit card payments right inside invoices, making it easier for customers to pay instantly.
The charm of QuickBooks Payments lies in its seamless integration with QuickBooks accounting software. Your payment records align with your financials automatically, which makes reconciliation a breeze.
It is the best PayPal alternatives. It is one of the best Paypal alternatives.
Moreover, this solution offers a mobile card reader, enabling you to accept card payments anywhere. You can manage your payments on the go, which is a huge plus for businesses with physical operations.
- Pricing: QuickBooks Payments works on a pay-as-you-go basis. For card swiped transactions, it charges $15 for the starters; while for gaining more features, such as Banking with 5.00% APY, Access expert tax help, or Bookkeeping automation there are other plans too.
- Best for: Businesses that use QuickBooks for their accounting needs and want a fully integrated payment solution.
Apps: Available on both iOS and Android.
Braintree
Braintree, a subsidiary of PayPal, prides itself on providing businesses with a flexible, robust payment gateway. Despite being part of the PayPal family, it does stand out as an impressive alternative due to its wider range of accepted payment types.
What sets Braintree apart is its ability to process payments from almost any source, including all major credit and debit cards, PayPal, Apple Pay, Google Pay, and even Bitcoin.
This makes it an ideal choice for businesses that need to cater to a diverse customer base with varied payment preferences.
Also, Braintree provides extensive support for mobile payments. It’s not just about making payments; it’s about making them easier, faster, and more efficient, regardless of the device your customers are using.
- Pricing: Braintree operates on a transaction-fee basis, charging 2.59% + $.49 per transaction for cards and digital wallets. You can get the benefits of Account Updater, 3D Secure, Fraud Protection, and Fraud Protection Advanced.
- Best for: eCommerce businesses that want to accept a variety of payment types, including credit cards, debit cards, PayPal, and more.
Apps: Available on both iOS and Android.
2CheckOut
2CheckOut positions itself as a comprehensive commerce solution for businesses aiming to go global. Its unique selling point is the vast reach it provides, enabling transactions in over 200 countries with support for 87 currencies and 15 languages.
With 2CheckOut, you can cater to an international customer base without worrying about the hurdles of cross-border transactions. Whether you’re selling digital services, physical products, or subscriptions, this platform has you covered.
It is the best PayPal alternatives.
A distinctive feature of 2CheckOut is its adaptive, localized checkout experience. This means customers can complete purchases in a manner that’s familiar to them, enhancing conversion rates and customer satisfaction.
- Pricing: 2CheckOut operates on a tiered pricing model with rates starting from 3.5% + $0.35 per successful sale. Rates vary depending on your sales volume and the level of features needed.
- Best for: Businesses looking to make an impact on a global scale, selling both physical and digital goods.
Apps: The 2CheckOut app is available for both iOS and Android devices.
Dwolla
Dwolla pitches itself as an agile solution for money transfers that fits perfectly within your existing software platforms. The spotlight is on its ability to flawlessly facilitate bank transfers through its powerful API.
Dwolla lets businesses handle money movements without getting tangled in the complexities of traditional banking systems. What’s the secret? It’s the seamless integration of the Dwolla API within your applications.
With Dwolla, you’re not just transacting; you’re innovating. Whether you need to send, receive, or facilitate payments, it’s all streamlined with Dwolla’s robust functionality.
Your customers won’t have to divert from your platform for transactions, providing a smooth user experience.
- Pricing: Dwolla follows a “Pay as you go” pricing model with no setup or monthly fees. The fee per transaction is customized according to their choice of features. For more advanced needs, you can opt for their scalable pricing tiers.
- Best for: Businesses needing to seamlessly and securely integrate payment functionality within their software platforms.
Apps: Dwolla currently doesn’t offer a mobile application as its primary focus is API integrations.
Conclusion
So there you have it, folks! We’ve walked you through the reasons why you might need best PayPal alternatives and introduced you to the top 13 options out there. We’ve seen how each one offers its own unique benefits.
Whether you’re looking for better protection for digital sales, lower transaction fees, a solution to the pesky account freeze issue, or faster withdrawal speeds, there’s likely a perfect fit for you in this list.
From Wise with its impressive exchange rates, Google Pay’s seamless integration with your Google account, to Stripe’s comprehensive features, there’s plenty to choose from.
And let’s not forget Payoneer, Shopify Payments, Authorize.Net, Square, Skrill, Braintree, Dwolla, Quickbooks Payments, 2CheckOut, and Amazon Pay.
Remember, it’s about finding what suits your needs the best. Happy payments, everyone!
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