PayPal is the world's largest online payment platform, founded in 1998. It is the most widely used convenient payment platform that acts as a digital wallet. It had more than 244 million active accounts worldwide and used by more than 17 million businesses. It allows website owners to collect money online by selling products as well as services.
Pros of PayPal
Pros of PayPal are listed below -
Cons of Paypal
Although PayPal is a very popular online payment platform used by millions of users, there are also some PayPal alternatives are available with lower cost, better user interfaces, and better customer service.
There are the following companies that are good alternatives to PayPal -
1. Stripe - E-commerce and online businesses
Stripe is one of the most popular PayPal alternatives, specially designed for online businesses. It was created by John and Patrick Collison in 2010. It is only available for companies & businesses situated in the U.S. and Canada. It is the best option for running an internet business. It provides attractive APIs to receive payments, send payments, and manage online businesses.
Pros of Stripe
A list of Pros of Stripe is given below -
Cons of Stripe
Stripe available on iOS and Android.
Stripe fees start at 2.9 percent of the transaction value plus $0.30.
Click on the given link to create a free Stripe account - https://stripe.com/en-in
2. Skrill - Online payments and money transfer
Skrill is the well-known PayPal alternatives designed for an online payment system. It is also known as MoneyBookers. It is a simple online payment platform used for both personal as well as business use. It allows us to link accounts, store card details, send and receive money using our email address and password. It is used by more than 200 countries with 40+ currencies.
Pros of Skrill
A list of Pros of Skrill is given below -
Cons of Skrill
Skrill is available on iOS, web, and Android devices.
Skrill is free to open a personal account. It charges 1.45 percent, plus $0.50 to send and receive funds.
Click on the given link to learn more and create a Skrill account - https://www.skrill.com/en/
3. Amazon Pay - A trusted payment solution
Amazon Pay is one of the greatest and most commonly used PayPal alternatives. It is also called Amazon Payments. Amazon Pay is a payment service provider (PSP) launched in 2007. It allows merchants, shoppers, and charities to login to Amazon Pay account and saves payment details on it. It is available in 18 countries, including US, U.K., India, France, Germany, Denmark, Italy, Luxembourg, Portugal, Sweden, Spain, Belgium, Ireland, Cyprus, Hungary, and the Netherlands.
Pros of Amazon Pay
A list of Pros of Amazon Pay is given below -
Cons of Amazon Pay
Amazon Pay is available almost on all devices, such as the web, iOS, and Android.
For domestic US transactions, Amazon Pay requires 2.9 percent plus $0.30. and for cross-border transactions, it requires 3.9 percent plus $0.30.
Click on the given link to sign up with Amazon Pay - https://pay.amazon.com/
4. Square - Suitable for small businesses
Square is the popular PayPal alternatives for online payments. It is one of the cheapest payment processing service established in 2009. It allows us to accept payment using cards, cheques, and gift cards. It manages and attracts a large number of users. Its database integrates with customer feedback, invoices, and appointments.
Pros of Square
A list os Pros of Square is defined below -
Cons of Square
Square only available in the US, U.K., Australia, Canada, and Japan.
Square is suitable for the web, iPad, iOS, and Android devices.
Square charges 2.6 percent + 10 cents for each credit card transaction. For manual payment, it charges 3.5 percent + 15 cents. For eCommerce websites, Square charges 2.9 percent + 30 cents.
Click on the given link to get in-depth knowledge about Square - https://squareup.com/us/en
5. 2Checkout - Single payment provider that works with currencies, countries, as well as languages
2Checkout is considered great PayPal alternatives. It is used to collect payments worldwide. It requires the high transaction and transfer fees. It supports 8 payment types, 200 countries, and 30 languages to send and receive payments. It provides more security compared to other alternatives that's why most of the users prefer the 2Checkout payment option for online transactions.
Pros of 2Checkout
A list of Pros of 2Checkout is given below -
Cons of 2Checkout
There are the following Cons of 2Checkout -
2Checkout is available on the iOS device.
2Checkout transactions plan starts at 2.9 percent plus $0.30.
Click on the given link sign up for 2Checkout - https://www.2checkout.com/
6. Dwolla - U.S. based high volume of bank transfer
Dwolla is a fast-growing, fully customizable payment solution for businesses. It is one of the simple, cost-effective, and popular online payment service similar to PayPal. It allows us to send money to our friends and family online using an internet connection. It provides various options to make payments using the web, wallet and bank to bank, bank to seller, customer to seller, and seller to buyer payments. With a single API request, Dwolla allows us to send up to 5,000 payments.
Pros of Dwolla
A list of Pros of Dwolla is given below -
Cons of Dwolla
Dwolla supports iOS as well as Android devices.
Dwolla charges $2000 per month for small organizations and $10,000 per month for large organizations.
Click on the given link to sign up with Dwolla for the online transaction - https://www.dwolla.com/
7. Google Pay - Quick, easy, and well-known brand
Google Pay is a simple, fast, more convenient, and most widely used online payment transfer mode available only in the USA and India. It is one of the best PayPal competitors. It is available for iPhones as well as Android. It also function as a virtual wallet, store credit and debit card information within Google account for making it easily available anywhere using an Internet Connection. It provides various payment management tools and easily integrates with e-commerce website stores, apps, CMS sites, and more.
Pros of Google Pay
A list of Pros of Google Pay is given below -
Cons of Google Pay
Google Pay is used on Andriod devices.
Google Pay is completely free to use.
Click on the given link to know more about Google Pay and sign up with Google Pay - https://pay.google.com/about/business/
8. Payoneer - Small to medium-sized businesses
Payoneer is the most commonly used PayPal alternatives in the world. It is founded in 2005 and provides the best solution for small or middle-sized businesses. Payoneer provides a peer to peer payment transfer method that allows us to send money anywhere in the world. It operates in more than 200 countries, including India, Pakistan, Japan, Canada, Australia, and more. Using Payoneer, users can quickly check account balance, do multiple transactions, and fund withdrawals.
Pros of Payoneer
A list of Pros of Payoneer is given below -
Cons of Payoneer
Payoneer is suitable on iOS, Android as well as web versions.
Payoneer plan starts at the cost of $29.95 a month.
Click on the given link to create a free Payoneer account - https://www.payoneer.com/raf/?rid=AE0F6CEF-C44F-4FE0-B8EF-5B480E64B830
Payline is one of the best PayPal alternatives. It offers various flexible credit card processing solutions for mobile, online, and in-store payments. It easily integrates with Shopping carts, QuickBooks, card readers, as well as Point of sale (POS) systems. Payline provides popular features like custom invoicing, ACH payments, and custom payment pages.
Pros of Payline
A list of Pros of Payline is given below -
Cons of Payline
There are the following Cons of Payline -
Payline is available on iOS and Android devices.
Payline paid plan starts at the cost of $10 per month for visual terminal + 2.25 % transaction fee.
Click on the given link to get in-depth knowledge about Payline - https://paylinedata.com/
10. WePay - For small businesses
WePay is a PayPal alternative developed in 2008 and owned by JP Morgan Chase. It is used for smooth operations and straightforward onboarding. Due to the low weekly limit, it is not suitable for a merchant account. WePay online services are available in the US, UK, and Canada. Its daily transaction limit is $10,000 per week.
Pros of WePay
A list of Cons of WePay is given below -
Cons of WePay
There are the following Cons of WePay -
Desktop, iOS, and web support WePay platform.
WePay charges 2.9% + $0.30 for each transaction.
Click on the given link to visit WePay official website - https://go.wepay.com/
11. Braintree - Suitable for large businesses and corporations
Braintree is the best Paypal alternatives. It is a global payment platform that supports various types of payments. It is a developer-friendly platform that is used to accept online payments in more than 45 countries with more than 130 currencies. This payment solution is used by large organizations such as Uber, DropBox, GitHub, and more. It allows us to collect recurring bills as well as store credit cards. Braintree offers Python, Java, iOS, PHP, and Android libraries.
Pros of Braintree
A list of Pros of Braintree is given below -
Cons of Braintree
Web, Android, and iOS devices support Braintree online payment platform.
Braintree standard plan charges 2.9% plus 0.30 cents per transaction, and a custom plan is available based upon the customer's request.
Click on the given link to get in-depth knowledge about Braintree sign up with the Braintree - https://www.braintreepayments.com/
12. Venmo - Best for Millennials
Venmo is a widely used popular mobile payment system for individual online payments and bank to bank transfer. It is a fast, reliable payment platform that allows us to securely send money to our contacts. It allows us to add a bank account as well as debit card information. Currently, more than 60 million people use the Venmo platform for the online transaction.
Pros of Venmo
A list of Pros of Venmo is given below -
Cons of Venmo
Venmo supports iOS as well as Android devices.
Venmo is completely free if we make payments through a debit card and bank transfer. It charges 3 percent per credit card payment.
Click on the given link to get in-depth knowledge about Venmo - https://venmo.com/