If you think about online payment systems, perhaps the first site that pops into mind is PayPal. There was a time when this online payment processing system was the most revolutionary piece of digital technology in the online world. It allowed users from all over the globe to send and receive money from friends, family, colleagues, and even employers. As time progressed, this payment portal spawned multiple similar options on the Internet. You might even be on the lookout for the best PayPal alternatives.
Are there other options besides PayPal?
Even if PayPal is perhaps the most widely used online payment platform on the Internet, it doesn’t mean it’s now the sole provider of that service. There are other similar selections you can choose from that allows invoicing, payment reporting and processing, and sending and receiving payments. Despite the fact that PayPal’s interface is already a solid design, there are still many reasons why you might want to choose other similar online systems.
Get the lowdown on other payment processing options.
So, where are these online payment systems? You’ve come to the right place! We’ve already done all the necessary research for you. Now, you no longer need to spend countless hours in front of your computer trying to search for the best alternatives to PayPal. All you have to do now is to read on as we give you our list of the top recommended sites like PayPal available on the World Wide Web.
1) Venmo
We did mention that PayPal already spawned a number of similar payment processing options on the Internet. One of those sites is a subsidiary of PayPal known as Venmo. This platform is relatively new to the digital payment processing world but is now widely accepted among millennials. At its core, this site is a digital wallet to allow users to send money to people found in their contacts. Hence, it offers a personal touch as opposed to PayPal that may be seen to primarily target businesses.
From within Venmo’s interface, users are free to send money from the connected bank account. You don’t even have to use a credit card to transfer cash. However, if you do use your credit card, keep in mind there’s going to be a 3% interest charge.
This online processing platform focuses its services on sending money to someone you trust as opposed to an employee. Users can take advantage of its features to send money to a friend who’s trying to book a hotel for the entire gang. This website also has no features meant for paying bills or other similar transactions.
2) TransferWise
If there’s one thing people don’t like too much about PayPal, it’s their fees. TransferWise, on the other hand, is a cheaper alternative, especially for international transfers.
TransferWise offers borderless services to help consumers, businesses, and freelancers, to receive, send, and spend cash across different countries with minimum charges. It does away with any hidden fees and sticks their services with nothing but upfront costs.
This online payment platform even has an interesting way of moving money around the globe. For instance, let’s say you’re going to send money from the US to a family member in Australia. You’d have to make a payment to the TransferWise American bank account first. Next, the site will then pay your relative from the TransferWise Australian bank account using real exchange rates (and not the exchange rate adhered by other similar services).
While it does sound appealing, it’s not the perfect online cash processing system out there. There are some drawbacks you may have to deal with. For instance, you can’t send or receive money if it’s not done through a bank transfer. Furthermore, the service can only cater to a limited number of currencies namely EUR, AUD, USD, and GBP.
3) Dwolla
Netizens who’ve already chanced upon Dwolla will find its services more similar to Venmo than PayPal. Considered one of the best PayPal alternatives, this online money processing platform allows users to send money to a known contact from within the app. Its services allow for transfers from $10 and up. Keep in mind that all transfers do come with a $0.25 charge. However, it wouldn’t matter if you’re going to send $1,000 because the cost of transfers will always stay at $0.25.
This mobile application has a user-friendly interface. It also has a strict verification process once you sign up. The company behind the app may even require you to send a photo to them for security purposes. If they do require you to send an image of yourself, then you may have to wait a couple of business days for account approval.
At the time of writing, Dwolla is only available in the United States. However, it’s one of the faster alternatives on this list as you can request for next-day transfers.
4) 2Checkout
One of the favorite payment processing options on the Internet besides PayPal is 2Checkout. It garnered its fame thanks to its services that allow for global payments. In other words, it wouldn’t matter where you’re currently residing as you can send or acquire payments from within this application. Speaking of its app, you have the option of taking advantage of either the web interface or the mobile app.
The fees found in 2Checkout are the same as PayPal’s but only for US accounts. As for users found in other countries, they can enjoy better rates from this payment platform.
There are other multiple advantages to using 2Checkout. For instance, there are no monthly or setup fees required. Furthermore, the service accepts all major payment options such as debit cards, credit cards, and even PayPal. Users can also benefit from choosing to pay or receive cash from 87 currencies from eight payment types. The site and the app also have multi-language support as it caters to users in 15 available languages.
5) Google Wallet
Google is known as a tech and search engine company. It does offer other services but there are some people who don’t know it has a payment processing platform. This application allows users to send money from your credit card. However, there’s going to be a standard 2.9% interest fee.
Despite its relatively limiting offers, Google Wallet is still known as one of the most secure PayPal alternatives on this list AND on the Internet. You can even use the application to pay for purchases in online and physical stores. Keep in mind that those retailers should accept Google Wallet as a mode of payment. At the time of writing, not all businesses out there can cater to this payment platform.
Aside from making payment with this application, users can also use it to transfer money to contacts as well.
6) Payoneer
If you know PayPal, then perhaps you’ve already heard of Payoneer. Its design looks similar to other payment processing platforms on the World Wide Web, especially if you take a look at Skrill. Aside from its similarities with its user interface, it also has similar offerings such as letting users send and receive money to and from contacts with one step.
Perhaps the main benefit to using Payoneer is it allows transactions through debit cards. Take note there are other online money processing systems that only accept transactions from credit cards. Furthermore, Payoneer has cheaper fees as compared to PayPal and offers its services to the global market.
7) Skrill
Payoneer and Skrill may have similar designs regarding their user interfaces, but the majority of their similarities end there. The company handling the platform is headquartered in the UK, and it allows money transfers to contacts. It offers cheap transfer fees of $0.1 per transaction. You can also use it for making payments wherever it’s accepted.
There’s also one other thing that you can do with Skrill that you can’t do with many other payment processing platforms – gambling. That’s right; if you’re fond of online casinos and you fear PayPal is going to deduct your earnings, then you can use Skill instead. The service has top-of-the-line security so you don’t have to worry about your account getting hacked. Furthermore, you can use your account in just about any area in the globe provided that your device is connected to the Internet.
8) Authorize.Net
Another popular payment processing system, especially for online businesses is Authorize.Net. It’s a platform providing reasonable rates to businesses and consumers. Check out its services and you’ll also take advantage of its high-quality customer service and user interface. You don’t need convoluted instructions or steep learning curves when trying to navigate through their website.
Perhaps the main drawback of Authorize.Net is you can’t send and receive payments from family and friends. This is a PayPal alternative solely meant for companies around the globe. At the time of writing, this service has already garnered the trust of about 400,000 merchants. There’s also the free 24/7 customer support that allows you worry-free transactions even though you may be trying to transact at 3 AM.
9) Braintree
Braintree offers multiple payment processing services to its users. It features recurring billing for your credit cards and it’s packed with other functions to better manage your personal finances. Even though there are PayPal alternatives that are owned by independent companies, Braintree, on the other hand, is a subsidiary of PayPal. Still, it relatively runs independent and competes well with its parent firm.
This online money processing system has a simple and straightforward pricing structure. Users can even sync other similar platforms like PayPal, Venmo, and major credit cards to Braintree. Finally, it offers a special marketplace for businesses and consumers alike to better manage finances. However, you may need an expert web developer if you need to implement Braintree’s API to your website.
10) Amazon Pay
People who are fond of shopping in Amazon – rejoice! Amazon Pay is the platform made just for you. It allows you to check out the online store without having to switch through browsers or tabs. The system expedites the entire process of searching and buying stuff from the world famous online retailer. Some people might even compare this payment and shopping platform to a Facebook login. In other words, it’s your one-stop go-to place for everything you need in Amazon.
Amazon Pay’s transaction fees are similar to PayPal and it also boasts highly-advanced security measures compared to competitors. If you already have an Amazon account, then creating an Amazon Pay profile is going to be very easy and straightforward.
With all the options available for you, it does beg the question, “Which of these Paypal alternatives are the right ones for you?” It will make sense if you’re hesitant to try out some similar options on the Internet if you’re already accustomed to PayPal. If you’re having doubts, then you can always check out the items we’ve listed on this page. We’ve already checked (and double-checked) the privacy and security measures on these payment platforms for your benefit.