Top 5 PayPal Alternatives for Accepting Online Payments

April 12, 2021

Top-5-PayPal-Alternatives-for-accepting-online-payments

When PayPal hit the web-based business scene, it revolutionized the way online businesses managed sales transactions.

As a free way to make virtual payments, PayPal made shopping simpler for consumers and business owners alike.

At the click of a button, people could send cash without sharing touchy data, for example, credit card or bank account numbers.

It gave individuals the certainty they expected to shop online, and made it simple for business owners to acknowledge universal payments.

Today, there are more than 286 million individuals utilizing PayPal to make online buys, and it’s no big surprise why.

PayPal is:

Quick: It saves your data, so you don’t need to fill out payment forms every time.

Simple: You can send cash with your PayPal balance or from your bank account with no additional charges.

Secure: They don’t uncover payment account details and they strive to protect your data.

Investigate these other options and pick the one that bodes well for your customers and your business.

1. Google Pay App

Established: 2021

Pricing: Bank transfers and debit card action is free. Credit cards charge 2.9% of the transaction amount.

Google Pay is an application that offers benefits for both merchants and customers.

Users can save credit and debit card payment information to their Google Pay accounts fast and simple payments from essentially any place.

Businesses are not just ready to smooth out the payment process for their customers however can use this service as a digital marketing tool, sending mobile offers and product recommendations to a targeted audience.

Google is a broadly recognized and highly trusted company, so people feel great trusting them for their online payment needs.

2. Square

Established: 2009

Pricing: Each exchange is charged a 2.9% fee plus $0.30.

Initially launched as an answer for mobile POS transactions, Square’s digital readers allow clients to make credit card, cash, and check payments.

It currently includes huge loads of advantages for online transactions through virtual invoicing and real-time inventory management.

Square even offers payroll support, allowing employees to clock in and out of work and accept payment via direct deposit.

One feature is that Square awards small business loans, with percentages of daily Square sales going toward the loan payment.

3. Stripe

Established: 2010

Pricing: Similar to PayPal, Stripe charges 2.9% of the transaction amount, plus $0.30.

Stripe is a popular choice for entrepreneurs who need a flexible application programming interface (API).

This platform believes that payment issues are not based on finance, yet on code.

Thus, they’re easy to customize and integrate into a variety of operating systems.

Stripe empowers storekeepers to oversee transactions from any place on the planet.

They provide mobile payments and can store your funds directly into your bank account.

While Stripe is customizable and highly flexible, it’s best for storekeepers who have some background in computer programming.

4. Payoneer

Established: 2005

Pricing: Payoneer clients make payments for free. Client credit cards are charged 3% and virtual checks are charged 1%.

Little and medium-sized businesses advantage the most from Payoneer, whose emphasis is on eCommerce, freelancing, vacation rentals, and online advertising.

Users who have an online account also receive a debit card, so funds can be withdrawn from banks or ATMs anyplace on the planet.

Payoneer’s efficiency is second to none. Transactions are complete in only two hours!

5. Shopify Payments

Established: 2013

Pricing: An essential Shopify account plan starts at $29 each month. Credit cards are charged 2.9% plus $0.30.

Shopify is a famous eCommerce platform for more than a million store owners.

Shopify Payments empowers these venders to sidestep outsider services and accept all significant credit and debit card payments directly on their store.

Transaction details are synced with each Shopify order, so the entirety of your information is accumulated in one spot.

It’s also exceptionally flexible for retailers and customers and can be used with social media accounts, Amazon, and eBay.

As an added bonus, Shopify Payments converts to Shopify POS (Point of Sale), so merchants can use this same feature in their brick-and-mortar locations as well.

Pick a Plan that Makes Customers Happy

With continuous technological advancements and eCommerce capabilities, there are tons of virtual payment alternatives available to eCommerce sellers.

Whether you stay with PayPal or lean toward any of the choices on this list, remember your ultimate goal is to give the best user experience for your customers.

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