21 of the Best PayPal Alternatives for Digital Payments

 21 of the Best PayPal Alternatives for Digital Payments

#1) Google Pay

Google Pay is a secure mobile payments app and digital wallet developed by Google. The payment solution powers online, in-app, and contactless purchases on a mobile device. This allows users to make payments with tablets, Android phones, and even watches.

Pricing

There are no additional fees when you use a debit card to make a purchase in-store or through a service, There is, however, a 2.9% fee for credit card payments.

Google Pay Strengths

• Contactless payment with easy data collection for analysis
• Simple integration with Google Assistant
• Safe and secure payments under the Google brand

Google Pay Weaknesses

• The app is not accepted everywhere (limited number of banks)
• Your secure data can be easily hacked when the device is lost
• The app can crash in the middle of a transfer

#2) Skrill

Established in 2001, Skrill is a digital wallet provider that offers various online payment and money transfer services. Since its launch, Skrill has expanded its cross-border operations in over 120 countries, in 40 different currencies. Make fast and secure payments with a virtual wallet that adds convenience and safety.

Pricing

Sending and receiving money is free with a Skrill account as long as no currency conversion is involved. Any type of withdrawal costs $5.50. Making a credit card transfer also comes with a 2.99% fee. If you don’t use the account, there’s a monthly inactivity fee of $5.00. It also costs a one-time, $10 application fee for the prepaid Skrill Visa card.

Skrill Strengths

• Ability to spend on European websites and transfer money outside of the US
• Omnichannel payment processing (ACH, e-commerce, mobile)
• Both pre-built and custom dashboards and reporting

Skrill Weaknesses

• User support is often inundated with queries
• Customers aren’t always notified during maintenance mode
• Accounts can be closed without warning (security too strict)

#3) Tipalti

Tipalti makes automating payables faster, safer, and more efficient. The end-to-end solution modernizes operations while providing an effective payment gateway. Your business will thrive in a unified cloud platform with built-in tax compliance.

From AP automation to virtual payment services and digital marketplaces, Tipalti is a robust platform that delivers a worldwide white-label experience.

Pricing

Tipalti offers two affordable packages that are designed to help your business grow: Tipalti Express and Tipalti Pro. Express is the trimmed-down solution for teams that need straightforward payment capabilities.

Tipalti Pro includes W-8 tax forms, international tax IDs, and multi-entity payables. The pricing for Pro and Express varies depending on needs, processing requirements, and users.

Tipalti Strengths

• Gives you a 360-degree view of the AP process with an intuitive dashboard

• Automates financial processes to streamline operations and saves time by 80%
• Self-service supplier onboarding and tax compliance validation
• Reduces error rates by scrubbing data against 26,000 rules
• Global mass payments and fraudulent payment risk reduction

Tipalti Weaknesses

• The reporting tool can have a steep learning curve
• There have been some issues syncing certain integrations
• Once an invoice is processed, you cannot change the data

#4) Payoneer

Payoneer is very similar to PayPal and offers a merchant account that provides money transfers and digital payment services. It’s the world’s go-to partner for ecommerce businesses, online stores, small companies, enterprises, and more. Payoneer also offers working capital, borderless payments, and endless opportunities for business growth.

Pricing

Pricing for Payoneer depends on what you are trying to do. Getting paid will cost you 3% of the transaction for credit cards and 1% of ACH transfers. Withdrawing funds is up to 2% of the transaction. It costs a $1.50 fee for domestic funds and a 2% fee for non-local currency. If you do not use your account, there is also a $29.95 per year fee. This is waived with normal activity.

Payoneer Strengths

• Payoneer offers a 360-degree view of the AP process
• Add and save wallets in multiple currencies including providing bank details
• Exchange rates are very reasonable and even better than similar platforms

Payoneer Weaknesses

• Customer support takes a long time to respond to urgent queries and fix problems
• Rather high ATM withdrawal fee (2% per transaction instead fixed rate)
• There is no way to recover the account after an accidental issue

#5) Square

Square is the perfect solution for small companies, freelancers, and pop-up shops. You can quickly and easily process payments securely with the Square payments app and accept a variety of payment types, including:

• Tap, Dip, or Swipe
• Key-in
• Online payments
• Invoices

Square also features an open API for deeper customizations. There are no extra fees, long-term contracts, or other big surprises for business owners.

Pricing

For Square, the standard processing fee is 2.6% + 10 cents (contactless, swiped, chip cards, and magstripe). Manual key-in payments are 3.5% + 15 cents.

Square Strengths

• Square does not have monthly fees and the fee schedule is very straightforward
• A large number of Square tools come with free hardware
• The system offers detailed reporting and filters for in-depth analysis

Square Weaknesses

• Processing fees continue to rise, which can burden smaller businesses
• It’s difficult to switch accounts between locations
• The instant deposit fee is high compared to other platforms

#6) Stripe

Stripe is a payment processor that offers custom APIs for ecommerce companies and mobile apps. The platform accepts over 135 different payment methods, multiple currencies, and is the best software for running an online business. With integration, you can start taking payments directly through your website or app.

Pricing

Stripe charges a 2.9% + 30 cents fee per transaction. You can also opt for a customized solution with different price offerings, depending on business needs.

Stripe Strengths

• Intuitive, full of features, and super easy to use
• Most e-commerce software already supports Stripe
• Instant Payouts feature (for an extra fee)

Stripe Weaknesses

• It’s not a useful product for traditional retail or brick-and-mortar stores
• Stripe does not support high-risk industries
• May need a software developer to integrate the solution

#7) Venmo

Venmo is a mobile payment service that makes transferring money easier for small businesses. With over 60 million active users, it provides a social way to transact, without the need for a PayPal account. Payments can be made through the app or in-person via a QR code.

Pricing

A simple transaction from your bank account, debit card, or account balance is always free. If a credit card is used to pay, there is a 3% chargeback per transaction.

Venmo Strengths

• Makes sending money fast and secure with a simple user interface
• A mobile business can use Venmo from anywhere, at any time
• Offers a variety of payment options that make it easier to get paid

Venmo Weaknesses

• Only accessible in the United States
• Once a payment is made, there is no way to reverse it
• Payments are public by default so there’s a total lack of privacy

#8) Remitly

Remitly is a mobile banking solution and international payments company that enables a business to make cross-border transactions. It’s fundamentally faster and cheaper than other tools, with a best-in-class exchange rate and an easy-to-use interface.

Pricing

Remitly fees depend on transfer speed, the amount of money you’re sending, and the country of the recipient. If you select Economy, the fees are lower, and delivery is in 3-5 business days. Express has higher fees, which may also increase if you’re sending more money, and delivery typically takes a few minutes.

Remitly Strengths

• Highly-competitive transfer rates for international transactions
• Offers quick and safe currency conversion
• Processing services are reliable and flexible for global business

Remitly Weaknesses

• There are limits on money transfers
• Cash pickup is not available in many countries
• Reports of slow customer service and support

#9) Klarna

Klarna is a Swedish buy now, pay later (BNPL) solution that provides financial services such as online payments, post-purchase payments, and direct payments. It also offers zero-fraud liability for complete security and protection. The company gives customers a variety of payment methods including financing, installments, and 30-day payment terms.

Pricing

All payment options for Klarna costs 30 cents per transaction, plus a variable rate of 3.29% to 5.99%. The Instant Shopping feature costs $30 per month, in addition to a 30-cent transaction fee. The shopping feature also charges variable rates of up to 3.29% for onsite sales and 3.79% for offsite sales.

Klarna Strengths

• The fee structure for Klarna is very straightforward
• Customer service has been rated as exceptional
• The company allows you to split or BNPL (buy now, pay later)

Klarna Weaknesses

• Klarna is only available in limited countries
• The solution can be on the higher end for cost
• Payment plans are short (6 weeks to make 4 payments)

#10) Apple Pay

Apple Pay is a digital wallet and mobile payment service that works with any Apple device. It enables users to make payments in-person, via iOS apps, and on the web using the Safari browser. A business can send and receive funds straight through messenger, simplifying the payment process and expanding your point of sale opportunities.

Pricing

Apple Pay is generally free for Apple users on a limited basis. However, larger companies will be charged with custom pricing. For a current quote, you must contact Apple. Online reports state the platform is 36% less expensive than the average payment gateway solutions.

Apple Pay Strengths

• The app is compatible with all major banks and credit unions
• High-level measures of security
• Easy to use and simple to set up

Apple Pay Weaknesses

• Apple Pay is only available for iPhone 6 and up
• Transactions can get glitchy
• The app is not universally accepted

#11) Hyperwallet

Hyperwallet is a fintech brand and global payments solution that enables localized, multi-currency payments to almost anywhere in the world. It’s a frictionless payment experience whether you’re dealing with earnings, royalties, or commissions. Hyperwallet is trusted by ecommerce and enterprises alike to efficiently distribute global funds in a single platform.

Pricing

To get an idea of the extra cost, you must contact the third-party payment processor. Hyperwallet only operates and provides services through local affiliates. This means the pricing is never transparent.

Strengths

• The system is easy to use with a small learning curve
• Full-stack payout capabilities
• A great solution for cross-border payments at high volume

Weaknesses

• Pricing is not visible and is reported to cost more than competitors
• UX on the backend is outdated
• The setup process can be timely depending on the country

#12) PaySimple

This Colorado-based fintech company offers simple echeck and credit card processing, and is trusted by over 20,000 businesses. PaySimple offers a free trial with no contracts, and a low-cost way to accept payments and cut down on processing costs. The system allows you to swipe cards, set up recurring transactions, create web payment forms, send electronic invoices, and much more.

Pricing

PaySimple has a straightforward pricing plan and was developed for the unique needs of a service-based business. Credit card processing is 2.49% per transaction plus monthly fees. ACH and checks will cost 69 cents plus .25% per transaction.

PaySimple Strengths

• System keeps you updated on payments that did not go through
• Unified dashboard for at-a-glance management
• Easily quote, close, and take the deposit or full payment for a sale

PaySimple Weaknesses

• Needs an easier way to automate recurring billing from an online sales page
• Cannot send ACH payments to vendors
• Disconnects between the contact record details and transaction records

#13) Bolt

Bolt helps to upgrade the checkout process for online retailers. The mobile-based solution offers a 100% fraud chargeback guarantee, and access to millions of shoppers on the Bolt network. Order approval is faster and easier with Bolt One-Click checkout, and the solution connects seamlessly with ecommerce platforms like Magneto.

Pricing

Bolt offers custom quotes for a business, so pricing is not available online. When determining cost, they look at factors like:

• Sales volume

• Business type
• Fraud risk

Bolt Strengths

• Lightning-fast checkout to increase conversion rates
• Very responsive customer service team
• Fast shopping cart load times for mobile customers

Bolt Weaknesses

• The fees per order are higher than other platforms
• When orders are deemed fraud, the customer is not notified until the order has already been canceled
• The UI isn’t granular (for transaction history)

#14) PayOp

PayOp is an online payment platform that allows a business to accept global payments from over 170 different countries. The cloud-based software is designed to process hundreds of different currencies, and facilitate transactions using multiple payment methods. Companies can optimize payment rates, lower processing costs, and get rid of connected fees.

Pricing

Since there are over 300 methods for online processing, prices will vary. Rates start at 2.4% per transaction, plus a 2-cent fixed fee.

Strengths

• Fast withdrawals (1-2 business days)
• White-glove customer support through Skype
• An efficient platform for high-risk industries

Weaknesses

• Transactions can be blocked by the payer’s bank
• There have been issues with plugin integrations
• The risk team can be overzealous and close accounts prematurely

#15) NETELLER

NETELLER is a digital wallet that makes managing money quicker, easier, and more secure. It enables a business to access funds instantly with over 100 payment methods and multi-currency accounts. The platform offers some of the highest deposit acceptance rates on the market. A company can also withdraw funds using the Net+ prepaid card.

Pricing

NETELLER offers a variety of integrations to fund your business account, so the fees vary depending on the third party. The average processing cost reported is 2.5% per transaction.

Strengths

• The company offers a Net+ prepaid or virtual card
• Serves as a digital wallet with top security
• ATM withdrawal in several different countries

Weaknesses

• There may be hidden fees depending on the third-party
• It can be hard to find as a checkout option with online shopping
• There is a minimum limit on transfers and money you can send

#16) Paysera

Since 2004, Paysera is a fintech company that provides convenient, fast, and reliable payment services worldwide. It’s a cheap and safe way to send and receive money online, and offers a multi-currency account to facilitate cross-border transactions. Like PayPal, it operates much like a virtual bank, offering a variety of different ways to manage money.

Pricing

The cost will vary depending on the type of currency, recipient’s bank, and speed of the transfer. Although the exchange rate will affect the cost, Paysera offers competitive rates (usually within a 1% margin).

Paysera Strengths

• There is no fee to transact between Paysera accounts
• Apply for a contactless debit card to be linked to the account
• There is a separate account for savings with a split bill feature

Paysera Weaknesses

• The card is only issued for EEA (Europe) and requires an IBAN account
• The verification process can be long and complicated
• There is a daily ATM withdrawal limit (depending on the country and currency)

#17) SpotOn

SpotOn is a payments platform that makes it easy to accept payments quickly and securely, whether selling in-person, online, or on the go. The system is built for the service industry and offers a variety of features to help with in-depth reporting. SpotOn also offers some of the most competitive merchant processing rates in the business.

Pricing

SpotOn pricing starts at $65/month per station, plus a one-time setup fee. For a custom quote, you’ll need to contact sales.

SpotOn Strengths

• The customer support infrastructure is unparalleled compared to other systems
• Centralizes all business hubs into a universal dashboard
• A user can upload and update data in minutes

SpotOn Weaknesses

• Digital gift card glitches for online ordering
• Upgrade issues may interrupt service
• Can’t ship directly from Thryv when an invoice is fulfilled

#18) Authorize.net

Authorize.net is a US-based payment gateway service provider that enables companies to accept credit card and electronic check payments through their sites and over an IP connection. The platform also allows merchants to accept and manage check transactions via websites, call centers, retail stores, mail orders/telephone orders (MOTO), and mobile devices.

Pricing

The monthly cost for Authorize.net is $25. The processing cost is 2.9% + 30 cents per transaction.

Authorize.net Strengths

• The system is high functioning and one of the most secure payment processing applications on the market
• The user-friendly interface is simple with easy deployment
• Search payments using multiple options

Authorize.net Weaknesses

• There is no text-to-pay feature, can only email invoices
• Payments can only be accessed for a limited amount of time
• Set up and integration can be a confusing process

#19) Wise

Formally known as Transferwise, Wise is a money transfer service that offers business-facing banking solutions. The fintech platform allows you to send and receive payments, as well as manage even cash flow. A Wise Business account also connects to QuickBooks Payments.

Pricing

Wise claims to cost 19 times less than PayPal, and 6 times less than traditional banks. The system charges $31 to set up an account, and there is a $4.14 fee for USD wire transfers. Receiving non-wire payments is free. Sending money comes with a fee that starts at 0.41%, depending on the currency.

Wise Strengths

• Wise integrates with Stripe and Amazon accounts
• Bulk payments are easy to set up
• A business can manage funds in multiple currencies

Wise Weaknesses

• Pre-built reports are not always user friendly
• Wise is not a bank, so cash deposits and/or pickups are unavailable
• European standards have to be modified like SSCC and certain EAN codes

#20) Dwolla

Dwolla is a US-only fintech company that facilitates the ACH Network or RTP® Network for businesses. The system can organize and scale the payments process with direct access to the ACH network with a seamless API for open integration.

Pricing

Dwolla charges a fee of .5% of the transaction amount. The minimum fee is .01 cent, and the maximum is $5.

Dwolla Strengths

• Customer support that is attentive and knowledgeable
• Real-time analytics displayed on the universal dashboard
• Simplified, plug-and-play 3rd-party integrations

Dwolla Weaknesses

• The brand has poor Java support
• API tends to be over-designed and confusing
• Checks cannot be supported as a form of payment

#21) 2Checkout

2Checkout’s payment processing solution enables a business to take online and mobile payments in more than 200 countries. It also supports 100 currencies and nearly 30 languages. A company can tap into international markets, boost conversion rates, run a subscription-based business, and much more.

Pricing

2Checkout has 3 plans: 2Sell, 2Subscribe, and 2Monetize. 2Sell is simple and easy with a cost of 3.5% + 30 cents. 2Subscribe has a fee of 4.5% + 45 cents per successful transaction. 2Monetize will cost you 6% + 60 cents. Custom pricing models are also available.

2Checkout Strengths

• Integrates with Shopify Payments, Wix, Amazon Pay, and more than 120 other carts
• PCI Level 1 certification for advanced cybersecurity
• It’s a good solution for subscription-based businesses

2Checkout Weaknesses

• Customer support team is slow to respond and solve issues
• The platform does not support in-store payment processing
• Shopping cart design needs to be updated