Well, if you make or receive payments online at regular intervals, you may be familiar with Paypal. PayPal is one of the best online payment services, processing over $ 150 billion in payments per quarter.
Paypal is easy to use and the majority of online shopping sites now support the Paypal gateway. However, Paypal has some drawbacks like its high fees per transaction, it is not available in some countries, it withholds payments for a long time, etc.
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10 best PayPal alternatives for making online payments
There are many online payment options available for businesses and consumers that are better than Paypal. So, in this article, we are going to share some of the best PayPal alternatives 2020 for online payments.
1. Amazon Pay
Well, Amazon Pay is a bit different from PayPal when it comes to the features. For example, it does not offer any service for personal payments as a person to person. Instead, he focuses on shopping. It is one of the great payment acceptance portals for online services, and the majority of online shopping sites now have Amazon Pay as a payment option.
This payment service is for those looking for a PayPal alternative to avoid high transaction fees. The payment service currently offers the lowest transaction fees and is feature rich. The service is available in over 200 countries and supports over 100 currencies. With Payoneer, you can send or receive money from credit / debit cards, bank account, etc.
It is one of the undervalued payment solutions available in the market. It is best known for its fast and easy international payment options. With Skrill, you can easily send payments to over 200 countries and 40 different currencies. It allows users to send money directly to the email address associated with the recipient’s Skrill account.
It is one of the best and highest rated PayPal alternatives on the list for receiving payments. However, the transaction fees are quite high. It charges 2.9% + $ 0.30 in fees per successful transaction. Apart from that, Stripe offers users a wide range of payment methods to receive payments. For example, you can configure Stripe to move all incoming payments to your linked bank account.
5. Google pay
It is one of the best payment options in India. Well it is never known for international payments but if you are looking for a payment solution for friends or family then Google Pay might be the best choice for you. It has no processing fees and can be used to make payments to contacts, stores, etc.
This one is very similar to the Stripe listed above. Much like Stripe, Dwolla allows users to earn or receive money at the registered email address. What’s more interesting is that Dwolla has a fairly low payment processing fee. Dwolla’s user interface is quite good and has an app for Android and iOS.
This is another best payment portal that acts as an intermediary between you and the payer. The payment service accepts debit cards, credit cards, etc. The great thing is that 2Checkout currently supports payment in over 80 currencies. However, on the downside, 2Checkout’s services were not available in all regions.
8. Apple Pay
This payment service currently has more than 400 million users. At first glance, people think Apple Pay is limited to iPhones only. But this is only a myth. It can also be used on iPad, Apple Watch. Apple Pay now supports credit cards, debit cards, and loyalty cards as payment options. Sending money through Apple Pay is extremely easy, and it’s mostly used for paying small amounts to friends and family.
It’s a payment option created by the people behind Skype. Compared to PayPal, TransferWise has low transaction fees and currency conversion rates. Just like PayPal, it supports different countries and currencies. So TransferWise is another best Paypal alternative in 2020 that you can consider.
Well, if you are running an ecommerce business in India and looking for a payment gateway option, Instamojo might be the best choice for you. The payment service is known for its fast payment methods. To send a payment, just type in using Instamojo using @username or email address. Likewise, you can receive payment in the same way.
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So these are the ten best PayPal alternatives in 2020 for making online payments. Hope this article has helped you! Also share it with your friends.