Moreover, there are too many countries where PayPal is still not accepted. So to make online payments easy in those countries and all over the world, there are various companies other than PayPal that made online payments simplified for small businesses. And if you’re searching for PayPal alternatives for whatsoever reason then this post is definitely for you.
PayPal is absolutely one of the best online payment systems to send and receive money internationally, used by 325 million humans in over 200 different countries.
Not only this, at PayPal you can receive money in more than 100 currencies, withdraw funds in 56 currencies, and keep balances in their PayPal accounts in 25 currencies.
But, that does not mean there are no other websites like PayPal out there. So in this post, we have curated the list of 9 PayPal opponents that you can use in 2021 for your business.
From the previous few years, nearly everything is going digital and that gave birth to many services like PayPal.
So, without much ado, let’s dive in.
Best PayPal Alternatives to Use in 2021
Here is the list of the excellent PayPal alternatives that you can choose in 2021 to do online payments with ease.
The very first PayPal alternative that we have is Payoneer which is nearly similar to PayPal and has a strong presence with 4M customers in more than 200 countries and territories along with India.
Payoneer was established back in 2005 in New York City. Now they have 21 offices with 1500 employees that allow millions of businesses and experts to join with each other and develop globally.
Like PayPal, Payoneer also gives two types of accounts, Individual and Business. You can sign up for free, withdraw your cash to your local bank account, and you will be charged based on the services you use.
Moreover, Payoneer also allows you to send payment requests and make payments from your Payoneer account.
But the best thing about using Payoneer over PayPal is that the transaction charges are comparatively lower and you will end up saving a lot of money.
Stripe is also the best online payment processing for web businesses, used by millions of agencies of all sizes from startups to large enterprises.
It is a complete suite of payment products that power payments for e-commerce, subscriptions, SaaS platforms, marketplaces, and the whole thing in between.
Stripe was launched in 2011 having dual-headquartered in San Francisco and Dublin, with 14 international workplaces in London, Paris, Singapore, Tokyo, and more.
It can be considered as the one-stop solution for accepting payment for your online store as it helps 135+ currencies and accepts payment from the majority of debit/credit cards from 140+ countries.
Moreover, you can also accept Bitcoins by using a Stripe payment processor.
All you need to register on Stripe and combine with developer-friendly APIs or choose low-code or pre-built solutions.
Stripe accepts applications all over the world. Even if Stripe is not providing services in your country you can take benefit of their Atlas program that helps you to form a company in the USA that further helps you start accepting payments from clients in 100+ currencies.
The best thing about Stripe is that there are no setup, monthly, or hidden charges. So you will be paying only for what you use, pricing beginning at 2% for cards issued in India and 3% for cards issued outside India.
TransferWise is a London-based company that provides a cheaper and quicker way to transfer money abroad.
It could be another great alternative to PayPal because of its low transaction prices & forex conversion charges.
TransferWise was founded in January 2011 to build a new banking system without limitation.
10 million customers, 14 workplaces around the world, and $6 billion sent every month, all these stats make TransferWise a trusted identify all over the world.
To transfer money abroad, all you need to do is register for free, select an amount to send, add the recipient’s bank details, confirm your identity (in some cases), and pay for your transfer with a bank debit (ACH), or a debit or credit card.
But this is not all. TransferWise also approves you to open a global business account in minutes that lets you send, spend, and receive in over 50 currencies — for way cheaper than PayPal.
So, all the small to medium-sized businesses, freelancers, entrepreneurs, sole traders, or company level businesses out there, TransferWise works like a charm for everyone.
Skrill is an online payment wallet provider that offers a wide range of online payment and money transfer services.
It has been helping millions of clients since 2001 and now increased in more than 120 countries with the digital wallet offered in 40 different currencies.
Whether you want to transfer money to a bank account overseas or want to get paid wherever you are in the world, simply skrill it.
Moreover, you can use Skrill to purchase and sell cryptocurrencies.
Apart from online payments & money transfers, you can also take advantage of Knect, The Skrill loyalty program.
Once you join this program, you will earn some points on nearly all transactions which you can exchange for money rewards, bonuses, and more.
Opening an account on Skrill is absolutely free and there is no monthly charge for personal use as long as you make a transaction at least every 12 months.
Otherwise, you will be charged a fee of EUR 5.00 (or equivalent) every month from your account.
Paying a merchant directly from your Skrill wallet, receiving cash to your Skrill account, and sending cash to a worldwide bank account with Skrill Money Transfer is also free.
Having said that, you will have to pay a fee of 2.50% for any transaction like depositing and withdrawing funds.
2Checkout is an excellent all-in-one monetization platform that allows businesses to rapidly expand globally and maximizes their revenues by simplifying modern commerce.
It was founded in 2006 now acquired by Verifone has 18,000+ active customers, 4 global
Offices, and 400+ employees.
2Checkout or 2CO is considered an excellent alternative to Paypal because it has a lot of high-quality reviews all over the world.
You can get an idea about its popularity from the truth that over 20,000 corporations (from Startups to Fortune 500 companies) in over 180 countries use 2Checkout.
Their Avangate Monetization Platform is sufficient to handle the complexities of digital commerce, globally.
Furthermore, their products, 2Sell, 2Subscribe, 2Monetize, and addons are there that will assist you to receive mobile and online payments from customers worldwide, run a subscription-based business, and develop your business.
Signing up for 2Checkout is free and you will be paying (min 3.5% + $0.35 per successful sale) only when you begin selling.
6. Google Pay
Google Pay is another extremely good online payment system available for anybody to integrate with their websites, e-commerce stores, apps, and more.
Basically, it is a digital payment wallet platform developed by Google to power in-app and tap-to-pay purchases on mobile devices, tablets, or watches.
One can implement Google Pay with any type of website or service with ease and also enjoy ready-made integration for services like Shopify, WooCommerce, Stripe, Square, etc.
You can use bank transfer, credit card, debit card, and UPI as payment methods on Google Pay.
Google Pay is a free mobile app and there is zero charges on the use of debit cards and bank transfers while for credit cards you will have to pay 2.9% of transaction fees.
Withdrawing funds to the linked bank account is free that commonly takes 1-3 days. That being said, the immediate transfer will add the 1.5% fee. However, these fees and charges
are specific to the US and do not apply to the customers in India.
So, if you are searching for a long-term PayPal alternative for your online store, Google pay could be a great choice.
Instamojo is one of the leading payment gateway & eCommerce systems that has everything your enterprise needs from collecting payments to creating free delivery products, online stores, getting loans, and a lot more.
It is a Bengaluru, India based company founded in 2012 and now empowers 1 Million Plus Indian companies from 29 states And 7 union territories.
Instamojo is a PayPal similar company for Indian customers as it allows you to quickly send and receive payment using @username or email address of other Instamojo users.
Furthermore, if you want to set up an online store to promote digital products or services on your site then also Instamojo works genuinely great.
If we discuss the pricing of Instamojo then they have two plans. The first plan is free which is best to start your online store and collect payments. If you opt for this plan you will be charged a 5%+ 3 transaction fee.
The second plan is their premium plan which is a whole online solution for a small business. For this plan, you have to pay INR 799 per month plus a 2%+ 3 transaction fee.
Remitly is an online money transfer services business registered with the US Department of Treasury trusted by hundreds of thousands of NRIs.
They facilitate you sending or transferring money from the United States to 130+ banks (including SBI, HDFC, Citi Bank, Axis Bank, and many more) throughout India.
Remitly is authorized to do business in all 50 states and also partner with the biggest banks in India and the USA.
It was launched in 2011 having headquarters in Seattle, Washington, United States.
Remitly is totally free to join and the thing we preferred the most about them is that they offer extremely good exchange rates.
You can transfer up to $30,000 in a single transfer and there are two ways you can transfer money – Express (within 4 hours) and Economy (3 to 5 business days).
It does not matter which method you pick to send money, there is no fee when sending $1,000 or more ($3.99 when you send less). However, Credit card transfers have an extra 3% fee.
9. Coinbase Commerce
Coinbase Commerce is the world’s main cryptocurrency company that lets you receive payments from everyone in the world and 8000+ merchants already accepting cryptocurrency via this open financial system.
So, if your business permits you to accept Cryptocurrencies like Bitcoin, Ethereum, Litecoin, USD coin then you should genuinely use Coinbase Commerce.
Furthermore, it eases you to sell your crypto for cash or USD Coin.
Getting began with Coinbase Commerce is free and one can go live in minutes, not days. Their team will assist you with hosted checkout pages, payment buttons, invoicing, and a couple of ecommerce integrations including WooCommerce and Shopify.
The excellent thing about using Coinbase Commerce is that there are no fees to accept crypto.
Withdrawing your money to your local bank account takes up to 1-3 days.
Though this service requires a little technical knowledge, everybody can learn easily.
So, if your clients are additionally comfortable paying in cryptocurrencies you must checkout Coinbase Commerce as a crypto PayPal alternative.
This is our well-researched list of top PayPal alternatives for 2021 and we hope you will get an appropriate PayPal alternative from this list.
Well, all of the PayPal alternatives we listed above are reputed companies that provide reliable online payment services.
So, all the freelancers, bloggers, small business owners, and large scale corporations you can pick out any of them based on your necessities without thinking twice.
And please don’t forget to share this put up as this would possibly be beneficial for others too.