PayPal has been around since way back in 1998, which was basically the early days of the internet. This online payment service provides safe and secure payments for online shoppers and business owners alike and has grown to become a household name. Over the decades that it’s been operational, PayPal has garnered around 244 million accounts!
With PayPal being the industry giant that it is, is there any other online payment solutions worth using instead
What can I use instead of PayPal?
There are many reasons why you may want to make use of an alternative payment solution. As great as PayPal is, its fee structure is not the most affordable in the business, and there have also been minor issues when it comes to exchanging rates and high volumes of payments. Luckily there are numerous other online payment solutions available, one of which could offer the ideal solution to your payment needs.
Transferwise is one of the best alternatives to PayPal in the UK and has become a tried, tested and trusted name. Transferwise is a great choice when dealing with high numbers of international payments and is one of the cheapest ways to handle sending and receiving funds internationally. It offers more than 40 currencies, allowing you to invoice your customers in their own currency. Other than that, the fees are very affordable, and payments are quick and easy.
Transferwise is best suited to service-based businesses and individuals.
Skrill is another very well-known payment method and has risen in popularity due to its currency conversions. It offers Mastercard prepaid payments, which can be used in numerous shops, both online and brick-and-mortar. Skrill is at the top of their game when it comes to technology and offers a payment solution that is packed with anti-fraud protection.
They also have a great app, which allows you to make all of your payments from your mobile phone’s comfort. It’s free to open a Skrill account, and this convenient option offers a range of benefits to the online shopper and service provider alike.
Dwolla works off of the basic principle that moving money, even between countries, should be fast, simple and affordable. Dwolla has quickly risen up the ranks and has become a popular and well-respected payment solution in the UK, handling millions of pounds each day. Dwolla is smart enough to focus on the end-user experience and ensures that their system is easy to use. With low transaction costs and sophisticated security systems, Dwolla is definitely a smart choice.
Bluesnap essentially offers a variety of different payment methods, making it a very useful all-in-one solution that offers a way to increase your sales revenue. This fully integrated payment offering is great for sites that want to offer a variety of safe, secure payment options. The use of intelligent technology ensures that everything runs without a hitch. The impressively low fees associated with Bluesnap is definitely the cherry on top.
Over recent years Google has really put in the effort to expand their comprehensive services, and their Google Pay service is actually very impressive. It provides a convenient and secure online payment solution for your online store that is going to be around for the long haul. The Google Pay app offers many location-based added benefits to consumers, making them more likely to use this payment method. With a name like Google behind this solution, Google Pay is bound to increase in popularity. Google pay can be linked to your debit or credit card in the UK.
ProPay provides the secure handling of international payments. One of the stand-out features of ProPay is that it offers a convenient solution to home-based businesses and multi-million dollar companies alike, making it a great solution if you’re expecting your enterprise to grow. The solution is flexible and will grow with your business and your payment needs. There are also accounting features available to help you keep track of all your online payments. Fees are relatively low at around 2.69% of each transaction.
Payoneer offers an innovative payment solution for all industries. Payoneer’s emphasis on diversity is really highlighted by the fact that their services are available in over 200 countries, with over 4 million users worldwide. While the user amount may be very low compared to PayPal, Payoneer has experienced incredible growth over the past few years and is expected to succeed in the world of international fund transfers. Their risk management solutions are all in order, and currency conversion charges are as low as between 1% and 4%.
If you haven’t tapped into cryptocurrency yet, it is time to do so. There are thousands of potential customers who want to purchase products and services with their crypto coins. Coinbase merchants offer a great solution for shoppers who wish to make purchases with coins like Bitcoin and Ethereum. It is safe and secure and can be easily integrated onto sites such as Shopify and Opencart. This globally accepted solution is definitely going to be one of the most popular solutions in the future. While there are many crypto-friendly payment solutions out there, Coinbase Merchants are undoubtedly the leaders.
Payline is known for being flexible, fast, and user-friendly. Payline offers you a completely customised plan in which you can choose how many payment channels you want to offer and what types of payment you want to include. This is how Payline is able to grow with your company.
There are no upfront fees or cancellation fees, with transaction fees being incredibly low.
Is PayPal on its way out?
PayPal has stood the test of time, and although it has seen many competitors, PayPal is an ingrained payment option on millions of websites worldwide and won’t be going anywhere any time soon. When deciding which payment options to include on your website, do some research into what would work best for you as well as what payment solutions your target market is most comfortable with.