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Paypal is the most popular service for sending and receiving payments globally. It allows you to get money from any country and in any currency format easily in no time. I have been using Paypal personally for paying to different services and receiving payments for over 7 years.
But Paypal is not the same in all countries. Payment regulators of countries impose a restriction on this service. So, the way it operates is not the same globally. For example, Indian people cannot hold the balance in Paypal for more than 24 hours and they cannot send or receive money from another Indian PayPal user. Other countries may have other kinds of restriction.
Paypal also has transaction fee and many times it puts your transactions on hold without any proper reason. Some countries never allowed Paypal to operate. So, you cannot fully become dependent on Paypal and you must know some good Paypal alternatives to send or receive payments globally.
Best Paypal Alternatives
In this article, I am listing best payment services to make or receive online Payments. These payments services can also be seen as best Paypal alternatives.
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1. Payoneer
Payoneer is also a popular global payment service providers. They are also available in over 200 countries offering money transfer services. They have a low transactions fee, so you will end up saving few extra bucks. They support transactions in more than 100 currencies
Creating an account on Payoneer is free and they also give a bonus of $50 when you complete transaction of $100 using Payoneer.
2. Skrill
Skrill is also a good Paypal alternative payment service. It was formerly known as Moneybookers. It is used to send or receive payments and shot online. You just need an email address to send the money and it will credit to the account.
It is also widely used and is being operated in over 200 countries and supports over 40 currencies. It also offers a Prepaid MasterCard that you can use to shop in offline stores. It takes just 1% of the transaction as its fee that makes it cheaper than Paypal.
3. PayZa
PayZa is also a good money transfer services. They are being supported by many other ad networks for payment purpose. Now they have also added Bitcoin services. So, you can use it to buy and sell Bitcoins.
They operate in over 200 countries. The account is free to setup with no charge. Sending money to your friends on Payza is free. They have both personal and business accounts option. They also offer prepaid card (Mastercard) that you can use as a credit card to shop online or offline.
4. Stripe
Stripe is another quick way of sending and receiving money online. The service is easy to setup and use. It accepts payment from all major debit/credit cards from 135+ countries, They charge 2.9%+$0.30 as a transaction fee. With integrated payment setup, you can also use it as payment gateway on websites. They even offer plugins for easy setup.
5. TransferWise
TransferWise is a less known but good payments company. The company was started by people behind Skype and it was backed by Richard Branson. It also has low transaction free and low currency conversion charges. It is available in several countries and supports most of the popular currencies. The best thing about this service is that it sends money with real exchange rate. It is up to 8 times cheaper than any other money transfer service. Several companies use Transferwise for wire transfer payments.
6. Selz
Selz is also a good alternative to Paypal for merchants and small business. It is a good way to accept payments from customers. It also allows you to crate online store and start receiving payments directly. Freelancers and bloggers can also use it if they sell something on their website. It imposes high commission and charges 5%+$0.25. It is available in over 190 countries and suits digital download.
7. 2Checkout
2Checkout is a good payments company but is not a complete Paypal alternative. It is not for individual users but for businesses who want to receive payments online. It supports eight payment methods, including Visa, MasterCard, JCB, PIN Debit cards, and PayPal.
It has high transaction charge if you are not from US. Use it only if you have a high amount of money involved in the transaction.
Final Words
There are lots of online payments companies around the globe. Few operate in selected countries while few operates in most of the possible countries. Paypal is the most popular but should also not miss other. Few of Paypal alternatives have low transaction fees. So, you can save a good amount of money. Check this list of best Paypal alternatives, compare their prices and see what is working in your country. Based on all these things, you need to decide what should you select for sending and receiving your payments.
Now you have the list of best Paypal alternatives. If you know any good payment service that should be in this list, you can let us know using the comments section below. Let us know what payment service do you use. If you have anything to say or ask, you can always leave a comment.
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