PayPal is a popular app/website through which users can send or receive money online. Unlike IMPS, RTGS or NEFT services that charge hefty fees for depositing money into your account, PayPal charges a trifling fee for transferring your money to the bank account.
Various eCommerce firms accept payment made with PayPal. Hence, if you’re in one country, you can buy a product listed on an eCommerce portal that operates in other country and ships products worldwide by making payment with PayPal.
PayPal is a cheap money transfer service. It is popular among bloggers, internet marketers, freelancers, small business, etc.
Creating an account with PayPal is easy and free. Once your account is ready, you must verify your bank account with PayPal.
To receive money, the receiver must their PayPal email id with the sender. Likewise, to send money, the sender must know the receiver’s PayPal ID.
Well, PayPal isn’t the online payment service. There are some apps that are as good as PayPal.
Best PayPal alternatives 2017
Although it is a new app, Google Wallet has emerged as a great PayPal alternative because it is a user-friendly and secure product of Google. Google Wallet is a digital wallet app which you can use to save your loyalty, debit or credit cards securely. It allows you to send or receive funds quickly.
Google Wallet is linked to other Google services. If you have a Google account, you don’t have to waste time in creating GW account.
Google Wallet lets you request money from other users. Once the person sends money to your account, GW will transfer it to your bank account automatically. You can send or receive up to $10000 on a given day. Like other mobile payment services, Google Wallet charges a small fee on transactions.
As of today, GW service is available only in the US. In the coming months, Google may launch its wallet app in the European and Asian countries.
Skrill is a digital payment platform with low transaction fees. It enables you to transfer money to other Skrill user’s account regardless of his/her geographic location.
The Skrill money transfer service is available for users in 200+ countries. Hence, if PayPal doesn’t support your country, you can use Skrill for sending and receiving funds.
The Skrill app lets you manage your debit and credit cards from one place. If you don’t have a card, you can apply for the Skrill MasterCard. You can use the Skrill MasterCard as a regular debit card.
Creating an account with Skrill is free. Users must verify their accounts before they receive or send money online.
Skrill is a secure platform. Apart from the login password, Skrill app asks users to enter a 5 digit pin code for accessing their dashboard. Furthermore, the app saves your data in an encrypted DB.
Payoneer is one of the best PayPal alternatives right now. Like PayPal, you don’t have to pay a fee for creating a Payoneer account.
Payoneer charges $3 for transactions. To use it, you’ll have to verify your identity and bank account. Unlike PayPal, that allows you to receive money by simply providing your email ID for receiving payment, this web app provides a bank account number and bank name. To receive payment, you must share these two detail with the merchant or money sender.
If you want to use Payoneer for online shopping, you can request a Prepaid Mastercard from Payoneer. You can also withdraw money from a local ATM with the Mastercard.
Payoneer is a reliable app like PayPal.
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PayZa charges up to 2.99% for every personal or business transaction. It can send funds to users in 190+ countries. The transaction fee is different for each country.
Payza supports 20+ currencies and it lets you send money via emails. The PayPal alternative enables you to add money to your wallet and it allows you to make fund transfer requests for free.
If you’re working in a foreign country, you can send money to the family residing in your home country with the affordable PayZa SimplySendBDTM service.
PayZa gives users access to special service called Resolution Center through which customers can get solution to the problem they’re facing while sending funds.
The eCommerce giant had launched Amazon Pay platform for merchants and consumers in 2007. The service was first introduced in the US. Now, it is available in several other countries.
Amazon Pay is integrated with Amazon.com. It also allows you to check out on leading portals like Lenovo, HomeSquare, Vizio, MovieTickets, etc.
Amazon Pay is a free service. If you’ve bought a product from Amazon.com, you don’t have to signup for Amazon Pay. All you have to do is load your wallet with an amount.
Amazon is serious about its digital payment service. Unlike many top internet giants that kill a product if it doesn’t take off, Amazon kept improving its payment platform. Today, millions of people use this service to make online transactions.
Amazon Pay charges 2.9% for every online transaction.
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Square is a great PayPal alternative for small businesses. It is also a superb payment platform for customers. Square allows business owners to create attractive email marketing campaigns. If you own a website, you can integrate Square with your site with a few clicks. Square supports integration with leading third-party business apps.
Square has kept the transaction fee to 2.75%. The fee is same for all cards. Square allows customers to transfer money in their wallet to bank accounts instantly.
When you create your free account with Square, a card reader will be shipped to your address within a week. The card reader supports Android and IOS devices. It makes online or offline payments faster.
Square has launched separate apps for businesses and consumers. Business should download the Square Pont of Sales app. Costumers who want to send/receive money must use the Square Cash application.
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Payoneer, Google Wallet, Amazon Pay, Payza, and Square are the best apps like PayPal. They’re secure and widely used.