One of the challenges many SME’s and individuals are facing when it comes to receiving goods sold and services. It has made to decide not to sell goods beyond the shored of their country, many have also rejected freelancing gigs due to this same problem.
Selecting the right payment processor is not as easy as it looks. Selecting a bad one can lead to visitors never returning to your site again or money might even get hanged.
PayPal is one of the most popular payment processing platforms, fast and easy to use. PayPal also has its flaws and that is why we have decided to come up with PayPal alternatives. Before anything else let’s know:
How PayPal Works
Paypal is one of the first innovative solutions to enter the online payment processing world, and it has been making waves without wavering from its main objective. There was a time that the primary means of purchasing goods and services are debit and credit cards. PayPal broke that barrier.
With PayPal, you can buy products without making use of a debit card and buyers don’t have to make use of cards before making payment.
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With a PayPal account, buyers can:
- Shop confidently online without having to worry about bank or credit card not working.
- By making use of PayPal you don’t have to worry about how encrypted your transaction is.
- You can easily make a purchase on different e-commerce stores with one PayPal account.
Another benefit that a buyer can take advantage of is the buyer’s protection. This allows one to charge back funds in cases where the seller fails to meet up with the order or condition.
PayPal is regarded as the 3rd most preferred online payment option after Visa and MasterCard. With this merchants can also take advantage of this since they can now start accepting payments on sites by linking a bank account to previous PayPal login.
With PayPal, merchants can send and monitor invoices to Customers by putting all the financial data in a place.
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List of Best PayPal Alternatives with Buyer Protection
Google Pay
Google does not only allow you to pay on the official website, but you can also pay with the app. With Google pay small business owners can allow customers to pay and shop on a variety of devices, which solves the problem of a forgotten password and missed conversions. Other benefits that Google play have over PayPal is that you can deliver custom mobile offers and recommendations to your customers, share gift card and loyalty, which reduce the need for ticketing.
It can be used on Android and iOS.
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WePay
WeOpay is another payment platform that allows integrated payments. It is built in a way that allows instant onboarding and processing. It can be used for POS and omnichannel software platforms. With a one-time integration, businesses can carry out transactions and payout.
Skrill
Skrill allows you to send and receive money, link bank accounts, store cards, make payments with just your email address and password. It does not matter whether you are using Skrill for personal use or business, you’ll be given access to global support in over 30 countries.
For personal accounts, it is free to open but not the case for a business account. Useable on iOS and Android.
Payoneer
Payoneer is not meant for businesses alone, it can be used by freelancer or professional that wants to receive money from clients. With Payoneer, you don’t have to worry about how secure your transaction is.
Asides from being secure Payoneer ensures that you receive payments from an international client at a low cost. This is a company that specializes in online advertising and e-commerce. With Payoneer, you can withdraw funds from the Local bank close to you or Automated Machine.
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TransferWise
Transferwise regards itself as a cheaper way to send money internationally. It also claims to have the fairest exchange rate and no hidden fees.
If you as an individual or have a business that conducts a high volume of transactions daily internationally. Transferwise is what you should consider. Transferwise app can be used on Android and iOS.
WorldRemit
Furthermore, WorldRemit is another payment transfer platform where users are charge base on the amount of money they are sending. The downside of this platform is that there are limitations to the number of countries that money can be sent to and where money can be received.
So I hope you like our work if you did please share the article with your friends. If you know a better option let us know by the comment section below. Have a great day and Keep Visiting at We Observed.
