PayPal is the most popular online transaction website, but entrepreneurs are sometimes reluctant to use PayPal for various reasons – from high fees to its lack of consistency in customer service. (I’ve personally not had any issues with PayPal, but I’ve heard some horror stories!)
Luckily, there is a lot of competition and many options out there as alternatives to using Pay Pal for invoicing or other payments. Do your research and see what fits YOUR business best, but here’s a good starting point. (in no particular order)
The top 7 alternatives to PayPal:
FreshBooks is an online invoicing, time tracking and expense management service that helps people save time, get paid faster, look professional and focus on what they love to do – their work. I’ve been using it for a while now and LOVE it!
Clients can pay with PayPal or with a credit card. FreshBooks Payments is powered by WePay, who handles all the processing in the backend. But FreshBooks is more than just a way to get paid, it can also serve as your accounting software. FreshBooks is simple and intuitive, so accounting isn't intimidating.
Google Wallet (once was Google Checkout) has safe, simple and rapid transfers to and from your bank account. Google Wallet is fantastic and has similar features to PayPal, such as the ability to send invoices and credit card processing.
With incredible account fraud protection and customer service, WePay stands out as an alternative. Consumers can make purchases without leaving your site via a virtual payment terminal. This makes your site look more professional and makes consumers feel more comfortable when checking out.
Authorize.Net has been around since 1996 and is one of the most widely used payment sites. With more than 400,000 merchants, Authorize.Net has been the recipient of the Achievement in Customer Excellence (ACE) award for 5 years in a row.
ProPay has similar features to Paypal which includes the ability to receive and send money anywhere in the world, and even a built-in shopping cart and recurring billing. One big advantage that ProPay has over the others is that it’s also accepted by eBay. Along with Propay is ProPay JAK which is a mobile phone credit card reader, much like Paypal Here, that can process credit and debit cards in real-time on your iOS or Android phones, allowing you to do financial transactions in person instead of having to login into a website.
Just like Paypal, Dwolla allows you to do anything from accepting payments to paying your friends. What’s really unique about Dwolla is that if both payment parties have a Dwolla account, then money can be spent easily through their names, Facebook, Twitter, or LinkedIn profiles, their telephone number, or their email addresses.
Stripe is a quickly growing start-up that removes the need for a merchant account or gateway, and allows for everything from direct withdrawals to your bank accounts, to storing credit cards. One of the best features of Stripe is one that web developers will love – is the ability to integrate a payment system into a project by using Stripe’s API function.
What is your favorite online way to pay and accept payments? Leave a comment below!