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Top 10 PayPal alternatives

Top 10 PayPal alternatives
Business Development Specialist
Yuliia Mamonova

PayPal consolidated its position as one of the most influential FinTech companies worldwide. Just like Coca Cola or Nike, it gained credibility and trust among users. But is the most advertised item always the best? Not necessarily. And the number of users that support PayPal alternatives prove this point. Why do they do it? Let’s dive into that issue!

Disadvantages of PayPal

Despite brand recognition and easy setup, PayPal has a list of disadvantages that shouldn’t be ignored by merchants. Fees structure might be to blame. Though PayPal claims to help the small sellers, it is not quite true. A starting fee of 2.9% plus $0.30 per transaction is a big burden for small merchants on eBay.

PayPal is also vulnerable to fraud. If you happened to be a victim of criminal activity, your account might be easily suspended and frozen due to the company’s strict policy.

Back in 2018, PayPal revealed that it shares user’s data with more than 600 external companies. From Facebook to Google, the PSP has published the list of third parties it shares data with. They claim it to be a part of a transparency drive.

Another disadvantage of PayPal is that the funds are usually refunded to the customer when the item has been shipped. Although PSP offers a protection policy that guarantees you will get a product in the condition it was described, this does not apply to digital items.

Once again, is the most advertised item always the best?

Top 10 PayPal alternatives in 2019

1. Square 

Fees  2.9%+$.30
Security  PCI DSS certificate, fraud and chargeback prevention
Number of countries  US, Canada, Japan, Australia, and the United Kingdom
Number of currencies  All currencies from accepted countries + bitcoin
Integration types  API, CMS, SDKs
Customer Support  Phone support, knowledge base, email
Mobile payments  Yes
Acceptance of high-risk businesses  Restricted
Chargeback fee  $10 – $25
Recurring billing  Yes

 2. Braintree

Fees  1.9%+$0.28
Security  PCI DSS level 1 compliance. Data security and encryption
Number of countries  44
Number of currencies  140+ currencies + bitcoin
Integration types  API, HPP, CMS
Customer Support  Phone and email support
Mobile payments  Yes
Acceptance of high-risk businesses  High
Chargeback fee  $26
Recurring billing  Yes

 3. PayZa

Fees 2.9 % + $0.28
Security  FraudMatrix
Number of countries  190
Number of currencies  25
Integration types  HPP
Customer Support  Email support
Mobile payments  Yes
Acceptance of high-risk businesses  High
Chargeback fee Variable
Recurring billing Yes

 4. ApplePay

Fees  2.9% + $0.3
Security  PCI DSS compliance. Data security and encryption
Number of countries  24
Number of currencies  All the local currencies of supported countries
Integration types  NFC
Customer Support  24/7 support. Live chat, phone, email support
Mobile payments  Yes
Acceptance of high-risk businesses  High
Chargeback fee  The fee of 10%
Recurring billing  Yes

 5. Ikajo International

Fees  1.2%
Security  PCI DSS level 1 compliance. Chargeback and fraud prevention software. Data security and encryption
Number of countries  150+
Number of currencies  200+
Integration types  API, HPP, CMS, Virtual Terminal
Customer Support  Live chat, knowledge base, email support
Mobile payments  Yes
Acceptance of high-risk businesses  High
Chargeback fee  $20
Recurring billing  Yes. Free option

 6. PaySpacelv

Fees  1.2% + $0.30
Security  PCI DSS level 1 compliance. Chargeback and fraud prevention software. Data security and encryption
Number of countries  130+
Number of currencies  200+ bitcoin
Integration types  API, HPP, CMS, Virtual Terminal
Customer Support  24/7 support. Live chat, knowledge base, email support
Mobile payments  Yes
Acceptance of high-risk businesses  High
Chargeback fee  The fee of 10%
Recurring billing  Yes

 7. Amazon Pay

Fees  2.9% + $0.30 
Security  PCI DSS compliance. Data security and encryption
Number of countries  60+
Number of currencies  All the local currencies of supported countries
Integration types  Integration with any shopping platform
Customer Support  Phone support, email, tickets, live chat
Mobile payments  Yes
Acceptance of high-risk businesses   Low
Chargeback fee  $20 + tax
Recurring billing  Yes

 8. BlueSnap

Fees  From 1.40% + 0.28 to 3.30% + $0.28
Security  PCI DSS level 1 compliance. Data security and encryption.
Number of countries  180+
Number of currencies  13
Integration types  API, Hosted Payment Page, CMS plugins, virtual Terminal, invoice
Customer Support  Phone support, email, tickets, live chat
Mobile payments  Yes
Acceptance of high-risk businesses  Low
Chargeback fee  Variable
Recurring billing  Yes

 9. WePay

Fees   2.9% + $0.30
Security   PCI DSS compliance. Data security and encryption
Number of countries   US, UK, Canada
Number of currencies   USD
Integration types   API
Customer Support   Email support, tickets, live chat
Mobile payments   Yes
Acceptance of high-risk businesses   Restricted
Chargeback fee   $15-$25
Recurring billing  Yes

 10. Stripe

Fees   2.9% + $0.30
Security  PCI DSS level 1 compliance. Data security and encryption. Secure Dashboard access
Number of countries  32
Number of currencies  135+
Integration types  API, HPP, CMS
Customer Support  24/7 support. Email support, live chat
Mobile payments  Yes
Acceptance of high-risk businesses  Restricted
Chargeback fee  $15
Recurring billing Yes

Over to you

There are many other payment gateway providers suitable for various businesses. Each case is unique. And if you have questions about payment processing for your particular business, don’t hesitate to contact us for free expert consultation. We’re here to help find you the best-fitting payment processing solutions possible.

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