PayPal Alternatives

July 07, 2024 96
PayPal Alternatives

As the world keeps getting more digitized, there’s a higher need for financial services that help with international transactions. Sure, Paypal is as good an option as any other. Businesses and customers all over the globe use PayPal on a daily basis to send and receive payments. But the market has a lot more players which have tailored their offerings to the various kinds of businesses out there. Based on the kind of business you have and the frequency of transactions, you might find some of these other options better suited for you and your business.

So let us share some Paypal alternatives to help you streamline your payment processes and carry out international transactions on different scales.

PayPal competitors



List of 8 Best PayPal Alternatives

  1. Payoneer
  2. TransferWise
  3. OFX
  4. Stripe
  5. Skrill
  6. Google Pay
  7. Payline
  8. 2 Checkout



An inclusive platform that caters to SMEs, Freelance Marketplaces and Large Enterprises alike. Payoneer is one of the best and most innovative alternatives to Paypal for multiple reasons. Firstly, their transactions just take around 2 hours to be transferred as opposed to Paypal which takes 2-3 days on an average. Secondly, their fee is a flat $3 for transactions, which might be complicated in case of Paypal. That’s because Paypal often has many variables involved with regards to their charges. Thirdly, there are over 200 countries in which Payoneer operates across over 150 currencies.

So Payoneer is definitely one of the best alternatives to Paypal, especially for businesses that have over $20,000 of transactions to carry out on a monthly basis.

See also: Comprehensive Review of Payoneer



Totally an option worth considering if you find Paypal expensive. TransferWise is especially great for smaller transactions, with their fixed transfer fee usually being around 0.4% of the transaction plus $0.56 as a fixed amount. Moreover, the emphasis of TransferWise lies on transparency, which is why they have a fee calculator of their own which clearly indicates the amount you would have to pay. While their maximum transaction limit goes as high as $1 million through a wire transfer, it only applies to sending money from other countries to the US. The limitations would vary depending on the currency and the countries between which the transaction takes place.

3. OFX


If your business makes larger transactions, OFX is a genuine contender for a great alternative to Paypal. While their transaction fee would depend on the countries between which they are taking place and the currency, their standard charges are $15 for international transfers below $10,000. Sure, that does seem really high. But get this, transferring an amount that exceeds $10,000 is absolutely free! Their minimum transfer amount is $200 per transaction and $1000 per year. This is definitely not a problem for enterprises but for personal transactions, it could be challenging. However, OFX has no limit on the maximum amount of money you can transfer. On an average, their transfer only takes 1 or 2 days. Above that, OFX has 55 currencies available to choose from.




Another competitor to Paypal which can also be a good alternative. In terms of the fees, Stripe is not too different from Paypal, as their transaction fee is 2.9% of the value with an additional $0.30. An encouraging fact is that Stripe accepts over 135 types of currencies even though they are only operational in 26 countries. While their global reach is not as much as Paypal in terms of the countries they’re available in, the supported currencies balance that out. However, Stripe does take up to 7 days for the transaction to be completed, unless you’re in the US where it takes 7 days for the first ever transaction, then 2 business days after that. Stripe is definitely suited to various enterprises, as the transaction limitations start at a minimum of $0.50 & a maximum of $999,999.99.

See alsoPayPal vs Stripe



The way Skrill operates certainly is interesting. They charge up to 2% for domestic transfers, but interestingly enough, transferring money to a bank account outside the country is free of cost. Skrill also enables a single business account to manage above 40 currencies. When it comes to currency conversion related transactions, they add 3.99% to the wholesale exchange rate. Skrill is no doubt one of the cheapest options out there. In terms of the duration of the transfer, Skrill takes between 2 to 5 working days for bank account transfers. Best part is that Skrill operates in 201 countries, but the only downside is the limited number of currencies that are available. Their transaction limit is also not the best with maximum monthly transactions going only up to $4,500 & $10,000 by instant bank transfer and credit card respectively. In any case, Skrill is definitely a good and much cheaper alternative to Paypal.

See alsoPayPal vs Skrill


Google Pay

A platform which has been growing in popularity and definitely deserves a place on the list. What were once Google Wallet and Android Pay have today become Google Pay. One of the main advantages of Google Pay is that they have no charges for transactions carried out through bank transfers or debit cards. This applies for both businesses and customers. For transactions carried out through Credit Cards, there’s a fee of 2.9% of the transaction. Which is not too bad either. With bank account transfers, it could take up to 3 day for the transaction to go through, but transferring money to a debit card happens right at that instant. Google Pay limits a single transaction’s maximum amount at $9,999. While the platform is popular for online shopping, it is a great option for personal transactions.

See alsoPayPal vs Google Pay



Depending on which country you reside in, Payline could be an option you could consider. They operate in over 26 countries, which compared to most platforms on this list is not much. However, they support over 100 currencies, which kind of makes up for their not so wide reach. When it comes to international funds transfer, the charges of Payline are $10 per transaction. And that’s a flat rate that they charge. If you hold a Payline Merchant Account, they have a fee of $20 per month for online transactions. Apart from this, there’s also a fee of $0.20 per transaction with an additional Interchange + 0.3%. Payline offers various plans and services which could suit you depending on the needs and nature of your business.




2Checkout is a globally recognized payment platform that deserves a place on this list. With affordable payment pricing, this is definitely one of the platforms you will want to check out. The incredible fact about 2Checkout is that it accepts multiple currencies and payment types.

Above are some of the alternatives to PayPal you can consider for payment integration on your business site. You can even use some of these for sending and receiving of personal payments.
Do you know of other platforms that should have been on this list? Please let us know in the comments section below.

See also: How to Reduce PayPal Fees?