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10 Best Alternatives To PayPal For Online Payment That Will Make Your Life Easier

10 Best Alternatives To PayPal For Online Payment That Will Make Your Life Easier

PayPal has become somewhat of a standard when it comes to online payments and is very widespread. It’s not that it is the cheapest or even the best online payment option out there, it’s that people have gotten used to it and aren’t really aware of the alternatives. You might be wondering why you shouldn’t just stick with what you know and go for PayPal, after all it’s what nearly everyone uses. The main reasons for looking at alternatives would be competitive pricing and ease of use, although numerous reports have also been made against PayPal’s questionable business practices.

Another point against it is that not everyone from around the world can use it, which cuts you off from several different markets, but some of the other payment systems share this problem, although they run a much tighter ship. Running a successful eCommerce website with plenty of traffic will require a good amount of resources and hard work, so you want to make sure that the customer satisfaction is high and that all transactions go as smoothly as possible. At the same time, you may need an effective way to send and receive money internationally. To accomplish these things, you may want to check these alternative of online payment methods that have proven to be consistent with the quality of their service.

1. Skrill

Skrill

    Formerly known as Moneybookers, Skrill provides you with an online account that is fairly quick to set up and easy to use. You can send money to other users and receive payments, buy items online and they send you a prepaid debit card which you can use for payments stores or ATM withdrawals.

    The good

    • It’s fast and easy to set up an account
    • You can use it anywhere in the world
    • Works with a number of major currencies
    • Has a reasonable flat fee for transfers (1% and limited to 10 euros max)
    • It’s fairly secure

    The bad

    • Stringent fraud prevention policies can cause problems like freezing accounts
    • Poor customer service which makes it difficult to resolve problems quickly

    As long as you aren’t one of the few unlucky people who experience a problem and have to deal with their lacklustre customer service, Skrill is a great online and offline payment method.

    2. Payoneer

    Payoneer

      Much like Skrill, Payoneer provides you with an online account and a PrepaidMaster card with a fixed activation fee. You can load money onto your account, receive and send payments as well as shop online and in any store that accepts major credit cards and withdraw cash form ATM’s.

      The good

      • Quick and easy account set up
      • Seamless and straightforward transactions
      • Can be used around the globe
      • Is supported by major freelance platforms like oDesk

      The bad

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      • High fixed account maintenance and ATM withdrawal rates
      • Fees involved in bank account transfers unlike similar services where this is free
      • Hit and miss customer service

      Overall it is a fairly reliable payment system that can be used in any country in the world, but you will need to come to terms with relatively steep rates when compared with similar options.

      3. Dwolla

      Dwolla

        Dwolla is a very secure, quick and cheap way to make or receive payments online directly through your checking account. With free transactions bellow $10 and only 25 cents for any amount above it is definitely one of the most cost-effective platforms, although it does require both parties to have a Dwolla account.

        The good

        • Very low transaction fee of $0.25
        • Allows sender to assume transaction fee
        • Easy to use
        • Instant cash transfer

        The bad

        • Both parties need to have a Dwolla account to make payments
        • The service is only available in the US

        If you live in the US this is definitely one of the cheapest and fastest ways to send money, as long as you can convince others to sign up for an account.

        4. Google Wallet

        Google Wallet

          As far as storing all your debit and credit cards for quick and easy use goes, Google Wallet has proven to be a great option for many people. It is essentially an online wallet that contains your different cards, and it also has a card that you can use for in-store purchases.

          The good

          • Very safe and secure
          • Make payments from your smartphone
          • Easy to receive and send money

          The bad

          • Only available in the US
          • Sending money and topping off your balance from your credit card carries a 2.9% fee

          It is a very good payment solution, but it is limited to the US market.

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          5. Amazon Payments

          Amazon Payments

            With a good amount of functionality and a very simple checkout process, Amazon Payments is high up there as far as online payment solutions go. You don’t have to worry about fees up to a certain point and the transactions are fairly quick.

            The good

            • Send and receive up to $1000 monthly without any fees
            • Very reasonable transaction fees 2.9% +$0.30
            • Decent security and protection

            The bad

            • You need a US social security number to use the service

            Amazon Payments is a good and user-friendly service, but unfortunately limited to US users.

            6. Braintree

            Braintree

              Primarily geared towards online store owners and merchants, Braintree is a merchant account provider with a flat transaction fee and some useful options for improved customer satisfaction, e.g. multiple languages. You can integrate it into your website with a bit of programming skill and gain access to a fast and effective checkout option. It was purchased by PayPall and is available in most countries around the globe, supporting a great number of currencies.

              The good

              • Straightforward and reasonable pricing
              • Good customer support
              • A big list of useful features

              The bad

              • Requires merchant account
              • It takes some programming skill to implement

              Braintree is a very good choice for eCommerce websites if you are willing to put in a little work.

              7. Clickbank

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              Clickbank

                Clickbank allows an easy setup and fast transactions when it comes to selling digital content online. You get a good marketing platform with access to affiliates, so you can sell your digital content with ease.

                The good

                • Great for artists with talent, but no real online business skills
                • Reasonable flat start-up fee and 7% fee on all your sales
                • They take care of everything for you, allowing you to focus on your work

                The bad

                • It’s only really good for people looking to sell digital content online

                This is a good deal if you’re looking to sell digital content without too much hassle, but not a very versatile service otherwise.

                8. Selz

                Selz store

                  This is another quick and easy way of selling products online, especially for blogs and websites that don’t need to sell all that many items. Selz can be installed in a matter of minutes and is incredibly user friendly, allowing Visa and Master Card payments.

                  The good

                  • Users don’t leave the products page when buying
                  • Fast automated digital content delivery
                  • Easy to install “buy now” button
                  • Decent flat transaction fees of 5% +$0.25
                  • Users can sell from blog or social media pages

                  The bad

                  • Not really suited for a robust eCommerce website
                  • Limited payment options
                  • Limited shipping options for non-digital content

                  It is very simple and quick, but it is only really suitable for fairly small businesses, bloggers and artists looking for an easy solution to sell their work from their website or social media platform.

                  9. Stripe

                  Stripe

                    With Stripe you can accept payments from customers through use of a buy button that allows the transaction to happen on the same page, much like with Selz. There is a flat transaction rate of 2.9% + 30 cents and it is integrated with the most popular shopping cart options.

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                    The good

                    • Automatically deposits to an outside bank
                    • Accept payments from all over the world
                    • Mobile payments

                    The bad

                    • Will have to wait for a week after a transaction to collect your funds
                    • Requires some programming skills
                    • Only available for merchants in US, Canada, UK, Australia and Ireland

                    This is a good choice and well-priced option for those based in a few selected countries, with a bit of programing skills or a WordPress website where available plugins make integration a bit easier.

                    10. Payza

                    Payza

                      Online purchases, sending and receiving cash and sending out invoices are a breeze with Payza, formerly known as AlertPay. The service is geared towards both private users and companies, and has shopping carts and buy buttons that can be integrated with a website.

                      The good

                      • Receive money from around the world in a variety of currencies
                      • Offers shopping cart integration
                      • Good security
                      • Reasonable fees that wary from country to country
                      • Online and offline purchases with prepaid credit card

                      The bad

                      • A lot of people experience processing and verification issues
                      • Not the best customer support service

                      Payza is a decent option overall, with some good functionality, but there are still some problems here and there, and their support isn’t all that great.

                      All in all, there are quite a few good online payment options that give PayPal a run for its money. Whether you are a freelancer looking to receive payments, a blogger looking to monetize their blog or an online store owner who want to give visitors a good PayPal alternative, you will find these to be some great options.

                      More by this author

                      Ivan Dimitrijevic

                      Ivan is the CEO and founder of a digital marketing company. He has years of experiences in team management, entrepreneurship and productivity.

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                      Last Updated on July 10, 2020

                      The Definitive Guide to Get out of Debt Fast (and Forever)

                      The Definitive Guide to Get out of Debt Fast (and Forever)

                      Debt can feel crushing, like a weight that is always weighing you down. Looking at those numbers, it can feel as if you’ll never get out from under it. However, if you really want to learn how to get out of debt, it is possible with a great deal of focus and self-control.

                      Getting out of debt isn’t impossible. Like any big goal, all that it takes is an action plan to identify where you are and creating a plan to zero out your debt.

                      Identifying All of Your Debts

                      The first part of paying off your debt is getting a complete picture of what you owe. When you have everything written out in front of you, it makes it much easier to create an action plan. Depending on how much you owe, it might also help you realize it’s not as bad you might have originally thought.

                      Here’s how you can get started identifying your debts:

                      1. Own Your Debt

                      Before you start identifying all of your debts, take a moment to process that you have debt but want to get out of it.

                      Forgive yourself for any past mistakes, missed payments, or overspending. It might be painful to accept how much debt you have at first, but you must own it.

                      2. Make a Debt Tracker

                      It’s astonishing how few people ever created a tracker to understand their total debts. Most likely, it comes from not wanting to accept the guilt of having debt, but, if avoided, it can make it nearly impossible to get out of debt.

                      Open up a new Google or Microsoft Excel sheet and list out all of your debts. Start with the name of the creditor, interest rates, total balance, loan term length (if any), and the minimum amount due each payment. This will include student loans, credit cards, and any other type of debt owed.

                      3. Get Your Debt Number

                      Once you’ve made your debt tracker and taken the other steps, identify your total payoff number. This is crucial, as you will have a starting point and a clear goal that you are trying to achieve.

                      Prioritizing Your Debts

                      All debt is not created equal. It’s imperative to understand that there are different types of debt.

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                      1. Understand Bad and Good Debts

                      Bad debts are usually paying for things you want instead of always need. While there might be some emergencies that max out your credit cards, often times it’s excessive spending[1].

                      There are three main types of bad debt:

                      • Credit Card Debt: The average American household owes over $16,000 in credit card debt!
                      • Auto Loan Debt: According to CNBC , the average auto loan in the US is $30,032!
                      • Consumer Loan Debt: Consumer loan debt isn’t as common as credit card and auto loan debt, but it’s still considered bad as interest rates are usually between 10-28%.

                      Good debt is identified as investments in your future. Here are three common types of good debt:

                      • Student Loan Debt
                      • Mortgage Loan
                      • Business Loans

                      2. Decide Which Debt to Pay off First

                      Once you know each type of debt and their interest rates, you can begin to pay off debt quickly.

                      Focus on paying off bad debt first, regardless of if it is a credit card or auto loan. Start by paying off the loan with the highest interest rate first.

                      If you have several credit cards with different interest rates, you want to focus on the one with a higher APR. You will actually save more money by eliminating the card with the highest interest rate.

                      3. Don’t Pay the Minimum Amount

                      Paying the minimum amount digs you into a hole as interest rates will offset your payment. Even a small amount more than the minimum can help you pay off debt much faster.

                      Removing Obstacles to Pay off Debt Quickly

                      Creating a debt tracker and prioritizing a plan is simple, but avoiding temptation can be difficult.

                      1. Set a Reminder to Track Your Debt

                      “If you can’t measure it you can’t manage it.” -Peter Drucker

                      It’s so important to track your debt to ensure that you get it paid off quickly. Similar to working out and measuring your results, you need to track your debt constantly. Start with a weekly reminder, where you sign on and log your updated number. Did you increase, decrease, or stay the same?

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                      Regularly tracking your student loan balance can be incredibly motivating, as well. You will get a huge confidence boost each time you see your total debt amount decreases.

                      Set weekly and monthly goals so you can have short term wins and keep the momentum going.

                      2. Hide Your Credit Cards

                      If your biggest debt is credit cards, you need to eliminate temptation and remove them from your wallet.

                      Some people have gone to extreme measures by freezing their credit cards. Why? This would create an ice block around your card, which would require you to chip away at it slowly. This will give you time to think if it’s the best idea to buy that thing you’re about to buy.

                      3. Automate Everything

                      Willpower can be a huge downfall to paying off your debt. By automating your bills each month, you will ensure that willpower isn’t involved.

                      4. Plan Ahead

                      Getting out of debt will require some sacrifices, but with enough planning, you can make it work.

                      For example, if you know that you have a friend’s birthday or family dinner coming up, plan ahead for the costs. Whether you need to cut back on spending the week before, pick up a side job, or meet them after dinner, do what is needed.

                      5. Live Cheaply

                      The only way to get out of debt is to make some sacrifices on your spending habits. Find ways to save money each month so you can apply that amount to your outstanding debts. Here are some ways to save money each month:

                      • Live with roommates
                      • Cook dinners and prepare lunches for work instead of eating out
                      • Cut cable and choose Netflix or Amazon Prime
                      • Take public transit or bike to work

                      Finding the Lowest Interest Rates

                      The higher your interest rates, the harder (and longer) it will take you to pay off any debt.

                      If possible, you want to find ways to lower your interest rates to help get out of debt quickly. Here’s how you can get started:

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                      1. Maintain a High Credit Score

                      Your credit score will have a large impact on your ability to refinance your loans and receive a lower interest rate. If you have a low credit score, it’s unlikely you will be able to refinance your loans. Use these credit tips to increase and maintain an excellent score:

                      • Never miss a payment
                      • Don’t exceed 30% of your credit limit
                      • Don’t sign up for more than one card at once
                      • Limit hard inquires, like auto-loans and new credit cards
                      • Monitor frequently with free credit-tracking software

                      2. Find Balance Transfer Offers

                      Start by opening a free account on credit.com. Credit.com offers you the chance to open a free account and see what type of balance transfer offers you can receive. Some of your existing credit cards might already have 0% or lower APR balance transfer offers available.

                      Contact each of your credit card providers to ask about lowering your rate for a one-time balance transfer offer[2].

                      If you do take advantage of this option, make sure that you use a balance transfer and not a cash advance. Cash advances have a ton of high interest fees (15-25%, depending on your credit card) and will only compound your debt problem.

                      How to Get Rid of Debt Forever

                      Setting up a plan, removing temptations, and getting the lowest interest rates is the first step to get out of debt.

                      1. Keep Monitoring and Adjusting

                      Once you have a plan, don’t get comfortable. Track your debt payoff plan and make the necessary adjustments when needed.

                      Monitor your credit scores with a free site like CreditKarma. The higher your credit score climbs, the more likely you will be to secure a new, lower-interest loan.

                      2. Earn More Money

                      There are only so many ways to save money. Instead of clipping another coupon or making sacrifices for your morning coffee, find ways to earn more money!

                      Think about it…it is much easier to find ways to earn an extra $1,000 per month than find $1,000 to cut from your budget.

                      Here are some examples of ways to earn more money:

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                      Talk to Your Boss

                      Have a conversation with your boss about current salary and/or commission rates. If you’re not satisfied or want a change, don’t be afraid to look around at other positions. Some of them might even have a student loan debt reimbursement plan!

                      Start a Side Hustle

                      This could be coaching students on the weekends, driving for Uber, or taking paid online surveys. There are tons of ways to make money outside your 9-5. Now that you have a clear plan to pay off your debts, you’ll be more motivated than ever to figure out creative new ways to earn money.

                      Build an Online Business

                      There are so many websites and blogs that earn money from ads, affiliates, and other online products. Find your niche and get started.

                      3. Celebrate Your Wins

                      As you progress in your debt payoff journey, don’t forget to celebrate your wins. You need to always reward yourself for the hard work and discipline that is required to get out of debt.

                      While you shouldn’t celebrate so big that it increases debt, make sure to factor in little rewards to keep you motivated.

                      4. Set New Financial Goals

                      Eventually, with a plan and these steps, you can rid yourself of your debt. Once you do, make sure to celebrate your monumental achievement, but don’t stop there.

                      Now, you can focus on acquiring wealth and increasing your net worth. Set new financial goals so you have a new target to aim toward. Here’s how to set financial goals and actually meet them.

                      These could be anything now that you are debt free! Think about where you want to travel, buying your first home, or saving for your future retirement. Just like before, make sure that your goals are specific, measurable, and achievable.

                      Conclusion

                      Congrats, you can now set a plan in motion to finally pay off your debt quickly (and hopefully forever)!

                      Remember, if you want to get out of debt quickly, it’s not always easy. Just like any big goal, there will be sacrifices, challenges, and problems to overcome.

                      More Tips on Getting out of Debt

                      Featured photo credit: Pepi Stojanovski via unsplash.com

                      Reference

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