Best PayPal Alternatives for eCommerce Shopify Stores Owner
While PayPal is one of the most well-known payment gateways around, it’s not for everyone. Depending on your situation, the fees might be higher, or you might be able to get better service elsewhere
Why you need PayPal alternatives for eCommerce store?
There are several reasons store owners look for PayPal alternatives for Shopify store
- Sometimes other payment processors have better rates, depending on your country, the credit card used, or the currency used.
- Some alternative payment gateways have better customer service.
- A few alternatives deliver money into your bank account faster than PayPal.
- Other alternatives provide cleaner interfaces, more flexibility, and more powerful tools.
- PayPal Payments Standard sends customers away from your website, since it uses a PayPal checkout page.
So, if you’d like to explore the world of PayPal alternatives for eCommerce, keep reading to see if you can save money or make your transactions run smoother.
Best PayPal alternatives for eCommerce Shopify stores
Before we begin, it’s important to note that there are two versions of PayPal for eCommerce stores:
- PayPal Payments Standard – what most people are familiar with–a simple Buy Now button embedded on the site, where the customer is sent to a PayPal checkout page.
- PayPal Payments Pro – you can customize your shopping cart and have the checkout on your own website for $30 per month plus a $79 WooCommerce extension.
Comparing PayPal to Stripe, it depends on how you want your checkout to look like or how you want to accept your payments. Stripe starts to look appealing for many eCommerce sites, Smaller companies can’t go wrong with PayPal Standard. To start, Stripe offers a free WooCommerce plugin and a paid one for EDD (Easy Digital Downloads).
- Stripe’s fees are far lesser than the PayPal Payments Pro fee structure of 5% + $0.05 If you plan on accepting micropayments of under $10.
- The Stripe merchant interface is far better than PayPal Standard and PayPal pro
- PayPal Payments Pro has a $30 monthly fee but Stripe doesn’t have any monthly payments.
- Stripes help by eliminating the Merchant and Gateway account
- Having a developer on your team makes Stripe more easy for you because it’s very customizable
Square was officially known as the little handy mobile payment device which you can take along to Trade Show. Since Square also accepts online payments for eCommerce handy mobile payment changed quite a bit
Benefits of Square over PayPal
- Both Square and PayPal are competent for online and mobile payments. However, Squares combination of tools and interface beats PayPal in almost every way. for example, the square mobile reader added more features like “Offline Mode” and you can sync incredibly with your online store, POS, Invoices.
- Square as an amusing, and free POS software
- Compare to $40 per month with PayPal, Square recurring payment is easy to set up and it’s free
Authorize.net is also one of the recognized payment gateways in the world. The objectives merchants see with Authorize.net is that it has several startup fees. For instance, there’s a setup fee. After that, the monthly charge.
Benefits of Authorize.net over PayPal
- The checkout process is all done on your website, so much better than PayPal Standard in that aspect.
- Along with all major credit cards, You can still accept PayPal payments through Authorize.net
- Advanced Fraud Detection beats PayPal’s Detection
- QuickBooks account can help you with your sync also
- The support team is one of the best in the business
2Checkout is an amazing PayPal alternative for accepting payments worldwide. PayPal has been pretty good with accepting many currencies from different countries, but 2Checkout still stands out.
Benefits of 2Checkout over PayPal
- 2Checkout supports over 87 currencies, eight payment methods, 15 languages, and over 200 markets.
- 2Checkout doesn’t have any monthly fees unlike PayPal Payments Pro
- Customizing checkouts is available with three templates to start with
- The advanced fraud protection is quite impressive. Over 300 security rules are run on all transactions.
When using PayPal, international payments are mostly stressful. However, with Skrill, you receive a prepaid debit card that accepts those international payments immediately. You can later use the card at stores and ATMs.
Benefits of Skrill over PayPal
- Skrill offers some of the fastest international payments, making it perfect for those who might run into country-based problems with other options.
- Skrill typically allows you to sell “riskier” online products with less red tape, e.g. gambling products.
- Cross-border transaction fees are free with Skrill, while PayPal charges from 0.5% to 7.4%.
It is time you found something other than PayPal
From Square to Skrill, you have choices when it comes to PayPal options for eCommerce. As specified above, you can see sometimes you need a PayPal alternative because of your company’s country. The monthly fees are lower sometimes…
Whatever the reason, use this article as a spin-off point and see if one of these alternatives offers a cheaper, easier, more streamlined towards payments.