PayPal is an extremely popular payment processor that is used by businesses of all sizes. PayPal allows businesses to accept payments from customers, transfer money within their organization.
There are several reasons why you might need to find an alternative to PayPal when accepting online payments as a business. You may be looking for more customization options with your payment processor or need integration with your accounting software.
You may also want to remain HIPAA compliant when processing payments as a healthcare business or non profit organization. Whatever the case may be, there are many great alternatives to PayPal that offer different features and third-party integrations.
Each of these payment processors offers different pros and cons depending on your needs as a business. Let’s take a look at some of the best alternatives:
Square
Square is a very well-known company that offers a wide range of products for businesses, including a payment processing service. It has become especially popular for businesses that need to process quick.
Some of the most popular use cases for Square include retail stores, food and beverage vendors, and pop-up shops. Square offers a few different pricing plans that vary based on the volume of transactions.
The Basic plan starts at $49 per month and allows you to process $100,000 per month in payments with a 2.75% transaction fee. If you see a higher volume than that each month, you might want to look at the Standard plan at $79 per month and $250,000 in payment volume with a 2.75% transaction fee.
If you expect higher volume, the Advanced plan will cost $199 per month and allow to process $500,000 in payments with a 2.75% transaction fee. Square is a option for businesses that process low-dollar payments.
Stripe
This is another extremely popular payment processing provider that is used by several businesses that have outgrown their free PayPal account or other online payment processors.
Stripe has several different plans depending on the volume of payments you plan to process per month. The most popular plan is the Standard plan which starts at $79 per month and allows you to process $500,000 per month with a 2.9% transaction fee.
The volume-based Advanced plan is $299 per month and processing $1 million in payments with the same 2.9% transaction fee. Stripe is a great choice for e-commerce businesses that want to accept all major credit cards, debit cards, and other payment methods.
It also integrates with several different accounting software providers like QuickBooks, Xero, and Zoho Books. If you have a business that is growing and needs a payment processor with more robust features than a free PayPal account, Stripe is a great choice.
WePay
This is a payment processor that is best suited for non-profits and other organizations that are required by law to keep donor information private. WePay does not collect or store any information about its users, so it is a great choice for privacy-focused businesses.
WePay is best suited for people who want to accept one-time or recurring donations from their customers. If you want to process payments from your customers, WePay may not be the best fit for you.
WePay offers three different pricing plans that start at $49 per month, $79 per month, and $149 per month. The $49 per month plan is perfect for small organizations that only process a few donations every month.
The $79 per-month plan allows you to process up to $25,000 in donations each month, and the top-tier $149 per-month plan allows you to process up to $50,000 in donations each month
WePay is a great choice for businesses that want to accept and process payments without collecting any personal information from their donors.
Google Pay
Google Pay is a payment processor that is integrated directly into Gmail. You simply click the “Buy” button from an email, select the payment information from your preferred payment processor, and then click “Buy” again to confirm the purchase. Google Pay is a convenient payment processing method for online purchases.
But it is only available in a handful of countries. Google Pay also only allows you to accept debit and credit cards, so it is not a great choice for businesses that want to accept cash or offline payments.
Google Pay does not charge a transaction fee as long as you use it with a debit or credit card. You simply pay the interchange and processing fees that your card processor charges you.
If you plan to use Google Pay for online purchases, it is best to use a debit card. Credit cards often carry a higher processing fee, and Google Pay does not charge any additional fees for credit card purchases.
SumUp
SumUp is payment processing provider that is best suited for one-time or recurring donations from customers. Sum Up does not offer a payment processing solution for accepting online payments from your customers.
If you want to accept online payments from your customers, SumUp is not a great choice for you. That being said, SumUp is one of the most affordable payment processing options available.
It only costs $9.95 per month to use their service, and there are no transaction fees. SumUp lets you create an online donation form that your customers can use to donate to your non-profit or business.
It is a great choice for businesses and non-profits that are focused on one-time donations, but it is not a great choice for businesses that want to accept recurring payments.
Amazon Pay
Amazon Pay is a payment processor that is integrated directly into Amazon. This means that customers do not have to create an account with a third-party payment processor like they would with Google Pay or PayPal.
Amazon Pay is only available in a few countries, but it is a great choice for Amazon sellers that want to accept a single payment for their products. Amazon Pay does not charge a transaction fee or have any other fees. It simply collects the interchange and processing fees that your credit card processor charges you.
Amazon Pay is a great choice for businesses that want to accept a single payment for their products. It is not a great choice for businesses that want to accept recurring payments from their customers.
2Checkout
This is a payment processor that is best suited for businesses that want to accept a wide variety of payments including cash, checks, and other offline payments. It is one of the most robust payment processors available, so it is a great choice for businesses that want to accept several different payment methods.
There are two different plans available from 2Checkout. The Basic plan starts at $59 per month and allows you to process $100,000 per month in payments with a 2.49% transaction fee.
If you want to process more than $100,000 per month, the Standard plan will cost you $69 per month and allow you to process $250,000 per month with a 2.49% transaction fee. 2Checkout is a great choice for businesses that want to accept a wide variety of payments.
Shopify Payments
Shopify Payments is a payment processor that is integrated directly into the Shopify e-commerce platform. It is a great choice for businesses that want to accept online payments.
Shopify Payments offers a couple of different pricing plans. The Standard plan starts at $29 per month and allows you to process $25,000 per month in payments with a 2.9% transaction fee. The Unlimited plan starts at $79 per month and allows you to process $100,000 per month in payments with a 2.9% transaction fee.
Shopify Payments is a great choice for online retailers that want to accept a wide variety of payment methods and do not want to sign up for a third-party payment processor.
Authorize.Net And Checkout From Shopify
Authorize.Net is a payment processor that is used by many businesses. It is a great choice for businesses that want to accept a wide variety of payments and use a robust payment processing solution.
Authorize.Net also offers a “Checkout from Shopify” integration that allows you to process payments directly from your Shopify e-commerce platform. This is a great option for businesses that want to accept payments through their website but do not want to sign up for a third-party payment processor.
There are three different pricing plans available from Authorize.Net. The Standard plan starts at $19.95 per month and allows you to process $25,000 per month in payments with a 2.9% transaction fee.
Conclusion
There are many different payment processing solutions on the market, and it can be difficult to choose the right one for your business. If you are able to accept credit card payments directly from your customer when they make a purchase, then you should choose PayPal as your payment processor.
If you need access to additional features like invoicing or recurring payments, then you should choose a competitor mentioned in this blog. It is important to find the solution that works best for your business.
