There are a few things people are concerned about online shopping, be it their credit card information being at risk, the security of their mobile transaction, or not being able to get a refund if the item they purchased is unsatisfactory.
Others may not be able to use their local credit card on a website. This is why there are online international payment services like PayPal which makes it easy to send, receive and even request for money across borders.
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Because it’s so popular, there are a lot of rules and regulations that might hinder a few people from successfully completing a transaction. If you find that PayPal isn’t really a good pal to you, this post will give you a few alternatives, complete with comparisons of features, differences and added services they can provide.
PayPal – The Service To Beat
We’ll start with the favorite (somewhat hated), PayPal.
PayPal works in many countries and some allow you to link a bank account to transfer or withdraw funds. If linking a bank account is not an option, a debit or credit card would work as well. Once you have a payment method set up, your account will be verified and you can send or receive money with it.
PayPal charges fees for any sort of money transfer and the rate varies between the currencies or country the money is sent or received at. When it comes to withdrawing money, there is also a flexible fee that PayPal charges depending on whether it’s withdrawn to your card or bank account. PayPal also has buyer protection for up to 45 days and it’s very easy to issue or ask for a partial or full refund within that period.
PayPal is internationally known and used by many online shops, telecommunication companies and a ton of other online services. When it comes to convenience and worldwide recognition, it’s the number one choice.
PayPal Alternatives
Well that’s PayPal but let’s look at what other alternatives we can try out.
At the moment, Google Wallet is mainly used in the US but it accepts credit or debit cards frommany countries. It acts like a digital wallet, more so in the US as you can tap to pay in-store with anNFC-enabled Android device. As for online shopping, there are a handful of online merchants that accept checking out with Google Wallet.
Unlike PayPal, Google Wallet is strictly for mechants, so you cannot send money to other Google Wallet users. However, there are no chargeable fees when using Google Wallet online or in-store, this is good if you’re shopping on one of their online merchants where it only accepts US credit cards and not your local one.
MoneyBookers (currently also known as Skrill) allows you to send and receive money to other users. It works with other online banking services in certain countries and for all other countries, you can send and receive money with a debit or credit card. Each country is also charged differently when sending and withdrawing funds from MoneyBookers.
MoneyBookers focuses more on sending money between users as there are very few online merchants that allow you to checkout with its services. However, their main focus of being able to send money of any currency to anywhere in the world is solid, making it a close competitor to PayPal.
Paymate is a great way for sellers based in Australia and New Zealand to get money from international buyers from many countries. Sellers from the two countries can use Paymate on theirwebsite or on Ebay Australia for a small fee.
As for the buyers, all you have to do is key in your credit card information to pay, taking away the hassle of creating an account. Although this means there’s no way to send money to another user, online merchants can take advantage of Paymate as an alternative payment. Also, your credit card details are not sent to the seller but handled securely by Paymate.
Formally known as AlertPay, Payza lets you send and receive money from 190+ countries across 21 currencies. The service is mainly based in US and Canada but also supports certain banks and credit/debit cards from their recognized countries. You can add funds to your Payza account viabank transfer or credit card, send money to other users, and even request money through invoices.
Creating an account is free but for all the above services of transfering money, there is a small feewhich is quite competitive compared to PayPal. Besides transfering money between users, Payza is a great payment service for online merchants with a lot of security features and can also help youmanage multiple businesses with one account.
Payoneer is an interesting way to pay for online shopping. Registering for the service grants you access to a prepaid MasterCard which will be sent to your doorstep. Creating an account is free and you’re only charged when you activate the card. Once the card is activated, you can load money into the card from your local bank or other credit cards.
An activated Payoneer card can be used in many countries and in different currencies. Of course, maintaining the use of this activated card requires an annual fee. With the card, you can purchase items and even withdraw money from a MasterCard ATM.
