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Many businesses that shifted to online operations rely on PayPal to process payments.

PayPal is a convenient, multi-service platform that caters to over 200 countries, facilitating digital customers in making their payments. Still, PayPal has its drawbacks:

  • PayPal has randomly frozen user accounts without warning.
  • Transferring money to your bank account usually takes five to seven days.
  • PayPal has steep transaction fees, and as of August 2, 2021, PayPal’s updated transaction fees went into effect. Instead of 2.9% + $0.3, PayPal is now charging 3.49% + $0.49 per transaction.

According to PayPal, it has increased the rates of its popular services — PayPal Checkout, PayPal Credit, and Pay with Venmo — to reflect the costs of upgrading and improving the platform’s security.

However, if you’re a freelancer or operating a small business, the increased transaction fees can eat into your profit margins.

The good news is that PayPal isn’t the only digital payment solutions provider in the market. There are PayPal alternatives that can provide even better services.

Read on to learn more about top PayPal alternatives:

  1. Wise (Formerly TransferWise)
  2. Payoneer
  3. Stripe
  5. 2Checkout

1. Wise (Formerly TransferWise)

PayPal alternative — Wise

Wise is one of the best PayPal alternatives when it comes to international transfers. It charges lower transaction fees and uses real-time foreign exchange rates.

If you’re running a freelance business, your contractors in other countries receive more money than they would with PayPal.


  • It uses real-time foreign exchange rates and offers lower fees than PayPal.
  • Wise’s Multi-Currency Account provides a debit card and empowers you to manage money in more than 40 currencies.
  • It’s simple and easy to use.
  • Wise’s Business account allows you to invoice customers in their currency.
  • Wise transfers the money directly to your bank account with a quicker turnaround than PayPal’s.


  • It is available in 65 countries as compared to PayPal’s 200+.
  • Business transfers are restricted in some countries.

Best PayPal alternative for: Solopreneurs and service-based businesses with multiple international transactions

2. Payoneer

PayPal alternative — Payoneer

Available in over 150 countries, Payoneer is a comprehensive solution for freelancers and e-commerce businesses.


  • It offers free transfers between Payoneer accounts.
  • Payoneer charges lower transaction fees than PayPal for transferring money to a bank account (2%).
  • It’s simple to use.


  • Payoneer charges an inactivity fee if an account remains inactive for more than 12 months.
  • It has a higher credit card fee than other services (3% vs. 2.29% for PayPal).
  • The computation of transaction fees can be confusing. You can be charged conversion fees, bank fees, and other fees not included in Payoneer’s calculations.

Best PayPal alternative for: Small to medium businesses looking for an all-in-one solution

3. Stripe

PayPal Alternative — Stripe

Stripe differentiates itself from other PayPal alternatives by focusing on the infrastructure side of online finance. It provides integrations for many popular e-commerce platforms such as Shopify and WooCommerce.


  • Stripe accepts varied payment types — including AliPay, Apple Pay, and Google Pay.
  • It provides more integrations and customizations than PayPal.
  • Transaction fees are lower than PayPal.


  • Stripe is only available in 44 countries.
  • It requires technical know-how to set up.

Best PayPal alternative for: Online businesses


PayPal Alternative —

While, a subsidiary of Visa, is unknown compared to the other payment solutions, it boasts secure transactions and incredible customer support.


  • It features the best user support and customer service.
  • comes with an intuitive interface.
  • It integrates with other payment methods.
  • It charges lower transaction fees (2.9% + $0.3 per transaction or only $0.1 per transaction if you have a merchant bank account).


  • It charges a $25 monthly gateway fee (which might not be worth it if you have limited monthly transactions).
  • Unlike PayPal, it is a purely business payment solution — not fit for personal use.

Best PayPal alternative for: Small businesses looking for secure transactions and top-notch customer service

5. 2Checkout

Paypal Alternative — 2Checkout

2Checkout is another PayPal alternative that focuses on international transactions. It accepts over 45 payment methods and supports over 200 countries.


  • It supports 80+ currencies, 30+ languages, and over 200 countries.
  • It integrates with over 120 shopping carts.
  • 2Checkout has lower international transaction fees compared to PayPal.


  • 2Checkout’s fees inside US are comparable to PayPal’s.

Best PayPal alternative for: Businesses supporting international transactions

Final Thoughts: Top 5 PayPal Alternatives for Your Business

PayPal may be the most popular online payment processor available, but it isn’t the only one in the market.

With PayPal raising its fees, try these PayPal alternatives to save on your business’ transaction fees.

Have you used any of these PayPal alternatives? How was your experience? Let us know in the comments.

What are PayPal alternatives?

PayPal alternatives are online payment platforms that offer similar services to PayPal, such as facilitating transactions, sending and receiving money, and online payment processing. These alternatives provide different features, pricing, and user experiences.

Why would someone consider using a PayPal alternative?

There are several reasons why someone might consider using a PayPal alternative:
Dissatisfaction with PayPal’s fees and transaction costs.
Limited availability of PayPal in certain countries or regions.
Seeking specific features or integrations not offered by PayPal.
Experiencing issues with PayPal’s customer service or security concerns.

Are PayPal alternatives secure for online transactions?

Yes, reputable PayPal alternatives employ robust security measures, including encryption, fraud detection, and compliance with industry standards to ensure secure online transactions.

Can I use PayPal alternatives for international transactions

Yes, many PayPal alternatives support international transactions, allowing you to send and receive payments globally. However, availability may vary based on the specific platform and supported countries.

Are there alternatives specifically for eCommerce businesses?

Yes, some payment providers cater specifically to eCommerce businesses, offering features like easy integration with popular eCommerce platforms, customizable checkout experiences, and comprehensive reporting tools.

Can I use multiple payment gateways on my website?

Yes, many websites use multiple payment gateways to provide customers with different payment options. It can be advantageous for businesses to accommodate diverse customer preferences.

How do I choose the right PayPal alternative for my needs?

When selecting a PayPal alternative, consider factors such as transaction fees, supported countries, integration options, security measures, customer support, and the specific features that align with your business requirements. It’s essential to research and compare different options to make an informed decision.

  • Tiffani Anderson

    Tiffani is a Content and SEO Manager for the Bluehost brand. With over 10 years experience across all facets of content and brand marketing, she strives to combine concepts from brand marketing with engaging content through the lens of SEO.

    University of North Texas
    Previous Experience
    Content Marketing, SEO, Social Media
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1 Comment

  1. Paul @ Forest Design Reply

    Stripe is good, I’m sure the others are as well but I think brand recognition is very important when it comes to that screen where customers are about to part with their money. I know some people who prefer to pay via PayPal compared with entering card details because they assume it’s safer. Someone I live with is just scared to order online full stop but trusts PayPal. Annoying!

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