Top 7 PayPal Alternatives In India
There are a lot of Paypal Alternatives out there on the internet.
Why do you need Paypal alternatives in the first place?
This is because Paypal does not offer very high conversion rates. Moreover, Paypal charges you when you receive money via transactions, it can often freeze its user’s accounts.
Paypal may also hold on to one’s money because of which is not always preferred by freelancers and businessmen.
It is for all these reasons that there are many Paypal Alternatives for freelancers or businessmen that have become very popular in India and other countries.
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Payoneer is an American-based financial service company with its headquarters in New York.
It is one of the best PayPal alternatives for freelancers in India because it offers better exchange service rates than Paypal.
To log onto Payoneer, you need to click on the Register button.
You will be directed to a page where you will have to select your profession, your goal, and all the other important details.
Then there are a lot of other details that you will have to fill up, like your contact details, security details, and verify your details as well.
Payoneer is also considered one of the best Paypal Alternatives in India because it helps its users to scale their business globally and domestically as it has a working capital platform designed for freelancers.
Payoneer can also be considered as a Paypal alternative for business as well.
Stripe is an Irish-American financial service with its headquarters in San Francisco. It was founded in 2010 by John and Patrick Collison.
Stripe has a fully integrated suite of payment products which brings it in the race for the top Paypal Alternatives in India.
Stripe can be used by developers to integrate payment processing through their website or mobile application.
Like Payoneer, Stripe is also private industry.
Stripe also has a lot of partners!
Wise( formerly known as TransferWise) is a London- based financial technology company that was founded in 2011.
The founders of Wise are Estonians Kristo Käärmann and Taavet Hinrikus.
One of the best things about wise is that it has Global Support in a range of languages. This is why Wise can be considered a great Paypal alternative in India.
Wise also has a multi-currency account so that you can carry on with global transactions without any hindrance.
Authorize.net is a United States-based payment gateway service provider.
It was founded in the year 1996 by Jeff Knowles.
It is a Subsidiary type website and had around 90,000 users as of 2004.
Authorize.net has a number of special features.
You can choose a plan according to your preference.
Authorize.net also provides the feature to accept payments anytime via Visa, MasterCard, or other facilities.
Authorize.net also has a lot of other features like free support and it helps you understand all the basics in a simple way.
Authorize.net can be considered as another good alternative to Paypal in India.
These three simple steps are enough for you to sign up for Authorize.net and use it as another online payment method like Paypal.
You only need to enter the necessary contact and security details to start with your journey along with Authorize.net.
Skrill is a United Kingdom-based company with its headquarters in London.
It was founded in the year 2001 by the Paysafe Group.
It is a Private Type company.
Xoom Corporation is an electronic funds transfer that allows consumers to send money and pay bills.
It is situated in San Francisco and was founded in 2001.
7. Google Pay
Google Pay is a digital wallet platform and an online payment system developed by Google itself.
It was founded in 2015.
Google Pay has been developed to be used as a desktop website, or an android or iOS application, to enable the contactless exchange of money between two or more users.
Most of us already have Gmail accounts which we use to sign in to Google. We can use the same email for GooglePay.
GooglePay is used almost everywhere and hence it has emerged as a very powerful Paypal Alternative.
Conclusion on Best Paypal Alternatives
In conclusion, I would like to say that even though Paypal is a great online payment platform, there are a lot of Paypal Alternatives that are actually better than it in certain aspects.
For freelancers, Payoneer is the best Paypal alternative because of its high conversion rates and Customer support.
For large transactions, Wise( another Paypal Alternative), is very useful as it also offers very high conversion rates.
If you want a great payment gateway for your business, you can use Stripe, as it is very flexible in payment options and it is really easy to integrate it into your website.
There are many alternatives to Paypal that you can consider and eventually use for yourself.