Top 10 PayPal alternatives: Best payment solutions for businesses

When it comes to online payments, PayPal is a well-known choice. But there are a number of alternatives available, each with its own advantages and disadvantages. If you're running a retail or hospitality business, you should definitely be aware of the payment providers that specialize in those industries. This article will compare the best of them.

Types of PayPal alternatives

When it comes to online payments, PayPal is a familiar option, but there are many other online payment platforms that can better suit your business needs. Let’s explore some top PayPal alternatives that offer secure payments, lower fees, and specific advantages based on the type of business transaction you’re managing.

Payment processors

Payment processors are essential for any online business wanting to accept payments, especially credit card payments and mobile payments. They handle the entire payment process, securely transferring funds from the customer’s bank account to your linked bank account. Options like Stripe, QuickBooks Payments, and Epos Now Payments allow you to send payment links and accept recurring payments without the hidden fees or early termination fees that often come with a standard PayPal account. For businesses managing international transactions, payment processors offer multi-currency accounts and currency conversion to make global payments easy. Monthly fees or a fixed fee may apply depending on the platform.

Digital wallets

Digital wallets like Apple Pay and Google Pay offer a fast, contactless payments experience, making them popular choices for mobile devices. With these options, customers can save their debit card or credit card information securely on their smartphones, enabling easy checkouts both online and in-store. Digital wallets also offer additional layers of security by using tokenization for secure payments, meaning the actual card number isn’t shared during transactions. They’re perfect for online payment systems aiming to accept digital payments without high transaction fees, making them a solid alternative to PayPal.

Credit card payment processors

Some PayPal alternatives specialize specifically in credit card payments, catering to businesses that deal with high transaction volumes. Look for providers with low fees for credit card and debit card payments, which can save online stores a lot in processing fees. These platforms are also transparent about deposit fees, processing fees, and monthly costs, helping you avoid additional fees. Many also offer options for recurring billing, which is a big plus for subscription-based services.

Point of Sale (POS) systems

For businesses that operate both online and offline, POS systems are a powerful alternative to PayPal, offering an all-in-one payment platform that goes beyond simply accepting payments. Systems like Epos Now provide comprehensive solutions, supporting a variety of payment methods such as credit cards, debit cards, mobile payments, and even local bank transfers. POS systems are particularly well-suited for retail and hospitality businesses because they integrate payment processing with essential management tools like inventory tracking, customer insights, and sales analytics.

Here are some top POS providers offering diverse payment solutions:

Epos Now

Epos Now is a powerful POS system crafted to meet the needs of retail and hospitality businesses, from small boutiques and larger retailers, to restaurants and ecommerce businesses. It’s built with a focus on speed, ease of use, and affordability, allowing businesses to connect with customers while personalizing their POS setup to suit specific operational needs. The setup process is straightforward, taking just 15 minutes, so you can quickly turn your attention to delivering an outstanding shopping experience.

POS software

Epos Now’s POS software streamlines operations across various sectors, featuring an intuitive interface that makes payment processing seamless. You can easily accept multiple payment types, ensuring quick and secure transactions. For retail, the built-in product matrix organizes items by size, brand, or color, simplifying inventory management. In hospitality, it offers table management and order tracking to enhance service efficiency. By automating manual tasks, Epos Now speeds up service and boosts customer satisfaction. Plus, with ecommerce functionality, you can reach a wider audience by selling online, drawing in customers from diverse locations.

Hardware

The Epos Now Complete Solution provides everything you need to run your retail or hospitality business smoothly, including a POS system, cash drawer, and receipt printer. This hardware is designed for efficiency, enabling quick and accurate transaction processing, whether you're serving customers at a retail counter or managing orders in a bustling restaurant. Its versatility ensures it adapts well to various environments, from boutiques and pop-up shops to hotels, full-service restaurants, and cafes.

Integrations

Epos Now’s powerful integration capabilities allow you to connect with essential business tools tailored for both retail and hospitality. You can easily link accounting software like QuickBooks or Sage to manage your finances efficiently. Capture valuable customer data during transactions, whether in-store or online, to create targeted marketing campaigns and loyalty programs. With advanced sales reports, Epos Now provides insights into customer preferences, enabling you to make informed decisions about promotions and inventory management, which is vital for both sectors.

Epos Now Payments

Epos Now Payments offers a simple and efficient payment processing solution designed specifically for retail and hospitality businesses. With this service, you can accept integrated payments at a fixed rate, eliminating hidden fees and providing transparency in your transactions. Whether you're processing payments in-store or online, Epos Now Payments ensures you can do so quickly and effortlessly.

This payment processing service seamlessly integrates into your existing Epos Now POS system, allowing you to manage everything from a single portal. This means you can provide customers with their preferred payment methods (be it credit cards, debit cards, digital wallets, or even pay by link services) without any hassle.

Clover

Clover is a point-of-sale (POS) system tailored for small and medium-sized businesses. It provides both software and hardware options that cater to various sectors, including retail, restaurants, and service providers. Here’s a summary of its pros and cons:

Pros:

• Offers multiple pricing plans.
• Provides a free trial.
• Has hardware options.
• Suitable for online.

Cons:

• Applications for the POS system must be done through a sales representative; online applications are not available.
• Pricing details can be unclear, making comparisons with other systems difficult.
• No free plan is offered, which might discourage some potential users.

Square

Square is a payment processing and point-of-sale (POS) platform designed for businesses of all sizes. It is often recommended for those new to the retail industry. Here’s a breakdown of its pros and cons:

Pros:

• Free to start using.
• No monthly fees with the basic plan.
• Offers various POS hardware options.
• Includes loyalty programs for customers.

Cons:

• Accounts may freeze if there’s irregular activity.
• Not suitable for high-volume transactions.
• Lacks phone support.

Lightspeed

Lightspeed has been operating in the point-of-sale (POS) sector for over ten years, providing a cloud-based and browser-accessible system, along with an app for iOS devices. It offers various features, including inventory management and customer support. However, its complexity might be challenging for newer clothing stores. Here’s a summary of its pros and cons:

Pros:

• 24/7 customer support.
• Users get a dedicated account manager.
• The system includes tools for managing inventory.

Cons:

• Lightspeed is generally more expensive compared to other options.
• Users might have to sign long-term contracts.
• Cancelling the service can be a complicated process.

Specialized option: Epos Now Payments

Epos Now Payments is a solid choice for businesses wanting to simplify how they handle payments. It integrates directly with Epos Now's POS system, making it easy to accept payments anywhere, whether you're in retail or hospitality.

One of the best things about Epos Now Payments is its fixed-rate pricing. Say goodbye to hidden fees that can surprise you later. You’ll know exactly what you’re paying for, which makes budgeting simple—no unexpected charges to worry about.

Getting started with Epos Now Payments is simple. Just apply through your Epos Now account, complete the security checks, and you’re ready to roll with this payment processor. There’s no need for a separate merchant account or payment gateway, so you can jump right in and focus on serving your customers.

Epos Now Payments also supports a wide selection of payment methods, which means your customers can pay the way they want. You can accept card payments, including major ones like American Express, as well as mobile payment options like Apple Pay and Google Pay.

You can also access detailed payment reports and track transactions easily alongside your regular business reports. This gives you a clear view of your cash flow and helps keep your bookkeeping in check. Plus, automated reports save you time and cut down on mistakes, so you can get back to running your business. With real-time insights from Epos Now Payments, you can make smarter decisions about inventory and staff management.

In short, Epos Now Payments is a great payment processing option for retail and hospitality businesses. With fixed pricing, simple setup, and useful reporting tools, it’s a hassle-free way to accept payments while giving you valuable insights into your operations.

Choosing the right PayPal alternative

Finding a solid PayPal alternative can be a game-changer for your online business, especially if you want to streamline your payment process and cut down on pesky fees. Here are some tips to help you choose the right payment processor for your needs.

• Consider your business type: Whether you run an online store or a service-based business, look for a payment platform that fits your specific needs. Some alternatives to PayPal cater better to ecommerce, while others might be perfect for service providers.
• Check for multiple payment methods: Make sure the payment solution allows you to accept various payment methods like credit card payments, debit card payments, mobile payments (think Apple Pay and Google Pay), and bank transfers. The more options you offer, the easier it is for customers to pay.
• Understand transaction fees: Different payment processors have different transaction fees. Some charge a flat fee, while others may take a percentage of each transaction. Look for a service that keeps these fees low so you can keep more money in your pocket.
• Watch out for monthly fees: Some payment processors come with monthly or annual fees, which can add up. Aim for a provider that offers low or no monthly fees to keep your costs manageable.
• Avoid hidden fees: Before committing, dig into the fine print. Check for hidden fees, deposit fees, or any charges for currency conversion. Transparency is key, so choose a platform that lays out all costs upfront.
• Look for recurring billing options: If your business involves subscriptions or regular payments, ensure the payment processor supports recurring payments. This feature can save you a lot of hassle when it comes to billing your customers.
• Evaluate security features: Secure payments should be a top priority. Look for online payment systems that offer encryption and fraud protection to keep your customers' data safe.
• Consider international transactions: If you plan to accept payments from around the world, check if the service supports international payments and currency conversion. Some processors make it easy to handle global payments, while others might charge extra for international transfers.

Comparative analysis of top PayPal alternatives

As well as Epos Now Payments, there are other services helping you collect payments from customers. These include:

Payoneer

• Payoneer is available in over 150 countries, just like PayPal.
• You can get a free account that lets you withdraw directly to your bank, or you can choose a prepaid card account that costs $29.95 a month.
• They charge $1.50 for local bank transfers.
• Handles international money transfers
• Their Billing Service allows businesses to set up payments from customers for a fee of 3% for credit cards and 1% for debit cards.

Stripe

• Stripe is an online payment platform only available to businesses based in the U.S. and Canada, but it accepts payments from anywhere.
• Their fees are straightforward: 2.9% plus 30 cents per transaction.
• The checkout happens on your site, not on a separate page like PayPal.
• Stripe automatically deposits the money into your bank account.

Venmo

• Venmo is a payment service for lots of apps and websites, like Uber and GrubHub.
• Withdrawals from your Venmo balance take a few business days to reach your bank. If you're in a hurry, you can get instant transfers for a 1% fee (at least $0.25, capped at $10).
• There are no monthly or annual fees with Venmo.
• Venmo also has social features, allowing likes, comments, and messages with each payment.

Amazon pay

• Amazon Pay doesn’t charge extra fees for transactions, memberships, or currency conversions when you shop at sites that accept it.
• Transactions are secure, and you can track everything through your Amazon account.
• It accepts credit and debit cards, plus you can use Amazon's Alexa for voice-activated purchases like donations or movie tickets.

Quickbooks payments

• You’ll need a credit card reader to take payments from your phone or tablet.
• Swipe rates start as low as 1.6%, or you can choose a monthly plan starting at $19.95.
• It works with iPhones, iPads, Android phones, and tablets.

Shopify payments

• You need a Shopify account to use Shopify Payments.
• Customers can pay with their favorite methods, like Visa, Mastercard, or Apple Pay.
• It has built-in fraud analysis that flags potentially fraudulent orders.
• Shopify pricing plans for sellers range from $29/month to $299/month.

Square

• Square is a retail platform that lets you sell in-person or online.
• It offers options for point of sale, ecommerce, invoices, and contactless payments.
• It's free to use, but you can add features like payroll and employee timecards if you need them.
• Square's Dashboard keeps all your business data organized in one place.

Apple Pay

• Apple Pay is integrated into your iPhone, Apple Watch, Mac, and iPad.
• It’s accepted by over 85% of retailers in the U.S., just like PayPal.
• There are no fees for using Apple Pay, whether in stores, online, or in apps.
• You can make secure, contactless payments using Apple Cash, Apple Card, or any credit/debit cards in your Wallet.

Skrill

• Skrill charges merchant fees that range between 2.5% and 4%.
• If you don’t use your Skrill account for a whole year, they hit you with a $5 fee.
• They have limited acceptance among merchants, while PayPal is widely accepted at major stores.
• There are two account types: the basic Skriller level (with fees) and the True Skriller level (which waives those fees).
• Skrill has no deposit fees and low withdrawal fees (either $5.50 or none, depending on your account type), plus sending and receiving money is free.

Conclusion

Now that you know everything about top Paypal alternatives, there's more to explore.

Curious for more reviews? Check out these comparison pieces we prepared:

• Paypal alternatives
• Sumup alternatives
• Lightspeed alternatives
• Toast alternatives
• Best POS system
• Best POS systems for bars
• Best POS system for retail
• Best POS system for liquor stores

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