The 5 Most Popular Online Payment Solutions
There’s no doubt that when it is about accepting and receiving money, PayPal is the reigning winner. It’s actually the most popular online payment option for customers, freelancers and business owners.
While many people are drawn to PayPal for many reasons technological advancements have made it possible for many competitors to compete with PayPal by offering lower-cost free services more speedy transactions, as well as improved security. Here are fifteen of those alternatives.
Due earned its name through its unique time-tracking and invoicing tools, particularly helpful for freelancers and small-scale business owners. Recently, Due has allowed users to begin accepting safe online payment with just the 2.7 percent transaction fee. Due also accepts payments from all over the world that typically take two working days. It also offers an electronic wallet that allows you to transfer money to any person in the world in a matter of minutes at minimal or cost. Due even offers an online bank that allows you to save your money online.
Stripe has impressed users for the past couple of years thanks to its powerful, flexible API. It allows you to modify the platform to suit your requirements, regardless of whether you’re operating an organization that is subscription-based or an online marketplace. Stripe is compatible into hundreds of additional apps which means that even if not a skilled coder, you’ll be able to get up and running in a matter of minutes. There is no fees for setup, monthly, or hidden charges is a major benefit.
Dwolla offers the same features as PayPal in terms of transfers of funds, however, due the API it concentrates more on bank transfers and the Automated Clearing House (ACH) payments and allows users to develop an customized payment system which allows payment within the same day. The best part is that transactions are absolutely free.
4. Apple Pay
If you’re a business owner and you’re a merchant, it’s time to look into taking on Apple Pay. Payments are more efficient and safe, as Apple Pay uses touch ID confirmation. That is customers can make use of their finger to purchase takeaway pizza. Apple Pay is still relatively new, but don’t be shocked if it does adjust to accommodate older machines. Additionally, word on the street is that Apple is developing an P2P payment system that is part of iMessage.
Payoneer is among the oldest payment processing solutions. It’s accessible in over 200 different countries, and accepts 150 currencies. Payments are free and the platform has an API that can grow as your business expands. Similar to PayPal it is possible to get the plastic MasterCard even if you’re not yet ready to go 100% digital.