Source: Dumb Little Man
Paypal is the biggest payment gateway out there and there’s no doubt about that. It is the most famous online payment system in the world to the point that people associate the word “payment gateway” with Paypal. It offers a nice, clean and very comfortable service within a click and makes everything possible.
You know the score.However, Paypal is not the only payment gateway out there and it is not even the best of the bunch. Sure, it dominates the market but it doesn’t mean that the competition is just slacking around. There are competitors and they rapidly evolve and try to outplay the big guy.
Before we get to the best alternatives to Paypal for business, let’s explain its problem first.
Paypal is a victim of its own marketing. Over the years, Paypal was hyped as the one and only super payment gateway and people believed in that idea. However, the reality is not exactly like that.
Paypal is good for basic transactions. It is serviceable for slightly larger sums but when it comes to a commercial operation with diverse payments and schedules, it gets clumsy and barely usable.
Another thing that raises concerns is security. Paypal is not very good at it. There are holes in its security systems that enable account hijacking and account blocking and that is not something you want to experience. Imagine the consequences of such glitches in your business.
Who are Paypal’s Competitors?
Diversity is the key to success in eCommerce operation. You need to have a set of options for your business and you need to give your customers several options to perform payments.
By using only one payment gateway, you are seriously limiting not just yourself but your customers, too.
With that, here are the best alternatives to Paypal for business you should consider.
Stripe
Stripe is a heavy hitter. It came late to the party and turned the tide on its side simply by being handsome and charming. Jokes aside, it is one of the biggest competitors to Paypal because of its smoothness of operation…
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