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Best PayPal Alternatives for Businesses in 2022

PayPal is one of the most popular payment gateways in existence, and for a good reason. It is reliable, fast, and as secure as a Swiss Bank account. At a certain time, it used to be one of the most revolutionary pieces of technology in the world. Its popularity grew exponentially with the emergence of eBay because both buyers and sellers were worried about fraudulent activity. PayPal offered an exceptionally safe mode of money transfer that served them well.

However, PayPal has some drawbacks as well.

For example, it doesn’t offer protection for users selling digital services and products. It has also been known to freeze accounts for up to six months without any warning. 

Today, there are quite a few other PayPal alternatives that offer superior customer service, lower rates, and much better interfaces. They strive to rectify the flaws that drive PayPal users to look for alternate modes of payment.

In this article, I have listed the top 8 PayPal alternatives for Businesses in 2022.

Top 8 PayPal Alternatives for Businesses

Although PayPal is a great service, it is certainly not the only option out there. Let us now take a look at our choices for the 8 best PayPal alternatives for Businesses in 2022.

1. Stripe

Stripe paypal alternatives

Stripe is the undisputed champion of PayPal alternatives, especially when it comes to e-commerce businesses. Several prominent organizations all across the world, including Shopify and Squarespace, use it as their preferred payment processor. The main virtue of Stripe is that it does away with the requirement for a gateway and merchant account. It handles everything from collecting payments to sending them to the bank.

Being one of the most streamlined PayPal alternatives in existence, it has grown exponentially in popularity. It allows you to accept payments from individuals and companies all across the world, and automatically puts your transaction money in a bank account. It supports mobile payments and real-time fee reporting as well. Its pricing system is quite reasonable and bears no hidden, monthly, or setup fees.

However, Stipe’s merchant accounts are presently only available to the US, UK, Canada, Australia, and various European countries. It requires users to wait a few days after a transaction before they can have access to the money. Also, its user interface is somewhat sophisticated and may take time to get used to.

2. Wise

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Wise is a highly popular money transfer service created by the team behind Skype and backed by Richard Branson. A lot of users prefer Wise over PayPal because of the former’s low transaction fees and currency conversion changes. By virtue of these qualities, it will prevent you from losing money in currency conversion.

This payment solution claims to offer the “real” exchange rate without inflating it with additional hidden fees. According to their official website, its service is nineteen times cheaper than PayPal and eight times cheaper than regular bank transfers! Moreover, their new borderless account allows you to hold and transfer between more than 40 currencies. With Wise for business, you can also invoice your customers in a suitable currency.

As of now, Wise only allows you to receive money in USD, EUR, GBP, and AUD with the borderless account. Also, you cannot send or receive money if it isn’t a bank transfer. Despite these limitations, it is one of the most accepted tools for making international money transfers, with four million global customers.

3. Payoneer

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Although the advent of the internet has encouraged connections between people all across the world, there are still some issues. For example, cross-border payments continue to be a daunting and irritating task. Payoneer has been working hard to rectify this by empowering online sellers, businesses, and even freelancers to conveniently get paid globally.

Payoneer is, in the words of the developers, an “all-in-one platform for global growth” designed for the modern world. It allows you to conveniently pay your fees and suppliers in other countries, get paid by the world’s biggest marketplaces, and manage several stores in one place. Its goal is to empower businesses to “go beyond” – beyond limits, borders, and ultimately expectations.

A Payoneer account makes global money transfer extremely simple and is a great resource for companies that regularly need to send money to international contractors, freelancers, and vendors. You can also get a debit card to go along with your account and use it to withdraw cash from ATMs or banks.

4. Google Pay

Although this article mainly focuses on payment processing services for e-commerce platforms, I must mention that Google Pay is an unmatchable option when it comes to everyday payments. It is highly recommended if you need a place to store and use your credit and debit cards. With its help you can easily send out or receive payments within moments on websites, in-store, and using POS systems.

Google Pay is quite simple to use – you just need to download the app, connect your credit or debit card, and use your phone to make payments for online shopping, in apps, or even at local stores. Moreover, there is no transaction limit of any kind. The app protects your payment details with multiple layers of security, like a robust onion of sorts.

You can safely use Google Pay to store boarding passes, train tickets, or loyalty cards as well. It also keeps track of your payments and allows you to see how much you spend and where.  Fast and convenient, it is available on both Android and iOS devices. Although it isn’t a full-scale solution like PayPal, it comes in handy for making regular payments.

5. Authorize.Net

Authorize.Net is an extension of Visa’s payment services that mainly intends to help smaller businesses receive payments. They can help you out with everything from mobile payments to full e-commerce solutions. By using a merchant account, you can accept debit cards, e-check, PayPal, and all other popular payment options. You can also turn your computer into a virtual point-of-sale machine using their encrypted card reader.

This solution has everything you’d expect from a contemporary payment platform – free invoicing, fraud protection, and the ability to set up recurring billing and subscriptions. They believe in allowing their customers “to sell more, sell faster, and sell safely” and work hard to stay true to their word. However, their most notable virtue is their excellent customer support. It is totally free and available 24/7, complete with an efficient team of members.

Remember, though, that Authorize.Net is meant solely for business owners. If you need a platform for personal use, you should consider choosing one like Stipe.

6. Square Payments

Although Square has recently expanded to online payments, it largely deals with point-of-sale transactions. That undoubtedly serves as their bread and butter, and their hardware for that purpose is top-notch. As of now, they have three payment systems – the Square Reader, Square Stand, and the Square Terminal. You might likely have come across at least one of them at your local restaurant or charity shop.

With the help of these systems, you can accept contactless, EFTPOS card transactions, and apps like Apple Pay and Google Pay. You can also send invoices, track inventory in real-time, manage employees, and automate various time-consuming processes using the Square app. Similar to Stipe and Authorize.Net, Square comes with excellent customer support. It also integrates well with thousands of other popular apps in the market.

If you want to integrate your physical store with an online shopping experience, or your business is focused on in-store payments, then you definitely must try using Square. However, their pricing system is rather complicated. Make sure you visit their pricing page to get a good idea of what it’ll cost you.

7. Amazon Pay

Amazon is an undisputed leader when it comes to online shopping. Therefore, it’s only natural that they’ve entered the field of online payments and developed their own payment tool. As one would expect from this company, the setup is smooth and seamless. All you need to do is add payment details to your Amazon account, and you’re ready to go. Using the large yellow Amazon Pay button, you can make a payment with just a click or tap.

The platform charges no additional transaction, currency conversion, or processing fees for customers. Rather, it allows them to make fast and easy payments in the interface they are comfortable with. When it comes to business, you can use Amazon Pay to optimize the payment process and give customers a familiar and trustworthy option. You will, however, need to utilize your coding skills to use them to their fullest.

Amazon Pay includes dedicated solutions for small, medium, and enterprise businesses. Thus, regardless of the size of your business, you can be assured of precise support and a flexible payment system.

8. 2Checkout

2Checkout is another all-in-one platform that aims to maximize revenue and facilitate global sales for everyone from startups to Fortune 500 companies. It focuses mainly on international transactions and offers a solution for everything from subscription billing and global payments to global tax and even risk management.

The platform presently offers three different services – 2Monetize, 2Sell, and 2Subscribe. Each of them covers a different part of e-commerce. You will find all three of them displayed in a modular interface that is easy to handle and readily adapted to your business.

By virtue of their checkout experience, you can integrate with over 120 carts, start selling in more than 200 countries, and support more than 29 languages and 100 currencies. To give you additional control over this experience, they offer an open API as well.

In terms of pricing, 2Checkout is quite similar to PayPal. However, it does charge lower fees for international transfers.


After reading this article, you can clearly see that there’s no shortage of excellent PayPal alternatives, whether you require a full-scale e-commerce solution or simple payment processing for your website. All of them have their own unique features, strengths, and weaknesses. You need to go through the list and find the service that fits your specific needs the best.

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