Alternative Payment Methods To PayPal

Mar 17, 2017

PayPal is a highly popular platform that enables users to make monetary transactions. With PayPal, there is no need for bank transfers and checks: it just requires both the receiver and sender to have a valid PayPal account to complete transactions.

Since PayPal’s spin-off and its 2nd IPO in July 2015, the company’s shares have gone up by over 20% and slightly surpassed the broader market. Though relatively high earnings increase, PayPal’s extraordinary free cash flow growth is expected to help the stock stand out in the next years as well.

PayPal offers a number of advantages, but it also has some disadvantages. The week points have to do with the high fee; the fact that your payments can be put under review without any proper reason; there are countries that aren’t supported by PayPal; and that PayPal has some country-based restrictions.

If you’re on the lookout for reliable PayPal alternatives, consider turning to EMB, the #1 high risk payment processing company in the US, is ideal for merchants of any type and size. EMB is voted the #1 high risk processor in the US and boasts an A+ rating with the BBB.

Below you can find other alternatives to PayPal that can help you easily process transactions:

Google Wallet – Offers a new way of sending, receiving and paying money online. Sometimes, all you need is just a tap. Be aware it’s available only in the US.

Skrill (formerly Moneybookers) –  This is a platform that allows you to send and receive money and do online shopping.

Payoneer – This payment method is great for freelancers and affiliate marketers, who are interested in receiving money from other countries.

Stripe – This is another convenient method to accept payments from customers without difficulty.

Dwolla – This is a payment service and a platform that allows for sending money to anyone on the Internet.

2Checkout – This can be described as a partial PayPal alternative. The thing is that 2Checkout can’t be used for money transfer between users. Merchants can use 2Checkout to process transactions when selling items.

WePay – You can implement WePay in your website to enable customers to pay without leaving your website. WePay creates a virtual terminal to enable payment processing.

Selz – As an alternative to PayPal, Selz is great for merchants and small businesses. Choose Selz to accept payments from customers.

Amazon Payments – Introduced by Amazon, this is another alternative to PayPal.

Square – Square provides users with a card reader that works perfectly with iPad, iPhone or Android Smartphone.

When thinking about a payment method, the first thing that will come to your mind is most likely to be PayPal. However, PayPal has a number of disadvantages that makes users look for alternatives to PayPal.

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Having a merchant account allows an account holder to take advantage of merchant cash advances. When a merchant is approved for an advance, the business agrees to receive a lump sum of cash in exchange for an agreed-upon percentage of future credit card sales.

Pricing varies depending on the merchant’s industry, past credit card processing history, the type of business seeking the account, average ticket sales, and average transaction volumes.

Yes, EMB works with merchants who are building their credit, as well as those who have poor credit. EMB also approves merchants that have no credit card processing history and businesses that have lost their merchant accounts due to high chargebacks.

Several factors influence a merchant’s risk level. Though only one factor likely will not get a merchant classified as high risk, a combination of these may: business size, location, and industry, credit score, credit card processing history, a industry’s reputation for excessive chargebacks, a prior history of high chargeback ratios, and whether a merchant exclusively sells online.

Virtual terminals are stationed on a merchant’s website, making it easy for customers to make a payment or purchase online. Merchants or a payment processor can easily set up virtual terminals, so online businesses can accept credit and debit card and e-check transactions.

A merchant account is a business account with an acquiring bank. Without this business account, which actually works more like a line of credit, a merchant cannot accept and process credit and debit card transactions. Businesses need a merchant account to accept major credit cards via a static point-of-sale terminal, mobile card reader, or through a virtual payment gateway.

After filling out EMB’s simple online application and submitting any necessary, requested documents, many merchants get approved within 24 and 48 hours.

EMB specializes in working with high-risk merchants. EMB works with many merchants, including but not limited to businesses in these industries: gambling and gaming, adult entertainment, nutraceuticals, vaping and e-cigarettes, electronics, tech support, travel, high-end furniture, weight loss programs, calling cards, e-books and software, and telecommunications.

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