PayPal was founded in 1998 by a group of tech superstars, PayPal became the go-to brand name in online money management and was bought by eBay in 2002. In 2021, PayPal accounted for 22% of all online transactions and its mobile payment volume was over $215 billion. Despite its growth, PayPal is far from monopolizing the industry.
- PayPal allows for making recurring payments to monthly bills and subscriptions etc.
- PayPal is free to use when you want to pay for a purchase or any other type of commercial transaction or personal transactions unless it involves a currency conversion.
- PayPal lets you pay for your favorite things at millions of online stores in the U.S. and over 200 plus global markets.
- PayPal helps keep transactions secure by not sharing financial information with sellers and also monitors transactions 24/7.
Google Pay Send
- There are no setup or cancellation fees for Google Pay Send.
- Google pay send is available for Android and iPhones.
- Like PayPal, Google Pay Send is great for sending money to and from anywhere, But Google Pay Send does not charge any fee on debit transactions
- Google Pay Send can attach payments to Gmail messages.
- Google Pay Send allows for a variety of tools to manage your business and programs.
- Payoneer, like PayPal, operates in more than 150 countries.
- Payoneer charges a transaction fee of $1.50 for local bank transfers.
- Payoneer also provides a service called Billing Service that allows for a business to set up payments from customers with 1% for debit cards and 3% fee for credit cards.
- Payoneer offers an account that is free and allows withdrawals directly into your bank account. The other account is a prepaid card that is only available to individuals and costs over $30 a month.
- Skrill accounts when not used for 12 months they assessed a fee of $5.
- Skrill merchant fees range from 2.5% to 4%.
- Skrill is a good option as it has zero deposit fees, zero fees for withdrawals, also sending and receiving money is free.
- Skrill has a limited number of merchant acceptance and PayPal is available at almost every major retailer.
- Venmo does not have any regular fees, like monthly or annual fees.
- Venmo is a checkout option with several apps and websites.
- When you withdraw money from your Venmo balance, it can take a few working days to transfer money to your bank account. If you need money faster, Venmo offers instant transfers for a 1% fee, with a minimum of $0.25 and maximum of $10.
- Venmo includes popular features from social networks, including comments, likes and messages attached to each payment.
- Apple does not charge any fees when you use Apple Pay, whether in stores, apps or at online.
- Like PayPal’s availability, Apple Pay is accepted at over 80-90 percent of retailers in the U.S.
- Apple Pay is built into iPhone, Apple Watch, Mac, and iPad.
- Apple Pay enables you to make secure, contactless purchases using Apple Cash, Apple Card, and any other credit and debit cards that you add to your Wallet.
- Transactions are secure and safe, and everything can be tracked with an Amazon account.
- Amazon Pay accepts debit and credit cards.
- Using Amazon Pay they does not add any fees, including transaction fees, membership fees, and currency conversion fees, to purchases on sites and organizations accepting Amazon Pay.
- Movie tickets, bills and more can be made with voice connect through Amazon’s Alexa feature.