Here's what you need to know about PayPal alternatives

Transcript: Like all great origin stories the PayPal mafia is an origin story that deserves to be told and retold from social media to the auto and aerospace industries the impact of the PayPal mafia is amazing serving as a launch pad for six of its members to become billionaires and this story begins with Palm Pilots a Palm Pilot was a specific kind of a device called a personal digital assistant or a PDA you see before the smartphone era PDAs were cutting-edge handheld pcs with the ability to connect to the internet they were truly awesome for the time and they were getting popular by the late 1990s and it was in 1998 when Peter Thiel and Max Levchin decided to develop technology to allow person-to-person payments via the use of PDAs namely Palm Pilots back in those days sending money to someone was inconvenient compared to today you were limited to cash or writing a check and if you were far apart you had to send it through the mail over the years credit and debit card infrastructure expanded but they were only limited to merchants so with Thiel and levkin's idea people could be money from one... See more →

Transcript: Hi drew angel here with an introduction of PayPal today we're just going to take a quick look at a simple question what exactly is PayPal how does it work the easy answer is it's a way to send and receive payments there's a little bit more than that going on you got your buyers and your sellers involved or senders and receivers let's take a closer look give you a little bit better knowledge on what exactly there is happening here and see how it might help you out so first you have the buyers side when you want to make payments with paypal of course the first thing you do is to create your PayPal account and you'll treat it like a wallet this is your digital wallet or your paypal wallet just like a regular wallet you can hold cash in there in the form of a PayPal balance you can have your debit card and credit cards in there from various banks or credit card providers you can have multiple bank accounts so checking accounts or savings accounts from a local branch from online banks you can out all these into that PayPal wallet and when... See more →

Key quotes:

• "TransferWise dubs itself as “a cheaper way to send money internationally” and is a fantastic PayPal alternative if you make lots of international transfers."
• "The PayPal alternatives payment solutions claim to provide the “real” exchange rate, without inflating it with additional unseen fees."
• "The service’s Borderless account provides users with a debit card, allows you to manage money in more than 40 currencies, run payroll, batch payments, charge clients, and more."
• "It provides a Payoneer Card which can be used to make international payments and withdraw money from local ATM booths."
• "While Payza is not so helpful in getting affiliate payments, it offers the easiest way to send and receive the money within the users."
• "Best for: Businesses wanting an intuitive and flexible API (application programming interface)."

Key quotes:

• "A business owner who has ever had an issue processing a credit card transaction either at the point of sale, not being funded, or a chargeback dispute, the ISOs and MSPs are usually the first phone call you make."
• "Although we strongly suggest consulting with your accountant on the exact tax laws for your state, city or county, for the most part, the credit card processing fees you’re charged by the merchant service provider are tax deductible."
• "Take the pain out of payment processing These are the fees assessed every time a merchant runs a credit card transaction."
• "On the other hand, service providers charge something called ‘interchange plus.’ Interchange plus is a tiered payment structure or markup, that’s based on a variety of variables including payment volume, business type, average ticket amount (dollar amount per transaction), and if the card was keyed in or swiped at the point of purchase."

Key quotes:

• "Due to lack of alternatives and world-wide customers, I had to rely on PayPal."
• "For too long, PayPal took hefty transaction fees from my work: While I do appreciate having been able to accept payments online via PayPal, I am happy that better alternatives exist now."
• "I’ll focus on Revolut, based on personal experience, but all these alternatives are offering similar benefits."
• "There are zero fees for With Revolut, you’ll also get a physical card, virtual cards and an IBAN for each currency account."
• "For free in Europe, and a ~2% fee from USA (quantum physics has limits, mostly entangled to commercial interests)."
• "Digital banks such as Revolut are a way better alternative to traditional banks."

Transcript: Hey, welcome back to the Six FigureMastermind. Marianne DeNovellis here. Happy to see you again. Today, we're going totalk PayPal again today. PayPal is a huge platform, everyone usesit but not if it would no has out but not everyone knows how it works so todaywe're gonna go through the A to Z steps on how PayPal actually works andfunctions for your business. Stay tuned. So PayPal has been around for a longtime and if you're not using it for small business, I highly recommend thatyou do, it's an easy platform to send and receive money but a lot of people don'texactly know how PayPal works. You know, PayPal was a forerunner to what we nowcurrently know as cryptocurrency, it's not cryptocurrency, don't get confused,don't get me wrong but it functions in a similar way so let me just walk youthrough the basics of how exactly PayPal works. Most of PayPal operates in USD,meaning US dollars but it doesn't have to. There's a lot of currencies out therein the world that can operate through PayPal and PayPal will take all of them,okay, and what will happen is that you have a bank account whether that's achecking account, whether it's a... See more →

Transcript: Hey everybody my name is Kristen Barnett and we are going to talk about taking payments one of those important things about your job is making sure that you get paid okay so the very first thing that you want to do when you sign up as a distributor is you want to go and get a business bank account so just go visit your bank and let them know that you like to open a separate account it takes maybe 15 minutes or so um and that's important because you want to make sure that you keep all of your funds from your business separate from your personal funds okay because eventually tax time is going to come around and you will be taxed on your income and so it's just a lot easier and a lot cleaner if it's separate from your personal account so even if you think that this is just a cute little side business for you and you're not sure you're going to do very much go ahead and do that and I think you're going to be glad that you did because um it's just it makes things so much easier so okay... See more →

Key quotes:

• "Paypal isn’t the cheapest option available (2.9% +30c on every transaction) but it’s often the most reliable and convenient, which most people are happy to pay a little extra for."
• "Paypal easily hooks up with your bank account and visa/debit card to allow for swift money transfers and payments, regardless of where you are in the world, which is pretty important for freelancer living the digital nomad lifestyle."
• "One of the massive perks of Skrill is that you get a prepaid Mastercard which you can use to withdraw funds from your account, so you don’t have the hassle of transferring it to your bank and waiting for payments to process."
• "With that said, if you can stick to a personal account and never need to call customer service then you’ve a pretty sweet deal; a Paypal type service with low fees and the convenience of a mastercard attached."
• "Payoneer can be used to receive payments from anywhere in the world and it’s widely used by freelancers who work with international clients."
• "Venmo offers a lot of perks; there are no fees to process payments between users and bank withdrawals only take one business day!."

Key quotes:

• "Chances are mobile payments will be key to how you’re going to make money, so here are the five key things you have to know: Apple and Google make a distinction between purchases that relate to an app (think digital content or features) versus purchases that relate to physical goods and services (think taxi rides or groceries)."
• "For app related content, you, the developer, will pay Apple / Google a 30% fee on the user’s purchase."
• "In contrast, if you’re selling physical goods or services, you’ll first have to link your app with a separate payments processor, such as Stripe or Braintree."
• "That’s the reason why you should offer seamless check out to your customers with Apple and Android Pay, (and never setup one-click purchases on Amazon no matter how they nag you)."
• "Nonetheless, we predict that Android and Apple Pay will capture the lion’s share of mobile payments."
• "The real power of Apple and Android Pay is their ability to be integrated into the existing apps and websites where people already hang out."

Transcript: There are many fantastic people alternatives to choose from for your website for this list we only focused on options that provide multiple integration methods with WordPress with that said let's get right into it number one stripe stripe is one of the biggest PayPal competitors in the US market it charges merchants 30 cents plus 2.9 percent for each transaction matching PayPal space rates whoever stripe is much friendlier for global sellers its international transaction fee is just 3.9 percent compared to PayPal four point four percent although there is a one percent currency conversion fee it also offers local payment options so your customers can shop using the methods that make them most comfortable if you have a significant audience in one of the 37 countries where it's available stripe is a decent option for your website beyond that stripe also offers multiple integration methods for WordPress including stripe payments and stripe for WooCommerce now out of the box WooCommerce does provide an integration with stripe using official extension as well and that option is easier to set up but it doesn't offer as much control or the checkout process as stripe for WooCommerce number two to checkout... See more →