9 Popular Alternatives to PayPal

Founded in 1998 by a group of tech superstars, including Elon Musk, Max Levchin, and Peter Thiel, PayPal became the go-to brand name in online money management and was bought by eBay in 2002.

As of 2025, PayPal accounts for 45% of the global payments market and its transaction volume was $6.6 billion in Q4 2024.

PayPal Main Features

One advantage that PayPal has is its large, multi-service platform with diverse offerings that many other digital payment systems lack. PayPal (PYPL) offers the following features:

• PayPal lets you pay for your favorite things at millions of online stores in the U.S. and across global markets.
• PayPal allows for making recurring payments to monthly bills and subscriptions.
• PayPal charges different fees depending on the transaction.
• PayPal earns fees from each merchant checkout transaction.

PayPal is not alone in the growing digital money space as consumers are turning to online payment systems in record numbers every year.

Here are 9 popular alternatives to PayPal:

1. Skrill

• Skrill has different fees based on the type of transaction, such as deposits, withdrawals, sending/receiving money, account levels, services, the country of operation, etc.
• In the U.S., there is no fee for local or global deposits.
• There is a withdrawal fee of $5.50 for ACH transactions.
• There is no fee to send money between Skrill accounts.
• There is no fee when receiving money from U.S. customers but if not a U.S. customer, there is a 3.99% foreign exchange fee.
• There is a service fee of $5 if you don’t log in or make a transaction at least once every 12 months.

2. Payoneer

• Payoneer operates in more than 190 countries.
• Receiving payments from another Payoneer customer’s balance is free.
• Payoneer has many different fee setups based on the specific details of the transaction, such as where the payment or charge is coming from, the country of operation, if the other party has a Payoneer account, and how the payment is being made.

3. Stripe

• Stripe is supported in 46 countries, with more availability planned.
• Fees are very clear; Stripe charges 2.9% plus 30 cents on every transaction.
• The checkout process for Stripe is self-hosted and occurs on the business owner’s site rather than sending customers to an external site such as PayPal.
• The Stripe network automatically deposits the funds into an outside bank account.

4. Venmo

• Venmo is a checkout option with several apps and websites, including Uber and GrubHub.
• When you withdraw money from your Venmo balance, it can take a few business days to transfer money to your bank account. If you need money faster, Venmo offers instant transfers for a 1.75% fee, with a minimum of $0.25 and a maximum of $25.
• Venmo doesn’t have regular fees, like monthly or annual fees.
• Venmo includes popular features from social networks, including likes, comments, and messages attached to each payment. 

5. Apple Pay

• Apple Pay is built into the iPhone, Apple Watch, Mac, and iPad.
• Apple Pay is accepted by 85% of retailers in the U.S.
• Apple does not charge any fees when you use Apple Pay, whether in stores, online, or in apps.
• 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.

6. Square

• A retail platform that allows retailers to sell in-person and online.
• Options for point of sale, eCommerce, invoices, and contactless payments.
• Free to use but retailers can add tools as needed including those for payroll and timecards for employees.
• Square’s Intuitive Dashboard keeps a retailer’s business data in one place.

7. Amazon Pay

• Using Amazon Pay does not add fees, including transaction fees, membership fees, and currency conversion fees, to purchases on sites and organizations accepting Amazon Pay.
• Transactions are safe and secure, and everything can be tracked with an Amazon account.
• Amazon Pay accepts credit and debit cards. 
• Donations, movie tickets, and more can be made with voice connection through Amazon’s Alexa.

8. QuickBooks Go Payment

• Requires a credit card reader for retailers to take payments right from a mobile phone or tablet.
• Swipe rates starting as low as 1.6% for pay-as-you-go or monthly plans are available starting at $19.95.
• It works with iPhones, iPads, Android phones, and Android tablets.

9. Shopify Payments

• Requires a Shopify account to accept Shopify Payments.
• Customers can use their preferred payment methods such as Visa, Mastercard, or Apple Pay.
• Includes a built-in fraud analysis feature and flags potentially fraudulent orders.
• Pricing plans for Shopify account sellers range from $29/month to $299/month.

The Bottom Line

While PayPal may have almost half of the global payments market, there are plenty of other payment options out there that may be better suited to individuals and businesses based on their specific needs and budgets.